Member Info for Zebra04

Does anyone have a link to provide evidence of the shareholders in Afriquia Gaz S.A.?

I've only found their association with sound energy.

This has become ridiculous now.

Firstly we were in such a rush to get testing going that Paul raised £10mil at at a 50% haircut to the shareprice at the time.

Some posters here (they know who they are) justified the unnecessary dilution by saying time was of the essence and implied others were too stupid to know what is going on behind closed doors. Fast forward 5 months and nothing has happened except the shareprice has collapsed 55%.

Then there was a delay due to sourcing sandjet equipment.

Then Paul admitted we'd missed the window and instead will use traditional testing to get things moving.

Then testing was delayed because now Paul wanted an mou signed before starting. Some of us questioned this excuse at the time because it didnt hold up.

Now there's a delay due to morrcon administrative issues.

Now we hope to test next year.

"It is CURRENTLY FORCAST that rigless testing operations will begin as early as possible in January 2024."

Classic Paul statement. Currently forecast means the statement is only true at this moment in time. The forecast could change tomorow and were none the wiser.

How much of the 10 mil has been wasted thus

Shortshift I dont know why this matters. He's put a face to his posts from day one. That's worth more.

I was there when he purchased his shares and posted on here. I commended him on his timing. I was a bit early and topped up at 2p.

I'm amazed that people still believe Trinidad will be producing and generating meaningful revenues next year. Despite all the previous evidence suggesting the timeline isn't worth the paper it's written on.

Paul can miss 10 deadlines and some personal investors still believe him the 11th time.

As Jimmy mentioned yesterday, Memorandum of understanding is not a a legally binding document and a weak excuse for the delay.

When this company was formed morroco wasn't part of it. It was co2 eor in Trinidad and gas in Ireland as a transition fuel. Paul empathised how we were a "greener" fossil fuel company and were not interested in traditional oil production. Made sense with green agenda. Paul's done another 180 flip.

For those that can't comprehend the lack of respect from the board. Many posters on this board regularly checked satellite coverage of the well sites and regularly updated the rest of us. Kieth in particular took his time to educate others. What a waste of thier time. We know Paul reads these boards and yet he couldn't be bothered to update the market when he said he would.

@obadhia

I agree, Trinidad is a waste of time and resources.

We wasted years and money just to get the phase 1 pilot co2 study going and we were then shafted by Challenger who unilaterally shut it down and ghosted us.

For those that weren't around. The pilot co2 project was years behind schedule but that didn't stop Paul quoting new timelines for him to inevitably miss. We only got as far as proving up the pilot study. Then Paul went on about how others in Trinidad were lining up for our co2 know how and partnership's were forthcoming.

0, that's how many deals came of it.

The moment a deal with challenger was announced, I called it out as a ridiculous move. Which self respecting individual goes back in to business with someone that has screwed them. By extension Challenger also screwed prd shareholders who waited years for the co2 project to make us some money.

For those not aware there was a time when profits from co2 eor was supposed to fund morroco. The good old days, 100mil share float and owning 1% of the company. Instead we've diluted 5x and we're at 2018 prices.

It's astonishing that Paul waited 21 days to update the market on delay to testing. Trying to sweeten the rns with a Trinidad update is frankly pathetic. Reeks of immature behaviour.

Some folks seem to forget the board works for shareholders.

At some point morroco will help us reach £1 sp or divi. Then I'm out.

Timing of options and no rns to inform of a delay as explicitly stated in the previous rns.

Folks giving too much credit to derampers.

The share price has halved because Paul raised hastily at a low price. Many on here defended him at the time, as if we had time restrictions. Those have turned out to be bs. I'd take any further speculation from posters with a pinch of salt.

It's an amateur move to raise before we even have a date for testing equipment and personal to arrive. 10mil sat in bank for over 2 months and we've made zero progress except kill the sp momentum.

