Member Info for vike1

OG_Newbie, any details from the discussion that you can share? Thanks

Hope it's a good one on Tuesday. Thanks in advance to attendees for any posts you can share with the rest of us that can't make it this year!

Wish I could attend, but hopefully a few here are able to attend the SOLO AGM on Tuesday. I know a few of the SOLO holders that will be there. It's a big ask for many to take time out of their days for it, but I find their (revamped) board to be pretty straight shooting. Details below, can attend as a guest if not a s/h:

SOLO: The Company's Annual General Meeting ("AGM") will be held at 11a.m. BST on 27 August at the offices of Buchanan, 3rd Floor, 107 Cheapside, London, EC2V 6DN.

Could well be. The LNG negotiations will be so complex and multifaceted, I assume pricing models are done on such different terms. Either way, our licence extension and farm-out deal should be treated as a totally different matter. PSA terms can wait IMO, and let's get on with de-risking our business model and get that drill bit down!

On PAET, I thought it was a l/t deal that replaced the existing s/t deal, but I could be wrong. I remember the announcement being a bit confusing (at least for me!)

Hi cp, am keeping an eye on that event as well, though I assume the Minister's comments will focus on the LNG deal. It could be that those talks have pushed ours to the side, yet the MoE was still able to sign a new PSA with PAET at the end of May. Here's hoping they can do more than one deal at a time!

Great stuff BD, thanks in advance for sharing feedback with the BB!

Anyone attending this year? 11a.m. BST on 27 August at the offices of Buchanan.

I went last year, but am out of town this year. I found the new BoD to be a pretty straight shooting bunch. Interested to know if they feel as downtrodden as the rest of us here, or genuinely confident of a resolution to the TZ stalemate.

I think it's the next line on the Swala deal that is more interesting, basically implying that deal is dead:

"... However, the board of directors continues to believe that Swala's proposal is unlikely to result in a transaction that is either financeable or otherwise capable of completion given the regulatory and third party approval requirements and significantly undervalues Orca."

Link to full announcement

https://www.globenewswire.com/news-release/2019/07/25/1888447/0/en/Orca-Exploration-Announces-Review-of-Strategic-Alternatives.html

WIth thanks to StoneFold on SOLO board. Interesting to note they've set up a special committee to complete the review, and have added Linda Beal to it. Linda is on AEX's Board of Directors.

Thanks StoneFold. Interesting to note that Linda Beal has been added to the special committee. Linda is on the Board of Directors of Aminex.

2D processing on Kiliwani seismic is meant to be completed by July, which they stated only last month. At the very least, hoping to get an operational update on that. I think there's a good chance the approvals come in next couple of months -- licences, extensions, planning, drill bit goes down during weather window in 1H19.

Would like it to all happen, but getting some operational clarity alone (plus 3m cash) will juice the sp back to an upward trend, IMO.

This Ferrestal fertilizer development will be massive for all local gascos if it finally takes off next year:
https://www.ippmedia.com/en/business/construction-3bn-fertilizer-plant-lindi-expected-start-2020

Mgmt etimate of drilling Chikumbi in H1 2020 is disappointing. Was hoping for govt signoff was forthcoming and could drill shortly after that.

To be released on Friday then? Six months from year-end is the AIM requirement. Tick tock tick tock.

Max-P, good luck at the AGM. I wish I was going as I usually do, but am currently abroad. Don't sweat the rule about no questions. Once you're in the room, it's a free for all. Would be good to get clarity on what steps are needed to get Ministry signoff on our deal. Also, did the PSA review look at the tax claim against us? What is the next steps on KN-1 and Kiliwani South.

Would be very grateful if you could post thoughts and comments after the event!

FWIW, I wouldn't want to make any comparison to Orca/Swala. Unless you missed it, their tie-up has been called off. A business or regulatory decision?... who knows

http://orcaexploration.com/news/news_19_31_March.shtml

Anyone else curious about who extracted this condensate? Looks like it came from Songo Songo processing plant. I could be wrong, but I thought only Orca and Kiliwani was processed from there. And I've never seen reference to condensate from Orca. Considering how long it takes anything to happen in TZ, could this have been sitting around for the last 18 months? The volume for sale is the same as what was posted in January. New condensate or just re-advertising the same product?

http://www.tpdc.co.tz/wp-content/uploads/2019/03/Tender-Advert-Condensate-Spot-Sale-March-25th-2019.pdf

Good to see a couple news stories about Oman doubling down their investment in Tanzania, financing their massive new $10bn Bagamoyo port and renovating heritage buildings in Zanz. I'm sure the gov't will be keen to really f'*k these guys over on their industrial and energy investments.

https://www.thenation.com/article/tanzania-china-bagamoyo-port/

https://www.dailynews.co.tz/news/2019-03-075c811867711a1.aspx

Fantastic RNS. At least they're making big improvements to the things they can control, and putting some common sense and structure in place to support the business. Less thrilled about the pace of progress in TZ, but let's not go there today.

No disrespect for Dan M, as he seemed like a bright and good guy, but it feels like the adults in the room have taken over the reins for now.

Still no clearer though on the long-term strategy of this company. Are they building it to be an interesting O&G investment vehicle, or clearing the decks to monetize the assets at a reasonable price, and shut her down after pulling in some decent returns from these levels. Watch this space!