Member Info for CrustyPete

Yes Cperkin, accepting youf figures a discount of about 50%.... whixh with all the unknowns and a never ending wait for a License for well over half the assets, pretty generous?

AEX has an MC of about 30 m higher - again about right taking in to accout the Farm-Out offer..?

Either way round Drewky if we are awaiting Government approval for the Farm-Out that will be the final piece of the jigsaw whether it comes with a Iicense or after.... it will make no difference on the timeframe at all. The difference is if they are both to come together we could be waiting longer for the License approval than if the two things are separate.

I am not sure that is a conclusion that ypu can draw. It is a possibility of course but it vould just as easily be that it gets awarded ri AEX ad ghe current operator and then the Govt have to agree to thr change of operatorship subsequently...

But hey, why sweat the small stuff. The License is the important thing in which ever form It comes

I believe that the License is issued to the Operator only.... who joins the partnership is a separate issue. Will the License be issued to AEX or APT?

Interested BG? Not without a License Extension..... ;0)

I do too CP, but I am just saying, as I have done endless times that using the AEX deal as a yardstick is flawed in my opinion - unless you expect Solo to also be looking for a "cash and carry" deal. Personally I rather hope not. But then will there be any other buyers except for the Zubairs? I thought the AEX cash and carry deal was derisory but that didn't stop it happening.

As the C1 drill is now seriously late I would not be at all surprised to see the Zubairs bring forward drilling on subsequent drills (C2, C3 etc) and if doing so before EPS comes on stream how are Solo going to cover the costs? An early and forced sale? A cash and Carry deal with the Zubairs?

Only time will tell.

Anyway one and all, I am off to France for a week (thought I would get in in before they concrete over the entrance to the Channel Tunnel). I hope that I won't be on this board again after today until April and let's hope I get a pleasant surprise upon my return. KN1 news? License Extension? Here's hoping.

Good bye and good luck all.

Exactly CP , so just because AEX have been offered pro rata $2.5 plus $17.5 does not mean that the "value" of Solo's 25% is "worth" $20 million - unless you would be happy to take $20 million of "credit"....

They cannot distribute $20 million of credit to shareholders!!

I must [point out CP, yet again that I fundamentally disagree with your continued assertion that "the floor is set at $20 million for the 25% as per the current JV offer."

The offer is for $2.5 million and $17.5 million of credit that can not be spent on anything but Ntorya. Do you seriously believe that the cash equivalent would be $17.5 million?? I don't.

Actually Kejoglo I could not disagree more; you say that "The fact is that Solo is in the business of selling the family silver!" YES that WAS the previous strategy and it failed dismally for all the reasons that you have suggested. That is exactly why the new BoD have changed that strategy and are concentrating on "production" - a total volte face.....

Will it work? that is another issue and only time will tell - but as I think you would agree the failed strategy of the previous BoD had to change and this RNS explains what that change is.

In short Krusty it means that we will be buying assets that we can borrow against so that we don't have to sell assets nor dilute shareholders.... though I remain to be convinced about either of these and particularly the latter ;0

And does this mean that it is no longer the BoD's intention to sell Ntorya and distribute the proceeds to shareholders? Again, I suspect this to be the case, otherwise that 5000 boepd will be a tall order anytime soon...

All seems very rational and logical though, of course, for shareholders words are fine it is the execution that will move the share price.....

Only one comment the BoD highlight that in an attempt to take advantage of the European Gas security issues they are looking to concentrate on " North African countries with benign jurisdictions and attractive pricing dynamics ".....

Well firstly there are an awful lot of companies already chasing those very same rainbows AND what is more "North African countries with benign jurisdictions"?? Isn't that something of an oxymoron?

Though to be fair none are any worse than Tanzania it would seem....?

Reasons to be optimistic though in my view; it certainly gets rid of the issue I raised only yesterday about Solo being a "Portfolio Investment" company a strategy that has, to date, never been proven to offer any value to shareholders because of the previous BoD's inability to prove the concept. It has never worked, so a change to being an operator can only be a good thing in my view. At least that is a tried and tested formula - it is all down to the BoD's abilityto execute the "plan".

Yes CP 8p but they did rise to 15p shortly afterwards so I sold half and was on free carry for those first few 100k shares. And despite buying more on the way down from there did manage to bring my average down considerably in 2016 with buys at around and below 1p including (too few) at 0.65p. Mostly in my wife's name. Thankfully!

And John if you think things look bleak now you should have been here in early 2016 when the price was 0.65p.... now that was bleak.

Well I have been averging down since 2010!! From 8p down. During that period i have been up £300,000 and down over £100,000. Of course I now wish I had taken my profit but no point crying over spilt milk.

I am confident that before the years end I will be in profir yet again....

Brave words eh? Only time will tell.

Am understandable reaction from those not prepared to wait John I would agree but I do think that once the penny drops there will be some brave souls that will take this as an opportunity to jump onboard.... I believe that the sp will recover from here (albeit only marginally) until and unless we get close to the next "long stop" cliff edge.

Yes, there is a 1.25p worth of downside here (at the very worst) but probably 3 -4 p worth of upside on the License extension, Farm-Out completion and C1 spud date (irrespective of the outcome). That seems a pretty good risk / reward ratio to me - particularly if you believe, as I do, that the License Extension will, eventually, come on which basis that downside is somewhat more limited.

AGM in Dublin in May?

Sorry, EOY figures = April

EOY figures should come with a KN1 update and plans for the next 6 months.

Agreed CP and what makes anyone believe that little old Helium 1 will have any greater success in that regard than AEX and the Zubairs....

Matherdj, how stupid of me, apologies one and all for even suggesting such heresies....