Member Info for cperkin

Thanks Crusty, well if they can't organise a rig tender over such a long tender period then they need to be shot! If as many suggest the drill is dependent on the 25 year licence being awarded then indeed they will need to hold this back pending the outcome of current negotiations and all tied in with the $5.97 Million (funny that)

I think we are all sick to death of waiting!

Morning stonefold. I believe they would have looked at this during the development study completed by GE but the initial 8 inch pipeline into the national gas gathering infrastructure is the communicated plan. The pipeline is only 33Km long and so could be laid in a few months.

Phase 2 of the plan is to run an additional 12 inch pipeline once other wells besides NT-1, 2 and C-1 are drilled.

H1 closes at the end of the week and H2 begins Monday, so Rig contract RNS is expected is it not before the AGM?

Thanks, very clear & consigned to more waiting then. Still I am getting better at it ;)

Ah, ok thanks Drewky..C'est la vie

I thought they had a 14 day window so this Wed was the cut off point, or did I get that wrong. Not that I m really expecting anything now, otherwise surely they would have released it?

Yes it is Stock, SOLO have just under 10% of Horse Hill and 15% of HHDL,but there again till they get flow testing and drop the RNS then we do what we do best here...wait ;)

To put it into perspective though HH in the last CPR has 32 million Barrels of oil Gross and keeping the numbers easy with 10% thats 3.2 million barrels to SOLO
Solo however own with their 25% over 35 million barrels gross to SOLO @ Ruvuma in Tanzania and are waiting on the licence just like Horse Hill was.

Thats the real prize, but don't get me wrong, any money from Horse Hill oil sales will be most welcome!

It would seem and judging by the activity @ the Horse Hill site, I expect that to be the fist over the winning line.

Good luck all genuine holders.

Where's the Fonzie when you need him

Sunday, Monday, Happy Days,
Tuesday, Wednesday, Happy Days,
Thursday, Friday, Happy Days,
The weekend comes, my cycle hums
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well if it is the case, then they best get it agreed by this Wed if Aminex wish to present any progress at the AGM meeting on the 11th July..... I of course expect nothing of the sort.

Might be true, might not. Interesting since I believe the TPDC have not paid for their 5% buy back in as far as I know. Off set to the above, just another negotiating point on the side of the Tanzanians?

Not so sure it's that simple trrime, seems to me that the licence is part of the bargaining position for the C1 drill myself. Incidentally though the TPDC under the buy back in agreement still have not paid for their share, 5% if I remember correctly. So on one hand we have money owed to come in and on the other possibly money to go out.

One to watch steve for sure, but solo only own 7.55% of KN-1 as they did not take up the additional allocation so a max of $377,500 not $700,000 would be SOLO's liability if proven.

Quite agree Crusty, the KN-1 remedial though has certainly been a real drag, but there again in took what 2 years to get the GSA for that well. With the Zubairs involved and the $455 million from the World bank last week for Electricity generation and deployment, maybe the bulldozer will finally get things moving!

Maybe Crusty, makes you wonder what they are waiting for, late already compared with last year.

They never tell you that unfortunately Mr J. They did say that they will be detailing the forward plan for the next 12 months and expect votes on some resolutions based on that forward plan.

The accounts are for year end close so all history and no great surprises there Mr J, been a placing since and a statement that solo have enough operational money till year end (bar C-1 drill or worse some NR purchase)

Well I do believe it was March they were supposed to start the extended flow testing. I of course understand that they waited much longer than expected as a result of the Gov O&G licence being issued, but you might have thought between March and now almost July they would have had everything ready onsite to begin as soon as they received the licence.

For goodness sake get on with it!

Indeed they are NM and I think it is indeed quite telling that NR has said nothing based on his past performance don't you think?

Guess we will all find out soon.

Oh I don't know NM, you can easily argue that Aminex are closer than they have ever been to multi well production, but yes still a drill to go, thanks to the the brilliantly communicated change of plan (Yes sarcasm) in the delay to drill back to back and still no communicated progress on KN-1!

Still Development study completed by GE, Development plan submitted & communicated, 25 year licence applied for, Environmental approval gained, rig out to tender and a team recruited to deliver the plan. Just need some money and a licence - cough.