Member Info for mrc_mrc_mrc_mrd

AA - yes you have been very quiet. Licking your wounds no doubt after I called this shambles so beautifully, lol. Did you vote against the deal? Or still living TR?

Gents - I have repeatedly stated my motivations for posting here.

SCIR are currently a very risky investment. I would avoid encouraging buyers if I were you.

The SP could go up from here but it’s a huge gamble IMHO.

AA - ENQ are unexpectedly great value at the moment. Worth loading up there IMHO. Hope you were able to buy when I recommended them to you at 11p. I remember Perkins was sniffing about at 17p but got greedy thinking it would get cheaper.

I can’t fault your intent BD. You have always played this pretty straight I think.

My view is that it’s all over. Best case start again with a new BOD and a new business. Existing shareholders will be all but wiped out, but at least the incumbents will not continue milking their teets.

Would you agree that there is zero chance of retaining Ruvuma now? We have a hardcore on here of naïve, ignorant, or duplicitous characters touting some miraculous turn around. I think they are misleading would be buyers.

Banana - Are you Swedish? Romaron posts are good humoured…just wondering if that subtlety is lost in translation for you?

AA - This company is doing brilliant job of making itself very little indeed!!

It doesn’t give me problems AA

I’m just trying to provide information.

If you believe that Ruvuma can be retained then you are a fool.

You need a 10 bagger just to get back to where the BOD started out at 4 years ago.

Looking also at another 25% dilution for prolific conversion at todays price.

Ahh so you will be holding to liquidation then Aimster?

There are always a few. Seen this so many times now.

Anyone with any sense exited after the vote went against BD I suppose.

It’s game over I’m afraid.

Rinse the company? What are you on about Big Pat?

It’s over mate. Your pal Perkins sold you a nice story and he has now sailed off into the sunset.

Gents you are living in a fantasy world. It makes no difference who owns SCIR. The fact is that the company has signed a binding contract.

I guess your game is to try and get one last pump and dump going? Utterly disgraceful.

Aimster - of course someone can make an offer for SCIR, but they would not get Ruvuma unless the deal falls through somehow.

Any games like that by WEN or anyone else would put their Tanz future on very shaky ground. TPDC would not take well to having the rug pulled from under them.

Correct Steve. They have committed to the sale.

If a bid for $30m had come in before the shareholders voted to accept WEN offer then obviously that would have been a different situation.

It’s natural to hope for some other way out of this, but it is a vain hope IMHO.

Steve - WENs offer has been accepted by SCIR.

They can’t now gazump TPDC and ARA as I guess you are proposing.

Steve - not sure where you think a better deal is coming from? WEN we’re the only party to show interest in the 4 years the asset has been on the market…

The deal is done. Best to face up to that IMHO.

The BOD will need dragging out IMHO. These guys are utterly shameless.

My opinion is that we are now past the point where the business can be salvaged. Winding up and returning some money to SH may be the best option. The only other viable option I see is a complete recapitalisation. Neither good for shareholders but the alternative is more of the same value destruction IMHO.

Lol, well AEX have only lost 70% of their value in the last 5 years. The SCIR BOD have achieved a whopping 95% destruction!!

And they think they have done a great job!!

I think they need to go back to day 1 of being a director school. Bunch of plum puddings.

I wonder if PMG could be in line for Taqas Dutch portfolio. It would mean having operated assets. Control of own destiny.

https://www.spglobal.com/commodityinsights/en/market-insights/latest-news/oil/070522-uaes-taqa-to-sell-dutch-upstream-assets-amid-strategic-review

Steve - that is probably the worst part of all this. The inability of the BOD to accept responsibility. Blaming shareholders for their god awful communication and decisions.

I hope BD can put an end to this lot at the GM

Highland - you would think after 4 years and a disaster out SP decline they might have recalibrated!

I think you are too generous. I think they know exactly what they are doing.

44 - it is an academic question really. We agree they will not pull out - IMHO neither would any new BOD installed by BD in the near future.