Member Info for cperkin

Darn and here I was thinking it was about money coming in above the current mcap through a deal on Ruvuma, an IPO with fully funded drilling of 3 wells and 2D and the liquidity of the 21,297,388 shares + another million options in Helium-1?

A merged company that also held SCIR's 25% would put them on an = footing to the Zubairs for the Ruvuma PSA, 50% a piece (ignoring the ZUB 30% interest in AEX)

Probably as likely vike1. Wonder what terms the Zubairs would want and how much of the enlarged & merged company would they wish to hold?

WEN would probably be better of lifting SCIR's 25% of Ruvuma?

Starting with the EGM tomorrow and the Go/No go for Helium-1 IPO and the then the listing on the 4th December.

SCIR are after all the largest single shareholder.

There in lays the issue AA, no acquisition till Ruvuma sold is my take on it.

@trrime, yes SCIRS Helium-1 holding is only valued @ £600,000 today, it could be worth considerably more post IPO next week and more post drill in Q-1/2 and provides potential liquidity for SCIR as the single largest holder with 21,297,388 shares + another million options @ 2.84p
Have to see how the SP performs post IPO, would be nice to get back at least the £2.5 million.

Morning Chris, not sure that anything will move on Ruvuma till post next licence extension in Q1 21. In the meantime SCIR will be have liquidity with Helium-1 post IPO next week which could come in handy depending on how the float performs.

oJoR?

Hi Harry, hope all is well with you.

I am reminded of the NT-2 gas appraisal @ AEX that resulted in a 10 times increase in resources over the discovery well NT-1. Not saying that the same will happen here, but with a sidetrack into the right place, a significant increase in resources is possible.

Don't talk with your mouth full Burning ;0)

Nothing, the SP displayed is based on the UT trade of 65 shares at 1.47p at 16:35 yesterday v the actual price of 1.225

Smoke and mirrors

The secondary target had a COS of around 26% so not great surprise at the result, the primary appraisal target has a COS of around 90% Appraisal wells often prove up higher reserves than the initial discovery and that is what is being drilled right now.

GL

Back to 0.15 before results, drills drilling.

AOGL shareholders vote tomorrow on the RTO/IPO

"The Company is therefore seeking Shareholders' approval of the Amalgamation and the Cancellation at the EGM which has been convened for 25 November 2020 at 11.00 a.m. at the offices of Hill Dickinson, The Broadgate Tower, 20 Primrose Street, London EC2A 2EW."

If the Resolutions are passed at the EGM, it is anticipated that the Amalgamation will become effective on 3 December 2020. and the Cancellation will become effective on 4 December 2020 at 7.00 a.m. It is expected that Admission of the Helium One Global Shares to trading on AIM will become effective on 4 December 2020

Must have been before the Zubairs loaned all the money up front to AEX whilst waiting for years for the Gov to sign the FO?

Surely if they wanted to, the could start the 3D over the current C1 well pad and surrounding 100km and then drill, rather than wait till 2022?

Maybe they will once the SCIR 25% of the asset is resolved.

I don't disagree Thordon although I don't think I ever said WEN was boring only "WEN will anything happen", such a drill. Its a small cap listed on AIM and they thrive on news to provide a story and the trading volatility that punters like. I completely agree that divs are good & I choose to take mine from main market and mainly Medical and Tech as part of my balanced portfolio.

I would invest in WEN in an instant if they had some material news and exploration on the near term Horizon, they would have everything, income, cash, growth assets, a divi and near term SP excitement.

I will keep looking in to see if it gets interesting and wish you luck.

Been a lot of UT propping up the SP since G.P. (Jersey) Limited took up 9% of the company. No idea if it would be related at all of course.

Well lest hope WEN are not getting involved with Ruvuma or Nyuni then Micky!! 6 to 8 wells is the FFD post C-1 drill what a major disappointment for AEX holders today & glad you are enjoying their delay and pain at the news Mick2020 but there again, a 2022 spud it is still 2 years earlier than anything that's going to be drilled here....

https://www.malcysblog.com/2020/11/oil-price-dgo-union-jack-reabold-scirocco-aminex-kistos-gkp-and-finally/

It is good news to see that APT have clearly been busy and are well advanced in preparations for the acquisition of the 3D seismic and the Chikumbi-1 well, with very clear catalysts on the horizon for the JV. Whether that features SCIR at the time depends on the sales process however it ought to be an attractive element for any potential suitors with a work programme now in place to drive this project forward to full field development producing 140 mmscfd. At the time of the Aminex / APT farm-out, Aminex told the market that a 25% share in the project would see revenue of c.US$40 million per annum and I would think that this is a highly attractive proposition for companies looking for gas focused near infrastructure assets. With a clear path to improved seismic definition and a subsequent firm well on a high-quality asset, it would be surprising if there wasn’t third party demand.

All in all, things are really starting to warm up for SCIR with plenty for shareholders to look forward to in the coming months.