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Might take a few goes to get past 30. Sp removed from fundamentals on days like this.

Not too late!

Good to hear Jay is eager to talk to Analysts. Suggests to me that situation isn't dire, and messaging needs some context. Hopefully another update this week.

This week. End of the month was just Saturday. Need to give the guys a day or two to add up month-end numbers.

Until we see details of the io development plans, we don't know what all the costs will be. The longer term plan is to connect to the main pipeline, but that could be a few years away (along with NT 4,5,6?) The country doesn't have the capacity to take on much more gas in the next couple of years, even with Kinyerezi II coming onstream later this year (which will add only 35MMscf/day at capacity), and that can be supplied by Mnazi if needed. I'd like to know more about the EPS plans. It could be CF positive, but will likely need some investment. There are missing pieces to this equation that aren't clear to me. But, simply laying a spur to the main pipeline seems over-simplistic.

Notice how I'm subconsiously referring to Ntorya as Zubairs' asset? I think we all know how this story is going to end.

I won't yet guess what that will say about NR if he's locked out of the farm-out discussions. I do suspect Zubairs will want SOLO kept away from their asset though, and are including them in talks. SOLO would be deadweight when you consider the future cost requirements to develop the asset, and probably distrustful of the quality of partner they'd farm out to.

IF Helium 1 go public later this year, we'll know exactly whether NR overpaid. He spent �2.55m on a 10% stake, valuing the company at �25.5m at the time. He then had the gall to suggest that H-1 value had risen to �40m just two months later, when he tried to purchase a 2nd 10% tranche for �4m. Fortunately, that was strong-armed largely by this Board! Then of course, Dan Maling prob sketched out a Financial Statement for H-1 and we got chucked another 5% just for that. Did he really �2m worth of work? (Assuming the value HAD risen to �40m that is). So, when the company lists this year on the ASX, what will the IPO price be? Higher than our buy-in rate, which would value the company at A$47m? Or the 2nd tranch option value of A$73m? Maybe the company is going intergalactic, and our original �2.55m investment is now worth �10m, so H1 should IPO with a market cap of A$182m+++? We'll know soon enough perhaps. If it *actually* goes public.

If NR maintains SOLO's cycle of dilute, dilute, dilute, followed by reverse stock split, this company can maintain its market cap forever while shareholder value vanishes into thin air. This means there is never an actual 'bottom' to this stock. It's all just smoke and mirrors. The only thing real are one or two of the assets it holds. Well, Ruvuma at least. The others more closely resemble magic beans, but I'd be happy to be proven wrong.

Will we see news tomorrow regarding a 'small' transaction? Hopefully. Will give us all something to chew over for the long weekend.

Missed the last couple questions at the end as my phone fell off, but they did cover cover flow rate estimate, which was helpful. With new mgmt coming in, I suppose all estimates will be off the table anyway. No other suprises.

It's good cashflow, though mgmt stated: "The Company expects gross gas sales from the Mnazi Bay asset to average between 65 and 75 MMscf/d throughout 2018". Seems pretty conservative considering they had a tremendous Feb, with continued growth in demand over the year. Not sure why. I'll be dialing into the call at 3pm as Geoff and Lance do a good job of talking through the numbers, and answering questions. Perhaps they'll shed some light. Too bad they're leaving, and that they're dropping the Q1 and Q3 reports.

32% of a 100MMscf/d, no?

Based on LK's comments last week, we should expect production of 650-700 boed. As it is when analysing to BoE/Fed minutes though, it will be the comments on direction of travel, and latest estimates that will be even more important.

Apols, that should read 'UKOG' and ALBA

Racing up today in anticipation of the start of HH testing, and SOLO is, well, left solo.

I agree and disagree. AEX need the money clearly, and this could well be the driver of the transaction. However, SOLO also desperately need the money. That Riverfort loan is a sham that will crush the sp beyond repair if it starts converting to shares. Plus, it only has a 12 month term per tranche, a chunk of which was used up day 1. Will they close a farm out by autumn? They have a bit of cash left over from the capital raise, and major bills coming up for NT3, HH, 15% of all H1 operational and (potential) listing costs this year, and possibly Kiliwani-S. I think NR would jump at the chance to sell off a part to Eclipse, and give SOLO some much needed oxygen.

Would seem a bit cruel if AEX manages to farm-out a share of Ntorya without SOLO slicing off a piece as well. Would also be a final humiliation for NR if that happened. I think unlikely though, as I'm sure he's been on the phone with JB, begging bowl in hand, to get a piece of it. Am also pretty sure Eclipse (and/or others) are keen to get the SOLO monkey off the back of this asset.

Why no flow rate guidance? Surely they've been doing something over the last four months...

The Statoil statement only refers to 2018 spending, not Verbier flow rate tests. Statoil would have to know the flow rate results WELL BEFORE making investment decisions. Considering the capital markets event is only 2 months away, it's more likely they have the results already. Statoil also suggested they MAY undertake as many as 3 wells in 2018, which to me, suggests they like what they see. I expect news shortly.