Member Info for haggismchaggis1

Here's something I posted on the AEX BB a couple of weeks ago, and as you're now in the JV it's probably of interest to you too.

Things could sure start getting interesting as we head towards 3D Seismic results and then drilling.

Who remembers that the oil is believed to have moved up-dip, from the basin to onshore? Who remembers we chased this oil at Likonde and had oil shows, and looked again for it further up-dip at Ntorya where we also had oil shows? And now we are drilling even further up-dip at Chikumbi.

Many TCF's of Gas will be great, but the oil had to go somewhere, and wherever it is there could be a lot of it....

January 05 2010
"Likonde is an onshore prospect, meaning drill costs are lower and while it may be a relatively small scale project for Tullow, it is an entirely new exploration region for the company. The target is located on the Ruvuma licence and is reckoned to have the potential to hold 500 million barrels of oil in place, with estimates of recoverable reserves in excess of 150 million barrels of oil."

And, we haven't even tested the Jurassic yet.... Chikumbi drilling will be doing that.

Finding East & Southern African Oil & Gas conference in London. 2017.

Mike Rego: “The oil is out there, we just have to improve how we look for it"

Neil Ritson: "“Black oil was seen on the cuttings [at the NT-2 well in Tanzania] – now what we will make of that in the next few months to years, I don’t know"

https://www.rigzone.com/news/oil_gas/a/148862/industry_consultant_theres_still_oil_to_find_in_east_africa/

Mike Rego presentation, well worth watching.

Scroll down to 'All Video Presentations from Mike Rego' and click on the link there

https://www.findingpetroleum.com/biography/Mike-Rego/c7fce48d.aspx

I doubt many will be moving in either direction between AEX and WEN. A lot should move from SCIR to both though.

AEX does has a $35m carry and fully funded to first gas. WEN has the existing production revenues. So six of one, half a dozen of the other?

HighYield

LOL!!

I just don't understand why SCIR are going with the old figure when the operator (not AEX) have said 8.2tcf. My guess is that the old figure is audited, whereas the APT figure is not. However, the APT figure is based on analysis of Seismic by their experts, so should be deemed as valid.

I doubt anyone will be claiming that AEX has more resources at Ruvuma than WEN. What AEX does have is a $35m carry though. WEN has the existing production revenues though. So six of one, half a dozen of the other?

Check out the AEX presentation, especially slide 11 which shows APT think there's 8.2tcf there, not 2tcf.

http://admin.aminex-plc.com/uploadfiles/2022%20AGM%20Presentation.pdf

HighYield,

Nice presentation!

Check out the AEX presentation, especially slide 11 which shows APT think there's 8.2tcf there, not 2tcf.

http://admin.aminex-plc.com/uploadfiles/2022%20AGM%20Presentation.pdf

The big number for me is the following, plus sales up 20% on 2020 numbers.

"Net cash inflow of GBP500k (2020: GBP204k) resulting in year-end cash reserves of GBP1.56 million (2021: GBP1.06 million)"

This is great news. No more worries about the jvp being able to find the development and to secure those funds promptly.

SCIR out of their depth as far as funding a big project like this, it's already caused them massive dilution and were not even into the big money section (that AEX is fully funded for!) where most of the $135m will be spent.

They were stuck between a rock and a hard place so had to take what they could get, which is clearly very highly discounted.

Wentworth will be saying how good the asset is once the deal completes. They don't want to be saying "we got a bargain lads!" before the deal is completed

25p to 30p per kW Vs 140p to 150p.

Don't bother posting any more PEM Fuel Cell news as it's way more expensive than AFC on Ammonia.

Read this thread for details.

HOORAY!!!

13 June 2022

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Ruvuma Divestment and announcement of General Meeting

Scirocco signs binding agreement to divest 25% interest in Ruvuma to Wentworth Resources for a total consideration of up to US$16 million

Scirocco Energy (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is pleased to announce that it has entered into a conditional binding agreement with Wentworth Resources plc (AIM: WEN) to divest its 25% non-operated interest in the Ruvuma asset, Tanzania, for a total consideration of up to US$16 million.

The home of ARA Petroleum no less!!

"Tanzania's president in Oman for talks"

Tanzanian President Samia Suluhu Hassan arrived in Oman on Sunday and was greeted by Sultan Haitham.

Ms Hassan will remain in Oman for three days. Her delegation includes January Makamba, Minister of Energy, Dr Pindi Chana, Minister of Natural Resources and Tourism and Dr Khalid Salum Mohamed, Minister of Works, Transport and Communications, among others, a signal that talks would include economic topics.

