Member Info for Zahrab4b

Massive accumulation underway.

Beardeddragon

This is a unique situation having dropped so far and so fast, way beyond what makes sense. As such, back to 3p (still 50% below placing) this week entirely possible

Makes absolutely zero sense to sell sub 3-4p

2.8p and then await clarity from management.

No reason why we cant get back to placing at 6.5p

Yes, but the initial 50% hit was from a very low level. At 6.5p, there was barely any value assigned to Anchois. To be hit again with 50% is crazy. I do expect 2-3p + by Friday.

There is also value in Etana

Certainly 2 big gaps to close. 2.8 being the first

Happy

You are completely wrong. Go back and listen to the ENOG Ceo Comments

Also, CHAR carried by ENOG until FID with gross $85m, with circa $50m remaining.

Total all over Morocco also!

We should have been 3-4p on the A3 news. AP wasnt gambling when he invested $700k at 6.5p

Really not sure why anyone would sell below 3p.

Really stupid.

Market cap is less than cash!!

And FTSE 250 will cover all costs (gross$85m) until FID

Bold

Market totally overlooked that ENOG will carry all Lixus costs until FID. There is circa $50m remaining in the pot which is sufficient to execute as you suggest

I think Flowtest was not done at A3 as it would have been sub optimal to produce from that location. They may well decide to flowtest at A2.

80% down (from August placing price), despite ENOG CEO stating an intention to pursue the development (comments below) via negotiations with the Moroccan government ('negotiations WE WILL HAVE TO HAVE with the Moroccan government')

Has the market forgotten about the previous A2 discovery? Couple the A2 discovery with the ENOG comments below, and the market cap makes no sense.

Transcript of Enog CEO audio link:

"At the end of the day, the commerciality or lack thereof of a development depends on the gas price that is available for the development. So, there is gas there, as we are saying in the RNS, not as much as we had hoped or expected, but the commerciality or lack thereof will depend very much on the type of development and the negotiations we will have to have with the Moroccan government about gas prices. So, I think it's early days. I will not comment any further. I think it's only appropriate to wait for the operation to finish. Then, of course, we will update the market as we should."

Selling A2 to ENOG is the most likely plan going forward.

The fire sale price of £40-50m [+400bcf] is still three times our current market cap. This unthinkable value prior to A3 is now a reality.

This makes a mockery of the share price at 1.3p! It should be trading at 3-4p. The market manipulated a double duster impact when in reality it was just one.

Enog will hopefully update the market this week. Any indication of a positive plan going forward (e.g., as per recent comments, "we are keen to develop the resource and will be engaging with the Moroccan government re gas price") will shift the share from the doldrums of 1.3p.

Is AP currently restricted from buying shares in the open market?

Enog CEO stated he would update the market following completion.

Thanks, Jimmy. Fingers crossed. ENOG CEO certainly suggested potential remains.

450 bcf does not chime with a $16 million market cap.

Unless i missed it, FEED outcome was never contingent on A3. So this goes back to what ENOG CEO SAID 'there is gas, its now up to the Moroccan Gov"

AP:

"The conclusion of the FEED stage, largely performed by the Subsea Integration Alliance ('SIA'), is an important step in defining the initial development plan to deliver gas to our anchor customers. In conjunction with the Field Development Plan and Environmental and Social Impact Assessment work completed to date, we have further cemented the viability and commercial potential of the development, founded upon its excellent reservoir and gas properties, favourable location with regards to existing infrastructure and the opportunity to leverage off existing, conventional technology. We remain fully focused on taking the Anchois project to first gas in a way that can continually grow the resource and project scale and help unlock the basin scale potential that we see across our licence area."