Member Info for Phillo

Going on me thinks...

Just enough shares being sold to hold or lower the price whilst or before someone accumulating.

Hi CP. Been away from the site for a few days...thanks for correcting my previous sp calculation. Must do better at school :-) Do you think that large trade was a sell ?. It was 2.31 which I guess if bought at placing would be a nice margin. The bid dropped back as well to 2.20. Please check my calculations though 👍

2x 350k sells at 2.20p .. All seems a little strange to me. The CLN's were settled so it cannot be them (2.06p I seem to recall). So why would someone be selling below the placing price with sentiment turning ?.

Steve

All very exciting.

The only issue for us is further dilution of UKOG, initiated by UKOG.

Still better liquidity than owning the asset in my opinion.

Also as a significant shareholder, we are more likely to be listened to than a minority holder of the “asset”.

Will make my mind up tomorrow on my allocation. I am rather confused as to why the shares have not moved up with the buying pressure and concerned the market is “not being made effectively” with this share at the moment.

GLA

I wonder whether our IOW assets are now also on the table ?.

Hi Crusty All very interesting. What are the positives for Solo as you see it....I note you have a "buy" opinion in your profile for this share :-)

Hi Thanks Crusty and CP for the clarification. But could we imagine a scenario where the dev licence is contingent upon a full commitment to proceed with operators plan and solo do not like the plan ?. Perhaps they see a better way, perhaps a different way but effectively filibuster the process and become such a nuisance that they get a better offer just to keep the process on track and the Tanzanian Government onside ?.

I would hope that we have some leverage to negotiate an acceptable outcome. Presumably the chronological order is that the AEX shareholder approval is first. If received the Zubs are then committed to a significant investment to completion. I assume the development licence is being held back until the the new "operator" is in place. What I am unsure about is how Solo is obligated contractually. If they cannot or will not stump up the additional investment to the Zubs...does the project progress without them ?. Do they lose some or all of their 25% or does the project stall until an agreement is in place. I just have this view that our leverage is increased if the AEX approval is given and only stands between the 25 year dev licence and production.

Hi Zoro Yes that has always been the danger in the past but I hope it may not be the next time. I asked the question of how the proceeds for the sale of the asset would be returned to shareholders and it seems there is a commitment that may involve either a special dividend or a share buy back. Well that's how I read it. If that method is pursued then a share a buy back will steadily increase the sp (rather than a spike) and a special dividend will raise the share price to close to the value of the return (at least) for the time period between the announcement and the ex-divi date. Well that's my thinking anyway :-)

Hi FJ

Yes, at long last I am starting to believe that we may see some progress.

Fingers crossed..

Hi Steve and CP,

Many thanks for the information. It does indeed seem to be a clear commitment.

Like everyone then,... I look forward to the day when we see a shareholder return :-)

Hi Steve

I have heard the rumour of a special dividend if/when an asset is sold, but has that ever been confirmed in any BOD statement or documented anywhere ?.

I hope that there is, because as you say we really deserve some long delayed return on our investment !

GLA

I presume there is no point as they are now cheaper in the market ?

But who else would want just 25% ?.

The only other interested party is the Tanzanian Government or their agencies and they are not going to pay a premium.

The previous equity issue as part of the convertible loan was at 2.06p, so I assume that this is still being sold in to the market. I agree, with an increase in optimism it’s all rather disappointing.

Hi CP Yes, I thought about that but the offer went up after the transaction which, along with other transactions at significantly above the offer did not seem to support a sell...all rather strange this morning.

Some very strange transactions going through at the moment. The offer has now gone up to 2.7 after a 2.2 million sale appears to have gone through at 2.3. Icod it have been a long worked buy ?.

Trime Yes, seems that some people are buying above the offer price which is rather surprising. Unless I am misreading the transactions.

BD agreed, but they just cannot keep stumbling on without demonstrating that they can monetise an asset. The assessment of their performance has to be on increasing market cap now...no ifs or buts. Good luck today at the AGM

It’s rather disappointing that UKOG is up 13% and we have not moved at all. But has been previously stated a new dawn from Monday :-)