Member Info for steward1

The fall was way overdone and I'd be expecting a decent recovery over the next few weeks, even without any more news.

There's a lot to like about FOOT - the model is good... well-balanced across online and high street (with not too many high street locations)… major potential to multiply online and wholesale. And it's the stuff that kids and adults will happily pay decent prices for.

We should all remember that, whilst the high street is under some pressure, FOOT have still delivered a 12% increase in sales through their stores!!

I think they're well placed to deliver sustainable and increasing returns starting with a dividend in 2020. AIMHO.

Hey Ross - I'm genuinely interested in what criteria would determine a turning point for you and a case for investing.

Whatever that criteria is, my concern for you is that by the time that criteria has been met, you'll have missed out on the sp rise.

Come on, Ross. Get on board. You know you want to.

LK has around $3m dollars to spend on getting that oil out of the ground. You've got to admit that you didn't expect him to be in such a healthy position at this stage, did you?

Or is there another deal in the offing?

Ross,

not that long ago, you were expecting LK to have needed to call on the LIND facility in Q3. You had suggested that cash burn was so bad that cash would be running out. Quote from last week's update -

"cash balance of US$1.97 million at 30 September 2018"

Probably the biggest mistake that you continue to make on here is to underestimate how much oil is being pumped!

Overall this is a good move but slightly disappointed that we weren't given the opportunity to take part.

It sounds like LK expects oil price to head higher, as well as for production to head higher. I think, though, that he was being cautious about the timescale for drilling SWP and about bopd by the end of the year (has he learnt his lesson?) - after seeing the presentation on Wednesday, I reckoned that the 1000 bopd would be achievable. So many opportunities to hit that target and, dare I say, to exceed it.

Personally, I think that we can take huge confidence from the fact that we've got some proactive and supportive II's! Very tempted to add to my holding!

It reads to me as if one of the big boys has gone to LK and said "Forget about LIND".

The big boys, after seeing last week's update, want to accelerate progress. This is showing great confidence in the team, the roadmap and the potential bopd.

I'd assume that the LIND facility won't be used at all now and that the 1000 bopd target is increased this year.

Perhaps an odd fact but FOOT is the top trending retailer on Topcashback this weekend - up 475%.

Seems to be a special offer of 10% cashback - looks like a good move... multiplying business through Topcashback by almost five.

Just watched the presentation. Can't fail to be impressed by what LK and his team are doing. Proving that they've got a great handle on everything, good decision making and allocating resources for the best bang for buck.

Get the impression that any issues or concerns that folks have currently will pale into insignificance very soon in the wake of some big news.

2019 is looking pretty good!

Just to add to the negative sentiment <br /><br />https://www.bbc.com/news/world-africa-45822166<br /><br />For what it's worth, despite the meetings that have supposedly happened this week, I'm really not surprised that there is no news on RHA or Zulu... classic GR... no progress!

Offerman - just read your update on your encounter with LK on ADVFN. Superb! Excellent and sound testimony of the CERP team!!

I'm expecting to get some messages that will give us some confidence that they're back on track.

The fall in sp has been way over done and I expect the sp to pop as long as there is no more bad news.

Garnheim - I might be wrong but I think that Ross had stated that LK would have already drawn down on the LIND facility by now because of that cash burn... and he's been nowhere near it!

Ross's problem is that he is way too short sighted. He needs to look to next year and what LK is doing between now and then... not just in all the activity across all those existing wells but, also, he's on the hunt for more!!

I'm expecting to hear some good things out of tonight's update. Unfortunately, I can't be there but I'll be tuning in to the resultant media.

Pretty sure that LK will say two things about Goudron -

1) Best bang for buck - with the Steeldrum deal, he made it very clear that they would allocate resources to where the return would be highest. I think he's proved that he's done this and I'm pretty comfortable with that approach.

2) WF will deliver - seems to be very bullish that the WF will deliver a good return.

Oh and for Ross's benefit... just in case he didn't read this -

"cash balance of US$1.97 million at 30 September 2018"

Plenty of ammunition to deliver more gains!

Average bopb up by 198 and still cashflow +.

Huge amount of activity. Steeldrum deal already proving well worth while.

LK and team are doing a stonking job!!

Yes but not for the reason that Ross had been banging on about.

This is a real positive... the LIND facility is NOT going to be used to cover for cashburn. LK is generating more than enough money to deliver his plan- what might that say about how many bopd is being pumped!!!

Ross - a simple acknowledgement that you were wrong will suffice!

AIMHO!!!!

Putting aside our little spat the other day, Strongman, the difficulty that we're all dealing with is the partial information that we have about RHA. I suspect that any potential JV partner will be in the same boat.

With what we've been told so far, my own view is that it doesn't look like a compelling case to re-start RHA. That could have something to do with the disrupted webinar and GR not being given the opportunity to explain. The 15 month window hasn't helped and the potential cashflow isn't convincing within that time period.

It would help if GR could explain how conservative they have been with their projections. This time last year, I don't think that we were expecting $1million plus capital costs and looking forward, if history is anything to go by, that figure could well rise.

Quite apart from that there would be the big questions of how much GR will give away to the jv partner and where he will be personally paid from. If RHA is the only source of income, it doesn't look as if GR's salary is included in the RHA figures.

The Open Pit seems to be well up in the air too from the comments in the RNS.

This could all be down to GR's poor communication but, if experience is anything to go by, things tend to be worse than he is usually willing to say (he would much rather highlight the possibility of copper!). If, as you have suggested, he is meeting the potential JV partner on Monday, I wonder if that was requested by the jv partner after seeing the webinar. Perhaps, they are looking for more clarity and certainty just like the rest of us!!

Personally, I think that it will be a couple of months before we see any clarity. He needs to complete the drilling (end of this month/start of next) do the sums/get the full report done and I think the real negotiations for a JV will start then. If the ownership is resolved next week, that would be all well and good but, because of the uncertainty highlighted above, I can't see the sp moving much if that does happen.

AIMHO!!!

Touche, Dr Jeckyll!!

And you've responded every time, Strongman! I wonder why.

I'm not finished with PREM yet - as soon as GR goes (whenever and however that might happen), I expect to be back in... assuming that there is something left to get back in to!

Very good, Strongman. It does take all types! You'll have been round long enough to know that we've had them all here and to have seen the misinformation that has been spread. I've lost count of the number of people who seemingly have known what was going on behind the scenes only for it all to materialise to zilch!

I'm highly suspicious that some people in the past have been fed a line by company insiders knowing that it would be repeated. The real problem now is that no-one trusts anything that comes out of the company. Even more so if it is folks like yourself apparently giving us the inside track on what's happening next week!

I do hope that you're teaching your grandkids about positive virtues and being able to spot those who aren't all that they say they are... that's what I'm doing with mine!