Member Info for cperkin

Don't know why all the posts have disappeared but as an = 25% holder of the same asset it is relevant to this share.

The good news being that they are fully funded for the C-1 drill.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SOLO&ArticleCode=fhu2od72&ArticleHeadline=Corporate__Operational_Update_and_Board_Changes

All good news and in summary.

Funded and cash in place
Org structure in place to deliver operationally, fiscally + through M&A and all the old guard now gone.
Prime assets in place

So all set up and ready to go & need material progress on KN-1, Licence for Ruvuma and AEX farmout + Helium-1 progress (IPO or drill)

Yes Crusty, you could argue that SOLO now have more Operational experiance than the Operator of the assets. Having met the guy, he knows his onions and has drilled several wells in Tanzania, so understands the political landscape as well as the operational challenges.

Should be a WIN-WIN for both the operator & SOLO (I am sure his drilling experiance @ KN-1 and C-1 will be valuable)

"Fully funded through this year's proposed drilling of Chikumbi-1 well in the Ruvuma PSC, onshore Tanzania."

What a change, FULLY FUNDED and prepared...more so than Aminex it seems.

Happy with the update, be happier once Aminex get their part sorted and rolling and the same for Helium-1.

GL

Every ones locked and loaded & waiting for something to actualy happen?

V19!

lol Chesh, it is still in the ground and undrilled and the 99 BCF is P50 recoverable so a 50% chance. At current market rate of around $300 per Mcf it would have a total sale value gross (all 99BCF) of $29 Billion US (prior to costs, taxes etc)

Helium fact

At todays prices the Prospective Recoverable Helium Volume of 98.9BCF Unrisked Best Estimate (P50) is equivalent to ~8 Trillion Cubic feet of natural gas in value.

Sorry fat fingers

Aminex
Aminex has raised £1.85m from their two largest shareholders and some directors in order to drive forward value in Kiliwani, now that Ruvuma needs no capex from AEX. Getting Kiliwani going where there are already Government approvals and an existing GSA makes sense as ‘the molecules we produce there are very high value’. It is understandable that shareholders consider this odd but the process could add value in an area that the company at least has some control of.

https://www.malcysblog.com/2019/02/oil-price-aminex-zenith-energy-sdx-energy-genel-united-prospex/

Good luck over there!

Malcys comments on yesterdays news at Aminex

Thanks and enjoy! I don't know enough to understand if they are referring to the remains of the original perf gun (depending on type used) or if they already have loaded the deeper perf or are indicating where they might perf.

Hey ho, wait and see as per usual.

Aminex
Aminex has raised £1.85m from their two largest shareholders and some directors in order to drive forward value in Kiliwani, now that Ruvuma needs no capex from AEX. Getting Kiliwani going where there are already Government approvals and an existing GSA makes sense as ‘the molecules we produce there are very high value’. It is understandable that shareholders consider this odd but the process could add value in an area that the company at least has some control of.

https://www.malcysblog.com/2019/02/oil-price-aminex-zenith-energy-sdx-energy-genel-united-prospex/

Yeh, I should have been more clear, Slide 17 on the EGM presentation, TopGuns @ 1983m TVD to 1954m TVD

http://admin.aminex-plc.com/uploadfiles/EGM%20Presentation%20Jan%202019_Final_long%20v1.pdf

Last bunch was @1.44p I do believe.

Indeed BG, @ dunder I have a question, what are the Top Guns at the bottom of the hole?

Nice rise @ UKOG, enables SOLO to convert more shares to cash @ a profit as and when they feel like it.

Forward selling - surely not ;0)

I understand that part of it is politics and the Tanzanian Gov, but JB @ aminex took his eye of the ball with regards to KN-1, either he is incompetent or tried to use it as some kind of bargaining chip, either way they now have the cash to get the remediation and perforation of the lower zone - so no excuses or he will go the same way as NR!

I was being flippant regards a raise @ 7.5p, they were still loaded post the 2016 Open offer and raise with the Zubairs as cornerstone and did not need it, KN-1 remediation and delivery has however been incompetent imo and no excuse for non deliver in 2019.

Get on with it, they have the money - time to deliver.

Yes Steve, I am now expecting to hear about Helium-1 before either KN-1 or the Licence tbh. Lets hope Helium-1 do a better job delivering than Aminex!

Should have done it at 7.5p NM and should have drilled NT-3 back to back, although with the NT-2 rig, maybe not! but with such a small raise it would not be worth the extra cost of an open offer anyway.

If JB does not deliver operationaly 2019 then I don't see him surviving the next AGM vote.