It’s looking very good at Solo Oil. Retail punter interest is continuing to drive the sp towards 2p which i’m assured should be breached. Following production testing on Ausable5# the well will be connected to the existing central production facility and placed on production as an oil and natural gas liquids producer. The Company’s objective is to have the well on production within the next four weeks they will then push on (Due to the presence of extensive oil and natural gas liquid pay zones in the Ausable #5 well) to begin detailed scheduling for the drilling of the Ausable #6, #7, #8 and #9 wells and the expansion of the Ausable production facility. Currently it is hoped to complete this additional work by the end of 2011.
I’ve been getting some very positive feed-back not least from the company itself. I have spoken to Neil Ritson at length re’ the recent good news. I was rather impressed with the professional way he dealt with questions. One pointer here is that Ritson has a very good relationship with the mercurial Leni and it was Leni who head-hunted Ritson. From what I can gather Solo/Ritson are eager to progress their direct 12.5% working interest in the Ruvuma Petroleum Sharing Agreement in Tanzania following the successful drilling of the Likonde-1 well. The Ruvuma PSA lies in the south-east of Tanzania and covers approximately 12,360 square kilometres with some 20% of this area offshore and the balance onshore. Within the Ruvuma PSA are two separate licence areas known as Lindi in the north and Mtwara in the south, contiguous with the Mozambique border. There are some big-hitters working in this area. Tullow being one. “Following completion of the Likonde-1 well the Tullow operated partnership commissioned the reprocessing of the existing 2D seismic data in order to better image the prospective Tertiary section with a view to selecting a location for the drilling of the second well which is due to be drilled in the PSA during 2011. At the end of the period that seismic reprocessing was being completed and technical work was underway to select a drilling location.”
They are an interesting Tiddler to watch as they are on a charge. How high will they hit? I should imagine that a 3p target could easily be reached on further good news from Ontario/Tanzania. Probably doubling to 6p depending on what the news contains.
Eyes on here. Ritson worked 23 years with BP PLC where he held roles as international chief geophysicist and strategic business unit manager in both Norway and Alaska. In 1999 he was appointed to run the Burlington Resources Inc businesses in North Africa before becoming Vice President UK in 2001 and VP International in 2003. In-fact it is safe to say that Ritson has vast experience in the oil-industry and is well-respected from within the Industry.
There will be some lows here as is the way of small minnows but the highs will more than make up for them.
Eyes on Solo and research them.
Viva
Daniel
PS You’ll all note the recent placing. As foretold here.
PPS Re’ revenues accruing. All proceeds are going to Build a school in Africa when the new site goes live.
Any thoughts on xel reserves report dan? Thanks
Yes Solo oil that sounds good
But what about Matra Petroleum
No much to say about mta
We are close to the end of the mta dream……….
This is the end my mta friend…
Ask bmd were are the picture
Hold your nerve. And await the update.
Dan
Is Matra sleeping or what is going on, it has been ONE BIG DELAY
who are bmd
Matra. It’s all down to the company. You’ll have to await the next update.
Dan
Thk dan sorry for frustration,you doing a good job with your blog
Ciao Angela
We cant wait forever if they dont bring news I wil sell my stocks and buy solo oil, they are alive
and do not bring old news, like a little rain, cloudy, little sunshine and some mud too
A lot of folk seemed to ‘respond’ to this ‘news’ several hours before this blog post was released!
Ive noticed a lot of people asking Dan about his opinion on a company or for him to research a certain stock. I think it would be great if Dan could take some time out and write up a series of articles(or posts) detailing the hows and whys of stock research (in essence some sort of a tutorial i.e. what fundamentals to look at and why certain figures are good/bad indicators and when certain events are likely to shake the market), easing a lot of us here into stock research to a level where we are confident to do it ourselves and then share and discuss our opinions instead of constantly asking for advice.
I know I would find that information useful, akin to the ‘give a man a fish and feed him for a day, teach a man to fish and feed him for life’ principle.
Viva!
Daniel; I’ve asked this before;
David Lenigas is involverd in so many Companies. Can you advise one which has rewarded it’s investors?
Thanks, Ken
Well how long is a piece of string? GCM are probably one of the best affiliations at the mo’ however Lonzim have performed quite well the last year or two rising from 16p up to 30 odd p but really it’s all subjective depending on when you invested.
So take your pick Ken.
