Member Info for bigdouble

Do a dummy buy and you will see nearly all the reds are buys. Been like that for days now

Quick turnaround, news on the way!

Two massive trades showing up ?

cperkin - would be a good time for the release of some positive news on H1. Could be the dark horse!

Sad to hear she passed last night. Inspirational woman. Very much pray a cure is finally found for this dreadful disease.

Now disappeared

Big trade just shown up

To text 50 soon

Sambo12 - very well put. Maybe some would preferred we just defaulted on Tanzania and had the asset stripped from under us. I think the deal was pretty clever, doubt NR would have negotiated this. We could very well end up with £10 mill for our HH share if the board sell out at the right time.

BDS1 - nothing to comment on today’s deal. Have a word with Kejoglo and come back on the subject

Sudden change, moving north with a more realistic spread

Kejoglo and BDS1, don’t tell me they have the day off lol

Nice to see a change of attitude towards their shareholders. All we need now is the market to catch on.

https://www.brrmedia.co.uk/broadcasts/5b87c117911a506869f4d4db/solo-oil-disposal-of-interest-in-horse-hill

I suppose by buying shares in UKOG we are also buying into their expenditure to date. Tit for tat

Anyone got a figure of the expenditure on HH since we purchased our original stake. This needs to be taken into account when looking at what profit Solo has made. Not just purchase against sale.

No, unless I am very much mistaken they have used the sale proceeds i.e. 4 mill to purchase shares on UKOG at 1.9p

Correct me if I have misread it

Most shareholders were up in arms when we purchased Horse Hill, let alone the further chunk recently. Solo was always about Ruvuma and the massive potential that held. Today’s transaction helps secure our main asset and for once proves concept. We will still massively benefit if HH proves to be commercial. If solo could pull £10 million out of HH that would underpin Ruvuma and give us the time we need to realise the asset at a sensible price. Hopefully Kiliwani will be back producing by the end of the year and that will cover all of our G&A.

Think the new board are shaking things up, about bloody time. GLA

They bought shares in ukog with the sale proceeds. They have therefore removed the cost commitments and retained a non direct interest. Makes total sense

Columbus Energy Resources (CERP LN) has provided an update in relation to the decision made by the Trinidad government to restructure Petrotrin which will involve the closure of the Point-a-Pierre refinery. Transition to a new structure for Petrotrin will begin as early as October 2018 although CERP have indicated that they do not expect any adverse impacts from the decision. We also note that there were no negative impacts to CERP’s operations from the recent earthquake in Venezuela which impacted Trinidad.

The restructuring which includes the phasing out of oil refining and restructuring of the exploration and production operations is part of a major overhaul to return Petrotrin to profitability. Since 2006 production at the refinery has fallen from full capacity of 165kbbls/d by almost half with almost two thirds of output made up from importing crude oil from international markets. This has meant using valuable foreign currency reserves to support the refinery which has now been deemed as unsustainable and a negative long term drag on the wider economy.

CERP has highlighted that currently it receives a discount to WTI of between 4-6% in the current price environment under the production contract between CERP and Petrotrin for Goudron. This is despite the fact that Goudron produces a 38 API product which in the broader market would typically trade at a premium to other Trinidad crude oil. Given that Trinidad will now be selling crude directly into international markets, likely via global traders, this opens up the potential for a renegotiation of pricing. Given Leo Koot’s track record in this regard we believe that CERP would be well placed to benefit in this case.

Furthermore, we believe that the closure of the refinery is likely to be an initial step of a new more commercial strategy at Petrotrin potentially opening up Trinidad which has been underexplored to date.

We reiterate our Buy recommendation and 25p target price