Member Info for steve58

Point taken.

Speculate to accumulate.

So spend £5 million to earn at least an extra £50 million from a complete sale.

With helium one ipo drilling etc we could have a huge war chest in a matter of months.

I haven’t of course forgotten the promise of a special dividend.

As with everything here we shall have to wait and see.

I am as confused as almost everyone else.

The board have a strategy lots of big plans for the company.

They have sold off a couple of old assets at an overall loss spent lots of time and money on an aborted deal ( gas price now higher than last October).

They have changed the company name.

IMO an awful and embarrassing list for two years hard graft.

Still not at all impressed given the boards credentials.

Maybe next week it will all change but I fear new name same old company.

Afternoon Chris.

They originally stated 5000 bopd and quickly raised it to 20,000 bopd.

They then said we would be mid cap within three years.

They have less than two years to keep their promise.

Even the aborted one days deal was only just over 2000 bopd.

At the amount they were going to spend on the aborted deal we would be looking in excess of £300 million investment to acquire a 20,000 bopd production rate.

Could be the 20,000 bopd equivalent includes Ruvuma and helium one production.

Roll on Monday.

To achieve that sort of daily output they would require very large acquisitions spending in the hundreds of millions in the process.

Twenty maybe thirty million for Ruvuma where’s the remainder coming from.

I can’t be many shareholders wanting to invest any more here unless they are going to get a good return.

They will certainly have some awkward questions to answer.

Absolutely nothing to enhance shareholder value in two years.

No income and millions spent in fees etc.

Their strategy forward may be of interest regarding sale of Ruvuma stake and forthcoming helium one ipo.

As for being a mid cap company by March 2022 maybe someone should ask them if this is still possible and if so how and when are they going to do something about it.

Should be very interesting.

Basically a name change which has taken over a year to implement.

As for future strategy seems it all hinges on what they decide to do with the Ruvuma stake.

Helium one may come more into play as ipo seems to be on the way at last.

The board still have a great deal to explain as to why they have achieved basically nothing in the last two years and spent millions on fees etc in the process.

Rto’s always did confuse me.

As long as any future deal is good for us shareholders I don’t honestly care what they do.

Apparently the article mentions that they have already signed a deal to have helium transported from site by airships.

Cheaper than road tankers.

Only 2.34 million pounds in losses. Still a Corporation Tax saving of over £400,000 if rto route taken.

Helium one seems to be valued at around the £20 million mark.

We could rto and finance drilling etc from our Ruvuma sale money or loan facility.

Should be able to farm out or sell for a big profit. All imo.

Afternoon Chris.

I’m not sure how much a bcf of helium is worth but even at a 10% extraction rate should be billions of dollars. As I said previously we have millions in losses available to use against future profits.

If helium one go it alone they cannot be used as a tax saving.

I will look at the latest accounts to find figure if available.

The writer was of course paid to write it.

It’s whether it’s their own views or helium one’s.

Maybe when exit Ruvuma we should rto into helium one.

Does not fit in with strategy of European gas assets but would show a huge profit on the deal in a relatively short time frame.

Anything’s possible here.

So the kn1 already has a development licence but no gas extracted for three years.

Needs sorting.

Not sure if I’m correct but I thought the development licence was applied for in September 2017.

I seem to recall Jay at Aminex saying production within a few months.

Maybe confused with Kn1 which has dragged on for three years without any production or income.

Our share of that is about 8.25% due to Bounty dropping out.

Is been nearly eight years so I had completely forgotten.

The asset is definitely worth many times our current market value.

How many times is the worrying bit given the current economic climate.

We know that about 20 million has been spent on Ruvuma so we really need at least treble that to make a fair return on our investment.

It just concerns me that all those years ago we supposedly had companies lining up to farm in and it came to nothing.

As I have said the board are good at talking and making promises. Until something is finalised the sp will drift lower due to the almost total lack of confidence in the board.

I’ll probably back track on my words next week if a good deal materialises.

Let’s hope so.

Still dropping.

Maybe they have no buyers for Ruvuma.

1.5p.

Cheap or what.

At this point in time I have to agree with you.

Lots of talking and promises.

In reality they have achieved nothing and spent millions in the process.

All the assets we have were purchased by nr many years ago.

Absolute madness on here.

I know the markets are falling but becoming a joke.

Farm our complete and yet we still fall.

I just hope the board can get themselves out of this mess by 2nd November.

Good afternoon chris.

News item no 3.

An rto of helium business.

Would be interesting.

We also have millions available in loss relief.

One or more in no particular order