Member Info for cperkin

"the powers that be in this country"
UK?

As expected nothing from the SOLO bod on Ntorya & will have to wait to see what drops out of the Gov negotiations next month.

Stated my opinion Frank.

"Typical timeframe of 6 months from identifying opportunities through to delivering"

So 6 months (ish) from start to end. Note the word "Typical" and from identifying to delivering, so depends when they identified the 3 deals that are in negotiation.

Thanks OG, the presentation suggests 6 months from first screen to delivery.

"Typical timeframe of 6 months from identifying opportunities through to delivering"

"Highly active period of screening opportunities (c.20) in line with strategic objectives - taken 5 forward through due diligence and carried 3 into detailed negotiation"

Guess it depends when they identified them and how advanced the negotiations are and will we see more than one deal if 3 are in advanced negotiations?

Thanks AA + others. 5000 boepd in the first deal Ariel, or is that typo? I agree ref the name change, solo oil and all the assets are gas ;)

Looks like Helium-1 will go to the market twice the steve. And the convertible loan notes to solo become executable on IPO.

From the full year report,

"The Company expanded its position in its Helium One during the period to 13.8% including participation in a convertible loan note executable at IPO."

"Highly active period of screening opportunities (c.20) in line with strategic objectives - taken 5 forward through due diligence and carried 3 into detailed negotiation
• Typical timeframe of 6 months from identifying opportunities through to delivering"

So they have screened 20 deals, 5 went through complete DD and 3 are left. If 6 months is "typical" then they should be announcing a deal any day now?

http://www.solooil.co.uk/~/media/Files/S/Solo-Oil/reports-and-presentations/2019/solo-oil-plc-agm-presentation-2019-08-27.pdf

The share is backed by a significant asset with a value far above the current market cap, pending licence. If you believe the licence will be issued then the returns from these levels should be significant. If you are unsure about the licence being delivered then sell/don't buy or wait for the licence or ignore.

To prevent this being a binary bet the BOD have promised to deliver a producing asset through a deal. Like AA I will give them till Dec but will be massively disappointed if delivery is not within the next 8 weeks.

I can't attend so any feed back from those that can will be much appreciated.

Many thanks.

It is Bucks and I agree 100% , the historical lack of transparency regardless of the political situation is pathetic and the real story behind AEX has always been found in RNS's from other companies in Tanzania, finally they haves fest up it seems.

Totally agree, ref the farmout and price as said here many times, they sold out a dill too early and at a price too low.

Regardless it is now the only game in town and the only way (pending licence) that it will get into production. Crusty, I believe Killi is suffering from the same contract/PSA review and expect no material progress till the Farmout is completed post licence.

It shows on the London stock exchange as XOFF trade
https://www.londonstockexchange.com/exchange/prices-and-markets/stocks/summary/company-summary/GB00BF1BK408GBGBXASQ1.html?lang=en

the trade was traded OFF a main exchange - probably over the counter between 2 parties without any exchange participation.

Ex directors have a fair few?

Now where is that 1 code ? ;0)

lols

I predict and RNS next Tuesday, I wonder if we will se a 1 code today ;0)

I am sure I read somewhere an additional 5% or revenues was the bottom line , great for Tanzania and the gov in a run up to an election, but what terms are the majors agreeing in September?

If September is honoured then the bar is about to be set.

Exactly BG, still believe the bod sold out a drill too early, but like you say water under the bridge.

A bit of Paranoia is healthy Bucks and you were quite right in your call down from the top, but you, me or any other poster ever gave a valid reason, no one happened to mention the contract review nor the PSA review.... At the height, they made a great appraisal drill, 12X Gross resources and I certainly expected a back to back drill as did many others.

Bottom line is the assets are much bigger than when I first invested here and the SP much lower, make of it what you will.

Hi Viking, if I remember correctly, Crusty said he will be back in September when there might be something to see.

Suggesting any link between the SP decline and Drewky posting is complete nonsense. The contract terms and PSA review is the cause of the wait and that with KN-1 dying are the reason the SP is where it is. Shame the BOD did not come clean about the contract review and the PSA review when it was announced in parliament.