Mr. David Anthony Lenigas,Dave has been General Manager Mining of Cambrian Mining Plc since October 2002. Mr. Lenigas serves as the President of Deepgreen West Virginia Inc. He has extensive international experience operating in the public company and natural resources environment. He has over 25 years of experience in the mineral resources industry covering oil and gas, gold, diamonds, coal and base metals industries. He served as Chief Executive Officer of Lonrho Plc … from December 21, 2005 to October 2007. Mr. Lenigas served as Joint Managing Director of GCM Resources Plc, from June 2004 to January 2006 and its Executive Director for Technical since September 26, 2003. He served as the Chief Executive Officer of Lonrho Africa Plc from December 21, 2005 to October 2007. He served as Managing Director of Emperor Gold Mines in Fiji. He was a Corporate Consultant of Federation Group Ltd. from September 1999 to October 2002 and Head of diamond restructuring since March 1999 to September 1999. Mr. Lenigas has been Joint Executive Chairman of Lonrho Africa Plc since December 2005. He serves as Chairman of Five Forty Aviation Limited, Norse Air Limited, Nare Diamonds Limited and LonZim Plc. He has been the Chairman of Celsys Ltd. since February 2009. He serves as the Executive Chairman of Leni Gas & Oil PLC and Solo Oil PLC. He has been Chairman of Lonrho Mining Limited since June 30, 2007 and Lonrho Plc since March 13, 2007. He served as Chairman of the Board of Hot Tuna (International) plc from March 2008 to February 6, 2009.He served as the Chairman of BDI Mining Corp. from March 17, 2006 to May 24, 2007 and Mediterranean Oil & Gas Plc until September 2006. He served as the Non-Executive Chairman of Solo Oil PLC (Formerly, Immersion Technologies International plc) since January 2008. He served as the Chairman of Ortac Resources Ltd (also known as Templar Minerals Ltd). He served as Joint Executive Chairman of Lonrho Plc from May 2006 to March 13, 2007 and also served as its Chairman. He served as Chairman of the Board of Lonrho Mining Limited since June 30, 2007.He serves as a Director Lonrho Jersey Limited; Micobe Property Development Limited; Lonrho Zimbabwe Management Services (Pvt) Limited; Lonrho Africa Management Services (Zimbabwe) Ltd.; Lonrho Africa Motor Sales Limited; Lonrho Properties Zimbabwe (Pvt) Ltd.; Lonrho Auto Distributors Limited; Sindu Properties (Private) Limited; One Hundred & Seventeen Baines Avenue (Private) Ltd.; Textile Investment Company Limited; Sol Aviation Company Limited; Lonzim Holdings Limited; Lonzim Properties Limited; Lyons Africa Holdings Limited; Linus Business Options P/L; Firstfood Enterprises P/L; Chenyakwaremba Farm P/L; Leopard Rock Hotel Company (Pvt) Ltd.; WS Foods (Pty) Ltd.; LonZim Hotels Limited; Morningdale Properties (Pvt) Limited; Lanuarna Enterprises (Pvt) Limited; Medalspot P/L; e-Kwikbuild Housing Company (Pty) Ltd; Rollex Pvt Limited; Lonrho Agriculture Angola Ltd.; Paynet Limited; African Solutions Limited; Rollex Pty Ltd.; e-kwikbuild; Southern African Management Services; LonZim Management Services Limited; Lonrho Air (3) BVI Ltd.; Vatukoula Australia Pty Ltd. (formerly Westech Australia Pty Ltd); Lonrho Hotels Management Services BVI; Aldeamento Turistico de Macuti SARL; Quickvest 525 (Propriatry) Limited; Lonrho Agribusiness (BVI) Ltd; Complete Enterprise Solutions (Pty) Ltd.; Lonrho Hotels Congo (BVI) Ltd.; Vatukoula Gold Pty Ltd (formerly Westech Gold Pty Ltd); Vatukoula Finance Pty Ltd (formerly Westech Finance Pty Ltd ; ForgetMeNot Africa Limited; Lonrho Infrastructure (BVI) Ltd.; Lonrho Water (BVI) Ltd.; Fresh Direct Ltd; Active Resource Realisation Fund; Solo Oil plc (formerly Immersion Technologies International plc); Jubilee Mining Ltd.; Koula Mining Ltd.; Lonrho Aviation (BVI) Ltd.; Lonrho Air Africa (BVI) Ltd.; Five Forty Africa (BVI) Ltd.; Lonrho Air (2) BVI Ltd.; LonZim plc; LonZim Holdings (Pvt) Limited (Formerly Rex Mining (Pvt) Limited); Peak Mines (Pvt) Limited; Blueberry International Services Limited; Lonrho Springs BVI