Member Info for mrc_mrc_mrc_mrd

History tells us this company does not have a viable business model. The problem is that there is no market for our product.

We built it, and nobody came.

Hi Chris - based on my analysis of the situation. It's an opinion.

Buyer's can wait out SCIR who don't have the fire power to bring the asset to production. Pick it up for next to nothing?

Only way I can think to get anywhere near these targets is to sell Ruvuma at a knock down price very soon. Maybe $8 million would be palatable?

Seems like it is a bad deal, OR, years of attrition before production at Ruvuma.

I be fair the strategy is in tatters now with sale of our major asset looking highly unlikely.

Only way I can think

Romaron you post enough balls about the equity so please don't bore us with bonds.

Oh dear, fishing for likes.

Dear oh dear oh dear

Lol

Produce a portfolio of cash generative assets.

Focus on european energy market.

Low risk organic growth.

Stewardship of shareholder capital.

Chris - agree there may be opportunities for PIs to trade HE1.

4p probably not the highest it will go, but I think there will be much more favourable entry.

SCIR already have exposure to Tanzania and large resources to be investigated / developed. From SCIR point of view 800k now may be better put towards that, or to some producing assets to balance the portfolio.

Can you imagine if the first drill result is not good?

Chris - my feeling is that the board are trying to move on from the wildcat jam tomorrow prospects. They did well to sell UKOG and I think they will do well selling HE1 at 4p.

I appreciate you may have a flutter on drill results but I will be a bit disappointed if the BOD do. We all know rather too well that after the initial excitement subsides and the reality of development costs and problem of working in Tanzania rear their heads the SP will probably tank.

If they really like this asset they would have protected their share at the IPO.

Last point - 800k cash in the coffers would be handy to provide a bit of comfort in relation to Ruvuma work programme.

Board are probably too busy trying to get their shares sold! Doubt these sort of prices will be seen again any time soon at HE1.

SCIR have been diluted to all hell by this IPO, this looks to me like a great opportunity to exit and get a bit of their investment back. It would also help fund Tanzania.

British - I think you mean "if" they drill and discover commercial helium...

What is the CoS of these drills?

Pre IPO valuation was £30million ++???

This is highly prospective wildcat stuff guys. Take care.

I can see lots of people getting impaled...

Auson, amjad may not want to raise at 8p but he may be left with no choice. (Most) shareholders are not stupid and can see that a RI is on the cards to stave off bankruptcy IMHO.

Easyp - I can't see it going for 50p...doubt TC would be a seller at that price and he owns 25%.

Likely also unattractive to pure oil companies with these lumps of land included...fairly sure that was part of TCs plan...bit of a poisoned pill, and forces buyer's to negotiate over individual assets rather than a hostile bid.

John - not sure the energy use is as simple as that. In the first lockdown the demand for gas reduced, but might be different heading into winter with lots more domestic heating on during the day.

In the medium term I still like european gas. Lots of big LNG projects and gas pipelines will be getting delayed due to Covid so I feel prices will be better in the next couple of years. Obviously platypus has also been hit, but it's a relatively small project so hopefully can be brought on quickly to take advantage of any rebound in prices.

Romaron, no need to be facetious.

You are taking my point out of context.

Clearly you are alright jacks.

Try listening to the medical professionals on the front line dealing with this. Or people who have had this. It's real and it's serious. The protestors are idiotic selfish conspiracy theorist.

The government has been crap but they are not making this up to deprive you of your liberty. They are just Ill equipped and a little incompetent.

And it's not deaths that are the problem, it is the beds that the sick take up that can break the NHS. And the absences of NHS staff.

Havealot - young people need to get vaccinated to provide protection to others in society. It's not as simple as vaccinating the old and vulnerable. For a start vaccines are not effective for people with compromised immune systems.

Our grandfather's didn't fight 2 world wars for us to use that freedom to get pints in at the weekend and jeopardize the health of the vulnerable in society.

Lockdown is a crude tool but for whatever reason the government have not put in an effective test track and trace system so it is the only option.

Climate change is real, and in any case a transition to more efficient and sustainable renewable energy production is a good thing. It is progress.