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14p paid and decent sized trades, looks like it's getting ready for the next leg up to me.
Colin This share has nudged up and after taking out all my liabilities in HE1 I was so tempted at 13.10p but got big profit in the super beast anyway and not quite there to trade like that but could end up green today I feel as of course peeps who make 100% like me in a few weeks were going to top slice and no matter how much I feel this is at least 16-18p after many bad mistakes I was never going to not do and many others felt that way it appears, I wished the BB here had the nice few we have on telegram but only 16 tbf and want more folks please, just search our company name in the Telegram box and you are in but constant negative folk will be banned of course as we only want to focus on the good things coming to this stock and too much negative thoughts is destructive to the mind, a whopping 42 members on the AEX chat GLA !!
Mrc, your idea of balance is different to most peoples, certainly the oddest poster I have come across on Lse, always looking for confrontation and hypocritical to the point mania.
Hi AA - thought the board needed a bit of balance given yesterday's gleeful posts about the rising HE1 SP! £70 million is very expensive for a wildcat exploration play. As far as I am aware there is no other pure helium play in the world. That sort of trailblazing usually comes with a lot of risk.
Yes AA here he goes again on his daily crusade !!!
Mrc, the modern day Nostradamus, lol.
Helium one stake worth a bit less today. I wonder if that was the top of the spike?
I feel a shareholder revolt coming on. No mention of developing Ruvuma in the latest strategy.
To be honest I think the previous strategy to buy gas production was a good one. What the heck are the BOD doing?!
My view exactly Sambo12. I would prefer to hang on for CH1 before SCIR progresses its revised strategy. After all these years (a decade in my case) it would be very disappointing to bow out now. I hope the BOD realise this and I'm sure that they do.
Hi Sambo12, all is good, hope you are also well.
Myself and Chris have always had a fairly good dialogue with both the board and Ben. I have on several occasions aired my views to them with regards to retaining Ruvuma and as I understand all options are still constantly under review. As I have not communicated with them now for a good few months, I will once again, send an email to them just as a reminder.
Hi BigD,
Hope all is well. Do you have current dialogue with the BOD to understand their current intentions? Seems like this is such a crucial decision / juncture for SCIR that the shareholders (many of whom have larger holdings and have been involved for much longer than the BOD) should really have a say in which direction we take. I’m confident that nearly all shareholders want to see SCIR fully participate in the CH1 drill. After all these years and millions invested in Tanzania, it really would be brainless to sell out cheaply before such a high impact drill. After all, SCIR have got the same 25% interest in Ruvuma (albeit theirs comes with a free carry) and our market cap is a fraction of AEX.
Time always is a healer Chris and have high hopes for HE1 and good for Scirocco if they do it right, Telegram update 38 on the Aminex one and still 14 on our one and they are a lot more chipper than we are, GLA !!
Quite agree BD and exactly what I have been saying and boring this BB with for months. The ROI on the bods "strategic investments" is around 5 years, probably much less than the already proven Ruvuma resource and EPS. With the signature of the Uganda/Tanzania oil pipeline on Sunday and the expected alongside gas pipeline with up to 1BCF demand a day, Ruvuma looks like a much better return either through a sale post CH1 or through to production.
Helium-1 in the meantime is flying, the market seems to love it and the market is always right ;0)
mrc_mrc_mrc_mrd thats ok, I taken alot of stick myself but as I post every trade on my Twitter good or bad but mostly good nowadays people can`t complain, I`m a man who starting off with 28k in 2017 and watched it dribble down to 3.6k last March and fought my way back to healthy sum today but work in progress, I even traded this a few time since October last year and I am a firm believer without trades the stock would simply not move but constant driving down is wrong, I was on the Oilex Telegram today and I made 100%+ on the stock and sold my last bit going down at 32 and I posted there once since I sold that I will target 25 to buy but won`t post until/if I get to my objective, It going to be very hard to not get any dilution on the 2022 drill but if the board holds there nerve and sells our stake at the correct price then it should be minimal in my view, are they capable based on evident so far we will have to see, but on the HE1 volumes today £4.4 Million traded and still a month away from the event I feel they got a bloody good chance really as the SP will be a Min 18-19p soon !!!!
Sorry Frank for over posting - genuinely think this company could come good. But with current strategy it is a disaster, and I think BOD do not have the right incentives. Big D is right - if Ruvuma is sold for $20 million. The SP goes to 2p but if the cash is spent according to the current strategy then we are looking at very slow SP growth.
At this point I think they need to have another re-think and just focus on funding and developing Ruvuma with as little debt / dilution as possible..
Alternative is to leverage up for these new asset purchases and go big.
SCIR are just too small at the moment to be viable IMHO. Fees and salary more than eat up any profit from asset sales.
Ariel, yes there are seeps.
CoS is less than 30%
You need to use the old noggin!! Seeps don't equal commercial helium system!!
I am of the opinion that they have had more than enough time to prove themselves.
We have had an aborted deal and a name change.
Millions spent in fees and other costs for what!
We moaned at nr for spending money on some very dodgy assets but without ruvuma and helium investments the company would have nothing.
Imo if the so called experienced board cannot come up with a deal or even decide on a permanent strategy for the company then they should be replaced.
Even if they strike helium? it's oozing out of the ground.
I think many would follow you on that BD and why they need to sell this HE1 stake for the MAX price possible, but it depends on what non professionals or Professional outfit they choose to use as it could end up a right chimps tea party and here hoping not as it going to take knowledge of small caps and experience to get the best price in my view and it will have to be in many small trades and they have to get on the case ASP starting this week to offload that 4% GLA !!!
I will agree on some point you just made Colin but you have to learn that constant banging on about it loses credibility as well, well at least one negative post is ok a day I guess if you are invested that is, where I agree on is the money from UKOG stake has evaporated and that One Dyas deal was a bad mistakes really but timing was bad too, hopefully this is the correct chart for Gas Prices then & now https://twitter.com/oldfootballprog/status/1381645008265170944
I agree with Frank and Big D.
Get some cash in the bank by selling non core HE1 and fund Ruvuma.
I am also of the opinion the BOD have to go. They are far too keen on "external" consultants. If we let them sell HE1 I think we will see any profits eroded by fees. They spunked so much cash from the UKOG stake. Incredible they have got away with it IMHO.
AA - it's a gamble because the reservoir is a. Complete unknown except for seismic. Needs testing with the drill bit. I am given to understand the CoS is less than 30%?
There is nothing other than speculation currently to support the £70 million pound!!! market cap.
Even if they strike helium, can you really see much more value? The SP looks expensive to me. Could it be a case of sell on news? Probably better value at the blackjack table!!
mrc_mrc_mrc_mrd there are plans afoot as our main objective is to fund as much of the drill as possible would be of tremendous benefit and relief to the shareholders if this is achieved so watch this space folks !!!
Sambo12 - I’m in agreement, somehow we need to fund the CH1 drill. The SP will go far higher on anticipation of this drill than if we were to sell our share for say $25 million and then reinvest into another project. I can see an SP of 10p plus on the drill of CH1 which is not going to happen for years if we churn the funds into a new deal. If they confirmed we were funded for CH1 spud I would seriously consider pushing my stake up to 3% of the company.
Stop scaremongering mrc, why will it go boobies up, every prediction so far wrong from you.