Member Info for steve58

May be true up to a point but none flowing for almost a year.

So basically a complete mess up and no income.

IMO we should have stayed closer to home with our investments. Nearly 8 years and not much to show for it.

Our 15% direct stake in horse hill could have been generating £5 million plus per year by this time next year.

Let’s hope Tanzanier comes up trumps not only for the future of the companies shareholders but the company itself and its bod.

IMO still a bad move regarding the sale of horse hill and arreton investments.

Money needed for Ruvuma could have been borrowed and repaid fairly quickly from the gas production.

Thank you for your comments.

You have a point.

My one is that to make investments grow money needs to be spent.

Imo this is just not happening.

If anything the situation is worse now than when nr was in charge.

More money for day to day expenses.

A very frustrated shareholder.

Correct on that one.

Why sell a multi million pound asset for a pittance.

I suppose it gave them something to do.

Gone a bit quiet since their appointments. Must be catching.

Imo we didn't. Just thought they were doing what they said they would do monetise assets at the appropriate time.

Need more be said.

Imo an awful decision by the board.

Worth many millions sold for almost nothing and ukog sp has fallen
about 15% since. As a long term shareholder the board have done nothing that gives me much confidence here at the moment.

We are of course an investment company.

I think that is our problem. We should have become a producer instead.

Only 68 days until the end of March deadline.

They have had 16 months since applying for it.

Not exactly rushing it are they.

Strange but no info on other board.

Still only one company registered at companies house so just an error.

Same here Steve I’ve got 20 million at an average of about .005p so relisting is my only hope of getting my money back.

I can’t see the board leaving the company as it is. They could have wound things up when the limestone business was disposed of but chose not to. Interesting months ahead. Good luck

I know just how you feel.

As for disaster I bought £8k worth of bp call warrants a couple of days before the oil blowout in the Gulf of Mexico. Lost the lot. Now that was a expensive disaster for me and for bp.

Contact details for the directors were changed in November to a lawyer who specialises in takeovers rto’s etc.

IMO something in the pipeline regarding nxt tec. I’m not sure what has to happen to relist but as we can’t stay this way indefinitely I’m hoping that this will all change very soon.

Hopefully once this licence is granted (if at all) the sp will recover. The board are probably as fed up with situation as are us shareholders. Hang in in there I am but will sell up at the earliest opportunity. About 900% down myself so crap is probably a fairly appropriate word at the moment. The assets are on paper worth hundreds of millions but of course without permission to drill and extract them they are worthless which is pretty much what the market is valuing them at the moment. That will of course change once licence etc is sorted.

Having been to various meetings you are probably much more knowledgeable in what is going on so I will go along with what you have said.

Just a thought. If the licence extention is granted what use is it if the gas produced cannot be developed. I am getting very confused with the utter farce this is becoming. The sooner solo can exit here the better as it's looking like another few years before any income will be flowing our way.

I was under the impression that the licence which the zubairs require to be granted by 31st March was applied for in September 2017. Hence 16 months. A very long time imo. We must all hope that it is granted soon.

I wish I was.

Not expecting it soon if at all.

I know the details have to be finalised but 16 months.

Something just isn't right.

I hope I'm wrong but if licence not granted by 31st March there
we are then sitting on a billion dollar asset that is considered
worthless.

I would think so.

Costs not that high.

This investment looks like it could take off big time.

Hoping investment is increased per last update.

Being listed would make it easier to raise finance by way of an open offer etc.

Looking forward to next update which should be very soon.

If the directors would have wanted to wind the company up they would have done so after sale of limestone business.
They obviously see a future for the company and its shareholders.

Slight problem is some of us need another 800% just to break even.