Member Info for cperkin

If the TPDC ever give the green light Crusty :0)

Edgar, the so called "death spiral finance ref" is that in the same RNS mentioned below they are paying off the YA loan leaving solo debt free.

So they are left with either selling (farmout) a portion of Ruvuma selling all or finding the $15 million to get to the initial $12 million earnings per year. Either way with a market cap at around half the current asset value as per the aminex farmout, it will be interesting to see what happens next.

Thank you Welloiled.

I think as dunder pointed out it was split proportionally between AEX and SOLO.

You might be right smudger but I would not hold my breath as per RNS, they will retain Equity and have just raised (for now) as per below. They also go on to talk about a raise and open offer for the C-1 drill, if required.

Solo is reaching a critical stage in realising shareholder value in some of its key investments. It will therefore be vitally important that the Company retains its equity positions in those investments in the coming months. The Board is preparing itself for probable cash calls likely to be made by the various operators in order to fund the on-going operations in these investments, especially in the Ruvuma Basin, in the short to medium term. Non-payment of cash calls under the various joint venture contractual relationships has significant potential penalties in diluting the Company's equity position in the underlying assets which therefore risks eroding shareholder value in Solo.

So 7 or 8 MMscf/ would be around 50% or $500,000 per year for an approximate remediation cost of less than £20,000 to solo?
(ref:JB's £250,00 comment ref Turner Pope)

That makes sense to me, is that not exactly what happened when Tullow pulled out?

@Smudge I agree it is all to be confirmed, farm out sale or fund but at the SOLO AGM, apparently no projected timeline or cost details had yet been communicated to solo, never mind an invoice for works.

smudger, till they are asked for some money as in a spud date is announced they have nothing to stump up. Simple really.

And more PR

https://twitter.com/virorum/status/1032266993297223682

A small top up for me this PM, could well be an RNS on Tuesday Morning I guess?

Thank you Leafless. That Jan 2020 date for 40 million scuffs production will it seems be under increasing pressure.

Could be part of a cunning plan though GL ;)

If you have concerns about shorts, set a sell order on your full holding for £1 and then they can't borrow against them. I like to do it with all stocks in my PF

Steve, as a non operator of all the assets, the same applies to all of them. They have influence but are not the operator.

https://goo.gl/HWKjgS

I see your point though Barking, an additional 100 bopd per well to the current production. So TLP-103 is only targeting this increase, fair play.

R1/R2 total production target is 750 bopd, slide 8 :)

http://www.aaog.co/archive/presentations/AAOG-presentation-May-2018.pdf

Thanks Leaf, does this impact significantly the earlier forecast demand profiles you developed previously? It would be good to update Drewky's blog if possible.

Many thanks.

https://aminexunofficial.blogspot.com/

Current Aminex deal values solo's 25% of Ruvuma @ $20 million
Current UKOG deal values SOLO's 9.75% @ just over £4 million
Current market cap £13 million

waiting...

90% chance of success for the first target -750 bopd and just a few days away and then the two deeper targets :)

Agree Crusty, other than the $15 million funding issue the biggest risk as you have pointed out before is the Zubairs accelerating development prior to production and income, solo are little more than passengers to the new operator the Zubairs.