Member Info for steve58

Doesn't look like a very close relationship between solo and Aminex.

Although it could be that nr wanted it kept out of the zubairs hands.

If developed to production could be worth many hundreds of millions if not billions.

Looks like solo have been left with two options pay for our 25% of costs or sell to the highest bidder.

A difficult decision for the board.

Should make the informal meeting very interesting.

Unusual we hear nothing for months and Aminex announce it a few hours before their agm.

Sounds as if weclipse retain our 25% Aminex have 25% and zubairs 50% for about 30 million expenditure.

Looks as if we still have to find our 25% of costs but will look at rns further.

Something up Google showing up 30%.

Horse Hill maybe or even farm out news.

Not sure if it will be recorded as previous one was.

Hope all goes well and points raised are noted and revised resolutions implemented at the forthcoming agm.

I have been saying for ages that given the awful rate of progress and problems they seem to have in Tanzanier.

Rather take 100 million and give a special dividend and increase Horse Hill and helium one stakes. There should still be at least 20 million left over so no funding worries. Could even be a share buyback. Maybe that could be a future option.

Could be double good news.

Aminex agm. Good news regarding licence farm out/ sale.

Horse hill flow rates or at least commencement of testing.

Ideally the overseas investors will offer about 500 million for Ruvuma we walk away with 125 million.

A special dividend to be paid. No fund raising problems the board have justified their salaries.

Back to reality probably no news tomorrow.

Last news from aminex was 30th April regarding agm etc.

Hope all goes as well as it can.

Some tough questions and interesting answers.

Two meetings in a month. Nr and co must realise by now that they have to listen to the shareholders concerns.

Let’s hope they do and take the appropriate measures.

Agreed.

We can blame nr and the board as much as we like but the lack of news updates and their virtual silence for almost a year is what is holding back the sp. I am actually grateful that we do have Horse Hill and helium one to fall back on should Tanzanier go belly up.

Better capacity pump so 450 bopd.

Whilst we can blame the board.

Imo the majority of the blame is with the operator.

They seem to have gothe themselves into a right mess.

I hope it all turns out ok but eight months since pressure trouble and four months since a possible transaction and we have heard nothing. I wouldn't be surprised to see some disgruntled shareholders over there taking a stand. The directors salaries are even higher

Now showing on companies house website.

Four days late so £350 penalty but at least filed.

The octopus style pads only need one drill hole above ground.

Up to 20000 barrels a day from one drill pad.

Almost everything else underground so minimal environmental impact.

Five of those 9750 barrels a day to solo.

At say $40 a barrel profit. Yearly profit £108 million pounds.

Nine times current market value.

Figures may seem unrealistic but a couple of years from now anything’s possible.

Good evening to you.

I sure hope so, I don’t think it can get much worse.

Not a good deal.

Borrow at 10% lend at 1/2%.

Hopefully when flow testing done will be repaid with interest.

It seems more and more that the board are doing just what they want with all these loans placements etc.

It has got to stop, by all means make investments pay reasonable salaries but let the shareholders have a say on at least what we invest in. Due diligence seems like a rude word here imo. Reef, pan minerals to name but two. Nearly 2 million pounds wasted here alone. I assume due diligence was used when the salary increases were put through.
I’m not saying the deserve a decent living but virtually nil return in 8 years should have made them realise that loans and share issues are for investing to make money, not to spend on huge salaries etc for the directors. Just off to count my losses for the day ( almost every day for the last year it seems). If anyone here is going to the aminex agm give them a kick up the backside for me and tell them to announce some news soon.

So we are an investment company earning £3700 a year interest.

Maybe our share of horse Hill costs will get knocked off the loan.

Showing on website some of the pictures are the same as what were on the civex website.

Will be interesting to know what the royalties are on each block sold.

I see investment in Bury Africa formerly pan minerals of £577k has been written off. Another complete waste of money.

I will say no more on the subject.

Some interesting reading in the notes.

I like the bit about active cost cutting measures by the board.

Apparently salaries wasn't one of them.

Now available to view on companies house website.