Member Info for Rambo23

Can someone explain why this capital reduction process is required to go through the courts? Limited info provided in the RNS. Thanks

Not long now until Parta.

Andinio - So what about the lock in period? They have the option to sell at a point in time. There is no information to suggest any of those people involved will suddenly run for the hills so it is purely speculation. It's possible that these people if as you say are 'friends and family' have a better view of the potential here and will do nothing at these levels especially if it has been multiples from where it is now. Also unless someone sells a large chunk of shares that leads to a TR1 a sale will look like any other sale and the origin unknown. I see 70% being held by Chris as a positive not a negative but the trading of the remaining shares might lead to volatility. Patience and perspective required.

For those who bought in at much higher levels and are under water now I can appreciate the frustration but they need to remind themselves what their investment case was buying in at those levels and what has fundamentally changed? I agree details of contracts and numbers are required asap for everyones sake as no news = drifting SP.

HULL/ BAMB try this. I noticed it had vanished as I tried to find it several times after listening to it last week. I then found I had the page open on another browser and can still access it. Listened to it twice this am and it is much better than the short one they have. Odd this was moved though.. See link below but if I try to open it again there is a problem so maybe I can only still access the recording for some weird reason. Best efforts with the link

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What are peoples views on the circa £7mm in cash and how far that goes? What options do you see might be on the table? Rod was always anti dilution but with delays on PFS, remaining permits and still no off take we need some progress and positive news soon.

I'm surprised the samples prepared and sent last year and or the stockpiled material as shown in the pics hasn't filled (making an assumption here as they haven't been explicit here) the latest Rio testing sample and we have to go again this field season which takes time. I thought this was the whole point of stockpiling 10k tonnes if that figure is correct.

Been in this a few years now and its been choppy but if the beach is as good as what we are hearing hopefully this will recover and get over the line. Doesn't help to have the likes of align continue their campaign when other companies they have promoted have gone backwards rapidly!

Positive progress being made which is a step forward. I think it is a big positive Rio want to do further bulk tests on this whilst the planning and development continue. Personally I was expecting more from Interlak in terms of resource upgrade as it was implied that was the source. But it's an increase on what we had before so will take that. Patience required here I feel.

Stalin I was the buyer of the 4.1mm ticket the that was printed this am which was just inside the ask. Wide spread though so hopefully this marches north soon.

Hi Doubleup, appreciate the response and think that is fair comment. I wasn't personally aware you had lost big but I think most of us have had a rough ride here. I'm waiting for further comms from bod to assess if there is any future here at all but I'm down a lot but like you say you win some and lose some. I did find the recent TR1s interesting. A lot of money is on the line there so my question is why would that happen on that scale? Pure punt? possibly but perhaps not. Time will tell

Doubleup genuine question...if you are not invested here why do you feature so regularly and feel the need to comment so much? I'm totally fine with people exercising their right to an opinion but each time I look I see your name on the chat and wonder why if your not invested you feel the need to/ what is the agenda if there is one?. Isn't there something more important for you to enjoy doing than telling a group of people if they are right or wrong? I just find it most bizarre but each to their own. Just thought I would ask

Bought another 10k over the last two days. Trade today showing as a Sell. Should be an exciting few weeks. Also good to see management buying in 20k late Dec a positive contribution. FYI for new investors. Colter 58% of success that’s better than crossing a road in London these days ;).

Poortiming...Well firstly I’m no oil expert but seeing recent pics on Twitter if they are recent that seem to suggest a connection to the well is no longer in place seems less positive no?.I personally don’t know why some kit like the bund and connector etc has gone but would appreciate anyone who knows to explain why. Thank you. As I’m sure many others would agree regardless of what happens from here the comms and execution have been seriously poor. Who is at the wheel? I really hope things improve.

What the is going on here? Regardless of the time it was shot I would hope to see more activity on site. The last month has been a PR shambles!

People need to chill out a little not get spooked because the Tidswell drama continues. His actions here have now shown his true colours which although not helpful will get resolved one way or another. What % of the vote is required for him to complete his coup anyway?

Mean while testing continues and perhaps that loan will be used to buy more of the Balcombe license no bad thing. After all the waiting panic selling today really?? DYOR good luck everyone.

Hi Baits exactly have people even considered the drawdown could be used to up the stake in balcombe possibly?

Johnhenry - re your last comment I totally disagree. Two key things here 1. Tidswell mess that’s been ongoing for 6 months 2. Balcombe Asset dev I don’t think from the RNS you can conclude the reason Tidswell is trying to remove Vonk is due to his choice of YU financing to develop Balcome etc but more likely because he wants his old job back!! Tidswell has some serious explaining to do on his share transactions and until that’s clarified I don’t want him anywhere near this! Although not all shareholders are happy with Vonks lack of comms to the their personal demands at times he hasn’t actually done a bad job, done good interviews, agreed some timeframes have been loose but that’s how these things go.

