Member Info for cperkin

Hope everyone is doing fantastic & making money, there have been some nice bags out there after all :) + of course a big WHOOT! for Friday.

Only 3 more months of exile for me and on the non work front I have almost completed laying 40 square meters of Sandstone cobbles patio, 5 ton of sand, 1.5 ton of cement and 4 ton of cobbles thus far. Boy have I got a tan and put on a little muscle!

Good luck out there folks and enjoy the England game this weekend!

Chris

Best wishes Cpt and great to see you posting!

Some very speculative posts on here last night and this morning.

There is no hint at all that an offer will be made for the company, never mind one @ 4p. Regardless that is why shareholders have a vote and it is not uncommon for any first offer to be rejected anyway.

Licence, unless we hear otherwise I see no reason not to be confident of a licence being issued, it's not as if Aminex don't already hold such a licence in Tanzania, it is supported by the TPDC and the gas demand forecast seems would suggest that in order to meet demand, one will need to be issued soon.

In the meantime, we wait for the below.

"As already announced, work is in progress on a farm-out of a part interest in the Ruvuma PSA, with the aim of accelerating development of the Ntorya discoveries. We expect to conclude this agreement, which is subject among other conditions to shareholder approval, EARLY in the second half of 2018."

Clearly not BD, some people need to take a reality check and post about the share and not make assumptions or personal attacks on individual posters.

I am entitled to post my opinion of "Strong Buy" based on an 11 times increase in 1C and 2C resources whilst the market cap is massively below the value prior to that 11 times increase. I conceed that a licence is required but as pointed out that is expected EARLY H-2

Quite right Useeme, my point was it was all speculation, as is your last post "you don't know like the rest, what will happen after the farm in." It has not even been concluded yet, so quite right.

Quite right Useeme, my point was it was all speculation, as is "you don't know like the rest, what will happen after the farm in." It has not been concluded yet.

mjpac is quite right to share their concerns on this BB, however the objective at this stage is not to "overthrow" the bod but rather to have the current resolutions worded in such a way that they are transparent and protect shareholders from further dilution without a vote.We are awaiting a formal response from the company before deciding on the next move.

As shareholders, we all want the company to succeed, it has some fantastic assets & with a licence in place are worth many multiples of the current market cap. I believe the note from the Aminex chairman below is the main catalyst for delivering this. In the meantime shareholders should not be complacent IMO.

"As already announced, work is in progress on a farm-out of a part interest in the Ruvuma PSA, with the aim of accelerating development of the Ntorya discoveries. We expect to conclude this agreement, which is subject among other conditions to shareholder approval, EARLY in the second half of 2018".

Good luck folks.

For the record, I am not interested in running solo, being on the board or increasing my involvement beyond the time I am already giving up, not even for their inflated salaries.

Good point mt, I am just going to post BD's on ADVFN, but if other shareholders would like to do the same on other platforms on behalf of the shareholders group it would be much appreciated, even better if we have a volunteer for each platform?

Thanks

Not much threat to funding circle, Wonga or anyone else there then.

Meanwhile what is the interest on the $1 million loan drawn down. They would in effect cancel each other out near enough.

Tanzania’s annual GDP growth rate averaged 7% over the past 5 years, making it one of the 20 fastest growing economies in the world. Deemand + Growth is what you need to consider.

On another note ref accounts, is everyone aware of the £749,000 loan to HHDL?

Pg36 of the ARA

The above loan outstanding is included within trade and other receivables, Note 12. The loan to Horse Hill has been made in accordance with the terms of the investment agreement whereby it accrues interest daily at the Bank of England base rate and is repayable out of future cash flows.

Hi Phillo @ an AGM, there is the vote on the resolutions, a presentation by the BOD on the "Forward plan" and a chance to ask questions.

As BD has highlighted we have requested amendments to the resolutions. The BOD acknowledged our request but are still to formally respond to the points. EGM is the next stop in the process with resolutions put forward by the shareholders so the above not be satisfactory.

It's an interesting point that you make. It is quite possible that one of the actions being considered is to sell Horse Hill and solo's 15% share of HHDL or part off post flow tests. Take the money for the 3 million barrels of oil and spend it on developing the 35 million barrels of oil equivalent 1C &2 C @ Ruvuma into production.
All dependent on HH being declared comercial and a 25 year development licence issue by the Tanzanian Gov however.

Amateur stuff Drewky, I will dig out last years standard Q issue, now replaced with a higher spec and a great new LASER pen and X-Ray watch. I will see if I can let you have them at the AGM meeting, you know the one that concerned shareholders attend.

Still looking to see if I can get that X -Ray machine into my van myself. In the mean time the legal counsel work continues.

Aminex the operator of SOLO's Tanzanian assets remain on Malcy's bucket list although he said nothing about them in todays interview, maybe not surprising bearing in mind the ongoing (seems for ever) negotiations.

https://www.malcysblog.com/2018/07/london-sout-east-interview-rockhopper-tops-malcys-2018-interims-bucket-list-gains/

And Aminex remains but not a bean spilled.

https://www.malcysblog.com/2018/07/london-sout-east-interview-rockhopper-tops-malcys-2018-interims-bucket-list-gains/

And remove the spaces of course ;)

soloegm123**********

30 bopd even @ $55 a barrel (todays spot price is $74) is a straight Profit after recovery and transport costs of almost $300,000 a year for solo, so better than nothing. It would also as an asset add over 3 million barrels of oil to solo's balance sheet with a 50% recovery rate market value of $45 Million @ $55 per barrel.

But yes Ruvuma is much, much bigger