AGM Questions, page-66

Sorry mate I haven’t got anything more to add. I was sitting behind what sounds like was @VOGC at the meeting and he asked some good questions. I think **riel had Scott on a tight leash unfortunately. Have never been to an AGM before where the board turn up 5min before the start of the meeting and then try and wrap the whole thing up in less than half an hour. He basically shoved Scott out the door so there was no chance of any meaningful discussion with him. Fully understand that there’s more important things happening in the background but I was a bit disappointed. Lucky the drill bit is doing the real talking at the moment.

My thoughts on how things are going to pan out based on what I heard today - IMO we’re going to TD the 8-1/2” hole at 4,000m imminently if not already. I’m assuming we haven’t hit a water contact yet. I think we’ll get an announcement on Mon that we’ve hit TD and possibly hear prelim wireline log results as well. Later in the week for MDT results, samples to surface and hopefully a formal discovery announcement. Then I think we’ll also hear from Scott that they’ll run and cement the 7” liner for future flow testing. And will deepen the well as far they can using the 6” bit straight away….and only stopping when they hit the water contact or the limit of the rig. Scott mentioned that when (or if) we drill below the toe of the 7” liner with the 6” hole it will purely be for exploration and not completed for future flow testing - they‘ll use their slim line tools to log it but will have to plug it up with cement on completion. So I’m guessing that the goal is really to get a grip on how big the Lower Angwa is and how that extrapolates to the enormous potential of Mukuyu. This is all still being discussed at the moment apparently.

Unfortunate timing for the AGM I think. The timing was too sensitive to be able to discuss anything freely. In a week’s time Scott would have had an open bar at the Celtic club and we would have heard some real stories about the motherland and the mother load we’ve got! AIMHO