Member Info for Phillo

Cannot see from the trades why this is down today.

Hi Alfie In was caught up with the Beaufort Securities scandal but my shares were released and transferred at the end of September. I am surprised that you still do not have access to yours Sorry to hear

I noted the following on the AEX RNS relating to the Kiliwani North-1 remediation work - "The Company believes that there is a fluid column in the well and is analysing the operational and testing data" Any thoughts on this and why they thought it worthy of inclusion ?. GLA

The strategy is to monetise the assets and that's what they are doing. I have always had the thought that Helium may back in to Solo at some stage and clearing the assets in to a cash shell would be consistent with that approach. If UKOG can make IoW work, then Solo has exposure there but in a more liquid form. GLA

Hi CP Many thanks for the feedback on KN-1. Much appreciated.

Hi CP Unfortunately I cannot make tomorrow night. I am sure you have your own questions to raise, but I wondered if you could ask about KN-1 and the restoration work. I must be close to a year now that we have been waiting for the operator to resolve this. I guess we all have our own thoughts why, but I would really like to know from our BOD what is responsible for the delay....is it some form of consent required from the Tanzania government or agency ?. AEX have no funds to finance it without the farm out being concluded ?....or some other reason ?. The key question is what does this BOD propose to do going forward to ensure they have more control over our JV assets ?. It's just ridiculous to rely on the operator and for our BOD to be held hostage by them ...whatever the reason may be. I appreciate that we are an investment company, but even investment companies need to become more activist when our only income stream is disrupted. Good luck for tomorrow night

Yes, an interesting day... There was a 250k share trade at 15.34. Looking at the sp movement afterwards, it may have been a buy at 27.25p. The sp may have been walked down to fill it...

Hi EB So they cannot be placing shares or they are being flipped at a loss.

Hi BD I thought the placing was at 2.25. The CLN was at 2.06 (I seem to recall)....do you think these are the overhang of the CLN’s already exercised before SOLO cancelled the arrangement ?

Frank...are you the 5m buy at ARX that started it all off 😎

Ian, Totally agree. GL has done a good job to get us here. For whatever reason there is an algo trader in play here and has been around for a while. You just need to look at all the AT's again, in quick succession, to see the manipulation. Just 5 shares sold just before the close...5 shares !....that's around £1.20 !.

Thanks both of you for your input. I appreciate it.

I tend to agree that the Zubairs must have some form of an understanding with the Tanzanian politicians (whatever agency that may be) because quite frankly why would you invest unless there is a development licence to make a return on that investment.

Perhaps there is not a conspiracy after all (!) perhaps it is indeed just the slow moving machinery of the Tanzanian Government...regardless, it does somewhat undermine their "open for foreign investment" mantra.

Lets hope the process moves along a bit...I guess the next step is the EGM at AEX, targeted for end of November(ish).

GLA

Trying to move on to something a little less personal and very pertinent (imo) to the current sp.

Has there ever been a reason given by AEX or SOLO for the delay in the 25 year extension being granted ?.

I seem to recall this has been submitted early this year and someone citing that there was a 90 day time period for the authorities to make their decision.(not sure if 90 days is correct but there was a time period cited)...which has long passed...

I am aware that there is a payment dispute with AEX....is that the reason ?.

I am sure the Zubairs would not conclude a farm out/in without the licence being in place, so this suggests a decision being required within the next 5 weeks or so.

Anyone have a view why the 25 year dev licence has not been granted ?

Yes...and I cannot access either.

I sincerely hope that this background dispute is not the real reason for the delay in bringing the asset back online. It already been a year or so since the income stream was effectively turned off and any remedial work undertaken and did AEX drag it out to grab another 6% of the asset.

The Bot is up early this morning...

A sale of 21 shares at 2.15p....a total trade value of a little over 45p.

Steve They were respected and creditable third parties. The farm out offer was also based on those numbers and I am sure there was due diligence. It should not be worrying at all...but it is confusing how the sp does not represent the asset value.

Just seen a a trade go through for 142 shares at 2.13p (sell). That's either a fat finger or a bot sale driven by a formulae....The trade was worth £3.02 !.

I actually think that we have a person or bot who is trying to push the sp down. I do not think that this is a regular shorter or shorters.

It cannot be placement shares or they are being sold at a loss and the CLN's (which i seem to recall were at 2.06p) have been settled.

Not at all sure if that is what is happening at AEX but it has here since the placement and open offer announcement.

Hi CP

Surely the Development Licence would need to be before C-1 ?.

Why else would further investment be committed unless they can commercialise the asset both now and beyond C-1.

For me, the lack of the Development Licence is the biggest drag on the sp and the Tanzanian Government are not portraying themselves as a progressive, open for Business economy they claim to be.

GLA