Member Info for highlandmatt

Progress is being made. Just slower than we would like.

Just read the presentation. Wow. That's a lot to take in. It was that absorbing I forgot to take notes after a while. A couple of snippets:-

Slide 3 and 4 - The graph showing gas to power vs CNG is repeated. Significant in decision making and profitability.
Slide 5 - What a project plan. Note CNG kit leased (as per GRH discussion re NED input, reduced capex). Farmout still on the table, but only to accelerate exploration of bigger targets (Dragons Den, to take to next level).
Slide 6 - Been mentioned before, but photo of MOU1 well head. Not my area, but looks like it could produce from that. Anyone confirm?

After that I got lost in the excellent geology and big numbers, with eyes wide open and eyebrows raised. As mentioned below, very transparent, and way more than you would expect for PIs. PG putting the wares in the shop window again.

While there is cash in the bank the end is not nigh. With Ruvuma sold, the cash burn should be minimal. Emphasis on should.

Canada opened up as well. Something brewing for Monday?

The strategy isn't so bad. It's how much it is costing to implement and spending beyond the company means.

Not one about Coho.

I'm guessing not many have said no to a Soviet president.

Haggis. One of those is ADV, which has SFA after a failed drill.

Because SCIR has had to fund 25% of the development costs to date. It suited ARA to spin this out.

About £5.

MRC - no-one thought the BOD would give away the company's best asset.

Lots of folk attacking a rubbish company might just be right.

Redbox - look up Touchstone Exploration.

It is a great film, but a certain amount of artistic licence was applied by Richard Burton. The regiment had only recently moved to Brecon, so was nowhere near as Welsh as portrayed. https://en.wikipedia.org/wiki/Zulu_(1964_film)

Off topic, but many years ago I was in the TA. My unit was B Company, 2nd Battalion Royal Regiment of Wales. RRW used to be 24th/41st foot. So, we were B Company, 2ndBattalion, 24th foot, titled 'Rourke's Drift Company '. Regimental day was 22 January. The first battalion was wiped out at Isandlwana. 'Not a lot of people know that.' 'Stop throwing those bl**dy spears at me!'

I think it was the other way round - acquisitions awaiting funds.

Yes. The thing to keep an eye on is EAG. It owns GGL, which is profitable. EAG should become more valuable and in time grow and return cash to SCIR.

Without Ruvuma, but with $3m received, that should underpin the current mcap. Then there is the outstanding loan to EAG, and 50% ownership of that. If the He1 shares can be retained, that is another few hundred thousand, hopefully to grow to £1m on drilling. So, mcap of double current, is not unreasonable. If the BOD can live within its means, there is hope of a sustainable profitable business going forward, with further Ruvuma payments allowing acquisition of cash generating assets. If not, they are running out of ammunition and will need the Ruvuma payments just to survive.

Canada has opened strong.

Hard to compare an ultra lean micro company with no debt to a highly leveraged multinational with lots of employees and real estate.