Member Info for cperkin

For clarification, I am not expecting an increase in the 25% of 5TCF regarding solo's stake only the mean, unless of course the deeper target offers something as well - it is after all an Exploration well. It's all about proving up the 5TCF GIIP resources and flow testing in preparation for production after all. According to the statements by Aminex, not only have the TPDC approved the development plan in principal but the further 5 wells will be self funding from the production revenues from NT-1, NT-2 and C-1 - providing the later of course is successful, but then I expect the larger gas sand targets @ C1 to have a positive COS, NT2 was quoted as 70 odd % prior to the last drill. So once the first 3 hit production it is a demand led free ride from there on in.

Some statement considering the last drill + CPR moved the mean from 153 BCF to 1870 BCF But the upcoming drill targeting the thicker sand body and multiple targets is going to = 0 BCF increase Mick. Are you sure about that?

+1, hope you are doing ok and will drop us all a line on the BB sometime soon. Chris

So to make sure I understand, you do not expect an increase in resources as a result of the C1 drill then Mick, despite the thicker sand body target and the deeper Jurassic target?

Just a reminder if anyone has not had a listen to the recording from the meeting between 3 shareholders and the Bod, you can get your copy from the below. email Chris Judd for your copy. chrisj@buchanan.uk.com

Mick Well they are your assumptions but with a 25 year development licence in had I also will be very interested as a shareholder to see a fully risked NAV for the asset. Of course as I noted earlier, if the farmout is concluded @ Aminex then a current cash value is automatically subscribed to solo's 25% short term regardless. I guess it's all dependent on the Domestic gas demand against those ready and able to supply the market on competitive terms, on shore is ceratinly the govenments priority as per their own GAMP report.

Thanks Mick, The "Other" has indeed confounded me and I thought initially it was due to confirmed demand from the GE study, but you are saying is appraisal led and not demand led? Modest compared with what? when you have a market cap of £12 million, it might not appear quite so modest?

dunder with the insults as per usual, impossible to have a grown up conversation with you it would seem, anyone would think you were hiding behind a keyboard. I do believe that the 2017 capital expenditure for Sandbridge was $247 million Aminex was a small % of this, hence my query as to a suitable comparison, but do carry on old bean.

But isn't the other 681 BCF also classified as 2C along with the 81 BCF?

Thanks for the clarification Crusty. C

He did not mention anything regarding Aminex or SOLO on that front Matherdj, only that if an offer was made below "Fair value" that the BOD believe it would be better to see Ntorya through to production than sell on the cheap.

Quite matherdj, the Arab Zubairs seem rather interested in Ntorya and the Ruvuma basin after all, so I do wonder if solo will be holding the full 25% by the time the first 3 wells are put into production and of course with any conclusion to the current farmout deal between Aminex and the Zubairs, solo's 25% gets a cash valuation for solos 30 Million barrels of oil likely contingent resources (just under 0.5 TCF)

Mick that was not my intention and clearly your assumption. The development plan in fact shows 8 wells, with the first 3 feeding through an initial 8 inch pipe. There for all to see in both the solo and Aminex recent presentations. Screen shot provided for your benefit. https://www.dropbox.com/s/hdt696xfzhw8xhq/Screenshot%202018-02-06%2020.57.55.png?dl=0

Sorry Mick you seem to be making an assumption about what I was suggesting. Is 30 Million barrels of oil likely contingent resources correct or not Mick?

"Well... I’m not sure unfortunately" I agree Mick, no one without inside information could be. Lets see what the Aminex/Zubair farmout negotiations bring to the table. It would be a blinder if the 25 year development licence is part of the negotiation and of course the next step out dril is targeting a much larger part of the same fan based resevoir system. All to play for imo - 0.5 TCF of gas for solo to date and a market cap of 12 million....never mind the extended flow testing about to start at horse hill.

Fat fingers...RNS # 8540D "Based on this independent report undertaken by an industry leading consultancy, Solo now holds net resources of approximately 467 bcf Pmean GIIP, resulting in excess of 190 bcf (over 30 million barrels oil equivalent ("mmboe")) of most likely contingent resources net to its 25% interest." Note likely contingent resources I grant you but still correct.

Morning Mick, up early every morning me. I was simply repeating the RNS #

No point comparing companies that have 100's or 1000 of million of $ budgets against Aminex. Politics and Cash have always been the issues here and we are waiting for exactly that to be resolved yet again with the Zubairs and the farm out and the 25 year development licence.

Reading the post again matherdj, Crusty is actualy saying the licence + GSA required, so my first post was wrong then? Regardless, the 25 year development licence is the holy grail & many believe it is tied into the Farm out negotiations @ Aminex with the Zubairs, so the sooner that concludes the better for all shareholders.

You might be right matherdj, but I picked up on it from Crusty, who seems to know his C's from his P's ;) "particularly after the Development License as some of the Ntorya "resources" would then become 2P "reserves" (assuming a GSA)." C