Member Info for blackgold00

Hmm, now everyone will tell me off for engaging with you and so they should, Ro, go over to ADVFN and join Skin you'll feel so much more at home there with like minded people like him, I think you two are like pea out of a pod. Lol 😂

What I Don't understand Ro, is that you're still here aftet all these years whinging, and if you haven't downsized ie reinvested in the improved story, is nothing short of craziness

You didn't get caught out on the Likonde-1 well, by any chance Ro. Yes you could have lost a packet if you weren't careful Ro.

"I invested in Aminex many years ago with high hopes. "

How long ago was that then RoJo, 10 years ? and you haven't downsized in all this time even though the geological and political story has improved so much. ?

13 June 2022

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Ruvuma Divestment and announcement of General Meeting

"Scirocco signs binding agreement to divest 25% interest in Ruvuma to Wentworth Resources for a total consideration of up to US$16 million"

Yes, I saw that, I guess it would had been logged June of last year when Wentworth first made the offer?

"BG …” SCIR transaction all in the coming months.” Well"

I think what I'm trying to say AImster, i believe that the long-stop will not be extended again, and if there is a dispute over CGT with SCIR and the Tanzanian authorities as there was with AEX, then it will be up to SCIR to pay that tax and it would be payable before the transaction could complete. Of course if they don't or can't then the transaction is unable to complete and they SCIR would automatically be in default of their obligations to pay their cash-calls and would forfeit their 25% share of Ruvuma PSA with it going pro-rata to ARA and AEX. Meaning AEA would be getting SCIR 25% for nothing especially as they have alreadypaidall SCIR cash-calls up until now?

Looks like somebody was desperate and ended up getting mugged

I asked Mr Google, what a tcf of gas was worth at the wellhead, and he threw this at me. Hmm it is a crazy amount of money. Lol

https://www.quora.com/How-much-is-a-1-trillion-cubic-feet-of-natural-gas-worth

"It depends on a number of factors, including quality, location, contract delivery terms, etc."

"In the U.S., 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 trillion cubic feet would therefore be worth $3 billion at the wellhead (i.e., to the producer), which is kind of nonsensical because it will take a while to deliver that quantity."

Lol 😂

Lol, some do exhibit very strange behaviour. Yes well I've been here a wee bit longer than that, just been following the geological story unfolding, and adding to my holding as the confidence was building, yes it seems now we're not just sitting on one elephant but a flipping herd of them lol 😂

Somebody picked up a few cheapies, and back to blue. : )

Yes, also with the new license extension and work stream and the conclusion to the SCIR transaction all in the coming month, will be the firing gun.

Oh yes, lots going on behind the scenes, it will be interesting to see what commitment, will accompany the new license extension, regards commitment of the ladt extension, ARA have completed the 3D and the negotiations for the gas terms, plus they have selected the new CH-1 site which is now awaiting government approval. So by all accounts ARA have done as much as they can to honour those work commitment.

"Acquisition of 200 square kilometres (surface coverage) of 3D seismic data

· Drilling of the Chikumbi-1 well

·" Conclusion of negotiations of the Gas Terms for the Ruvuma PSA."

("including tubulars, required for the spudding of the CH-1 well.")

What Is Spud?

"Spudding is the process of beginning to drill a well in the oil and gas industry. A larger drill bit is initially used to clear a surface hole, which is then lined with casing and cement to protect groundwater. After the surface hole is completed, the main drill bit—which performs the task of drilling to the total depth—is inserted and this process can also be referred to as "spudding in."

https://www.investopedia.com/terms/s/spud.asp#:~:text=Spudding%20is%20the%20process%20of,and%20cement%20to%20protect%20groundwater.

Last Op update

 "Following analysis of the results of the initial 3D seismic processing and interpretation, the JV partners have chosen a new optimal target location of the Chikumbi-1 well ("CH-1"). The Tanzanian authorities have given provisional approval of the new CH-1 well pad location and final written approval is expected imminently."

Note, this is the first shipment

"· APT recently received the first shipment of long lead items, including tubulars, required for the spudding of the CH-1 well."

Yes, I don't think it'll be much longer now, before the jigsaw falls into place, and believe the SCIR transaction should be resolved by the long-stop date ie the next 5-6 weeks and that could possibly be by them defaulting ? I say 5 to 6 week or the end of August, but as the Ruvuma PSA extension is due 15th August maybe they Gov official's involved would like it all sewn up by then, so that the legal joint holders of the new extended Ruvuma PSA are known for signatories.

Yes of course you're absolutely right, I will try to refrain from doing so next time. : )

Sorry RoJo that was for you