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Hope so.

Even with a first deal done should rerate.

Even at £100 million mc only worth about £4.5 million.

Why didn’t they get in at the ipo.

Probably too busy.

Page 39.

Hope these max figures include any fees.

Page 39.

Not sure if any fees taken are included in this maximum figure.

Very interesting found on companies house.
Sections 112 and 113 very interesting.

Not sure if bog standard but I don’t think shareholders will be too happy given the current state of play here.

Seems about the same here.

Directors taking the money out one way or another for basically turning up for half a dozen meetings a year and promising shareholders so much bit delivering so little.

Evening Chris

Good to see a rise albeit quite small really.

The only way the sp will rise significantly is for the sale of ruvuma and a cash generating deal or both.

I still remember I think it was just after the horse hill billion pound discovery the shares were 1.3p
26p pre consolidation sept 2014 if memory serves me right. I had my finger on the sell button but thought it would go higher, how wrong I was.

Had 12,000,000 then £156k. Now need about 13p to get back to that only about £95 million mc.

Maybe if the aborted one dyas deal had of gone through who knows.

We were promised mid cap in three to five years.

Shouldn't say it but we currently have mid cr*p in two. They had better get a move on.

Well they certainly don’t seem in any hurry to chase anything else up.

Just a thought anyway.

Potential £1 a share in a short time.

What do we have here.

Potential 1p a share most of the time.

maybe now is the time to kick their strategy upon the backside sell ruvuma for whatever they can get and make an offer for helium one or at least spend the ruvuma monies on building a large stake.

Seems a no brainer to me.

Better than the load of nothing we have had for years.

Im sure they could generate a big profit for shareholders in a relatively short space of time.

Another four years until any ruvuma income at least.

If the forthcoming licence renewal is late then that will add yet more months to theme wasted so far.

Afternoon Chris.

Very good from helium one.

We still need about 10p plus just to break even.

Still waiting on our board.

Not at all impressed.

Maybe they should have stuck with the one dyas deal imo. At least we would have had 20million cash flow a year.

Instead we have no cash flow.

Good morning Chris.

Let's hope this doesn't set back the imminent licence renewal.

Still no deal from our busy board.

I can't believe there would have been decommission costs as it was hardly commissioned in the first place.

I recall all was going ok then a few problems the main one being reef resources ran out of cash.

Solo decided not to increase their share or spend any more money.

Lets hope our board can come yup with a super deal.

Does look less likely as the type of assets they are now targeting are getting more expensive to acquire.

At current sp we need to issue a billion shares just to raise £10 million.

Afternoon Chris.

Hard to believe their wasn't any money to be made out of the ausible reef.

Can't complain.

I think we got a few barrels of condensate and spent about $2 million in the process.

To think solo as it was was valued at over £50 million at the time.

We couldn't even sell it for £1.

The board are getting very close to being kicked out.

They are supposed to be running a profitable business for shareholders.

If this continues much longer, there will be no business or shareholders.

Still trying to fathom out how four experienced directors have in three years achieved imo nothing whilst spending millions in fees.

I was expecting a ten minute video today of the reef disposal but doesn't look like one is forthcoming.

Generally disgusted at the lack of communication or anything positive from this bod.

Looking forward to the video interview.

Morning Chris.

You are right there.

Nearly three years I think to dispose of an asset for £1 and even that has fallen through.

We can see that they have been working flat out.

Almost laughable situation here.

The last part of the Rns definelty takes the biscuit.

I heard that helium powered airships are being built to do the job. Although it could of course be like scirocco a load of hot air.

We basically have two assets that are very difficult to monetise. Ruvuma drill q2 next year ties in with licence renewal. We still have to get one granted this April. If it's anything like the last one we will be very lucky to drill in Q2 next year. At least 3 or 4 years from any income. At least helium may be able to be monetised much sooner if drilling goes to plan.

I wouldn't be surprised if the bod had a deal lined up but the seller had put the price up.

It could be that the assets that are being looked at are just getting too expensive to buy.

Does concern me that with no news on any potential sale or new investment the price is just going down and down.

Helium one drilling in next few months.

Ruvuma next year but no income from anywhere for at least three years.

Absolute shambles.

I assume that when the annual accounts are published the investment in helium one will have to be written down to book value.

SP was 6.62p on 29th December so a hit of over a million pounds.

Together with the usual fees and admin costs it doesn't make for good reading.

No income for nearly three years doesn't help matters.

So much for considerable gains.

About 800k down if I read it right.

Sp hovering around 1p.

Would need to issue a billion shares just to raise 10 million.

May as well just cash everything in and become a cash shell.

The way we are going we will be a shell without the cash element.