Hi Webmoor, If I remember correctly, SOLO have 15 days after first payment to come up with the cash for the 2nd installment, if they still wish to, they have a pay or don't take agreement so they are not obliged. I did do some calculations a while back and estimated that they have just enough cash for the 2nd payment but non for the third as things stand at present. The third being dependent on being on full production.
To the extent that we are assisting AEX we are in fact assisting Solo. Unless AEX can resolve its funding we will not progress the Ntorya appraisal which is in fact 5 to 25 times as large as Kiliwani North and is the real prize for Solo. We are buying equity in KN on a price set at a production expectation of 20 mmscfd, but we now expect the project to flow at 25-30 mmscfd so we are in fact buying at a significant discount.
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