Member Info for TheBuffoon

“Bang it out of the park”

That brought back unhappy memories of James Parsons….

If you look at the value from the perspective of a buyer, which AK does, you’ll look at the metric EV/EBITDA. With the Institutions clearly supportive, they can fight off any cheap bids. I imagine some would support bids well in excess of fair value.

AK himself said he could do this all over again if somebody wanted to make a silly offer.

Without being too precise, a silly offer will make AK a very wealthy boy. I’m sure a number of us will do quite well in that event.

Buffy

“ Some people don’t get it even if it’s written on their foreheads and they’re looking at a mirror.”

That’s because not everyone can read letters when they are backwards.

Buffy

Excellent post Monkey_Junkey.

Buffy

Yes Agadem, he definitely said it. I had a clear link. Two to two and a half months. Obviously that’s his estimate.

Buffy

Just an Idle thought Climbing Wooster..

Buffy

AK said 2-3 months from now.

Buffy

Is there something wrong with you son? I just asked nicely how you knew it was Trinidad, and you respond like an ignorant lout.

I pity you.

Buffy

Druid, that was a genuine question, why answer it cryptically?

Either you have a reason, in which case why not tell us, or you made it up.

Which is it?

Buffy

Out of interest Druid, how do you know it’s not Trinidad?

Buffy

Hopefully the share price on reopening will better reflect the underlying value of the assets that the business has. It certainly hasn’t up to now. Maybe this deal will be the catalyst.

Any predictions on the relist price to be anywhere near accurate will need that gap to close.

Buffy

Anyone else got audio only?

Buffy

Hi noix,

I agree, the hypocrisy of the ‘developed’ nations is stunning. After benefitting from Africa’s natural resources, hydrocarbons and minerals for decades, we have the front to turn round and tell them they shouldn’t.

Ironically, one of the biggest mistakes was when we declined the opportunity to explore for hydrocarbons before the Americans found oil in Saudia Arabia in the late thirties. The Saudis were largely nomadic before the find. Look at them now. The critical factor in how the general population of the West African countries benefit from any future development is whether there are any more crooks aka ‘leaders’.

The one question I have is what size of oil company would buy us in three to five years? Will the zeitgeist have changed and the majors become interested again?

Not that it matters to me, as my strategy won’t rely on a buyout.

Buffy

If we get the assets we’d better make sure we don’t underpay the Chad royalties!

On a serious note, I imagine we would have far more focus than a supermajor when it comes to maintaining the assets and increasing production.

I think we are all increasingly paid up members of the ‘Africa must be allowed to benefit from hydrocarbon production in the way that the richer nations have for decades club’

Buffy

It is indeed a puff piece, although that’s not to say there is anything incorrect in there. The problem for some is the developing realisation that the timescale to first gas is getting longer, as is the timeline for a serious multibagging in the SP.

I always think it’s better to be brutally honest at the start and then you can over deliver. It might not be TXPs fault for the delays, but they could have been clearer on timescales. I appreciate some of the delay is down to Covid, but PB knows that he could have been more honest on the time taken for drilling and testing, not to mention the time it would take to construct the pipeline.

Buffy

Ah Monkey_Junkey, I see you are still bearing the scars of our exchange.

My lack of technical understanding? What on earth are you going on about?

My comment amount the almost God like status that our fellow poster has ascribed to him just irritated me. Gushing comments based on very little betray an immature mind, and a poor investor.

If you are referring to something specific, or you want to elaborate on XM’s brilliance, do tell. I’ll hang on every word; what with you being such an expert.

Buffy

He was Touchstone’s brilliant head geologist when they drilled Chinook wasn’t he....

Buffy

I have not sold a single share in SAVP/SAVE, and have added spreadbets. I am confident of making a serious sum from Savannah, as I am of my holding in TXP, but on checking the dates of the five Niger drills, I saw that we didn’t test any of them, and for some reason had not noted this. I wasn’t in the slightest concerned about this, but asked the question I did hoping to elicit a reason.

I was at one time in the position of holding an over leveraged position with a profit equal to what I expect to make from holding SAVE & TXP combined. I’m a better investor these days, and don’t overreact when someone asks a sensible question about one of my investments, as I used to.

Buffy

The problem with investors who have fallen in love with a company, is that when an investor asks a genuine question, trying to assess exactly where we are with an asset, he is accused of being negative. IR are a waste of time. I could ask Andrew of course, as I have his email, but I wanted the genuine opinion of any of our posters better qualified to answer, and without any spin.

I asked a fair and reasonable question, and I do have an opinion, but why clog up the board with that? An expert would be much more eloquent and informative.

Don’t fall in love with companies Agadem, you’ll only lose perspective, as you seem to have on occasion. I recall you having a full on rant some years back. That happens when you are too emotionally attached.

Buffy

We announced five discoveries, but as far as I can recall, we didn’t test any of them. Is that right?

Knowing the geology, can any of our resident experts (i.e. those working in the relevant part of the industry) tell me what confidence level one can have when we haven’t flow tested any of the wells.

Buffy