Member Info for steve58

Looking back at the amount of time taken so far I would not like to say that anything is a formality regarding ruvuma.

Good to see sp north of 1p.

Thanks.

Although as I see it. No production licence no income.

I would think they would want the licence in place before all this expenditure is made.

The one applied for in September 2017.

Am I correct in saying that the farm out is worthless without the 25 year production licence?

Morning Chris.

Thanks for that.

I do hope our board sort some king of income earning deal soon.

We probably have one of the most experienced boards of an aim company.

It’s been over a year since a new strategy was announced.

We are still waiting.

They haven’t even updated the company website for the aborted transaction.

Not very impressed with things at the moment.

Looks like we have to find about 700,000 dollars to pay our share of the tax payable to the Tanzanian authorities.

The board nerd to get a move on in generating some income soon before our ever decreasing cash disappears altogether.

I’m banking on a deal or deals. Their must be some absolute no brainers out there at the moment.

Weather getting better again so outside again.

All the best.

Steve

Their must be news on Ruvuma, a deal or deals of some kind, helium one.

I have bought more in anticipation.

I know I am trusting the board to deliver.

The directors shareholding’s in block energy are most interesting.

Have a safe weekend everyone.

I didn’t realise two of our directors hold over 9% of Block Energy between them.

Definitely something in the pipeline Imo.

With all the upcoming drilling production and our asset base. IMO could be mid cap within a couple of years. Does of course depend on a much higher oil price.

May of course get taken over.

Interesting months ahead here.

Hi Steve

All ok hope all well at your end.

I’ve had e mail replies from mr Zorab which were interesting.

I enquired about how much Leed acquired their shares for.

Answer 3 separate tranches with a blended average of 31 aus cents a share.

I also asked about any relisting plans and share options that were due to expire this month.

Answer Relisting is expensive minimum cost £300,000. Share options will lapse.

Regarding nxt company the website looks very impressive.

They were hoping to have an ipo at about $1.90 Aus a share so would make our investment worth around $2 million aus dollars.

Look on nxt website under case studies the chittering valley resort project is in the region of a $500 million contract.

Look under news section release 17.12.2019.

Together with other projects this is looking like a multi billion dollar company.

It’s just a shame that our directors couldn’t relist raise more money in the markets and even rto into Leed. After all we are a ready made company with about £4 million pounds of losses that can be carried forward against future profits.

Apparently nxt are intending on having a London listing. An rto would certainly speed things along.

Hope for some news soon.

All the best.

Steve.

About 90k. Would like about 20 to 25p to get out with a reasonable profit.

Promise of 20k barrels a day and mid cap status within three years. That was a year ago.

The current situation is no fault of the boards, however, we have basically had a new board in place for 18 months and imo they have achieved nothing worth talking about.

They have sold out of horse hill iow and reef although still not sure about that one.

I read in an article that about 50% of licences are not being granted.

Let’s hope it’s not our one although I cannot see it being granted.

The cash must be diminishing and a fund raising at the current sp if not for an asset addition would be a waste of time.

I would feel a bit more at ease if some kind of update was issued but it seems that we shall hear nothing until something worthwhile materialises.

Not a very impressed shareholder at the moment.

So could indeed be the largest uk onshore discovery.

Ukog only 55 sq miles.

Good morning to you.

Long time since I replied to you on the bb.

Got in on Friday at .10.

Definitely huge upside.

Even broker has pencilled in .70p.

Keep well.

Same here.

Got a million yesterday at .1p.

All looking good for plenty of upside here.

Morning Chris.

A few hundred a month down on pay but not as bad as it seems.

Probably saving £200 a month on fuel.

Probably start that business I have been threatening to do the last 20 years.

Keep well yourself.

Not sure if Ruvuma will ever happen given the current gas price.

As for new deals there will certainly be some bargains to be had.

The deal that was supposed to happen being aborted was definitely the right decision.

Financing for any future deals could be a problem at the moment. I think we will just have to sit things out for three to six months.

They really need to update the website. Still showing as if deal is going ahead.

I have been looking at hmrc site. It seems if the directors furlough themselves 80% of their monthly salary up to £2500 a month will be covered by the government for at least the next three months. Only problem is they are not allowed to do any work whatsoever for the company in the time they are furloughed.

Got furloughed myself today. At least the nights are getting lighter and hopefully getting warmer.

I for one will be glad when this crisis is getting better and life can begin to return to normality.

I now have a few months for gardening decorating and maybe brush up on my cooking skills.

Keep well everyone.

Hope all ok with you and family.

At least the weather is good so our gardens should be looking good over the coming weeks although not sure if garden centres will be open.

Evening Chris

Worrying times.

No work for me until 14th April at least. Holiday some from last year.

Then two days at office three at home. Although only three people in six offices so very well spaced out.

Regarding solo. We should all be grateful the deal was pulled. Income would probably not have even covered borrowings. Ruvuma imo may not even happen. Helium maybe.

We have a million or more in the bank so should just tick along with minimal expenditure.

Any deals will probably be reserved for the autumn at the earliest.

We may be surprised but until thing have returned to some kind of normality around the works I would rate the chances of any deal happening as very slim indeed.

Take care.

Steve

I would much easier with 20 million in the bank

We would still have helium one.