Member Info for cperkin

And they are huge ;0)

You can also see the maps here

https://twitter.com/james_ashton_/status/1515713580687052813/photo/2

Thanks to James.

I didn't say it is impossible just improbable before the drill and results, otherwise we are saying exactly the same thing regarding funding.

They either sell the asset or fund it, total bill is $6.5 million for the agreed work programme, we have no idea if some of that is already paid for?
In the meantime though the 1% of Helium-1 SCIR own is increasing in value as that also approaches drilling.

Don't want to be rude but I have much better things to do with my BH weekend.

Happy Easter

Of course that's the case regarding the JV terms but hardly probable between now and the November drill + results. I am sure there are plenty waiting to see which way the wind blows over the next couple of weeks regarding funding, keeping plenty of powder dry myself.

Happy Easter!

"Doesn't agree with me?" I agree with the market I also understand that the company has a very significant onshore gas discovery with very large potential upside but needs funding. (assuming no sale)

Anyway ref you comment about the EPS, maybe you should inform the Zubair corp and save them the £107 million investment they have planned for the asset, it would be kind after all.

Contact Us ARA Petroleum LLC, P.O. Box 1127, P.C. 112, Ruwi, Sultanate of Oman

Agreed, at which point RBL becomes available to SCIR I do believe.

Maybe matherdj, do you think they will do that without a GSA and 25 year development licence?

You do talk some old Rot MrC clucking on about gambling, the whole stock market is gambling and you yourself are a gambler. The first drill NT-1 was a massive gamble, NT-2 the second drill, less so as it was an appraisal of the discover, CH-1 less so again, another appraisal well with the addition of 3D seismic de-risking it further.

Yes Highland, the last plan published included an EPS with the 2 wells already drilled + the 3rd CH1 drilling November aimed at producing around $11 million per year nett to SCIR to then fund the next 5 to 7 wells.

Well you are not a shareholder though are you & laughingly A £5 million raise would in fact increase the current MCAP.

Ruvuma is a fantastic asset with a huge potential upside beyond the already 2 trillion cubic feet of recoverable gas discovered so far. The company has spent around $20 million on it's development & another £5 million for drilling the 3rd well and completing a gas sales agreement makes perfect sense.

Bring on the drill.

Got to say I don't know much about ship 3D Haggis and you may be right. Either way both AEX and SCIR "Appear" to be getting the 3D data for free.

So we have a spud month and Zero hour approaches regards to funding. If the asset is not sold & we see a standard placing as the market clearly believes, then it will need the 6 months to spud to churn.

Or maybe PAET Crusty, very kind of them to complete 3D over kiliwani for nothing....

Welcome TD, but only my guess so others might have a different view.

Approx June/July for completion over the full area and another couple of months or so for data processing results. Not sure if we will hear about the CH1 drill pad results which I believe was target number 1?

Unless they have a Zubair type deal (remember the 1.3p offer) or have a signature ready on a sale then yes a placing and or a CLN type arrangement.

Personally I think most open offers are a complete waste of time and company money as you can normally buy on the open market for the placing price or very often less than.

In an April 8 operations update, London-listed Scirocco Energy said that preparations had begun on the Chikumbi-1 well at the Ruvuma production sharing contract in Tanzania.

The well is expected to be spudded in November 2022, with all of its “long-lead items contracts” now finalised.

Scirocco owns a 25% non-operated interest in the Ruvuma PSA, but it is preparing to offload its stake in the project, which ARA Petroleum Tanzania operates with 5o% interest. Another London-listed explorer, Aminex, has the remaining 25% interest.

https://taifadaily.com/3-billion-feet-cubic-of-gas-discovered-in-ruvuma-drilling-to-begin-november-2022/

This month is my guess Crusty, could even be as early as end this week/next.

They could do so at any point that it suits them with a small buy taking them to 30%

Oh I thought you said you had only bought this week so around 0.85P?

12-Apr-22 14:05:04 0.875 4,500,000 Buy* 0.80 0.85 39.38k