Member Info for cperkin

What about a (& dare I say it) a "Carry to production" for half Colin?

Still very unclear matherdj, it could be anywhere from 2023 onwards, but based on past performance you are probably closer. The LNG HGA is due soon, also another key indicator for the Gov/IOG atmosphere going forward.

matherdj, I think the key here is the export gas pipeline to Kenya and Uganda to unlock the 6 to 8 well potential of Ruvuma. Will SCIR still hold any % by that stage though?

They should be AA & legally they have a right to a years extension. IMO any potential deal will either be conditional on the April extension or will most likely wait till post. The last extension was mired in the Gov contract review followed by the PSA review so in theory you are right, straight forward. I think the market might wait and see though to confirm the Gov's current intentions.

Regardless of our disparate points of view, the one thing we all agree on is the asset value & most, that the BOD have thus far been a major disappointment and have failed to deliver on their own stated plan thus far and presided over a significant reduction in shareholder value. On balance I don't blame them at all for the delays created by the Tanzanian Government which have been substantial and very impactful in the SP decline.
My issue is that I don't see any progress on any potential sale till the next licence extension is granted, the last one took a very long time, the next will be an indicator of the Governments position and interest in progressing Ruvuma.

Enjoy the WE

WORLD BANK: Tanzania's Economy would grow by 5.5 percent in 2021 against last year's projection of 2.5 percent.

The World Bank says Tanzania's growth is the fastest in Sub-Saharan Africa above the region's average growth of 2.7 percent.

https://twitter.com/TanzaniaUpdates/status/1347896387132915712

Happy New Year to you Mousey and may 21 bring you Health and good fortune. More than happy to see any offers on the table to review here as long as Sarah opens he purse wide enough ;0)

Thx BD, message clear and understood.

Come back Monday/Tuesday to have a look and see if there is an RNS or not.

Enjoy the weekend.

Glad you agree that I said nothing about a free carry holy, I fully accept your apology.

The 2d and 3 drills are paid for was my point and I am glad you also agree with this Holy. I also agree that the OLD bod overpaid for their initial stake in Helium-1 and in fact the OLD bod wanted to spend a further £4 million on the same terms on the asset but shareholders here stopped them.

The point is and as I posted, the Helium-1 work programme of 2D and 3 Drills as per the budgeted terms in the IPO are paid for and shareholders here have paid for their share through asset dilution.

You can add "IF" statements to muddy the waters all day long, "IF" the drill breaks "IF" they hit 100 BCF on the first drill the others are not required etc etc. The point is the planned work programme is paid for already, that was simply my point.

Holy I did not say free carry and this is a bb not a legal document ffs

maybe you prefer these words

SCIR's % of Helium-1 is already FULLY FUNDED FOR THE 2D and 3 DRILLS as outlined in the IPO documentation.

Do you disagree Holy?

See you tomorrow.

About says it all.

Have a lovely evening.

& Holy you were right about the % I apologise, it is 4.28% + 1million options @ 2.84p the IPO was over subscribed.

No Holly that's not correct. I said very specifically carried for cost of the 2D and 3 drills as per the RNS, I said nothing about carried to production. You are just chucking out unfounded accusations again and then fail to apologise I suppose after.

So I will ask you one last time, you are saying SCIR are not fully carried for the 2D and 3 drills as per the IPO?

Maybe Colin, of course the market will decide how much HE-1 is worth in the run up to drilling in Q2 & that's drilling shareholders here have paid for. I would not be in a rush to sell if I did not need the money right now and with no news on the primary asset and thus no spend why panic.

We will soon see if they are as they would need to TR-1

It's not misleading at all holy, SCIR sold a large % of their stake to pay for that 2D & drilling and to IPO. That's shareholders here who have already paid for that 2 D and 3 Drills through that effective dilution. Are you suggesting that HE-1 are not fully funded for the 2D and 3 drills Holly and thus SCIR's 4.5% is not also carried for that drilling?

You can't call it till if & when they sell it mrc/d. Could come in very handy if no decent offer for Ruvuma on the table my mid year as SCIR might as well hold till the Ch1 drill.

Anyway heading is pants, there ain't one.

Holy I was talking abut SCIR being effectively carried for the 2D and 3 drills over the Helium-1 asset?

Sorry site /network playing up and message keeps appearing and disappearing?

Jonny that's not what they said at all, they said sell the non core assets and you are missing the point with helium-1 yes it is worth £1.3 million less based on the current SP and SCIRs holding but SCIR are now in effect carried for the 2D + 3 drills, so you need to add that cap ex back into the value as it is finally being spent on development, unless you would have preferred a placing of course, which is what got the old bod kicked out?

Unless of course you would have pre