Member Info for cperkin

sorry that was a reply to crusty and not BD.

Liquidity and cost call avoidance I think BD. If the Portland is declared comercial then the next drill is due to be spud before year end and permanent production will require yet even more £££

SOLO have put themselves in a debt free position whilst having a potential liquid asset worth around £5.4 million at todays UKOG SP. A bit of a gamble perhaps?

Good question BD. I think it's all in the HHDL loan in the accounts @ £749,000?

"For a total consideration of £4.5 million UKOG has agreed to acquire Solo's 15% shareholding and loan in HHDL" So the loan will be cleared from the accounts and solo will own 234,042,221 UKOG shares.

Seriously folks Chikumbi-1 is not and has not been held back by solo, aminex and the Zubairs is where that one sits.

Thats correct BD and the UKOG SP is just under 2.4p so currently profit on top of the 45% profit already achieved. All depends on the UKOG SP when solo sell UKOG shares.

We should see the Portland very soon I would have thought and with solos 234,042,221 shares in UKOG, I am just as interested as I was before personally.

GLA

Also very dependent on UKOG SP performance now Joe, but with the news yesterday about KN-1 remediation and the possibility of income from gas sales by year end coupled with this UKOG deal, I am certainly much happier. Still a long way to go before the SP reflects the current asset values though

https://twitter.com/proactive_UK/status/1035064766019055616

Get over yourselves!

+1 Very, very happy with the new BOD and a sign of things to come me thinks.

All options on the table...more to come.

lol obone. I do know one thing now. I am taking my full allocation of shares @2.25p and will take as many additional as I can.

Good point Sambo, solo's share price is now directly linked to UKOG with a 4.2% holding it drops solo drops, it rises, soo rises.

I thought that was very strange the way JB mentioned that yesterday BG, like a senior moment - oh yeh there is more to perf ;)

I can understand that Joe, but the risk has and cost has been transferred. SOLO own 4.2% of UKOG and so any upside is still solo's and not just of Horse Hill but all the Weald play UKOG own.

I think the idea, which is new to solo is about making a profit. They made a 45% profit on the sale of the asset so far. They now own 234,042,221 of UKOG @ 1.92p which they can sell at anytime. If UKOG continues it's Northwards move then solo get more profit on top of that 45% already taken and all without cash calls.

It certainly took me by surprise, all options really are on the table.

We have UKOG shares steve, so no more cash calls but get to enjoy any upside from UKOG share price, solo now own 4.2% of UKOG and made a profit already on the asset.

They said all options are on the table, maybe Ruvuma next?

Brilliant - cash, shares for upside and no further costs!!!

The Company has agreed to enter into a conditional sale and purchase agreement ("SPA") to dispose of its entire 15% interest in Horse Hill Developments Limited ("HHDL") to UK Oil and Gas plc ("UKOG") for a total cash consideration of £4.5 million together with a simultaneous purchase of 234,042,221 new ordinary share in UKOG equivalent to a 4.2% interest in UKOG.

Couple of full tankers left the site yesterday, £££ coming in.

https://twitter.com/Adrianwfire/status/1034715107841007616

11 to 13p has been the recent range whilst we wait for the drill to reach the first target which should be about now. The COS is 90% so as much as a dead cert as can be, the next target is where it gets a lot more interesting cos 60 to 70% followed by the 25% COS and a pootential massive upside.

Target #1 news imminent.

GLA