Member Info for RogerJolly

It is a gamble and I agree once a raise is announced there could be lot's of buying as many of us are sat with fingers on the trigger.

Some think news next week? Personally, I don't, but that's only my view. I read this tender as just more of the sort of planning I would expect from what we have so far been told.

However a couple of useful things within it, indicate one of two or maybe even both things. As they are tendering out for long lead items such as pipework etc and drilling muds, it does show an intention to either revisit Tai3 and or drill an appraisal well. So we can be fairly sure at looking forward to more than just the EWT action.

Back to the gamble... Where is that buying price? Ideally just above the raise price because the rush at that raise price is likely to push it up quickly IMO.

So who will hazard a guess at the raise price? I don't see it being a premium so looking at the way it is going at the moment, my guess would be anywhere between .5 and .7 if they can get it organised quickly which would be my preference, then if the sp can hold at current level maybe .7 to .8

Good luck to all hoping to catch the sweet spot

🤣 are we seriously down to a level of picking up faults with people's grammar?

Follow me if you want some fun with that.

Perhaps I should wait then, don't want you redundant too soon

Might consider some more in the morning, what do you reckon RoJo can you get it down further for me 🙂

DFG it would depend if any news comes alongside it when it arrives. Obviously, I'd like to use the dry powder at the raise price, but the last one bounced up pretty quick, so I'd have to judge the wording carefully to avoid being caught by the inevitable hype one way or another from the day trading herd. On the other hand the one at Christmas dropped below the raise price and some got in at .0019 after I got a new tranche at the raise price .0025 That was a good 20% better deal I missed out on, so it shows how hard it is to catch the bottom.

I wouldn't argue with your dilution numbers, the question is really at what point does it start. It seems we have both covered ourselves for both eventualities so not something we perhaps have to worry about. Obviously I would like to make the most of the situation whichever way it goes. If only we had a crystal ball 😁

On that basis Crusty my hedge of some in and a lot of dry powder waiting could work well for me.

The thing is basin modelling could be another month or two away, so the question is raise now, perhaps at .75 or let it drift to .05 ish? then hope it gets to 1p or more on the model results.

Six and two threes if you ask me. A gamble either way.

Unless they know they have something really big, I would sooner see them settle the market now. It must be a tough call for them to make. I'm just still wary of our Ms Cope and her city friends.

How long before they make a funding announcement? Surely it's better to do it now rather than wait for it to continue down the slippery slope? Are those funders back in control like they were at Christmas?

I feel and fear for you guys who stuck with it. I doubt you will lose long term, but you may end up kicking yourselves for not reading the room.

Being CEO is a more stressful role that chairman or NED. Larry has got us to this point on the cusp of bigger things and perhaps feels it's time for a younger man to take the reigns. Can't say I blame him, after 40 years it's time to take it a little easier. If they can get anywhere near the 900bopd that they think is possible, then it will be all action as they develop the field over the next year or so. Looking for a COO is for me a positive sign that FFD is being planned for.

A little surprised it has not climbed a bit today, but I feel I was right getting back in before the weekend. I expected an RNS this week.

Beacon confirms that the rig mobilisation is on track with the rig due to arrive on location in mid-April with the sidetrack operation scheduled to commence the following week.

Petty stuff Mad, before or after, when I saw it coming I reacted, the sp as it is, says I was right to do so.

PS yes it would be nice to have some news this week on the April sidetrack date for Beacon. Good luck to those of us in it.

Nothing to call me out over, 1.87 after a debate with a couple of others on here over various funding options I put forward, which they made me realise were not possible. The point of these boards is to have grown up debates about the options and if somebody points you to something you are missing you have to be man enough to change your mind. With my reasons for staying fully loaded, burned, it would've been rather stupid of me to stay all in wouldn't it?

I think I made the right choice don't you?

Fully researched here thanks for your advise, why else do think I protected myself from the recent big falls?

Perhaps because I saw it coming this time?

Doing the sensible thing I've hedged my position, how about you? What is your protection if it all goes tits up?

Lived through two crippling dilutions and lucky to come out of it due to the recovery and I've been totally honest about that.

Do you seriously expect me to stand by and allow myself into that position again?

I have no objection to you putting facts on the board but I do object to lies on whatever side anybody sits.

Stick to facts and the only complaint you'll get is from those bored with seeing the same regurgitated posts multiple times daily.

I really have no problem with your longterm view, but you are blinding yourself and your fanclub to the short term problem of funding the next stage.

PS I don't need to research your posts, I remember you giving that advice, so attacking me to deflect from your own lies won't cut it.

No of course you don't ever encourage and advise people to buy... 27th March 8:02. "Seize the opportunity to get in this cheap as it’s extremely undervalued and will rocket within little time and unexpectedly." 🙄

GL it is pretty certain we don't have the funding for the EWT and clearly the drop indicates that most feel a raise is coming. People only need to read the RNS to see what the last raise was to cover and it did not include future manual work on the project other than maintaining the rig in hot stack status.

I've said many times, I'm very confident of success here and I don't think those buying now will lose out long term, but with a raise almost certain, then a better price might well be had in the near future because of it drifting.

There are some continuing to pump the benefits here and they are right to do so, but sadly they ignore the current situation. Unlike some willing to wrongly give investment advise, I am not one of them, but I would strongly advise people to thoroughly read the recent RNS before making their own mind up and I wish all good luck whichever way they choose.

GL the problems causing the fall are the EWT funding. Until that is settled in the minds of investors, it is likely to slip further in my opinion, but to answer your question, if the EWT proves commerciality, then it could quickly smash plus 3p maybe even 5p, with more growth to come as it gets closer to production.

Let's get the funding sorted asap to bring back some confidence.

In Tanz there has been buy in rights attached to licences in the past. As far as I know it's never been mentioned here, but I would assume it's still a possibility when it comes around to getting a field development licence. Although ideally there wont be any, I don't think it would prevent holders from making good profits.

All will become clear when/if the testing proves expected commerciality.

Scott "they have funding for flow tests of Itumbula "

Please link me to confirmation of this and I will go all in on Tuesday morning.

Personally I think you must have dreamt it unless I have slept through a communication

Thank you

Then PC I think you will be surprised. While it may give the sp a boost, it's unlikely to rocket while we still await the EWT results imo.