The next focusIR Investor Webinar takes places on 14th May with guest speakers from Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register 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.
I'm surprised the bod haven't kept us up to date with how they are functioning amid the covid crisis?
Have they furloughed themselves ? "do they still have the enlarged team they built around the ONE- dyas deal and the Scirocco aborted launch ? have they lost the ability to communicate to shareholders? and why don't they update the website in these fallow times.
Agreed. I’d rather we had a tidy sum in the bank now than wait many more years to earn anything like the sum involved. Take the money as soon as possible further investments that generate income from day one and return some to shareholders. All imo.
I couldn't agree more trrime. It is just a pity that it has taken me over a decade to finally admit it to myself..... :0(
AEX and SOLO will be my last foray into Africa in sizable, long term investments anyway.
I would tend to agree trrime. The Helium 1 venture has always garnered a lot of support and enthusiasm but I have always asked why it is that shareholders believe Helium 1 would fare any better with the Tanzanian authorities over Helium than AEX and others have in the Natural Gas space..... ? They could wait the 10 years that AEX have to commercialise the underlying assets. Though I grant you that Helium prices seemingly do not suffer the same vagaries that Natural Gas does.
I agree and have a feeling the zubs have let us bleed long enough and will make their move sooner rather than later. IMO obviously
Hello trrime. one question please. You state "SOLO are looking to exit Tanzania altogether".
Now I do not necessarily disagree with you but do you also include Helium 1 stake in that statement or just the Ruvuma and Kiliwani holdings?
Unfortunately the promise of a considerable dividend was made by NR and for some time it was my main reason for holding on to these shares. Since then the SP has gone down so much we would need a dividend of about 2/3p per share to make up (fat chance).
I bet the new bod will state that the promise was made before they took over which makes it null and void. Anything to avoid shareholders making money instead of them.
Sounds a feasible outcome.
Weren’t we promised a special dividend.
All the more reason to monetise soon.
Of course it is a buyers market regarding investments at the moment.
On Farmout completion, 75% of the Project is fully funded trough to production and the Full field development of around 8 producing wells. SOLO's 25% becomes more valuable as a result. I also wonder why the Zubairs would not step in to take them over 50% of the project?
At least I can’t be accused of that.
Would have been good but afraid I’m in until mid cap status or at least 50p a share is achieved.
Probably another 8 years at least
A complete disposal of Ruvuma would certainly speed things up.
Yes Steve £40,000,000 and millions of fewer shares. Boy how this company has been destroyed. Just a question of one or two making a quick buck here before rapidly moving on i'm afraid.
Interesting point.
The question is how much would they pay.
The cost of drilling is the same whether we are involved or not. The only difference is that we would not have to pay our share. IMO the board would be very interested at a complete disposal in excess of $50 million.
Sp on the up again today.
Good morning Joe.
Very frustrating at lack of any progress by the new board.
I have been here since the reef days when the company was valued at over 40 million pounds if memory serves me right.
Let’s hope the boards strategy pays off. Mid cap company in under 3 years. I have my doubts.
steve58 agree with that. I am still holding because it’s not worth selling at these prices, but I have been here over 8 years now and we are still not close to monetising in Tanzania
Morning Chris.
One step closer.
Three weeks to get a receipt.
Now passed on to yet another department.
I am very concerned by our own lack of news regarding further investments.
The board did state a few months ago that smaller deals were being looked at.
Annual results due soon. Not sure if they actually have anything to talk about.
Ruvuma Farm-Out Update
Further to recent updates on progress towards completion of the Ruvuma Farm-Out, the Company is pleased to announce that following payment by the Company's subsidiary of the capital gains tax bill, and payment by ARA Petroleum Tanzania Limited ("APT") of the stamp duty bill, the Tanzania Revenue Authority ("TRA") has issued the Tax Clearance Certificate to the Company.
The Tax Clearance Certificate has now been submitted to the Tanzania Petroleum Development Corporation ("TPDC") to be forwarded to the Ministry of Energy. The Company has now completed all the requirements to allow the Minister to grant approval of the assignment of the 50% interest in the Ruvuma PSA to APT, the final remaining condition to completion of the Farm-Out.
Robert Ambrose, Chief Executive of Aminex commented:
"This is a major milestone. With the receipt of the Tax Clearance Certificate from the TRA and with the onward submission to the TPDC, Aminex has now accomplished all of the conditions within our control in order to complete the Ruvuma Farm-Out."
https://www.lse.co.uk/rns/AEX/ruvuma-farm-out-update-6jg4qpddhxz4tx6.html
Would be an interesting play for solo.
Not in Europe however.
Trying to find their market capitalisation no luck.
News tomorrow maybe.
Desert Mountain Energy is a stock that I have in my portfolio, which trades over on the Canadian exchange.
They have a large interest in prospective helium acreage in Arizona, and have just recently announced that they received several drilling permits, so hopefully they can proceed ahead with exploration over the coming days and weeks.
Here are links to company's homepage, plus a recent corporate presentation for further information:
https://desertmountainenergy.com/
https://desertmountainenergy.com/wp-content/uploads/2020/02/DME-Investor-Presentation-02012020.pdf
While I certainly think it's speculative at this point, ...the market cap looks quite low to me, given the opportunity.
I'm mentioning it on here because I know there's some SOLO investors who, like myself, were very interested in the helium prospects, ...and there's so few investable opportunities like this out there.
GLA.
just my opinion
Fingers crossed!!! We’ve all been waiting so long now....it just amazes me how these companies operate...not a bad lifestyle though is it...
That's what Managing Director Ian Stalker says in this interview Woody. I think Froglegs posted it beginning of the month, so old news & nothing on ASX IPO thus far.
https://www.youtube.com/watch?v=B7xA9uEbvBU&feature=youtu.be
Brian, you mentioned in the Aex chat that Helium One was drilling H2? Do you know this personally or just guessing?
Point taken, Tanzania. Enough is enough. :0)
Crusty - mystified why you told me I was waving a Red Rag at a Bull !
You make a good point Sambo.
Crusty, I don’t know why you bother engaging..