Member Info for TarryBreeks

Just saw that too bmp: Wolf Minerals has ceased trading on London's junior market AIM effective immediately https://goo.gl/pZFrNE

We're number 5 on the top share fallers list http://www.lse.co.uk/share-fallers.asp - well done Bhattacherjee!

In fairness not sure I can see a reason for the 8% drop based on the trades listed so far.

If TPDC has all the cards how can any date be set? IF the November deadline is missed it is likely to have very bad consequences for the share price. In that scenario Bhattacherjee will have to seriously consider his position or we will have to seriously consider it for him.

Erm, now I'll be the first to admit that I don't have much experience with nukes gaslady .... that said I'm going to go out on a limb here and suggest using a nuke on top of a gas well might not be all that good an idea. I think we should try wd40 first.

Wonder if they've found a can of wd40 to loosen that valve yet?

Well said troutisout, agree 100%.

That caught me off guard!

Great news, great RNS, great BOD, great assets/prospects - now let's have a great rise in sp to match! ;)

GLA

Well I suppose that means or stockpile won't be running out any time soon! Perhaps even paves the way for a longer term agreement between for and SML for magnetite. Great news IMO. Thanks for sharing WRB.

November 30th is a date mooted by our BOD, we have no idea where it came from so I'm not sure we can frame or infer anything the TPDC will do based on a date set by our BOD. We *may* see the licence in October. Also 20p gives a m/c of £720m - that seems high given our now 25% of Ruvuma. It will depend greatly on demand (will this dam be built), what happens at Kiliwani and if we find more than just gas IMO. FFD also looks like being mid 2020s so even if we do hit 20p by FFD it's a long time to wait - depends on your situation. My hope is that we hit oil at Ruvuma or that the 40scuffs is a significant underestimate for NT1,2 + CH1 and Kiliwani reperf (when it finally happens) is successful enough to return us to 15 scuffs.

I'm very happy to have sensible discussions Drewky - we disagree on how the company appears to be managed. That's either because it's not being managed very well or the PR is not being managed very well both of which are under the BOD's control.

On BOD salaries I don't accept your argument. Kiliwani hasn't been producing any cash for a year - and it's our only source of income until 2020. So what we did in 2017 is entirely irrelevant. If the company isn't making ANY money then you don't go around awarding salary rises: you cut back on expenses or focus on making money (Kiliwani remediation).

Cashflow issues kill companies: there are innumerable companies which had enormous potential/resources who have gone to the wall because cashflow dried up.

If the impasse with TPDC is causing all these delays then we should accept their claim move on and get drilling. The endless waiting and delays are eroding confidence, patience and more importantly our cash and the share price.

As soon as the board start sticking to their own timescales, considering their remuneration in context with the share price, demonstrating some integrity and providing tangible results they will regain respect and patience.

Unfortunately right now both are in short supply and the BOD have very much exhausted the benefit of doubt. I am sure I'm not alone in thinking that.

I suspect if we had done anything more than attempt to free up the valve the BOD would be shouting it from the rooftops as no other positive news seems to be forthcoming. Bhattercherjee was straight on to Proactive to trumpet the valve replacement and we've had a non-material RNS since that interview and now.

I want to believe actual remediation has started Drewky but honestly I don't think it has.

Your interpretation of remediation having started a few weeks ago was the valve being replaced - now I think technically that is a fair interpretation and one I believe is being inferred in the last RNS. That said we need approval to start remediation proper: re-entering the well - foam rods, draining fluids, perf gun. I can't believe that the BOD would miss an opportunity to shout about that if it had actually started.

It's the getting going bit and the timescales of that which are troubling gaslady. Our simple valve replacement predicted to take a few days seems to have taken well over a month now and cashflow from Kiliwani has been on hold for nearly a year. Kiliwani remediation has not resumed (we would have had an RNS) and it may be that Bounty have been informed of further delays or cash calls and have decided on balance it's not worth the 6%. I hope this default will work in our favour but I'm increasingly cautious about how this whole process is being managed.

Ask TPDC if Aminex has defaulted on any payments Drewky. This is only a positive if we start production from Kiliwani and as we all know that hasn't been forthcoming. I'll be happier once cashflow has resumed.

And why Bounty are so financially distressed!? 6% of $250k is $15k if remediation and recovery will be as simple as suggested and limited to those figures it would seem crazy for Bounty to default at this time. I suspect there is more to it.

Also, interesting analogy on Tullow. Given how much shareholders have spent on Ruvuma and the loss of the Lindi licence area and the subsequent below expectation farmout of Nyuni: $5m + up to $35m carry with no back costs. You could suggest, at this point with no formal agreement/signoff on the farmout, no license, stalemate with TPDC over payments and no income from Kiliwani that Tullow got off lightly. That will change if/when these items are resolved but right now it's not a pretty picture.

How much in additional future cost commitment will Aminex now have to fund that it didn't have to before? 6% so not really free. Of course we don't know the details here, perhaps Bounty have decided, based on information they have received, that it's better to just walk away than be beholden for 6% of costs after nearly a year without any cash from KN1.

It's not "free gas" Drewky. It comes with a commitment to drill and perform seismic on Nyuni and we need to cover an additional 6% of that commitment. I suspect this may be a move to simplify licence areas before a possible merger of Kiliwani and Nyuni which I am uncomfortable about. Until such time as we actually start production again at Kiliwani this development has no impact on cashflow.

Let's hope TPDC don't take the same approach on payment defaults as we've just done with Bounty.