I agree Safetrader. If we were going to have a placement why not do it last month when we were at .8. If we do it now we will have to issue twice as many shares and if it is done in 2 weeks it will probably be four times as many shares as now. Surely NR cannot be that stupid, or have I got it all wrong. The last time he made a placement was at .18 when we were at about .24 I think. Hope that does not happen again?
So we virtually ghosted the AEX share price right up until the rns, and now we are relatively trading circa 20% lower than AEX - Why is there such an apparent trust issue with the SOLO BOD and what can they now do to alleviate investor concerns at their ability to manage / fund this significant find. Personally I feel that the farm out has already been agreed and the legalities need sorted out before it is RNS'd. Why else would SOLO get involved with the Helium project. They would need to be raving bonkers to bite of more before they knew they could fund / sort both projects. AIMO.
Would love to see a few large buys coming in now to get that feel good factor flowing again and a bit of confidence. We're all feeling a little kicked in the gonads. Not even a chocolate hobnob with my coffee helped this morning. Perhaps a cheeky early G&T might be better this afternoon if we end up blue later ;)
Can anyone by way of facts confirm what is scheduled to happen next?
We have been informed about this excellent Gas find but what is the plan to bring it to market? Is it 100% SOLO will farm out and if so how much? How is a value calculated? What costs are SOLO liable for to continue in the Tanzanian project holding its current 25% stake? I would be interested to know the cost to return ratio to hold onto the 25% and I would be more than happy for a placing to support this (as long as PI's get first option) Will we be involved in NT3 drill ?
The major responsibility to bring this gas to market will be AEX's therefore we (as an investment Company) simply need to pay our 25% share of the costs but I would prefer to know projected returns on our investment upfront with a timeframe attached.
Fjones your mention of "Well damage" is misleading and technically inaccurate. The reservoir and not the well was damaged by the heavy mud that had to be used due the natural high pressure & flows. As indicated in the video this can be dealt with normally when moving the well to production and is quite recoverable.
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