Member Info for randomaxe

Who is that from drewky? I guess its not been cleared because they're updating it....and they don't keep an eye on twitter or this bb.

matherdj, yeah just looked and you are correct, either way an RNS with some proof of 'programme acceleration' would be appreciated and might stop the death of the share price by a thousand cuts!

Sorry not down, the faq is blank!

Yeah fair enough, can't disagree with any of that. Just wish something, anything would happen here. So dull!

I see the websites still down

Yeah it was a decent podcast, still a lot of boxes to tick though before we can get the champers out...

Hopefully its doesn't take long to get a contract written up and signed off by the government for RHA, that would be a good first step.

Well to be fair if the farm out is completed I won't be too worried and will of sold out and hopefully at least got my money back. My concern is that they've done this placing because they aren't confident of the farm out being completed by the end of March and so they have diluted shareholders some more to keep the gravy train in motion (and get the BOD a few more cheap shares).
I was hoping to see an RNS in the next week or so to confirm progress in the accelerated program which would also restore some confidence of this farm out ever being completed.

Probably wishful thinking! History definitely does not, but I also doubt they would lie in an RNS about the reasons for the placing...

with Justin

We should also get an RNS soon, next week or so, on the Kiliwani/Nyuni acceleration. They must of had something planned otherwise why do the placing 6 weeks before a cash injection. They must of at least made a start on the reprocessing of the existing 2D seismic and what with the depressed market conditions they'll have a team lined up to progress the 3D.

Also must have an update on the worlds longest well remediation program at KN-1.

Yeah same, will be checking for RNS' first thing tomorrow and the only thing I want it mentioning is Zulu, not a peep out of the P word!

https://twitter.com/Premafrimin/status/1098235405382623235?s=19

It's a good start! We're still expecting an update on the Zulu meeting as well aren't we?

Maybe they're going to copy and paste my alternative answers from last week ha ha.

Agree though, got to be a good sign something is finally happening...

ha ha, hopefully he gets the deals done before they drag him out by the scruff of his pringle.

anyone know if the meetings went ahead as planned?

https://www.africaintelligence.com/AMA/railways-roads--ports/2019/02/19/asmara-addis-peace-opens-road-for-potash-projects,108345401-ART

Need a log in to read, anyone a member?

Basically its saying that Asmara-Addis peace makes the Anfile Bay port construction more likely which will reduce the costs of exporting potash from both Eritrea and Ethiopia.

Exactly, well said blocker. We were up a certain creek without a paddle prior to TE-10 drilling, things are looking good now though and this will be reflected in the share price eventually. I did expect this to take us up over 30p and definitely didn't expect a red day, not the end of the world though and wouldn't surprise me if we get a few blue days as more people see what we're looking at here and a bit of positivity is restored....it's been a rough ride here for a couple of years now with Badile etc and then TE-9.

Dissappointing......seems there's very little interest here after several dusters and missed deadlines. Back in the bottom drawer for another couple of months it seems.

Can't see how anyone could take that RNS as bad news, market reaction been pretty subdued though, still sitting at sub 30p, guessing that is due to the timescales. Also where the heck is that GSA....

OK last one then I also need to do some work (these dolphins won't train themselves).

So, if I was a CEO who wanted to deliver shareholder value, I would do as follows (however it is hard to give answers when we don't know the truth of the situation):

Are additional approvals needed for remedial work on Kiliwani?
I would tell them what ever the government told me, instead of telling people at EGM one thing and then leaving a vague answer on the website.

What is the latest on a licence extension on Mtwara?
I do not know, we have put in the application and have been assured we will get a positive response, there are no timescales given though. However as I have overseen a constant decline in the share price recently from highs of 7p to less than 1,5p I will be reducing my and my BOD salary significantly until I actually have something more to work on. I also won't be needlessly adding the BOD while the farm out is confirmed.

Are you fully funded for CH-1?
If the farm out is finalised, yes we will be.

Why are you acquiring more seismic over Ruvuma and when can we expect it to take place?
So we can find the oil and gas there, as soon as we can (after farm out is finalised).

What is the status of drilling CH-1?
Well we spent a good few months on the tendering for rigs, which we completed in July or August last year. Since then we reviewed the tenders for another 3-4 months and now have a rig and a company in mind, so we are waiting on approvals and the farm out completion.

Can you confirm that the deeper target at CH-1 is oil or condensate?
This is maybe the only one they answered properly...