Member Info for mrc_mrc_mrc_mrd

I didn't expect this to drop back so quick, but I suppose there is a lot of uncertainty now and investors punish that.

BoD need to issue clarity on strategy to stem the flow ASAP IMHO.

The c is meaning less, you are free to think it stands for something if it gives you pleasure.

Mr c was taken, as was mr c mr c, and even mr c mr c mr c.

Best regards,
Colin

I don't remember that Individual Ariel, it was mainly yourself and Chris that were "ramping" as you call it. And still at it!!

What is your average on this now? If that is not too personal a question.

Caddy - going bust would have been a mercy I believe.

So many plough good money after bad to "average down" or "top up". Absolute madness and so cruel.

I remember looking at this when they did that placing and the "new" BoD came in. We were told then by the usual suspects what a bargain things were and lucky to get in at the placing price etc. And of course what great assets the company had with Ruvuma and helium 1.

Helium 1 now a failed investment IMHO as judged by the market value of SCIRs shares. How long before we get an offer for Ruvuma which is equally disappointing.

Frank - I agree, probably going to drift below 1p where it might be worth a punt?

Back to sleep for the next year if you are brave enough to be a long term holder.

Fairly shameful of some on here to be promoting this share incessantly since the (rather obvious) spike on the farm out RNS.

Screaming buy all the way down from 2.5p LMFAO

0938

And yet...you asked? Several times

ROFL

Ariel - lol, I am interested in european focused energy companies!

Looking to get in here if the price is right.

Seems like there are a few solo oil investors on the SCIR board.

Gents

If you don't like the european agenda then what are you doing here?!

Lol.

The longer they sit on this asset the more it will cost and the more existing shareholders will be diluted.

Agree AA, when your invested all you can see are the pounds you've lost. Just trying to help but it seems like there is a brick wall between us.

Funny thing is, if the BOD do what I think they will then the SP here will rise!! If they do what Chris wants then most likely SP will retreat until substantive news (2022 drill results?)

Chris - you are taking the price for apples and expecting to get the same for your oranges.

The market will decide. Our 25% now is not the same as AEX 50% 2 years ago. Especially if we want cash up front. The buyer is taking a huge risk if they give us 20k cash.

Any chance you could direct me to the information you have that shareholders will get a vote on the sale? I can't see anything in the annual report.

Have to say I agree with crusty, and actually don't understand why you can't admit these facts Chris.

I really don't know why you keep banging on about this comparison with AEX - it's not relevant. If there are multiple interested parties then the BOD should ask for bids and accept the highest all cash offer. That is what will set the true value.

Do shareholders have to approve the sale? I would doubt it but need to have a look.

Cperkins - makes their new strategy look a bit silly then doesn't it. A European energy focussed business...in a few years time after a little adventure in africa!

You say a deal has just been agreed for 25% at $20 million, which is not true. It is a false extrapolation.

$5 million cash has changed hands.

I would also add that it took more than 2 years for that deal to go through. Has nothing changed in the macro environment since then???

I really do think you are not facing up to reality. I hope the BOD do.

Let's get the lot sold and replaced with some cash generative assets at a good price.

AA, Chris,

The BOD have had no qualms about selling failed investments at a loss.

If they go your way then it is another 5.7 million spend (assuming no overspends), and all the risk associated.

I'm not going to say 2C is worthless, but I would heavily discount it, especially in Tanzania with an unstable political / regulatory regime.

The BOD agree with me I believe - would not be at all surprised to see a deal at less than $20 million accepted.

I think you are both still invested in SOLO and it's mad cap "investments".

Chris - agree but we have been talking about the Tanzania assets for years...if there really are several interested parties then let's just get the bloody thing sold ASAP. The market assigns a value of £8 million to it currently.

BOD need to cut the price if it is not selling at $20 million. They haven't made a secret that they are trying to get out of this so why is it taking so long if there are interested parties?

Get the cash and get on with becoming the company they have promised.

January - I could also win the lottery tonight. I think you need to recognise that ENQ is a diminished company to what it was a few years ago. Production volume is way down on what was expected at the time of the last rights issue.

The clock is running down here...looking unlikely ENQ will pay it's debts in 2021 as they come due. That means dilution, and your market cap at 60p may be more like £2-3 billion.

Surely it's time to re-evaluate

I believe everyone needs a more realistic goal. 30penceparty? (January2, please do not change your handle)

Surely nobody believes this will ever get back to 60p??

You need long term oil prices to average $80 plus to get anywhere near 60p IMHO. And it needs to happen very soon so ENQ can pay their debts as they come due.

Chris - so the strategy has completely changed then?

Now is the time to be buying up european energy assets if that is still their vision for the company. If SCIR are serious they would accept a reasonable offer for Ruvuma. Currently it is using up valuable resources.

SCIR would be a different company if their market cap was covered by cash.

If they do it then SCIR are a buy for me. As it is I have no idea what the plan is...is it as you say? Or as we were told by the BOD a short time ago?