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I cannot think what they will have to say.
They cannot divulge any price sensititive information.
Just to show off the new website and tell us the name has been changed.
Should finish about 11.01 then.
Yawn, give us something tangible. Nobody is rushing to ask questions about a bloody name change. Christ
“ The maximum this 25% is worth is $20 Million as the 50% stake sold by AEX was $40 Million.”
Why the maximum? Absolute rubbish. The $20m per 25% is purely a guide price based on AEX (30% Zubs owned) accepting an off by the Zubs.
Remember be realistic.
Yes always good to keep expectations low. I’m an optimist, still have faith that the bod will deliver.
Oilupdip Mid may 2018 was last time share was at 3p ; since then there has been a dilution of the share price by fund raises and Debt.
So stand by my words
Remember be realistic
Solo we’re sitting at 3p when this deal was first announced back in the day. I have a good feeling about getting a good deal.
The maximum this 25% is worth is $20 Million as the 50% stake sold by AEX was $40 Million.
The figure produced below is fairy land ; but the more SCIR invest to the next stage then that value increases.
With the fact that a 25 Year licence not approved makes it less likely that there will be multiple bidders for the 25%.
Wentworth Res could be one , only by the fact that the directors can still not buy shares in the company as information is withheld to the public.
Suspect a deal for 16% of the company shares leaving 9% in support for paying development fees to first spud.
Whichever does have a implied 40% discount on the current share price for SCIR
Remember be realistic
Tom Reynolds covered everything regarding the future direction of the company in his last interview. Surely it won’t just be a re-hash? Aex are due to update the market on proceedings. I have been reading how Oman is ploughing into natural gas both at home and abroad. Maybe ara will look at the nyuni license area in the shallow water. Could be some big volumes out there which might just warrant some export.
Ftse has already been hammered to be fair,I think the markets knew what would happen. Would be nice to see a big rns on a sale and we jump a few 100%
I can't see any reason for Scir or Aex to be effected, maybe the banks etc
Yes it might just be a bloodbath tomorrow, plenty of opportunity though, shame it’s all tied up in here and aex, although could prove wise ;)
GLA we will need it :o)
It won’t be the zubs paying that sort of money, possibly a major looking to get clean energy on their books
£60 million+ with a 5 to 10% free carry.
Maybe an Rns first thing tomorrow as a name change won’t take much talking about.
Mid cap status within two years please.
I think if we were to get a similar deal to aex but with more cash upfront then I think most would be happy, in this climate I can’t see it but we shall see.
I seriously hope they don't settle for such a low offer, that wouldn't even cover expenses to date.
To be honest, anything around 50 million would be massive for solo. I reckon they’ll take 10-15 with a partial stake left in the project say 8% ish
Sorry guys but I think a zero was missing of my calculator therefore:
SCIR 25% is worth approx $570m on current reserves.
Below are my estimates for a value of the gas in ground. Flow rates and annual income could also be used to show value, or a combination of both.
Hopefully my Sunday morn calcs are correct.
Currently 25% of 2 TCF GIIP and 756 BCF 2C with every appraisal drill increasing the resource/reserves.
The value at the wellhead is about $3.00 per million BTU, which for 1,000 BTU gas is the same as $3.00 per thousand cubic feet. One TCF would therefore be worth $3 billion at the wellhead.
SCIR 25% is worth approx $57m on current reserves. After CH-1 I would expect the value to double. After CH-2, CH-3, etc is anyone’s guest. Could be over $500m in the life of the project.
Any other valuations welcome!
Kinda gettin exciting for Mon 1100 hrs isn't it.......... :()
$50m for leg on top.......... ?
All the best (keep ya expectations low, and then you may be pleasantly surprised...... :()
OG there is a serious likelihood that if they get offered $30m for 25% the Board will bite their bloody arm off..... Will the PI's risk voting it down? I doubt it.
GLA
Apart from an update on the H1 IPO, all I want to hear is that they have had an offer for $30m+ for all of Ruvuma but they rejected it. IE some stake in ground so we know it’s true current value to potential buyers. If all we get tomorrow is purely future strategy (waffle words) then I’m afraid the SP will drift. Please BOD tell us how much you think Ruvuma is worth ( from negotiations with potential buyers) and as a bonus what it could potentially be worth after CH-1 results, CPR and 25 year license, if you plan to go down this route.
One concern is the awful PR from this board, no continuity a total lack of communication, the interview with Tom Reynolds was a year after the last one, quite disgraceful in these troubled times and harmful to the shareholders that they are supposedly working to restore value.
Surely they’ll have to give us something juicy, can’t imagine there will be many pressing questions around a simple name change. We already know the new direction of the company. We need to see results