Member Info for cperkin

Depends on what stage we are at and conditions of any full or part sale I suppose steve. If any buyer wants to wait for the 25 year development licence then solo will need to drill the next well, which has the potential to add very significant value to the asset.

Meanwhile and whilst we wait for the FO to complete (official signatures and hand over to the Zubairs) and a spud date for C-1, there will be plenty of Hokey Cokey and playing around.

Well said AA, without NR the discovery would never have been made.

75% of the project funded to production and probably full field development and all 8 wells, the value of solo's 25% of the project went up, that's for sure.

Carry to production and probably Full field development looking very attractive now.

They already have a loan available for at least drill costs+
29 June 2020
"Solo Oil plc has entered into an investment facility for up to US$5,000,000 with Prolific Basins LLC, a specialist investor; "

https://www.lse.co.uk/rns/SOLO/us5000000-investment-facility-qnmntcw5iqpwixa.html

I expect the asset will likely be worth a lot more post drill.

Got to be worth a lot more now the project is confirmed as 75% funded....

Nice & fat high offers now the development is 75% funded StoneFold ;)

The Ruvuma asset just shot up in value with it now 75% financed to production and probably full field development @ $40 million earnings pa @ 25% holding

Well done AA, Exactly what I invested for...Ruvuma! Bring on that spud date + details from the BOD on;
"The Company has made significant progress on its Tanzanian asset sales process and extracting maximum value from the Ruvuma asset, which is key to delivering our broader strategy. The Company continues to await the completion of the Aminex / ARA Petroleum farmout ahead of the expected conclusion of its own process;"

Bring on the Spud date!

https://twitter.com/cperkin99/status/1315641586391429123/photo/1

Yes Vike, massive for a little £9 mill mcap company...

Hi steve, lets see what progress the BOD have made in the sale of Ruvuma, time to start guessing $$$$$

Great news for holders....at last!!!

Congratulations all

Excellent and now we can see what solo's 25% is worth!

Too busy raising £12 million for Angus shareholders to pay back with interest ;0)

Might be worth reading the complete note from Jim as he goes onto say;

"If you want to gamble (and that’s all it is) on the outcome of the drill, Union Jack probably is the better bet. RBD owns a greater percentage, but UJO has the audience needed."

https://twitter.com/Oilman_Jim/status/1315224210843656192

Well in the words of burning, the "curcus" continues this week till maybe Thursday and then either FO or probably more further waiting till post election...

The guess work will probably continue till at least the 15th and maybe even beyond, depending on the result.

"have the right to terminate the Farm-Out Agreement."

Maybe they will and maybe they won't get the FO by the 15th and maybe they will and maybe they won't "terminate" on the 15th

What a saga either way.

The article is refering to the huge $30 Billion LNG project and the HGA signing, not saying the gov will not have the same stance towards AEX and Zubair deal, however the project scales are completely different.

"Rest assured the Board has contingency plans that will be outlined to market in the event that they need to be activated."

Buy Aminex out, mcap =£15 million and will be at least half if no deal ;0)