Member Info for cperkin

Unfortunately bigpat, I think a positive result at CH-1 would preclude many of the current 7 players in country from making any bid due to the high value post successful drill and that's just the gas, never mind the oil potential. If it's not sold before CH1 then SCIR will likely have to find the remaining $27 million for the FFD.

It's certainly no Groningen thus far :)

Nice to have an uninterrupted and civil conversation on here for a change.

I agree with steve here, it's now or probably never . If it's not sold by Christmas then shareholders will be looking for the drill with the acknowledgement of the funding required beyond the $3 million already available.

Well joelt, certainly everyone agrees ref the BOD at least, we have all endlessly posted the same over the last couple of years, great on paper, delivery outside selling of assets almost non existent, at least beyond protecting the primary asset, something both the old and new bod have done successfully.

The point is that there is no way this BOD will or even can deliver in a meaningful way on their vision and strategy without selling the remaining Tanzanian assets, by that I mean, Ruvuma, Kiliwani and the rest of HE1.

The odd mill deal at a time ain't gonna float any ones boat, however the drill will but it will cost short term.

I think it's now or never Frank, the likely outcome from CH-1 is that once drilled it will put the value beyond the reach of most of the players in Tanzania bar the majors.

Fair enough joeltg99, I thought that recent events in Tanzania had completely changed the landscape enabling any sale to actually progress.

Well we may as well just leave the BB to Dan's constant de-ramping and cross ramping other shares and wait.

F off to those other share bb's if you want to talk about them.

SCIR currently has it's most valuable assets up for sale with a value over $20 Million, that what we should be discussing.

So the asset is currently valued at $0 then

In short but BG seems to have it covered :)

$35 million carry to production and probably full field development as per the conditions of the farmout. 25% non operator of a huge resource that has already been drilled twice with both wells suspended for future production and the third CH1 to be drilled in 2022 as another potential producer.
A payment of $1.85 million owed for past gas sales is due to also be delivered next month providing cover for G&A.
FFD plan
http://admin.aminex-plc.com/uploadfiles/EGM%20Presentation%20Jan%202019_Final_long%20v1.pdf

Blimey bonkers, long time no see, hope all is well.

Carry to production here, possibly full field development, 3D starts 15th November this year with the drill second half next.

Ah nice to know Dan, I am sure everyone should be made aware about that with their current Venture then :0)

Seems you assume a lot Dan. I have no idea if your numbers are correct, but shareholders will consider it a waste of money if they do not sell the asset but we have paid for their time.

All imvho of course Dan.

PS when you and Neil opened the data room back in 2012 and again post NT2, how much did you think you might get for a farm-in/sale, I remember you and Neil touting $100 million valuation post NT-2 drill?

Pot and kettle there Dan.

Yes a retainer will be a complete waste of money if they do not deliver a worthy sale price for Ruvuma and Kiliwani but worth every penny if they do.

Yes I think that's what they said in the interview that Frank organised Aimster.
The Bod have also said that the $1 million is also for another AD type deal. So they are either confident of selling the Tanz assets or confident of funding Tanz as well as more AD?

Definitely not enough in the kitty for the 3D + the drill post 1st AD deal, never mind if they do another one steve.

Total cost for 3D + CH1 drill = $6.25 million

Held group cash at 30 June 2021 of £2.3million
They should receive $150,000 from the tax resolution in Nov.
They just received a further $1million from the Prolific basement facility
They have up to another $3million available from the above.
They have at todays value a further £368,000 in HE1 shares.
They have around £25,000 per month income from the AD deal

They had to pay £1.2 million for the AD deal
They said G&A will be in the region of £0.5 million this year

So they will need money in 2022 if the asset is not sold first.

Aimster you missed the tax resolution on the 15th October with payment due by about the 15th November don't forget it is both kiliwani and Ruvuma that are now for sale :)

Holy, this company has a history of well failures even when the well is supposed to be an appraisal well of an existing Oil and gas field. So yes for low COS wildcat drilling I agree that you have to accept that you will get a high degree of failures as indicated by the COS but not for the two wells currently targeted. That was the whole point of completing 3D (at expense) to identify the exact optimum location, if either well fails then you have to question the BOD's operational execution competence imo.

Anyway like you say, lets hope both come in and the BOD hit their 1100 bopd target and I imagine that all will then be forgiven.

Afternoon steve, 3D starts on the 15th November and the price starts to increase, first target is around the well position for CH1.

Well it did not take you long to drop to your usual level of low intelligence then Dan. As per usual when you are getting owned on the BB's you resort to insults and no doubt will be getting the threads deleted which is your other losing tactic.

Soon be Christmas Dan :)

Here we go disruption time from Dan, what this claim Dan?

There are other cash rich companies in O&G in Tanzania who may be interested in a large and cheap onshore gas development that appears to be the next major gas project in Tanzania along with the LNG.

But there again, the BOD have been clear they will fund it to production if required, the EPS pays back in less than 12 months of production after all.