Member Info for Urraca

It is a good RNS. Must have some impact, surely? Or maybe the market is waiting until our production does hit 8,000boepd, with associated cash rolling in, before rating us accordingly. Still a great value stock among AIM O&G, one of the few

Interesting as this discussion is, isn't it best held on Twitter? BTW JMO, I would include with your characterisation of fascism a virulent anti-semitism. It's easier to see where the epithet applies most appropriately that way.

I agree with most of what aliaspc says, but in all fairness I must point out that when Rolf said 'can you guess what it is yet?' as often as not he was referring to a shafting.

ALGW don't need to prove the concept of their offer, as it's a product that is being marketed already in the USA. But it's a novel product elsewhere, in the markets they are hoping to open up, so they do need to get some contracts signed to demonstrate that these are marketable securities in the rest of the world. So get on with it chaps.

I am largely with Drewky and Matherpj etc on this. The terms of the deal have been set out, and remain only to be signed off. The farmout is needed to move things forward now.

On the cash component, some recognition of, and comensation for back costs would have been welcome, and are not uncommon in farm outs. I think we should urge the board to press Zubs more on this point. Even if they only make a token gesture of money, every penny is welcome.

On the wage bill, I agree that the head count should now be cut. Preferably without large payouts to recent recruits. I also think we should press the Board to defer part of the salaries, or take part in share options, until such time as AEX is showing a profit. It is important at this point to husband our resources very carefully, and devote them to developing our assets with a view to monetising as quickly as possible.

I am happy to provide contact details and a record of my pretty modest holding if someone is organising this.

But, I will say I think the market reaction to the deal is incorrect. I think it is driven by rainbow chasers, however long they have been holding, being dowsed with the cold water of hard commercial reality. And selling, at a very low price, as a result. When they have cleared, I expect the sp to to rerate to reflect the commercial reality, maybe up towards 3p, with further rises as the steps others have recorded occur.

ATB

Lets hope we follow for once

I expect the Zubs have to spread the jam among the great and the good in Tanz. Everyone will want their cut. At least we are now moving forward again, after what feels like a long time at standstill, and on a route to a very decent annual income. Which will allow us to make progress on all our other strings.

Good move selling out yesterday. I would have, had I been watching the market, and seen the news when it dropped. Sadly I have another project on the go. But I was wondering, are you tempted to buy back in now, at this price? Many are, it seems.

They must be alarmed by the market reaction.

Got a short on fellrunner? I think this early drop is overdone. So I've bought more.

Sadly I think Crusty dumping his colossal holding is what caused the sharp sp reversal yesterday

Having lived through the horror of Xcite Energy I will say that a farm out is better than no farm out, and accepting what is offered, even if it does not match feverish expectations, beats holding out and blowing the lot. Aminex have secured a route through to being a steady producer, with the cash rolling in. That will open new doors, and Aminex is progressing through O&G company life stages. I think the sp should settle just above 3p until the next stage - but we will see what the market thinks.

I am annoyed though that they dropped this mid-morning, and not at 7am.

Aminex did not have a great hand to play going in to this farm out deal. Sure, there's a lot of resource in the ground, but it costs a lot to get it out and monetised. Let's face it, the Zubs and others could have let Aminex simply fail, or try to dilute to oblivion, then picked them up for a song. This deal gves Aminex a clear future cashflow which they can use to appraise the rest of their portfolio (the holy grail), or even as security for conventional debt to speed that up. Not to mention the possibility of oil. Simply valuing the company on the basis of this farmout deal is flawed. The big salaries do grate though.

So 10,000 million btus attributable to Aminex per day, at $3 per million btus is $30,000 per day, $210,000 per week, and $11m a year. With more to come from further drilling, seismic etc.

1675boepd, or 10mmscf a day is Aminex's share. That is a pretty decent amount. Anyone know what gas sells for in Tanz?

When I went to work this was edging down as usual. When I got back I saw I'd missed a great spike and it had fallen back to a pathetic price. Was there a continuous wave of selling deflating the rise? And why does poxy work get in the way of making a profit?

Good luck Webmoor, on all fronts

Ukog holders risk getting scalped. I don't have that fear here.

When the fraud case gets thrown out of court, and Mysquar get awarded huge damages.

Ok, maybe a bit unrealistic, but so was Gadzuric's post.

Even the Dalai Lama's losing patience here FFS.

Sorry, just had to vent.