Member Info for cperkin

So it looks like SCIR are selling both Ruvuma & Kiliwani from todays interview Frank.

For clarity, looking good for the sale of all of the Tanzanian Hydrocarbon assets!!!

Excellent interview Frank and thanks.

Looking good for a positive sale outcome.

What's all this "WE" bull, you say you are not even a shareholder, so of course you have not seen anything, "We" have just seen money from an asset sale turned into a profitable producing asset and it looks like the BOD are about to do the same on a much larger scale in the $10's of millions.

As the Ex CEO I guess you just can't handle the thought of a BOD in charge that are many times more capable than yourself Dan and about to deliver what you continually failed to deliver with Ruvuma.

Sour grapes with your Cow pie every morning leads so the Sh$t3 m8.

The price in Tanzania is pretty much fixed and linked to the US CPI I think steve, so reasonably isolated from the high and low swings. I do wonder if they will bundle Kiliwani into the deal and completely exit Tanzania?

They have massive experience with these types of deals, The first RockRose deal Gneiss did was for £94 million of Dutch gas assets.

Question now is who is interested in buying, at what price and what would shareholders here accept, $15 mill, $20 mill, $25 Mill,$30 mill or ANO?

Morning, maybe mjapac, but there again I would sell if I did not see value. I invested here for Ruvuma due to the size and the value of the asset, it looks to me like there is about to be a value realisation. The question is of what size post costs?

The costs for Negotiating, DD, legal will always be there, question is who will provide the service and at what cost and as a PI we have no idea if the related party gives a better and more cost effective result than some other un-related party (if there truly is such a thing on small caps?)

I don't understand why there would be a need for a placing mjapac, they have a few mill in the bank and a loan available if required, unless they were forward spending on a producing asset of course. I think they need to close any deal on Ruvuma first.

And the man says, Ruvuma is worthless and any chance of a Ruvuma sale is just a dream anyway.

Lets see matherdj.

Well Dan/ Mrc/d did say that Ruvuma was worthless yesterday so any sale greater than £0 will be a huge achievement and therefore he will be over the moon Frank ;0)

Good luck tomorrow Frank, don't expect much in the way of answers.

@ Mrc_Mrc_Mr_c_mrd AKA Dan. Many thanks, I am a little thick and just wanted to make sure that you were saying the events are unrelated, no sale is imminent and any sale of Ruvuma is in fact just a Pi's dream.

Well I hope for shareholders this turns out to be like your 7p best price for Helium-1 when 21p was achieved & the BOD know what they are doing. I dislike undisclosed amounts even if a sliding scale does seem to incentivise the party instructed to deal with any possible or imminent transaction/sale for the benefit of all.

You would have to discount the "undisclosed Gneiss fees" + I think the Tanzanian CGT steve? Most transaction fees on AIM seem to be around 10% which is pretty much the corporate standard return as far as I am aware and we can calculate any CGT from the recent AEX ARA deal (providing they are still the same rate)

Looks like things might be warming up for a Ruvuma disposal?

https://www.lse.co.uk/rns/SCIR/related-party-transaction-jbd5c999ewsjarf.html

In your words, report the to the FCA then Dan.

So I just want to be clear Mrc_Mrc_Mr_c_mrd AKA Dan. You believe that the TR-1, the subsequent progress on Ruvuma sale RNS and todays RNS are unrelated and are in no way indicative of the imminent (had to get hat one in) sale of Ruvuma and are in fact a dream?

Thanks

Well the proof will be in the pudding steve, but like I have been saying for weeks now, there is no way I see that they can finance such a large value in acquisitions without the sale of Ruvuma even at a 50:50 JV split.

That's all shareholders ever can do, read the RNS and guess the direction (read between the lines) and anyway It's as much a cynical review in terms of timing as it is in terms of the fact an offer might be round the corner. Alas I guess some are so one eyed they clearly can't see past the end of their nose, never mind thier p%!2k

Cow pie anyone?

Read the previous announcement and this one and put them together, almost sounds like Ruvuma might be sold, question is for how much and for what fees?

RNS Number : 1074N
TR-1: Standard form for notification of major holdings

RNS Number : 4594N 30th Sept 21
"The Company made progress on its Tanzanian asset sales process, which is key to delivering its broader strategy;"

RNS Number : 1108O 5th Oct 2021
financial advisory services related to the previously announced proposed sale of the Company's Tanzanian interests (the "Proposed Disposal").

As is always the case it seems, we have no material idea of what the funding and sale fees will be, only that the NED has signed it all off.

Makes you wonder why now in relation to the announced sales process? If sold then Gneiss are likely to profit nicely on a sliding scale depending on the price.

Win either way for them, just much bigger if they get a decent price closed out it would seem.

Yep, loss making due to the gas price at the time, how things change in the market. New highs now, new lows next cycle?

Thanks Trojan, needs the next set of news to move it on.