Member Info for cperkin

Always freeze it, it extends the longstop considerably NM ;)

It will be ok RoJo, I baked 3 large loaves last night, so only the chicken to worry about.

Unlikely I would say matherdj, they clearly love the asset and with forecast gas sales from Ruvuma running into the $ Billions of revenue over the asset lifetime and at such a gift of a price, why would they not hang on a little longer after waiting so long.

RNS by the 30th.

Hi vike, hope you are keeping well.

I think along with a few other posters that the "update" they said they are working on and is "outside of their control" is probably the Ruvuma farmout. AEX due to announce the status by next Tuesday, so lets see where we go from there.

PS share your disappointment and frustration and G&A better be @ an absolute minimum!

They can only be referring to the original "firm budget" is my guess BG. The one that stands till the AEX/Zubair farmout is completed and they can progress on the 3D and drill.

"The firm approved budget for 2020 is US$1.447 million (gross), principally relating to licence maintenance and planning activity."
They certainly do not have $10 mill for 3D and drilling as per below

The Operator has previously announced an estimate of $40m for the work programme, which would imply an expenditure amount US$10 million for Solo's 25% interest over the work programme period, which will extend into 2021. The JV partners are evaluating the cost of the work programme in light of current market conditions and expect the near-term programme to be delivered at significant savings to previous estimates. The Company further notes that the Operator has already performed many pre-drilling and pre-seismic technical planning and contractual acquisition activities.

We have completed the Krendre Electricity Generating Project ll which has added Mw 240 and we are also nearing completion of the Kinyerezi I project which will generate Mw 325 from Mw 150.

https://twitter.com/tanescoyetu/status/1275739568159981568

All the best.

In the mean time whilst the Gov dither about gas development, they have at least got power generation capacity downstream built and ready....

"We have completed the Krendre Electricity Generating Project ll which has added Mw 240 and we are also nearing completion of the Kinyerezi I project which will generate Mw 325 from Mw 150."

https://twitter.com/tanescoyetu/status/1275739568159981568

We have completed the Krendre Electricity Generating Project ll which has added Mw 240 and we are also nearing completion of the Kinyerezi I project which will generate Mw 325 from Mw 150.

https://twitter.com/tanescoyetu/status/1275739568159981568

I don't disagree and both have the same risk till either,

A) The AEX farmout is signed off or
B) The Zubairs extend the longstop....again!

Few more days and we will see what we have or have not got.

It's exactly the same script as AEX Crusty. Lets see what we get from their update by the 30th June, it's only days away.

More of the same TZ.Gov no doubt.

Morning Steve, if only the update was as clear as the weather!

Tick up overdue.

Thanks

I think there point being that there is no demand above the base forecast till the AEX farmout is complete. I also expect they will be selling part or more probably all of their 25% soon after any completion.

Depends I suppose on the conditions and elements Crusty, no deal on the table till AEX/Zubairs complete? Anyway all guess work as we are living on a Mushroom farm based on todays Corporate "non-update!"

I expect any possible solo deal is waiting on the AEX/Zubair farmout completion as a condition?

I will be surprised if they keep any of the 25% Crusty.

Tick up due...

+1 OG

Thanks BD, my conclusion also. Very strange timing bearing in mind the AEX/Zubair longstop date is the 30th June, so 3 working days away, I would have thought they would coincide with the AEX RNS to come?

It's a holding RNS, whilst they wait on the farmout by the looks of it. AEX only have days till the longstop date so their turn next.

Not really much of an update Joe and certainly not one that has taken the last few weeks to compile, there is something else in the background here imo.

Only points to note,

Name change post AGM
Fully funded till Q-1 2021

Nothing else of any worth.