Member Info for cperkin

Current market price for 25% = $20 million. With a licence and the approved drill 3d 2020 work programme then add a little more.

Well that's one hell of a manufactured drop, suggesting that they had built in 60%of the OneDyas deal before it was even ever announced.
$20 million asset on the books
$600,000 owed in back gas payments for which Aminex are meeting the gov soon and seem positive on the results and solo still own 8.4% of the Kili licence + 13% Helium-1

Mcap £6 mill.

Aim Bull!

#ait = wait….sorry

Agree Sambo, unless an upside is built into the current $20 mill valuation. Still they are only just going to open the data room next week and these things normally take many months. All depends on how much longer we ait for that poxy licence.

Apparently solo have had several companies knocking on the door, I wonder if the Zubairs are one? I don't see them letting go for less than the current AEX $20 mill for 25% deal. They should hang on till post C1 imo.

All down to ROI on any investment Page.

I invested here for Ruvuma and after almost 6 months of suspension find we are back to exactly that, Ruvuma.

I imagine the current global covid19 issue is also delaying the Helium-1 IPO, not exactly the best time to come to market!

That $600,000 owed for gas already supplied would come in handy steve. Lets see how Aminex get on with their meeting in Tanzania.

Seems to still be a fair amount of Northsea M&A activity, one companies move from an asset due to it's size and decline can fit another smaller companies short to medium term objectives, price and forecast revenue and opex.

It's all about the price you pay for the asset Page. If they could have secured the OneDyas deal for the right price they would have surely closed the deal. The 2 year forecast for Euro gas is looking very weak, so anyone selling has to expect a low deal price if they need to sell now.

Lets see how Aminex get on with their in country meeting. If they resolve the money owed for gas already delivered, that's around $600,000 cash for solo.

Kiliwani Gas Receivables
"Aminex is in discussion with the Tanzanian government authorities to secure payment of the outstanding receivables owed for gas sales from the Kiliwani North gas field that amount to approximately US$6.7 million (gross) excluding interest. This is finally being progressed after the return of senior government officials who have recognised their obligations and are making efforts to resolve the matter. A meeting has been scheduled and we hope to be in a position to update shareholders soon."

Only 8.4% of the $6.7 mill for solo Crusty, I think Bounty had around 10%?

Apparently they have enough money for the original Ruvuma Budget (not the revised work programme) If they sell it will we see our special dividend?

https://www.proactiveinvestors.co.uk/companies/news/914040/solo-oil-looking-for-another-european-gas-portfolio-after-north-sea-deal-falls-through-914040.html

Looks at least half price to one of the 3 assets TC. 7Mill mcap and £15 mill current offer for asset as per AEX.

Always been about Ruvuma for me.

£7 mill mcap with one asset worth at least £15 mill.

Been here before trrime!

Next stop is the meeting in Tanznia, that money owed for gas supplied would come in handy.

PSA Review and Licence Extension
"Recent media reports, reporting Government sources, give positive indications that the review of PSAs is near completion and that all international oil companies will be duly notified of the outcome shortly."

Kiliwani Gas Receivables
"A meeting has been scheduled and we hope to be in a position to update shareholders soon."

I hope they are meeting about more than just Kiliwani if indeed they will already have the PSA in hand?

40% spread might be taking the p1ss

Right back to where we started, $20 mill for Ruvuma and a mill or two for Helium-1 and Kn-1 so around £15 to £18 mill.

a formal process to explore value realisation options for the assets including, but not limited to, the sale of Solo's interests in the certain, or all, of its Tanzanian assets. In particular, the Board is confident in the inherent value of its 25% interest in the Ruvuma asset and will consider reasonable offers that reflect the quality of the asset and its significant upside potential. A formal dataroom has been established and the Company intends to launch a formal process in the course of the next week 7-10 days. Further updates will be provided as and when appropriate.

Deal has fallen through due to gas price forecast and increased Opex costs and Ruvuma is formally up for sale.

https://www.investegate.co.uk/solo-oil-plc--solo-/rns/transaction-update-and-restoration-of-trading/202003020700066431E/