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Full time job for you here then Kever.
If you were only another concerned investor you might just be annoyed that the last two RNS's were issue of equity and issue of warrants when the SP is on the floor. What we want to hear is finance secured and rig mobilisation.
Your mindless happy clapping and jam tomorrow doesn't cut it.
Clearly you are very worried. I suggest you sell your imaginary shares and move on.
I am not paid a bean to post. I have been very critical of TRP for its past failings. However we are now on the verge of very good times. I am not desperate in the slightest.
Yeah, pretty sure I've heard him mention cost for storage etc.
Imagine what the humid weather would do to steel if not stored properly.
Lets just hope we get to use it soon
So it's $6millon dollars of pipework. ?......crap !! Publish a real list and not just some Bu_ll$h_1t about it's only pipes and we own the yard and it's locked up.
Even Asher has said in one or more of his presentations and in an RNS that there are costs involved with storage and maintenance. This equipment has been in storage for over three years now.
My agenda is pointing out that if there is no finance and Thali does not get drilled then he can issue all the warrants he likes but you can be sure he will issue more shares to fund the overheads.
What's your agenda then Kever ? Do you get paid to be a cheerleader or are you just so deep underwater you're getting desperate ?
What is your agenda here ?
TRP own the storage yard in Douala so what storage costs are you on about ? How does steel / Aluminium alloy drill pipe degrade ?
Does it melt in the summer sun ? LOL
It's all under cover anyway
Don't be naïve Kever. Call Asher and he can tell you how much it costs for storage alone. Things that get neglected degrade or didn't you know ??
"That equipment needs to be kept on care and maintenance which costs money and if Cameroon was mothballed it might as well be game over."
All the long lead time drill equipment which includes lots of drill pipe is in a locked compound in Douala. What care and maintenance is required expert ?
" If Cameroon was mothballed TRP has $6 million of paid for drilling equipment that has resale value in Douala."
That equipment needs to be kept on care and maintenance which costs money and if Cameroon was mothballed it might as well be game over. It was not for no reason that Asher was saying five years ago that Thali was the focus of the company and with good reason. All this trying to deflect the attention to Namibia which is a wildcat and needs a JV with a major or to SA with a few added paragraphs on a website will not change the fact that the future of this company is dependent on drilling Thali.
"Reduce the overhead and get a deal done or it's game over."
TRP have 6 yes 6 employees. Should Cameroon not get drilled and the licence mothballed why would TRP go under with zero debt ?
If Cameroon was mothballed TRP has $6 million of paid for drilling equipment that has resale value in Douala.
It is said that a gold mine is a hole in the ground with a liar at the top and the same could be said about oil wells or any hydrocarbon prospect.
We already know Thali is a discovery and the geology is very straightforward. Anticlines and stratigraphic traps, we don't need telling. In any case the full dataset would in be available to any JV partner who would do their own analysis or due diligence.
In the scheme of things, issuing warrants that may end up worthless is nothing really but this has been going on for years now. More important would be knowing how much the company is paying SP Angel who are a pointless oxymoron as far as TRP is concerned. Reduce the overhead and get a deal done or it's game over.
"Paula Brancato and Mark Enfield actually contribute to TRP. Neither has any O&G experience in the E&P sector"
Rubbish.
Dr Mark Enfield BSc(Hons), PhD, FGS
Independent Non-Executive Director
Mark, 62, is a geoscientist with more than 30 years’ experience and a doctorate in structural geology from Royal School of Mines, Imperial College, London, and has been an advisor to the Company’s board since 2013. He is CEO of Geoscience and a director at EPI Group.
After an early career in international exploration plus development projects in the Gulf of Mexico working for a large US independent operator, Mark founded P.D.F. Ltd in 1994, a highly successful E&P consultancy that developed the ‘Outsourced E&P Department™ (OExD®)’, partnering with oil and gas companies to provide a ready-made, full spectrum, subsurface geoscience function to support their operations. PDF was acquired by the larger international energy consultancy EPI Group in 2016 and now continues as the Geoscience Department within EPI, which Mark continues to lead.
