Member Info for steve58

Definitely cant wait to exit here over 90% down myself.

My second worst investment after ferranti. We all know what happened with that one.

Imo solo will exit this Ruvuma saga as soon as practical.

I'm sure even the directors won't want to wait another eight years which at the current rate of progress is probably a little on the low side. It's hard to believe that I have been invested here over 7 years and am still waiting some sort of return.

Not very impressed.

Nearly half raised by issuing extra shares. So just the same as aminex really.

Dilution just to keep money in the bank for months if not years. If the licence isn’t issued would put us and aminex especially in a very awkward situation. The way things are going we will need a plan B whatever that may be.

Will it happen won’t it happen.

As we know the clock is ticking lack of news is worrying.

I know details have to be right but nearly 18 months.

I honestly thought it would have been sorted months ago.

IMO the recent fundraising is probably being used for day to day expenses as no income for a year now. We are in the same situation here.

The companies assets are worth a very large amount of money.

But without the production licence they are worth almost nothing hence the current sp.

I'm glad we do have helium one to fall back on.

I'm sure no other gas producing country in the world would have taken this long. Let's just hope it gets sorted soon. For me the sooner we can monetise Ruvuma and get out of this mess the better.

So between 15 to 30p a share.

My average is about 15p so that sort of buyout figure would be great.

Let’s hope licence gets sorted soon and a buyout becomes more probable.

Imo with licence in place I would think 100 million minimum. If further drilling done and further reserves proved 200 million or more. May be more may be less.

Once licence is sorted hopefully board will put Ruvuma stake up for sale. We know interested parties are sniffing around. I think the licence being sorted will be the catalyst for some really big offers.

All imo of course.

Aminex now valued at 50 million.

Let's just buy them out and get things sorted.

I'm sure a loan could be secured on the assets.

We would then have 50% licence gets sorted then soli sell it on for a big profit.

Just a thought anyway.

We certainly have the team in place.

Personally I’m hoping that once licence is granted a bidding war starts for a complete sale of our Ruvuma stake.

Drilling may add more value but is the wait worth it.

I would hope for at least 100 million or more for a complete sale.

We would still have helium one ntorya unless that is part of the deal and some Ukog shares.

So still awful but I’d rather be here than there at the moment without mentioning their name.

As for that special dividend the reserves deficit has to be cleared before any distribution can be made to shareholders.

About 5 million pounds I think.

If 100 million or more is received from a complete sale and say 70 million was paid as a dividend that would not be a problem.

If it happens should be after licence agreed. Not really worth anything without one.

As for how much could we expect to receive.

About 1 tcf our share. Cove energy valuation could be used. The gas field that they sold for over a billion dollars contained about 60tcf their share being about 5 tcf. All offshore and still not producing. Ours is all onshore easier to drill/produce. Hope it’s one of the top four showing their interest. I’m sure any deal that is done will reward us all very well. It’s just the amount that we receive could be the sticking point.

We of course have a deficit on reserves of a few million.

This has to be cleared before any dividends can be paid.

We retain a very small amount.

Would be nice to know how much left and how much soli have gained or lost overall.

Rns a complete waste of time imo.

Just a shame no one else thinks so.

Hence sp still falling.

Interesting that they have companies eying up our stake. Dare they farm down or sell before licence sorted.

I’m hoping for a about 50 million 10% retained and a free carry.

Basically the last six months.

Monetised two assets which IMO we should have kept given the lack of progress on the Ruvuma licence.

A couple of interviews.

That basically sums it up.

At 20% recovery rate about 13% solo share about £400 to £500 million.

Correct me if I’m wrong. Maths was brilliant at school but that was a very long time ago.

He seemed very strange to me. Probably the camera angle.

Seems to me they could have announced this nearly a year ago.

Everything moving at a snails pace as usual.

Just their luck that the licence drops tomorrow morning.

Slightly embarrassing to say the least.

Looking forward to the next Helium news more than the licence news.

At least the sp seems to have stopped dropping.

When you look into it the amount raised is very small.

IMO not much left in the bank. Still got salaries etc to pay.

The $5 million from the Zubairs is still stuck somewhere in the pipeline.

I would have thought the Zubairs could have just lent them the money against future income. That is of course if the licence gets sorted.