Member Info for steve58

Looks like the board have gone into hibernation for the winter.

Unless they are working on the mother of all deals.

Seems the company has had a dry season which lasts twelve months

Agreed. I thouht that it would have been sorted by now. Bad news is the last thing shareholders want to hear.

The fundamental problem has been that the board haven't a clue how to run a company let alone make an investment that is profitable for shareholders. All of the problems the last few years have always been somebody else's fault never theirs. If they can turn this around all well and good but they seem to lack any direction with anything they have done. Are they going to chamge now. This is definetely the last chance they will have.

Looks like the contractor doing the seismic at Kiliwani has stopped.

See RNS issued at 5.00 pm by Aminex.

Not sure what implications if any this has for us.

They seemed to hint that the next deal could be a big one so lets wait and see.

You can’t go fishing without bait.

Maybe they are bottom fishing.

Unless they can come up with some very good money earner I don’t really see much of a long term future here.

The AD plant business is a waste of space imo.

Decreasing margins, increasing costs.

The company we lent £1.2 million to is insolvent so repayment is very unlikely.

Given the so called experience of the board the last four years have been nothing short of a joke.

It can and should be turned around with more cash arriving soon.

However, I have my doubts given their track record so far"

I think the problem is that they did, however, they could not wait on us to get our Ruvuma monies so any deals have either not happened or the business has been done with another party.

Should be interesting what the board can come up with next to bring fast income into the company.

If they can at all.

We should be gratefull to the board.

Where else could you be guaranteed to lose 95% of your money.

Just looking forward to their next deal.

Could be UJO increasing their holding.

News should be announced as soon as known.

So could be at any time during trading hours.

Every $ increase in oil is about £80k additional profit a year.

Should pay for the tea and biscuits at the AGM if not something stronger.

Who would sell when news so close.

Even 250 barrels a day is £6m income a year.

When 900 + a day is mentioned it starts getting very profitable indeed.

Should double from here on good news.

Performance related bonuses.

I think they should all be repaid to the company.

The 90% plus reduction in the share price is certainly some performance

The current market value values the AD plant business at nil.

The only way to get the sp moving in the right direction is to do a much larger deal that generates a lot of income and profits quickly.

We spent a million on legal and professional fees last year alone.

For a virtually dormant company that takes some doing.

They have sold the last of the legacy assets and have cash coming in.

This is now their last chance to rectify the situation.

If a further change of strategy is required so be it.

I think that is the problem.

Shareholders do not trust the directors to spend it in a proper fashion.

They will probably lend it out to some related company who has not got the means to repay it to us.

We have £7 million plus in tax losses available against future profits.

Hope this explains that no tax will be payable until these losses have been used up.

£7 million in tax losses in the last accounts.

Should be higher this year.

The board screwed up the one dyas deal and they have certainly done the same.

All those years with probably $20 million spent since 2012 and then when near to production they sell out for peanuts.

Total incompetence imo.

But all done now and so we look forward to next installment in this long running saga.

Good morning Chris.

Awaiting the next decision by the board.

Imo the AD plant business is a waste of time and money and with electricity generation prices falling not very profitable.

Interesting weeks ahead.