Member Info for cperkin

Unlocks the asset for drilling and development. I don't expect we will wait long for the below, they have had plenty of time to prepare and will want to get the drill underway whilst the licence is in place.

"APT, as the new operator of the Ruvuma PSA, intends to call an Operating Committee Meeting (OCM) shortly, where it is expected that they will formally present their programme and schedule for the drilling of the Chikumbi-1 well and the 3D seismic acquisition programme."

Obviously Chris, we need the below first from todays RNS

APT, as the new operator of the Ruvuma PSA, intends to call an Operating Committee Meeting (OCM) shortly, where it is expected that they will formally present their programme and schedule for the drilling of the Chikumbi-1 well and the 3D seismic acquisition programme.

Then we can get a spud date, I expect the zubairs to move quickly.

Lets see how quickly they move this onto drilling the first of 6 wells and what impact the SOLO launch of Scirocco energy on the 2nd November reveals.

GL

Exactly BD, the AEX/ZUBAIR deal was priced to only recover the money spent on Exploration, now the project is 75% funded to a tune of $105 million the value just increased.

I expect a better deal here.

How long before we see the cards on the table from any "interested parties" Expect in excess of $20 million now the project is $105 million funded to production.

Waiting for AEX and the Zubairs to complete. Makes you wonder how long the BOD will be in progressing any SCIR/ Ruvuma deal and will it be pre or post C1?

As expected, will SCIR/formally SOLO reveal their hand regarding the sale of Ruvuma on the 2nd November?

"To reflect the name change, the Company will be hosting a webcast forum for shareholders to coincide with the launch of the new website (www.SciroccoEnergy.com) on 02 November 2020 at 11am GMT. The webcast will provide an update on the Company's plans and activities"

Will the 2nd November reveal the Ruvuma plans/sale?

Solo Oil (AIM: SOLO), the AIM investing Company targeting attractive production and development opportunities within the European energy market, is pleased to announce that the Registrar of Companies has officially confirmed the change of name to Scirocco Energy PLC with the Company trading under the new Ticker, AIM: SCIR from 08:00 am today.

To reflect the name change, the Company will be hosting a webcast forum for shareholders to coincide with the launch of the new website (www.SciroccoEnergy.com) on 02 November 2020 at 11am GMT. The webcast will provide an update on the Company's plans and activities and will include an open Q&A session. Shareholders will be able to submit questions before the webcast by emailing Scirocco@buchanan.uk.com. Shareholders wishing to participate in the live Q&A can request the dial in details from the same email address.

Webcast Details

Live link - https://webcasting.buchanan.uk.com/broadcast/5f8eb6b0c4d0076f2b9424e6

Good morning, new home.

Yes Crusty, the main difference being that solo are prepared to fund up the next step of development whilst they wait for an appropriate offer that values an asset that's 75% funded to production and probably an 8 well development gas export project, whilst not being influenced by a 30% holding by the Zubairs, who now seemingly both own over 50% of the Ruvuma asset and run Aminex.

Is the asset not worth more post farm-out and 75% funding than before?

Considering the "binding agreement"

25% of 2 TCF GIIP and 756 BCF 2C 75% funded to production and probably full field development.
Any mug with less than 10 minutes research knows it's worth a lot more than the current mcap of £13 mill, when 25% just sold for $20 million and before the 75% funding.

Expect lots of noise from all that see it and the price.

GL

The positive takeaways for me, even if most not new.

Ruvuma, group of perspective buyers with a number of parties reviewed data & talks restarting now the FO has been approved. SOLO willing to fund through debt if no offer at the right price.
Ruvuma value considerably in excess of current market cap, no surprise there.
Helium-1 IPO looks like it will be soon with drilling next year (will it actually happen this time?)

GLA

After the next RNS and at a much higher price ;0)

Group of perspective buyers with a number of parties reviewed data.

https://youtu.be/RbLjN5PvX7c?t=313

Thanks Jack.

https://t.co/sDjTADnX7F?amp=1

Apparently the BOD have just woken up under the Board room table, surrounded by a plethora of very empty Champagne bottles as if only a day has passed...

I expect post last PSA negotiations that they will have lost at least 5% gross from that figure, depends on export volumes and price though I guess?

Lawyer's shuffling paper and making a packet is a more likely a scenario imo, if they had wanted to walk, they could have done anytime in the last 2 years.

Really trrime, after waiting years and finally getting Government approval you think the Zubairs are going to walk @ the last minute?

I think not.