Member Info for cperkin

Re-list around 10p says Malcy, well that would do me :)

Yes Garvy, solo and all it's assets become Scirocco energy.

Who knows & equally things might go a lot better and they smash their 20,000 boepd target? I agree though certainly a great start.

Solo Oil PLC now a 'significant cash generator' & targeting 20,000 boepd in 5 years

https://www.youtube.com/watch?v=FZTlMhMw6L4&feature=youtu.be

lol BG, the race is on.

Not sure if you have seen this but their thoughts on the Tanzanian assets, including Ruvuma.

https://youtu.be/FZTlMhMw6L4?t=279

They say they are fully funded for the CH-1 drill BG but did not mention any movement, guess they need to see the licence and spud date first?

Don't disagree with that matherdj, just trying to work out what the contribution and gap is. If I am not wrong then Ntorya post ffd (140MMsf/d) is worth about 3 times their current deal or around 6300 boepd @25%?

They do indeed have at least two other deals in advanced stages matherdj but they also say that Ntorya is a primary asset and thus I believe that they are including Ntorya production into their calculations. 20,000 boepd target is not exactly a small number with only 2100 in the bag (potential of 3000 odd for their North sea asset)thus far. Thats a big gap to make up, some 17,000 boepd and personally I believe Ntorya is included in the total.

Provides a bit of balance to some other posters matherdj and a question I have been asking myself.

I think it's interesting that solo have upped their production target from 5,000 boepd to 20,000 boped. I wonder how much Ntorya will be contributing to that number?

Sorry 5 year target!

Well there must be something else behind the scenes to up the 3 year target from 5000 boepd production to 20,000 boepd.

Bit of a hint?

Big news we hope Magicalhat. PS you related to pointy?

Hi Highland, I asked the Bod the same question ref, 1st Jan -19 and £13 million back payment. Here is what I got back.

"Like all transactions with an economic effective date and closing date (at some point in the future) there will be an interim period adjustment taken into account. In this case given that these assets are cash generative, the adjustment will be in favour of Scirocco and in effect reduce the amount due for payment at completion – this is commonly referred to as the net consideration. The actual net adjustment includes not only the backdated revenue but also the costs (opex and capex) associated with the assets – and wells have been drilled. I cannot provide a figure (other than say it is substantially below your estimation) as it depends on various moving parts including the closing date for the transaction but essentially the interim period adjustment is taken into account and reduces the payment due at closing (so is not a cash payment to Scirocco)."

So Scirocco (SOLO) get the £13 million but post costs, drilling etc during and not as a cash payment but against the purchase price.

Bucks are you ignoring everything that the Energy minister and TPDC said last week about Ntorya development at the O&G congress or do you have some links to back up your statements? Happy to post all the ones from the congress again if you like?

As for SOLO the BOD made it very clear on the conference call yesterday that their new producing asset of natural gas at 2,100 boepd will be used to help finance Ntorya development. Good news for both solo and the JV.

Thanks Stonefold. I assume the Bod have run the numbers in some detail and considered the thermal content of the gas + the condensate @ 21 barrels per day 2020 along with the current forecast for European gas price.

With a fair wind we might be able to add KN-1 production to these earnings next year as well.

Sorry, missed the link.

https://youtu.be/FZTlMhMw6L4?t=157

Hi Stonefold, this might help.

Expected nett revenue to solo 2020 = €20 million pa to solo.

Don't forget that the company will open as a producer, Net average production in H1 2019 from the ONE-Dyas Assets was approximately 1,750boepd expected to increase to approximately 2,125boepd in 2020

Take a look at some of our producing peers, start with UKOG, less than 300 bopd mcap £71 million.

https://www.malcysblog.com/2019/10/solo-predator-columbus/