Member Info for SageAIM

over 10% placing at 0.50p, drop overdone? what do you guys think? dyor gl all

Placing done at 0.50p, guess the 0.50p maybe bottom, time for sp to rise back? Drop overdone? Placing is only 10%, dyor gl all

need to take their next step very carefully and not repeat the Morocco scramble ever again, Dyor Gl all

Dyor gl all

1p MMs come on, dyor gl all

amazing :( , dyor keep faith, gl all

keep faith, dyor gl all

1p coming, dyor gl all

it's not 2 MMs, its just WINS doubled it's stake from 25k to 50k, bodes well dyor gl all

at 0.85p, tick up coming, Dyor gl all

Dyor keep faith, gl all

should touch 1p atleast, dyor gl all

Sp should be atleast 1p based on the cash and cash receivables, dyor gl all

Expecting a bounce and likely to settle around 0.90p at close. Think Galp has to pay $3.4million for sale of our interest and I think if we don't sell then obviously there will be some commitments etc. Not to sure need to research bit more on this point. dyor gl all

Yes think Galp had been very smart with their budget, dyor gl all

Forgot to mention.... If the share placing does not happen.... Then we have $4.65million (including Galp's $3.4mil consideration) Or around £2.90million So based on current share capital 252million, I make the base share price as 1p! So all is not lost yet, keep faith and reject the share placing! :) Please feel free to correct me if i have missed anything. Dyor, keep faith, good luck all

So... GALP has overspent....wait for it..... $54 millions! ! Of which TPET has settled their portion of $18.5 millions. This is even more laughable as the cost does not directly relates to cost of drilling. Simply amazing! I can't stop feeling someone has made a lot of money out of this overspend and it's not just Galp. I am surprised that TPET BODs didn't mention any dispute or concern with this overspend! But... Now that all the bad news is out so let's look at the good news (there has to be some!)... We are not bankrupt. ... we have $1.25mil cash in the bank + $1.2mil placing and $3.4mil coming from Galp sale of interest. So I make it we have $5.85 millions Or £3.67 millions. Now why did BODs did heavily discounted placing? I have a feeling some of the sophisticated friends won't to make some money (see the appointment of two nice secretaries! ) and that new ventures are likely to in final stage considering so much free time they had during share suspension. Valuation. .. Now given that we have £3.7million and a great management team at 452 millions shares the base Sp value will be around 0.81p so if Sp drops below this amount grab shares with both hands. Please feel free to correct me if i have missed anything. Dyor, keep faith, good luck all

Mr David Wall Managing Director "As a leading oil and gas equity analyst for the past six and a half years, Mr Wall brings extensive experience with junior oil and gas companies, with a particular focus on Africa. His skillset spans asset evaluation across many fiscal regimes / play types as well as corporate advisory / M&A and equity capital markets, having led >$300m in capital raisings." "Prior to his career as an analyst, Mr Wall managed a small team at Woodside Petroleum Ltd that reported to the Executive Committee. This team was responsible for vetting reports from all departments within the business, prior to Board submission, including exploration, development, operations, commercial and M&A. The team was also responsible for generating the annual budget and providing significant input into the Five Year Plan and the Company Strategic Plan. By virtue of these experiences, Mr Wall brings strong commercial and strategic skills as well as generalist knowledge across all levels of the oil and gas industry. This is complemented by financial markets experience focussed on junior exploration companies, with specialist African knowledge. Mr Wall holds a Bachelor of Commerce from the University of Western Australia, majoring in Management and Finance." Dyor Gl all

continues... "The Group’s forecast cash flow requirements to 30 September 2014 reflect outflows from operating and investing activities in excess of its available cash resources at 30 June 2013. These requirements reflect a combination of committed and uncommitted but current planned expenditure. As referred to in the Director’s Report, the Group announced on 3 December 2012 that it entered into a farm - out agreement with Galp Energia for an assignment of a 50% interest in the Tarfaya Offshore Block. Under the terms of this agreement, the Group will receive US$7.5 million in back costs and Galp will also take assignment of the US$3 million bank guarantee and therefore the Group will have this additional cash available. At the date of this report, the only outstanding condition precedent to complete this transaction and for the Group to have additional US$10.5 million available cash are the approvals by the Moroccan Government. Management is confident that this approval will be granted shortly. In the unlikely event that the approvals are not obtained and the Group is unable to raise additional funds to meet the Group’s ongoing working capital requirements when required, there is significant uncertainty as to whether the Group will be able to meet its debts as and when they fall due and thus continue as a going concern." dyor gl all

whether the company had to raise the emergency capital at a heavy discount price to satisfy the going concern accounting principle to produce the half-yearly accounts. This is from June 2013 half-yearly report: "(c) GOING CONCERN The financial report has been prepared on a going concern basis. In arriving at this position, the Directors have had regard to the fact that the Group will have access to sufficient working capital to fund administrative and other committed expenditure for a period of not less than 12 months from the date of this report." Fingers crossed, dyor gl all