Member Info for cperkin

Hi Frank. I expect they will take the 1 million options on any positive drill result, why buy them now unless you need the cash & need flip them?

It's all about the "spurious" tax bill issued under the last president and the $8 million owed to the JV for gas already sold. Till this is resolved, I expect no progress over the Killi licence area, despite the initial remediation plan being under a $million.

If the payment for gas already sold is resolved then SCIR will get their % equivalent of around $700,000 and remedial works by the Operator Aminex can then be initiated. Not holding my breath till we see some positive action and not just words from the Tanzanian Gov though, bit like the bod here you might say.

I am betting on a weekend Spud and an RNS Monday. I will be very surprised if there are no Helium shows in the Mud on the way down although it will be post appraisal before we are likely to understand the commerciality of any shows.

"West Newton continues to surpass expectations and we are confident that it will be the largest onshore UK discovery since Wytch Farm in the 1970s."
RNS Number : 4002B
Reabold Resources PLC
10 June 2021

"West Newton continues to surpass expectations and we are confident that it will be the largest onshore UK discovery since Wytch Farm in the 1970s."
RNS Number : 4002B
Reabold Resources PLC
10 June 2021

Helium-1 Spud and drilling to commence any day now. 1st drill targets 3 traps and any Helium shows in the mud will be reported during the drilling down to total depth. On completion to total depth wireline logging and sampling. 2 to 3 more drill targets then to drill over the next few months.

Ruvuma - Energy minister budget announced and approved in Parliament, including the CH1 drill. Extension licence (Licence to drill) expected June/July with 3D mobilisation soon after.

Regardless of the BOD's efforts ref strategy, it should be a busy few weeks and second half of the year here.

GL

Been a long wait!

Well with regards to Helium-1 it all depends on the drilling results. If they are bad then absolutely it will be of no use to SCIR, however at last count SCIR had cash from these shares of £2.06 million and a further 9,556,088 shares. If the results are good then it is possible that the remaining shares could be worth several million of pounds. Do you really think that is inconsequential to a company with a cap of £9 mill ?

With regards to an action group, start on this BB to see what interest you can or can not gain and be prepared to give up your own time to pursue.

Drilling soon, Best of luck

Spud due @ Helium-1. I hope the BOD have pulled back the full original investment as cash as a minimum and let the rest run like an investment free carry (top sliced) Shareholders payed for a stake in the drills. We will find out soon if the additional $4 million that NR wanted to invest back in 2017 was shrewd attempt to buy a larger stake or just a very high risk gamble.

I think the one Dyas failure will be seen as a blessing in 6 to 12 months time post COP26 The recent Dutch ruling against Shell says it all as does the 50% reduction in CO2 required by 2030, 8 years away. I expect many Western countries will be signing up to the cuts and I will be out of any western oil and gas stocks before November.

Question is with Tanzania seemingly in a rush now to fill gas demand not only at home but to other major African economies through both High voltage transmission lines (gas to power) and direct gas exports to Kenya and Uganda, will they make any similar commitments? Or as per the Odd-Helge Fjeldstad • Donald Mmari • Kendra Dupu report, go gas before it is too late and it remains in the ground, unexploited and thus never contributing to the countries development.

I am still unsure about the Pot of Tanzanian gold, but recent developments in Tanzania currently say otherwise and the pot is about to be developed and the Zubairs certainly seem convinced with their $120 million projected funding post farmout.

Follow the money is where I am at for now, that may well change of course.

Took my punt as discussed last night. The odds on the drill look good based on the COS and todays RNS. One thing is for sure, this share sure needs some good news after the last drill.

Best of luck all.

Agree with you both, one of the best bod and management teams on AIM on paper, one of the worst in terms of delivery and shareholder value so far.

Helium-1 and Ruvuma is my focus for now, enough to keep me interested till post CH1 drill in early 2022, anything the BOD deliver outside of that is a potential bonus in my eyes.

100% agree SVS and also I would not like to see any suspension of the share whilst Helium-1 is drilling and like you say deals depend on at least 2 parties agreeing, never guaranteed.

Helium-1 should be drilling next week or the week after at the latest and the news from Tanzania looks positive for the licence extension to be issued for Ruvuma and then we can see progress on the 3D and drill prep.

I will be surprised if Helium-1 do not report Helium in the mud and initial logs, it will not be till appraisal that this becomes meaningful in terms of commercial trapped reserves but the market will most probably react very positively on any shows imo.

Very much looking forward to the drilling, been a long wait for shareholders here, since March 2017 in fact.

Best of luck!

Morning AA, yes Now that the budget is approved in Parliament and the CH1 drill specifically mentioned as part of the 2021/2022 work programme, I see no other road block. Licence extension approval, 3D and drill should all get underway soon.

All now confirmed as approved including of course Ruvuma and the CH1 drill.

THE PARLIAMENT OF THE UNITED REPUBLIC OF TANZANIA HAS APPROVED THE 2021/2022 MINISTRY OF ENERGY MINISTRY BUDGET FOR THE YEAR 2.386 TRILLION WHERE 98.9 PERCENT OF ALL BUDGETS ARE FOR DEVELOPMENT PROJECTS.

https://twitter.com/Nishati2017/status/1400692900745338880

All confirmed as approved, including Ruvuma and the CH1 drill

THE PARLIAMENT OF THE UNITED REPUBLIC OF TANZANIA HAS APPROVED THE 2021/2022 MINISTRY OF ENERGY MINISTRY BUDGET FOR THE YEAR 2.386 TRILLION WHERE 98.9 PERCENT OF ALL BUDGETS ARE FOR DEVELOPMENT PROJECTS.
Quote Tweet
https://twitter.com/Nishati2017/status/1400692900745338880

MAGIC!

https://www.bloomberg.com/news/articles/2021-06-03/tanzania-aims-for-lng-project-construction-to-begin-mid-2023

Now the budget and work programme for 2021/2 has been presented by the minister of Energy in parliament and it specifically mentions Ruvuma and the CH1 drill, we might see that extension licence sometime soon and then they can get on with the 3D and drill prep.

The Energy minister present the 2021/2022 work programme and budget for Tanzania and the specific mention of Ruvuma and the CH-1 drill.

Might see that licence now the budget is presented and approved.