Member Info for steve58

Another possible outcome is that they get out of the AD plant business and become a cash shell company. We have millions in tax losses.

Attis oil helium one springs to mind.

Very strange that although the deal has completed and the first tranch of cash is in the bank the sp has barely moved.

Hoping that the next rns is a much larger deal that brings some profits into this company.

I would think that shareholder participation will be required.

That could be the tricky bit as the board have upset so many shareholders and lost them a lot of money as well.

It will be interesting what their next move is.

Imo they have had plenty of time on their hands waiting for the deal to complete and the first tranch of cash to arrive, I dont think we will get a one dyas size deal but one that requires shareholder participation and starts bringing in a lot more cash than a couple of AD plants.

Maybe even buy another business with ready made income.

Shouldn’t think that long to wait, weeks not months Imo.

They have the crown jewels and we have not even recouped our expenditure for the last 12 years or so.

I was of the asumption that in a deal like this past costs get reimbursed. We have spent countless millions long before they came on the scene meaning they had less to spend getting to a drill ready. Im sure the money we have spent on seismic etc has come in most useful to them at no cost to themselves.

The cove deal that was for about 8% of a potential 60tcf gas field for over a $1 billion makes our deal look stupid. To think that was years ago and the gas field is still not producing as far as know.

We have heen taken for fools.

They will get their $16 million back in a matter of months.

Our board couldn't see any further than the end of their noses.

The sp is still low due to the total mistrust of shareholders to the board.

Will the monies received just be squandered like they have the last four years.

Half an AD plant owned by an indolvent company and a name change.

Not much to show for five years of the current management.

They probably got fed up with waiting.

Another placing!

Certainly hope not but cannot see any other reason why the sp is now trading lower

than it was before yesterday’s announcement.

Took me 20 goes but got them.

I assume they know on telegram by now.

Must be going balistic.

Once more investors are aware of todays news should rerate quickly.

Hoping for 1p plus close.

Sorry took.

Tiok me 20 goes before i could buy.

Brilliant news sooner than we thought

Big rerate coming.

Regarding the monies owed to ARA.

We get the $3 million plus any advances made in respect of Ruvuma. They then deduct the same amount. The only deduction from the $3 million will be any non Ruvuma advances received.

We are actually receiving £200k more due the fall in the £ against the dollar in the last year and £1.3 million overal so a welcome bonus.

Already paid.

$6 million is currently more than our mc so definitely a rerate.

Could be the market will look ahead and take into account the whole $16 million.

Zgood morning Chris.

At ladt.

Now we just have to wait for the initial $3 million to be paid.

Maybe they will now get their fingers out and get some shareholder value into the company.

Hopefully sp will rise today. Was .70p a few months back so would expect a rise to a similar figure.

That would seem logical.

Just one rns required.

Hopefully straight in at 900 plus barrels a day.

Average seems to be about 2 weeks.

So hopefully expect news next week.

I think if further substantial investments are to be made they will have to come to the market.

They need to get shareholder value into the company.