Member Info for cperkin

I think crusty has gone for the day amoeteto, my point of view is that the drill is now much more likely to be drilled this year now the Zubairs are going to be the operator.

I agree Phillo and a point we discussed in the meeting with them. Their legal representative made it very clear that as a registered investment company, without this ability as stated in the company documents on AIM admission, they would have to de- list and re-list as something else.

Jolly good if your not interested Kej, then jog on and don't waste your life. Anyone would think you work for the Zubairs anyway ;)

Lol Crusty @ BH comment and yes funny how they secured funding previously at aminex when they had not even proved up one tenth of the resources they have now but did not this time....Zubairs indeed.

Have to wait and see Joe, the Zubairs are now the operator of the Tanzanian assets and have all the Sovereign & political connections as well as the resources and money to make everything happen at the pace they want. They need the gas not only as an investment but for all the Omani business they are deploying in Tanzania such as the huge Fertiliser factory.

Lets see how they perform, better than the last operator is my guess.

Neil Ritson to step down in 2018

Funding - 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.

Funding - Prior to the effective monetisation of at least one of the Company's core assets the Board intends to seek shareholder approval for any new investments; or any further material acquisitions in any of its existing core portfolio assets.

The Board reiterates its existing policy on the distribution of cash or shares from the future monetisation of significant core investments, including the Rummager PSA, HHDL or Helium One Limited

BOD salary - Shares for salary - the current members of the Board have voluntarily been accruing fees, to preserve cash resources, for some months and this is planned to continue whilst a review of the Company's remuneration structure is undertaken.

Horse Hill - testing continues

Has to be the BEST SOLO RNS I have ever read and I have read a lot of them over the years!

You mean wouldn't

Well on first read of the RNS - RESULT! even more than I was expecting.

Thanks BD for getting this started a year ago and pushing and working hard on the follow up in 2018.

Time to read in a little more detail and good luck all holders!

bucks your comments regarding tiptop are misleading.

At the time you describe the company had declared a fully funded back to back drill with NT-3 being straight behind NT-2. The fact that the company decided not to deliver on their stated plan lays firmly at the door of the BOD. How much more value would the Farmout deal have a achieved if NT-3 (now C-1) had been drilled and a success as communicated?

Aminex sold out one drill away from production, a drill that is in a thicker part of the sands and also has an additional oil target.

I will be surprised if it does not get voted through steve to be honest, unless the shareholders do something similar to the action that BD organised here and even then almost 50% of the shares are owned by the BOD, Zubairs and one institution.

The deal is certainly low for Aminex (Still values Solo's market cap at double todays) but positive for accelerating the drill to production and the 25 year development licence. The Zubairs and Omani's are all over Tanzania and investing heavily in everything from Gas to power to factories that need that power and have significant influence there, they also have all their own oil field service companies, conveniently!

Like I said this morning, SOLO's startegy to hold off till C-1 is drilled (not without risk) and the 25 year development licence is in hand looks better to me for PI's than the Aminex startegy, they gave it away for a song just before the final drill before productiion? Smells!

He said as much yesterday, bit like David Cameron and Brexit? He got his money and he is off.

$35 million is the full field development including 33km pipelines, recompletion of NT-1 & 2 and the C-1 drill all in production at a minimum of 40 scuffs. The plan is for solo to farm down or sell the lot before then.

Especially when you consider those stonking buys at close yesterday for over £100,000 in total

Hi Shirely the total drill cost in the Feb aminex presentation = $15 million for C-1 thats dry hole + testing. It is now going a little deeper, so will cost a little more.

So Solo's share of that well @ 25% will be around $3.5 million

The Zubairs only have to purchase 1% more of Aminex and it would trigger a reverse takeover.

They recently raised and have enough cash till the end of the year for current expenditure, including horse Hill costs. They do not however have the cash to drill C-1 and said they would do an open offer for the drill after they have a confirmed spud date. (although they do also have an open loan facility of $3.5 million ready to draw down should they need it)

Just to add, I believe Jay said that they had the compressor in country for some months now but no agreement from the TPDC...I am sure that is what he said but I was thinking how the board looked a little like a row of pigs at a trough at the time.

+1

Exactly right oil, seems NR's strategy is a better one to me, wait for the licence and C-1 drill flow tests, a real shame the Aminex BOD did not do the same, but still it seems Brian Hall has his out?