BH need to clarify the situation by sending another more positive RNS- followed by what SOLO has mentioned. I think that market is still waiting a confirmation from AEX, as they are the operators and hold 75% stake. If anyone ois going to the AGM- Please ask BH to learn the art of writing positive RNS's. The market does not like to read big- non bullet pointed RNS's which don't make a sense. Learn to write up bullet pointed RNS's please BH. I hope that you read this post and make amendments as required.
SOLO RNS ATTACHED .Solo Oil shares moved higher on Tuesday morning after the company clarified that FirstEnergy Capital, which is acting for both Solo and Aminex, continue to actively discuss a farm-out of the Ruvuma production sharing agreement (PSA) and said that currently there are on-going discussions with over five interested parties.
Solo said that the farm-in discussions are expected to be concluded once the revised PSA terms associated with a variation of the current term of the licence are received.
The company is now awaiting formal approval from the Tanzanian government.
Neil Ritson; Solo Executive Director, said: "We at Solo remain of the view that a mutually attractive farm-out can still be concluded. The revised PSA terms, when approved, will allow the necessary additional seismic to be completed before drilling obligations become due and that will significantly increase the chance of further discoveries."
Solo RNS gives positive hope . The Aex RNS yesterday cost the company many millions with either honesty or ill placed negative spin . Possibly I,m just trying to hope too much in the face of blind panic at being 75% down .Usa assets could still bring in a reasonable amount and the farm out here could still be done on reasonable terms . Whats clear is this is not going to be a huge multi bagger for existing holders but there is at least hope that we,ll get our money back . next 3-6 months will be pivitol . GLTA .
Datafeed and UK data supplied by NETbuilder and Interactive Data.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk!
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.