Member Info for steve58

That was 15 years ago.

I had millions at 1/4p consolidated to 25p sold out at £7.50 although I sold at about £1,25.

I remember the giganti well blow out in 2000.

They were only producing a few hundred barrels a day.

In comparison solo equivalent would be many times that.

Hopefully an oil gas major should come forward soon.

You’ve hit the nail on the head there,

With the assets we have the value of solo should be in the hundreds of millions to say the least.

Once licences commercialisation etc start to flow through the system we should fly.

As at the moment we seem to be stuck on the ground.

Looking forward to the months ahead.

Seems like the big players are sniffing around. I wonder how much our nearly 10% stake in horse hill could fetch once commercialisation is confirmed. Starting price anyone.

Again thanks for your time etc for the recent meeting.

I think nr would have probably gone anyway as he sees the monetisation of projects as the end of his tenure.

He is of course still on hand with his technical skills etc which I think will be very useful.

Big Dave his usual self in interview. He has a point that regulation is holding horse hill up. Let’s hope the Gatwick gusher does gush and maybe the government will fast track things as they need all the tax revenue that they can get at the moment.

He seemed much more relaxed almost a new nr.

Maybe retirement from the board will do him good whilst still being around for consultation and back room work.

Mostly below ground so environmentally friendly.

Should be looking at tens of thousands of barrels of oil a day if testing comes up trumps.

Hook to pipeline straight to refinery.

Value to solo tens if not hundreds of millions.

Isn't it good that solo don't have all their eggs in one basket.

All coming together nicely. Helium one news soon.

Hopefully within a couple of years.

Octopus style drilling pads linked to pipeline.

Should be 50000 barrels a day minimum.

5000 to solo nearly 100 million a year income to solo.

Makes Ruvuma look small in terms of potential future income.

Up to about 500k a year income to solo on this alone.

So we could use loan facility to start things off then raise money as required from shareholders.

Or nr just sells it when licence is granted.

Crystal ball time I think.

Solo then monetise asset at the point of production for a huge profit and payout for shareholders. May only be 18 months away.

So we could use loan facility to start things off then raise money as required from shareholders.

Or nr just sells it when licence is granted.

Crystal ball time I think.

Solo then monetise asset at the point of production for a huge profit and payout for shareholders. May only be 18 months away.

I would like to think so.

Once production licence in place imo 50 million would be very a very conservative figure indeed.

We do of course have tax losses of many millions so the return to shareholders could be a bit more although any deficit on reserves have to be cleared before any distribution of dividends.

Does make me wonder how much solo would be worth with production licence in place drilling and seismic completed horse hill testing completed and ready to go to production. We must not forget helium one ipo and hopefully production next year.

IMO assets will be sold off Ruvuma horse hill helium one in that order.

Should be in the hundreds of millions at least. Horse hill or even helium one stakes could both be worth more than Ruvuma.

Maybe a tad higher.

40 to 50 million pounds returned to shareholders.

We would still of course still have horse Hill and helium one investments for future income.

Do we sell or raise the money to production.

Could be in excess of £30 million pounds a year income by 2024.

I cannot believe nr will want to wait that long nor us shareholders.

Some difficult decisions ahead.

Figures look very impressive but still doesn't answer what solo will do with their stake and how far and how much they are committed to spending before monetising the asset.

I'm sure nr has a plan. I hope it will be in the best interest
of the shareholders.

About $40 million a year if we keep our share until 2024.

Should be worth a tidy sum to a potential buyer.

All well and good but will the demand be there in 5 1/2 years from now

Those sort of figures may interest a possible buyer of our stake.

36mcf a day for 25 years. Income on back of a very large envelope please.

Just an update.

Accounts were datestamped June so no penalty.

No excuse for lack of refreshments at the agm now.

We need Neil’s old company bp to show an interest. Petty cash for them. They could take out aminex at the same time.

Anything possible but with the almost lack of communication between aminex and solo a complete sale and the parting of company seems the most likely outcome.

Nt1 seems to have been forgotten. Seems greed is coming into the equation.

I hope the sale comes as soon as possible after licence etc sorted. I know we will not get as much as we should get but with the zubars controlling virtually everything we are probably better off out of it.

We can then concentrate on Horse Hill and helium one and maybe take over operations in Canada.