Member Info for steve58

That spiral seems to be continuing.

Horse Hill very quiet.

As for Tanzania imo the whole thing is a farce.

Aminex shareholders are not very happy going from a lot of the posts over on their board.

Confidence dropping again here.

Not at all happy with things.

Hope forthcoming news will change things soon.

My point is that we recently raised 3.6 million.

Maybe more cash needs to be spent in a short period than we have available. I will still be disappointed should they sell too many ukog shares and the results are good.

It will be interesting to see how it plays out.

My point of argument is why sell to raise such a small amount when you have millions of available cash in the bank.

I rest my case

I have to disagree.

The profit made on this disposal is very small.

Not a very good business transaction when they don’t even need the money.

Not a good deal for shareholders imo.

Surely can’t need the money when only raised a few million a few weeks ago.

They could have sold a few weeks ago at a higher price selling less shares.

Maybe they need to cough up more for nt1.

Hopefully some explanation will be forthcoming.

Defies logic imo.

If selling why not wait at least until further test results.

Although only a small amount still throwing potential profits away.

Would realise between 25 to 30 million pounds.

Plenty for Ruvuma and that special dividend which I would like to think would be 2 to 3p a share.

Then finance drilling to commercialisation of Ruvuma and release more cash by way of a farm out or sale of some or all of what should be a multi tcf gas and hopefully oil asset.

All things considered, much to look forward to in the next few months.

Would hope it was a buy.

If solo sell any at the moment that would generate cash but little profit.

They swapped a 9.75% stake in horse hill for a 4.5% in Ukog.

They save the expenditure but are wholly reliant on the Ukog sp.

Maybe they could have retained a 5% direct stake but too late now.

IMO some of the market makers live on another planet.

Maybe bad news will have the opposite effect on the sp. Ukog sp after today’s news still falling.

3500 barrels a day at $60 profit a barrel is good news imo. But then I am not a market maker.

Definitely said update.

I thought an update was regarding remedial work etc.

Another botched up Rns imo.

Aminex are going to be strapped for cash until farm out money is received.

Hope they don’t expect us to bale them out again.

Not exactly sure what it means.

Seems bounty owe for costs related to kn1.

IMO they have done the right thing. Why pay for something that is deriving no income.

They are still liable for and abandonment costs.

I can’t see solo bothering with this farce much longer. Still no word on fixing the problem.

Kn1 update.

Good point but would free us from millions of expenditure.

May even be a penny a share dividend from proceeds.

Saw dl interview he does make some good points.

So maybe solo should farm out 12.5% for 10 million and have a free carry on the other 12.5%.

I think figures are correct. Based on what aminex got for their 50% stake.

Good to see spread has closed.

I knew that £12.34 trade would start the upward momentum.

I'm sure you are right.

However a lot of us hsve our doubts.

Confirmationo and offers are one side of the coin.

The other is gas extracted and income from it.

When the drilling is done and the physical gas is being extracted and sold then any doubts I may have will go.

I'm sure they are, however, something can't bring right with the sp where it is and the market totally uninterested in the huge assets we hold. I hope everything is as it seems.

I shouldn't say it but we have been given a lot of big
numbers regarding Ruvuma but only from third party companies.

I'm not saying anymore on the subject.

In the last 12 months solo are down 58% Aminex are down 55% so not much difference. However, we do have horse Hill and helium one investments.

Imo those two investments are probably our mc.

So Ruvuma seems to be priced in at almost nothing.

Wrong board I think.

News about 3 or 4 times a year some due soon.