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Martinen - so as an activist investor you would force the company to do what they have already said they are doing?
And you would pull money out of the company now even though that is likely to be viewed as irresponsible by the market given our liabilities?
Perhaps you made a badly timed purchase?
Well done, I enjoyed that
A special dividend for each milestone payment would return millions to shareholders. Meantime reduce costs to a bare minimum admin cost, get rid of expensive directors, and try to sell off the AD business before voluntary liquidation. Best chance for anyone to get some money back IMHO.
Well there is a large sum of money coming in. We know SCIR is very expensive to run. Why not distribute monies to shareholders? “Investments” to date seem to have been designed to maximise consultancy and directors fees?
Best chance for investors to receive any sort of return IMHO.
Whatever happened to BD and his investor action group?
These lot have utter contempt for PIs
They are laughing all the way to the bank with your hard earned in my opinion
Hi Steve,
Surely we will receive $3m minus $0.7m.
And also subtract another $0.7m for cash burn this year.
So maybe we receive zero on completion assuming that Gneiss fee will be at least 10%
SHS - SCIR have stated that they have drawn funds from the loan that ARA made available as part of the deal.
Monies used to meet Ruvuma cash calls should be offset, however SCIR have stated that some of this money has been drawn for general spending. This will need to be deducted from any monies due at completion. We have no idea how much this is, but could be substantial IMHO.
I expect Gneiss will get their fee upfront rather than as milestone payments. I’m expecting between $1.5m and $3m.
Taken together these could wipe out the completion payment.
Anyone know how much we will be paying Gneiss?
Anyone know how much we owe ARA?
AA - I believe the cost of living is hitting BT hard. He is now trading on the side to pay for children’s clothing. It’s the dirty Tories doing as I understand it.
Another P&D incoming?
GE drilling
https://www.energyvoice.com/oilandgas/north-sea/522634/shelf-bags-13m-north-sea-drilling-work-with-cnooc/
Https://www.nstauthority.co.uk/news-publications/news/2023/north-sea-gas-is-almost-four-times-cleaner-than-imports/#:~:text=North%20Sea%20gas%20is%20significantly,Sea%20Transition%20Authority%20(NSTA).
In theory there is £60m of tax savings, however I would imagine the rest of the business would weigh on that as a valuation. Does anyone really want farmland, a couple of wind turbines, and a tiny producing asset in the Netherlands? Disposal of these “assets” will be time consuming and expensive.
Also if Labour get in then these tax losses become worthless…
Lol, great input. Bravo.
I suggest you re-read the RNS before you invest!!
Runner - yeah if you ignore the decomm cost projections for this year…
Still over priced here in my view given funding is required.
Indeed…requires faith to ignore evidence of poor governance…
And there we have it…4 posts (pointless personal abuse, adding zero value) from the BOD lovers to bury your very valid questions and observations…
You are wasting your time black gold…the 3 posters you are engaging with are BOD stooges IMHO. They won’t allow any normal discussion unfold.
For what it’s worth I don’t think you are far wrong. It is SCIRs responsibility to have cash on hand to pay bills as they come due. We are in the ludicrous position where we are racking up debt with the counterparty…