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Solo Oil could go So high ! (SOLO)     

skyhigh - 19 Oct 2009 08:28




From the Financial Times this weekend

Solo Oil , which is chaired by David Lenigas, rose 15.4 per cent to 0.75p on talk it was close to announcing its first deal.

I'm on board this morning..good story developing here (imho) ... onwards and upwards... anyone else in ?

Balerboy - 19 Feb 2010 19:02 - 63 of 351

you been on the elderberry wine rf.....

required field - 19 Feb 2010 21:36 - 64 of 351

I think you might be right, it should be "miss Ping" !.

required field - 19 Feb 2010 21:38 - 65 of 351

And I've bought a few of these.....oh!, we'll all go down the pan together....

gibby - 20 Feb 2010 15:02 - 66 of 351

articles (or should i say a few lines) for solo near bottom of these links:
http://www.reuters.com/article/idUSLDE61J01M20100220?type=marketsNews

http://business.timesonline.co.uk/tol/business/markets/article7034451.ece

from another bb:
'morning oilers

listen to me very very carefully i shall say this only once...

suddenly everyone is interested in SOLO - as many know i've held from before the placing first buying last summer, i've read all the facts, the rumours, the lies the half truths - all the ramps and de-ramps - i've argued with many - i was even told shouldn't i be ashamed for "getting people to buy" when the placing happened, i've watched the trade flow day in and day out - every mm on level 2 - every shake, every fall, every false dawn...i have not ramped this - i've even been accused recently of being a de-ramper when i tried to explain that fair value on estimated was not as high as someone suggested.

1.This is now a hot stock.

2.Lots of people are buying in on momentum with little or no research.

3.There is lots of noise and misinformation.

4.Buys for SOLO tend to happen below mid - trade data is always always inaccurate.

5.If the FT can get it wrong then you need to read all the rns for solo - understand the exact nature of the risk , how much debt does the co have - if any, how much cash does the co have if any, what is the asset they own? is there any geological oil positive evidence in the area where they own the asset?



solo own 12.5% of Likonde-1 and the right to participate in the Ruvuma psa at a cost of 12.5% for a stake of 12.5% on any further drilling.

There is currently only 1 well - likonde-1 , AEX have provisionally scheduled a follow up in Q4 2010.

Tullow estimate it's 151 mill recoverable IF they find oil.

AEX reckon they will get more than 5 usd pb.

You do the math. 151 mill times 12.5% divided by 1.54 (gbp/usd) times 5 divided by 2,080,000,000 shares. Obviously more than 5 usd means this is the minimum fair value. Then add 1 usd for an incremental sp projection. If it's 8 usd ? Of course some keep saying its only 3.

At 3 usd i get a sp of 1.76p

At 5 usd i get a sp of 2.95p

At 8 usd i get a sp of 4.71p

obviously along with the amount of oil recoverable the key driver of value is the profit per barrel.

So if they find what they've estimated and get the minimum profit ber barrel ..of course they may need to drill more wells to get at so that increases the cost and lowers the return however we would need to know the cost of a 2nd well. if the cost to solo is 2 mill gbp (they have 4 mill cash and if they find oil 950k from directors hydrocarbon dependant opitions) then revise the above as follows

At 3 usd i get a sp of 1.66p

At 5 usd i get a sp of 2.85p'

required field - 20 Feb 2010 15:26 - 67 of 351

Thanks for that Gibby....it's still a big gamble, that's why I have 95% in AEX and just 5% in SOLO....

gibby - 20 Feb 2010 15:43 - 68 of 351

rf - no probs - you are right big gamble - initially i was going to split around 70% aex / 30% solo - through greed i have increased my solo % and decreased aex - your option is the most sensible & safest if you can call anything safe here - but i just have a feeling higher % will come from solo - barring a disaster both should do very well

required field - 20 Feb 2010 16:42 - 69 of 351

Might be an rns update this monday 7am...fingers crossed for some positive news.

