Member Info for cperkin

You only need 30% for an RTO...

https://twitter.com/mgrahamwood/status/1301189381928222720

It has come to my attention that things are not right at Block Energy. News that a rebel shareholder group with north of 20% of the equity has approached the board but has been rebuffed.From what I can see the major holders are yet to engage but I think it would be wise. 1/2

It has come to my attention that things are not right at Block Energy. News that a rebel shareholder group with north of 20% of the equity has approached the board but has been rebuffed.From what I can see the major holders are yet to engage but I think it would be wise. 1/2

https://twitter.com/mgrahamwood/status/1301189381928222720

That's some delusional conclusion to a post of an old video Mirasol, all imo of course.

https://youtu.be/V1_stpqkU7w

I know it's old, but it is funny :)

Well steve, I am sure they will have a jolly "gneiss" time at Gleneagles! At least most shareholders will be glad to see the back of the name "SOLO oil" as we asked them to do back in October 2018.

Almost 2 years just to change the name....

Seems Gas is taking centre stage along with mining in the battle for votes. Maybe we will see some movement before the elections from the current Gov?

https://medium.com/@thabitsenior.jacob/act-wazalendo-2020-manifesto-what-are-their-policies-on-mining-oil-and-gas-energy-and-b038a29f1316

The recent humiliating U-turn in the Barrick deal indicates that the President and his small inner circle are shifting towards pragmatism and retreating from resource nationalism, while the consortium of international oil companies will be hoping for similar compromise and pragmatism from the government. The dillydallying by Tanzania has seen neighboring Mozambique make steady progress, France’s oil giant Total having recently finalized a $16 billion financing plan for the country’s LNG project. The road ahead is very bumpy, as Tanzania looks to join the league of the world’s LNG exporters. The rapidly changing nature of the global LNG market and the number of LNG terminals under construction elsewhere around the world could complicate matters further.
Furthermore, ACT pledges to ensure that natural gas wealth is used to build the ‘gas economy’ and increase economic activity in the country. Another crucial pledge in the manifesto is the promise to increase the use of Mtwara gas to generate electricity from the current rate of below 20% to 60% by 2025 by building gas-fired power stations in the Mtwara and Lindi regions and connecting the electricity thus produced to the national grid.

They are indeed the terms BG, not that there seems to be any great rush to draw down any further funds.....unfortunately. AGM is the 25th of September.

Exactly Jack, SOLO have a 5 million facility available for any C1 related cash calls.

Roll on a significant draw down due to some action!

"Is anyone aware of the logic behind any of the Tanzanian Authorities machinations?! "

That will be a big fat no Crusty ;) God knows what workings go on in Dr Johns and his Cabinets minds...Long given up on any logical explanations.

Just pointing out that the Gov have valued the transaction @ $40 million crusty, do you disagree?

No Crusty, just saying the Tanz Gov will be expecting to get their hands on at least the same amount of tax that AEX had to pay to the Gov who valued the transaction for CGT @ $40 million.

Sorry, $20 mill+ equivalent for 25% of course.

I am sure the Tanz Gov will want the solo transaction to be valued as high as possible, $40 Mill + so they can charge the full CGT that AEX paid...

As already posted, looks like nothing till the Zubair/AEX deal is completed. Encouraging that SOLO believe they can achieve a premium to that deal.

"Aminex's transaction emphasised the significant discount of value currently ascribed to Solo's material interest in this project. The transaction has galvanised Solo's confidence in its ability to divest its interest at a significant premium to the value currently assigned by the market, and the Company's efforts to realise value from this core investment have intensified."

Maybe they are nudging someone to declare?

What was the point of the voting rights RNS, the bod nudging a declarant?

"Aminex announces that the parties to the Ruvuma Farm-Out Agreement have agreed to extend the long stop date for satisfaction of the conditions to the Farm-Out from 31 August 2020 to 30 September 2020. Aminex and ARA Petroleum Tanzania Limited ("APT") continue to work closely with the Tanzanian Government to obtain approval for the Farm-Out."

A short Longstop this time.

GLA

A short Long is better than a long long and better today than Tuesday.

GL & Enjoy the long weekend.

Last time I post this, boring and repetitive.

The BOD have run out of road other than waiting on the Tanzanian Gov to award and sanction the FO, they spent millions and delivered nothing but costs thus far.

AEX looking a little perky today.

GL