Member Info for CrustyPete

The completion of the SCIR deal has nothing to do with it - the soon to be end of October is the pivotal milestone. GSA and Pipeline initiation due before the end of October. Might the end of October also have had an influence on the SCIR completion? Maybe but we would have had GSA and Pipeline initiation in any event.

Certainly the above is true if you believe what those present at the AGM were told.

"Big seller gone,"? Really? Maybe big seller just waiting.....?

Really? Be prepared for disappointment.

The "majority" of what? You need to compare apples with apples - this company has completely wasted all of their historic resources; the market will only give a +ve MC number once they have confidence that the same will not be true going forward.... it is not a mathematical equation, it is about confidence and future value.

Just because they have more cash on the balance sheet than their Market Cap is no guarantee that the market cap will rise; cash is, typically, severely discounted.....

Well that may well be true Steve but that is not a scenario that is peculiar to SCIR, it is also true of AEX and the sale of their 50% to ARA..... and similarly, despite not recouping their outlay off 8 plus years still ended up paying CGT on the proceeds... beggars belief.

And BG, yes, apologies I had overlooked the miniterial sign-off.

Legalwolf you blighter you! You are a one man He1 wrecking ball!!

BG but for how long and how many time will they agree to extend the longstop......? Not indefinitely I would suggest.

The CEO of Noble already talking to off-takers?!?! What planet is he on? Does he not recognise that they are operating in Tanzania? Has he ever heard of a GSA? He certainly hasn't yet got one; maybe he doesn't realise that he needs one.... so maybe those conversations with off-takers might become relevant in about a year's time.

So, as I say, October and we have no reason to think these targets won't be met.... yet.

Nothing that I am aware of.

The end of October was the target date for pipeline initiation and GSA completion at the time of the AGM; we still have a few weeks until then and have no reason to think that these targets will not be met. As suggested at the time all delivery dates for production are dependent on these dates being met, so if we do not get confirmation of the above there may then be reason to be doubtful of their hitting the production target.

As for the CH1 drill? well that gives me cause for concern already; we have yet even to hear that they have rig / drill contract drawn up! So as far as I can see it will be the turn of the year at the earliest before CH1 drill will begin. Maybe that will force ARA into re-working NT2 before the CH1 drill? If the TPDC are building a pipeline they will surely want to optimise Gas supply into the GPP as soon as possible and the CH1 drill does not achieve that, whereas NT2 re-working would / could do.

Yes Trek and that was largely Legalwolf's point of view for which he was pilloried by all and sundry. And whatever the so called justification he was proven right. I too understand that the company may not have been in a position to take the risk of failure but it does highlight that the risk is a significant one otherwise they would have been happy to do so.

And believe me I have been in shares where they have not done as He1 has done and lived to regret it. Conversely I have been in others who have taken that risk because, as an appraisal drill, they have been very confident of their position and COS and that "post drill" strategy has been paid off handsomely....

"I think the seller since the placing is done. " Really? well todays sp movement suggests not in my view. If you are to trust the reporting, 80% of today's trades are BUYS and yet the sp is down - that suggests to me that there are still some f hefty sells overhanging the market and that we will see some delayed SELLS later in the day.

Well whether Oilman Jim is right or not his suggested scenario would come as absolutely no surprise to me; as I said in response to Legalwolf prior to the fund raise, if He1 decided to go to market for a fund raise ahead of the drill it would indicate that they have minimal confidence in the +ve outcome of that drill, otherwise why would they not defer that fund raise until after the drill when the price would be higher, the dilution far lower and the number of interested parties would be dramatically increased and hence the need for a discount far lower?

I am holding for a +ve outcome but I have little confidence in it. A previous email trail spoke of the COS of the drill with four prospective targets - as I said at the time the chances of missing all of those would be would be 44%, hence the chances of at least one coming off would be 56% - however the timing of the fund raise suggests to me that the BoD do not trust it to be successful.

That could be someone closing out a short.... or, conversely, a CFD "trader" being closed out after a failed margin call.

Well I might have loaded up at -15 - 20% earlier today if I hadn't already done so "balls of steel" in hand at 5.0+p earlier this week..... and who is to say that you won't be saying the same thing this time next week at 3.0p?

Buying opportunity?! Yes if you hadn't already spent the crown jewels on a shed load at 5+p....

Sp down 60% in only three months from 10.2p to just over 4p - and there was me thinking that the fall allowed me to buy a load of cheap shares at 5p over the last 2/3 days...... just goes to show that even when you think nothing else can come along to f3ck things up there is always one more surprise in store!

Thank goodness I wasn't sold on the FOMO of the rampers on this board and buying these at 9 and 10p like some.... those poor beggers may be waiting some time to get off that spike.

Money for God's sake. Or at least an sp rise ;0)