Member Info for blackgold00

Unbiased, where can we get that from

I would, the more you understand, the more you have of protecting your holding

I think i have heard enough of you, I should have sold.

Shouldvesold, so you have not a clue why SCIR has any issues with the Tanzanian tax revenue authority, yes right ok, we'll all take notice of you then. Lol

Shouldvesold, yes, people ought to heed that

This is what you posted, lol, "I am running with the assumption"

that if the sale doesn't complete or ARA backs out, that some kind of financial penalty, similar to the One Dyas deal would be due to Scirocco."

Are you for real, Shouldvesold ?

What ?

I really don't know, but I am really surprised that they haven't kept the market informed up to date.

The other thing is, SCIR did agree to the 2022-2023 work programme, so by all accounts they should have positioned themselves to be able to fund it. ?

I don't know, they haven't said, but we do know that it must include 25% of all the 3D seismic work programme and anything else from the beginning of 2022 and up until now so I'm only guessing 4, 5, 6 million dollars ??

Well yes, as i understand it, if the deal doesn't complete, then the cash-calls become payable

So scir 25% of all the seismic and anything else

"In addition, APT would provide Scirocco with a loan of up to ceiling $6,250,000 to meet all cash calls pursuant to the Ruvuma JOA arising between 1 January 2022 and the expected completion date - thereby removing the risk of default and possible relinquishment of Scirocco's interest in the project. During the period between signature of the sale agreements and completion the loan accrues as cash calls are paid by APT on Scirocco's behalf. The consideration payable at completion is also increased by the cash calls incurred. At completion the accrued loan will be offset against the increased consideration balance, cancelling out the loan. In March 2023, Scirocco and APT agreed to increase the contractional longstop date to 31 August 2023 from 30 June 2023."

From AR

"In addition, APT would provide Scirocco with a loan of up to ceiling $6,250,000 to meet all cash calls pursuant to the Ruvuma JOA arising between 1 January 2022 and the expected completion date - thereby removing the risk of default and possible relinquishment of Scirocco's interest in the project. "

"I am running with the assumption that if the sale doesn't complete or ARA backs out, that some kind of financial penalty, similar to the One Dyas deal would be due to Scirocco."

Well, I'm running with the assumption that if the deal doesn't complete then all the cash-calls that SCIR are liable for becomes immediately payable??

"On 25 November 2022, at the Tanzania Petroleum Development Corporation ("TPDC") headquarters in Dar es Salaam, the parties to the Ruvuma PSA signed an addendum to the PSA ("PSA Addendum"). The Ruvuma PSA, as with all other PSAs in Tanzania, contained profit share, royalty, and taxation rates only for oil production. The PSA Addendum sets out the relevant terms for gas production. "

OK, fine RoJo

Because I was under the impression you hadn't bought more cheaper to average down, but now it seems you have been,  so when was the last time you averaged down and at what avarege price is your holding at now. ?

This is interesting RoJo, so when was the last time you averaged down and at what avarege price is your holding at now. ?

I don't think you have RJ, ah so you have averaged down then, tell me then are you in profit yet.