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Anyone think SCIR will need to pay capital gains on this transaction like AEX did when they secured the farm out? I believe SCIR will be making a net loss on this deal but would be another hit on the transaction value if this needs to be paid as well.
All this talk of 10p 30p 50p is all well and good but the sp cant break and hold 1p at the moment which in itself tells its own story that the market does not currently care about what we might have in the ground. Market will only take notice when we start production and the price we get for it. Then a value can be attributed to what we have.
https://www.thephoenix.ie/article/aminex-shares-could-be-boosted-by-overdue-november-drill/
Behind a paywall though
Thanks Crusty for the summary, much appreciated.
Crusty is right, as an example, why do some oil fields need water injection....? because the reservoir pressure is low and the amount Barrels per day produced is low. By increasing the pressure in the reservoir will increase the rate of production regardless of how much oil/gas is there.
For us the different lobes may contain different pressures and so we may see different production rates because of that. We will have to see
NT-2 was compromised due to a mud being required to control the pressure during the drilling. Hopefully using a modern drill rig will ensure that does not need to happen on the next drill. The last rig would have had its time better spent in retirement in my view.
111,658,942 shares traded on day of placing announcement, there was a decent amount of shares sold that day
in total 519,431,879 shares have been traded since April 1st. Even at a rough estimate of 50% of trades are sells + the 89m that Eclipse took and likely hold.
Approx., 344m shares have been churned out of the placing so maybe another 100m to go before overhang is cleared.
Can now clearly see where they have been making progress on the 3D seismic. Can see these temporary roads south of the CH-1 well being formed in a grid format.
https://apps.sentinel-hub.com/sentinel-playground/?source=S2&lat=-10.502559866252133&lng=39.99547004699707&zoom=15&preset=1-NATURAL-COLOR&layers=B01,B02,B03&maxcc=100&gain=0.9&gamma=1.1&time=2021-10-01%7C2022-04-17&atmFilter=&showDates=false
not risk free I agree but we do now have a vastly experienced partner who will I hope using a modern rig and not something from the dark ages. NT2 was compromised by high pressure and mud being used to contain it which eventually resulted in lower production rates.
They could have raised when the sp was at 0.4 but that may have been viewed as too damaging long term. They don't want to completely destroy investor confidence which would impact them as well.
There could be a plan to use the excess money from the farm out (drill and seismic so far is cheaper than expected) to buy SCIR share. But what do I know. I still would not want the BOD wasting their time on KN-1 as the risk reward is not great at the moment. Unless Aminex can Tap ARA know how into getting the issue resolved.