Mark also founded TerraMod Ltd, a specialist basin modelling and oil generation/migration software and consultancy provider to the exploration sector. He founded the PDF Fellowship (for collaborative research within the oil and gas industry), based at Plymouth University in 2005 and remains an active collaborator with this and other institutions.
Thanks Dicko - very good news if we are able to recover percentages of that!
Just more warrants for JA and two NED's. Look at the aggregate total of outstanding warrants ( albeit at progressively higher prices ) outstanding.
OK.....Asher is the CEO but can anyone tell me what do Paula Brancato and Mark Enfield actually contribute to TRP. Neither has any O&G experience in the E&P sector and they just pick up these warrants every three months for nothing. Not bad having a free bet on a company that if Thali funding were to materialise would ten bag.
And ENVOI are the jokers who are supposed to find funding opportunities for their clients. A one man band outfit that found Beluga and those Aussie chancers......what a success that was.
Jezza needs to dump the deadweight feeeloaders and get people who can really make deals in the oil business as he is clueless.
Hi lsetown & all
After further investigation into the costs and speaking with the company over the weekend , the book value in the accounts is the “cost”
SA $13.7m
Which the company expects to recover if the project moves forward (assuming farm out )
Envoi upped info page last paragraph
“The NewAge operated Group would now like to find a partner(s) interested in earning up to 50% of their combined 100% interest by contributing to past costs and funding a new 3D seismic survey (estimated likely to cost US$ 5 to 7 million gross). The new partner will also have the option to earn additional interest by further contributions to an exploration well in the subsequent Licence Period.”
https://envoi.co.uk/projects/active-projects/africa/south-africa/
From the accounts RNS 3rd June
2 Included within total assets of $34.8 million (2022: $32.5 million) are $20.1 million Cameroon (2022: $17.4 million) , $907k Namibia (2022: $751k) and $13.8 South Africa (2022: $13.7 million)
“In South Africa, our co-venturer and operator NewAge is continuing to explore the options for acquisition of new 3D seismic data over our deep-water Outeniqua basin lead, which continues to attract interest from third parties. The farm-out process which they have been conducting has now resulted in a serious discussion with one party getting underway, though we cannot yet say if it will result in a transaction, and we cannot provide more detail or comment further while discussions are in process. We will inform investors promptly if a firm agreement is reached.“
Mkt cap £2.5m
Hey Santiago, a placing coming , you said that last week and the week before. So, with your crystal ball when’s it going to be?
You mean confetti !!!
Placing about to hit the Shareholders
Massive quarter for the tower
🔥 finance for njomi3 well to be drilled Q4 🔥
🔥 SA farm out 🔥
🔥 Namibia updated volumetrics, confirmation of work programme and talks with several large majors 🔥
Mkt cap £2.5m
Bring it home Jeremy 🤞🤞🤞
Is JA gona do a Bellingham tomorrow morning with an RNS ??
Thanks Dicko. That would keep us afloat past the drill result (if it ever happens).
IF......... only it was that easy.
If Cameroon want this drilled why don't they exert some pressure for a Cameroon bank to finance TRP?
I'm glad someone else thought JA sounded desperate in that last presentation.
There's no doubt he wants the company to succeed and he has historically put more of his own money into it than most other AIM/small cap CEO's, many of whom blatantly exploit PI's and use worthless shells as lifestyle vehicles.
In simple terms the company needs a total of $15m to progress Thali which would, if the drill was successful open the doors to further exploration which on the face of it looks promising.
If the money was there then a ten bag from here would be achieved and the market cap would then exceed the investment twice over.
If JA reads this board then the simple message is get a deal done and don't be greedy........something is better than NOTHING !!
Lsetown
My research suggests around $1.7m back costs to the company for SA
I finally got down to watching the recent interview. Much of the old old speed he has been reusing and repeating for the past few years. However he seems more desperate and less confident in my opinion.