Member Info for cperkin

Likewise Crusty talking about the risks over the massive asset base here and saying that 10 million is realistic meanwhile you are ramping about "hot money" over a share with no licence and no assets and a higher market cap. You could not make it up!

Yeh I believe every word you post..not!

Small Crusty is the word, any casual reader here would believe from your posts that it was all going ******* up just as all your posts on remediation not being good news yesterday.

Let me know when you close your AAOG trade - oh by the way they have no proven asset ,no licence, a JV that is not paying their part of the drill and almost 0 cash,so I look forward to reading your balanced warning posts over there ;0)

Quite agree BD, I do believe there are some talking their own book here whilst investing elsewhere in the hope the SP is in the pits for when they conclude their trade.

Never heard so much scaremongering before on any share. Despite the SP, solo have more cash and more assets than at any other time in it's history.

Quite right Aston it was 311 million boe Giip

Still should be hitting that first 90% COS oil zone here now, if not already drilling through, wonder when that rns will drop and how far they will be before the GM?

lol crusty actually it could be very good for solo shareholders if Aminex went down the pan, if AEX defaulted the remining JV partners get the spoils and solo would own 100% of Ruvuma ;0)

I don't believe that aminex are going bust at all Frank, and as for production, they RNS'd yesterday that the first stage of remediation is complete and gas has flowed to surface. We will just have to wait for the flow test results to see at what volume.

Crusty I dismiss none of the risks, I do however consider the probabilities and there are a few key points to make.

1.0 There is a legally binding licence in place
2.0 The Shareholders vote for the farmout the 4th Jan - the probability is that the resolution will be passed- do you not agree?
3.0 The Licence is a pre-condition of the Zubairs completing the Farmout - the probability is that it will be issued - do you not agree?
4.0 The Farmout is due for completion prior to the March stop date - again do you not agree that the probability is that this will be completed on or close to that date?

The assets discovered and appraised are huge and multi TCF - even in the worst case as you suggest and Aminex were to go bust, the current offer price of $20 million for 25% would be the base benchmark and in excess of todays solo market cap.

Bit honestly, you believe Aminex are going bust?

Crusty it's not about wining on a BB, I was just making the point that legally the JV still hold a licence over the asset, yes -it is an expired licence and is waiting renewal and as such prevents anyone else from biding for it.

If the Zubairs wanted the asset, they could easily have made a low ball offer here and bought just over 1% of the AEX stock to force a reverse takeover.

I fully expect the licence to be issued and the Zubairs to get thier 50% for a measly $40 million.

yes dunder, I would hope so after being shut in for so long, question is when flowing how well does it stay charged or will it be sporadic flows again?

Sorry typo $40 million for, wish it had been $440 million!!! :)

Crusty I am sorry but the statement you make is false "there is no current license" The licence is valid until revoked or renewed, Jay also made it clear at the AGM that the licence remained in place.

Is there a risk of no licence extension, of course but I would estimate that it is extremely small as without it the farmout can not proceed and the Government would be standing directly in the way of the Zubairs gaining the 50% of the asset that they have offered 440 million for.

I think steve was pretty close to spot on when he said the assets in Ruvuma and KN-1 are reflecting almost $0 in the market cap.

You after all expected the licence with the circular, I think it may come before the 4th Jan date but certainly I would be very ,very surprised if it was not issued soon after the vote.

lol John thats only my expectation, unfortunately as per usual with an Aminex RNS it completely lacked any detail, expectation or next steps, other than to say "The well is undergoing further testing and analysis."

Yes Crusty, however according to the legislation the current licence remains in place unless and until it is either revoked or re-issued and is that extension licence not a condition for the farmout? do you think the risk of such a licence not being issued is 100%

If so I would agree with your statement, but as it stands I think it's just scaremongering.

Not sure how long they will flow test and confirm reservoir re-charge before deciding on if to perforate the lower zone?

Update expected before Christmas though.

GL

Just to explain guru's post if you are not aware.

Set a sale order on all your stock for a silly value like 50p This prevents your stock from being borrowed for a short.

The current value in terms of market cap is dwafed by the size of the asstes here, the Ruvuma basin is a multi TCF discovery with a development pan and 25 year licence applied for. The zubair coporation are in the process of farming in and buying 50% for $40 million. (solo own 25%) An extension licence is due to be issued either prior to the 4th Jan vote or soon after and before the Zubair coroporation complete the deal with their implied $105 million spend to bring it into production.

Don't get mugged!

Quite right guru, set it nice and high :)

Crusty I never claimed to have, so was never mine to lose what with my optimistic outlook over a massive asset base here but I am trying harder to be more objective at least..maybe failing but think I am doing much better than before, regardless of your interpretations and making 1+1 = 10

Anyway back to solo, good news that remediation has begun over Kiliwani and gas is flowing again to the surface (rate and re-charege unkown)

Looking forward more to the Jan 4th vote and post that the Zubairs taking over as operator over the main asset - we might actulay get somewhere!

And no it is in fact very significant, remediation work has begun and the first stage is complete to repair or replace a sub surface valve.

Honestly crusty, I admire your knowledge and at one time respected your objectivity but that seems long gone from your posts unfortunately.

Crusty, please point out where there was an implied suggestion ? I said nothing of the sort, I stated that it fell over a penny which it did, I was not suggesting that it would gain a penny on the first stage of remediation ffs - jesus wept man!

Well crusty see it how you like but an unstuck valve in my book is better than a stuck one, as is gas to surface V no gas to surface. Don't see how you can objectively paint it as bad news?