TheFrenchConnection - 21 Feb 2010 01:04 - 70 of 351

Mes amities /. Personally;lt strikes me as little more than a one trick pony with too many shares in circ esp given its m/c. .Reading between all the lines it has the hallmark of something of a wildcatter.... ln saying that Tullow have some top draw geologists who with an element of skill , and prob. a bigger element off luck have done remarkably well in exploiting wildcatters .Also they are confident hydrocarbons are in them thar hills . Very much so. { lf in doubt look at Chinas decision to build the entire infrastructure of Tan in exchange for mining prospects ) But Tullow can afford to sink a lot of wells - Solo cant..possibly one / and in order to raise more capital city will probably ask for share consolidation to offer mkt liquidityand to get it out of that utterly DOOMED sub 1p catagory of shares.... All in all -.ld rather put my monry on the 3-30 at Newmarket .........

jkd - 21 Feb 2010 03:52 - 71 of 351

TFC
another with horse racing interests i see.i think you would get along very well with tabasco. he has french connections also and also is interested in horse racing. i think you two would get along very nicely. have you conversed with him on this board yet?
you may find him on the "talk to myself" thread (not talking for myself) but very similar.along with on many other threads but may be more difficult to find elsewhere. i.e the others., as he by his own admission uses many aliases.
i hope you 2 will one day converse as i would find your conversations and exchanges most interesting to follow.
good luck to you
regards
jkd

gibby - 21 Feb 2010 08:55 - 72 of 351

from another bb

http://img213.imageshack.us/img213/9752/solod.jpg

Pointdexter - 21 Feb 2010 11:16 - 73 of 351

Incredibly Monsewer TLW have a 75% well success rate. So there! Go to Newmarket - awful track - prefer Lewes.

TheFrenchConnection - 21 Feb 2010 19:58 - 74 of 351

jkd - Oddly enough i came upon the said invidual on the very thread u mention . Twas very complimentary about both france and its people; positevely waxed lyrical . Even i wish i could say such things with such blind conviction :-)) But this is not a sentiment shared by many of his fellow brits :-)). Sorry to be a little dim ; but your sentance commencing " you may find him" and ending with "many aliases" is a little lost on me Perhaps my interpretation is wrong but are you suggesting that he and l are one and the same person ? ...Being a gambler all i can say is that you would lose your shirt if you bet on it.vous vous trompez !. Multiple ids on the same board should be stopped./disallowed .The culprits must have a disorder. Personally i think its a waste of time and energy......bonne chance a' vous aussi....a'bientot JK @+......Do you hold a position reg SOLO non pote ?

TheFrenchConnection - 21 Feb 2010 20:14 - 75 of 351

With reg to english tracks - l prefer tight courses @ both the roodee @ Chester and York.With folkestone and its tight bends . The prizemoney in Eng. is crap tho. So better racing to be had at home . ..................l know TLW have a good success rate in strikes / said as much in my post. But you cant deny it is a Sh** or bust scenario for SOLO . Plus l juste dont like SUB 1p shares with billions of shares floating around

required field - 22 Feb 2010 09:47 - 76 of 351

.....I'm going solo down in Acapulco......no rns yet....it's going to be one of those mid-day ones and if you're not watching.....ouch if it's negative !.

cynic - 22 Feb 2010 10:52 - 77 of 351

this is another of those very very dangerous micro-mini stocks ..... not only is it MM only, albeit that there are a good number of them, but it is offered in tranches of only 100k which is barely 900 even today

required field - 22 Feb 2010 10:55 - 78 of 351

It's a gamble, but in the event of success : big gas discovery or even better, oil....something above 2p would be the base....100% in sp at least...I have a few and probably will not add....

Balerboy - 22 Feb 2010 15:21 - 79 of 351

worrying we've heard nothing up to now... if there was good news it would be out by now.

mnamreh - 22 Feb 2010 15:28 - 80 of 351

.

Balerboy - 22 Feb 2010 15:31 - 81 of 351

been there before....

mnamreh - 22 Feb 2010 15:37 - 82 of 351

.
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