Member Info for cperkin

Looking forward to the next drill and the deeper Jurassic target.

The search for oil continues whilst appraising the already discovered gas.

http://237880a850b57f720dfd-816ef7f212e42c7f99df6030f7ad3efa.r22.cf1.rackcdn.com/FP%2023.02.2017%20Mike%20Rego_Rego%20Exploration%20Ltd.m4v

Certainly about time the Tanz Gov put the "open for business flag" back up, everything O&G has stalled in country and investment has fallen sharply as a result.

Majors to conclude terms this month.

Oh well just in case, thanks to Drewky.

https://aminexunofficial.blogspot.com/2017/11/mike-rego-finding-east-southern-african.html

https://aminexunofficial.blogspot.com/search?q=mike+rego

Don't mention west and updip or the creation of the rift & the resulting Karoo source rock topology Aimster.

I don't suppose many have the propensity to bother reading and listening to Mike Rego.

Nothing like living life on the edge AA ;0)

Surprise AA, Weird or what!

Agree John, $20 million equates to £16 million (moving target with exchange rates) for the Ruvuma asset only, add H-1 and cash as it stands today.

Nobody?

Last reported cash position was £3 million and they have reduced costs significantly by about a 3rd from the old BOD days. The Primary asset is worth around $20 million so the 2.25p is about covered by that value alone. I agree though Neil, the BOD need to deliver on their promise and a deal or deal that provides producing assets and value.

2.25p Thats simply the last placing price so I don't see why not and it would still be significantly below NAV anyway?

The structure of the deals with Three60 and NRG look interesting, a sign of the type of deals for producing assets the bod have promised to deliver?

https://www.proactiveinvestors.co.uk/companies/news/902451/solo-oil-teams-up-with-three60-and-nrg-to-cut-boost-operations-capacity-902451.html

Nothing wrong with being cautious Woody, first thing I did was hit the links in the RNS and check the BOD out. Solid track record and no links to NR and to be Frank a very different skill set.

https://nrgwellmanagement.com/about-us/

We playing guess the price again? I will start with current asset nav then, 3 to 3.5p

Gl

Agree steve, preparation to hit the ground running on a deal closure. The BOD said typically 6 months from start to deal close, that would take us to around the end of this month, give or take a few weeks.

2016
Decisions are still awaited from the Nigerian government on the the Marginal Field licenses

Says it all. Africa is high risk but high potential reward, seems Tanzania was a far better choice despite the delays....

Solo Oil
Solo has announced the disposal of its Burj investment to a partner for a nominal £1 which means that the company relinquishes any future costs associated with the project. Executive Chairman Alastair Ferguson stated that ‘it may be a nominal consideration but the symbolic relevance is material’. For shareholders it is important that the board continue to rationalise the portfolio through divestment of all non-core assets and to ‘focus our attention on building the company going forward around cash flow from high quality assets in low-risk jurisdictions’.
I have said before that Solo is now being run by a high quality team of oil industry executives who are determined to change the company in many ways. I know that they are particularly keen to make acquisitions as well as disposals and I’m sure that these will occur before long.

https://www.malcysblog.com/

Or is it only 10?

http://tanzaniapetroleum.com/2019/09/10/top-10-oil-and-gas-companies-to-work-with-in-tanzania-and-sub-saharan-africa/

Hi Alfie, indeed the old BOD, NR & Co made some investment blunders in the past, thankfully way before I ever heard of SOLO oil and NR. Not sure what the very long term holders could ever do about it, was adequate DD done? what was the Oil price at the time when they were bought? As NeilHannon points out, high risk countries come with high risks especially when the political situation changes.
GL hope the new BOD help you recover.

Cost avoidance - job done providing the transaction is closed of course.

Bod deal and licence is what we need to see.

With a fair wind then long before Aimster & lets see what the bod's first deal yields.

Agree Aimster, I still stick with you have undervalued Ruvuma once the licence is issued and 3 to 3.5p would be fair value.