Member Info for CrustyPete

Yes little_me "We already have that risk with a greater potential reward..." but without the cash to cover the obligations required as a JV partner in the intervening period.... $6.5m between 1st Jan 2022 and CH1 spud completion and then the expense of two new drills before production ($7.0m perhaps?) and maybe the cost of a pipeline too ($2m?). And if you canot find it you will end up relinquishing your 25% for nothing.

So where does the SCIR bBoD get $15m from? They have spent the last 2 & 1/2 years trying to find a solution without success and the clock is still ticking.

Agreed m2020

Yes Steve and yet in retrospect which deal would you rather have spent $30 million on - OneDyas or your carry on 25% to full production??

So was that it?!A multi year wait for a 52/53% sp rise on the long awaited asset sale....

I am not in front of laptop and only on my phone Frank so not really able to re-read it but, if I understood it correctly the 1st Jan date metioned relates to the official date of the agreement and there is no date attributed to the expected drill or seismic completion date.

DPL - you still have a stake in Kiliwani! ;0)

For now anyway...

M.S. AEX got $35 million of credit NOT cash - they are totally different....

I hope you are right M.S, on the 100% rise but I would not be so confident....

CP, you say "I should imagine there will be a few who follow the asset over to here and WEN"

You may be right CP but at the current sp even if 100% of them come over that will only be £4m !! ;0)

I always thought the idea that they would get $20m (AEX deal pro rata - supposedly!) plus as cash was always a fantasy - but just as AEX found out with the APT farm-out, if your back is against the wall, you have no leverage and the longer the clock ticks the worse your position becomes.

I would agree BG unless you happen to be a SCIR shareholder I suppose ;0)

As I have said for an eternity. $35m of "credit" is NOT worth $35m of cash..... and despite the project now only being 6 months from completion of CH1 drill. QED.

Agreed edgar, absoluely correct and was confirmed at the AGM. Moreover whatever the conversations with the EU may be LNG at least, what, 5 years away? Easy stuff for those that aren't looking to ramp it, easy to ignore for those that are....

"This company will not fail"... I would tend to agree with that statement; however the sp might well halve beforewe start to see a recovery in the share price post funding.

I stopped buying some weeks back and will not be returning until the funding issue is sorted out.

"but I say what I see" Lol!! Then it is time you went to the optician - otherwise yet another case of the blind leading the blind.

"spins the info to suit his position of wanting the price kept down as long as possible before November drilling"

NO! I have an opinion that the sp will not rise significantly before November (for reasons explained umpteen times) hence I am in no hurry to buy now - and that has been my position for the last 15 - 18 months and to date I have been proven 100% correct.... unlike mcdoughnut who has been exhorting people to buy now FOMO and for the last 15 months has been proven totally wrong! The price is still what it was 15 mnonths ago.

It will happen, of course but I do not expect seismics results to be published for some time yet and even then I do not think they will do much for the sp. The presentation at the AGM showed an increase in potentail GIIP to 8 TCF based on a review of the 2D data by APT - has that done anything for the price?

I don't need to attempt to keep the price down mcdoughnut it has been doing it all by itself for long enough. Moreover nothing that I say or do is remotely going to affect the market. To suggest anything else is just totally naive.... ridiculous.

Ha, what a joke, been on the AEX BB for two days and has already decided who to "cancel"..... so first I am deaf, then stupid, then a liar and now "cancelled"?! Lol :0)

Well that's what BB's are for surely, simply looking for posts and posters that support your pre-conceived viewpoint. Ignorance is bliss eh?

sorry should have read 2P resources, of course.

Agreed matherdj, don't like the message so call the messenger a liar.... typical ignorant BS.

Or Wress yet another option. Simply a case of people giving an honest and uninflated opinion based upon the information available and discussion imparted at the AGM.

FWIW I have been saying for over 15 months that there has been no urgency in buying these shares contrary to the hyperbolic assertions and expectations expressed by mcdoughnut and others - here we are all that time later and the sp is the same as it was in April 2021 and we are still waiting for it to hit 1.5p - the price that has been mcdoughnut's imminent target throughout that period. As matherdj points out I have been highlighting it as a "buy" since Xmas but not a "strong buy" as I still believe there is time to buy at these prices. Why? Because of what I was told at teh AGM regarding the seismics and the belief that even when we get them they will have little effect on the sp. Let's face it the GIIP forecats are already huge and already known - why will an increase in GIIP brought about by the seismics significantly move the sp? The current reserves have hardly influensced the sp that we currently have! No, it will be drilling, GSA, pipeline and eventually production that will turns 2C reserves into 2C resources and that will bring about that movement in my view. Yes there will be a rush into AEX over the drill and a sizeable sp spike but even that I think will be short lived.

No ramping, no deramping, just and honest and considered opinion. Take it or leave it.