Member Info for cperkin

https://www.thecitizen.co.tz/tanzania/news/tanesco-announces-10-days-of-nationwide-electricity-rationing-3698338

Sorry Dan but after your now almost 2 years of constant de-ramping, we all know you DO NOT have shareholders best interests at heart, only your ongoing vendetta with the BOD for kicking you out.

Anyway it's an easy answer, they will get a nice return on the sale of the assets with a one of payment, the larger it is the larger the return to Gneiss. They will then continue to draw fees on the reinvestment of that money in AD etc.

Ref RNS Number : 1108O

Have a great weekend all.

Yes I have plenty of AEX as well, been buying on the way up since 0.46p to guarantee a position for the drill should SCIR complete a disposal before Ch1 is drilled.

Fair enough Aimster, nothing wrong with reasuring the market but no money for drill needed till at least part way through Q2 though ready for the drill early Q3

So I don't expect to see any movement before then, of course the ideal for me would be an offer of £15 to £20 million, raise the money on the value reset and then drill. My fear is that the BOD and their friends already have such a large vote that they will bundle through any offer made for Ruvuma and Kiliwani.

I don't understand why it is difficult to understand that the BOD will fund as they go, why raise money when it's not needed.

Should be about 3p with a £15 to £20 million asset on the books.

Still got a long way to go, was 3.5p when the Farmout was introduced, farmout now complete and 1p

...

Oh and night, got better things to do.

Maybe for the IT illiterate, it took me all of 60 seconds to look up the real numbers........

Dan the comment SVS made was "Can't say I recall reading a financial statement where Millions in fees and he was right and you were wrong, that's who you should apologise to.

Made up carp again.

Gneiss Energy Limited £538 full costs 2019

https://d1ssu070pg2v9i.cloudfront.net/pex/scirocco/2020/10/12103814/solo-oil-plc-2019-annual-report.pdf
Pg 74

Still too much I grant you but at least tell the truth for once.

Always fun here Fran, you still only half in? Bit of a shake on 0 volume, full ask paid at close though.

See the AEX board are somewhat more excited at the news today both WEN and the LNG negotiations. Seems the Gov are all go for gas.

Well I don't think any shareholder here has ever been impressed with GN fees, although they did forecast £250,000 (without M&A) for 2021 which incidentally is what we shareholders were paying Dan M a year as CEO (for what who knows) it will be interesting to see what they real number is, something we will all be looking at in detail when published as BD has pointed out to the BOD.

Looking forward to this double geological target drill.

You are forgetting the money already spent on the 3D circa at least $1million. The full work programme, 3D drill and GSA negotiation = $6.5 million minus the money already spent on the 3D which comes in way below your number and that's not including cash on hand & money being generated by AD.

Seems this is just another one of your sell HE1 @7p kind of expert calculations & advice?

Anyway the dynamic here is quite clear, sell the asset for circa £15 to £20 million before the drill = multi-bag
Fund the drill and drill, multi-bag even post a raise by end Q2 for the drill.

So I will stick with the operators numbers as per the RNS thanks.

FFS try reading an RNS Jeez.

Fri, 22nd Oct 2021 10:00
RNS Number : 9574P
Scirocco Energy PLC

"The work programme will concentrate on shooting 3D seismic on the licence area and drilling the Chikumbi-1 well (CH-1) and Scirocco's estimated share of cost, net to its working interest, is US$6.25 million."

https://www.lse.co.uk/rns/SCIR/tanzania-operations-update-6luscntp5n1sdxh.html

So I think I will give your expert made up opinion a skip .... again thanks.

Prolific are only one option, Gneiss completed over $210 million in deals and funding in the last 2 years, $5 million is small change in comparison.

The total work programme is only $6.5 million Dill + 3D your numbers as I pointed out are way over inflated, no surprise there to anybody that reads this board.

https://www.lse.co.uk/profiles/mrc_mrc_mrc_mrd/

Yawn, stop making up inflated numbers with your continuous one man revenge vendetta.

It's around $5 million for the drill with $3 million still available from prolific.

Never ever known any challenge to raise for an appraisal drill, ever....The lenders and the markets tend to like them. So If not sold then raise Q2 for drill Q3.

End.

Record production, payments continue on time and in full and outlook positive for gas in Tanzania.
https://www.londonstockexchange.com/news-article/WEN/operational-update-and-2022-production-guidance/15302038

•
"The Company continues to explore and evaluate growth opportunities both within the Mnazi Bay licence and the greater geographical region to support increasing in-country demand for natural gas"

Daily average gross production in 2021 was 24% higher year-on-year
Wentworth remains debt free with $22.8 million cash on hand at 31 December 2021
https://www.londonstockexchange.com/news-article/WEN/operational-update-and-2022-production-guidance/15302038