50cc - yes I see it’s Tidswell trying to get back in and run the show and remove Vonk. We still don’t know the full story there with regards to his previous share transaction so that should have been explained before this even happened. Anyway this is just a distraction look at the RNS again balcombe and brockham progress and we will hear more on brockham testing soon. Im ignoring the doomsday comments this am that clearly come with an agenda!

part 3

We spoke a lot about HH and George kept reminding us of the fact they own 11.7% which could become very valuable to the company when the EWT finishes and independent reports produced with OIP and recoverable reserves. Acknowledged that the current revenue will be used to cover costs so although a 60 day delay in receiving funds from oil sales this is into HHDL and not ALBA account to be clear on that. Message here was to be patient on HH which should have an exciting 2019 as the development continues.

HH and Brockham offer the near term revenue generation but that could be used to develop those sites so the future of these will depend on the EWT results etc.

Amitsoq – 5 drill pads were prepared during the last field season and they will go back there as they seem to like the very high grades there. 3-4 drills holes per pad.

Limerick – Plan to drill some holes in 5 different areas. I forget how many holes they will drill but that is going to happen.

Peedlian your question - The question is which can they monetise the quickest (of the mining prospects). ? More results required generally and esp from from TBS and Amitsoq, inglefield and clogau. If they can prove up some of these assets further then they could sell on and bank some profit. How long and if this even happens and which assets would be sold is unclear but they are looking at this as aware there is a lot going on.

All in all worth going and they were very generous with their time so thank you to them all. They took lots of questions and tried to answer as best as possible where sensitive. Patience required for investors moving forward I believe.

part 2

DHC – see your questions below.

What do the Board see as the present worth in terms of Market Capitalisation of the company? Didn’t put a specific number to this as much of this will depend on the HH EWT results and the Xodus OIP and reserve reports that will follow. Likewise any TBS maiden resource numbers confirmed by an independent source. They did agree they were frustrated that the SP and mkt cap are so low when compared to other companies given the stakes in assets like HH they currently have.

2. Secondly - the last broker rating that I can see on Alba in the tab key above is 2015. What brokers presently cover the stock and what steps can they take to improve the number covering the stock? Only First Equity are on the payroll currently. George said you can pay for more brokers to write reports but didn’t think it was the best way to spend the money for an unknown benefit and it is expensive. Tim from the PR company said that the MIFID rules have also reduced the options available here as well. PR wise I told them twitter and other social media needs to be used more often to beat the drum and get out of the shadows of other companies UKOG/ JAY for example who always seems to get the larger slice of PR activity.

George said First Equity help with the placings etc and Alba have never struggled to raise funds. One point to note the shares that went to Spreadex a while ago was not done at the boards choosing and they were surprised to see the RNS with them as holders. A different broker used here must have done a transaction with them and they did raise this with them to avoid future scenarios.

I asked if directors would consider buying shares to demonstrate reports and the response from Michael and George was they would like to but due to the close periods associated with the numerous projects and news flow events on the go especially at HH they are not allowed to as per the NOMAD. They get the investor concern but let’s keep an eye on this point and ask again at the next opportunity as you can’t use that reason indefinitely.

Feedback Part 1

Footieladbaz – Nice to meet you at the Alba presentation and some great questions from you.

My feedback from the meeting was as follow

Really worth going as we got a lot of time to ask questions and spend time with the Directors and key consultants.

In Attendance was

George Frangeskides – Executive Chairman
Michael Nott, Non ED
Howard Baker – Technical Director – Mining
Feroz Sultan – Technical Director – Oil & Gas
Alba Finance Lady

Jason Robertson – First Equity the Broker
Tim Thompson – Yellow Jersey PR

Guests Approx 15-20

Dsfat in response to your Q: Can GF disclose any indication as to the probability of the 'significant maiden mineral resource' at TBS? I asked George if there were any known circumstances permafrost included why a maiden TBS resource wouldn’t be achieved following the field season. They did not imply there was any show stoppers here but it will take some time to review the results and get an independent report of the results to determine. I pushed on the permafrost point with Mike as well and they acknowledged it was there but not unexpected and at the same time their equipment was quite small scale and not designed to go much deeper than 1-2m. The suggestion was in line with what JAY did in early field seasons they would gradually scale the kit up that could deal with permafrost as appropriate for any planned future field season.

Clogau – Realistically this is likely to require time to establish and get planning permissions etc in place, but they are confident looking at the results so far this is worth pursuing and there is a good story to tell here. Only time will tell how this progresses.

Peeblian / Doubleheadedcoin,

No problem. It’s a good opportunity and I have a decent position here so it’s one I don’t plan to miss. The Q&A for me is key to see how they respond away from the standard presentation pack.

You both raise good points so thank you for them. I will do my best to raise as many as possible if not brought up for discussion.

I will revert next week

Out of interest is the general expectation that we will see some KL4 flow rates soon or only at the end of the 30-40 day test likely next month? Previously on the other layers we got an initial flow number within a few days so surprised not materialised already?

Krull - I had that specific point in mind. However as a starting point I plan to ask them to clarify what the max capability the equipment they took with them for the field season had. I don’t believe they had the capability to go very deep so although there was some permafrost I want to assess how big an impact that had on plan A given the possible equipment restrictions regardless of permafrost.

From memory bluejay had hand augers to do the drilling in there early field seasons which also couldn’t get that deep and were used to form the basis of their maiden resource estimate so It would be good to compare apples with apples here for context. They put a lot of emphasis on TBS so they should encourage news flow here if it has a future for them.

Any other questions let me know and I will try and get some answers.