Member Info for cperkin

08:08:18 1.25 740 9.25 O
08:08:18 1.25 340 4.25 O
08:08:18 1.25 6,600 82.50 O
08:08:18 1.25 551 6.89 O
08:08:18 1.25 451 5.64 O
08:08:18 1.25 145 1.81 O
08:08:18 1.25 1,200 15.00 O
08:08:18 1.25 2,100 26.25 O
08:00:33 1.255 242 3.04 O

Good luck grsshaw!

My take is different, they have cash + HE1 shares to dispose of. You can work out pretty well exactly how many they need to sell on top of the reported cash at the time. Still like you say if HE1 had not already panned out so well they sensibly had the back up of the $5 million facility, so bases covered.

Personally, I am looking forward to the Helium drilling June and the first stacked targets they have identified post the 2D infill.

They said that they have the cash and near term equivalents to satisfy the 2021 budget of $5.8 million and G&A is expected to be £0.5 million for 2021 as per their own statement. Additionally they have the remaining balance of the $5 million loan facility, which is most of it.

SCIR have cash in the bank to cover the 2021 work programme, 3D over Ruvuma + drill prep. As it stands next year in 2022 they will need around £3 million as the remaining contribution to the CH1 drill.

Who knows HE1 might just provide all of that?

We don't know how it will end Colin, not till they have completed the 3 to 4 exploration wells. As far as I am aware they do not intend or need to fully sell up, shareholders here have paid for the 2D and drills and it's only appropriate to de-risk and leave a remainder on the drills. If SCIR had maintained their % all the risk would be on the drills along with 13 odd % of the £16 million they have raised since float so a cost of around 2.2 million. This way they bank the original investment + some profit and leave the rest on the drilling (or part there of)

Fully agree ref Gneiss consultation fees, for me I want to see the Ruvuma drill, the appraisal of the gas asset and the additional up dip deeper Jurassic. It's why I invested here.

Wonder if they have let a load more go around the 23 to 24p mark?

Good business if they have, bagger territory.

Blocks of bot trades with sells of a few £ to walk it down

04-May-21 16:29:11 1.25 460 Sell* 1.25 1.35 5.75 O
04-May-21 16:29:11 1.25 480 Sell* 1.25 1.35 6.00 O
04-May-21 16:29:11 1.25 2,500 Sell* 1.25 1.35 31.25 O
04-May-21 16:29:11 1.25 6,000 Sell* 1.25 1.35 75.00 O

4-May-21 14:25:58 1.30 100 Sell* 1.30 1.40 1.30 O
04-May-21 14:25:58 1.30 130 Sell* 1.30 1.40 1.69 O
04-May-21 14:25:58 1.30 525 Sell* 1.30 1.40 6.83 O
04-May-21 14:25:58 1.30 500 Sell* 1.30 1.40 6.50 O
04-May-21 14:25:58 1.30 1,923 Sell* 1.30 1.40 25.00 O

Kenya and Tanzania have signed a deal to construct a gas pipeline between the port cities of Mombasa in Kenya and Dar es Salaam in Tanzania.

Brilliant news for Ruvuma!

Kenya and Tanzania have signed a deal to construct a gas pipeline between the port cities of Mombasa in Kenya and Dar es Salaam in Tanzania.

ASK is 24p, any shares sold at that level = 100% profit on the £2.5 mill spent in the first place, a bagger no less.

All down to the drills starting now in early June, it could build even higher between now and spud of course.

GL

HE1 flying again, +9% 22.5p on the ask.

Yum!

Depends what you mean by the "work programme" If you re referring to the 2021 budget for Ruvuma, then as per RNS they can cover their 2021 commitments. If you are referring to the yet to be agreed & confirmed 2022 budget, then much depends on the outcome at Helium1 and the level of profit realised along with the remining available balance of the Loan agreement and or sale of Ruvuma.

Well I think its fair to point out you were shouting sell HE1 @ 7p on this BB Colin and that the Bod were fools not to and then they go and sell for well over double the value you suggested. You just got to suck that one up Colin.

Great they have cash profits ready to fund the next stage at Ruvuma. 2 drills that already flow at commercial rates and the 3rd drill now just months away with dual appraisal and exploration geological targets. The last drill increased 2C resources 10 fold.
May drilling HE1, 3D Ruvuma H2 followed by the CH1 drill is the current plan.

West and up-dip!

I think its in their interest and shareholders not to disclose their position post 3% whilst it's been "worked"

|For me the best result is to pull back the full £2.55 million as cash as a minimum and let some portion* + the 1 million options ride on the drills we all paid for. That way they get back at least what was invested + a % return* and have exposure to the drills.

Seems the little panic over SCIR is over and any selling was easily absorbed with 20p broken.

Good luck and enjoy the BH W/E

Maybe John but as pointed out we don't know what they have sold between the 27th and today the 30th beyond the TR1. Either way they have sold for a hefty profit and the responsible thing to do imo. They have to fund the 3D and the CH1 drill prep in H2. Most importantly this is for an asset that is already discovered, appraised and has 2 wells plugged ready to produce at commercial rates post workovers V exploration drilling. As for HE1 it seems more than resilient enough and has recovered well, they kept an orderly market as required.

I think they have been prudent, I am just not sure how prudent post 3% reporting but a good job and a thumbs up imo

Oh well better luck managing your investment portfolio next time Burning, enjoy the weekend!

Highs and lows of Aim, over 70% up yesterday at one point and -20% today, been a cracking week though & it's nice to know there is cash in the kitty even if we don't know exactly how much profit they have taken.

Enjoy the BH W/E

I don't remember any RNS every time they sold some HH shares, why would this be any different?