Member Info for cperkin

https://www.brrmedia.co.uk/broadcasts/5d9c5b6ef8cc7162f3b034e4/scirocco-energy-acquisition

Thanks Mikha, perfectly summarised and as I heard it on the call.

Remember the seller will still be holding an interest in and be the operator of several of the licence fields.

Anyone wanting a piece of Ruvuma will have to go AEX.

And I thought the 5000 boepd was something special, 20,000 in 5 years and I do believe that this Bod will deliver it.

All good here.

Pretty clear, € 20 million revenue Nett per year from existing production with a further €60 million NPV10 2C for development.

http://www.solooil.co.uk/~/media/Files/S/Solo-Oil/reports-and-presentations/2019/scirocco-energy-acquisition-presentation.pdf

Hi safe, the company will re-list as a much larger company, we need to see the AIM admission document, for now maybe join the conference call if you can.

"A presentation for investors will be uploaded on the website and the management team will be hosting a conference call at 9:00 a.m. today. Please contact solo@buchanan.uk.com for the dial-in-details."

I would not disagree with that JS, but there again for a company with a £15 mill market cap, the production rates and upside looks kinda nice.

Thanks Mousey, been a bit tense at times :)

Sure does and validates the Bods disposal logic.

Solo's pro-forma net 2P reserves at 1 January 2019 are expected to increase by 3.6mmboe Associated net 2P NPV10 of c.€40 million (pre-tax)
o Net average production in H1 2019 from the ONE-Dyas Assets was approximately 1,750boepd expected to increase to approximately 2,125boepd in 2020

· Significant development upside within each core area
o Incremental 2C resources of 7.5mmboe at 1 January 2019
§ Associated net 2P + 2C NPV10 of c.€99 million (pre-tax)
o Near field resources and proximity to existing infrastructure
o Well defined work programme to convert 2C to producing 2P reserves
o Potential for production increase to over 3,300boepd by 2022

Looks like the new bod have delivered then! I am worried that we see the Ruvuma licence whilst suspended, but hey ho.

Don't disagree Crusty, the filter is very useful for filtering out non content posters either way.

At least I can understand some initial over excitement about something actualy happening to the primary asset since the 2017 drill results. Yes, still to be proven by actions , but the message & language from the Tanzanian Government has certainly changed this last few weeks as did the RNS regarding drill preparations from AEX/ARA

Stick the list up Frank.

+1 Alfie

AlfieNoodle
Posts: 571
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RE: SOME OF YOU FOLLOW THIS MORE EXTENSIVELY THAN ME ????
Today 10:07
Use your filter pal - save you a lot of time and heartache ...

Clean up is around complete & out with the old, where is the in with the new?

Sounds like you are trying to convince yourself Bucks ;) could be a ressuraection, a bit like the flight of the Phoenix.

I don't disagree Bucks and well done on your profit. I do think the probabilities of a licence being issued have risen significantly the last few days with the Energy ministers comments though.

Christmas spud would be a dream come true for holders Crusty, little issue about a licence and a rig to be overcome first. Not impossible, question is how probable?

No underway are the words he used Crusty. Still very encouraging!

@ivans Post AEX farmout with ARA a division of the Zubair corp, SOLO and AEX will both hold 25% each and ARA the other 50%