Solo Oil Share Discussion Threads

[edgein] 16/2/2017 08:01

mill,

Don't worry about these, focus on your SOU they're gonna need every bit of encouragement they can get to support that cap, NT-3 couldn't drill itself without cash, they now have the $2.5m approx to drill that well, bring it on. We'll see if our small cap is impacted by the flow rates from NT-2 and result of NT-3, since you don't think so I guess you'll be the first seller of the day. :)

Regards,
Ed.

[simon8] 16/2/2017 08:00

Ed...it is the easy option and frustrating, the share price will now tank but hopefully only short term..... he needs to clarify the RNS.... it states that this funding is only in relation to NT2 and reviewing options, it doesn't mention it is also for NT3 drilling unless I missed that...so in a few weeks time is he going to dilute us further for funds to drill NT3?

Same old Ritson, he is a clown....

[c31161] 16/2/2017 07:55

I'm hoping most of the hit came yesterday

[paulhgreen] 16/2/2017 07:54

We now have a new well called NR4

[paulhgreen] 16/2/2017 07:53

I wonder how much of the cash NR will get his hands on ???

[millse] 16/2/2017 07:51

Edge, same solo I remember from years ago, any opportunity to raise cash taken, that's likely the end of the short term rally imho.

[edgein] 16/2/2017 07:49

Well simon, what were his options, there wasn't enough cash to drill NT-3. He could sell Canada but that wouldn't raise much. He could sell KN-1, but that's currently our only cash flow. He could have sacrificed a wi in Ntorya, not at this stage that's for sure, would be complete madness before drilling NT-3. He could have dressed up in a tutu and waved a magic wand hoping for a gift from the gods. He chose the easiest option to fund Ntorya, a small placing for less than 6% equity, upside of that is a hell of a lot more than 6% with Ntorya.

Regards,
Ed.

[1bonanza] 16/2/2017 07:47

I thought we already were fully funded for this drill ?

[c31161] 16/2/2017 07:46

I'm disappointed at the timing but if we are honest NR couldn't take the risk of waiting for flow tests in case the were below expectations, at least we are now fully funded, we all knew it was coming just I think we hoped after flow tests. Also I thought NR could have given the chance to share holders.

[greatfull dead] 16/2/2017 07:45

If it need to be done so be it. I don't like it but read the RNS again. This is what I do like.

"The net proceeds from the Placing will be used to fund the Company's share of the imminent well testing programme for the recently drilled Ntorya-2 appraisal in Tanzania and the analysis of future development options for the Ntorya discovery, where Aminex plc is the operator.  Solo holds a 25% working interest in the Ruvuma Petroleum Sharing Agreement and in the Ntorya gas and condensate discovery."

I Have to admit this RNS was badly written, AEX are testing as I type and results are due IMHO this week or by Friday 24 Feb 2017.

"imminent well testing programme for the recently drilled Ntorya-2"

You can't have all the cake and eat it! Again IIMHO all will be well come test results are released by AEX.

Good luck all,
GD

[edgein] 16/2/2017 07:44

LOL,

Well if you wanted NT-2 tested and NT-3 drilled what did you expect. Small placing and now fully funded for NT-3, excellent news.

Regards,
Ed.

[rayrac] 16/2/2017 07:35

Aminex dropped too.

[simon8] 16/2/2017 07:35

It's Ritson's modus operandi! We all had to know we were going to get diluted by him again, will keenly watch the opening action to see if this takes the wind out of the share price and we start a rapid decent or whether with news imminent we hold on to some of the gains.

This is sadly the way he is going to keep going as he is clueless, expect more dilution later I expect.....

[1bonanza] 16/2/2017 07:33

And that explains the drop !

[rayrac] 16/2/2017 07:31

For just £2m, less expenses? Pathetic! But what else could they do? They obviously had to beg.

They really needed something like £20m.

[1bonanza] 16/2/2017 07:30

Not impressed!!!

[temmujin] 16/2/2017 07:28

grab the vaseline guys...shafting time..lol!

[paulhgreen] 16/2/2017 07:21

Mugged again

[tmmalik] 16/2/2017 07:10

Here placing comes ,typical solo

[c31161] 15/2/2017 15:43

Yeah but we live in hope

[warwickdwarner] 15/2/2017 15:21

And this weeks euro numbers Are

[c31161] 15/2/2017 15:10

From aex board on another siteGreat news LTH... I tried to snuff some news from Our friends Omani investors, but was almost impossible. After that I discussed the log file with few petrohysist and geologist who has great links to many staff worked in international oil and gas companies worked and associated with Tanzania and with latest RNS regarding NT2 drilling...the test result will come above all expectation...50 to 60 mcf a day with reserve above 1.5TCF and confirmation of hitting Leconda with big oil reserve...

[warwickdwarner] 15/2/2017 12:42

Anyone thinking about LGO next