Member Info for ShouldveSold

Not to be a downer mr_q but I am remaining realistic.

Out of the initial £3M, outstanding deferred board salaries will need to be settled. How much will be left over who knows? I guess if Scirocco want to disclose that, they will.

Scirocco may have to wait for the 2nd installment before any advancement or purchases can be made.

Scir haven't informed the market yet on when it will be cash flow positive or what business it needs to buy before it starts generating enough cash to become profitable by what year.....

Receiving £6M in 2 tranches from the Ruvuma sale won't turn this company around to becoming an overnight success.

It certainly looks favourable for a quick trade.

Geeez this has been like pulling fingernails.

Great news has finally arrived, I was expecting many more extentions. Hopefully the sale funds will be received swiftly & leap out of this train wreck.

Today's interim results have made it clear to me that this AD business will not grow or advance the company in any way. Even by stacking/daisy chaining with bio fertiliser sales. What is required for that to happens is a sustained elevated price of energy, a plant running optimally 100% of the time and low cost feed stock.

The likelihood of all 3 of those things being concurrent at the same time is unlikely in my opinion. Maybe during a really cold period or a geopolitical event which raises the cost of energy.

Even without the Gneiss retainer, this new business model runs at a loss.

Scirocco hasn't outlined in any way how many plants or what level of operation is required to hit breakeven or even becoming cash flow positive.

Wouldn't surprise me of the Tanz Gov switch to giving 2 week Long Stop extentions to take us into the new year.

Hard to believe that the desl was ready to complete from Scirocco's end a year ago and still the deal hasn't been completed.

I hope so Maverick, it would be the best news Scirocco has issued in the last 10 years lol. Although I fear the Tanz gov will postpone the sale until the Pan African pipeline is finished in 2034.

Lots of negative forecasting comments today. Seems like Well failure has already been predicted.

I am not a geologist or well services engineer so I wouldn't have a clue. But it's interesting to read the technical info.

I think it would mean more to me had the well data been interpreted by the posters here who clearly know what they are talkng about.

I can only assume that the teams of both AME & UKOG know what they are doing or at least are working with people who do. And so we wait, for maybe another 4 months for a progess update.

Well well well, look at that. Some news lol

It does make me wonder what the board are doing whilst the stalemate continues.

Do they even go into the office or do they just work at their other jobs or spend time on allotments growing vegetables lol.

Yes lol

I was making reference to NR becoming chair of NFI lol

Can't say I understand the tech or know enough about Wind Turbines to have an educated opinion. But I think if the energy majors aren't investing, that means it isn't profitable, even as tax incentive. If governments around the world aren't building them in suitable locations, that tells me all I need to know.

The tech seems to be more about optics and being seen to at least make an effort to do something 'green', rather than it being a viable source of energy.

It wouldn't surprise me of Scirocco did a deal with NR's new company and come full circle by turning back into an investment vehicle company and giving NR all the proceeds from Ruvuma to develop a more efficient fan.

I am quite excited that in a matter of weeks I might be able to walk away from Scirocco forever with a mitigated acceptable loss lol.

Zero bids for wind farms? Lol

Surely that leaves the door open for Scir to own the space and build lots of non profitable fans.

Oh crap Skwizz, they are going to fry you for that post the same way they fried me lol.

Well I'm glad to hear it sshnookems :)

Cashinme, I have previously made comments about not understanding averaging down in a company one had lost faith in, which wasn't received well.

I don't know whether you had lost faith pre-Loxley challenge or whether it's been in recent weeks/months. Either way, evidently "averaging down" hasn't had the effect you were hoping for just yet. Those additional funds you kept investing into UKOG may have earned you more money or at least prevented you losing more money by investing in a dividend paying stock instead, but alas. We are all free to invest money wherever we want.

Vernonya, I wouldn't advise switching teams now as you will upset the balance of this board & you will get lots of negative comments for being my new investing sidekick.

I can handle the personal comments.

Pick any AIM stock & you will see similar person attacks from investors who have lost more than they could afford to lose and they are now emotionally attached to that stock believing other investors are out to get their money that has already been lost. You won't find any such comments on a ftse100 company board.

As for UKOG, when there is news, there is news. Until then, just trade some other stocks or sit back & wait. After all, that is what investing is about, sitting back and earning a passive income.

The perf guns will eventually arrive or they won't & Pin1 will eventually flow or it wont. PPP will eventually become a JV partner in HH and drill new Wells or they won't. Invest in some other stocks & spread your risk.

Cashinme, I get the impression that you have invested way more than you can ever forgive yourself for.

Its happened to us all at some point and its just one of those lessons that you have to go through to learn how to make better, less speculative and more calculated investing decisions.

As for the CEO, the last time I saw him communicate directly with Shareholders or even the public was on the BBC about the 100B barrel discovery lol. So I agree that his style of management & commitment to communicate leaves a lot to be desired. I get the impression that he is embarrassed and will only communicate when a commerical discovery is made.

In my opinion UKOG got way ahead of themselves and started buying licences with the assumption that every one of those licences would flow commerically and all be connected in some way to the data research. If they all had, UKOG would be a monster company and all the early investors would be millionaires. I'm sure that is what everyone thought would happen. Sadly, the local geology has other ideas.

But this is par for the course with oil exploration and getting frustrated when companies don't find the oil that the data says could be present is self punishment. One would be better off investing £50 a month accumulating shares of BP or another dividend paying oil major in my opinion. Ok so that won't lead to making millions but it will protect you from loosing thousands.

Vernonya my good fellow, there is no expectation from me as every site user has the option to filter me.

As you may also choose to acknowledge or ignore, my reply was to Cashinme. It was a UKOG based reply to a UKOG based post.

For penguins to then join that thread to make it personal to speak on behalf of Cashinme or any other investor defensively is to squabble. People here can speak for themselves. For you to also join the thread with nothing but a personal comment is clear.

As we have all seen, I can squabble. But it doesn't make for a pleasant read.

As for your simile and the way you use punctuation..... :S

Whatever this question is about, I'm sure if you scroll to at least page 36 of my posting history, there will be something to copy & paste from a completely different company to use as an answer.

Based on previous interactions, I made the decision maybe 10 days ago to mostly skip past and no longer read anything penguins posts; no offense meant.

It's understandable that was read as a one time use on one thread. But it was applied to all future comments. Hope this helps with time management going forward.

:)