Member Info for cperkin

Jon Fitz bought his first tranche of £590,000 @3.5p before becoming a director. He must believe that it was undervalued at that stage and he certainly has all the experience necessary in the O&G sector to make that judgement.

I do, it's looking a little full though and need to spend a day clearing it up. I guess I missed one from you? Will take a look and sorry.

Thats how I read it, sentiment is rock bottom with no expectation of anything moving till the review with Equinor (formerly statoil) and shell is completed this summer and that is almost certainly is not happening before the longstop date.

I would agree matherdj. I think anyone that wanted out is pretty much gone and only those left who see value and expect a licence to be issued second half remain.

Farmout long stop date, the expectation from most is that this will be extended since it is just an arbitrary date as the farmout is dependent on an extension licence which is dependent on the Gov. completing the contract and PSA review (contract review is now complete) PSA to follow.

Looks like you are the only poster expecting anything in 21 days Bluff.

Hi Caddy, I agree thats exactly what the PSA review is all about, they are building new gas to power plants and have a huge demand curve but want a bigger slice of the pie (5% is a figure I have seen in the Tanzanian press) Once Shell and Equionor etc have completed their negotiations this summer then we will have an idea of the new terms.

Thanks for sharing that link babel, here is some more and importantly the domestic gas demand in Tanzania is expected to grow significantly over the next few years according to Wood Mckenzie.

They are going to need that Ntroya gas and soon imo.

https://mobile.thecitizen.co.tz/news/Renewed-hope-for-liquefied-natural-gas-project/2304482-5190838-format-xhtml-yvmji7z/index.html

Very true jfk9, but all the old BoD and Management team have gone and Jon Fitzpatrick and Alastair Ferguson are now running the show and in their words, "solo is on the cusp of transformation"

They also have 25% of 2 TCF giip and 25% of 763 BCF 2C resources, just waiting on the licence to get going.

Jon F has great credentials and deep pockets.

What a horrible person BD1S, insults with almost every post.

Nasty!

Either or both will be very welcome dsrt :)

More likely to be a farmout negotiated or funding from Jon Fits's Gneiss energy imo, but you never know.

https://www.gneissenergy.com/

Hi Waassat good to talk to you, been a while and hope ur doing fine.
@Solo it has currently collapsed so you could say not a good sign, although personally I think thats more to do with a very long delay due to a Tanzanian PSA review of all O&G companies. They say they are on the cusp of transformation @ SOLO. More to the point Jon F founded & runs Gneiss energy consultancy and negotiates farm out deals and funding, I believe rose are looking for a farmout?
PS HSBC just bought 5% as well and the SP is up 31%

https://www.gneissenergy.com/

Hope all is well, Probably more one for Ariel, but a TR-1 today @ rose and a director @ solo buying up 5% of the company. He did the same just before becoming a director at solo, any chance we will see the same here?

Jon Fitzpatrick now owns 5% of rose

https://www.investegate.co.uk/rose-petroleum-plc/rns/holding-s--in-company/201907101501531322F/

Seems he now owns 5% of that company as well.

https://www.investegate.co.uk/rose-petroleum-plc/rns/holding-s--in-company/201907101501531322F/

Jon Fitzpatrick is a director @ solo and bought a large stake there before becoming a director, he also founded and runs Gneiss Energy consultancy.

For me rxdav the biggest issue is lack of clear communication from the BoD (New and old) on contract and PSA review, many like myself did not realise this was the exact reason for the delay until quite recently & hence the misplaced expectation of Drewky, myself and many others (or chief ramping for the labellers) Now I know the company can not publicly announce anything about Tanzania without prior approval from the Gov. but surely a statement many months ago when the company became aware of the situation is not an unreasonable expectation?

Very positive, congratulations all WEN holders!

rxdav, we all agree on the appalling fall in the SP, no one is denying it. The reason for that fall is the delay and the reason for the delay is due to the Gov, contract and PSA review of all O&G companies in Tanzania. Do you not agree? As it stands the assets that have been discovered and appriased are still there in the ground and so is there value, on award of a licence at least.

Agree with the last part Max, at least it is substance as opposed to, the price will be -A, A, b, C etc depending on how someone is playing up their book.

Seems we all at least agree that it is all down to the Gov defining the new PSA terms before any licence is likely to be issued.