Member Info for vike1

Corp Comms have always caused a drag on AEX's sp performance so I won't even go there. BUT, if they were in fact in the midst of finalising a farm-out agreement, mgmt would be in a very strict 'quiet period'. We're now near 2 months in from the original statement, which coincides with any formal RNS' (aside from ARA legal requirements). Also, the drift is not surprising when you consider the lack of news here + the outstanding performance among many junior O&G companies benefiting from $75+ brent. If I didn't think a major annoucement was coming in the next two months, I'd have more of my capital working elsewhere too.

Some chunky sells in that sea of red among share trades.

I'm a big fan of LK and the assets, which is why I'm invested here. As for excitement though, mgmt have been crystal clear that their base estimate for year-end production is 1,000 barrels per day, up from about 600 today. That's good operational improvement, but hardly big numbers. SWP is where the action is, but mgmt have again been very clear that it's a 1H19 play at best. I believe mgmt, as all holders here should. Excitement I suppose is a subjective term. It will come, but unlikely in the next 6 months... where's the catalyst? I hope I'm wrong. Maybe that 'big deal' that LK will come to pass, but that comes with big risks too.

There are Oilies that have a more exciting next 6 months ahead in Trinidad, let alone smaller companies across the globe. Look at TXP, they have 2x the year-end production estimates as us with half the m/c (though they're catching up quickly). They've been riddled with debt recently, but at $70+ per barrel, these Balance Sheets are getting wiped clean quickly. All these juniors are fighting for the same hot money, and with not much excitement here for another 12 months or so, we may struggle keeping up. Despite improved fundamentals, etc. etc.

LT, I wish you all the best with your NUOG investment, but that is the mother of all risky bets. I've never seen a publicly traded company that has actually negative Shareholder equity. Technically that means YOU OWE the company money, though of course that's unlikely to come to pass. Looks too like a company that will be beset by years of dilution and fundraising. And as for governace, it's run by a father son combo (Chair/CFO), which smacks of nepotism instead of meritocracy. Even if they're nice guys and respond to notes. All iMHO of course, and that's the last I'll say of it. Had a look, and it may come good, very good, but is not one for the fainthearted. Good luck with it! The shortcomings of this stock, are too well known and documented to restate here, so will resist the temptation to any outline any semblance of risk-taking hypocrisy.

One thing to consider: if you're sitting on a big loss and need to sell, it's better to hold the shares outside an ISA as you can offset those losses against gains from other sales. I have some in and some out of my ISA. Some days I wish these were all out, but I'm sure eventually I'm sure I'll be glad some are in. It'll also be interesting to see if Mgmt do an exercise to assess whether they'd be better off buying back shares instead of issuing a dividend. CGT taxes are lower than dividend. Also, if sp is well below book value, they should look to buy back as it represents better value.

Agree that another resolution can be added with sufficient time. Also that the 20% is (hopefully) just prudent planning in case farmout doesn't happen. I still think we'll get a chance to vote on the farmout sooner than later. Nothing's guaranteed of course but even the Chairman stated in the ARA that he hopes to conclude this "early in H2" this year. This is in a heavily audited document (moreso than an RNS) so the statement had to go through some challenge process to get approved. IMO.

Just noticed that quietly on Friday, the notice and business resolutions for the AGM were published on the website. No mention under Special Business any action to approve farm-out proposals. Just more permissions to grant shares as needed, or in the event of a Rights issue. This last one was also included in last year's resolutions so, I believe, is there to give mgmt flexibility to raise money if needed. The only difference is that this year they're able to raise upwards of 20% of existing share capital compared to 10% in 2017. Hope many on the BBs can attend: at 2.00 pm on 11 July 2018 at Grange Wellington Hotel, 71 Vincent Square, Westminster, London SW1P 2PA

Mick, as a WRL holder you should have great respect the fact that SOLO haven't sold out on the cheap. You'll recall when WRL (formerly known as Artumas Group) sold off its Rovuma offshore acreage to Cover Energy for peanuts, who then flipped it for �1.2bn. Ouch. Imagine where they'd be if they held on that? Not comparing SOLO's onshore acreage to offshore LNG peak, just that selling early before you know what you've got can really hurt.

What on earth does that tweet mean? Opportunities across our existing acreage? Across Trinidad? Further afield??

Last year, all the talking heads thought the sp would continue to rise in the lead up to the drill, but this didn't happen. In the few months before, the sp stayed flat. Where the sp gained was in the lead up to the lead up, which is where we are now. Is akin to the 'new new thing'. My money is on continued gains for the next month or so before flattening out before the 'real' lead up begins.

Looks like a good one, too bad we're not there. I don't see any reference to Wentworth, but perhaps I missed it.

They tested at a peak of 1600+ flow rate over a 2 hr period, combining multiple zone results. This is expected to drop dramatically over a longer test period, as they always do. My takeaways from mgmt over the last few months is that Portland shows good promise to stay steady, but Kimmeridge not so much. Could surprise on the upside, hope it does but those higher rates are possible only with a full field development. Not in any way de-ramping, but expectations should be realistic. The market clearly agrees, as ALBA's 12% holding at $75 brent would generate over $400k per month. No way we'd have an �8m m/c at those rates.

UKOG is a fun share to trade because it has such wide following, but with a lofty valuation and some terrible financing arrangements, it's not one I'd ever hold for more than 24 hrs at a go. IMO of course. I only like to punch them with kid gloves though, as I've done ok trading them, and may do so again.

Looks like MMs were caught holding buckets of shares. All buys, few sells, and no price movement.

My expectations for HH flow rates are much lower than many holders, esp those owning UKOG! However, even steady rates between 200-300 bpd would be a good result to start with. Loftier flow rates may come with wider field development, but that will take years IMO. However, even at a modest mid-point production of 250 bpd would gross the company c.$50k per month before costs. Small beer for sure, but add to that resumption of Kiliwani later this year, Ruvuma farmout, and H1 IPO proceeds, and there's decent cash that should come in over the next few months, esp for a minnow with a �15m m/c. SOLO's not one for the fainthearted for sure. And only invest what you can afford to lose. Either way, suggest you make your bets now. Personally, I wouldn't mind seeing that ASK fall below 3p so I can pick up more in the 2s. Not convinced that'll happen though.

At the UK Investor Show last month, NR suspected HH testing would begin in 'about a month.' That's a couple weeks from now, so not far off, assuming final licences in hand. No rig being used, just some sort of crane contraption. Could be that driving a massive rig down the highway would be like prostester moths to a flame. I think they're keen to set up on the down-low with security in place to prevent any misdirected human barriers going up.

At the Investor Show last month, I was told by a related CEO that HH testing should begin 'in about a month.' It was an estimate, but we're looking at another two weeks or so. If we can start selling even the test crude at $70+ per barrel, that's some decent revenue just around the corner. Just don't expect test results to be anywhere near 1600 bpd. Closer to a couple hundred or so.

With an AEX farmout putting a floor on the value of our Ruvuma assets, and HH ready to start testing in next couple of weeks, even NR can't dilute away the pop this share should enjoy in the very near future.

It's a good exercise for SOLO to undertake, but I hope they have some decent answers to provide this time. If there's no news on TZ Development licence, HH testing, or H1 IPO, what's the point?