Member Info for cperkin

Getting closer to the kill or fill.

Well steve, you can only blame the old BOD for that, in saying that the 5% for 2D interpretation was a great move by NR.

It's worth about what NR or rather shareholders paid for it at todays price (although half of which was in shares and not cash) question is where does it go next between now and drilling Mid may?

IPO price was set by all the then current shareholders as a private company, the current BOD had a minority say with only 13% back then, to suggest otherwise is hardly honest.

Guess the market has decided its undervalued, pointless talking logic on penny stocks imo, just look at 88E for an example, 3 dusters in a row, no producing assets and a mcap of £150 million.

Well this has taken longer than expected to start recovering from the almost 80% fall but it seems the breaks are off at last.

GLA

Well Mrc/d (Colin) did bang on repeatedly that SCIR should have sold when the HE1 share were around 7p, just as well Colin is not running the show here.

Seems the new President wants to get things moving.

https://www.thecitizen.co.tz/tanzania/news/business/tpdc-draws-strategies-on-lng-project-pace-3352552

25% of SCIRS market cap in HE1 shares is irrelevant?

Morning steve, at least you booked a nice profit, so well done :) I have a few grand that are now worth a lot more than a paid and will hold on to see where we are come spud in a few weeks.

Looking good AA, SCIRS shares in HE1 now worth around £2.2 million

Another tick up due.

Whilst we wait for the BOD, Ruvuma Licence due April, HE1 drilling May.

Thanks Chris, well I guess post licence extension might be the time we see Ruvuma action, only need another 0.8p on HE1 to make the 21 million shares SCIR own "breakeven"

Hi Chris, hope he is keeping well, anything interesting to share?

Hi Chris, hope he is keeping well, anything interesting to share?

The 21 million shares SCIR hold are worth £2million at todays price or almost 25% of todays cap.

https://www.youtube.com/watch?app=desktop&v=jqU0GhmCEhM&feature=youtu.be

Blimey long time no see Rose, the licence issues appear to be all resolved post contract and PSA review that closed out last year. An extension licence is due before the end of April, so I guess we should soon see.

Couldn't agree more Crusty. If you look through their potential asset purchases, the ROI is 5 years & if you compare this to the potential earnings in 5 years from Ntorya, it far outweighs the returns from their strategy, however like you say the risk profile is different.

There are some other interesting points in the brokers note.

1.0 3D to cover most of Kiliwani North licence
2.0 JV looking at options to reinstate production from KN-1 (never heard that before ;0))
3.0 EPS still planned (NT1,2 & CH1)

I think they are setting the bar at the $20 mill and setting the expectation to shareholders that this is the "expected" sale amount. It is about double the current market cap so upside if they do sell. Personally I would rather seem SCIR drill CH1, but that's why I have my AEX shares at least.

Based on SCIRS brokers note this week (0 upside just a straight NAV based on the FO here + their 21 million HE1 shares, very unusual for an AIM minnow, normally a brokers note is ramped to the max on AIM. ) they are looking for the $20 million and have no intention of being part of the CH1 drill. Probably a big mistake imo as their current asset purchase plans, although cash generative have a 5 year ROI.

Have to wait for it to play out Frank. Like I say bottom line is, if SCIR sell Ruvuma then it's probably $18 mill cash (post CTG) or almost double the current Sp + more if they sell HE1 as well.
If they don't sell Ruvuma then it's big drill time, 2TCF 763 BCF 2C appraisal and an additional 1TCF exploration target. I think AEX with a $35 million carry looks attractive, at least the market thinks so, unlike here.