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.
Looks like things may be starting to move in Tanzania. Good spot keyap
Thanks for that BDS - really cheered me up ...NOT …. I can remember when this board was calling for NR's head and I felt slightly sorry for him ! Well how stupid do I feel now knowing hes peed up the wall millions of pounds on a gamble …. f f s …. Ive been in this for years …. the ozzie was a safer pair of hands than ritson …. AIM is an absolute joke & I really hope just like PPI that in the future we get compensated for this disgraceful GAMBLING of SH monies …. would love to know the reasoning behind the PAN investment by NR and why he is not held accountable … millions lost is absolutely terrible …. investment vehicle ...what a joke, this BOD should look to take legal action against the old BOD
1st place) UKOG
-ve Tellurian sale concluded meaning 275,988,960 new shares at 1.09p each may start to hit the market tomorrow depressing the share-price.
? Planning meeting should approve four proposed production wells this morning.
+ve Rig due to start drilling before end of month.
4th place) SOLO
+ve Bolted on low cost service and advisory companies in advance of new investment in producing licences.
They have already been looking at a few swimming pools and now they have the flippers and snorkel. Splash pending.
Lesser read RNSs
WEN
+ve Wentworth are still waiting for the PSA review to finish but have made progress on their sales agreement- volumes, prices and payments.
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/WEN/14221575.html
"..The agreement on declaration of COD also includes treatment of the outstanding invoices in accordance with GSA payment arrangements, such that any outstanding arrears are cleared by 30 June 2020..."
".Following the ongoing Production Sharing Agreement ("PSA") reviews, the Partners will look to secure a licence extension beyond 2031 to allow the joint venture to unlock the material prospective resources remaining in the concession......"
ALTN
+ve Got a project development loan of $17 million, to be repaid over 7 years at an interest rate of 6%.
Sorry slight miscalculation of initial amount
Unfortunately it was one of his presentations that made me invest more. At .54p old money (12p today) he said that the company was seriously undervalued and it should soon be over 1p (20p today). Look where we are now.
I really do miss the NR days when he would presentations. As a novice I used to find it helpful to what the company is actually doing and where things are heading etc.
the problem is with no win no fees they not normally fair and like there pound of flesh, I only got 3k in here but I got to say when I saw the green N I got quite excited and then read the news and also it is a start got quite glum just like the buying today in response, like some have said on here it is the start so lets see what comes in going forward, very forward by the looks of it but I`m sure a interview soon might help GLA !!!
Neil.....some wells that are mid to end of life, that are only producing say 1000 bopd are abandoned by a major or midcap. They are not interested unless it’s producing 20000+ Bopd
So a little minnow comes along and takes ownership of the well (for a nominal fee) on condition that at end of life, the minnow takes responsibility for decommissioning.
This is purely my take on the situation and the example is trying to explain the principle. I believe the bod are more interested in natural gas assets. DYOR
Maybe if the BOD's took a decent percentage of their salary in shares at or above the recent placing price, just to show a little faith in the 'plan' and alignment with long suffering shareholders.
Seems that we will pay no cash for services rendered rather a share of the spoils.
No win no fee.
Looks like they are jumping in at the deep end and going after some non-operated assets. It’s good that they are excellent swimmers. Perhaps even lifeguards. Stop ramping Aimster.
Dont forget SOLO do not have a workforce. These deals are an important step in having all the necessary support and resources to take care of our asset/s.
Its all about getting your ducks lined up.
A deal should not be that far away now
And.....?
What does all that actually mean to us? I read the headline and got quite excited, then realised it’s just an over-worded RNS with nothing tangible
It is a shame our expensive bod past and present used that same mantra, there would be many more millions in the kitty if the were paid only when they actually worked or got results.
Agree steve, preparation to hit the ground running on a deal closure. The BOD said typically 6 months from start to deal close, that would take us to around the end of this month, give or take a few weeks.
A start I suppose.
No cost to solo unless they use their services.
Usually the same anywhere don’t use don’t pay.
Let’s hope this means a deal or deals are almost finalised.
I wonder what qualifications you need to do business, where you buy something for millions and then flog it to poundland. I guess you need a degree,maybe a masters in business and years of studying for that transaction to materialise... I'm certainly not worthy.
Maybe they'll go shopping in poundland for the next acquisition. Look on the Mr Brightside... NO NEED for dilution this week. Yippee!
I'll comment after further progress! ;)
Unfortunately the deluded one's ( me included have little wepondry to defend with untill the news cometh and BDS revels in that, but news will come and the likes of BDs will become a vapour trail, If I am wrong then I will apologise but I remain bullish.
2016
Decisions are still awaited from the Nigerian government on the the Marginal Field licenses
Says it all. Africa is high risk but high potential reward, seems Tanzania was a far better choice despite the delays....
£1 great business...is this the NR adventure into west Africa Pan minerals that cost us a £1m dilution at 0.6p old money ?
I’m just trying to remember, too long ago! I’ll be honest I’m lazy to dig through the old solo notes would have to go in the attic and dust of that old note book haha.
Couple of twitter posts from today, on the cusp of transformation! I hope so.
https://twitter.com/solooilgas
Solo Oil
Solo has announced the disposal of its Burj investment to a partner for a nominal £1 which means that the company relinquishes any future costs associated with the project. Executive Chairman Alastair Ferguson stated that ‘it may be a nominal consideration but the symbolic relevance is material’. For shareholders it is important that the board continue to rationalise the portfolio through divestment of all non-core assets and to ‘focus our attention on building the company going forward around cash flow from high quality assets in low-risk jurisdictions’.
I have said before that Solo is now being run by a high quality team of oil industry executives who are determined to change the company in many ways. I know that they are particularly keen to make acquisitions as well as disposals and I’m sure that these will occur before long.
https://www.malcysblog.com/
Recognition of a new BOD at least caddy.........!
please pass it on to BDOS and the others......... :)
All the best (time taken........... is a count down :)
Not exactly new now and they have had plenty of time to put a more positive view on the future of the compamy - which imho they have failed to do. Still a long way from sure whether or not this will multi bag or go bust. Please bod give us something positive to hang on to.