Solo Oil Share Discussion Threads

[c31161] 04/4/2016 08:26

The money will come from the gas sales

[1775] 04/4/2016 08:22

Maybe a partial swap with HH ????

[simon8] 04/4/2016 07:39

looks good but the following statement in the release I find a bit worrying;

"Payment of the second and third investments will require further funding from cash flow or otherwise to be arranged by Solo."

What does "or otherwise" mean, had Ritson got his beady little eye on a dilutive on the cheap placing to screw us over again...given his track record I am now concerned and perhaps this is why the share price has headed south and had little support post Tanz gas and HH flow-tests.....

I guess we have to watch this space, but I for one would not trust him given his track record.....

[oakville] 04/4/2016 07:21

Gas will be processed at the new Songo Songo Island gas plant and will ultimately be transported by pipeline to Dar es Salaam, where it will be sold into the local Tanzanian market.

Neil Ritson, Solo's Chairman, commented:

"Solo is delighted to increase its exposure to the KNDL project with commencement of production imminent. The project offers a revenue stream that will increase through the commissioning process and into commercial production under the GSA which has take-or-pay provisions and is paid in US Dollars guaranteed by a consortium of banks. By linking the acquisition of our additional interest to project milestones we have been able to further de-risk the investment."

Current participants in the Kiliwani North Development Licence, following TPDC back in, are: Ndovu Resources Ltd (Aminex) 55.575% (operator), RAK Gas LLC 23.75%, Solo Oil plc 6.175%, Bounty Oil & Gas NL 9.5% and TPDC 5%. On completion of the payments envisaged by the SPA Aminex will hold 51.75% and Solo will hold 10%.

[oakville] 01/4/2016 18:36

I don't have an oiler stock but this looks an interesting play.

[barony] 01/4/2016 13:05

5% rise in sp, why? Must be time to show revenue from Tanzania soon surely? What about more news from HH, or licence in Nigeria, or drill news from Tanzania? Lots of news due around now!!

[barony] 31/3/2016 15:22

I agree with you Simon. I don't think we will see true worth until income is enough to return cash to investors in some way. Aim has turned into a complete gamble and there appears to be no trust in the future.

[c31161] 31/3/2016 11:47

Aex on the move

[flyingbull] 31/3/2016 11:38

The April oil stock competition is now on! Deadline for entry is midnight tonight! Good luck!!!

Previous competition results can be found here

[football] 31/3/2016 11:28

it's not blue! it's just a very very dark red that looks all most like a blue

[c31161] 31/3/2016 09:43

Can't believe I see the colour blue

[niceyman1] 30/3/2016 15:01

Then you get ast 8 bag in 3 days on approach, with no price mentioned and no certainty anything will happen!

[simon8] 30/3/2016 14:53

Did I miss something - Tanzania on target for gas flow and revenue and HH flowed beyond wildest dreams.... and the share price seems to behave as if nether ever happened? WHY!!!!!!!

[barony] 30/3/2016 14:18

Come on NR tell us about our income in Tanzania and all the other good news!

[optrade] 24/3/2016 07:20

#UKOG #SOLO #ALBA #DOR “truly a game changing well“.

[y1phr] 23/3/2016 02:49

Christ mate you must have lost a hell of a lot of money on this one. I have made loads.