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On another point, MRC must be the most annoying poster in the history of Solo/Scirocco but CPerkin you are almost getting to the stage of being equally annoying for over the last 3 years for trying to make a silk purse out of a sow's ear.

HE1 shares worth a £1m !!! Whoopee !!!
Means Sweet FA. The ONLY thing I’m interested in is the SP, which is sh@t!
This share reminds me of a tv program called “Sale of the Century” why? Because it seems to be taking a f@cking century to sell Ruvuma. FFS.

The land his house is on doesn’t have TCFs of Natural Gas under it. Karma is going to get you.

$24m cash is not enough to buy & develop 25% of Ruvuma. They will need a partner with cash which is probably why things are taking so long to reach any agreement. Partner anyone?

I got the impression that a deal maybe just around the corner. If terms can’t be agreed soon with the interested parties, it will never happen.

Could be the Gneiss cleaners consortium for all we know until they give us more info. Stringing us along as usual.

If we get an RNS tomorrow stating a Ruvuma sale has been agreed. How long will it take to complete the transaction? 3 months? 6 months? A year?
If $25m is agreed now. In 6 months it could be worth say $35m and in a years time day $50m, so IMO a sale seems very unlikely due to the amount of time it takes to complete a deal in Tanzania

CPerkin
Just for clarification hasn’t the £25k per month from the AD deal been identified for re-investment,rather than income. Ie they’ll never see it.

How long has the data room been open for a Ruvuma sale? 2-3 years? And not a whisper of anyone who’s interested. First it was the farmout, then it was the 2 year license extension that made it easier to sell, now it’s the seismic start date and 2022 work program. How much longer are the BOD going to string us along? MRC please do not reply!

IMO If a Buyer for the Tanzania assets is announced in November, the sale will not get approved until after the CH-1 drill in-line with Tanzania government approval timeframes. Then the BOD will want more money because of the increased resources. So a sale may never happen, like the One Dyas deal. Ie. BoD stating that they want fair value for their shareholders.

The biggest waste of life is arguing with an idiot.

IMO I would expect an RNS stating a FULL sale of Ruvuma in the next month for around $30m. Tanz sales tax is around $1m and if Gneiss costs are more than $1m I’ll be p@ssed off. In 2022 I would expect around half a dozen acquisitions which would be like printing money for Gneiss, so I don’t see them being to greedy with charges for the Ruvuma sale, else face the wrath of the shareholders.

10% would be the Tartan army taking the p@ss especially with Tom & Doug on Scirocco’s management payroll.

However p@seed off anyone is regarding Gneiss, a Ruvuma sale seems to be just around the corner, which will double the SP plus. So anyone selling now will be kicking themselves in the non to distant future.

… with no plan B in place. From revised seismics Tai was top priority so what do they do now? Hopefully they will bring Neil Ritson ( excellent geologist, crap CEO) back into the picture, probably through Helium Ventures. The recently employed HE1 geologist (forget her name) looks fresh out of college.

If I remember correctly Sibajak had 24M a couple of years ago!!!

Expecting an RNS later repeating the HE1 RNS. There could also be a further reduction of ownership of the remaining 5 million shares, possibly sold in the high 20’s.

The other and most important thing ARA would be considering, apart from commercial terms, is where are my customers coming from? What’s the point of having TCFs of gas without any near term customers.
Hopefully negotiations are still ongoing with regards to exporting gas and perhaps heating the oil pipeline via power stations plus cement factory. Wentworth seems to have domestic demand covered.

I don’t think a sale to Wentworth is on the cards. AEX stated at the AGM that they are in discussions with an operator in Tanzania with regards to a JV exploration on Nyami.

Are they having second thoughts on their new strategy? The market wasn’t excited about their new direction. EQTs SP isn’t doing very well these days and also haven’t heard from big double recently. At least Gneiss will not be out of pocket. The only reason I’m still holding is FOMO of on a surprise Ruvuma sale. I would also be surprised if the SP goes above 3p with the CH-1 drill due to sentiment here and also a strong possibility of a placing on the run up to the drill. I’m hanging on by a thread here now.