Member Info for RogerJolly

Right said Fred. Having seen the prospect of a raise I bailed at 2.06 and again at 1.87. Since bought a few back at 1.18 but lots of dry powder.

If it gets discounted for a raise I'll be laughing. If good news comes I think there will be plenty of time to get fully in before it doubles from here, so locking out is not going to happen for me or others that saw it coming.

The way I see it is I am hedged both ways, Heads I've gained. Tails I gain even more. It was a gamble for me because I'm not a trader, but I learned from the Christmas episode and wasn't planning to get caught again.

Is it too late to sell now? I don't know, we haven't seen any serious deramping going on like we did last time, but it is gradually slipping downwards and if that Christmas tag team turn up again, I would be very wary.

If I was to be selling now, It would only be 50/50, but my business is done, so good luck whatever people choose, I don't think anybody will turn out losers here in the long term. DYOR

Thanks Kevin. Likely there will be some quick wins for some traders, but my long term plan here has always been to hold for the future if this drill was to be successful. Jumped out when I saw the raise coming and now look forward to this side track.

If it is kind to us and the numbers stack up, they will be self funding for the full field development and the prospect of good profits from there would be excellent IMO. We will know this coming month. Good Luck all

Was hoping for the unlikely .004 but always planned to be in before end of month as I think there may be some news on date during next week.

I don't go with the idea of new money coming in for the new ISA year. People don't suddenly conjure up £20k. If anything like me when I was still working, it would build up through the year being put to use in a fund account. A simple Bed & Isa from there was not new money.

So the helium lifts these airships off the ground but what is going to make them move? Are they planning to get David Niven as the pilot? He might just manage a trip around the world in 80 days with a good tail wind 😁

Oh RoJo, Did you think I meant you? I wonder why you would think that? ;0)

Is that £77k dump yours at 1.10?

He might be of a minimal interest if he ever got around to posting anything in context, because his sound bites and truncated sentences and paragraphs are meaningless, but hey ho, if it keeps his ghost writer busy between holding fictitious conversations with his many other incarnations then so be it.

Basil I agree with all of that potential and it is great ramping material for the prospect, BUT at this time it is still just potential.

We are awaiting verification of commerciality and until that is proved up or the action starts, that info is wasted. While dreams will bring in some money, experienced investors will be looking for certainty of funding the next stage. Until that comes, I think in the main, you will be peeing in the wind.

It will come buddy but step by step they learn to walk before they can run.

Jung, "Early engagement with vendors regarding production facility engineering" Has already taken place and there will be no further progress on that front until at least after the EWT results are completed and of course that depends on how successful they are.

Don't forget they are also talking about the possibility of returning and finishing Tai3 and or drilling an appraisal well. Personally I see that as a fall back position for those talks.

If they hit the jackpot and it is convincing enough alongside subsurface modelling and the uniqueness of the well to prove a long term flow, then they might (long shot might) just get some funding/partnership etc from those people.

If they hit the jackpot and the long term is uncertain, then they will need to appraise to establish the size of the resource.

Personally I think they will have to appraise or at least complete Tai3 in order to get a supportive deal done.

We need to think it through from the potential partners point of view. If I was to invest in £100m? for production equipment for HE1, I and my shareholders would want to be 100% certain we were going to get a substantial ROI

I think the surge will only come when certainty is back and I don't need to say why. They just need to sort it or bring some news that will uplift confidence

Need to remember tat cost is Offshore, but lets assume it is down to a qtr possibly less, then it us still substantial.

The alternative is cold stacked where the machinery is not stacked and can rust and seize up for lack of maintenance.

Hot Rig this from Lonestar Exploration in 2017. (Offshore)

"Warm stacked rigs are, in theory, supposed to be maintained almost as if they were on contract. All machinery and systems are run regularly and checked, and the rigs have a reduced, but adequate, crew onboard. Assuming warm stacking is executed properly, rigs can be brought back into service relatively quickly. Depending on the type of rig and its location, daily operational costs for warm stacking are usually around one half of what they are when the rig is in operation. (down-size crew, equipment. support and vessels) = less cost."

Latest tweet "The government will not allow job opportunities that can be done by Tanzanians to go to non-Tanzanians"

*Tai3

3 potential jobs to do

1. EWT.

2. Tai3 completion.

3. Appraisal well.

The EWT is required at an unknown cost.

I wouldn't expect tie three completion to be overly expensive.

An appraisal would probably cost more depending on whether they use the original pad or whether they have to construct a new one.

In an ideal World if they could raise enough to cover all three options then we would not be so reliant on the EWT proving commercial.

Would £14 million ($17.6m) cover the lot? How long is that piece of string?

Nine buys at 1.17 total approx £42.00 warrants a tick up? WTF

The trades are a joke

Cheers thanks

Hi Crusty, been out all day. Anything specific caused the drop this morning (big sells etc) or just as might be expected after yesterday?

An RNS is exactly what is needed to quell any fears of a raise. However they have watched this slip for three weeks and not denied it. If I were CEO, I would have been all over it like a rash to nip any rumours in the bud.

I suggest the fact they haven't and the number of trades per day has fallen off the scale suggests that majority of investors/traders have made their minds up.