Member Info for tony_month

I wouldn't be too hasty about that, some guy on another board reckons the rig owners have pulled the plug.

Wow the way that share price has dropped suggest bad news has leaked out. RNS tomorrow maybe. I wonder if the Cameroons have told Asher to do one.

JA looking for another Loser of the Year award, for the 3rd time running.

No sign of any approval or rig movement.

No drill in Q4 looking a cert.

What is Ashers Plan B , to spin this out for another year.

Surely a smart investor like yourself would have sold on the recent spike.

Is that your excuse for the pathetic performance of this share.

It must be very frustrating for expert investors when the share that they hold does nothing for years on end while other shares are sky rocketing.

When is the next drawdown.

If Asher loses the rig he should resign or be kicked out. It looks like he is a total clown making the Tower drill plans hostage to the Cameroon president and to ADDAX.

You have to wonder whether or not he is truly that incompetent or is involved in some other shady deal.

Addax are looking to use that AQUAMARINE rig for over 12 month, so if Asher misses his slot he will lose the drill and will have to negotiate a new rig contract which no doubt will cost more and cause further delay.

Addax Petroleum has contracted ADES Holding Co. to provide a jackup rig for an extensive drilling campaign offshore Cameroon.

"The Admarine 510 will likely start the 12-month firm drilling program during the fall. The contract includes two optional six-month extensions, potentially prolonging the hire by up to 24 months."

The rig is on the move,

After careful analysis I value this company at 10 billion.

Oh no the share price is falling and could end up in Lane 2

crustypete - this is the problem.

if tower don't hit their drilling slot then who knows what might happen. if asher hasn't got a plan b then anything goes. he might even sell the license on to prime, if he gets that ****ed off. after all he's been trying to get this well drilled for years.

Even more amusing will be when Asher finally announces the delay and the share price plummets.

The President is incontinent and sleeps all day. He doesn't even know which day of the week it is.

The fact that Asher warned that the schedule is tight is prepping investors for potential and probably likely delay.

No chance of any re-rate any time soon. In fact probably a fallback starting tomorrow.

Asher.

I got it right they needed cash. Luckily Prime stumped up another 200k at 15% interest, otherwise they would have needed to raise. The loan will be converted to shares in any case.

When Asher says "tight schedule" he is warning investors and setting expectations for failure.

If that approval doesn't come through in the next couple of weeks we can assume a Q4 drill is highly unlikely. I 'm not sure what arrangments have been made with the drilling company if Tower miss their slot. Will that mean the drilling contract has to be renewed.