Member Info for pa_richards

No many fickle traders on this board! Personally, I thought today's announcement was a good step forward, with further derisking of the proposition. It is very early days yet in proving the Kimmeridge layers. It will be interesting to see what comes out from KL4 test - adding cumulatively to the Portland and KL3 results. We know that the overall strategy for UKOG is many wells, over its various licence areas. Wylch Farm took some time to get up to its maximum flows. So happy to keep holding for the ongoing journey over the next several years. Meanwhile traders will come and go, and the less good ones will of course have to manipulate the share (both down and up) as usual.

Fell. As you only post on this share your credibility, to me, at least is lower than JP's. you clearly have a motive to follow your regular theme. All Oil and Gas exploration is a risk, but equally, good results after failures can quickly change things around. Time will tell.

for JLP

Yes - apologies - I got an automated RNS alert from my RNSAlerts facility - but it looks like the error was in that system.

Dar es Salaam — Tanzania has been listed as one of Africa's most exciting investment destinations.
It is No. 7 on the index, according to the Top 10 African Investment Destinations in 2019 report.
The report published by the Rand Merchant Bank indicates that Tanzania jumped two positions from 9th position in the 2018 edition
The report assesses the economic outlook and investment opportunities in each country within the continent, and points out the most exiting investment destinations.
It also analyses spheres of finance, infrastructure, resources and retail.
In East Africa, Tanzania is the third after Kenya and Rwanda.

https://allafrica.com/stories/201811140631.html

good steady progress

Cannot seem to distinguish the difference between real dilution - i.e. Reduction of scope of asset per share versus increased in number of shares to enlarge asset base.

Of course if the asset proves to have minimal value then he would be correct, but suspect there is a strong likelihood, INMHO, that the increased asset base will prove, in time, to be a great investment.

In the meantime, his day by day negativity shows he has some interest in UKOG proving to be a failure. Sad, really sad.

TD - the answer is YES - simply because the demand for electricity is increasing across Africa. Those who know Africa always suspected that the timelines would be drawn out - and still may be, but at the end of the day, the need still exists.

a next step ...

Trustatrade - you could have bought at 6p just a short while ago - why did you turn down that offer !

Strongman - if KWE are getting 20% for their $4m, then suspect PREM holders get 35% for their 7m and the remaining 45% will go to those who put up the money !

This could be an excellent move, but only for those who really can commit for the longer term.

The tragedy is that RHA and ZULU is only valued at $7m as input into this new company.

INMHO - that is most unlikely until:

1 - The government confirms that it is allowing PREM to get 90% of RHA - so that it can be put into NewCo.
2 - Working through that if (1) is confirmed then the for combined 90% of RHA and ZULU - PREM shareholders will get diluted by circa 60%. (ie £7m share of 7+4+6m) - and some further future sharing of any benefits to KME.

The result is that we need to reflect that on current SP, a large value of Circum is now already baked into PREMs SP.

jeffry I think the sell off is because of the low valuation of RHA and ZULU - both of which remain pretty worthless whilst the Tungston and Lithium remain in the ground. To date, it has proved impossible to make RHA economic. The new approach assumes that by bringing the whole minng process in-house it can be made to pay. So if you remain invested you are doing so on the assumption that this will make all the difference. In terms of Zulu - indicate results to-date have been positive, but those previously invested that major investment required to move through the next stages - and payback (which may be quite material) is certainly a few years away yet.

For those still invested or thinking about putting money in, the real questions is whether Circum will come good, and if the new arrangements will enable holders to still benefit.

Not been much discussion about KME Holdings Ltd. The only real information I find quickly is below. It seems that they are more into Copper, and their last report does not mention any operations in Zimbabwe, I wonder why their equipment in ZIm has been valued at £4m - plus additional payments if things go well.

https://www.kme.com/fileadmin/Financial_Information/KME_Corporate_Presentation__26_02_2018.pdf

Baz. Have you not yet read the RNS's, as I suggested you should yesterday. If you have no patience, suggest you sell and find another share where you get fed RNSs every day. Personally, I am happy that SS is more intent on doing the job prefessionaliy, and not playing to the desires of traders.

Whilst I am happy to see the SP rise back up, I am not expecting particular news ahead of the AGM. AGMs are a legal and administrative process; whilst company impacting news needs to be released quickly - so generally new 'news' cannot be timed to be delivered just ahead of AGM. Across many boards I see some trying to tie such events together.

AP has been clear that he may need to raise funds to progress new opportunities. Given the current breadth of interests, I see this as reasonably positive, Have just added.

Wimbledon - just hope that you are not too over committed here - while we all wait to see this play out.

the nature and content of many posts suddenly.

Whilst in the immediate term is cannot be portrayed as good news (which might for instance have been an RNS saying that Kibo's bid shortlisted), I am far from convinced that all is lost here. What is clear, unless we suddenly hear that the Chinese have made a bid to fast-track a project (but from their perspective getting a significant long term payback in some form) then Tanzania's problems with generating electricity have just grown more severe.

So I for one will continue to hold (and may seize the opportunity when the dust settles a bit to increase my holding).