Member Info for steve58

Good evening to you.

I know it may seem far fetched but board have reiterated that 5000 barrels of oil a day minimum output expected in three years at current oil price and exchange rates we are looking at 80 million pounds plus per year income.

If you look at some other oil/gas companies many have less income and are worth hundreds of millions.

IMO the quickest route to production would be buying a producing asset or better still at rto of a company with ready made production and income/profits. Interesting months ahead.

Not a big rise today as sp has fallen progressively over the last few years.

However optimism over how and when the new board will progress things is growing.

They have strong connections with oil majors which be ready to offload which to them are trivial assets but which to us are not. IMO by the end of the year we will be unrecognisable from what we are now and many times larger in terms of asset base. The board want to see us as a medium sized company of at least 500 million pounds market value and so do its shareholders. Let the Rns’s come thick and fast.

The new board have had only about 6 months the other board had over 7 years. The main reason for our current sp is the ntyora and Ruvuma investments which are basically worth nothing at the moment. Aminex did say production last year. The remedial work seems to have been put on hold. Wasn’t it sorted months ago, and why the fundraising. IMO for general running costs etc as they have had no income for over a year now just like here. Once licence is granted imo I cannot see the board keeping our investment too long unless of course we own it outright. As I have said before with our boards experience nothing would surprise me.

Whilst not giving anything away it does seem a very big deal could be in the pipeline.

Maybe a complete buyout takeover of aminex given their very low sp.

BP mentioned. Nothing would surprise me given the huge experience of our current board.

Unless an rns breaks in the next two minutes another dreadful
week.

Does concern me that there is no mention of returning cash to shareholders on monetisation of Ruvuma.

However there is much mention on potential acquisitions.

I’d rather they sell Ruvuma at the appropriate time returning a dividend to shareholders. Then invest any spare cash on acquisitions by all means.

The sp has closed down again on the week so still no confidence here.

Even worse over at our partner.

About a year now with no production income as such.

Two years since the gas discovery at then ntorya 2 well was shut in for future production.

Basically in two years the Ruvuma saga has become a farce imo.

No licence no remedial work no updates of any relevance.

As for aminex communications to its shareholders I shall make no further comment.

Many companies trade at a multiple of net asset value

Interesting months ahead.

Would like to think sp will be many times its current value
should 5000+ barrels a day are achieved. Not sure if that includes Helium One production.

Good evening to you.

Maybe the tide is turning.

About 15p for me and about £85,000 to go.

Only about £100 million mc.

The board have said a minimum target of 5,000 barrels a day within three years. Most of us have waited 7 years so another 3 years for £90 million plus income a year at current oil price and current exchange rates.

Could be worth a billion mc by then.

About right for me too.

Although any rise in the sp is welcome the spread is less so after dealing costs not really worth it.

When it starts rising by 1p or more in a day it will be.

We are now worth about 8 million pounds.

Over 20 million pounds invested since 2010.

Need more be said.

Not a very happy long term shareholder.

They will probably sell it for £1. Seems to be the going rate nowadays.

Costs incurred about a million pounds I think.

Selling off our assets for a very small profit.

No income.

Last 7 years wasted as far as I am concerned.

We mustn’t forget that we have a £17 million deficit on the profit and loss account so company has to make profits of this figure before there would be any distribution of dividends.

Good morning Chris.

The board seem to realise that they need a positive future strategy for the company.

The board certainly have the expertise having presided over some very large transactions between them.

I still think they will get out of our aminex assets once the licence is sorted.

IMO a name change soon as well.

Interesting that we want to become an operator.

No real mention of Ruvuma. Seems they may want out at the earliest opportunity not wanting to incur costs.

We are of course not the operator and have no real influence on anything.

I can’t believe they are selling reef investment. Probably not a big amount, could involve us keeping a small share of future income.

As for 5000 barrels of oil a day ( not sure if they are taking gas equivalent or actual oil here).

Would at current oil price of say $60 generate income of about 80 million pounds a year.

Not sure what the sp could be but hopefully many times what it is now.

I’ve provisionally pencilled in March 2022 as my retirement date.

May not have been that good but someone has had it removed.

Hopefully was read before it went.

Could be the Tanzanian government just want the gas for themselves. Until licence is granted it is all theirs.

I'm sure our bod are far from happy with progress or lack of it.

Seems the solo board have lost interest in this ongoing saga.

No mention from them at the moment.

So July at least that is nearly two years since application and three years since drilling. I do remember Jay saying production by end of last year. He just seems to have forgotten that no licence means no dridling no production no income. Absolute joke imo.

Another exiting day over.

IMO if licence were to be granted it would have happened ages ago.

Complete silence from aminex board it’s almost as if the company doesn’t exist anymore.

Still no news on remedial work.

IMO awful treatment of shareholders.

Here at solo we can just wait as we have little or no influence over matters in hand.

About 3 billion pounds our share.

Not worth anything until drilling gets underway.

Seems we are in the same situation at the moment with Ruvuma licence.

News on at least one front very soon. Both are long overdue.