Member Info for steve58

It will be interesting to see if and when solo sell some or all of the shares in Ukog.

If they were to go to 10p imo they would sell half raising about 12 million pounds returning a fair amount to shareholders.

I think 20p although pushing it if achieved would raise about another 25 million pounds.

Solos returns to shareholders will either be very quick due to complete asset disposals either shares or sale of a specific asset. Or spread out over a matter of months/years.

They have many options open to them dividends scrip issues share buybacks to name but three.

The new board have a wealth of experience at delivering shareholder returns so I would expect a shareholder return before the year is out.

All IMO of course.

Maybe we should have kept a 5% direct stake in horse hill.

As I said before 2.5 million pounds for every penny Ukog shares rise.

I think should they hit 15p solo would sell all of them realising about 38 million pounds.

Would have needed quite a daily oil output to generate that amount in such a short period of time.

So may be the board did the right thing and of course we do not have to spend any more on drilling costs etc.

Hoping for 600 barrels or more per day.

Larger pump being used.

Hope news drops tomorrow.

Solo shares have to rise significantly to compensate for giving up their 9.75% share.

1p rise equates to about 2.5 million pounds.

Sipp.

Good evening to you.

Definitely moving at full speed here.

Mr Fitzpatrick must think they are going to fly.

Not sure of his age but could probably take a lump sum if the shares multibag.

I would do the same as I have nearly half a million in a sill as well.

Notice the wording.

Continue with it’s monetisation strategy under the new board.

IMO a dividend before the end of the year.

Wife's holding.

Must be a good investment.

Loan facility repaid.

I must admit they are getting on with it.

More shares maybe for our 30%.

IMO rather keep.

Regarding horse hill sale.

Solo only gain if Ukog sp rises and they sell shares.

As it stood we needed to spend on drilling etc but would have been entitled to nearly 10% of any oil extracted.

If output of say 20000 barrels a day in achieved in a few years I think the income lost would have been over 30 million pounds a year although by then Ukog would have been sold for a multiple of its current sp.

£2.4 million for every penny rise.

I assume DM is hoping for a similar amount for a share of Ruvuma. I suppose if we could obtain a free carry for 10% share to keep that would be a good deal. No more cash calls and even a bit more in the bank. It seems solo may work things so that they just have admin costs and no drilling or exploration costs to worry about.

News today on horse hill would be great.

Should read they must have a figure in mind.

Solo are now becoming a pure investment company at last.

Could not the same path be followed regarding our Ruvuma stake.

We could end up owning 10% of aminex.

Some good news from Ukog regarding testing should push their sp up together with the value of our investment.

£2.3 million pounds for every penny. They must have a future in mind to sell some or all to return a dividend to shareholders. About 1p dividend for every £6 million returned to shareholders.

I’m sure they will.

Just worries me that Ruvuma will want cash before Ukog shares rise. Although I think we have enough ready cash for the initial expenditure.

If Ukog hits 10p that’s £23 million to solo if they were all sold.

More of a swapping of investments than a straight sale.

Solo make £23000 profit for each hundredth of a penny Ukog share price increases.

Could get quite interesting in the coming months if not weeks.

We can all look forward to taking up our rights at 2.25p a share.

Wouldn’t think their will be any spare ones to be had.

So a 2.3 million pound gain on our horse hill stake already.

Straight through to the bottom line.

Solo should therefore generate a net profit which should rerate the shares.

Shareholders should therefore benefit from the share prices of solo and Ukog.

I can agree with you.

Just caught me by surprise.

I would now say that Ruvuma will go the same way.

Am I right in saying that these shares purchased are new ones issued so a small dilution to Ukog shareholders.

Should be interesting to see how market reacts.

As Ukog hopefully rises some can be sold off and returned to shareholders by way of dividends.

So quite a good deal for us. Just one that I completely overlooked.

The upside is the Ukog shares multibag and our investment increases.

I suppose holding shares is almost as good as holding cash. At least money can be raised at short notice at little cost to solo.

The boards strategy is now very clear it’s just not the way I envisaged it.

Disposal of horse hill stake.

Not very impressed.