Member Info for steve58

Ok. Let's all imagine boom.

I am concerned with the silence but hope that news when it drops will be good.

Whilst I don’t agree with your wording imo something seriously wrong.

I see that the baron acquisition has fallen through after 3 months.

Some news please.

Worrying times.

The board have gone completely silent.

It surely cannot take this long to renegotiate terms of the acquisition.

IMO it has to be much more serious than a simple cash adjustment.

Could be the reserves have been overstated or depleting at a faster rate than first thought.

What’s that phrase silence is golden. Let’s just hope it is.

Helium one no sign of ipo. Ruvuma no sign of licence.

I know news has to drop sometime on at least one out of three but some kind of update good or bad would be good for shareholder relations.

After nearly 2 1/2 years I think it’s the least we can expect.

IMO the Tanzanian government has finally realised that if they don’t get a move on there will be few oil and gas companies left. They still have their costs. Waiting years for a licence is expensive. No income. They would have been better off going to another country.

We are of course waiting news on three if not four fronts if you include reef.

Bit of nostalgia today. They are bringing back opal fruits only for a limited time though.

I personally used to like spangles. Now we are almost free from the eu surely we can bring more old names back.

Let’s hope we don’t bring any old names back.

31 cents had a reply.

Does seem very high price to pay given that we got in early.

Looking at the post ipo fundraising nxt say they have about 75 million shares in issue that have raised just over 3 million aus dollars. So could be .31 cent so would then give us just under 10 million shares.

I will e mail to clarify how many shares we actually hold.

Good morning to you.

Aus$ .31 per share so 31c I assume. I may have to clarify.

Should read 10 million shares.

Correct me if I’m wrong it’s the billions I can’t deal with.

It seems to me we are stuck in the sidings until as you say the deal is done and full steam ahead.

Of course if the deal is not done there will be no income. Our board are not working for nothing.

We probably have one of the most experienced boards on aim. I hope that their strategy works out but until I see it in writing my opinion stands.

I had a reply from Charles Zorab regarding how many shares we have for our $300,000.

The average is .31c a share so our holding is about a million shares so about 1.25% of the company at the current total shareholding. The forthcoming ipo seems to priced at about $1.90 a share so our investment would be worth about a million pounds or about 0.00064p.

A holding of a million shares would be worth about £6,500 if they relist of course.

I have asked him about the possibility of an rto into Leed as we do have a few million in losses which could be used against future profits. I do not expect a reply as it would probably be classed as sensitive information although our shares cannot be traded so maybe I will get an answer.

If nxt shares soar to say $5 or more our investment could get very interesting and maybe a return to shareholders. I’m hoping for an rto and subsequent London listing.

It’s not so much the three month suspension that concerns me although to be able to buy and sell again would be good.

The part that annoys me is the almost total lack of newsflow. I thought the old days with Neil were bad enough but he did give us more updates even if some of them were not worth the paper they were written on. I want this deal to go ahead but the longer it goes on without any news it makes me think the delay is much more serious than just a couple of million pounds. There was lots of talking and they were lining up to get in front of the camera on last October. Nothing since.

For all of our sakes let’s hope the delay is short lived and the company can move ahead at speed.

At the moment we are stuck in the sidings. We all know what happens to old trains over time. Let’s hope it doesn’t happen to solo.

Maybe they want more money out of us.

Anything possible here.

I hope the deal is done and soon.

It's been 18 months since announcement of change in strategy.

We are still waiting.

Maybe we should have had smaller acquisitions and more often and not had to worry with the rto situation.

At least we would have had some income albeit smaller.

You’ve hit the nail on the head there.

I have my doubts but I hope that their strategy pays off.

Mid cap e & p company in under three years. Mid cap is mostly above a billion pounds mc.

Which even if four times as many shares are issued to help finance acquisitions we should be looking at 40p plus. However they did say something about self financing increases in daily output so could be way out with my. I would think unless a huge offer drops once licencevis obtained the board will carry it through to drilling which would probably be the best time to monetise a large part if not all of our Ruvuma asset. Helium one should be worth a good amount if drilling etc goes to plan.

We have so much to look forward to here. The only trouble is we have been saying this for years.

Evening Chris. I’m sure that many very experienced people have had failed companies.

I trust our current board but only to a point.

We really need some news on something and soon. Seems they couldn’t get enough time in front of the camera when the deal was announced but nothing for three months now.

I suppose that they cannot even say why the deal hasn’t yet happened. Some kind of reassurance would be welcome but I suppose they can say nothing until the deal is done or scrapped.

Regarding Ruvuma what can we say. Hope for helium one news soon.

Meanwhile solo still has costs but no income for two years now.

Things can only get better, it’s just when that worries me.

They only have 26 months to fulfill their strategy.

With the amount of time left that will mean some very large

acquisitions are required.

We haven't even done the first one yet.

We of course have no idea why the delay has happened.

It must be something of a material nature as I'm sure the board would not to renegotiate over a few hundred thousand pounds.

We were set to get income from 1st January 2019 in the deal anyway.

Imo maybe the reserves were overstated or production has diminished markedly. Anybody's guess.

It could be many things. Only time will tell whether the deal goes ahead or not.

I am getting a bit concerned.

Too quiet all round.

Proposed acquisition Ruvuma helium 1 reef.

Almost complete silence.

No income.

Zzzzzz.

News on something soon would be appreciated.

Imo leed rto into next.

We are other than our investment in nxt a shell company with a few million in tax losses.

The leed name would then disappear and we would hold shares in nxt tec.

All imo of course.

Our board have experience of fund raising so should be able to do so.

News soon I hope.

It will depend on the percentage and value of our stake once the ipo has happened.

I’m hoping for an rto but probably being too optimistic.

Looking at nxt they have the capability of becoming a billion dollar company very soon.

More news soon.

Reasonably happy. It’s just the cash burn rate that concerns me. Although I’m sure some members of our board could put some money in to keep the lights burning.

I’m hoping for a few good Rns’s in the very near future days if not weeks.

Not expecting 23 in one day like over at Sxx.