Solo Oil Share Discussion Threads

[temmujin] 21/12/2016 16:01

lenigas just tweeted...reckons its going to be a big one

[edgein] 21/12/2016 15:48

Neil Ritson, Solo's Chairman, commented;

"We are delighted to have confirmation of the start of drilling at the Ntorya-2 appraisal well in the Ruvuma Basin. This low risk step-out from the discovery well is anticipated to provide significant encouragement for the development of the field and the results are eagerly awaited."

Too bloody right Neil, couldn't have put it better myself. Eagerly awaited is gonna be edge of the seat type stuff 6 weeks from now. Then possibly NT-3 back to back and HH planning permission decision. Cap only a mere £19m still, incredible, well done to those that got some more cheapuns again today. We're likely to see development/testing of HH in a few months and we've basically got a free crack at NT-2 in the mean time, its not priced in. Given the number of payable reservoirs in HH and the non-conventional potential from natural fractures (no need for frac) I'd be stunned if its not a significant discovery already given the test flow rates.

Regards,
Ed.

[doerx2] 21/12/2016 15:40

Always some sort of balls up near td. Seen it all before.

[obmuj] 21/12/2016 15:12

Ntorya-2 spud announced. Here's hoping!

[1bonanza] 21/12/2016 15:09

Indeed, with positive results and some HH news I might even get back into the blue!!!

[loveandmoney1] 21/12/2016 15:08

Let the Games Commence

[edgein] 20/12/2016 16:29

Rossann,

There's been plenty of volume over the last 1-2 months that's eventually clearing out a 15% seller. Once cleared the demand will be there but the supply not so much so given what's coming up for SOLO over the next 6-8 weeks. That included Mr Ritson adding another £15k/5.5m shares too, a wise man. Its interesting though that you feel the need to tout for AEX business on here, the SOLO thread. :)

Regards,
Ed.

[c31161] 20/12/2016 14:18

I've been around this from the start, did you know solo originally use to make speakers

[greatfull dead] 20/12/2016 13:48

rossannan,

I do not think Edgein statements are auguments. More like his own opinions on his own analysis and possibly others.

GLA,
GD

[greatfull dead] 20/12/2016 12:12

Good time to add if you set a buy limit.

[runwaypaul] 20/12/2016 12:11

you sound like you could do with a cuddle.

[c31161] 20/12/2016 09:52

I'm stuck in here at 0.5p just like many others

[runwaypaul] 20/12/2016 09:32

SOLO???5 Dec '16
More people trapped in after today --- including me

SOLOSoloToday 09:22
Think I'll cut my losses and run
Once it spuds it'll drop more ?

these are the kind of berks that the market has to munch through.they are useful in that they are present to merely provide ppl who have an idea what theyre doing with their entry and exit prices.we will need this one again in a month or two to sell our stock too,again.

pmsl

[edgein] 20/12/2016 09:02

SOLO by comparison is much much better value, far more projects and potential. As well as KN-1 and NT, they've got HH and IoW, also Nigeria pending. Cap here is a mere £18m, AEX already over £75m. SOLO has very little in for NT, there certainly is a portion of NT already in AEX i'm afraid given its cap. We'll have two significant projects ongoing early next year whereas AEX will only have our joint project. Oh and JB at AEX is no miracle worker in terms of finances either, I held AEX for ages, one discounted placing after another and disastrous drilling on Nyuni. So I chose the one with the most upside this time around, Ntorya followed by the interest building on HH is likely to be very positive on the share price here. Smart money is going on SOLO rather than AEX and ALBA as you're getting two for the price of one here and either asset early next year could see these above 1p, two together and its gonna get very interesting for SOLO this time next month.

Regards,
Ed.

[whoppy] 19/12/2016 11:30

That's why the share price is marked down. Cash reserves being spent and not sure if the well will be successful. Have to wait and see.

[edgein] 19/12/2016 11:23

Oh and the market is still primed for speculative rises too, look at the COPL chart. Rose significantly on anticipation of their exploration well before the exploration risk has become a reality there. SOLO on the other hand has a diverse range of production and appraisal assets and a much lower risk due to the fact that its an up-dip appraisal well. Once the seller is cleared here it'll no doubt get its speculative rise too, backed by the fact that HH is also about to kick off in the near term (planning decision due around the same time as NT-2 results).

Regards,
Ed.

[edgein] 19/12/2016 11:16

Whoppy,

I've never seen an O&G company get a return on drilling before a well has been drilled! However I've seen many oil companies rise on anticipation and results from appraisal wells in my 25 years as an oil investor. Look at SOU for example, years away from a return on drilling and they've recently hit a £500m cap. They're certainly not fully funded to develop a very large gas field. There is no uncertainty here, SOLO fully funded for NT-2, operations have commenced. 6-8 week drill time expected and both CEO's have suggested that development could be months rather than years. If you think that developments should be fully funded before something has upside you should also look at 88e and SOLG for example, both rose significantly due to results but both are years away from full development of their assets. SOLO will fund development if necessary through either reserves based lending or the markets. Either way the market cap will be significantly higher should NT-2 be successful in 6-8 weeks time.

Regards,
Ed.

[whoppy] 19/12/2016 10:37

Need to get a return on the cost of drilling. Costs upfront to drill, so need to hit gas. As yet it's uncertain until mid February, and market doesn't like uncertainty. When we hit gas it will be positive, but then the market looks ahead at how will Solo fund development. Hence the share price goes up and down with the risk. Par for the course with these explorers.

[edgein] 19/12/2016 10:16

Sellers still getting a premium on the bid, 0.27 to sell and bid at 0.26, buyer still trying to get himself some cheapuns.

Regards,
Ed.

[edgein] 19/12/2016 10:13

Whoppy,

SOLO are fully funded for this well which could see the gas in Ntorya increase from 70Bcf to a potential 370Bcf, with the possibility of follow-up drilling to increase that to 1.5Tcf+. Not out of pocket for anyone here at all. A start-up in a few days is neither here nor there, now that operations have commenced its now a count-down to results. Results that could have a major upside on our £19m cap given the other assets here.

Regards,
Ed.