Guess we just need heaps of patience, I seem to recall Isle of White being mentioned as a target also and with it's geographic proximity and connection to Kimmeridge makes this promising also as well as something I can watch first hand.
The acquisition of a stake in the Kiliwani North Development is expected to provide ongoing revenue once gas sales commence in 2015. During 2014 the portfolio was significantly enlarged with the acquisition of additional assets in Tanzania and the UK. The Company's track record in exploration was maintained through the drilling of the Horse Hill-1 well and the discovery of oil in the Portland Sandstone and indications of a major basin-wide Jurassic unconventional play in the Kimmeridge mudstones and limestones. To date the Company has been involved with four exploration wells; Likonde-1, North Airport-1, Ntorya-1 and Horse Hill-1, with all four wells having hydrocarbon indications, and three being considered potentially commercial. In addition to exploration, Solo has now acquired an interest in the Kiliwani North-1 well which is due to be on stream for gas production in 2015. The Company's Ausable field wells in Ontario continue to be shut-in but to have production potential and efforts continue in order to unlock that potential. Total net assets £13.33M as of 31 Dec 2014.
anyone read the brilliant report we spent half in 2014 then we did in 2013 an out portfolio has doubled and people where happy at 0.50 back then . We have so much assets and one very production money people say it not much around 0.20 but that's sort of a guarantee the share is never going to drop low levels again. Personally I think it's the wisest choice on the aim atm. Great upside, lower risk, and a short wait for return
Your unhappy with our investments or can't see what we have in Tanzania gas reserves then why not leave? Not going to be missed... Good luck to all and see this as a great buy in price ...pleased I've got a good holding here , waiting will come good, not that far off to make great returns ...that's if your in!
party club boys (LTH) ....... its not even looking like blackpool for me at the moment ! Heres hoping .....anything over 1p will delight me........PJ get your finger and lips off NR and JB's ass ...... we have done nothing but spend money .....we need a revenue stream or farm in within the next 6 mnths or further dilution will hit and we will drop to the 30's .....rose tinted glasses is fine but dont get too carried away
In East Africa, a presentation to parliament by George Simbachawene, Tanzania's energy and minerals minister stated that the country’s current natural gas reserves are estimated to be approximately 55 trillion cubic feet (tcf) following new deep sea discoveries off its southern coast.
The government had raised the natural gas resources estimate by 18% following the discoveries by Statoil, Exxon Mobil, BG Group and Ophir Energy, Reuters reported.
Natural gas estimates
East Africa is a new hotspot in hydrocarbon exploration after substantial deposits of crude oil were found in Uganda and major gas reserves discovered in Tanzania and Mozambique.
Simbachawene explained that: "As a result of ongoing exploration activity, natural gas resources discovered in the country rose from 46.5 tcf in June 2014 to 55.08 tcf in April 2015, equivalent to an increase of 18%."
Further to this, a pipeline connecting offshore natural gas fields to Tanzania's commercial capital Dar es Salaam would be commissioned in September, reported Reuters.
Distribution pipeline targeted
The 532km pipeline and gas processing plants, financed by a $1.225 billion (ZAR15 billion) Chinese loan were initially expected to be completed last year, but were delayed due to technical setbacks as a result of pre-commissioning inspection tests on the pipeline.
"The commercial operational date of [the] gas processing plants and the pipeline has now been set at September 2015", stated the Minister.
The pipeline has enable the country to switch to gas-fired power plants and reduce oil imports that could lead to an annual saving of over $1 billion (ZAR12 billion).
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