Member Info for cperkin

"The Company has been assured by relevant government authorities that the extension is forthcoming and will update the markets once formalised."

Just a mater of time imo.

Unsubstantiated misleading non evidence based Jackanory again imo Kej

But I do agree it's a very valuable asset and others are interested and not just the Zubairs and I think the floor was set by Jon fitz @ 3.5p with his first £590,000 investment myself and just as a reminder as per the last RNS, of course the next drill will likely add substantially more value above the current $20 million valuation.

Ruvuma

"In the meantime, the Company continues to engage in non-exclusive discussions with various parties on the sale or farmout of the Company's interest and will provide further updates to shareholders if and when there are further developments."

Have fun!

It is there asset, it's their nation and their gas jamtart and they do want to make sure that they receive the benefits for their nation and quite right as well.

I think the delay is more of a case of the Tanz gov running around in circles trying to reach the right balance, only earlier this week they amended a whole section of the mining act that they had only implemented in 2018

Now they have reversed the section because it is putting off western investment.

https://www.theeastafrican.co.ke/business/Tanzania-relaxes-protectionist-regulations-in-mining-sector/2560-5019246-teggptz/index.html


As for money, solo have around £7 million so could keep the lights on for 7 years @ current spend, hope we don't have to wait that long for a bleedin licence!

Hi Steve, a break from Brexit :)

I think you mean KN-1, yes production licence till 2036 or something. - shambolic the lack of reported progress by the operator Aminex, SOLO should do more, although with only 8.3918% influence is of course limited.

The Zubairs bought just under 30% of Aminex @1.3p (current sp there 1.275) bought as much as they could whilst remaining below the statutory reverse takeover %

Licence not granted or No Deal would be a disaster for both companies and if I thought that was probable, I would have already sold.

Cash, quite agree if you take Ntorya away. I only hope for those VLTH that the primary asset provides you with some relief.

Helium-1 another boat stuck in a Tanzanian port. Solo have a board member so should be shaking their feathers..hard!

No licence, no significant progress with KN-1 and no IPO or spud dates from Helium-1, feels like a drought!

Good job they have that £7million cash at least.

Sorry about your loss and yes I would feel the same after 7 years, but at the current market cap and the discovered and appraised resources with the first 2 drills already done are worth more than the market cap, + they have around £7 million cash to tide them over.

Either the licence is issued and the JV farmout is conluded and then the 3rd production well completed or it's £7 million to spend on something else I suppose.

I bet on the licence myself, just not sure when exactly and yep all Aim investments are little more than researched bets.

GL

I think "bust" must be the word of the month, still just for reassurance, with the current cash position of around £7 million @ the current spend, the company can keep the lights on for the next 7 years, or until the licence turns up and they have to spend on the drill. ;)

7 Years!

Sold too much 1 drill too early, I would say TT, still if they complete the FO then chocks away.

Roll on the flows and production here!

Welcome onboard AA, you got in cheaper than the cornerstone investor, the Zubairs.

Roll on that Licence!

Just the usual from Aminex I think steve. I would expect something from them week commencing the 25th if nothing before, but hey it's Aminex so just as likely to be April 1st ;0)

Licence before or not is the only question?

No licence No drill...Playing some Bob Marley.

The farmout requires the Matwa appraisal licence extension skinny, it is a condition of the farmout deal. We wait for the Tanzanian Gov to issue it, when is any ones guess!
If not issued by the 31st March (longstop date agreed between aminex and the Zubairs) then Aminex and the Zubair corporation have to either pull out or extend it … again.

So lets be clear here then Kejoglo, when the licence is issued (assuming that the communicated Assurance from the Gov via the Operator is correct) YOU believe the price will not rise?

Please clarify your position for me.

Fair enough, still it's not as if they have not had plenty of time to execute all other formalities to the point of signature for the Farmout. An announcement on C-1 shortly after completion would also be good and some actual progress on KN-1, production by last Christmas (Oh dear JB)

Well good luck with your price predictions Kejoglo, of course alternatively the licence is issued and you won't see this price again, since it values the asset at the concluding Aminex deal of $20 million alone.

Ah yes, sorry I meant the licence being awarded and the Farmout thus moving to conclusion, we have price predictions for it not happening but none for it happening. the SP reached 3.5p on the day of the Farmout announcement (all the moons ago) So for balance I was wondering on what the upside is, since the downside has been so well covered.

I see lots of price predictions on no news but none on news by the 31st, what do people reckon 2p?

Long stop or longer stop?

Ok good and thanks for clarifying as these licence delays along with KN-1 delays have ceratinly had a significant impact on the SP.

The geology is good, resources discovered and appraised are significant and have the potential to deliver larger numbers across the basin with more wells.

Just want to see a well drilled and for that, we need a licence and a well funded and equiped operator, one it seems comes with the other.

"You'd be mad to short it in the current situation." I Quite agree matherdj.

Dunder, surely you are not suggesting that the BOD are complacent with regards to the issuing of a licence by the Gov? KN-1 they are 100% responsible for an appalling lack of progress but not the licence delay over the Primary asset.