Member Info for Jettydog

The loss of KN1 has damaged the share price as that was our sole source of regular income. If investors can see a good future revenue then that will build market cap. I would like to know why the compression on KN1 has not been deployed to get production back up. HH should be producing very soon and that revenue will be very welcome. When we have the full accounts and flow rates on HH we should know a lot more.
Regular income will buy us time to allow the growth in the asset base in the next year and get the shareholders the returns they expect.

It seems pretty clear from the RNS:
"Helium One is now moving rapidly towards drilling of the exciting Rukwa Basin natural helium play and is fully funded to prepare for that work, which could be underway in late 2018."
Then for the drill:
He1 also reports that negotiations are at an advanced stage with an experienced oil and gas group from the USA who wish to drill the Rukwa Basin project, commencing in Q4 2018. A draft Memorandum of Understanding has been prepared for the initial drilling which would be conducted on an earn-in to equity basis.
Now the question for the AGM is will any of that equity earn-in come from our piece of all from the remaining He1 piece? What I do not now expect is any dilution from Solo to pay for any of this.

Hi Crusty, exactly what I want the Board to outline at the AGM. I want dates and likely impact on our annual revenues.

Yesterdays issue of shares in inevitable until we have a regular source of income. KN1 was providing that until the flow stopped, we were promised compression to fix the issue by Aminex 6 months ago and we are still waiting! If HH can replace or exceed KN1 then that will benefit the market cap and stop any future dilution for day to day stuff. By the end of 2018 the Ruvuma EPS should be underway and a second revenue stream added. I shall be asking the BoD to confirm the above at the AGM.

The reason I am still here and why I spent time and money going to the meeting yesterday are the assets the company owns. The best thing Neil said yesterday was if we don't get a good enough offer for Ruvuma we carry on developing the asset even up to a production level if necessary. It would cost cash and potentially dilution but I will happily back the board because the result would be I believe spectacular. Same with HH, IoW and maybe even Helium One. The real danger now is we divest our assets for significant less than they are worth.

Here are Simon, Chris and my notes from the meeting: 1. Audited accounts by the end of this month 2. AGM likely to be in July 3. Farm out deal has to be a good one! 4. Farm out or divest will be put to shareholder vote 5. Aminex "Vendor Collaboration Agreement" ceased in 2015 6. Helium One a full update will be made by the end of the month 7. If an open offer occurs then by AIM rules it has to be made available for 21 days 8. The Board will consider asset updates on the Solo web site half yearly 9. More transparency regarding cash burn and G & A Neil asked what sort of backing we had and 15% was clearly way more than he expected, he also noted the fact we are well organised with emails and holding details. Clearly we own this company and can replace the board if necessary. As it was a closed period nothing could be said about operational matters other than what was already released by RNS (e.g. HH). The key messages were more transparency in internal Solo accounts and "No More Dilution"!

What are the views on the AEX board, what is being said there with their share price similarly depressed?

I repeat the call I have made several times to all share holders, let's get rid of him, AGM is due in June.

Nearly right http://pimpandhost.com/image/88873426

I have a small investment in UKOG and I expect an HH flow similar to the previous time so: HH Flow = 1,600 boped Helium = Low expections, I would be happy with �10 million Ruvuma = If there is 1TCF in the ground this has to be $100 million+ all day long.

Based on the exercise I ran in January we have over 5% it should not be impossible to get to 10%. However I repeat my view that Neil's recent dilution strategy is more about securing his position rather that shareholder value.

I have been focussing on when we do finally sell our Ntorya asset. An agreement will be made and a chunk of cash will make its way into Solo's bank account, maybe in one piece maybe spread payments. Neil has spoken about special dividends etc. and I have been thinking how I would approach this. In the wake of the recent dilution I personally don't trust Neil at all and I would not want him to have any control of my money. I would therefore like the board to be mandated to release the biggest percentage possible of any cash reserve to the LTHs as a special dividend. Given the current market cap I would expect it to be a multiple of the current share price. What do the current LTHs think on this, how much do we take out the company and how much do we leave it for Neil to spend? Is there an option to issue clear instructions to the board on pain of replacement to mandate any of this at the AGM?

Hi Crusty, It all depends what we are selling. If there is a Trillion cubic feet of gas in the ground then under the current deal with the TPDC that gas has a value of $3 Billion and Solo own 25% of the reserves so $750 million. Now that will be adjusted down by factors applied around the 25 year term of the devopment license, the cost of extraction, possible re-negociation with TPDC and other partners... So any figure for selling our share needs to be assessed in that regard. At the moment there is no revenue so the market is "sitting on their hands" from a share value point of vue, after C1 there should be income and quite significant income given the rapid production plan. Whole new ballgame. Returning to your question if the asset is developed properly I see significant future value and for such an asset a figure well over $100 million should be considered.

The AGM will be here in a couple of months. I voted against re-election of NR's cronies on the board last year but no one else did. If we the owners want to do something about the way the company is run this is our best opportunity. The share exercise I ran a few weeks ago got just over 5% of the stock wanting a change (mainly due to Bigdouble and friends). Are the people here just mouthing off or are people prepared to do something? I had to laugh at the comments when I suggested removing NR from people saying fearfully who could we find to replace him. It would be hard to throw a stick in the City and not hit a more competent and open CEO who could do a better job for the LTHs. Anyone making money here outside NR?

Yes 14.6% of an asset worth anywhere between �100-250 million for 3% of a far less valuable asset probably a third to a quarter of that. How does this add to shareholder value and why would NR do that? Because it secures his position should a EGM be called and that is what is most important in his calcuation. All holders have lost value and no doubt he was celebrating when the deal went through. Three hours on a Tuesday evening ffs.

Hi All No new responses over the last 24 hours so we still have 5.31% of shareholders in favour. CP got it right earlier spending �650,000 on 5% of HH and giving away roughly $3million of Ruvuma was highly suspect. I believe it was about safeguarding his position and **** the shareholders. The warning and action point is now, don't cry foul in 6 months when it will be too late. If we can get rid of the board there are plenty of options who would build real shareholder value. If you would like to replace the current board please send an email with the subject Yes (or No if you don't) and in the body on one line please put your name, shareholding and a contact email address to solo_bod@gmx.com No individual name, shareholding or contact details will be reported.

Hi All I didn't post yesterday due to weather issues but with only four new responses in two days this is dying a death, we have 5.31% of shareholders in favour and I believe we need nearer 20%. If you haven't emailed please don't then moan about the board's actions. If you would like to replace the current board please send an email with the subject Yes (or No if you don't) and in the body on one line please put your name, shareholding and a contact email address to solo_bod@gmx.com No individual name, shareholding or contact details will be reported.