Member Info for steve58

I think any drawdowns for Ruvuma cash calls up to completion are not repayable although I’m not sure if they get deducted from the $16 million consideration.
If this is so it makes the deal worse than it already is.

Probably no other way of getting cash as they can’t get anymore from prolific.
Borrowing against assets is not possible as they have none to borrow against.

All looked very rosy when the one dyas deal was announced.
More like a dead duck at the moment unless the board can come up with the goods.

Basically nothing to show for the millions received and spent in the last four years.
So not very optimistic it can be turned around given the limited amount of cash available to grow the business.

As for $3 million landing in December anything possible with this lot.

As for the AD plant it doesn’t even cover costs at the moment.
Noticed today the electricity generatation has fallen about 30% per Mwh in the last month.
I see another change of strategy looming.

If rules have been broken in respect of the loan and the prolific repayment then why not break a few more like change the investment strategy and the Ruvuma Sale.
Seems they have been doing what they want and not what shareholders expect from them the last four years.
Definitely time for a change.

Got a bit confused.

Income $10 million

Cash at Bank £10 million.

Why not just convert income to £’s would make things easier all round.

Just out of interest the number of days between £1 million pound income receipts.

1 and 2 million. 76 days
2 and 3 million. 42 days
3 and 4 million. 33 days
4 and 5 million. 28 days
5 and 6 million. 28 days
6 and 7 million. 28 days
7 and 8 million. 35 days
8 and 9 million 32 days
9 and 10 days. 39 days

Days will of course increase if oil price falls further but looks very good.

All looking very good.

I would assume that any loan advanced to us that is not for Ruvuma Cash calls has to be repaid.
Seems the board are not doing what they are supposed to do once again.
Most shareholders are down 95% or more since this board took over.
Horse hill sold helium shares almost all sold. Just one AD plant part owned not even covering overheads. Only a million in the bank. Looked at the recent interim accounts. Where is the AD plant income?

118 pages.
I’d rather just have one or two with our figures on in plain English.
Looks good for the future anyway.

Just a straightforward rns giving just the figures for us would be helpful.
I’m sure an interview will be forthcoming giving us details.

Seems the board will find a way to do whatever they want.
More dilution.

Although the oil price has fallen so has the £ dollar rate so not as bad as it first seems.

$120 @ 1.30 = £92 a barrel.

$85 @ 1.06 = £80 a barrel.

It’s been a very depressing month to say the least.

Your post makes it more so for large investors here.

The oil and income are flowing at the moment so let’s be grateful for that at least.

Surely as flow rates slow from wressle there are ways to increase it to optimum levels again.

Not sure if correct but is flow currently restricted due to environmental regulations at the moment.

Just look at all the other prospects we can bring into production.

I’m sure that given the current economic environment many small aim companies would be very pleased to have £10 million pounds plus of income coming into the coffers every year.

I agree all positive and factual statements.

As I have said if the oil price falls substantially that would change the cash position.

The only possible downside is if the oil price falls back sharply.

Looking at the accounts I didn’t realise that the average age of the four directors is 72.

Maybe some younger management will be required soon.

Although imo the company will be bought out eventually so may not come to that.

Not sure how you can predict the future.
You may of course be correct.
However’ we must not forget the £12 million a year income and the promise of a share buy back / dividend etc.

The company can well afford a dividend hopefully north of 3p.

That would then give a yield on your predicted sp of about 12%.

Interesting few months ahead.

Nothing has basically changed and yet £20 million has been knocked off mv.

We have a million a month coming in for a few years.

Seems every bit of news is taken negatively at the moment.

Watched DB latest interview and must admit he does waffle on a bit.

The fundamentals are still in place and money coming in, what more can shareholders ask for at the moment,

Maybe some forthcoming news.
Makes me wonder what the board will do if some or all of the resolutions ago against them.

Nothing surprises me anymore regarding this share.
The fact that the board are telling shareholders to go elsewhere if they are not happy with the boards strategy beggars belief.

They even blame the previous board for the reduction in sp from 30p to 2p when they took office.

So it must be the previous boards fault for the reduction from 2.5p to .25p in the last four years.

Just voted myself.

All for.