Member Info for cperkin

But the time they have built it in 10 years, the current Ruvuma gas (777 BCF only) $2.5 billion worth will probably have all been burnt up.

Works when it rains at least.....

Always a good sign when the traders start popping in with low ball SP forecasts, seems they missed the 2.25p - shame ;)

Yep, they will wait till post C-1 no doubt, still looking forward to that possible "special dividend" for shareholders.

No Pizza, no PA tasks from me Dunder you will have to print the list yourself ;)

Nothing new for AEX in the solo results, but very happy with the new BOD and their progress & a couple of read through quotes.

“The Board has put in place a strategy to protect its interest in Ruvuma, including being able to fund its share of costs assuming the associated 3D seismic programme and drilling of the Chikumbi-1 well occur prior to any monetisation event. "

"Solo is considering all of its options with regards to its 25% in the project, including a more aggressive marketing strategy as the company seeks to complete a partial or full sale of its interest."

Sorry been busy reading the SOLO mid year report, expect AEX later today or tomorrow then? do you think it will com with the circular?

Hi OG, a good RNS to read that covers such points that resulted from a shareholder action group is the below.

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SOLO&ArticleCode=99zb1610&ArticleHeadline=Corporate_and_operational_update

Sorry fat fingers.

Ruvuma

"Solo is considering all of its options with regards to its 25% in the project, including a more aggressive marketing strategy as the company seeks to complete a partial or full sale of its interest."

Ruvuma

Morning, thought about the last part of your question a little more this morning, the AEX CEO in the LSE interview forecasts $10 to $12 million earnings in the first year @ 40 million scuffs, so it would appear he is building in a price range for the GSA negotiation?

The investment to drill C-1, build the pipe and connect the wells to the state owned gas processing plant is $12.5 million to solo so ROI in just over a year @ $12 million earnings or @ $10 million or 1.25 Years ROI

Conclusion, minimal impact.

Logged an noted BD, total large trades since placing and open offer = 73,381,934 with a value of £1.624 Million

Expecting AEX Mid year fiscals today/tomorrow, followed by the Farm out circular and the date for voting on conclusion of the deal + an update on KN-1

Also expecting UKOG Portland declaration of comerciality and Kim flowing shortly

Slides 4 & 5 give a little detail of the development plan and the forecast demand curve OG.

http://admin.aminex-plc.com/uploadfiles/180717_Ruvuma%20Farmout%20July%202018%20Presentation%20Secured.pdf

Sorry I should add that Aminex outsourced a commerciality and development study to IO/Baker Hughes (GE) which forms the basis of the 25 year development plan and will I guess assume a similar GSA price as current.

Afternoon OG. Not sure is the short answer.

I do know the current demand curve for gas looks to outstrip well demand next year for existing domestic demand with the new gas processing plants coming on line as we speak (see below from today for an example)

http://www.thecitizen.co.tz/News/Power-project-nears-completion/1840340-4778108-2u5iugz/index.html

It is however impacting foreign investment and stalling the building of large gas hungry Fertilizer plants and the price needs to be agreed for the Tanzania to Uganda gas pipeline being built.

Aminex already have a Gas sales agreement (GSA) in place @ KN-1 for just over $3 and this was prior to the Omani's buying 30% of Aminex and then a further 50% stake in Ruvuma. Incidentally the Omanis wish to build a large fertilizer factory in Tanzania and so may benefit from any such delays.

Seems to be recovering now and @2.025p on the ask over there.

2.025p = £4,727,653 for the £4.5 million solo investment.

The new Bod have taken 62,575,996 shares almost 10% of the company.

In total the share owned by Management = 74,974,885 or almost 12% of the company.

Skin in the game!

Gone Fishing....

No the price has come down to the average price of the 328,858,149 shares issued, bit like a placing I suppose over there.

Yes, AEX are waiting for the circular to be posted (should be this week or next at the latest) and then the EGM vote which is likely to be November? Until the deal is done they are stuck in limbo with a knock on here.

I also hold AEX and like many there felt that the $40 million for 50% was a bit of a shocker, but there again AEX were over a barrel due to Kn-1...Thinking of which news is also due on that well this week, next week at the latest.

Indeed, financials tomorrow?