Member Info for mrc_mrc_mrc_mrd

100% agree NQM

Costs should have been cut last year and salary is a big prt of that. We need to start seeing results.

Likely to see a large drop in production over the next 12 months. No drilling planned.

The gas price is great, but not a game changer given the declines and lack of recent investment.

We need to get the cash pile put to work.

Yep and below ABs recent purchase price.

Looks like Omicron might be a short term pain but burn out quick.

I think I am upsetting Chris now so I will refrain from posting further until our bet settles on Christmas Eve, or we have something else to comment on.

With the share price plummeting yesterday it’s understandable you are getting anxious Chris. I’m not a complete A hole so will leave you to recover and get used to the new SP.

Frank - I have put my money where my mouth is.

I’m have 2 bets running. One for Xmas eve and the other for year end.

Chris - it’s quite amusing to me that you believe I am Dan Maling, poor chap. He’s getting an absolute slating!!

I wonder if he would want to pursue you for libel? Maybe I will drop his firm a line about your posting. Seems you are also publishing defamatory posts about one of his companies!! Dangerous game if you ask me!!

The CEO clearly states 20 million DOLLARS.

Right after he says it would be irresponsible to put a number on it!! So unprofessional and clearly a sales pitch to retail punters.

If he is willing to say that in public then he is not expecting to achieve that in a sale IMHO. It is probably his starting number in negotiations.

Ara paid that (mostly through a carry - not hard cash) for a STRATEGIC stake so that they controlled the project. All they need do now is outspend SCIRs ability to raise funds. Not hard when cash does not seem to hang around for long in SCIRs accounts.

Chris

Sorry but Ruvuma is worth what someone will pay for it. At the moment that is ZERO.

If an offer is on the table then I will concede the point, but given that the for sale sign has been up for 3+ years I doubt there will be an offer anywhere close to $20 million.

Chris - malcy claimed that SCIR had $9 million post UKOG disposal. We have since then made a very tidy sum in HE1 sale. Where has all the money gone? How can they have spunked the best part of $15 million in the 3 years!! And literally nothing has progressed until the seismic which started recently and an asset purchase which was mostly taking on debt with a tiny up front cash element.

Or are you not bothered what the BOD do with shareholder funds??

Chris, I note your post from 2018!!!

It hasn’t quite panned out like you said…

perkin Premium Member
Posted in: SOLO
Posts: 21,460
Price: 2.30
No Opinion
RE: QUESTION FOLKS ???10 Sep 2018 19:42
About $3.5 million (note US $) for solo's share of the C-1 drill Frank, so already covered @ todays price with plenty to spare.

Not convinced they will get it Frank. Very difficult at this market cap.

We still haven’t seen the prolific shares flooding into the market. A whopping 25% dilution, and the cash is already gone!! Or will be before phase 2.

AIMVHO

Earl - the Zubairs could easily spend $5 million to buy SCIRs share. However they have no need do this given SCIRs financial position (not fully funded for the work programme)

Has placing news leaked or something?

Zero.

Nobody wants it other than Zubairs I think. All they need to do is keep spending.

The BOD should be accepting any serious offer (e.g. $5-10 million). This makes me think we are not even getting offered that!!

Any deal will likely take years to complete going by history. So yes, my humble opinion is that SCIR will be forced to relinquish or incur massive dilution (will anyone buy new shares to fund Ruvuma? I have my doubts!)

AIMHO

Mining is a different ministry I believe.

Chilting - a lot of them are still priced to go to the moon. Given the inflation and interest rate risk they are too expensive.

My prediction is a Santa rally then sharp drop in the new year. But WTFDIK!!

What’s not to like?

The fact that when the BOD took over they had several assets and $9 million dollars (supposedly)

Assets have been stripped and cash has been sent out to Gneiss. Who just happen to be run by the very same people who control SCIR!!!

AIMVHO

Modestus and Maverick

My view is that the next 6 months will be less about covid and more about US equities and central bank interventions. Something has got to give there IMHO.

It will have real world consequences for oil demand but I would rather be in an already battered sector than in a bubbling sector.

Supply chain issues and inflation are here to stay.

I invest in a lot of start ups and supply chain issues are causing real problems and cost pressures. It’s going to start showing up in earnings across the pond too IMHO which could be the trigger.

The clowns have been sent in so that is a buy signal for me.

The World looks unlikely to lock down. If it does we have OPEC+ to cushion the fall, and some OK hedges. If you can risk locking up cash for 6 months then this looks like a very good bet IMHO. Could all rebound very sharply once the impact of omicron becomes clear (for better or worse). Just need some certainty to return on what it means.

And of course we should get refinancing out of the way in the first 9 months of 2022. Moodys want to see that at least 12 months before maturity.

Usual story of Perkins defending this stock no matter what.

I recall at 2.25p you were spouting about how it wouldn’t go below the placing price. Holders will be lucky to see even that pitiful SP again.

Has Ariel Arrow now sold up?

Hi Frank

My worry to be honest is that they can’t get a conventional placing. Seems like it will be more prolific basins drawdowns (assuming they let us). We know that they do not hold onto the shares they get. They sell down before the next drawdown IMHO.

Alternative is to stop paying the bills and relinquish Ruvuma. At least then we can all move on with the new strategy.