Member Info for cperkin

"TLP-103 well will spud on 15 August 2018"
"The TLP-103 well is expected to take 64 days to drill." RNS Number : 5423W

So jonnyfro's time estimates look about correct to me across the 3 targets. :)

The total spend to them will be up to $105 million, regardless of how you cut it though Crusty.

"which implies a potential expenditure during the carry period of up to $105 million for the aggregate 75% working interest held by APT and Aminex"

"Why haven't the big boys raided their petty cash tills"

The Omani Zubairs just picked up 50% of Ruvuma for 40 Million, solo own 25% of the same asset.

Winter, soon be Christmas Drewky! NT-1 and 2 were both spud late December and C-1 can still do the same, unless the new operator really starts things moving and spuds beforehand :)

Best of luck share holders

Best of luck with your 20p target BD1-S

Enjoy the break!

Monday is indeed a big day for SOLO, in the Words of Malcy.

More changes at Solo as has been telegraphed lately as Alastair Ferguson joins the board and will become Chairman on 6th August. Neil Ritson will leave the board that day and remain only as a technical advisor. This signals the very serious approach I mentioned when Jon Fitzpatrick joined the board recently as Ferguson has very heavyweight credentials from BP, TNK BP, Zoltav Resources and JKX Oil & Gas. A leading player in the industry today told me that Ferguson has ‘forgotten more about gas than most people ever learn’.
The transformation continues at Solo where I get the distinct impression that nothing is sacred and everything is on the table which should bode very well for shareholders in coming months. I suspect that this board is going to get things done and at a rapid pace especially following the canny deal by Aminex recently shines the spotlight on the Ruvuma asset…

https://www.malcysblog.com/2018/07/oil-price-range-resources-igas-energy-solo-oil-bahamas-petroleum-link-and-finally/

Have to see how quickly the Zubairs get things moving. Certainly the Wentworth 5 wells are nearing capacity (without compresion) so 2019 could be a very real possibility for the initial 40 million scuffs?

Happy if that is the case Crusty and not 2022 as per the IO study and graph (Conservative?) they will also need 40 before 2020 based on that same analysis.

Not a bad problem to have, it would be nice to see some proper competition to the Zubairs though.

lol Drewky, I am sure they will all be posting and ramping just as vigorously once they have filled their boots. Would be strange if they stopped posting as much once drilling etc is underway after all.

Maybe crusty, depends on the flows and demand surely. NT-1 and 2 alone could probably produce 40 scuffs, NT-3 with the thicker and multiple gas sands targets could well come in 40+ so over 80 for the 3 wells. The first 2 years only shows a demand of 40?

C-1 and the 33km pipe and 3d first imo crusty but I agree, till we see the Zubairs in operator mode, who knows for sure.

Enjoy the hol and stop playing with your phone Dunder, it's family time ;)

Malcy said he has been too busy with interviews to do it this week, it will be posted all over here now doubt, so not much chance of you missing it ;)

The deal is only done once the vote is cast at the EGM and it is a foregone conclusion IMO, nothing to do with solo whom I very much doubt will be doing anything regarding pre-emption rights if thats what you mean smudge?

Solo are looking for a bank loan from a Major bank for their $15 million to 40 Mscuffs according to their RNS.

looking quite cheap now with the 35+5 and mcap of 66

$60 million meaning the 100% costs Crusty? 75% being effectively taken by the Zubairs, leaving $15 mill for solo to find (that bank loan from a Major bank would be nice)

Yes the Zubairs may well speed up development depending on their plans and gas demand, they need C-1 drilled first though and the 3D + the 33km pipeline before they get any further ahead in the full field development plan.

Still comes down to a sale or loan for the first phase for little solo.

New Bod here, come Monday and a New operator in the Omani's in Tanzania, I am happy with both :)

Based on the Portland only Crusty, I quite agree ref UKOG mcap, I think Aminex looks good value now myself based on the 35 +5 Million, just solo's looks much better imo ;)

Only $15 million to get to 40 million scuffs a day steve, which returns $12 million gross per year, according to the costs that their CEO detailed in the LSE interview.

https://youtu.be/cntSwqspHDQ?t=100

$5 million for C-1 drill
$7.5 million for EPS (33KM pipeline etc)
$2.5 million for 3D seismic - you could argue that this is for full field development as in where to drill the next 5 wells and not part of the $15 million to get to 40 million scuffs production.

Now then MM's lets do some analysis shall we.

SOLO comparable market cap should be in the region of £45 million today based on market cap comparisons and allowing for other assets and cash positions of aminex (Free carry+ cash) and UKOG.

So currently the solo SP is discounted by a factor of at least 4 times.

Aminex (£67 million) + UKOG (108 million) solo hold the same % asset as Aminex and about a third of UKOG equivalent.

Correction required.

https://twitter.com/Adrianwfire/status/1025335095085940736

No surprise I guess after the RNS

Portland high-rate flow test successfully completed.

Portland short-term high rate tests achieve stable implied equivalent daily pumped rates of 401 and 414 barrels of oil per day ("bopd") of dry 36 API oil over two periods of 6 and 2 hours, respectively. Maximum instantaneous half-hourly pumped rates of 441 and 470 bopd.
The maximum rate recorded was limited by the rod pump's maximum rate capacity of approximately 470 bopd. Higher capacity rod pump sourced and mobilised for use at HH-1.
Metered daily oil rates and recovered Portland volumes to date exceed 2016 test values.
Associated solution gas rates of around 41,000 cu ft per day.

Certainly looking comercial at this point, lower production rate expected of course.

Good luck holders!

I quite agree mousey, nothing like announcing it say Monday so it is all done and dusted mid summer holidays when no one is around. Not that it will make any difference to the outcome of the vote either way imo.

I want to see what the new operator can deliver and how quickly.