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Trouble for the Tanzanian government is if they hold things up and take too long to sign things off, it won't attract investment. The government needs to up it's game.

I would think an upgrade of the onshore Ruvuma gas at Ntorya to whet the appetite of investment into oil and gas wouldn't go amiss either. Imagined if they said the 3D has identified 8TCF.. or more.

Money received. Project news next.

It would seem not to be true. BOR agreed a farm-out before. RKH have a farm-out. Farm-out incoming.

Probably get an update tomorrow. Money received. Anything else?

Come on BOR..let's have the farm-out or takeover.

Oil is right where it needs to be.

Nahh.

Not even a mention that the Ruvuma licence expired on 15th August. So effectively ARA and Aminex have no project..surprised you missed that one Rojo! Are we bothered??? Nahhh.

Actually $90.40

If only a partner had got this ready for production. Would have got their money back in a year and be sitting on free cashflow for another 25 years equating to about $40B revenue.

Oil just broke $90...going higher.

All the metrics are right for a farm-out. Oil now busting through $89. A walk in the park for our illustrious board to get a deal done. Done it once before, but never had this much in their favour, so come on.. let's be having it.

Must be writing a chunky update I reckon.

If people actually understood the oil & gas industry and operations, geology and how you go about executing exploration and analysing data then maybe some of the posts that are seemingly questioning thus far the position PRD are in just may be more understood by those who clearly have no clue. I guess this is how a woke culture develops by demanding posters who have a different view be cancelled and all because of they lack knowledge and have a deep held perception or belief that they are right and everyone else is wrong. Call me old fashioned but it's spooky...and bizarre

Pv7, You must agree, only when the gas flows does that become a possibility...until then it's high risk and overvalued.

Anyone want to justify it then?..be my guest.

£61m..come on.. that's way overvalued.

Simply, the Mcap is too high for where this company is right now. That's what makes it high risk.

Risks are too high here. Nothing proven. No one is going to get involved until these wells flow at sustainable rates. Extended well tests will be needed to prove flow and there is a lot of work to do. The money raised (£10m) has already been spent/allocated, so it really is a high risk proposition as to what these wells can achieve. Water cut and co-mingling at MOU1 does not give confidence for commerciality given the mineralogy of the sands. imo.

Cannot see, cannot know..

Anyone notice the new Deputy Prime Minister in Tanzania has also been made the new Minister for Energy.