Member Info for Rickylfc5

Fsj - in my view they have done almost everything possible to move the share forward, from hitting all targets to institutional presentations and still the SP drifts lower. They now have to back the Company with share buy backs - 2 months FCF will currrently buy 10% of HUM Dividends can come later but they need to buy shares while they are at these low levels

Unlikely to get a response due to your aggressive questioning in the past. He may rise above it of course.

Ajb - please, please, please, sell and go and moan elsewhere - you just repeat over and over again the same moans. You don't have to tell anybody on here about delays - we all know it and are frustrated (as are the management) so, unless you have something new to say, stop posting. You must have an issue dealing with people as you have p*ssed off many on here as well as AC

You're probably that frustrated that you will be adding more to your SIPP shortly

AJB - you are obviously a respected authority on workover complexities (2 miles under ground) how long would you say they should have taken - bearing in mind the problems left behind from the Soviet times. Why don't you ask AC - oh know you can't because of your previous aggressive approach - sack them all!!!

Some great technical posts on here - forgive my ignorance but when Z21 starts flowing can they continue drilling down (hopefully to the larger deposits) without interrupting the flow??

GG and Sarge - many thanks for your reply. I am fully loaded with ZEN and feel this could go either way depending (obviously) on Z's and Indonesia. It is comforting to know that AC has lots of skin in the game nut one thing that worries me is the current rate of cash burn. They are showing a monthly profit in their trading but they capitalise alot of the workover costs which means that profits look alot better than cash flow - the delay in Z21 will not have helped with the current cash position and with AC having to pay the $100k deposit (re Indonesia) and the rollover of the debt (this week at 15%) I think cash is probably tight

We all saw the oil exploding out of Z21 on the video a few months ago due to a build up in pressure- how come the oil isn’t bursting out now during the drilling program??

I think once we get north of $1400 and heading upwards the market will start to re rate gold miners generally and (if this combines with constant good production news from Hum) then there could be a decent rise - I till think 80p ++ this year is easily possible

I'm convinced that it will probably take a rise in the gold price to really kick HUM on towards a decent price

Ever wondered what happened to Bebolder?? Well he’s still posting childish rubbish on ADVFN (he is called Grannyboy and has a bottom friend called Sleveen) all I can say is success for Zen for me in very financial but also to shut him up

Sarge - AJb's constant repetitive rants wind alot of people up (including AC who now ignores him) - he fails to see that Zen have had issue's (which are not surprising at 3000 meter depths) and management have acknowledged that they were overly optimistic in their assessments and have found the workovers harder than anticipated

Indonesia starting to make more sense (re the seemingly low purchase price of $6.6m) Using $65 per barrel we will get 57% of this = $37 and our production costs of are $18 so we have a contribution of $19 per barrel which is still alot of extra potential profitability to our bottom line.

What are their mistakes at these wells - you are convinced they made them - or were that just anticipating more than was achievable

What are their mistakes (other than over optimism) have you been to site and observed the wrong drill bit being used or a similar gaff??

Ajb - change your tune - same questions (most already answered with RNS’s) look - it’s been a lot harder than they anticipated (you have to expect problems in the work over world) so get over it and try not to be so annoying

Yes we’re off to the Lucky Goldhum - you coming??

I believe a few months ago Ajb was quite aggressive in his emails to AC and probably turned him off.

Mudstud - i'm not sure on your calculations - 5000 bpd would give us about $300k per day profit (at $80 per barrel) which is $2m per week and about �70m p.a - and based upon current issued shares we would have a PE of around 2 at �1 per share

We are all frustrated at the low price of Hum (compared to cash flows and other metrics) and I am of the view that the main trigger for a re rate is going to be the price of Gold - as it moves up (hopefully to $1400 ++) driven by further world events and a safe haven status we should start to see HUM rise (shouldn't we??)