Member Info for mrc_mrc_mrc_mrd

Bullfrog - I have never said the asset won’t be monetized. The problem is for SCIR that they don’t have the $40 million ++ to fund their end of the development. If they raise that money then existing shareholders will be wiped out by dilution.

The only way shareholders will see a return is with a quick sale. But who has that sort of cash lying around? If they have the cash do they really want to be a minority partner in an asset that has gone nowhere for well over a decade?

AEX should be alright, though I suspect they will need to raise funds again due to delays and cost increases.

Anyone who thinks the project is immune to inflation and supply chain issues is dreaming.

https://www.energyvoice.com/oilandgas/north-sea/west-of-shetland/401642/breaking-ithaca-energy-buys-cambo-operator-siccar-point-in-1-5-billion-deal/

Forgive me Chris but what are the reserves that SCIR have for this project?

Ruvuma is only worth something if it can be developed, or the BOD can convince someone that it will be developed.

Obviously not….doubt even Putin would plan to sacrifice 10s of thousands of troops and provoke the economic war with the west as part of his clever scheme.

They have been completely on the back foot h their propaganda. Pretty sure they thought this would be another Georgia 2008 or Crimea 2014.

Lol Chris - just because you spend money it doesn’t mean you have added value or made something saleable.

You remind me of the sort of bloke that demands as new prices when you sell stuff second hand. pMSL

Lol yes you have been seeing the bigger picture for about the last decade I guess…

And yet the SP continues to fall…

Are you following the super long game? Back to break even by 2045?

Hi AA

If you look at it without emotion you might realise the amount of dilution that would be needed to raise the $40 million ++ required to develop Ruvuma?

Taking any cash from a disposal would be a big win for SCIR.

I expect the BOD will act in their interests and keep the show on the road for lashings of salaries and fees.

That will do for a start :)

AA - ever wonder why they haven’t sold it over the last 6 years that it has been for sale?

AEX sale is not a comparison because that was a strategic stake.

It’s possible they will develop it Frank, but that is the worst outcome IMHO (yes worse than relinquishment). Best case someone charitable comes along and slings is $10 million for all the Tanz assets.

If this BOD have got shareholders in a really sticky situation here. They seem to be doing alright though!!

AA - you just don’t get it do you?

Frank - you have been saying I am wrong for about 2 years I think, and yet…

No danger of drilling this year after the delays to starting seismic. Q2 next year perhaps.

BOD will get another years salary before the Funding runs dry maybe?

Cutting the gas is the only thing that will stop Putin. He can’t quickly re route gas to his friends in other corrupt regimes, and even where he can they will demand discounts.

Gosh it’s hard to keep up with these flip floppers!

Anyone would think they don’t know what they are doing?

Nice slogan, but hopes and dreams are not much of an investment thesis!!

Sorry Chris - I must have missed another new strategy announcement where the BOD is committed to the development of Ruvuma.

As far as I was aware SCIR are now in the dung and rotting vegetable business. With a view to throwing shareholders cash at whatever green initiative will take it!!

We don’t forgive and forget on this board KO

SCIR are a green company Ian. The BOD don’t want anything to do with you dirty frackers!!!

Time was L3 would only drop by with his pearls once a month. Those were the days.

Lol fair enough therapist

I see you have maybe done it anyway with the green kraken.

Hi Therapist

Could you project a trend line out to cover the whole year? That would complete your chart IMHO.