Member Info for blackgold00

Yes, fingers crossed oh and the toes. Lol

As for the deal, lol, well that depends on your position of strength at the time, doesn't it ?

No obviously not free, but it has been all bought and paid for, out of the wisdom knowledge perseverance and luck of the old AEX board that discovered and went on to show/demonstrate the vast potential/value of the Ntorya discovery.

Yes, I'm just wondering what the hold up is with the Ruvuma transaction? If we look back at the AEX/ARA farm-out, Aminex had to pay $2.2 million capital gains tax and that was several months before completion. So the questionis is, do SCIR have available funds if capital gains tax is incurred ??

As I'm understanding the cash-call loan facility, is that, SCIR doesn't directly receive the cash call money's itself, but that ARA pays SCIR share on its behalf. So I still wonder how they could get loan/funds from ARA for general purposes and investments?? Yes all a bit strange

Last year interims

"Following the end of the period the Company has also received initial loan funds from APT which are available for investment and general corporate purposes"

"(the loan accrues as cash calls are paid by APT on Scirocco's behalf.)"

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. 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."

Ah sorry that was from last years interim results, and this from this year's re the loan facility to cover Cash Calls, what I'm trying to establish is there two different loan facility's one to cover the cash calls and one for general purposes and investments ?

"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 - "

So does anyone know how much loan funds SCIR has received from ARA?

This from their last H/Y results

"Following the end of the period the Company has also received initial loan funds from APT which are available for investment and general corporate purposes"

"Just another point, I assume the 140MMcfd is a limitation of the pipeline diameter"

No Aimster, not the pipeline but the processing plant it has a capacity at the moment of 210 mmcfd, M&P/Wentworth process through the plant about 80 mmcfd

Yes one to keep an eye on, as we move closer to the new recently extended longstop date 31st August.

"- It is NOT perceived that the position of the SCIR transaction has any impact on proceedings whatsoever and if that deal were not to complete for any reason SCIR would already be in "default" and obliged to give up their 25% in any event"

Well that would be interesting Crusty, pro rata between the other licence holders, then ARA would be entitled to 16.66% and AEX 8.33%. I wonder what Aminex would think of that, especially as there would be no purchase costs involved and the Ntorya revenue has been brought forward by a year ?

Five ticks, lol, they say you can count your friends on one hand, what ever you class as a friend now days

Lol

Yes, perfect gaslady, he will make himself be sick you know. Lol

I'll see if I can think of one for you

You're going to need one soon lol

Hey RoJo, have have you got your new avatar yet

Nothing from the prosci today, they know they're game is up. lol

From March RNS, so maybe they are starting to get

some of this equipment On site?

"APT has held significant discussions with potential contractors for the construction of field processing/gathering facilities."

Plus, I keep looking for the new CH-1 site, that needs to be prepared before CH-1 is drilled, I'm just assuming the NT-2 tests have already been completed. As to what might be on the NT-1 site, there is alot of equipment pipework etc needed for the first stage development of Ntorya, NT-1 / NT-2 and CH-1 wells.

"I neither ramp nor bash - I simply post what I believe to be the current situation."

And what might that be then RoJo?

Can't wait. Lol