Member Info for steve58

IMO nothing.

8.34% free carry.

About 12 mcf a day.

Could be the board may do something like this.

Would free up cash for further investments.

Maybe enough left over for a small dividend.

Undervalued.

We were worth in excess of 40 million pounds in the reef days.

No Ruvuma no helium, just a measly 13 barrels a day from the ausible reef and I don’t think we saw any of that.

Must be worth many times current market value.

Once the market wakes up to the fact that we own a percentage of two very valuable assets it should get very interesting.

The board did state mid cap status within three years and we are over a third of the way through that timeframe.

Could be that they have all their drilling costs paid for up to production.

Although we also have helium one which could be worth more than Ruvuma.

If we hang on until gas almost flowing we would have our costs up to production and no income.

IMO not worth waiting years more to get a better price as after the millions of additional costs and probable dilution are priced in the extra we receive for a sale may just not be worth the wait.

More licences will have to be applied for which may even add years on to the development.

It will be interesting to say the least what the board decide to do.

I do sometimes wonder why we bother investing here.

Good news and the sp still falls.

Maybe a sale for £100 million plus next week.

That should get things moving in the right direction.

When they announce their timetable of drilling etc will they need permission from the Tanzanian government?

The recent agreement was only for the farmout and that took over two years.

IMO we can not afford to hang around waiting for endless licences and permissions getting granted.

For a start the current drilling licence expires in just over five months time.

Disappointed by very small increase in sp.

£40 million plus would be very tempting.

It’s whether the board think the extra expenditure and time frame are worth the extra we would then get for a complete sale.

IMO a very close call.

I think more than £50 million would seal it.

A nice return to shareholders by way of a special dividend and £20 to £30 million for new investments.

Interesting weeks ahead.

Morning Chris.

New name new start.

Let’s hope so.

I am trying to work out the best price we could possibly achieve for a complete sale.

Very difficult as we don’t know the potential buyer.

Would probably get more from a larger company.

If valued at a cove energy sale value about 60 million dollars would seem about right.

All imo and based on my arithmetic which could be incorrect.

Seems someone has caught the Tanzanian go slow bug over at aminex.

I know it will all go through but why is everything at aminex and here always done at a snail's pace.

Once ruvuma out of the frame should start moving much quicker.

Watched interview.

Didn’t give any new information.

It will be interesting to see if Ruvuma is sold completely.

They are keen to reinvest income into future investments.

My hopes of a special dividend seem to have all but disappeared.

Potential ten bagger.

I think we would nearly all settle for that roll on 20p only £150 million mc.

I shall listen to Malcy’s interview tomorrow with much interest.

News of farm out completion/sale etc to drop soon.

Looking better than for ages.

Evening Chris.

Maybe on completion of farm out they will announce an offer for their stake.

I assume any offer has to be put to shareholders.

About £100 million seems about right.

It will very interesting in the days ahead.

10p plus needed here.

At this rate about a week from now.

Anything’s possible here at the moment.

Great day.

Been a long time since we have had a rise like this although be it from a much smaller starting price.

Now showing 1.54 solo showing 2.0.

They timed that just right.

About 80% profit.

More dilution of course but cheaper regarding costs.

We know that the board have reiterated they want to grow the company to a mid cap within a few years.

IMO the way forward is a complete sale of our Ruvuma stake. Does of course depend on how much we get. I would hope for at least 50 million pounds cash. If that is the case circa 30 million for investment in cash generating assets and a dividend of about 3p a share cost 20 million pounds.

That would compensate us for the years of waiting and loss of shareholder value.

All just my way of seeing things.

Should be a very interesting to see what a actually happens in the next few weeks.

Maybe sell 15 to 20% and keep 5 or 10% free carry.

All depends on how much an offer is if made.

I would consider any offer in excess of 50 million pounds a very reasonable one.

If we keep it we need to spend many millions more and probably a few years until any income is earned.

Sell it and it frees up cash for other investments that would hopefully generate cash from the start.

I do of course expect a dividend that was promised many years ago by nr.

Let’s hope the board maintain that promise.

Mid cap