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Natural gas price in Europe is reaching multi year highs. Maybe they should have stuck with the last strategy!
I was looking at the website this morning, you would of thought the CH1 project would of been front and centre. But its not mentioned anywhere.
If you don't search the corporate update, one wouldn't even be aware SCIR had that project.
Exactly BD, it's all about the CH1 drill, the biggest drill this company has ever seen with both appraisal and exploration across two geological stacked targets, 763 BCF 2C appraisal + the additional 1TCF Jurassic and then the 3rd factor the oil they have been following west and up dip since the Tullow JV days.
Plenty of oil in the last drill cuttings which goes someway to substantiating the trap displacement up-dip theory (ref Mike Rego)
Question is for me, when to best build my holding for the drill?
Any placing should be done on the run up to the drill (so Q4) to raise enough cash to get us past the 25 yr development license and maybe beyond.
Fair enough Big D.
Not sure I would be expecting the SP to rise with drilling. We know there is gas there.
My view is 5 years of dilution to first gas. Hopefully they get some of the placing away at a higher price but I can’t see the driver to get above say 2.5p on confirmation that the HE1 stake is sold. Placing will have to be done soon after that if the BOD want to get it away at the higher SP. much easier to raise money if you don’t need it immediately!
mrc-mr. - I was under the impression that they were selling their stake in Helium. The funds hopefully will be used to fund Ruvuma 3D and CH1. Running up to CH1 spud we should see, based on previous drills, a share price of between 5p - 7p IMO. If further monies were then required the dilution to existing holders would be minimal. More than likely we would then, once 25 year licence granted, sell part or all our share in Ruvuma. I’m patient enough to wait for this to happen as I can see some nice rewards. That is why I will be topping up very soon.
Hi big D - this is a high risk company so I hope all your money is not tied up here!
How will the next 5 years be funded do you think?
I think it was yourself that thought the next placing would occur at market cap of £50 million. Could you tell me how you think the current BOD can 5x the market cap without further investment?
But mrc my post was about my observations of you, not those people you have mentioned.
I don't want this to no turn into "what he said she said". I take no issues with what you or anyone else posts. If you feel its necessary to take people down a peg or two or point out why you think they are foolish, so be it.
mrc-mrc - yes I’m chasing the CH1 drill, at which time I will do very well thanks, but no doubt you will be well gone by then.
Shouldve - I would love for investors here to be rewarded. Some will be I don't doubt. Nothing wrong with reasoned discussions about what might be a good entry point. Obviously some don't like that because I point out the SP can go down as well as up! If you are secure in your decision then it should not matter.
I am quite astounded that experienced high net worth investors like Chris and BD are still chasing dreams here, and seem to be getting led down the garden path by the BOD...
You have to ask yourself - do you trust salesmen like AA and Chris who would love nothing more than to offload their shares to you at a healthy profit? These are the guys who were calling it higher and egging on the ramping crews in the last 2 spikes!!
mrc by all means continue to debate your points & opinion, that's what this BB is for.
I does feel to me like you are heckling whenever a chance appears.
Its ok by me to say you believe a company has been run badly or a set of Board members, a CEO or a decision is garbage and the reasons you think so.
But it doesn't look to me as that it what you are doing. It more so feels like you are pelting people with tomatoes for being invested when anyone posts something factual or optimistic.
I mean if someone posts something false, ridiculous or unrealistic, then of course highlight why you disagree.
Feels like investors wanting to make their money back is a trigger for you.
This is just the perspective I have gained. Of course you are free to call that perspective garbage.
Should’ve - no, as I say, I just comment on a company which I have done a lot of research on. Is it investable for me at the current price? No. Does the company have big problems? Yes. Are they insurmountable? Not with the right strategy and a motivated BOD.
mrc but does it help you? I mean do you find it cathartic in any way?
Bigdouble, its like drinking poison and wanting the other person to die, I guess we're all different.
A bad investor is one that is unable to move on when they have lost money in a transaction. Anyone that still posts multiple times on a share that they have no current financial interest in, has usually become obsessed as they just cannot let go of the thought that they made a bad decision at the time of investing. They will never make money as all their efforts go into looking at the negatives and therefore are scared to hit the buy button. You choose if that’s you.
Hi shouldve - actually I checked my trading history last week and I am pretty flat on SCIR. I just like to express my view on the share as I have been in and out of it for the last few years, and would invest again if a new BOD is installed.
I was positive about it when the BOD came on board. Like many I was impressed with their CVS and the skin in the game. They did well early on with the sale of HH and tidying up the asset base.
My view really changed with the announcement of the last deal (thankfully I was not invested at that time). It was a rotten deal from the start - not enough reserves, high cost of borrowing, and actually just over priced.
Of course we then had the news that all of these disposals and failed deals had been costing the company millions in fees.
If this was a £50 million market cap and some cash and cash flow underpinning it then I think the BOD could make a go of it. Getting to that point is where they are I’ll equipped.
I think their position is that they will do nothing till the tax dispute is resolved, although in saying that I believe part of the upcoming 3D includes some of the licence area SVS.
mrc I don't know if you feel more aggrieved than any other shareholder, or perhaps you have lost more than all of us put together on Scir. Either way, do you feel venting your disdain here the way you do, helps with the healing process?
How many more name changes, placing, and consolidations will SCIr go through before first gas?
Will we still have the same useless BODs at the helm?
Will there be a third strategy launch by then when this one has failed? It’s going to be an exciting journey!
If Aex had the motivation or ability to get KN1 back online, it would certainty change Scir's fundamentals.
Maybe its something that could be revisited in 2025 when Aex is generating cash & can afford the capex.
But back to HE1, I don't want to have to hold for another 4 years in hopes SCIR can generate enough incomes to become self funding.
Would sure be good to see the tax dispute resolved and further development over the licence area, all the infrastructure is there in place with a pipeline to the gas processing plant.
I think the outstanding bill is around $7million with over 8% owed so SCIR.
After the KN1 demise I decided I was no longer going to invest any more money into Solo and would stick this in the bottom drawer in hopes that one day I would break even.
Based on the HE1 potential, I think my sentiment is reluctantly changing.
I am in two minds whether to wait to see if a sub 1p entry opportunity presents itself whilst HE1 is drilling.
But getting in 20% cheaper is a bankable margin.
The Fundamentals still haven't changed for SCIR, its still not generating cash and won't be until 2024 with Ruvuma. Unless an acquisition comes within that time, I still don't view SCIR as worth investing any more into.
That being said HE1 could go to the moon & should drag SCIR with it.
I am not now thinking about possibly of this getting back into profit but more so a lower average for break even.
Its tempting. If you see a £10 buy, that might be mine lol