Member Info for astonvillatrader

Great post, you’re best yet. And the irony of Perkins responding to it 20 minutes later is the icing on the cake :-)

6p Vegas party was always shouted around these parts. 5 years on many, LTHs would be lucky would be lucky to get a weekend in Wolverhampton!

Spot on TC. SOLO still flattering to deceive. Nothing new. Still waiting on operator/TPDC... looking at new opportunities... no income.. looking to farm down Ruvuma blah blah blah... been the same for years... market still not interested

Bottom draw

Anglo African Oil & Gas
AAOG have announced that the TLP-103c well at the Tilapia field in the Republic of Congo encountered hydrocarbons in the Djeno horizon. Wireline logging confirms a 12m oil column making 56m across the total identified horizons and the company are confident of further Djeno reservoir below this discovery prognosed to be in sandstone. These sands will be tested by the TLP-104 well due to the poor performance of the current rig and the condition of the topside facilities and therefore be some time off.

There is little doubt that this is a good news bad news type of discovery, undoubtedly the potential of the Djeno is good news especially if the deeper sandstone is found in large quantities with the next well. Also good news is that the current rig seems to be able to be a producer from the Mengo and shallower sands which should bring in cash flow in the shorter term. The bad news is that because of the state of the equipment, the Djeno can’t be tested or produced now and that the company do not have the cash resources at present for the topside upgrade or the new rig. That means only one thing, further recourse to shareholders whom they have only recently touched for £6m at around today’s price and probably to the tune of twice or more what they raised before. Patient shareholders will be pleased that a discovery has been made but will have to dig deep again before long but at least the well, eventually, came in…

Ruvuma is a fabulous asset. World class. Unfortunately the SOLO business model is a big pile of steaming dog turd

If it wasn’t for BigDouble, SOLO would be in a much worse state (imagine that!). NR would still be here and SOLO would have acquired the 2nd tranche of Helium 1. He doesn’t ramp & has always been very critical of the BOD. But I understand your frustrations with Ant and Dec, who spend their whole lives ramping SOLO on here & twitter. The share price speaks for itself. Investors have lost thousands the last 20 months

I hope you enjoy delays, dilution & news blackouts!

Absolutely agree. Some shocking ramping

While disposal of HH or IOW is understandable, they have not been a success, whatsoever.

Perkins, given the Aminex deal, geopolitical factors, the ruthlessness of the Zubairs & the lack of potential interested parties do you, hand on heart, feel SOLO will get fair market value for their Tanzania assets when they seek to dispose?

Right thing to do. Ritson & Lenigas accrued so much sh*t that the current BOD have no choice. However, given the snails rate of progress, I’m sure they are uncomfortable with being so exposed in Tanzania

It hit £250 million due to a huge discovery, not because of “one well producing very little”

36% drop from last placing price. Ouch. I predict another placing in Q1/Q2 2019, but for how much & at what price? New board will want to pursue new interests/assets at some point & will look to the market to raise funds IMHO

“But I am sure you will still be going on about NR even though he left 6 months before :0)”

No CH1 spud date, KN1 not fixed, 30% drop in share price, no income, zero news on helium1 ... it’s like he never left!

Put the glue down reaction

GSA was the same. Waited over a year. Ended up a red day!

Even folk who bought at the last placing are nearly 25% down. Where is the bottom? Will SOLO place again if they can’t monetise key assets?

CH1 spud date needs announcing, ASAP

Nah Perkins. Dan Maling very much part of the old guard. 27 months at the company. Check the 2017 accounts. £240k via the Ritson gravy train. While (maybe) the best of a bad bunch, to suggest the old guard have left is a bit deceptive. Also disagree regarding HH. Due to costs, time and salaries spent on the asset, it’s been a huge disappointment. Fully agree Ruvuma is world class. Shame the licence holders & TPDC have been shambolic

It’s ALL about the CH1 drill from here.

Click SOLO LIVE RNS, find the 29th June. Click Annual Report & Accounts. It’s all there. That’s the reality. £240k In 2017 via the Ritson gravy train. While probably being the best of a bad bunch, he’s certainly part of the old guard and had his hand in the till while he went full steam ahead with the Helium 1 nonsense

Nah. 27 months is a significant period. Bought in by Ritson and took a shed load out the company in salary in 2017. Nice try

It’s not. Dan Maling was part of the old clique