Member Info for steve58

We could take out aminex for under 50 million.

Without licence worth next to nothing with licence ££££££millions.

If the Zubairs walk who knows what could happen

Hi Chris.

If memory serves me right March 2012.

Regarding strategy. The bods change of strategy was almost a year ago.

Hope it’s implemented in some way very soon. IMO all depends on monetisation of Ruvuma as soon as practicable and at the best price for shareholders.

Regarding new investments, there must be some absolute bargains to be had at the moment.

Probably easier just to buyout a small producer completely.

Good to see you are still posting.

Interesting developments elsewhere.

Hope all good with you.

Definitely worth a look.

Zzzzz.

I'm starting to wonder if we have one.

Basically eight years and assets that the market are saying g are worth very little.

If the zubairs pull out then ruvuma is finished.

On the bright side if the deal would have gone through how much more would we have lost and would have had loans to repay.

Happy birthday to you.

I am of the opinion that if for some reason the licence doesn’t get granted as you say aminex would be in a worse situation than ourselves. Little cash and no farm in partner.

I hope that this never happens. A licence soon please.

True Chris however it was years ago the appraisal well was drilled.

If the Tanzanian government doesn’t get these licences sorted their will not be any companies bothering to do business in the country. Waiting years for licences does not generate income which is what companies want.

Have a good weekend yourself.

We have no income, our assets are worthless until the various licences are in place.

Cash is reducing. Borrowing to acquire assets will get more difficult.

The last eight years have been wasted imo. We have a new board that have done a lot of talking but in reality have achieved little. Nr acquired all the assets we have. I know he waffled on a bit.

We have a very experienced board which are not cheap. An update on our cash position would be most welcome. We need a deal very soon to bring some income into the company. Even 500 barrels a day would be better than nothing. Maybe they though a deal of the size that failed was in the best interests of shareholders. Big isn’t always best. As for Ruvuma it is just farcical and the remedial work at ntyora hasn’t even been given permission. Let’s hope next week brings some good news from somewhere but with oil and gas prices going into freefall a deal of any kind is looking even further away than ever. I hope I’m wrong but the future is looking bleaker by the day.
The sp is certainly doing the talking.

Although the markets are down our fundamental problem is we have no income.

I trust the board are aware of that and are working flat out to remedy the situation.

20000 barrels a day in 30 months.

Not to sure it will happen.

Just gets worse here.

Maybe we should have acquired the gas assets.

We may not have earned a fortune out of it but would have had income. I'm sure the gas price would have recovered.

The board probably would have got it for a lower price but must have asked for too much off.

As for ruvuma a complete joke imo.

May as well.

Would probably be at least another five years before any real return anyway.

A small dividend and the rest invested in producing assets that give us money in the bank now not in years from now.

No thank you.

Maybe we buyout aminex.

Not much more than the aborted deal.

I think the fall in the sp is overdone.

The deal falling through is probably in everyone’s best interest given the fall in the gas price.

The main things worrying the market is the lack of progress regarding Ruvuma and the helium one ipo etc.

I still think the board will exit Tanzanier as soon as possible given the time that it has taken to basically achieve very little.

We could almost be looking at our Tanzanian assets two years ago.

Looking at the sp I hope the board have one.

The deal has fallen through taken 5 months of bods time and our money.

We are in a much worse position financially and there is absolutely no confidence in the company at the moment. The sp is proving that.

The board need to get some income however small into the company and soon.

The boards strategy seems to be get out of Tanzanier as soon as possible as a complete waste of time. On the bright side any gas assets up for sale should be a lot cheaper.

It was obvious the fall in the gas price had a factor to pay.

We would have overpaid big time.

Worrying that five months have gone by all the expense involved.

Given the current market conditions i don’t think the it will go down very well,

We probably haven’t done the deal as the gas price is falling almost on a daily basis.

May be in the best interest of shareholders that the deal doesn’t happen at an inflated price.

Oil is also falling.

Maybe they get into the potash market.

They could also be delisted.

That's what happened over at leed resources when they couldn't implement
an investment within 6 months.

I'm still waiting on that one.

Is all I can say is the directors had better get a move on.

The time frame is now only about 30 months to boards goal of becoming a mid cap production and exploration company. We are currently a very small company with some cash in the bank and assets that should come good but are worthless at the moment without the necessary licences etc.

The board will have to get there scates on if the mid cap status of the company is to be achieved in the desired timeframe.

Is it really 8 years since nr was in the farm out room waiting for potential farmees.

Morning Chris.

I'm just an impatient old **d.

Let's hope the deal gets done the licence drops and helium one ipo

All by Friday would be great.