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What sort of names do you have in your fantasy frame Areola?
Yes Chris, maybe a couple of those old North sea dogs would like a deal with the Zubes?
They could help them with the debt pile.
Can you name a few please Chris?
You sounding a bit like Trrime there.
Plenty I think, they bring reliable funding, expertise and buying power to the equation. They also treated AEX very well by bailing them out with loans whilst they waited for the Tanz Gov to sort themselves out.
I would say that it is the Zubairs that make the asset more attractive than if AEX or some other small partner was operator.
I think Dan is saying that NR & Dan were apparently in cuckoo land? :0)
I don't think the Zubairs will be looking for another portion of Ruvuma, although happy to be proved wrong as they could have got is cheaper at the same time as the AEX deal, value has been added since as it has become de-risked and resources increased.
There are other cash rich companies in O&G in Tanzania who may be interested in a large and cheap onshore gas development that appears to be the next major gas project in Tanzania along with the LNG.
But there again, the BOD have been clear they will fund it to production if required, the EPS pays back in less than 12 months of production after all.
Hi strean your proposal is a fantasy I think. Obviously great for SCIR but I can’t see why the other party would do us the favour. They have what they need which is a grip on this project and a weak party they can outspend and force a relinquishment.
highlandmatt might be interesting either way but right now no one believes and the money is not coming into the stock its going out so wrong way really on a certain deal in November "all fun and games to be had" !!!
Won’t happen 99.9% sure of that Crusty, they want out but at what cost and that’s even if anymore wants to buy it judging by the trades today their no interest however we not in November when most think it may happen, I guess their is fine margins between ramp down and ramp up and what prospective angle you are looking in at, I want a sale or SP could come under pressure because of funding woes but sometime in 2022, right now it all about the deal GLA :o)
I'm an advocate of retaining an ongoing interest. Even $16m for 20%, retaining 5%. Or more cash for all, but with a royalty payment in perpetuity (2% of revenues?)
I think most shareholders would prefer that Crusty?
Would Scir shareholders accept a similar deal to AEX's? A reduced stake but with some cash and "full carry"?
The problem here is not the resource. It’s getting it out of the ground and to paying customers.
Removing those risks will raise the SP, but this is Africa gents.
Last week we took a substantial haircut on monies owed. It’s not good.
Well Dan, best thing to do is look at the history, NT-1 was a low cos drill but came in with a high flow rate drill, NT-2 had a COS of around 65 to 70% as an appraisal well and delivered a 10X increase in resources along with a 700% increase in the SP.
Seems to me you are just misleading investors again and trying to manipulate the market, bad enough if you were a just a PI. I think I will put your comments today here along with;
Sell HE-1 @7p
Ruvuma is worth $0
And now a 3 bag on the appraisal drill is unlikely.
Chris
If the CoS is “extremely high” then why would success make the asset worth 3X -4X?
Seems you are over egging the impact of this drill.
If there is no risk then there is minimal reward.
You are misleading people.
Chris
If the CoS is “extremely high” then why would success make the asset worth 3X -4X?
Seems you are over egging the impact of this drill.
If there is no risk then there is minimal reward.
You are misleading people.
I think there is so many permutations here ever dilution of some kind if they go onto the drill but it won’t be until into 2022 so there is a window of opportunity to get the asset sold if this is indeed what the board now wants, I believe they won’t sell it for anything less than $20 million so will walk away from any lower offers because of the fees involved but hoping for $25 million but it will cost us both assets so someone will get a massive bargain here as we find out when they drill for sure, it all a risk in small caps so you take your chances I guess and hope it comes out in the wash eventually :o)
Chris, I would say if anything you are being conservative with your predictions, not misleading in any respect.
I disagree it is not misleading at all, and a bit of a joke coming from you Dan who posted here that Ruvuma was worth $0 just 2 weeks ago, get real (extremely misleading)
In fact the probability of the drill coming in positive is extremely high as you well know, at least for the Appraisal portion of the drill as this is the 3rd well on the licence area and it will be drilled post 3D
So I stick with my 100% now to up to 300% or more on the drill.
Chris
That is a very silly and misleading post.
I will give you the first outcome as a possible scenario.
However the second outcome is problematic:
1. The work programme is to reduce risk. What if this goes the wrong way?
2. You are ignoring the dilution needed up to point of disposal. It could be that the MC rises and the SP falls (as we have experienced here already).
I think that's the short term bet Dan as you posted the other week, if they sell for around the last market value then we see around a doubling of the share price. If not sold by the drill, then as others have pointed out you could be looking at X3 or X4 return from these prices.
So the bet right now is short term 100% or this time next year X3 or more return.
Worth a bet imo.
Yes Frank, Chris, that is the bet. Sale or no sale.
if they sell their asset and have lots of cash whilst purchasing asset no 2 and other AD the SP won`t be anyway near 1p and you know it Colin/Dan so speculation like you doing is rubbish as same as I`m saying here as I simply don`t know, but it more likely outcome my prediction than yours but lets see !!!