Member Info for cperkin

Sorry, I should of course add the KN-1 reduced flow rates of course down from an average of 15 scuffs to 3. As the single source of income this also had an impact of dropping the share by over a penny.

Well Kejoglo, the statement that I made and you repeated is correct or do you not agree?

As to why, I would subscribe a significant portion down to three main causes.

1.0 Two dilution events to purchase more assets - Helium and Horse Hill or H squared as I like to call them.
2.0 The operator Aminex moving from a back to back drill startegy to the development licence application after only 2 wells and not 3
3.0 The lack of a licence and thus a confirmed spud date for the C1 drill in Tanzania, delayed by the new mining act and also the current ongoing negotiations between the Tanzanian Government, the Zubair corporation and Aminex regarding the farmout.

They I would say are the main causes. So point one down to the BOD and pooints 2 & 3 down to the asset operators and the Gov.

Not much to explain, that was the equivalent price and high that the share reached in 2017 on the NT-2 drill and it did about the same on the previous drill. Question is, if solo still hold their Tanzanian assets, will it do the same again?

Well mojobojo, the than the odd 18.5p drill spike not much I suppose.

Maybe, seems most AIM companies operate the same way to me, most don't even have any proven assets and still dilute year after year.

Lets hope you have a Crufts winner in there somewhere Mousey ;)

They did last time in 2016 Kimosabi so I expect they will again if required. Of course if the Farmout negotiations with the Zubairs are concluded as planned and the shareholders vote acceptance on it then a placing will be the last thing on our minds for sometime to come.

No one can deny the dilution trrime and I am not defending it at all, especially when you consider his investments in Nigeria and Canada!

https://twitter.com/Adrianwfire/status/1014107039533027329

Could well be a well timed conversion by YA

To be fair trrime, that is the MM's not NR, 7.5% on just over a 1% dilution. Still only $1 million left on the loan draw down.

Had a little top up myself yesterday Dewky. Thought I might benefit form others hard work after all ;)

I see Malcy is off to do an interview today to review bucket list performance and any changes.

So news on that front over the next few days I expect.

Amounts to the same thing regardless trrime, we both seem to agree on a flow rate, just some difference in opinion on if any of that comes from the Kimmeridge or not.

Portland first to test anyways.

Not really trrime, it is based on the flow rates from the Portland during the last test and the independent competent persons report. The Kimmeridge however is very uncertain in terms of producing anything that could be declared commercial, that I fully agree with.

0 GIIP to the Kimmeridge that is.

I believe 300 bopd is the figure trrime but does only cover the Portland, since even the CPR that UKOG recently published subscribed 0 GIIP due to the uncertainty and lack of flow data gained in the last short test.

Whilst we wait for the initial flow test results from the Portland, an Interesting RNS from ANGS, so yes oil but the real question is will it flow over an extended test @ HH?

"Angus Energy's Chief Geologist, Andrew Hollis said "The significance of this assessment is that we now have demonstrable evidence of oil generation of good quality on the outer perimeter of the basin. This supports our conclusion that the Weald Basin Kimmeridge play is robust and the highest maturity will be found in the centre of the Weald at Brockham, Balcombe, Holmwood and Horse Hill.

"Based on the data, it is possible that fields centred in the Weald could produce even lighter, sweeter crude at 40 API. Comparatively, Brent Oil is 36 API," he said.

http://www.moneyam.com/action/news/showArticle?rnsAgreed=1&id=6036882

Hi Mjapac, sorry to jump in on a post to BD but it is worth noting the following (by the way no way am I defending the salaries)

Fergus Jenkins includes his redundancy (termination provision) and has gone anyway.

Dan Mailing however is a different case and will have been approved by the remuneration committee made up of Neil R and Donald Strang

However, also from the solo ARA

"Under the terms of the Ruvuma PSA, after the approval of a development plan, TPDC may elect to contribute 15% of development costs in order to obtain a participating interest of 15% in production and revenues"

Possible Leaf, ceratinly the mining act alone being only updated in April and impacting not only Exploration licences but also the 25 year development licence and ceratinly all rolled up into the Farmout negotiations.

From Solo's ARA

In April 2018, the government of Tanzania established a new Mining Commission to regulate and implement the provisions of the Mining Act. The Commission is required to approve the grant of new licences and approve contracts. The establishment of the Commission and publishing of the new Mining Regulations is timely for Solo’s Helium One investment with drilling expected to commence this year, and an application for a Mining Licence following drilling success. The industrial gas royalty remains at 3%, however, a 16% carry for the government and a 1% inspection fee are both now set in law.