Member Info for cperkin

Yes Crusty, 2018. It's quite clear from the AGM presentations from back then.

I think a farmout and drill the south is the way it might likely go?

Really Haggis, and how long before they will be earning any revenue from production to pay for G&A?

The $1.85 million has to last more than this year....

To be fair to Crusty, he makes valid points & there is no way that AEX can perform any works on Kili till,

1.0 They have Government approvals
2.0 They can finance it.

I still expect the best chance of progress is handing over operatorship for a carry in the same way they have done with Ruvuma.

Great assets, no cash.

Bearing in mind the AEX deal, they would do well to get £20 million for the full 25% holding + the kili licence. A far cry from Neil R's $100million NAV unfortunately.

Still good to see all things O&G in Tanzania are progressing these days.

https://twitter.com/abdulsamadz/status/1494367487395303428

Expect them to close out possibly H1 this year.
The Minister for Energy
@JMakamba
held talks with negotiating teams for the $30 Billion LNG project to be built in Lindi. He also received a report of the negotiations and expressed his satisfaction with the speed and directed all teams to continue the discussion without stopping
https://twitter.com/abdulsamadz/status/1494367487395303428

Well like for all AIM companies you will have to wait for the accounts to come out, although you seemed to have a hard time reading them the other week and inflated the numbers by about 10 fold. Don't worry though, investors here will put up a summary for you Dan.

Completion of upgrade @ Ubungo III and Kinyerezi I power stations. Additional 70 MW due April.

https://dailynews.co.tz/news/2022-02-116206638a55350.aspx

Thanks to AGD @ WEN

Got to give credit where it is due for balance, Tom and the BOD did a great job off loading most of the shares above 21p despite the daily postings on here by the non invested insisting they sell at 7p or below.

I am inclined to agree with you Highland, I expect once they announce a spud date then the SP will likely build to drill again there.

It could make a significant difference to the Ruvuma kitty if it is not sold by the time they drill here in Q3/4 2022

Well if that's the case Dan, maybe they can find the Tweet button? I thought Neil R was bad but at least he used the medium for communication more regularly.

Maybe the BOD should sell the HE1 shares and buy out the remaining prolific or should they wait for the drill and the potential increase in interest over there and thus likely increase in HE1 SP?

RNS Number : 3776A
Scirocco Energy PLC
02 February 2022

"Seismic camp fully constructed, and the contractor Africa Geophysical Services Limited ("AGS") is completing the mobilisation of all necessary equipment to site. This work is expected to be completed by mid-February"

Show me where I keep banging on about how good Gneiss are than Dan? I said they are good at raising money and doing deals, with over $210 million in the last 2 years is evidence of that Dan is it not?

Seems you are get all personal and emotional yet again.

Still at least they have manged to protected the main asset, needs must and all that.

Dan, I have nothing to apologise for and excuse them nothing and have with BD confronted them directly (not hiding behind a fake name on a BB like some) I did not employ them, it was Dan mailing according to his video on you tube, who bought them in due to their vast experience and access to capital markets.
https://youtu.be/Fc2-zOwtxeY?t=290

Sell the asset or raise and drill, end of Dan and the closer we get to that spud date the more shareholders will want to see the drill imo.

I get your point Dan, firstly the number is £650,000 and not £1 million as you state and secondly the earliest that cash will have to be paid to drill is many months away. Currently the Zubairs plan the drill for early Q3, so that's the earliest date and Q4 would not be a surprise. Based on your current theory of them selling as soon as possible then the £650,000 overhang will be long gone. Unless your other theory is correct and their is an upward rise in the SP due to material news and then they will be gone anyway.

Either way the one thing Gneiss are certainly good at is closing deals and raising money, that's exactly why the last BOD employed them in the first place.

Well we will just have to disagree, as referenced before Gneiss guys have done over $210 million in business in the last 2 years with many of the raises being for drills including wildcats, never mind an appraisal of an already multi TCF discovery. I have never known the market not be able to raise for a drill.

The real question remaining is which is more likely, sale of the asset or fund and drill?

Dan they have only played a blinder as you say, if there is material news such as the sale of Ruvuma that then increases the SP significantly allowing them to convert the remaining loan amount @ profit, otherwise as you pointed out they are incurring losses.

Looking at your history, you would know Frank, what with those ramp-tastic Telegram groups ;o) !!!

Wise move steve, well done.

Someone want's to see the eating of the hat ;0)