Member Info for ShouldveSold

What about "It I was a Barrister who would I sue" debate?

Anyone up for a deep dive into contract law, licence renewal precedence & a "what would I do if I was Ferreira" hypothetical discussion tomorrow?

Its my understanding that as yet, no company has made an offer of $20M for Ruvuma or any offer at all. We might be stuck with it all the way up to 2025. And that might suck right now. But in 2025 if the Wells are producing by then. We will all be happy & look back at these awful years as hard time served which has paid off.

*I look at the HE1 investment as; its just bought SCIR a £1.2M business. Even with a non commercial result, we already have got a return which will provide immediate & future income.
With a commercial discovery; depending on size, it may provide even more cash for SCIR to spend on growing the business.

*of course the deal may not go through & SCIR could face legal costs*

I thought Scir had a couple of board seats on HE1 but on their website, I don't know any of the names on the Directors tab.
Did Scir surrender board seats with the conversion process to equity?

DM over at HE1 continues to impress me. His enthusiasm, drive & knowledge coupled with his excitable desire to be on the front line to call the shots is infectious.
Thats someone who has passion about what he believes in. Any futher deal Scir could do with HE1 is mint in my opinion. Scir would do well to land him as a director or consultant & I think could learn so much from how he runs HE1 and how well he communicates.

I'm actually looking at this as a blessing in disguise. And CEG could take this opportunity to walk away from the Bahamas completely. Whether this was engineered or its circumstantial; it presents the option.
Personally I think CEG should of allowed those licences to expire anyway, regardless of how much money has been spent.
CEG chose to re-explore acreage that oil majors had already swept. The decision hasn't worked out. The Capex isn't recoverable by spending more on the Bahamas licences. Its a bitter pill for some to swallow but CEG have to accept the consequences of that pursuit.
I suspect CEG will have to pay the monies owed regardless & I suspect those funds will come from shareholders.

Lol you're right

This time in 2036 Rodney, we'll be millionaires :)

Just quickly browsed a recent WEN RNS and it looks like the Tanz gov has no issue paying monies owed.
I don't know whether they have a particular gripe with AEX or if WEN have gone through the licences issues way before & have come through the other end with mature assets.
It does give me a glimmer of hope that this will eventually come good.
I don't know anything about WEN to be honest but a deal seems like it would make sense just on geographical merit.

Tanz certainly is providing evidence that its a commodity hot zone.
I've just remembered NR leaking a little nugget about an oil discovery at Likondi which the operator at the time didn't want anyone to know about.
It just sucks that the government work the way they do. It stifles any progress.

Lol

Well if they couldn't find a buyer at £20M, I doubt companies will now be willing to pay £30M. Maybe in late 2024 there will be a bidding war to.
Until then, I'm focusing on the AD deal & success at HE1.

Expectations & the Tanz Government are like two opposing forces lol. I'm not going to take any notice of this news.
I've just checked the 9th July is a Friday. So maybe news the following week on decision making and deal inking.
So first cash inflows maybe in August?

Has any body in the area seen 3 structurally reinforced weighted down Mini's leaving the site at high speed?

Be interesting to see if a broker note is issued on the back of that news & a price target which matches the larger asset resource.
Anyway Tanz is Tanz, I can't waste any energy complain about the Government having Scir in a choke hold.
I just want this AD done so some cash can start to roll in.

Wow that's a monster upgrade to gas in place :D

Drilling pushed back a further 6 months sucks though. Well its not as if any of us can go anywhere LOL whats another 6 months to 10 year sentence.

At some point I would love to see a "boots on the ground" walk-through of the Greenan plant; just for scale.
I want to know whether Scir are buying a Laboratory with 4 scientists, or whether this is plant run by 40 people, including machinery for 24hr production.
Are the GGL figures available anywhere so we can see what the costs of running the business currently are?

In light of the recent onshore/offshore licence news; I am hoping My Riley's Board appointment will be leveraged here. That will probably require additional funds but that discussion is for another time.

Druid in my opinion this news is akin to the Bahamas Government starting a sovereign wealth fund & the market reading that as BPC had made a commercial discovery.

As yet there is no company issued news that a discovery larger than what has previously been announced has been made.

Unless logging has been completed and inital figures have been leaked/communicated. I presume logging hasn't started yet & Flow test results are 2 weeks away.

If Motley Fool's note was an attempt to halt the SP momentum, it did its job for one day. Investors are still loading up for a possible commercial discovery.
I am surprised at the disconnect. HE1 increasing is having zero effect on Scir's. I am puzzled.