Just had quick question I have only been trading for few years so apologies for the ignorance but I was just wondering when the news starts flowing and we get rerated how does this work. Does the price go up over a period of time say a month or does it happen much quicker? Also is the rerate value calculated from our reserves and how much we will get paid for each bcf. Any advice would be appreciated
Seeing as David Lenigas is no longer on the board of SOLO, having resigned last year it will be interesting to hear what he has to say because if he is still being kept in the loop that is insider dealing by any stretch of the imagination.
You should remember revoy that SOLO is an AIM company, far less regulated than Aminex which is fully listed both on the LSE and the ISE stock exchanges and as such subject to their more stringent rules.
The price of gas in Tanzania is rather self regulating. They simply don't have any and can't import so the price is through the roof. So in that respect I don't see it having any effect. I really do think it's just red tape and inexperience holding things up. The price for industrial gas is circa $9 and power gen $4. Private supply can be as much as $11, when I last checked. It's like any other commodity being a supply and demand calculation. The only thing which will put some pressure on is diesel will be much cheaper for power generation but it's still a very expensive way to create energy especially when they're importing the diesel. Tanzania needs to secure gas supply for its future growth and prosperity and a short term dip in oil has little effect on that.
Emailed aminex, got a reply saying cant give out information to an individual shareholder however will updatevthe market when appropriate. I wonder how people get in touch with NR from Solo, and he happily gives out info, but aminex doesnt.
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