Member Info for cperkin

Morning big S, stuck firmly in a small trading range till material news by the looks of it. IF (capitals) Aminex are to meet their end November Farmout date then material news on licence extension and circular is due by about this time next week.

It is meaningless if you are trying to determine a final time stamp as the final decision is a cabinet level sign off and not time stamped.

Got till mid next week for the licence extension and circular to meet the end November farmout date, sit back and wait, nothing else to do. In the meantime the SP is nicely holding above the 30 day MA poised for breakout.

GL

Pigs in blankets please, not just the bacon ;)

No worries SBB1 just like to keep to the numbers and the Geological COS. They are important numbers for O&G investors, I agree we should not be comparing on this BB and I do wish you luck and if a well does come in then it will be magical for shareholders there, but the odds are stacked against.

Matd have nothing but sunk costs for 4 wells if they don't come in, a big fat 0 and the probability of them coming in is stacked against them.

80% chance of failure @ matd V 10% chance here for Horizon 1 and an 80% chance of failure v a 40% chance here for zone 2 the numbers don't lie.

Lets also look at 4 drills as you say V 4 targets here with one drill, much cheaper to drill one hole than 4.

Like I say good luck at matd but the odds are stacked highly against you V positive odds here.

Good luck SBB1, but I would not be encouraging people onto a 20% COS drill @ matd over a 90% and 60% COS drill here!!!! they already had nothing but dusters there and the odds are that the rest will be as well.

20% chance of success @ matd V a 90% and 60% chance of success here, even the wildcat third horizon has a higher cos than the current matd drill.

Good luck!

Some think now it's a strong Buy, some a buy, some a sell, not that I take a blind bit of notice what others think with their Buy/hold/sell status anyway.

I do think that the price will rise on the award of the extension licence and circular and that these are both due any day now. I accept they may be late, just as I accept they may not.

Lets be avin it!

I suppose the positive from that is that solo have a 1.54% exposure to the Colter and Wick drills.

No need for a list thanks Aston, NR has gone, Solo is not farming out, at least not till post the C-1 Drill I hope and the appraisal of 736 BCF 2C and a further 900 BCF GIIP - be worth a lot more then after all ;)

lol steve, how I hate that word thanks to NR!

By the way, it seems we were all saved from another placing to buy yet something else a few months ago before the action group & NR stepping down and the New Bod taking over - PHEW!

It turns out solo hold a small number of shares in Corallian, 83,333 as it happens a little investment that looks like it was to proceed a placing and buying a load more.

23 Oct 2018
Confirmation statement made on 20 October 2018 with updates - click on the PDF and see page 5 - shareholder 49 - SOLO OIL

https://beta.companieshouse.gov.uk/company/09835991/filing-history

Thanks to research by Paris.

Yes it was reference to the pipeline pressure, the lower the inlet pressure the lower the well head pressure required and thus the better potential for KN-1 to "recharge" and supply, or at least thats my uneducated guess.

Come one AEX - Licence extension & circular in the next few days, farmout completion end November and KN-1 remediation back to production by Christmas, these are I believe the companies targets. - we wait!

Ref KN-1 interesting that Wentworth are also taking about reducing inlet pressure from current 95barg to 60barg apparently the pressures are massively over spec for the current demand and are based on full capacity of the pipeline, currently running at 10%

The valve issue for KN-1 is as a result of the well being shut in and not the issue with the flow in terms of the well recharge so a symptom and not a cause steve.

I agree though, Aminex said KN-1 remediation and production by Christmas if successful - so a little less than 2 months for that and the licence extension is due by mid/end next week and the Farmout by end of thi smonth.

Lots of deadlines looming - question is will Aminex hit any of them?

Fully agree!

Yes, but they only have to say they weren't informed from here on in. Did JB not say that in the Summer that all the rig tender details had been passed over to the Zubairs? It was either an interview or the AGM I think.

lol Crusty, we will find out soon enough. I wonder if the Zubairs as the new operators will get the motor running?

No excuse not to have all the ducks lined up once the licence extension is issued, although I do wonder what their responsibilities are in keeping the JV partners updated on Material RNS events going forward?

Certainly cutting it fine (as always) for Q4 Crusty, Q-1 still on the cards though, providing it's early Q-1 of course!

As for the circular, well they said end September first go round, so next week will be 6 weeks later than first date.

Sorry to be clear steve thats the 13th or 14th November for the licence extension and the Farmout circular, the actual farmout would not conclude till the end of November with an EGM.

They don't have the skilled resources steve, they rely on externals to drill and operate all the wells in Tanzania. Also if the Tanzanians made such a move it would end western funding and the massive world bank funding they receive.

I think the latest date put on it on the Aminex bb is next Wed Thursday , but hey it could be later, you never know for sure!

Indeed Crusty, licence extension first.

Yes depend what comes in when and how quickly post farmout sign off that everything gets put into motion, including the 3D seismic and Spud date, It's not as if they have not had enough time to line all the ducks up! Also the rush by solo to build a cash position that covers their portion of the drill and seismic seems to bode well for near term deliver.

We will soon see.