Member Info for steve58

About as much confidence here as a slug in a salt mine.

I know we have the licence problem but I do think that maybe aminex and solo should have developed the gas fields between themselves. There are loans available that are secured on assets.

Aminex raised monies a short while ago imo that was just for day to day spending. They get no cash off the zubairs until licence is granted. The whole thing is a complete mess imo.

I hope someone gets it sorted and soon.

Make that 15p.

It may be small compared with Ruvuma but development costs were fairly low much of the work had already been done. Definitely worth a thought by the board. We could probably own 100%.

Maybe solo should become more hands on in future investments.

Maybe reef could be restored and we sort it out.

Last time I got in was 100000 @ 3.8p.

What a bargain that has turned out to be.

At least the board haven't decided to monetise it yet.

We would then have more cash in the bank and no investments so to speak. Ruvuma not really worth anything until licence drops.

So really not a lot to shout about for 8 years and close on 20 million pounds of shareholders money.

Still not much here to give me any confidence at the moment.

Not very encouraging.

The boards of both companies have gone too quiet
Imo. Sold off a couple of assets for less than they were worth.

Interviews etc have dried up.

I thought ntyora was supposed to be producing by now.

Jb interview about a year ago I think.

It is spring now so maybe things will stir back to life.

Completely lifeless at the moment regarding news or anything for that matter.

Could be the Tanzanian government have all the gas they need at the moment.

What if they just do not sign it and then a few years from now they in effect own the gas in the ground.

They then get some capable company to drill etc for a share of the gas produced.

I was under the impression that this was the way the licence application was to play out.

It could just be that they want too big a slice of the pie and that the partners in the Ruvuma project are playing a waiting game. The trouble is time is running out and if it is not sorted by 31st March it may never be.

I just hope it does especially for solo shareholders who imo the vast majority will be glad to see the back of this long running saga.

Here we go again.

Only 20 trading days left for licence to be granted.

I myself am not convinced it will happen in the time left.

They have done nothing in 18 months so nothing convinces me
that it will be sorted in the last one.

Basically another awful week here.

Will it ever happen.

Fantastic country changing gas discovery.

Seems the Tanzanian government think otherwise.

I hope they get their act together and quick.

I'd better get in training then.

I just can't see it happening before the deadline.

Companies House still showing Maling as company secretary and director.

Unusually quiet here.

Nothing to really talk about just the constant news blackout and waiting.

Only 33 days to the deadline. The way things are happening or not happening I’m having serious doubts that the licence will appear before the deadline if at all. There must be some kind of serious problem maybe over what share the Tanzanian government want.

We are still waiting on helium one. We may as well restart reef at least the licences are easier to obtain and a few million barrels of oil in place. I’m sure quite a bit of it was sorted and they were almost into production before reef went belly up. To think we were valued at over 39 million pounds when our only asset was the audible reef.

How times have changed in 8 years.

It does concern me them selling assets for what I consider a very small amount. I know further expenditure would have been required but potential income could have been tens of millions of pounds.

As for Ruvuma $20 million for our share would probably satisfy a few shareholders. I would once licence is sorted value would increase accordingly. Problem is at the moment with no licence in place the sp is reflecting an almost nil value for it. No licence no drilling no income.

It would be great if I could get out of this ongoing farce if I’m allowed to say it.

I would not be surprised if it’s not sorted by 31st March if solo threatens to walk away from the whole project.

That would then put aminex aminex and the Zubairs in the awkward situation of having to spend a third more.

I know solo would lose what they have spent to date but when you consider the return we have had the solo board have to consider all options.

Great post.

Looking at the fundamentals you would think solo should be worth many times it’s current value.

Little or no interest at the moment. Basically nothing has happened for over a year now.

We have a new board have monetised hmm a couple of assets for next to nothing.

The market needs a lot more than that to get it interested in the company.

March deadline looming, we must hope that the licence gets sorted before then for everyone’s sake,

Over 7 years harely any income.

Makes me wonder why solo have put up with the lack of progress for so long. I'm sure most other companies would have got out of it
ages ago. As I should have. Only problem being the downward spiral of the share price for the last 5 years or so have made it not worth doing so.

Only 39 days to go.

They have had 18 months to sort this out.

Maybe we should start preparing for a no deal scenario.

I'd the zubairs had much influence I'm sure it would have been sorted by now. It could be that the Tanzanian government want a much larger share and it is not worthwhile after taxes and extraction costs are all taken into account.

We shall hopefully have an outcome to the licence in due course before 31st March one way or another.

Interesting that on 20.11.2011 there were 2230320634 shares in issue following a fund raising on that day at 1.4p.

So with our only real asset at that time being the ausible reef we were valued at just over £31 million. We now have our world beating Tanzanian assets helium one cash in the bank and are valued at just over £10 million. Someone please tell me there is nothing wrong here.