Indeed - grazie molto for adding, and yes, Northcote figures would be welcome as well to settle the uncertainty. What this all amounts to of course is the key that is required to unlock the door, that key being funding or a partner with funding. Firstly to sort out the debt issue, due to (was it?) Argus / some Cypriate outfit, by June this year (please confirm I have this date right?) and secondly to fund everything going forward. Personally I would be very surprised if there weren't discussions going on in the background, as it was always the intention to obtain further survey data to strengthen position for a lucrative farm out to enable back payment of monies spent and funds to cover drills etc going forward. And they're going to need a stack of cash to materialise the true worth of what they are sitting on. I think it's too early for these guys to sell out as they know there is a shed load of value under their plot of ground and they won't get full dollar until they prove some more of this up through further drilling. They absolutely have to raise funds and this has to be by way of either a farm out, or as Tiptop has stated on several occasions some kind of loan arrangement (name of which escapes me now) - I feel the latter is possibly more likely given the appointment Tom Mackay and his status as a Partner at Gemini O&G Advisors who act as tech and finance advisors to Gemini O&G Funds. The fact they invest in appraisal and development projects globally is too good a match to what is required to be a coincidence. If I were investing a stack of cash in an outfit I would be much happier if one of my people were involved in the outfit I was investing in. I think a lot of the building blocks are in place, but the Tanzanian Minister better get his backside back from Davos and sign that piece of paper that is sitting on his desk pronto!!! This will unlock many actions that are currently pending and which are only likely to progress when the uncertainty of an unsigned GSA is removed from the equation....
18 December 2014 Solo Oil plc (AIM: SOLO) has been advised by Aminex PLC ("Aminex") that they have updated their internal resource estimates in the southern part of the Ruvuma Petroleum Sharing Contract ("PSC") area, in which Solo holds a 25% interest, from mean initially in place gas of 2.3 trillion standard cubic feet ("tcf") to 3.2 tcf.
Oh... and the production payments of $10 per barrel from US sale to Northcote.....
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