Member Info for steve58

The drilling is onshore.

A breakdown of where the money has been spent would be interesting.

Because the millions we had received from other asset sales was wasted on fees aborted deals and loans to companies that were supposed to have been subject to due diligence.

This money was supposed to fund Ruvuma through to initial production.

As the money had been spent they just got out taking the worst possible deal they could get.

Probably got an things mixed up but did state that they would re enter and repair tubular leak at NT1 to enable well to become a gas producer.

Thought that kiliwani north was renamed NT1.

I see TR is back not even an apology bit praise for him but and his board.

The aminex rns did mention kiliwani being brought back into production.

I assume we still have our 8% stake.

Didn't cove sell 8% of a 60tcf field for over a billion pounds. Makes our $16 million if ever we get it look pathetic.

Good morning Chris

Hard to believe.

Saw this mornings RNS and was completely confused by it all.

Hadn’t realised an RNS had been published at 5pm last night.

Will this company ever have any good news.

Getting more like the adv fiasco every day.

As with all drilling their is risk.

However to spend 500k for the potential to make this co a £100 million plus one is a no brainer.

Union Jack may think they are takeover material.

Don't remember the dark side of the moon.

As I said.

Once the shares are suspended that will be it as far as buying and selling them.

Delisting will follow and you will get your distributions according to the number of shares held.

Once the final distribution is made in however many years the shares will cease to exist.

Should be a cut off date.

The shares will probably get suspended so anyone holding will be locked in.

The only ramping up we need here is the daily flow rate.

The fundamental problem will be the receipt of the total $16 million.

Just how many years will it be before all received.

Not sure if the company will still have listing fees and directors fees and other expenses until all received. Liquidator fees will probably be based on the total assets so a few hundred thousand pounds at least.

I'm sure any remaining directors will get pay offs.

There certainly won't be $16 million being returned to shareholders.

Its not so much the quantity but the grades.

Wasn't 60g plus per ton of ore mentioned in the last rns.

So pleased you corrected that figure.

Very interesting interview.

Shouldn't say it but looks as if he has put on a few pounds. Too many business meetings with an all you can eat buffet.

Agreed.

Actually borders on the verge of incompetence without saying it.

At $80 a barrel converted at 1.25 that is £64 per barrel income by before any costs.

Say 350 days a year production.

250 barrels a day x 350 x £64 = £5.6 million income.

1000 barrels a day about £22 million income.

At that sort of level we could be looking at a £100 million plus mc. So could rerate to north of 1p s share.

Anything possible here but all depends on flow rate and production rate.