Member Info for DPLSOLO

We came for Ruv Basin, we stayed and invested further due to the success of NT1, NT2, 2D seismics and gas sale agreement, Put this one to the side lines and held for many years waiting for CT1 and 3D seismics, farm out and final production.
While all that happened we’ve watched NR attempt to purchase other projects to allow Solo to generate money and have enough funds for when the day come solo would have the funds to pay for it.
Millions of dilution spent on other projects which amounted to not a great deal.
There was the Purchase of pot and pans minerals
The DL Gatwick gusher
HE1
Then came the idea is 20:1 share consolidation - worst decision of the all.
The pointless change of name.

The company has been ran into the ground! But we always has Tanz to fall back on, impossible to mess up. So I thought.

I’ll get to my point, Some projects failed but HE1 didn’t. HE1 investment was to help create the millions needed for Tanz. MJAPAC no.3 great question, where has this money went.
Why would gniess need to take a fee for this sale, what did they do?

NR attempted to find the funds TR has legally stripped the company of every penny he could.

We will all receive a letter to respond to allowing us to accept or decline the offer ?
BigD, if you’re still in contact with NR can you see if he want to return from retirement ;)

Mrc - I don’t care how they want to grow the business. I’ve had no interest in all the noise and BS they spoken about regarding changing the direction of the company. The company was Ruv basin - that it! Every other project Solo have, scir have been involved with since 2012 I’ve had no interest in - Tanz is where the money is!
If the directors wanted to go down a different path they should create a different company.
They were given Solo and stripped it dry for their own personal gain.
How it legal.

Where has the millions gone? Millions in cash has left the company.

I’ll be really honest - you’ve done my head in over the past few years posting on this board. All they way down from 5p to 0.4, should of listen. Never thought we’d miss out on tanz. You were right.

25% = $1billion - we get £3m after spending >£20m
Solo - NR - is the reason why The NT1 discovery was made.
NT2 - they discovered more gas but pressure was to much for the well hear
Improved seismics
CT1 is 100% guaranteed to be a success
With a good chance of oil.
After all this the LTH get 95% loss. Wtf.

Steve - we’ve been here long enough to know the next drill is not going to be dry.

It’s a deal that keeps LTH locked in (are they going to sell at 95% down) there is zero upside from tanz. Makes no sense, £16m on only if there is exceptional results. Exceptional results should have seen us reach the original NR prediction of £100m MC.

I’d rather lose the last few quid left to stop the BoD and Genesis make their millions.

https://wp-wentworth-2020.s3.eu-west-2.amazonaws.com/media/2022/06/Proposed-Ruvuma-Acquisition-Presentation.pdf

Two key words stand out wet £16
‘’Just’
‘On in the even of Exceptional performance’

Wtf!

100% voting against this.

I’ve around 1million shares. Not much £ today but all purchased many years ago, long before the 20:1 consolidation.

Minimum £20m and 5% free carry.

I’d rather they issued £5m in new shares and seen the drill through. At least then we would be part of the drill.
Now it’s just been given away, they have risk but no upside. Must be the worst deal possible.
Zero upside to current investors and who in their right mind would invest in these guys after watching their performance on this share.
Wrong! Just wrong!

There is huge amounts of gas in Ruv basin and potentially oil - that’s now been given away for next to nothing.
The BoD will still pat them selfs on the back and cash their bonus.

Did they miss out the section stating a 12.5% free carry !!!!!!! Ffs!
After all of this we don’t even get the upside of the next drill and results from seismics.

The BoD have managed to sell off all our NR projects and while wiping off 90% of the SP value.

thanks.

MCR - do you ever give it a rest.
You must have some serious life issues to be positing on this board every single day. Do you watch the board Every second of the day waiting to write your words of wisdom.
Get a hobby, play some golf, climb a mountain, go for a bike ride, anything!
You obviously have issues at home, and you find this board as a place to vent your anger. Why live a Negative life, why wake up each morning and before you put the kettle on you’re there in bed looking at your phone getting all excited because you and write some more negative posts on this board. Then refreshing the page all afternoon and evening waiting to post.

