Member Info for cperkin

Quite agree, it's PR and there has been a lot since around mid this month after years of nothing. My interpretation is that they are finally gearing up for an IPO/RTO so yes a guess based on what I am seeing.

GL

Thanks HY, so the conclusion is that nothing is happening here then if the BOD do not look outside of their current 32% investment in Mbay.

Don't get me wrong and I have said many times before, WEN are in a good position in terms of cash flow, just there is nothing for the market to get excited about. I have seen endless calculations from people on what a small cap company is worth, but in the market place it all means very little at all, it's all about sentiment. So I stand by my point which is that AEX is likely to offer a much higher return in the short term than WEN due mainly to activity and the market interest and sentiment that it brings and no doubt people here will be shouting endlessly at how over valued the AEX SP will become.

The market is the market at the end of the day.

GL

That IPO (RTO) might not be far behind.

https://total-market-solutions.com/2020/10/29/helium-one/

0.35 to 2.675 not surprised it dropped a bit after. Next leg up coming by the looks of things, asset backed, similar rise?

;)

Too early for a deal imo Oilupdip, If there are any takers then a spud date should warm them up however.
The total cost to SCIR for 3D + the CH-1 drill is 5.1 Million coincidently around the same as the current Debt facility...

I expect it will be worth bucket loads more post drill, and before any further work and cash call over the licence area as I don't see them progressing beyond the current agreed work programme till post 25 year development licence and then the value is many multiples of today.

Sweet spot there somewhere.

west and up-dip of course in this case.

KN south probably looks to be a more favourable investment target to feed songa.

Under the conditions of the current licence steve,

Acquire 200 square kilometres (surface coverage) of 3D seismic (min. expenditure of US$7 million)

· Drill the Chikumbi-1 exploration well (min. expenditure of US$15 million)

· Complete the negotiation of the Gas Terms for the Ruvuma PSA with the Tanzania Petroleum Development Corporation

· Using the data gathered from Chikumbi-1 and the seismic acquisition, prepare and submit an application for a Development Licence for the Ntorya Location area.

So a new application based on what they find @ C-1 more gas or + oil?

I honestly don't see the BOD securing a great deal steve, they should secure one at least over double the current mcap, but a 25 year development licence is needed to hit the sort of numbers that NR once talked about and the $100 million + valuation

Different ball game, been a second drill since then, over a 10 times increase in resources and now 75% funded to production with a competent operator owning 50% of the asset.

Chalk and cheese.

lol steve, that's some huge leap to a conclusion, nothing much being traded volume is tiny and of course a complete contradiction to,

"We have identified a list of companies who would be a good fit for the asset and earlier in the year they carried out initial technical and commercial due diligence. There has been a hiatus whilst we have been waiting to see what happened with the Government approvals for the Aminex-ARA deal, and we are just at the point of re-engaging with that community of prospective buyers over the coming weeks."

Afternoon steve, they have secured a debt facility to cover the money they wasted ;0)

Its in the EGM circular Dunder, the one shareholders voted on.

Pursuant to the Transaction, APT will carry Aminex for its share of development costs in respect of the
Ntorya area up to US$35 million. Should the development of the Ntorya area not require APT to deploy
capital on Aminex’s behalf representing the full US$35 million, APT is required to make up the
uninvested balance by paying cash to Ndovu from a proportion of APT’s share of any future gas sales
from the Ntorya Field. In addition, Aminex will receive a Cash Consideration at Completion of US$5
million, with US$3 million payable on Completion and US$2 million payable 180 days thereafter.

Find out on Monday joel.

Shareholders need to see the BOD are progressing on both Ruvuma and Helium-one...

1.0 A spud date for the C-1 drill
2.0 An update on the sale process of the Ruvuma asset.
3.0 Helium-One Global - IPO (RTO?)
4.0 A deal post 2 above

1.0 A spud date for the C-1 drill
2.0 An update on the sale process of the Ruvuma asset.
3.0 Helium-One Global - IPO (RTO?)
4.0 A deal post 2 above

"We have identified a list of companies who would be a good fit for the asset and earlier in the year they carried out initial technical and commercial due diligence. There has been a hiatus whilst we have been waiting to see what happened with the Government approvals for the Aminex-ARA deal, and we are just at the point of re-engaging with that community of prospective buyers over the coming weeks.

"Despite how busy everything has been we have remained close to the market and have been testing potential opportunities and we continue to be active in that process. What's important is we have broadened the target criteria to include assets within the wider energy complex so that Solo remains relevant as Europe goes through the energy transition. So not just gas production but assets which include power generation and infrastructure within the energy complex.

"The market seems to be open for those raising capital, and we'd be open to a combination of capital and debt, particularly if we were looking to acquire cash generative assets. The priority is always to look for sources of non-dilutive capital. Seller finance would be one such option."

https://www.lse.co.uk/media/solo-ceo-re-engaging-with-prospective-tanzania-gas-stake-buyers-in-the-coming-weeks-solo.html

Sorry having trouble with this magnificent web site and it's cache....

Indeed Chris, if they had anything material to update, it would have to be done by RNS just prior.

Clarity on their intent with regards to Ruvuma and estimated timescales + Helium-1 IPO progress will do.

Agreed Chris, they would have to RNS prior if they had anything material to say.

The potential buyers are an unknown to us Crusty, they are the words the BOD are using in the interview and RNS "several interested parties" This could all of course be negotiating brinkmanship. The value for me is hard to pin down, is it worth more than the AEX deal now it's 75% funded to production and with a competent operator? I believe so, what that number comes down to I honestly don't know but my expectation would be north of the $20 million per 25% that AEX secured.

Over to the BOD