Member Info for steve58

I should have made that clear.

I do wonder if the farm out licence will ever get sorted. Our boards patience must be wearing very thin.

At least we have cash over at aminex I’m not so sure. They have a big board of directors who are still being paid monthly salaries. I think I’m right in saying they get no money from the Zubairs until the licence is sorted.

If a company has the cash to pay them to drill. They pay them that’s it.

If they don’t have the cash they can offer x amount of shares instead of cash.

More shares have to be issued probably at a discount to make the drilling company more likely to take it in shares
instead of cash. Dilution to existing shareholders as far as I can see.

If they are given shares in the company for drilling
surely that is dilution in another form.

Why not just have a loan and keep our stake the same.

Still no news from aminex.

Kn1 remedial work must have stopped.

Imo their recent fund raise was used to pay the overheads as they have had no income for over a year now.

Feel for you. Mine was my early retirement fund almost so in the same boat so to speak. I have no spare funds to average down so will hang on in here. If the board comes good on its 5000 + barrels a day imo 50p plus should be possible. I’m sure that would suit ourselves and the other shareholders just fine.

News on their website.

Future looks very good.

They are looking to franchise worldwide.

Maybe leed could get the UK one.

News soon from leed.

Annual accounts due in a couple of months.

May have been just as well to keep it.

Back in 2012 they were in the process of getting production to 500 barrels of oil equivalent when reefs money ran out.

Most of the plant and equipment was already up and running.

As for a sale I would not want to guess a figure.

Thanks for reply.

A big mistake on my part.

I can see exactly why you say this share is what it is.

I could say the same if not more but keep most of it to myself.

I’m hoping for everyone’s sake that things work out.

IMO the tide is definitely turning.

I assume you are a long term holder with a much smaller loss than me.

I could kick myself in the teeth for my investment here but that won’t do me any good.

So I will hang on in there. As they say this time next year rodders.

Let’s wait and see.

Hope it all falls into place we shareholders certainly need
it to.

You have your opinion unfortunately mine is different.

I am so far down that I have to have confidence that what the board
is doing is going to be very profitable for shareholders.

Good luck with angs. To be honest if I had spare cash I would put
some there myself.

I’m over 70k down so come on I’m sure you want the sp to increase as much as I do.

I know it’s been awful to say the least the last five years but I’ve stuck with it.

Once new strategy in place sp should be many times what it is now.

5000 barrels a day within 3 years.

At $60 a barrell at current exchange rates that is in excess of £80 million a year in sales income. We still of course have our stakes in Ruvuma Helium One and Horse Hill.

All be it slowly but surely.

Imo looking much better than even a month ago.

Director investment in Block Energy very interesting.

They seem to have all the fundamentals that fit in with solos future plans.

Fits the strategy of solo.

Close to oil and gas pipelines.

Interesting as to his reason for buying into the company.

They were only listed last June.

Imo more to it.

Company has oil and gas in place.

Already producing.

In the right area mentioned in interview the other day.
Anything possible.

Steady increase in oil production.

Maybe Alastair is getting his foot in the door so to speak.

Biggest daily rise for ages.

Some news maybe in the pipeline.

Good to see.

Considering the total lack of progress in Tanzanier why don’t solo swop our non producing asset for a producing one.

I’m sure one of the majors have an asset producing a few thousand barrels a day which they want to hive off.

So basically is all solo sharehorders will see is our share of any income dividends and any expenditure regarding the helium one project. I would be reasonably happy with that. Although I think solos accounts under investments would be obliged to state the profit and reserves of the company they are invested in

Thanks for that.

Pity solo didn’t explain this when investment was made.

This would have eased many shareholders concerns.

Good to see.