Member Info for cperkin

it's mind, up & down like the old proverbial!

Roll on spud date & licence...……………………………...

@ Skinny, waiting for it to be awarded to the new Operator - ARA, as in the Zubair corporation. I assume this won't/can't happen till after the Aminex EGM?

My understanding is that NT-1 & Nt-2 alone could produce up to the 40 scuffs a day and possibly much more post remedial and the terms of the Aminex deal with the Zubairs takes them to that 40 scuffs, so regardless of C-1 outcome, I believe they are in Business anyway OG $15 million to get to 40 scuffs production = $12 million earnings a year to solo. I hope that John Fitzpatrick is bringing something to the table here, note his company just merged with Lonburgh Capital LLP

"Energy sector adviser with extensive executive and board-level relationships and corporate, institutional and professional advisory contacts. Over 20 years' experience in the industry underpinning a demonstrable track record of success in handling major corporate finance transaction, equity issues and providing strategic financial advice."

Hi OG, they have been paying it off and it is below a Million I believe. They might be able to extend but I would much rather see a bank loan with a Major bank on better terms that are less dilutive than the YA type outfit.

I would also prefer that solo sell none of the Ruvuma asset till the C-1 drill is complete and the 25 year development licence in place as a minimum, the multiple targets look huge and the possible deeper oil target could be a major gamechanger if they hit anything commercial. There will be a riot from aminex shareholders if they hit commercial liquids on top of that gas!

https://twitter.com/mgrahamwood/status/1019311687328059392

steve, I would like to see the below as per the RNS

"Solo is in early stage discussions with a major bank on the provision of project financing for the development of the Ntorya field from completion of the planned Chikumbi-1 appraisal well until the development reaches at least 40 million standard feet per day ("mmscfd")"

Sorry additional $2.5 million is for 3d Seismic that should read.

Just looking at the numbers presented by Aminex and in fact only $12.5 million is needed to get to 40 scuffs production with an annual earning to solo of $12 million. The additional $2 million includes the 25% cost for the 3D seismic as part of the full field development to the 140 scuffs!

GL

Bottom line is as a shareholder you get to vote at the EGM on the deal, seems however with the share holding split the way it is that the deal will be concluded on the terms indicated.

So, there is not much else to do other than Sit back, let the new operator get on with it and wait for the revenues to come in.

GL

Morning GL, yummy you can buy a lot of chips with that first £15K trade ;)

Have a lovely day!

lol mousey, best one of the day :)

Certainly does, who knows maybe they will raise the $15 million to cover their 25% of costs to EPS + another 12 mill to exercise their pre-emption rights and buy another 12% ;) haha

Solo options according to NR are.

Financing through a major bank - they took on as Malcy said "A deal maker and mover and shaker" in John Fitzpatrick recently or,sell some assets (could be Ruvuma, could be Horse Hill etc)

I have certainly not held this share anywhere near as longsome of the very long term holders such as crusty, Irish, GL, Webmoor etc etc and have to say was gutted @ the Bod's move one drill away from a much bigger pay day, especially since that drill should have been back to back with NT-2.

Still regardless, the presentation today and the production figures and revenues look very healthy, just would have looked better with NT-3 in the bag and if they hit that west and updip oil then I will scream and shout this again one last time on the day.

GLA - production here we come.

https://aminexunofficial.blogspot.com/

apologies, steal 12% @ pre-emption price, leaving the Zubairs as operator. Hahaha as NR strokes the white cat on his lap ;0)

I quite agree crusty and never ever thought in a million years that solo would be in a position to potentially do a better deal than Aminex!!! Raise the $15 mill to get to prodution :)

If only SOLO could raise more through a bank and steal back another 24% in pre-emtion, leaving the Zubairs as the operator.....hahahah!

https://www.youtube.com/watch?time_continue=25&v=cntSwqspHDQ

If 40 scuffs = $12 million per year then 140 = $42 million per year I think Jetty?

So if solo were able to secure a major banking facility on the back of the $110 million pledge by the Zubairs to get 140 scuffs into production, the pay back or ROI is complete after only 2 and a bit years of production.

Not sure how a plan showing 40 scuffs per day increasing to 140 scuffs over a couple of years on pg 5 is not new, I must have been sleeping?

I am also surprised at the speed they expect to go from 40 scuffs per day to the 140 scuffs per day Jetty, slide 5 shows a fast ramp up to 140 scuffs.