Limited; Lontel Limited; Lonrho Mining Ltd; Lonrho Mining SA Ltd.; Lonrho Finance Limited; Lonrho Resources Limited; Zimbabwean Investments Limited; Lonzim Management Limited; LonZim plc; Lonrho Luba (BVI) Ltd.; Lonrho Air (BVI) Ltd.; Strenner Holdings Limited; Lonrho Africa (Holdings) Limited; Templar Minerals plc; Lonrho South Africa (Propriatry) Limited; Five Forty Aviation Ltd; Norse Air Limited; and Lonrho plc. He has been a Non Executive Director of Zest Group Plc since January 2010 and Vatukoula Gold Mines Ltd. since April 1, 2011. He has been Director of Celsys Print Zambia Limited since 2007. He has been an Executive Director of LonZim Plc since November 7, 2007. He has been an Executive Director of Lonrho Plc since March 13, 2007. . He has been a Director of Lonrho Africa Plc since January 12, 2006, Lonrho Mining Limited since August 12, 2006, and Lonrho Plc since January 12, 2006. He serves as Non-Executive Director of Asia Energy Global Coal Management PLC and Director of River Diamonds PLC. He has been an Executive Director of Leni Gas & Oil PLC since August 2006. He serves as a Director of Lonrho Air (BVI) Limited, Hotel Cardoso SARL, SA Independent Liner Services (Pty) Limited and Swissta Holdings Limited. He serves as an Executive Director of Vatakoula Gold Mines plc and served as its Non Executive Director. He serves as Director of Reef Resources Ltd.He has been Director of Celsys Ltd since 2007. He has been Director of Lonrho Plc since January 21, 2006. He served as a Non Executive Director of GCM Resources Plc from November 5, 2003 to June, 2009. He served as a Non Executive Director of Vatukoula Gold Mines plc. He served as Director of Templar Minerals Ltd. since February 4, 2007He served as Director of Solo Oil plc until January 2008. He served as a Director of Celcys Ltd., Gardoserve (Private) Ltd., Zimbabwe, Lonrho Finance Limited, Lonrho Holdings Limited, Lonrho Investments Limited, Lonrho Resources Limited, Lonrho Springs Limited, Lontel Limited, LonZim Management Limited, Luba Freeport Limited, Our Forgotten Children Limited, River Diamonds UK Limited, Strenner Holdings Ltd., Swissta Mozambique Lda, Wardlaw (1989) Limited, Zimbabwean Investments Limited and Peninsular Minerals Ltd. He served as a Director of New Sage Energy Corp. (Formerly, Consolidated New Sage Resources Ltd.) since November 21, 2003, Mediterranean Oil & Gas Plc until February 29, 2008, BDI Mining Corp. from September 10, 2003 to May 24, 2007, Braemore Resources Plc until May 22, 2006 and Peninsula Energy Limited (also known as Peninsula Minerals Ltd) from April 12, 2005 to February 20, 2006. He served as a Director of BM Diamondcorp Inc. and Deepgreen West Virginia Inc. He served as a Director of Hot Tuna (International) Plc from March 2008 to February 6, 2009. Mr. Lenigas holds a Bachelor of Applied Science degree in Mining Engineering.
He’s been involved with so many companys it’s difficult to traCk he was on the board at GCM and you know the story there here are some of his affiliations;
BDI Mining Corp.
Peninsula Energy Limited
New Sage Energy Corp.
Hot Tuna (International) plc
GCM Resources Plc
Vatukoula Gold Mines plc
Celsys Ltd.
Rare Earth Minerals plc
Braemore Resources, Plc
Mediterranean Oil & Gas Plc
Lonrho Mining Limited
Reef Resources Ltd.
Leni Gas & Oil PLC
Solo Oil PLC
Ortac Resources Ltd.
LonZim Plc
Fresh Direct Ltd.
Hope that helps
Dan
Thanks Dan, I’m sure people will make their own minds up! Ken
Dan
What is your thoughts on Zenergy power (ZEN) it looks to have bottomed out? Currently valued at £9M Mcap with £9M cash in hand and some great IP. There was a couple of big sellers in the stock which was giving downward pressure on the shareprice, these have now finished (verified by RNS) and there are now 2 organisations currently buying the stock (Southern Fox and Aguaglow Ltd). Also the company have had a mojor reshuffle in the bordroom with new directors who can drive the business forward.
Would appreciate anything you can tell me from your end and your thoughts on this stock.
Regards
Mike