Member Info for HereforHemo

There's obviously people who have gone short like Whitenight on here. He and others could well be right saying this company is sham. Others might think like I do that the data logs don't lie, lessons have been learnt from the first drill and the 2 million spent on this sidetrack will successfully produce oil, and lots of it. Any sensible investor will ignore this bulletin board, do their own research and come to their own decision.

Mumbo rather than listen to anyone on a BB I suggest you go onto their website and have a look at their latest presentation before deciding whether its for you.

Roger I agree, they'll have done it by now.

With the information gathered from the last drill I see no reason why the side track is not going to be successful. They appear to have been very conservative to ensure they'll steer clear of any skin issues. I'm hoping for an initial 200-250 BOPD on the initial pump before increasing to 700-900.

With the portfolio they have Beacon could well become a very serious player in the months ahead with at least two new drills early next year.

I'll be amazed if this isn't a lot higher by the end of the week going into sidetrack results. GLA!

Fort I think they have already activated the exploitation agreement. Scott said they hope to expand on it by the end of June, whereas the energy minister stated it'll be signed off by the government by August.

Lord I think to fully derisk Cascabel they are looking at a spend of £30 pa for 2024 and 2025, so funds are required if they choose to fully derisk the asset before a sale. They also require funds for ongoing licence costs and ongoing expenses, so perhaps need £80-100m to cover them at a guess.

Funds can be generated through selling their Cornerstone shares, highly likely imo, but they would still need to generate around £80m, probably through offtake agreements for Cascabel, although non core asset sales are still on the table through the Strategic Review.

Or they could sell a direct interest in Cascabel. Or all of it, or indeed the whole company (although that looks highly unlikely at this stage)..

That's just my opinion of the opinions available.

Spreadex have been very consistent with their selling in 10m blocks. Looks to me as if they're done. Blue days ahead up till results imo. Should rise above 15p on successful sidetrack with 30p+ on anything over 700 BOPD, in my opinion anyway. GLA

Anything between 100-250 would be a great result. A we need at the moment is to know the sidetrack has worked.

Additional volume should naturally come when the ESP is installed. 100-250 BOPD substantially derisks the investment and the SP should reflect that.

Difficult to know buy I thought the 100m was probably a sell, it certainly did nothing to lift the price. If it was a sell I'd say they were pretty much done. Next couple of trading days we'll probably know for sure.

Sheep always great to see people making a nice return, well done. I took my profit out of SOLG yesterday and entered this at 7, which I'm happy enough with. Going to ride it all the way to final results. If its as good as they think it is should be looking at 700-900 with the new pump. Fingers crossed!

Rhein Petroleum managing director Peter Appel

"The natural porosity is good. We are confident that the new short branch line at the end of the well will result in a flow rate that reflects the quality of the reservoir"

" Due to the excellent reservoir properties and known data, we continue to be convinced that Schwarzbach 2 can produce significant quantities of high quality domestic crude oil"

A little patience and serious money can be made here.

Been watching this for many months. Just bought 13k's worth, a little later than I wished but still substantial upside possibilities from here. GLA

Fort I would suggest the CGP shares would command a far greater premium than that for such a stake. I agree the financial update could be multi faceted and even a blind man should see this will all be sorted this month.

Red I wouldn't worry about what people post on other boards, or this one. I

f you believe SOLG will run out of money, simply sell your shares if you own some, or don't buy them if you don't already hold.

If you believe they'll sort their balance sheet out this month, as I do, then hold any you have tightly or buy some.

You'll either make some money or you won't. Personally I'm doing OK with my SOLG investment but expect to do far far better in the not too distant future. Each to their own and all that.

The only point relevant with SOLG execs at this stage is that for the first time they are all unified and singing from the same hymn sheet. They all want either Cascabel and or the company sold.

Whether the majors wait for Cascabel to be completely derisked or they take the opportunity to buy it substantially cheaper remains to be seen. These short on the stock will say it'll take years, those more bullish will say it'll be soon. Only time will tell who's right.

BBG we wouldn't and I think we are.

Whilst I get peoples frustration waiting for news, my take is this. The longer we take the less likely it is thar it'll be a simple offtake agreement and the more likely it'll be someone taking a direct interest in Cascabel, or buying it, or indeed the company.

Eloro thanks for posting.

As Willem says "SOLG should be trading at $1bn"

Vastly undervalued but it will rerate!

The blackout period mentioned by Scott didn't last long. Since they bought shares tangible proposals have been received meaning they are now in an extended close period. That's my understanding.

Red you may well be right. One thing is for sure, we hear what's been decided in May.

Divestment of assets, offtakes, earn ins, partial or full sale of Cascabel or the full sale of SOLG??

I for one can't wait to see what's made the SOLG execs so happy and bullish. Whatever it is, it's going to be very good news for us holders. Strap yourself in!

The much maligned Strategic Review will, in my opinion, be concluded within the next 25 trading days.

Its purpose was to evaluate and pursue value enhancing opportunities for the company.

1. A spin out of assets other than the Cascabel project.

It's my belief that all assets with the exception of Cascabel and Blanca Nieves will be deemed as non core, and will either be sold off or have earn in agreements relinquishing overall ownership. There are various things that make an announcement on this exciting. Firstly, it's my understanding that that Porvenir would not be available to potential suitors on it's own. All non core assets would only be available as a block. As the Ecuadorian government is set to withdraw concessions that are unused it makes perfect sense for SOLG to either offload them or arrange JV's to finance them. Furthermore, with the mining cadastre being closed since 2018, the only way for companies wishing to enter and mine in Ecuador is to arrange a deal with companies like SOLG who have already been granted the concessions.

2. The direct or indirect acquisition of an interest in the Cascabel project.

Following the revised PFS I believe there has been substantial interest from multiple entities in taking an interest in Cascabel. It remains to be seen whether these are further offtake agreements, earn in agreements or an outright sale of the asset. Personally I don't think they'll be offtakes and if it becomes a gold play I think Barrick are most likely but if it comes down to copper, with a high level Chinese delegation recently meeting with the Ecuadorian government, all things lead to China.

SOLG need $60m to fully derisk Cascabel,less than $40m if they sell the Cornerstone shares at a premium. The exciting thing here is copper gold and silver is only going up, every milestone in derisking Cascabel adds more value, and I firmly believe SOLGs financial future will be very much secured within the next 25 trading days. In securing that finance I'm pretty sure that will include a major announcement regarding Cascabel.

Traders can take their 10% but for me this is a 400, 500, 1000% opportunity over the coming months.