Member Info for steve58

The shares still exist it’s just they are not available to trade on any market.

If things get sorted, getting them relisted would be an ideal way to raise funds in the future to help grow the company.

Now they have a few hundred thousand in the bank maybe it would be a good time to relist refinance and reverse takeover another company. An example of this is Oregon gold which had bed investments then raised finance and took over a fashion retailer and seems to be doing quite well.

Anything could happen here I just wish it could be sooner than later.

Mine was the same about a week ago showing £200k but cannot deal.

Would be nice if I could.

News soon hopefully.

More delay and expense for solo.

What will happen.

They drill bring on line and pressure falls again.

Gives aminex something to do as Zubairs have no influence over kn1.

Almost a year to repair a faulty valve.

Seems they need approval for that as well.

Kn1 update

I think it would depend on horse hill news etc breaking before the deadline.

Of course then they would probably be oversubscribed so the number would be small if allocated.

Anybody’s guess.

I’ve been allocated about 75000 so I am thinking whether to invest more.

If test results are ok.

A year maybe two if planning gets sorted quicker.

Profit of about 30 dollars a barrel if memory serves me right.

I would think any costs would be deducted from our oil income so cash calls would be very small if any. Of course oil is sold straight away and no waiting months and months like in Tanzanier.

As dl says in his recent interview once testing results come in Ukog is takeover material from an oil major.

They are just waiting for Ukog and co to do all of the hard work.

How much solos 9.75% is hard to estimate but we should be looking at a company changing amount if our share is sold. All IMO of course.

With octopus style underground drilling could be looking at 20000 plus barrels a day hooked up to nearby pipeline.

Nearly 40 million pounds a year income for solo.

Makes Tanzanier look not quite so good.

You have the right to your opinion. I can agree with you on some points but have to remain positive here as you know
that I have stated before I have too much to lose if it goes belly up.

Larger pump.

Makes my estimate of 550 barrels a day seem realistic.

The more the better. Maybe a combined test result of 2000 barrels a day or more. 10 tankers a day to shift it though.

Seem to remember 135 barrels a day of condensate oil I think were also being produced from kn1.

Seems to have fizzled out like the news from the operator.

I still Horse Hill and helium one investments will generate a lot of money and quicker than Ruvuma.

It’s just I can’t wait around another 30 years which at the current rate of progress seems about right.

400 barrels for the two. About £20,000 worth and 9.75% is our share.

Two tankers out this morning.

Not sure how many barrels of oil a tanker holds.

Testing going on.

Kn1 pressure building up.

Tendering completed. I thought that was supposed to be months ago.

No firm dates for anything.

Hardly an operational update.

Is kn1 actually producing anything.

Definitely worth waiting for. Hmm.

No problem with your very definitive answer.

As I am a very large sum down here that is why I prefer the quick easy way out.

I'm sure if a large offer was received for Ruvuma asset most of us would be quite happy with a 50 million dividend.

I know I would.

Sorry but I must disagree.

50 million in cash is still an asset.

If not sold we have expenditure for years to get 50 million in the bank.

I am of the opinion that in business cash is still king.

Having lots of assets does not pay the bills nor return dividends to shareholders. It will be interesting which scenario plays out and what the effect on the sp will be.

My thoughts entirely.

30 million returned as dividends.

Can then concentrate on horse Hill and helium one.

Probably generate just as much income and quicker.

If that is the case maybe we should depart at the earliest opportunity.

£50 million in the bank should just about do it. Why wait another couple of years to get £12 million.

Company worth 63 million pounds.

Solo have to spend up to 35 million pounds to get to full production 140 mcf a day 30 million pounds a year income.

Why not get together with a gas major and just buy and finance the thing to full production.

Big risk but would be a tad more exiting than the sheer silence we have all suffered since the transformational farmout.