Member Info for cperkin

Hi paul, thats correct and as a result I imagine many people will wait to see where the SP is before committing to any allocation.

phew I thought we had lost a million down the back of the sofa ;)

Maybe I am wrong steve but solo own 9.75% and the UKOG purchase is for 4.55% so solos must be worth over 4 million not 3 million?

"For a total consideration of £1,925,000, the Company will receive Gunsynd's 2% and Primorus' 5% shareholding in HHDL, equating to a further 4.55% beneficial interest in the Licences."

Seems UKOG are very happy to buy more whilst flow testing.

So now along with the $20 million deal for Ruvuma you can add over another £4 million to solos's market cap since solo own 9.75% of Horse Hill. Total proven market value of Ruvuma + Horse Hill = around £23 million - current market cap = £12.7 million

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=UKOG&ArticleCode=k4w3jbbr&ArticleHeadline=Acquisition_of_Further_Interest_in_HHDL

Seems the perforation guns have done their work and the bigger pump has been fitted and is now running.

https://twitter.com/WealdOilers/status/1031139443665719296

Best of luck all.

lol normal guy, worth 100 times = a SP of 220p that even beats your £500 million market cap you ramper! 😜

Forgotten?, not at all burning down, hence my statement with regards to the current market cap, an 11 fold increase in giip resources to almost 0.5 TCF to Solo, a development plan, a farmout between Aminex and the Zubairs for $20 million per 0.5 TCF, new management and the market cap here is well below that Aminex deal value and the Sp before the 11 fold increase in resources.

Never mind Horse Hill.

Obone my view on the payback is from the Aminex CEO's calculations all the figures I am quoting, including the payback and ROI are all in the interview link below.

https://youtu.be/cntSwqspHDQ?t=59

The $5 million per drill was the number the Aminex CEO used in the LSE interview, he said that would be the cost per 25% holding per drill as an example of their deal and the $35 million carry and how it might be used beyond the 40 million scuffs target.

Apologies obone, I did not respond to your question.

"How about letting or getting anything for other investments - and not having to finance their future - go for whatever we can get and concentrate on Ruvuma ?"

I would love to see this as Ruvuma pay back against investment produces a very fast ROI based on the initial development plan. The biggest risk beyond the C-1 drill is that the Zubairs pressure solo by expanding the development plan as Crusty pointed out beyond the 40 million scuffs initial production.

Great it can generate $12 million a year starting 2020 for a cost of $15 million but the Zubairs could decide to sink several more wells whilst the rig is in place, each drill will be an additional approx $5 million cost to solo.

Fine if producing $12 million a year, but not so good for solo if those production earnings have not been realised yet.

Another issue is that the only other asset with potential proven commerciality is Horse Hill and probably the only other asset that would have an immediate market, pending flow test results of course.

Either way I stand by my market cap statement based on the current transaction in the "open market" ( I use the term loosely in this related part transaction between aminex and the Zubairs for $20 million per 0.5 TCF )

Best of luck!

No worries obone,I have left a contact before on their site and hear absolutely nothing back, no surprise as last time I checked they were only interested in High net worth investor queries. Be different if and when they float and are bound by the exchange rules.

As for the drilling. my understanding is it is very different to the Hydrocarbon drilling we are used to and it requires lots of small drills to explore traps and pockets.

I think we would all like to know obone, last we were informed they had raised enough money to complete their pre- IPO on the Main Australian market & they are due to drill at the end of 2018/early 2019. The raise values the asset at just over the price solo purchased it for, so no real value to date.

Pre-IPO round raised US$2.0 million from Australian, Asian and African investors;
He1 now funded through to drilling which is expected to commence in Q42018 or early 2019
Discussions underway with drilling operations partner; and
IPO planning underway to coincide with key drilling milestones

The Geological COS is exactly that I guess, the last 60% COS drill I was invested in increased resources by 11 fold and proved up millions of barrels of oil equivalent.

All drills are risky, appraisal drills significantly less of a risk thank discovery drills, this drill has both of course within the 3 targets.

Happy to see what unfolds and good luck all!

Oh and laughing gas is Nitrous oxide and not Helium.

obone, so to be clear the current asset price of $20 million should not reflected in the current market price for sale in your opinion?
I am not talking about the licence or production, as this is the price on the market as per the current market transaction between the Zubairs and Aminex and without a licence or production.

Christoff, I did no such thing as back NR to the hilt, what nonsense and I was very sceptical of the Helium-1 deal when it appeared. I have however since changed my opinion based on the research.

As for me being NR you seem to have lost the plot there completely, so I manged to meet twice with the BOD with shareholders and manged to what duck in and out of the room and change my wig, wig off, slightly bald Neil, out to the loo - a wig on, cperkin

Absolute delusional nonesense, I am clearly Big D, Jetty, NR, Cperkin and Christoffmcd, since I like to arque with myself

PMSL

+1 opuentia, have a great one, one and all!

No idea what the SP will be John and it depends a fair amount on the forthcoming flow test results for the Portland @ Horse Hill.

What I do notice is that all the firm placing shares appear to have already disappeared into the market already. Remember the epsilon deal and others, drip, drip, drip, for months & months. Not this time it seems?

A very sad day indeed and a man that will be very much missed not only of course by his family but the Aminex bb family as well, he will be greatly missed here.

Thoughts to Webmoors family and to all that knew him.

Thanks Mousey, hard to keep up, 5 days, 2 days, 1 drill, 3 targets and a later 4th if the first 3 come in.....blimey what a rush!