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As some will know I have kept the faith for over 10 years. Buying in originally on the hype of reef at 1.99p (40p in today’s money). Having constantly averaged down over the years, ended up holding many millions at still a way to high average and approx 90% loss. Some profits have been taken along the way but they have been few and far between. Many have said do not get emotionally attached to any share. Sadly I did with Solo and have paid for it in a big way. The promise of what is just around the corner has kept me here with a hope that one day it will come good!
I made the decision a few weeks ago that enough is enough! and have been slowly selling .
It feels like a divorce, but I am now completely out.
I have not been one for posting much but have followed this board almost every day for 10 years. May I thank everyone for their posts over the years and wish everyone the best for the future here, and although I am now out I so hope Solo is still a big success in the future.
I think they will want to get out of Africa rather than get more exposure there. The stated vision is Western Europe, so to do so would be an about turn .
A full Zubair takeover may make more sense.
It would be good to get more visibility in to what exactly is going on though. We also have Helium One that also seems to have faded in to the background.
Aminex mc now 15 million.
Could be a tempting target for someone.
Solo maybe.
Of course if farmout doesn’t happen they will be virtually worthless.
Where would leave our 25% holding.
I have no idea trrime, I have long given up guessing on what the Tanz gov will do and when.
Still hanging on in there
They are taking options in Lieu of salary in 2020 caddy, so no wages being paid directly. It does makes you wonder what the money is being spent on then?
Lets hope the 15th October longstop delivers some result!
Another major disappointment. I can only read this as we need money in the bank to pay our wages whilst we sit and wait for the Tanzanian Govt. to do buggar all. Nice job if you can get it. Money for nothing at the expense of the shareholders who will no doubt see a drop in the sp as more shares are introduced to keep the bod in a life of luxury. Or perhaps I am wrong but someone will have to tell me otherwise.
G.P. Jersey have their fingers in a few O & G pies
G.P. (Jersey) is this not the same company that are in BLOE and part of the "shareholders revolt" along with JF and AF?
How about a lovely big drill? ;) I wish.
I’d like to know just what they are spending this money on.
Name change maybe.
There certainly isn’t much else at the moment .
Recognise a few names still posting here. Bigdouble still around ?
Fully agree Caddy, the name change is fully dependent on a Ruvuma deal which seems to be fully dependent on the AEX/Zubair Farmout first.
A change of directors would be pointless and just cost a lot of money and issues whilst still being left waiting for the AEX/Zubair farmout. Anyway, sounds like they have at least one potential buyer based on their last RNS, why screw that up? unless you are representing a buyer of course.
Can't see the point in removing directors as I can't see anybody wanting to take up their positions unless we get another set looking for a gravy train for a couple of years before moving on having achieved nothing.
No people will think Solo, not buying into that as it is a crap company. Perhaps a name change may be effective to attract those new to investing and think this is a new company with great assets. Very doubtful though.
The name change is probably most likely to be implemented post any Ruvuma deal conclusion.
8 working days left.
I’m sure they are all hard at work.
Probably the spelling proving difficult.
Thursday 15th is the deadline for the signing of the farm out.
It’s been over two years since it was applied for.
I do not have much confidence as to it being done by the deadline.
It seems the Tanzanian government are only good at one thing.
Asking for and taking money and giving nothing in return. They should realise that it should work both ways
The new site hasn't got past the landing page yet!
You couldn't make it up.
My belief, as posted many times before is that they appear to have little to offer other than wait for the Ruvuma Farmout conclusion.
We should know within the next 2 weeks with the 15th October deadline set by the Zubiar corp and I expect that will be the catalyst for name change and sale of solos 25% or part of.
Thank you that’s typical not very difficult to tell us you useless board
That would explain the lack of communication.
Maybe they smoked it all?
Not the kind of team to let the grass grow under there feet ( quote by Tom Reynolds ) what type of grass?
We had the same with the previous board.
They had what seemed like a good deal done and dusted but it wasn't to be.
Let's see what happens by 15th and then maybe take action. It seems whatever company you look at its directors basically do what they want within the law. Although they do sometimes get very close to breaking it.