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It was obvious the fall in the gas price had a factor to pay.
We would have overpaid big time.
Worrying that five months have gone by all the expense involved.
Given the current market conditions i don’t think the it will go down very well,
Sounds like it wasn't the deal it was all cracked up to be.
Deal has fallen through due to gas price forecast and increased Opex costs and Ruvuma is formally up for sale.
https://www.investegate.co.uk/solo-oil-plc--solo-/rns/transaction-update-and-restoration-of-trading/202003020700066431E/
Just caught a reply tweet from him (Malcy 28/02/20 22.45) asked whether he had caught up with Aminex - ‘Yup, bottom line is all fine at the moment’.
Whether he will report back more than that, we will see...
Snap; laugh otherwise you cry !
One day get the laughing gas may give us the last laugh.
I think I am right that SOLO has to be unsuspended by 8th April because 6 months suspended would mean removal from AIM.
We probably haven’t done the deal as the gas price is falling almost on a daily basis.
May be in the best interest of shareholders that the deal doesn’t happen at an inflated price.
Oil is also falling.
Maybe they get into the potash market.
Start from the premise that he is earning a living out of it one way or another, just like every other commentator out there. Good source of information but make your own mind up about their opinions.
People cannot blame Malcy, he reports what he is told by CEOs etc and does not make things up.
Lots of oilers he tipped have bagged. Problem is people get greedy and forget to sell when in profit, particularly if trading. Simplest of rules.....
Exactly AA, everyone got a bit over excited, still everyone is a little jumpy right now in the markets.
Freefall is a bit drastic ( only about £25k sells Frank, if you discount the rollover.
Don’t you dare complain now, Aminex is now In free fall it looking like, this stock market correction or Virus crash is coming at the worst time as it ISA time, if you listening board keep this bugger suspended all threw March as I believe it going to get worse before it sorts itself out GLA !!!
Top riser in my portfolio this week.
from another poster...
Dow's previous worst weeks:
2008: Lehman Brothers -18.55%
1933: Great Depression -15.55%
2001: .com crash -14.26%
1940: UK about to be invaded by Nazi Germany -14.21%
1929: Wall Street crash - 13.52%
1987: Black Monday - 13.17%
This week DOW down almost 15% ..... !!! for the Flu
Aminex seems very stable considering the impact on most O&G stocks. I guess domestic gas production/supply/exploration in Tanzania is providing insulation from the oil price and impacts in the wider market over covid19.
It's a pity that they never closed the stock market
Can’t see many moaning we are not trading at the moment, portfolios getting a good hiding this week.
Not exactly been a great year for O&G and Malcy does not hide the results, here are the performance of his bucket list results from August 19 to date as published by himself.
PetroTal Corp +28.6%
SDX Energy +15.6%
Aminex +12.5%
Amerisur Resources+7.2%
RockRose Energy -2.9%
Serica Energy -5.9%
Genel Energy -6.1%
Rockhopper -16.3%
Trinity Exploration -16.4%
Chariot Oil & Gas -16.6%
President Energy -20.4%
Savannah Petroleum -39.9%
Echo Energy -45.6%
Far Limited -48.3%
Jersey Oil & Gas -49.0%
Reabold -53.5%
Victoria Oil & Gas -59.9%
Hurricane Energy -67.2%
Eco (Atlantic) Oil & Gas -77.1%
Sound Energy -82.6%
https://www.malcysblog.com/2020/02/february-bucket-list-update/
Trrime, I think I did have a go at myself, the one person responsible for losing my investment was me...I think you misread me, maybe I didn't make it clear enough.
But, you seem to have an aggressive angry tone about your messaging but if I'd lost 100k in Solo I may be a lot angrier than you so lets hope when Scirocco Energy appears/reappears, it's a more positive future...good luck.
...And I certainly don't think my message was, nasty or bullying - I thought it was fairly sedate, in fact, I thought your words to me were more aggressive and confrontational. But I'd be happy for you to indicate where I was nasty or bullying? I'll wait for your reply.
Sorry Trrime, I misspelled your handle...it was not intentional.
@Trimme - I totally hold my hand up and only one person is responsible for losing my investment, that said, when I started investing only 3 and half years ago it was because I didn't trust the pension financial advisors to have my best interests as a priority. I made the mistake of listening to someone who seemed to hold a good rep and was very convincing, especially as he continued to pump SOU all the way down. Unfortunately, I didn't have the experience at the time, or the know-how to investigate a company correctly. Much has improved, but Malcy is no better than those pension financial advisor whose back seems there to be scratched - I was gullible, he taught me a lesson but that doesn't make him admirable. I feel for the next gullible investor to listen to him.
Bd1s, and your point is ?
Have you not seen the state markerts this week, better we are suspended, but I suppose thats Solo's fault as well,
Let’s hope AEX continues the good fortune Friday/Monday, it holding up well so far !!!
Thanks AA very useful link
"Gov't Update Expected Soon"
https://www.oedigital.com/news/476021-aminex-s-wait-for-tanzania-approvals-continues
Thanks to GL