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When the seismic 3D at Ntorya comes out and it's 5 tcf plus..SCIR sold out for a song.

Crazy deal. Just as first gas and revenues is at the end of the year. What plonkers.

I think it's nuts Scirocco selling out on the cheap just as gas and revenue is about to be produced. First gas December. NT2 flow test being done before then.

Gus, it was a couple of weeks before the interims came out.

Yeah I agree Gus. Seems like they have ticked the boxes for going it alone with project finance and have had the ok to go to the final stage of costing an FPSO and are maximising the market by varying production volumes to give themselves the best chance of getting a redeployed vessel that will save on project costs. Even if they have to reduce production to 15-20kbpd in order to get the FPSO, it's a no brainer as they will be keeping 100% of the production and it will bring the cost of the project down. Maybe the finance have said if you can reduce the costs a bit more and do the Phase 1 development for $500m you 've got the finance. Navitas have been busy improving their costs for Sea Lion and have brought them right down, so I expect our board are also fine tuning the commercial 'sensitivities' for a FID on a finance deal. FPSO is certainly the last thing to get nailed down. I contacted Mr Obee and asked a few questions. He couldn't say much due to obvious commercial confidentiality, but he also said he couldn't reveal anything that might impact on closing out a deal. I didn't think much of it at the time but then thought..why did he mention that? It's either another cryptic comment or me just reading too much into it. Why say that?

Some UK Export Finance a possibility before Labour get in. Rishi needs to give the nod. Done it with Rosebank.

MM's squeezing the bid here to get some sells but there are none. They don't want any buys, hence the spread, as they haven't got any shares.

Looking nasty in the Middle East with war almost certain. Oil supply disruption if Iran gets involved is going to push oil over $100. How far will the US intervene? Their role is defensive against anything Iran and it's proxies do. Global oil security in the balance. Can't see Saudi's opening the taps. Russia are going to make things worse if they can. Time to start developing our own oil and gas for long term energy security and get inflation down and economies to grow.. Falklands really can/should play a part and investment is now important more than ever.

Sells are getting bought as news this month.

Have to wait and see next week. The Middle East is about to blow up, so energy security just got worse. Makes far flung places like the Falklands an even more attractive option. imo

Scirocco Energy (SCIR) announced a Ruvuma transaction update. The divestment of its 25% interest in the Ruvuma asset has been approved by the Tanzanian Minister of Energy and all conditions precedent to the transaction are satisfied. Scirocco and ARA Petroleum Tanzania can now complete the transaction. It cleans up the ownership situation too for Aminex (AEX), whose 25% interest is carried to a maximum gross capital expenditure of US$140 million, which is expected to see the company through to the commencement of commercial gas production from the Ntorya gas field at zero cost to AEX. The Ntorya-2 well test is expected soon, along with a rig contract for the drilling of the Chikumbi-1 well and the workover of Ntorya-1, so there’s a good flow of positive news coming up here.

https://oilman.substack.com/p/oilman-jims-letter-8-october-2023

Some news is gonna drop next week.

They are currently trying to sell enough to get the stock to finish red, but I don't think they can as the ask is quite resistant and they can't have any shares left to sell.

A group who pattern trade AEX shares, buying at a low trading range say 1p and selling at a higher range say 1.15-1.2p. The buys push the price up and then when the top of the range is hit they sell making profit, forcing the price back down to the low range of 1p, and repeat..Only works when there is no news for long periods and low volume.. if they run out of shares on the selling at the top of the cycle and the price hasn't dropped then they either have to rebuy and create a new base or if volume and news is driving the price they can no longer pattern trade and have to find another stock.

They are desperate to stop this rising.. how much have they got left?..not much.

Hopefully pop this pm to 1.3p

Not sure why anyone would wait until the boom in sp starts before buying...you only miss out on the big gains.

Also you cannot blame ARA for not drilling yet while they have been waiting for the licence to be renewed and the FFD licence and the GSA. The fact that the third shipment is a couple of weeks away for drilling tells you that they will expect that all the signing off to be done by then and they can crack on. A rig announcement would also be a major catalyst, apart from all the other things. Should be boom after boom from these levels.

Key word in the interims was to take 'ADVANTAGE' of FPSO vessels available for redeployment. You can't take advantage of something if your'e not in a position to do so.. imo

Going it alone is a good option..we keep 100%.

Lets get some buys rolling..Mr Brimacombe must be close to 10% holding. Maybe a couple of million away from it. If he goes over 10% it will kick start the rise.