Member Info for cperkin

Like a few others, I would have preferred the licence pre suspension matherdj, still depends on the OO price and if Ruvuma + the new producing assets are reflected.

Next drill is something a little bit special with 2 Geological targets, the appraisal of the Cretaceous and exploration of the Jurassic and the potential for more significant gas ~1TCF or maybe even oil as per the EAOG presentation.

Need the licence first of course.

Got to say AA, very happy with my average at a £15 million market cap close

2016 oh yes I remember that Normal guy you mean the last spud December 16 and the SP went up over 500% the numpties eh?

Says a poster on the AEX board. Now I know this is rumour stuff, but the same guy was 100% spot on about the drill last time round so has previous & proven. Lets see.

Exciting, lets see what Monday brings?

AA heading to the dark side ;)

Is a copy of the licence attached to the rig and the rig on the pad? Not sure how good that satellite resolution is ;)

Good question!

As per usual I have no idea what he is talking about Bigpat, so please don't drag me into his "paid for research" saga.

What on earth are you on about now Jones, in one breath you say you had good news yesterday but won't share because it's paid for research and then you say I am the one to ask. If that is indeed the case which it is not, where is my payment then?

A bit of weekend FOMO?

Anybody investing so much time in a share BB can only be doing so to make money as they alternative is somewhat disturbing.

Well you are the second person to tell me that today opposite.

Topcat you say" in an ideal world this deal gives us revenue to advance/progress Tanz - yes i understand that. the reality is we will have to fund our share of Tanz before we earn the equivalent revenue from this deal - meaning our only option will be to dilute."

This is completely wrong and exactly my point about your misunderstanding. They are already earning since 1st Jan 2019 (backdated on closure of he deal) with ongoing monthly earnings from production. Monthly Nett earnings will be around 1.7 million per month. The next well is 3 million and solo already have this money.

Topcat, the whole point of this deal is to produce income, cash, earning to fund further development of the current assets including Tanzania, so I don't think you do get it.

We will have to agree to disagree and wait for the OO + the resolution of the licence in Tanzania that seems to be moving forward at last.

We will know in a few weeks.

Philo/Topcat. I don't disagree regarding KN-1 and the remedial work and the old aex CEO to be quite frank fed shareholders a load of bull. It seems clear now that no effective remedial work has been or will be completed on KN-1 till the PSA terms are confirmed and the resolution of the $7.6 Million owed to the JV for historical gas sales is settled. By the way, solo are owed their 8.x % of that.

Topcat I don't think you do get it.

This is a producing asset with current income and backdated to the first of Jan 2019. Earnings 2020 nett after costs = €20,000,000 to the company with total assets with an NPV10 of over $100 million. This is nothing like an old NR deal and pure exploration play, it's producing with a forward plan to increase those production revenues.

€20 million income is significant, consider the PE ratio for an O&G company.

I don't disagree with that Topcat, however without a licence in place there can be no effective monetisation of Ruvuma and certainly not one that would provide value to shareholders.

I think the BOD have been extremely clever by protecting the Tanzanian assets whilst transforming the company into a profitable production company. SOLO or rather Scirocco will be earning more from gas sales than Aminex ever did per year and I used to refer to Aminex as the big brother here.

They should have a little FAQ section on the BB OG ;)