I just don’t get it, We all know where we are with this share, LTH have lost a fortune and you’re enjoying it. Your daily pleasure is to try and get a reaction out of people on this board. Nice life goals.
If you put this level of effort in to tinder or grinder (I’m not rude enough to assume your sexuality) you might get your self some, then in the morning you’ll have something better to do than look at your phone.

Completely agree BigD let’s commit to this drill. That’s why we all came here in the first place.

My worry is, they sell 20% and retain a free carry on 5% is what will the Board do with those funds? The great magic trick called ‘Solo to scirocco’ how to make money disappear is plain sight.
Once upon a time Solo were fully funded for the 3D and part of the well. Now we’ve sold projects but now don’t have the funds for all of the 3D. We’ve been screwed over, it was hard to watch NR dilute and spend money on multiple failed (with the odd ‘success’) projects but these guys have just legally done us over.
Our best option is to hope the funds magically appear for the 3D and those results have a huge positive impact on the current share price. Then issue even more shares to cover the cost of the well, the well is a huge success hitting the sweet spot for the gas and hit the oil.
We’ve had dilution after dilution, 20:1 consolidation, some more dilution all for NT1, NT2 and the upcoming CH1 everything else over the years has just been smoke and mirrors to make it look like the board are doing something to allow tanz to progress. Us shareholders have significantly paid the price. I really don’t want to take my chances of breaking even by these guys taking the funds for the 20% to spend else where. I’d much rather see 50% more shares issues to fund CH1 and take the risk of us hitting the sweet spot. The only way I see money invested for NT1 and NT2 breaking even never mind making profit.

Anything less that 10x from here would be a disappointment.

We will not even break even for how much Solo have spent in tanz.

I’ve not kept up to date with the finances, surely they have the funds to cover 3D and one drill?

Why why why even suggest selling 1% of tanz. Gas prices up 300%…. They’ve already discovered gas at NT2, we have 2D or the reserves they are about to start 3D and CH1 drill.
I’ve owned shares here since before NT1 and I would be gutted if they sell 1% before CH1 drill.
The reason why I’ve never sold at a loss over the years as I’d agreed with myself to leave them until NT2 now called CH1 is drilled.
If 3D and CH1 are happening soon I don’t see the logic of chasing new assets

Sorry I’ve really paid any attention to this for a while, how have they managed to s?!w us over to where we only have 4% of HE1 not 10% for the originals £2.x million investment made years again.
HE1 are nearly at at £50MC, would give us £5m, a nice profit (solos first ever profit) but instead we have not even broken even.
Can’t make it up.

The last time that happened, NR filled up his pension pot, did a 20:1 consolation, issued loads more shares and walked.
Leaving the LTH 20:1 down as a thanks.

Trime, pre appraisal drill and 3d seismic survey I’d vote no against anything below £100m

It’s cost us £20m so far, that doesn’t take in to account the actual cost to the share holders over the years with the amount of dilution that has constantly reduced the worth of our holdings.

£20m might cover the investment costS in Ruv but no where near the actual cost to the company and its shareholders.
Also NR never went through years and years of pain just to break even.

The recent Aex farm out proves we have a significant stake in an existing asset.

Oh well, not sure why they decided to change the name... maybe that’s always been our problem.
So Low .... maybe that put people Off

Good luck! Let’s see the exponential SP rise.

No sale of Ruv for <£150m

That was a surprise. Didn’t want to check the SP earlier today after the drop yesterday.
Nice 50%, decent buys.

Just 110% tomorrow to break even

Why sell any? Secure a loan to fund the drills and seismic.
Unlock the full value of Tanz, Solo don’t have a good record finding other successful projects.

Yeah roob getting back to 5p is only getting back to level ground. That’s when the fun begins.

Hope we don’t see an RNS from solo today, they spend all night getting one ready for 7am tomorrow then we can enjoy another 100% rise.

Today should unlock a stream a RNS.
Drilling strategy
Seismic strategy
Gas sales agreement
Unpaid invoices for K1N
Funding strategy for our 25% share.

Hahaha
Well, If we finally get the 6p old = £1.20 new then it would be rude not it ;)