Sandjet was supposed to be quicker and cheaper than traditional explosive testing. Over 2 months later and we don't even have the equipment delivered nor a timeline for doing so. We should've just done traditional testing instead of trying to be special.

1. Mou1 was supposed to be tested in May.

2.Then we were going to test all the wells in September

3.Then we were going to start testing mou1 in September.

4. It's October and paul doesn't even have the deceny to comment on the delay.

We've been waiting over 2 years for mou1 to be tested and have raised more than once to do so. Where has the money gone from previous raises that was allocated to testing mou1? I guess we'll just let that slide.

Now it's October. Anyone still defending the board is pathetic.

Shame on you Paul, complete disregard for shareholders.

Our asset is world class but our board is rubbish. The former means I continue to hold until my exit strategy but I have little respect left for our management.

I've held my shares over 5 years.

Thanks for the explanation Keith.

Always great to learn new things on here.

Great Post kieth.

Geology has always fascinated me. I'd wager the red one.

At a depth of say 2000m, what sort of temperatures would you find at gg20 and gg35?

If you know the gg score and know the depth, do you then know the temperature?

Findme

If it flows as predicted and proves up cpr then it's a rerate based on reserves. Path to commercialise is striaghtforward.

@mikey

Yes or many of us would've exited long ago.

Mou1 flows as predicted and proves up the linkage to mou3 then it's a huge re-rate of the sp. Sp prior to raise was 21p before any flow testing results.

One more month to go and then this will no longer be a penny share.

Mou3/4 results in October or November by the latest.

Cng deal and another well drilled by the Xmas.

Lots to look forward to for the rest of the year.

Once the churn is done of we go. Since the announcement of the placement and the forward selling, 200mil shares have been traded.

Great Post Keith.

Well it's taken me a while to post.

I was obviously annoyed with 7mil at 11p, even more so the following day when 10mil was raised at 11p.

Additional £3mil dilution at 11p that we didn't need is ridiculous. That's an additional 30mil shares added to the float for sake of it. The £3mil should've been raised after testing. Come on Paul.

It's been 5 years now that novum have done these crappy raises. Their buyers always start forward selling even before the rns. Paul we don't care about the placing being oversubscribed every time. When you raise at such low prices it's no surprise traders want in for a quick profit.

Time after time news has been leaked and management does nothing about it. Time and time again money has been raised and loyal shareholders excluded.

My holding has now been diluted more than 5x.

What happened to the money we raised for testing mou1 and mou3 in May?

Only positive is more investors realise this company is terrible with how and timing of placings.

Years ago myself and other lth put the cln arrangement down to Sarah cope (old director in charge of finances) however now I think Paul is the gullible one. A great geologist no doubt.

Paul you've let down long term shareholders that have stood by you and this company for years.

The end.

@madmanrob

Great Post and much needed.

A lot of ridiculous posts the past few days accusing other posters of having inside information.

No one knows what the true volume this mornign is.

Could be delayed reporting of trades.

Personally I wouldn't pretend to know. That's disingenuous.

Edark

Because the company hasn't replied to you, you have decided to post multiple times a day on this forum, hoping the company notices and replies to you. Quite childish.

"Doesn't even matter if my questions can't be answered at the time..."

Ah so the answers to your questions aren't that important to you. It's more you want the company to acknowledge you and say hello.

I can't be bothered with this. Onto filter list.

Good to see you back Bradley, it's been a while.

Edark

I've communicated with the board in the past and they've been helpful.

Now is not the time to be answering individual investors question.

Far more important things for the board to deal with currently. Things have been moving quickly.

As far as the IR firm is concerned, they can't give you any information that hasn't already been released by the company. Neither can the board. They've released what information they have chosen to for the time being. So I don't understand what you think you will gain from speaking to Paul?

Since you won't be getting a reply from the company, does that mean you won't invest and move on? It appears to be a significant weighting factor for you.

Or are you indecisive and prefer to stick around and moan?

That's our first time in dailymail. New eyes.