Member Info for CrustyPete

Oh and just for your future information Drewky I bought into AAOG at 6.6p and only two weeks ago so I am in slight profit. I have an average for AEX of about 1.9p, therefore more than a "slight" loss and I have had them for 9 years.....

You have been accusing me of being negative for months but now, two weeks after I buy some AAOG, the reason suddenly becomes clear.... What a joke. You are as bad as CP.

Rest assured Drewky I have absolutely NO intention of buying any more AEX until after a few questions have been answered at the EGM - and no matter what the price.

If it is me that you are accusing of jumping ship your accusations are very wide of the mark - In have not sold any AEX in order to fund my holding in AAOG and wont be buying any more either. Not until the BoD can offer shareholders some explanation and assurance of our current predicament.

You are really are scraping the barrel Drewky - your accusations are totally baseless but I can understand why you feel the need to resort to such personal jibes - you have totally lost the argument and, with it, the plot....

"their factual posts just sick of seeing them repeated daily with no other purpose than to destroy confidence. . Which it has done"

Well Drewky one or two observations. I have long said that it is my belief that nothing posted on these BB's make much, if any, difference to the fortunes of a given sp and I still stand by that claim 100%... Look at you statement above "their factual posts just sick of seeing them repeated daily with no other purpose than to destroy confidence...." That could just as easily be said about your own "campaign" of posting your "Factual" lists several times a day with the specific purpose of "raising confidence". And what effect did that have Drewky? None at all, is the answer.

You cannot blame posters for destroying confidence Drewky, the only people guilty of that are our own BoD; they are the ones that cause shareholders to doubt. As you yourself agreed, if the BoD were not sure of the date of delivering the circular they would have been better off not giving a date at all;' then worsened by telling us all that they could not release a circular until such time as the License extension was granted and yet here we are with an EGM already 1 month past their expected date and still with no License Extension. And that even ignores the C1 spud in Q4 2018 which now looks like being 5/6 months late.

And yes, I can hear you whinging, "but they are not in control of these things". Well actually they are totally in control of the "message" and it is their poor management of that message that has done far more than any multitude of posters to destroy shareholder confidence.

Well done TB, a few home truths never hurt anyone.

And what happens to the whole shooting match if the TPDC/Govt withhold the License Extension beyond March 31st...?

I am not suggesting that will happen but I am sure the risk hasn't gone without passing notice by many shareholders and it surely plays on the current sp.

Oh and before anyone points it out, I notice that I now have a "sell" position to my name. This was NOT intentional and just to counter it - and just for this post - I am now "Buy" :0)

Oh crikey, look all of the "brains of Britain" are out now, I feel cut to the quick !! Oooh no, I'd better run for cover under the wave upon wave of withering attacks... :-)

Lo643898, some people might even believe that you can't speak or write English.

Are you related to MRJackson by any chance?

No my apologies I amended my sentence but not correctly; It was meant to say words to the effect of

"the situation has been clarified by statements and comments by JB..."

I repeat "You do not know what you are talking about".....

Toddle on, guru.....

"Delays,broken promises,broken Heart’s, but that was NOT Solo’s fault."

Oh really?!?! So where were you when NR lied about not spending any more shareholders money on acquisitions, and not diluting the share capital any further etc etc

You do not know what you are talking about

I know what the announcement says CP, I have read it many times; but that has since been superseded by statements and comments made by JB..... Plus "Should the development of the Ntorya area " - meaning if the cost of drilling all 8 wells, seismics and associated infrastructure does not come to $140 million and over how many years? It is a catch all statement meant to tie up loose ends in the event of their not spending that $140 million. What chance of that?

Take it or leave it I am more than confident of my position; we will no see a brass razoo of that money even if it takes 4/5 years to spend. And what is the value of $35 million of credit over 4/5 years?

Sorry $35 million...

No CP, and that is exactly the point, it never will and that was made very clear at the AGM, it will be retained and continue to fund onward full field development.... The AEX shareholders will never see a brass rasou of that $15 million

I would agree whole heartedly with CP that Solo should get more than AEX for their 25% - multiples even - after C1 and the development license approval as after that much of what is now only 2C resources will become 2P reserves. Hence my continues railing against the derisory offer that the AEX BoD have been forced into accepting...

However I stand by my previous assertion that the offer that AEX has been given of $2.5 million of cash and £17.5 million of credit does NOT equate to a $20 million if that were to paid all in cash. An equivalent cash offer would be between $12 -15 million in my estimation.

So Solo can expect a multiple of $12-15 million post a successful C1 drill and Dev license - note the word successful.....

Mmmm, it evidently shows there is interest and confidence in the Region but offers a significant and influential competitor in attracting the support and attention of the TPDC and Tanzanian Govt... And Orca/Swala managed to get their TPDC "Claim" resolved! ;0))

It seems to me that they have two priorities; the first is to raise cash for the Ruvuma Development and secondly to divest of all "long term" projects. Long term projects are a "liability" in that they have no / minimal intrinsic value until they are near to monetisation and they have (sometimes) significant funding obligations.

To optimise the sp they need to have assets that they can "mark to market" easily (publically quoted stocks) and that are fairly liquid and have those that have income and hence value that can be sold. Before too long (after H1 IPO) all of Solo's portfolio will fall into one or other of these categories...They seem to rationalising the portfolio, simplifying it and making it easily "saleable".

I would not be at all surprised to see JF looking to drive his investment as high as possible before selling the company on and realising his and therefore other shareholders investments.

"Seen the light of day" - not quite Tanzania more like having recognised that "the writing is on the wall" and that is a pity really. To see the erosion of our financial position, Market Cap and ability to raise capital under our BoD's and senior executive's management....

I would agree though that a placing became "out of the question" once the BoD had allowed us to sleep walk into such a vulnerable and risk laden position. And now we have no choice.

I could guess CP, as you have, but actually I would prefer to make no assumptions at all. Events of recent months would go to prove that anyone jumping to conclusions would have been best advised not to....

Blimey, have we had another RNS since Monday in connection with KN1 remediation?!

Now all of a sudden we have successfully completed Stage 1 of the KN1 remediation programme and are now in the process of Flow Testing. I must have missed it.

What in fact did that RNS on Monday actually say?

"Aminex is pleased to announce that it has successfully carried out remediation work on the sub surface safety valve of its Kiliwani North-1 well and gathered associated pressure and fluid data. During this process, gas was observed at surface. The well is undergoing further testing and analysis."

No specific mention of "Flow Testing" and nothing about a "Stage 1" remediation plan.

Maybe Mr Perkins has got some inside information? Or maybe he just had a vivid dream about RNS's last night.

"Confirmation bias" ?

But yes he is right about Christmas. It will soon be here and the EGM, thankfully; two dates that even the TPDC cannot put off!! Pity about the License Extension though.

Only joking, after all, it is Christmas ! ;0)

Agreed willow but until I have the opportunity to question the AEX BoD on a number of issues that ensure that clear line of sight to income and capital security for the Operator I will not be investing in either. It is all very well voting for a Farm-Out but without the assurance of a License Extension that does not achieve anything...

" All sides are on the Yes vote it seems here."

I absolutely agree Drewky but I am reminded of that famous quote from Morecambe and Wise with Andre Previn .

"We may all being on the same "Yes vote" BUT not necessarily for all the same reasons..."

:0)