Member Info for steve58

Good evening to you.

I haven’t seen any notice of an agm so it is good to know one is forthcoming.

I have been looking at the nxt tec website. Looks very impressive. Look under case studies on their site. Multi million pound projects in progress. Once an ipo is announced Leed investment of $300000 should be worth many times that. I still think their could be an rto in the near future.

We can then relist and things can return to normal for the shareholders.

I wouldn’t say desperate.

Although without nr deciding that drilling should continue we would not have kept our gas asset in Tanzanier. We have our stake in helium one and whatever is left of our Ukog shares for our sale of our horse hill stake.

As I have said before our cash is still being spent on fees. We currently have had no income for nearly two years no wonder so few investors are interested in solo. The amount of trades answers that. Seems to be Groundhog Day here. No news day after day. We have one of the most experienced bod on aim. We just need them to sort a deal out and soon.

Although our director has shown his commitment to both of these companies imo it does not affect solos potential future investments. What he should have done is spent the same amount buying solo shares. Does make me wonder if we are getting or were getting plenty of talking and very little action. Committing personal funds to other similar companies to ourselves hardly gives us shareholders much confidence in the board. I’m sure if the board thought they could get a good return on solo shares they would have invested more of their own cash.

The sp of 1.25 certainly does not give me any confidence at the moment.

We are down over 50% since nr resigned. Maybe he wasn’t that bad.

What concerns me is our rate of cash burn particularly regarding the fees that are being paid to gneiss energy.

Directors fees in anything but name. I am very disappointed by the almost lack of news.

Basically we have the assets that nr acquired less a few small disposals. Not much done for at least a million pounds in fees.

At least nr gave quite a few interviews even though he normally repeated what he said in the previous one.

Getting very close to 31st.

Stick another 1 in front.

That's what I need.

Let's hope the board come up with some mega deal and the licence gets sorted and we get an offer we can't refuse and get out of Ruvuma once and for all.

That would be much fairer on the long term holders.

We await news.

It has been four months since the announcement of the boards strategy update.

I assume the board are working flat out on the company’s new strategy. I know these things take time but they must have been working on it months before they announced it.

To sum things up Ruvuma nothing ntorya nothing sale of hh interest sale of iow interest proposed sale of reef interest. Does make me wonder if costs of over £1 million are justified. I’m sure this point will be mentioned at the forthcoming agm.

Maybe we should buy out kiliwani from aminex. We could even give them some of our 25% of Ruvuma that way no dilution and kiliwani hopefully can be brought back on stream at minimal cost. I cannot see any income from Ruvuma until 2022 at the earliest. I don’t think the board or the shareholders can wait that long.

Completely confused. I am getting confused with the whole thing.

Basically then there is nothing stopping production starting again at kiliwani.

I was under the assumption that the ntorya licence ran until 2036. I will have to check but honestly even if it did I just cannot see Aminex getting their act together and actually doing something. Solo have had no income other than selling of assets. Our asset base is shrinking as well as the cash in the bank. Not a very good start for the boards new strategy whenever is starts.

Another awful week for the company imo. Still no news of the reef disposal.

The long and winding road.

I think the whole thing stinks.

Our board must be fuming.

So they can’t do anything at ntorya until the licence is sorted.

Seems a completely different story from earlier updates.

I am fed up with the situation.

Too quiet imo. Fees to gneiss energy still being paid I assume.

Interesting to know how much cash left at the moment as no income for nearly two years.

The deal or deals they are working at are worthwhile waiting for.

News soon regarding July 31 deadline.

Not even £1500 today.

Total lack of interest and confidence for that matter.

I assume the bod are working frantically to give us some shareholder value.

They probably are although I sometimes if nr when he was in charge did more on his day off.

I hope that any deal that enhances shareholder value is worth while and relatively soon.

The agm is going to be soon and I’m sure they would prefer giving us some good news than getting a grilling from the shareholders.

There’s no business like no business.

Couldn’t help myself.

Some news would be welcome and is certainly overdue.

The Tanzanian government will only have themselves to blame if the operators say enough is enough and exit the country. All that gas and no one to extract it.

The Zubairs must be very patient to still be in the project.

An Rns is due whether it is to say the licence has been granted the date for the farmin has been extended or they are calling it a day if the licence is not granted before the 31st July. Let’s hooe it’s not the last one. Whilst solo have some cash and helium one it would not imo bode very well for us or aminex.

Could be the company disposing of it.

Change of domain to solowoil.com would be more appropriate.

IMO the board having said they are changing the strategy of the company it wouldn’t surprise me if they ditched the solo oil name completely. They are hardly associated with oil at the moment.

Hoping for some news on forward strategy soon. The sale of reef seems to have fizzled out, four months since last news.

I think I’ve got the answer to our problems. Solo change strategy and buy a football club.

They could always buy young players on the cheap from the academies. Lease them out to clubs to play then when they want to buy them make a fortune. When I see players selling for tens of millions that are not that brilliant.

Or maybe just wait for that licence to drop.

Interesting but Tom Reynolds name appears as a director. Recent purchase by Mr Fitzpatrick. Looked at Rose Petroleum although they have assets that are close to production they do not seem to tie in Geographically with our strategy.

Give it three years.

If producing in excess of 5000 barrels a day I would expect min mc of £100 million.

In at an average of about 15p so need it more than most.

That's the best post I've seen for ages.

I was hoping for at least £1 but let's not get greedy.

Once licence is sorted I would expect it to 5 bag at least.

Still only £40 million mc. We were more than that in the reef days
with no ruvuma m tcf gas discovery.