We would love to hear your thoughts about our site and services, please take our survey here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
500% or more is doable on the drill result.
Quite right. 10 or 20% nothing. Does not even get us back to the last placing never mind the 90+% they have lost over the years. This needs at least a 500% rise for any sort of credibility.
Solo must have spoken to Aminex in more detail about the situation. Sounds like things will be happening very soon. Reaffirming the well is fully funded on Solo's part confirms no hold ups for drilling.
We are fully funded apparently.
Cannot leave much in the pot for acquisitions. I’m sure the board have this all under control.
So seems we are committed to drilling and then monetisation off a proportion or all of Ruvuma.
Out now
Excellent news for Aminex this morning who tell the market that all conditions precedent within the control of Aminex and ARA have been satisfied and the companies have seen signs of the Government ‘actively’ resolving several long-standing issues with other operators in-country. Even better news for Aminex is that ARA have agreed to bring forward the $3m advance in installments ahead of completion of the farm-out which provides much needed flexibility to Aminex. The second tranche of $2m, initially due 180 days after the completion will now be paid on completion.
Aminex and ARA have had a number of meetings with the Tanzanian Government recently and they are reasonably confident that farm-out consent and payment might come quite soon. It has also been noted recently that neighbouring country Governments have been reaching out to Tanzania looking for the supply of gas which has been an important part of Tanzania’s state of mind.
I conclude that it would be unlikely to see ARA putting $3m into the pot if they didnt have the confidence that this deal is at long last about to get done, accordingly I am starting to get genuinely excited that the long wait by Aminex shareholders might just be coming to its end with the next stage of the process looming.
Solo Oil
As a modest footnote it should be worth noting that there is a positive read through for Solo in this process although they are clearly gearing up the rest of their business to minimise Tanzania although it would be a big plus.
https://www.malcysblog.com/2019/09/hurricane-rockrose-aminex-solo-serica/
and if my neighbour wants to be nice and donate me 50% of his multi billion net worth, I wont need Solo to do well anymore.
$20m for 25% of Ruvuma will look ridiculous after results for the C1 drill and even more so if any Oil is discovered.
Gonna pay 3 million without a guarantee,especially not the Ara
Would you pay £3m up front, if you were not sure of the outcome.....? Course you wouldn't
Good news for SOLO
Positivity is taking hold and there will be no looking back for SOLO.........RRE here we come :-)
trrime $3 million says otherwise
I think the issue lays with the corrupt AIM market.
The positive / negative vibe of an RNS doesn't always reflect in the SP direction.
If investors cannot read between the lines they should keep their money in the bank. This RNS is a very positive sign.
Trrime....we know your story. You are heavily under water with Solo, but over the last 2 years you have constantly talked down AEX. Today’s AEX RNS is positive. Full stop. If AEX get a positive RNS on Ruvuma, it’s also reflected towards Solo. Do you want your money back?
Fari enough, an early spud gets my juices flowing.
“"We are encouraged by the ongoing discussions with the Tanzanian authorities to be able to accelerate the planning for the early spud of the Chikumbi-1 well”
AEX +22.5%
We most certainly will trrime, I must confess you are sounding a little like you are caught the wrong side of a trade, hope thats not the case.
AEX + 17% thus far.
Market likes it, AEX + 15% so far.
Solo has made another announcement this morning as it ‘strengthens the team with the appointment of an experienced CFO – Mrs Romina Mele-Cornish,and equally as experienced Doug Rycroft as COO’. Doug Rycroft is currently General Manager on secondment from Gneiss Energy so is already fully up to speed with the significant progress that has been made recently at Solo whilst Mrs Mele Cornish has an outstanding record in the oil sector.
These string of releases in recent weeks make me think that Solo might be gearing up for something big, after all these are all the essential building blocks for a company much bigger than is at present. I have had a number of requests from shareholders on social media in recent weeks wondering if anything was ever going to happen at Solo after the tumultuous launch some months ago, these snippets make me think that they should stay on for the ride, I can’t imagine that nothing is going to happen now, as promised then.
https://www.malcysblog.com/2019/09/solo-oil-amerisur-resources/
Thanks for clarifying.
It’s the longstop date being extended by 8 months that does concern me a bit but I’m sure they are just covering themselves.
IMO Tanzania government want to ensure they can meet demand prior to commitment to building pipeline. Once expected C1 flow rates are established (also NT2 rework) everything else will be signed off.
Trimme....stop shooting yourself in the foot!!
$ 3million cash seems pretty Tangible to me
Hi steve, people can read it and interpret it how they like.
For me it reads very positively, you don't prepare to drill if you don't think you are getting a licence anytime soon and the Zubairs are handing over $3 million now - why would that be?
So are they not expecting the licence soon.
Seems we will be doing our own thing soon anyway.
Utterly confused.
You might want to add this steve
“the Company and ARA do not expect to require this extended period to satisfy the remaining conditions of the Farm-Out”
And I don't expect they are accelerating drill operations if they are not expecting the licence soon.
Fits nicely with the solo appointments announced yesterday - deal and drill ready.