Member Info for thetank

"I'm locked and loaded over at MYSQ with a very low average share price, thanks very much and look forward to multi bagging over there." 1st July - JAN Board.

That didn't age well old chap... 1.2p to .30p in 3 months...

Agreed - number 1 red flag for me. If the board won’t put their money in, I wont either.

Not intentionally misleading - genuinely how I see it - AEX have really messed this up. Really not happy with that fact....

In fairness I called the rise to over 3p madness on the farm-out news. Do I think this will go lower now? Yes. We will see...

I am all about the 'bigger picture' Sambo - I know that AEX's share of first production (if / when it comes) - 10 MMcf/d really is not that great. They need to get to multiples of this figure if they ever want to allow shareholders who got spiked after N2 results to get their money back ....

$$$ not £££

I see your point and that is a very half full way to look at it. For me though, the bigger point is that 50% of the Ruvuma asset was given away for $40m (once all commitments done etc). So hard for me to value the whole asset at anything but $80, and AEX's stake at $20m. If our 25% is worth more then why could we only manage to get $40m for 50% of the Ruvuma licence?

The valuation of the whole asset is very clear by the price agreed between the AEX board and Zubs.

$ not £ - a significant difference....

You are classifying the money AEX have got (eventually $40m) as the price our 25% - where as I see this figure as the valuation for the 50% we gave away - as this is what AEX got for it. Thus the remaining stake must be half of this....

"Aminex gave up 2/3rds of their share of Ruvuma which they had 75% off and solo had other 25%. Now Zubs have 50% Aminex 25% whilst solo still have 25%.

In effect we gave away that 2/3 for 40m so that put a valuation of Aminex Ruvuma asset at 60m"

So.... the remaining 1/3 of AEX's original stake in Ruvuma = $20m - based on their own valuation with the price they discarded 2/3 at. Their 25% of the (total) project is now valued at $20m. (Based on what Zubs paid)

I'm not in anymore, but obviously following and sharing my views. I was invested for many years and have the right to express my views if I wish. Are my maths wrong? If 50% of Ruvuma is only eventually $40m, surely AEX's share is $20m. That is the valuation that we accepted when we agreed the offer with Zubs.

And besides, there may become a point where I might think it represents good value again.... I just think that time is way off yet IMO...

50% of Ruvuma effectively given away for $40m. So, not rocket science to value AEX's remaining stake at about $20m.

Now even though the price has fallen now below 2p (as many predicted it would after that horrendous deal) it is still valued much higher than $20m - does the gap get filled by Nyuni and Kiliwani?? Not even close. Thus the price will keep falling....

All eyes on the RNS button at 7am. One of these days.

He is down more than 50% since he last bought shares in token effort to show strength, let's see what happens to this buy... Too little too late, we needed him to be aggressive in negotiations not aggressive looking after his own interest after the bottom has fallen out of the share price.

And before people say how great a sign this it, worth noting that this amount is only about 2% of his annual salary.

Very doubtful, especially as the deal won't be approved until November... Q1 2019 I would say. We can't even source a generator, not sure how we will go about getting a rig / crew (I guess, thankfully, that won't be AEX's problem to mess up moving forwards).

He needs to step up and do an investor call justifying the deal. Will he? Not a chance. Not even a TV interview....

Malcy gets paid to support and cheerlead companies. It’s that simple.

A current valuation of £76m. Problem of course being that we valued 50% of Ruvuma at effectively only $40m (£30.4m). Thus, logically, most will use our own valuation to suggest our remaining 25% is worth much less than this... so, quite hard to justify a valuation of £76m.... After the value we gave (through that deal) to Ruvuma, can we even justify a valuation of £50m or £40m? Kiliwani adds very little value at the moment! It doesn’t take a genius to realise that this will go much lower. With this deal the phrase ‘Hoist with his own petard’ has never been truer!

Simple - we sold 2/3rds for $40m - what value does that leave us with for our 1/3?

Pretty shocking when you do the maths and look at our market cap, this is going sub 2p today I fear. A mess! Amazed how this spiked so high on such poor news.

Worst deal ever!!!

Horrendous, we closed at 2.55p, think it will drop under 2p in the coming weeks. If we value 2/3 of our asset at $40m, how can we expect the market to value us higher than 1/3 of this + expenses (thus SUB 2p)

We sell 2/3s for $40m, and our remaining 25% has a free carry (for $35m). So, if we value the company so ridiculously low, why shouldn't the market. On the basis of this crap today, we are worth $20m + $35m carry and $5m more - so about £45m sterling - or a market cap of under 1.5p.

Harsh, but true and frigging gutting. Worst deal ever.

Opportunity gone, agreed, this will never pay the dividends and reach anywhere like the levels long term holders hoped for. Even if we get to 40mln cubic feet per day - our share will just be 10mln cubic feet now - nice-ish for a small company, but no dividend off that and certainly not that attractive to new investors looking in.

Zubair have just got the deal of the century - 100s of BCF for $40m - ludicrous! When reality kicks in, investors will see this for the shocking deal that it is! I hope investors are brave enough / smart enough to voice some hard questions to Jay this afternoon.

Alright - I'll say it then as most people on here are kidding themselves. This is a HORRIBLE deal.

How many years of dilution, poor communication and frustration have LTHs had - and for what, the current board to offload 50% of all our efforts for what will become $40m. Half a world class asset for $40m???

This is a shocking deal, unless you are Zubair of course. Either Jay is inept or complicit in some way. He deserves a roasting at the AGM. Anyone congratulating him or this deal, clear has no concept of economics!!

No idea how the share price got to 3.6p on the back of this news!!

And the sad truth, nothing PIs can do, as we have been so diluted we no longer have a voice / say!

NO RAISE BELOW 5p - are your ears faulty? BM has put his reputation on the line today with his pledge... You think you will be able to buy in volume post financing? I really over estimated your knowledge / intelligence.... You have this SSOOOO wrong.... Awkward....