Rida Juma Al Saleh, chairman of the Oman Chamber of Commerce and Industry's board of directors, said the visit “reflects the keenness of the two leaderships to develop the solid historical relations between the two friendly countries by building on the relations over the past decades”.

“The two countries have consolidated co-operation in various fields, especially the economic and trade sectors,” Mr Al Saleh told The Times of Oman.

The OCCI is encouraging links between Omani and Tanzanian businesses.

https://www.thenationalnews.com/gulf-news/oman/2022/06/12/tanzanias-president-in-oman-for-talks/

That's the trouble with con man day traders, they spend every second of every day overwhelming every other emotion with greed, negativity and doubt, so when it comes to doing the right thing it's too late, they have already brainwashed themselves into living only for the greed, doubt and negativity that they feed off every day. What a way to destroy your own life!!

Easy to see why ABB are all over AFC, with MACE, Keltbray, Acciona, and a long line of clients in waiting have lined up AFC.

AFC also the winner of Rapid Charging, as the prices below, and prices easily visible on Gridserve, Ionity etc point to 40p to 50p/kWh, but AFC's on Ammonia is only 25p to 30p per kWh and therefore the operation is profitable at current Rapid Charging prices.

“According to the analysis by the RAC's new Charge Watch initiative, it now costs on average 10p per mile to charge at a rapid charger, up from 8p per mile last September.”

“This is nearly half the cost per mile compared to filling a petrol-powered family car, which has risen from 15p per mile since the end of last September to a staggering 19p per mile now.”

https://www.thisismoney.co.uk/money/cars/article-10857005/Public-electric-car-charging-costs-climb-20-autumn.html

"Roughly two-thirds of the price of [fuel cell] electricity derives from your fuel. Anything that is more efficient or can accept a lower and cheaper grade of hydrogen will give you a preferential or lower energy price," Bond said.

Feedback on PEM fuel cells trialed on construction sites in the UK and Europe showed the fuel component of generation costs at between GBP1.40-1.50/kWh due to exorbitant hydrogen transportation costs.

"They could not make this work financially. What we're targeting is about 25 to 30 pence per kWh for ammonia – it's that big a difference. Fuel is the dominant factor, that is why the likes of Maersk are coming out and saying shipping will move to ammonia," he said.

The ammonia still has to be cracked on site by a small 'cracker' unit, but Bond said: "watch this space, maybe we'll be able to get rid of that at some point."

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/electric-power/051021-uk-fuel-cell-company-afc-energy-targets-20-billion-diesel-genset-market

And as I said at the time of that news, the part about dropping the Ammonia Cracker tells us that AFC must be working on a Direct Ammonia Fuel Cell, as that is thee only way to not have to crack Ammonia before the Fuel Cell can use the Hydrogen from it.

Don't fall for a word that this scummy little con man posts.

Don't fall for a word that this scummy little con man posts.

And....

"Red diesel and diesel are responsible for 85% of our UK direct
carbon emissions. By eliminating and reducing our dependence
on all kinds of fossil fuels or substituting these for lower carbon
alternatives, we’re already reducing our carbon footprint ahead of
setting our science-based carbon reduction target."

"We’re taking a hierarchal approach to managing emissions from
our plant, phasing out combustion engines wherever we can or
moving to hybrid options where this is not possible. We’re also
introducing plant and equipment that operates using renewable
energy including solar powered tower lights and fully electric
plant such as excavators charged by on-site renewables or mains
electricity where this is not possible."

Spacet-w-a-t is just another con man trader trying to talk it up or down depending on his trading position, soooooo obvious.

Have you seen this board in the past week? They don't need provoking, they are at it 24/7 anyway.

Ignore the con men and trolls because the only reason AFC (and nearly all other stocks around the World!) has dropped, is detailed comprehensively in the following article.

https://www.reuters.com/markets/europe/european-shares-slip-ahead-us-inflation-data-2022-06-10/

As always, I shall remain greedy when others are fearful (as per Warren Buffett).

And as I stated on another thread, AFC can still put out news that can get it a decent rerating even if the market is falling, as AFC is currently only valued at a fraction of that of it's peers, so news of sales and boom, heading towards the peers £1Bn+ MCap's, offering multi-bagger potential on big sales news.

MCap's
AFC £181m
CWR £1119m = 6.18x
ITM £1418m = 7.83x