Member Info for steve58

Should be very interesting.

ZZZZZZZZ

The key is probably still in the door.

Hard to believe that’s nearly 8 years ago.

Mustn’t joke about it I’m sure tea and biscuits were provided.

Is al I can say is the data provided couldn’t have been that good.

We have come along way in eight years still no income.

Should all change once licence is granted and we monetise some or all of Ruvuma. We still have helium one investment as well. The only thing we don’t have is income that is the fundamental problem and has been for years. Our cash reserves must be getting smaller as the months go by but I’m sure the board can come up with acquisitions without the need for more dilution. I shall believe it when I see the Rns.

Nearly six months since much talking and we have nothing.

Agm on Tuesday so news if any should be tomorrow or Tuesday.

News was imminent eight years ago so I’m not really expecting anything.

But then this is solo and anything can happen eventually.

I know some shareholders will be asking the board to justify the hundreds of thousands in fees in the last year. I’m sure the board are busy on a mega deal to bring income into the company.

Does concern me that maybe they are also working many hours elsewhere hence the fees being charged and income going to a related party company.

I’m sure it will all be explained at the agm.

Only 30 months to achieve 5000 + barrels a day equivalent. Of course the longer we wait the larger the deals have to be. If the first one announced is less than 1000 barrels a day I think a lot of shareholders will be disappointed.

Reading the latest accounts our chairman says that they have reiterated their desire to have a London listing. Through a Leed rto would be great for us shareholders.

Their building system could be rolled out worldwide.

Read the chairman’s report on page four of the accounts it could be a very profitable future for the shareholders.

Good to know you are still looking in.

Nxt seems to be evolving into a multi million pound company.

Check out their website under case studies.

Some very large projects in the pipeline.

Agm today so maybe if anyone turned up they asked some questions about our future strategy here. IMO an rto is very possible we have tax losses available. Apparently nxt are interested in a uk listing so at rto would bring our shares back into play.

Interesting months ahead.

I will post any information I can find.

The one with Neil in his school blazer is even older.
Perhaps they have more important matters like improving
shareholder value. Although given the current sp that shouldn't be that difficult.

Maybe solo could exchange a percentage of their Ruvuma stake for Kiliwani stake become the operator and get things moving on to generating income. We have the cash to do so. Just sitting in the bank being eroded slowly away by day to day Expenses.

Worth a thought anyway.

The last Rns from the operator says that are still sourcing equipment etc for the remedial work.

That’s the best part of two years since the problems began. Anyone can see why the sp’s are where they are.

Kiliwani doesn’t even need a licence renewal so why hasn’t production restarting been a priority.

Rns today then.

Probably wishful thinking.

We shall know in a minute or so.

Apologies.

It’s been so long ago I thought it was to do with a deal the company was looking at.

Regarding the arreton iow prospect it may have been money well spent but it has been disposed of so that is that.

Exclusivity agreement.

I didn’t even know one was in place.

Looks like things moving over there over 20 million barrels could have been solos. Sold for a pittance imo. Becoming like a soap opera here. Drags on and on and no one can understand just what is going on. Just what are the board doing with all this time. Does a deal really take this long.

Statoil now called equinor is a multi billion pound company.

They are into gas oil wind farms maybe helium to.

Any interest from a large oil and gas company would be welcome.

Seems to be September or October before any news on Ruvuma.

Seems like two years wasted to me.

Agm in just over a week and still not much to talk about to investors.

All looks great on paper.

Words are of no use unless they are acted on.

The sp speaks for most of us.

Little or no confidence in the company.

They need to get their act together and soon.

I'd rather have a 100 Barrel a day producing asset sooner than wait another six months for a 500 barrel a day one. Cash income
imo is of prime importance. Words alone will not pay the bills indefinitely.

Agreed.

We will probably cash in as soon as licence farce is sorted.

Still no news on new strategy.

Agm in under two weeks.

Zzzzzzzz.

Join the club about 90% here.

15p breakeven.

30p retirement.

Let’s hope for some news soon.

Shareholders certainly deserve it.

Especially the long term ones.

With the cash we have I cannot see how we can acquire producing assets without cash or dilution.

If we do not want to pay cash out of existing resources or issue shares to the seller then the only way would be to borrow against the production and repay from the income earned. As for a return to shareholders imo this would only be achieved short term by a complete sale of our Ruvuma stake.

5p a share.

Within three years if 5000 plus barrels of oil equivalent are generating income I would expect a dividend of at least a couple of pence a share minimum. Income £100 million profit should be 50% say £50 million p/e at least 10 so £500 million mc or about 80p a share.

May look crazy but it could be that three years from now the current sp will be just a distant memory and hopefully shareholders will have their reward after all the years of waiting.

Only the board have the experience to deliver and we wait for them to show their worth.

Nxt website now showing projects for at least 3 hotels residential towers conference centres.Must be hundreds of millions of dollars alone. Anyone interested look under case studies commercial property and residential property. IMO an ipo must be very near. As I have said before at rto is very possible. Nxt have investor relations and solicitors both based in London and bdo are their auditors.

Hopefully some more updates soon.