Member Info for steve58

Just over 30 million . Interest on loans on top.

Seems we can expect about three times our investment back over about 15 years.

In that time we will of course have 15 years of much larger expenses salaries etc for the very large board of directors. Does concern me that the deal may not be as good financially as it first seems.

We are hoping to increase production through remedial work new drilling. This of course all adds to costs. IMO deal is still very good for the company cash flow wise. It’s where the cash is going that concerns me. As for that special dividend it seems that any surplus cash generated will be used to buy more assets.

Just my opinion. Just that once we have opened the socks and had the Xmas dinner we can all have a long leisurely read of the documents. Whenever they drop have a good Xmas and a very prosperous new year.

I would like to think it could easily treble again. So approximately 22p and that's only for starters.

The documents will probably be announced just before Christmas with the meeting in the week commencing 13th January.

Could theoretically drop tomorrow for a meating on Christmas Eve although I wouldn't think so.

If you have been here as long as I have. I certainly wouldn't settle for break even.

Imo another couple of years I would expect at least a twenty fold return on my original investment.

We were worth 3 times our current mc on 13 barrels a day.

What will be worth on 20000 barrels a day or more.

Look at RRE.

Similar situation. That was six months.

Could drop just before Christmas say 20th.

That would then make the meeting on or about 10th January.

That way we get plenty of time to study the document in detail and more than a week to return whatever we have to and sort out any money required for participation in the fundraising.

All imo of course, with solo nothing ever seems to go to plan.

Looks that way although could be just before Christmas then meeting 2nd week in January.

Some interesting reading material over the holiday required as nearly 2 weeks holiday.

Sounds fair to me.

So no one can trade until after meeting and deal done.

Of course current shareholders such as myself have the advantage in that we have the shares that new investors cannot trade until that date whatever it is and they will want them. Imo the years of waiting will have been worth it if boards strategy of being a mid cap share within three years mc £billion plus. And that’s only for starters.

I thought he was still doing a bit of consultancy work for them.

I assume he still has his 33 million post consolidation shares.

News before Christmas not too sure.

Whenever it drops is will be good.

I have looked at RRE when it commenced in 2016.

We seem to be following an almost identical path.

The choice of company name was made the same way as our choice for name change.

Our first asset acquisition is about 7 times larger than theirs so need more be said.

Another thing I noticed was that their shares were suspended for six months until initial acquisition was completed. I hope we don’t have to wait that long here.

With the boards experience I can really see no limit as to possible transactions and expansion.

I’d like to think 50000 plus barrels a day within 2 years and 200000 barrels a day within 5 years.

Shouldn’t get carried away at this early stage. The main thing is to get this first deal completed and take it from there. I think the board said that three deals were at an advanced stage of negotiations a few months ago so it does seem at least one other deal will be announced sooner than later.

The money may help but health and well-being of us and our families always comes first.

At the end of the day your health family and living is much more important than money.

I will be quite happy to wait until the new year if necessary for the documents to drop.

The money if we make any is a nice bonus but as I have said above it is not the most important thing in life to most of us although of course we can’t really do without it.

I just checked apparently the 21 days includes the day notice is served and the date of the meeting. Confusing isn’t it. Hope it drops tomorrow. Some interesting weekend reading.

Good evening Chris. Still waiting.

I think once the document is announced it is actually only 19 days something to do with posting date. I will check again but that would give us intel Monday at the latest.

We really need at least a week to spare before Xmas. I think the last real chance for the document to be issued will be tomorrow.

That would just about give enough time to relist on on or about the 18th December. I think next Monday will be too close to Xmas. The boards last working day as well as most shareholders will probably be 20th or 23rd.

So all things taken together let’s hope an Rns drops tomorrow at 7.00 am.

I trust I am in the majority regarding this.

If it does this Christmas could be quite interesting to say the least not to mention what the new year should bring.

This week would be great.

Whenever it drops I think next year should be very prosperous for us long suffering shareholders.

Imo we are looking at 50p this time next year.

The board are saying mid cap within 3 to 5 years.

That is a minimum mc of a billion pounds.

The document and related figures should be interesting to day the least.

It really has to be this week as the week before Christmas could be tricky especially if documents have to be posted back to them.

It must be a fairly hefty document. The part that tells us how much our Tanzanian assets are worth should be very interesting.

The even more interesting bits will be how much we will be able to buy shares for and how many we will be able to buy.

Just noticed that myself.

Probably back to give us all one last nostalgic look.

Out with the old in with the new is the saying.

Although I am well down on my solo investment I shall miss the old name when it eventually disappears.