Member Info for cperkin

https://www.malcysblog.com/2020/06/oil-price-sound-echo-solodgo-jadestone-and-finally/

Very true Crusty, but they will be invoiced for most of the drilling post drill, so there is only the upfront costs required is my understanding. 25% of the drill was estimated at around $3 million I believe.

Hi steve, the $5 mill is enough for the drill and any 2020 expenditure on the extended budget is my guess. Yep 2 years of Government delays due to contract and PSA reviews, unbelievable!

Extension or deal finally over the line? Certainly leaving it till the last minute this time!

AEX RNS, Farmout completion or longstop extension?

Do they need some of the $5million facility for this?

GL

Now solo have funding for the drill and immediate works, FO completion or Longstop extension?

Opinion from an AEX poster...

"I think that the Zubs will have wanted Solo's share but don't want to pay what Solo are asking, Solo don't want to give it away and subsequently arranged funding. Now the cards are on the table Solo will stay until they achieve a reasonable offer and the price may well increase if CH1 is a success. This now puts the Zubs in a situation where do they buy Solo's share now, or pay a much higher price later on, either way its a thorn in their side! I still think that long term they want the lot and I might as well wait to see. GLA"

Seems they are prepared to drill....
https://www.londonstockexchange.com/news-article/SOLO/us-5-000-000-investment-facility/14594284

Protects the asset during the sale process like you say Crusty, fire sale not required. Just need something juicy from AEX today or tomorrow such as FO approval.

https://www.londonstockexchange.com/news-article/SOLO/strategy-corporate-and-operations-update/14594426

investment facility for up to US$5,000,000...funds for Ruvuma.

https://www.londonstockexchange.com/news-article/SOLO/us-5-000-000-investment-facility/14594284

Indeed they don't just like solo don't have the money to buy a producing asset but still plan to as far as we know. The others on the list all have the cash though.

There is that, what a shocker that would be!

Farmout withdrawn
Farmout longstop extension
Additional M&A activity linked to the farmout.

Don't see the rush over Nyuni unless the export gas pipeline to Uganda starts getting built. Ruvuma looks like it has plenty of gas for Domestic demand near term unless they are thinking LNG.

Could well be yet another AEX/Zubair extension of course or conclusion to who will own what of the gas field. I was just thinking of companies that might be interested in solo's 25%

The Zubair corporation
Aminex
Orca
Wentworth resources

Any other likely contenders?

Well, guess we find out by end of play Tuesday at the latest, not sure confident in any TZ Gov timescale outcome has ever been possible.

Nelly, I get what you mean, but surely they could only issue an RNS if they have information from the Energy minister to confirm he won't sign it by the 30th?

No RNS suggest they do not have that information

Looks already baked in to me frank & certainly going down to the wire with the com's this time.

Don't say it Bid 0.95, last sale 1.022 last trade 1.074

Bull!

Easy money...….

Morning steve, 30th is the longstop, so next Tuesday....I am guessing another extension but happy to be wrong.