Member Info for steve58

Seems so although suspended.

I hope once nxt tec takes off we will even participate in an rto.

Given the boards experience anything is possible.

Hope for news on investment soon

So at say a 10% recovery rate about 3 billion dollars.

Could be very profitable for solo owning about 13%.

Not worked the figures out but looks bigger than horse hill and Ruvuma added together.

Depends on amount recoverable.

90+ bcf.

We are looking at big money here.

He was going anyway but shareholder sentiment and probably the Ruvuma delays meant he went maybe 6 months to a year before he would have gone anyway. It is good that he remains to give technical knowhow. Which is what he seems to be very good at.

What if licence etc all agreed drilling completed and resource upgrade.

What if helium one ipo is done drilling completed and production commenced.

What if Horse hill testing completed and production licence obtained.

Of course all the above will not happen that quickly but should ultimately happen.

The sp is basically equal to the cash and shares we have available to dispose of to raise additional cash.

Ruvuma and helium one are both valued at almost nothing. Whereas either one of these assets should be worth more than the current sp alone.

Interesting times ahead.

I have about 70000 reasons to be a fed up long term holder.

We were actually valued at over 40 million pounds in the reef days in 2011.

Makes no sense to me.

Hopefully the company will turn the corner and the sp respond accordingly.

This will of course go to the bottom line.

Solo may even make a profit and have earnings per share.

We do of course have a deficit on the profit and loss account which has to be cleared before any dividends can be paid.

Ruvuma about 1000%. That would be a good return for shareholders. Not sure how much Ruvuma has cost us but would think 100 to 150 million return would be about right.

Food for thought.

It could be the new board want solo to be a large investment company instead of a very small investment company that has had
8 years to prove itself. Solo needs to be much more dynamic ando get involved in much larger investments. This may then change the attitude of the city towards the company.

Interesting.

We are fully funded for first drill at least.

Could helium one be moving from the back burner so to speak.

Rto into helium one. Many times the potential of Ruvuma imo.

I think many shareholders would like to see the back of Ruvuma with hopefully a nice sum returned to them

Reef must be worth something.

Fair point.

Could they be gearing up for helium ipo.

Still think Ruvuma will be sold as soon as possible. As you say post drill.

For £90,000.

I don’t think so.

Arreton was costing them nothing at the current time so no effect on current cash flow.

If disposal was for a few million pounds that would have been different but £90000 and a few shares just doesn’t look right to me and the timing is awful in view of the current licence situation.

Don’t agree.

A tiny amount of cash and a few shares, Hardly enough to cover overheads. I honestly thought they would keep this investment much longer imo we have lost out on millions of potential income here. You just think to yourself. What’s going next. Today’s transaction will do nothing for shareholders sentiment.

Can’t believe it.

Only disposed of iow to Ukog.

They haven’t a clue imo.

I was under the impression that if licence not signed by 31st March 2019 they can end the agreement.

So nothing guaranteed. Interesting to know what aminex have spent the millions that the zubairs gave to them last year for their 29% stake.

The problem is we have spent all this money and none of it is priced into the sp. Doesn't give a lot of people much confidence.

As you say spending money on assets should add value to a company. Unfortunately our spending has not. Nothing priced into the current sp.

Board must be keeping a close watch on the situation.

Does future expenditure and constant lack of news warrant staying in the project. If zubairs offered usome 20 million or more for our stake imo we should accept it. We have had nearly 8 years for what.

I know it is suppose to be near farm out finalised drilling etc but at least another 10 million in costs to us.

Aminex shareholders could vote against it because imo they have given away 50% for a very small cash amount and projected future expenditure. Very difficult to know what will happen. If the vote does go against the farm out where would that leave us.