Member Info for zebbo

I have tweeted solo, awaiting response, suggest others try and contact then and request explanation re consultancy fees

Resolution 2 - Vote down, full explanation required?
Reappointment of DirectorThe Board recommends the re-appointment of Mr.Jon Fitzpatrickwho retires by virtue of the retirement by rotation provisions contained in article 126 of the Articles and,being eligible, offers himself for reappointment, as a director of the Company

Steve agree on both points. We should be able to get production with no / little dilution

Yes the AGM would be an excellent place to raise payment concerns - Annual General Meeting of the Company, to be held at the offices of BuchananCommunications, 3rd Floor, 107 Cheapside, London, EC2V 6DNat 11:00amon27 August2019

is the past time to bury it. We cannot change what has been done. You need to look forward or move on. I believe its as simple as that, different BoD, different direction for the company, simple

Lets hope we are a very different company in 12 months
BoD are clear, they want production, to be in control of our destiny
Todays assets are loaded with ifs and buts, hence change of direction from investment company to production company
If they land sustainable production within 6 - 12 months, I will be happy.
Sorry to disappoint but my glass is half full - NAV £18.2M
Reef - Reef intangible was fully impaired with a resulting impairment charge of £0.30 million charged to the profit and loss in 2017.

Lots more to go as we approach flow test, I'm expecting .3-.4 pre test & resource uplift who knows post test. Could absolutely fly

Topping up thats what I'll be doing Monday, even though I already have a 7 fig holding. Having read through the RNS fully, the future has been well sign posted along with the differing opportunities. At the end of the day it comes down to trusting the new BoD and they are making the right moves with a very clear strategy
FYB

RTO on the cards IMHO

Bit piece meal and ad hoc order. Para phrased in parts

Selling Ruvuma? - excess of 190 bcf (over 30 million barrels oil equivalent ("mmboe") to SOLO
Aminex selling 50% of its interest in Ruvuma. The transaction represents a very significant milestone for Solo as it validates the commercial attractiveness of the project. Aminex's transaction emphasised the significant discount of value currently ascribed to Solo's material interest in this project. The transaction has galvanised Solo's confidence in its ability to divest its interest at a significant premium to the value currently assigned by the market, and the Company's efforts to realise value from this core investment have intensified. But are fully funded for the Chikumbi well if required.

I hope that this is the last report that I will write for the Company in its current form. We are on the cusp of true transformation that is not reliant on outcomes outside of our control, such as success with the drill-bit or government approvals.
Solo now has a very clear strategic vision; set a net production target of at least 5,000 boepd within the next three years.
We recognise that our success will ultimately be judged on delivery of this stated strategy and we are confident that 2019 will be a transformational year for the Company and its shareholders.

Company is debt free. Board of Directors hold 7% of the shares in issue. Cost discipline is a key focus for the Board, with cash of £2,999,000 at period-end.

We are encouraged by the discussions that we are having. We are looking to move on acquisition opportunities that provide the Company with cash flow. We are very mindful that we wish to achieve this growth without raising substantial equity and thereby diluting existing shareholders

Helium One continues to represent one of the core investments that the Board believes will deliver a significant return on investment, given the strong underlying fundamentals in the global supply / demand balance of helium. Helium One is capitalised through to the drilling of the exploration well, currently anticipated to commence later this year, subject to rig availability and certain licencing conditions. We expect to see further progress during 2019 in delivering a route to liquidity

Couple of points
My take is they have a few production opportunities. Likely doing DD. Thats how the bridge the NAV gap IMHO

Happy to stick in bottom draw. If they do close the gap, it suggests a significant uptick in SP, at least double todays SP
Lets not forget you dont need a load of cash to pull of production deals. SQZ & RRE spring to mind straight away. They have gone from strength to strength in a relatively short space of time and have needed very little capex for some deals - DYOR

It is Beta, but not great lots of chat not showing.

Anyone know if the watch list is real time prices or 15min delay?

We have proven plays that will come on stream at some point and the value of these assets is no way reflected in the SP, that is for sure. Then there is the prospect of picking up production assets. I continue to relive in the strategy and when this pops, as it will do. Those in at these levels will be rewarded

Lets hope Pete pulls his finger out and gets a deal done. Hes obviously not concerned about the SP rightly or wrongly

At least if there are some dry holes later this year our SP cannot go much lower. Currently valued at Jack S

Anyone know when the first drill bit will turn.

I haven't seen any firm dates published yet

I dont disagree, but the vid on funding is still not specific about how much funding will be required to confirm the value add opportunities or whether it will be funded by a JV partner. Lets hope its the latter. I will be more than annoyed if they look to raise more of this lowly SP

http://www.liberum.com/videos/asiamet

**mid tier...predictive text. Before some saddo points out a spelling error

Agree, we need some "crystal clear" clarity on funding and the next steps that existing funding will buy. JVs have to be the way forward and soon. The track record of management is not great, everything seems to take twice as long as promised. Maybe that is funding etc etc. Another reason for JVs lets accelerate the various projects. If Solg can partner up with cornerstone investors why can't we. Perhaps thats where sinpac come in and prove there worth. Their investment is already under water.
Bottom line is we are looking very cheap given the assets and set up for a low ball offer. Would not be surprised to see a few mid/large tear miners running the slide rule over ARS

3 year strategy....not 3 months. Some people seem to have problems with the calendar.

I would rather wait another 6 months for a good deal as opposed to a quick fire deal that is poor. Personally hoping for suspension (this could be up to 12 months) and return as fair sized player. The BoD do have the required skills to pull this off. Our time will come.

Folks, you either believe in the BoD or you dont.
Currently trading little above cash. Im not even interested in current assets. The move to production is key. You dont need a load of cash to secure production research SQZ & RREs model. Our BoD have the expertise needed.
Bottom line - with the current SP, there is little to loose and plenty to gain

I'll drop Mr F a line and see whats happening. At worst a prompt

SP has dropped a little but we are at such a low base. We could 5 bag in a breath

China production down 5% + Chile strike