Member Info for mrc_mrc_mrc_mrd

There is a real risk now that this is the curtain call for SCIR and shareholders could lose the lot.

I didn’t catch the AGM but hopefully they will post it on the website.

Prolific don’t have any shares as far as we know so they wouldn’t be able to vote.

44 - the BOD can’t pull out of the deal. Even if they did there is now no chance of funding the drill.

As I have said all along they needed to have funding in place as soon as they knew the forward work programme.

SCIR been living on the never never for far too long. Time the BOD are forced to live within their means.

Remember they get them at the average deal price for the last 7 days or what not. So they are getting. To buy below the midpoint. You are right though that there seems little opportunity to sell at a profit given the constant decline.

if you are cynical you could join the dots and consider that it might be beneficial to someone to have a very low and declining SP. Every tranche needs to be sold which feeds the spiral down. If you wanted to force a fire sale of an asset then you might be willing to take a small loss on the loan.

Somebody wanted prolific to have some cheap shares?

You are 100% right Highland…no need to dilute with prolific if things are as rosy as the BOD claim. Perhaps they need the cash for Ruvuma after all?

The loan from WEN or A another wont be coming in until the actual buyer is confirmed. SCIR really need that to be resolved quickly, but TIA man so I wouldn’t bet on it!! Maybe BOD wanted cash to limp along for a few months and meet cash calls? Just hoping that TPDC don’t tarry too long!

Never a good headline to read

https://www.marketwatch.com/story/scirocco-energy-in-default-of-prolific-basins-investment-loan-after-resolutions-fail-271659529941

Looks like they will have to now Aimster. Naughty shareholders mean the loan is being called in.

No agenda here Aimster…Our own BOD are ringing the alarm bells about resolution 5. Sounds from the RNS like shareholders are now hammering the final nails in the coffin.

Aimster - some transparency earlier would have been better. This Arrogant BOD have had to be dragged kicking and screaming.

Better that the company goes under IMHO than pay these guys another penny!!!!!

Looks like peeps are trying to get out IMHO - just looking at the recent trades.

TR will be absolutely reeking of Feces IMHO.

I have actually felt physically Unwell listening to his gas lighting.

A balanced view does not make me unhappy. And no I am not invested, and have no intention to anytime soon - you may have noted my concerns about Yesterdays RNS.

I’m glad that you all are making a paper profit. I just doubt this MC is sustainable with out substantial news to back it up.

Yes in fantasy land the deal is with WEN and you ignore the Petroleum act and JV agreement.

You need to educate yourself Aimster.

If Keir wins the next election based on a centrist position then he can ignore the lunatic half of his party in Government. I’m pretty sure the realities of energy security would also impact what they actually do in power.

Well the only mention of EPL is in regard to taking advantage of the allowances. My assumption is that for a company that is investing the EPL impact is minimal. The U.K. is still a relatively low tax environment for oil and gas producers.

AB will have a better feel for what the actual mood is among the elite.

We just need another year of high oil prices and a medium sized capital project will be quite manageable, even with a dividend.

SCIR can’t afford a protracted legal battle to get out of this deal / agree damages. One Question that should be asked of TR - is there a get out clause and what is the impact.

As far as we have been told there is no way out. I also think it would be a very bad idea to welch on the deal at this point.

IC pump and dump by the smell of it.

Market cap looks a bit steep at £82m.

GPA looks to be dead in the water. Partner needed for skerryvore. Platypus relinquished.

Cash backing up maybe £32m of the MC. So £50m of fluff.

Actually Steve there is something. It’s called a binding agreement.

The asset is gone. Time to move on and try to salvage something from this mess.

I don’t think he would mention “ increase production” unless he is planning a big project. Little tie backs and infill drilling can only go so far. We have Bentley and Bressay 2C ready to go so as long as the economics work I expect them to be developed.

SRS - why not address negative comments rather than post BS about individuals?