Member Info for Thales1

Another 1/2 mil at 1.5p. Looks like someone is building a position

1mil at 1.5. I very rarely time things right o sp will probably plummet again tomorrow

I bought 84834 shares this morning at 1.28p per share, so I am baffled to see it reported as a sell at 1.275

Or maybe update next week -as it was meant to be in April. Fingers crossed for a 10k bopd flow rate, with a note saying J59 looks similar. Used most of this years ISA allowance to buy Jupiter, so I'm hoping for a transformational step change in production, which will throw off enough cash to fully fund upgrading the pumps so they can sell export, without any loans or equity dilution, then a gobsmacking CPR so everyone can see thy are a mini GKP (but without he probs, lol), followed quickly by a t/o offer around £3 per share. Not too much to ask for us it? Plus, somebody's got to keep posting here - its like a ghost town T1

This is moving up on volume, here and in Oz. news on J58 tomorrow maybe.

This was flowing around 1300 bopd from 5.5m unstimulated. The co-mingled tet which is going to be reported this month, and feed into CPR for next month will be from a combined pay zone of at least 60m - more than 10 times as much. Not an engineer, so I don't know even if there is a straightforward correlation between length of pay zone and flow, as opposed to volume of reserves, where more pay zone equals more reserves. But flowing from more than 10 times the amount of pay zone must mean a big uplift in flow rates. If anyone more knowledgeable could comment I'd be really grateful. A rate of 10k bopd would be amazing. And J 59 is the same area, with bigger net pay reported, o that could double. If so, these two drills would be transformational for the company, and that level of potential production should unlock the funding for the development of the drills to have proper production facilities. On the other hand, the drift down in share price, while maybe only reflecting general market conditions doesn't suggest they are on the brink of announcing a step change in production potential.

Afferro can't afford the infrastructure to bring Nkout to market. It might take a decade or two for tht to be in place for NAV to be realised. At this point in time, this looks like a good deal to me.

Was due to be completed by end of March. Hoping rise means positive news is about to be released

I agree with LTG's analysis. It is worth noting though that even if the Sundance Hanlong deal does fall through (like LTG I don't think it will) Afferro have Nkout which is much closer to the port than sundance's deposit, and a link with IMIC who are all about delivering Chinese infrastructure partners. Together with Posco, I think they will press ahead with infrastructure anyway - although only to Nkout, which probably is not quite the outcome the government would want to see. We will know by a week weds at the latest if Hanlong are still in. As thy paid $5m just a couple of weeks ago o stay in I'd be surprised if they drop out now. I will be most interested to see if the chinese conglomerate backing Hanlong is CRM (China Railways Materials company), IMIC's strategic partner.

Worth checking this : http://www.asx.com.au/asxpdf/20130208/pdf/42cxbn6kq9mr67.pdf For info on Sundance t/o. Hanlong have to provide credit approved term sheets by 26 March, and can only do that if it has got a big backer to backstop the project. Not sure if these will disclose who the backer is at this point, but this is the next clear signpost that the sdl t/o is still on. I am a little surprised at the aff price action, but will look for market signals probably w/c 25 march, although possibly from weds 20th. I am already in but may increase my position in advance of 26, so probably week after next rather than next week. Gla

I do want to stress though that my thesis only holds if CRM are the Hanlong partners on the sdl deal. If they aren't, but the deal goes ahead, then the infrastructure is till on, but I'd be far less sure about an imminent takeover of aff

Hi Check this from sdl announcements: http://www.asx.com.au/asxpdf/20130228/pdf/42dc4nfw5ns0r1.pdf You will see that Nkout is included on the maps showing the proposed railway. I think that if CRM are Hanlong's big Chinese partner, then they will use IMIC to acquire aff (despite the Koreans) to improve the overall project economics for themselves. Therefore IF CRM are announced as the partner to Hanlong, and involved in acquiring SDL, there will be a short time to speculatively acquire aff shares before the wider market twig that CRM stand behind IMIC, which has already expressed an intent to acquire aff. Does that make sense?

Check the Hanlong/Sundance deal. It is delayed because the hinese govt have demanded that Hanlong get back stopped by a very big Chinese company that could fund the whole infrastructure project. CRM are one of he very few Chinese companies which fit the bill - and are also essentially part of the govt machinery there (so the governing party will get their cut). If Hanlong get backed by CRM and the Sundance deal is go, I expect aff shares to appreciate sharply, and to provide a great opportunity for getting in quick before the implications have been fully appreciated. That's what I aim to do anyway, if that's how it pans out - and I think it will

Due before the end of this month - hoping it will be good. Should be.

I think Sundance is key. Their takeover by Hanlong is dragging on because the Chinese authorities want them to partner up: http://www.asx.com.au/asxpdf/20130208/pdf/42cxbn6kq9mr67.pdf So they need Chinese partners who can deliver large scale infrastructure. Sounds familiar to the people IMIC want/have as partners. Including Afferro as a side deal would improve the overall economics of the Hanlong/Sundance deal, and secure colossal iron deposits for China. But I don't think anything will happen for Afferro until the SDL deal is announced (or not - can't rule that out completely).

Been watching for ages. Tried to buy some last summer, but couldn't get any on a quote and deal basis. The oil barrel presentation persuaded me that the time is right to get in. Funding needs sorting, but I'm okay with a bit of dilution. Upgrade in reserves should balance that off. And I do like an oil co that's producing and generating cashflow. Much better than the speculative pure exploration plays. GLA