Member Info for steve58

Someone over on the aminex board haso calculated the gas value in ground at over 12 billion dollars.

So 3 billion to solo or about £3.60 a share.

I'd settle for a tenth of that to be out of it.

Shell investing in a gas project in Canada.

Reef crossed my mind. Just doing nothing.

Must be worth something. Probably not a large investment needed to bring back online.

Not trying to put a dampner on things but if aminex shareholders reject farmout or licence is not renewed then it looks as if we could own 25% of virtually nothing. As for 2020 production add on another couple of years at least.

Wording in rns gave the impression they are putting the valve problem on the back burner. Hasn't impressed the market either.

IMO all the more reason for exiting sooner than later.

If it has taken a year to repair a faulty valve, how many years do we have to wait for a profit here. Of course in the meantime we have to find the millions for drilling costs. IMO do a transaction similar to horse hill and take a stake in aminex for our whole 25%. That way we should get any upside in the sp at no more cost to us. I’m sure the board are thinking this way to all IMO of course.

7 barrels per metric ton so expecting in excess of 3500 barrels a day about £70 million income a year.

Octopus style drilling pads of course only one well but multiple pipes underground extracting the oil.

It's just the sp is awful.

I suppose once it's declared commercial a major rerating is due.

Just getting impatient with the slow progress.

Wouldn't be surprised if the farmees walked away.

Or they could just pick up the other 25% for next to nothing.

I thought things here were bad here but I'm very glad I haven't got a penny invested over there.

IMO not looking that good.

Income almost nil.

Potential claim.

Licence has to be renewed before drilling takes place.

Mobilising equipment etc for remedial work. Not very impressed as nearly a year without any income and any that has been earned is being withheld.

IMO solo will get out of this as soon as possible.

Not sure on that one.

They don’t seem to give out hardly any information.

Very disappointing that solo had no income from gas in the six months reported.

Solo will exit Ruvuma as soon as they can.

What they can get for it depends on when they decide to monetise. Probably after drilling and commercialisation.

But they must be growing very frustrated with the lack of news updates and slow progress.

It would not surprise me if they have a very close vote regarding the farm out.

Reading further it mentions the dividend but also that they intend to invest proceeds in further investments.

Hopefully after shareholders have been rewarded.

Liked the part about returning proceeds of Tanzanier assets sold to shareholders by way of a special dividend.

The dividend could be more than the current sp if the the share price stays where it is.

Good to hear Neil Ritson getting a couple of mentions and taking credit for our current portfolio.

Half year report

Not exactly booming at the moment.

IMO solo will keep shares as long as possible.

Until at least testing completed and updated reserves in place figures are announced and commercialisation declared.

Of course that is probably when the best chance of an offer for Ukog will materialise hopefully from a big player with a pipeline nearby. The price anyone’s guess but I would like to think a multibag of the current sp.

Ukog are diluting at an alarming rate an alarming rate at which IMO solo will not wait too long to divest. We have been down the dilution path already and the bod will not want the same happening with our investment.

So they can’t sell any shares until 28th at the earliest.

Board seem committed to stake although if kimmeridge testing is good Ukog shares may rise enough to tempt them to sell some.

With new board and strategy in place.

My confidence in solo is much higher.

As for retirement I would say 30p should do it. About 200 million market value.

Ruvuma Horse Hill Helium one. Three great assets need anymore be said.

Some of us need 15p just to get the menu printed.

As olderandwiser says participate in drilling up to pre production.

I’m sure the value will increase many times more than expenditure incurred.

I would like to think a complete sale although retaining 5 to 10% for future income cannot be ruled out.

May of course follow the same strategy as horse hill and just hold a stake in aminex at no further cost to ourselves.

Horse hill news soon.

Price of 91p or 18.2p post consolidation broker note 04,07.2017. $10 million even included for helium one investment.

I think about 380 million shares in issue at that date. Surely our asset base has grown in value since then.

Makes the new brokers note seem rather low.

Hope so seems more like groundhog year over there.

Glad you corrected your post in was getting worried.