Member Info for steve58

Still doesn’t tell us what they have been doing the last eight months regarding their strategy.

IMO they have probably been spending a lot of time over at their consultancy company earning fees for other corporate work.

They had all the finance in place for the aborted deal. Still defies logic that they cannot come up with even a small deal. Solo need income not promises.

Good morning Chris.

Very disappointed in corporate update.

I agree with you that our 25% will be sold.

I cannot see the further expenditure worthwhile given the continuing delays.

Have a good day.

Weather good anyway.

The corporate update is the Rns.

Regarding being fully funded until q1 2021 they state that this is in the current state.

Seems that the money will only last another 6 months without the farm out taking place and no further Tanzanian expenditure taking place. Seems borrowing or placing will be their only route.

Another worrying aspect is the diminishing cash balance.

I cannot see how we are fully funded for Tanzanian drilling etc.

Nothing on helium one. Nothing at all really.

Corporate update should be very interesting.

It has taken four bods nine months to decide to change the name at last.

I’m sure that could have been done ages ago in line with their ongoing strategy.

To be honest a three year old could have put together that Rns in five minutes.

Just what have they been up to.

Nearly £2 million spent on what an aborted deal.

Thoroughly disgusted by complete lack of any positive news whatsoever.

Could be an exchange of assets.

Our 25% or less for a producing asset.

Hope some cash involved.

Still waiting for that special dividend.

Morning Chris.

Just drags on and on.

The inaction of the board is very annoying to say the least.

At least weather good for quite a while.

Have a good day.

Probably not.

Worrying that we could ultimately be left with a worthless asset.

Without licences etc in place that is exactly what it it worth.

One aborted deal in 18 months.

The deal took much time and expense.

Doesn't seem to be a plan B.

Doesn't impress me one little bit at the moment.

What are they up to regarding strategy.

There must have been at least one small deal they could have done between the four of them.

Tomorrow maybe.

Another blank day.

The Ruvuma licence extension was applied for in September 2017.

A years extension was finally granted in April 2020.

Now the extension has been granted the Tanzanian government haven’t finalised the final terms of the farm out. By the time this is granted the jv partners may only have 9 months or less to finish the appraisal drilling etc. The licence extension will then expire and will have to be applied for again.

If the Tanzanian government were serious about bringing gas into the country they would have granted a much longer extension period and would certainly have granted licences a lot quicker.

IMO this saga will go on for years and solo should take the best offer and get out completely.

Just my opinion I know but I am not prepared to wait years for any income here.

As for our board I shall keep my comments to myself.

I think the current state of the sp should explain things to them very well.

Good evening to you.

I think if projects that are listed on their website are done we should see a multimillion
pound return. The resort project is over $500 million alone.

London listing imminent at about $1.90 a share.

Leed investment at about 30c a share so at least a six fold increase.

Results due in next few weeks hope for an update soon.

All ok.

Another year flown by like here.

Four trusses and still growing.

Hot weather next week.

News of some sort must drop soon.

IMO the board have a deal or deals ready to go. Cash from farm out or sale to be the catalyst.

Have a good weekend.

Red dot Monday maybe.

Morning chris.

They will certainly make interesting reading as it stands today.

I will try to keep awake whilst reading them.

Still hoping for a complete sale.

As for value not sure on that one.

Maybe one of the larger gas companies will give us a cove valuation.

I'm sure $400 million was mentioned years ago.

I'd settle for a quarter of that for a complete sale.

Morning chris.

Still awaiting news.

Doing ok over at block.

Anything possible.

Have a good day.

Thanks Chris.

Another year older.

Thinking about it solo are in the same position as they were a year ago.

Let’s hope the next year is a better one as far as shareholders are concerned.

Have a good day.

Morning chris.

Hope next news is ruvuma sale or mega deal.

I was hoping for the red dot on my special day.

Maybe tomorrow.

Good morning to you.

If only solo could grow even slowly.

Nothing at all from the new board.

They will have some explaining to do to shareholders at the agm.

Not much confidence here at the moment.

Not sure what’s going on with the Tanzanian government but they obviously don’t want companies investing in their country.

I’m surprised there are any companies that can still be bothered with all the waiting.

Morning Chris.

Another week here and still no news.

Regarding solo’s Ruvuma stake.

I assume that if it is farmed out or sold we need the permission of the Tanzanian government.

If the situation over at aminex is anything to go by we could have a very long wait to monetise our share.

Still showing the acquisition presentation on the website and interview with mr Reynolds post aborted acquisition targeting 20000 barrels a day equivalent within five years. That’s 8 months ago.

Cash at bank reducing no income for 2 1/2 years. I think to myself is this the way to run a business.

Maybe the board are working hard on another big deal. I would prefer a few smaller ones and build gradually.

Accounts due within a couple of weeks. The board should be asked at the agm just what they have been up to given the total lack of progress and if their strategy is on course. It certainly doesn’t look like it at the moment.

I know the situation in the market is affected by the virus.

I am still very disappointed that the so called experienced bods have totally failed imo to do anything to enhance shareholder value. Last October all smiles and much talking. They couldn’t line up quick enough for their interviews. Words and promises are one thing , delivering on them is another. At the moment they have delivered nothing in over a year.

Company breaking news next week maybe.

Have a good weekend, at least the weather won’t be too bad.