Member Info for steve58

I must admit when we had the new board appointed so much was promised.
We are still waiting.
I know timelines regarding tanzanier investments are out of there control.

To achieve so little in four years is a disgrace to say the least.

The fact that millions in feed and other costs have been spent to achieve so little is even more disgraceful.

Four trades today totalling £95.

The directors must be confident.

Morning Chris.
Needs something on here to smile about.
Last share certificate I had wad about 30 years ago a company called ferranti. Lost £6k on that one.
Hope it's not a bad omen.
Have a good day.

Man goes to his doctors.

Says have you got anything for depression.

Doctor gives him a scirocco share certificate.

Tells him to take a look at it three times a day for a week.

You will certainly get depressed.

Get my drift.

Absolutely no confidence here.
The board are completely oblivious to everything.
Been a few months since any worthwhile news.

.50p to sell.

What a joke.

Evening Chris.

Another non eventful day here.

Regarding DR he is our chief operating officer.

Must go now can't stop laughing.

Maybe some seismic news soon.

Have a good evening.

Probably feasible as long as oil price stays high.

Just need another party to pay for the drilling costs for a percentage of any take.

Basically the only way to acquire an oil asset cheaper would be to go into partnership with an explorer and redrill a shut in well.
Won't happen after the buffalo disappointed.
Maybe just buy a small percentage of a producing well if the company owning it needs cash for some reason.

Hopefully one can be done sooner than later.
With oil at current prices the cash flow would be very good. Even 100 barrels a day would bring in nearly £4 million gross.
To think Buffalo flowing at 10000 barrels a day would have been nearly £200 million gross for our 50% share.
If only.

Looked up financials.

Turnover 2020 accounts $3.95 million us dollars.

Turnover 2019 accounts $673,000 us dollars.

Very tempting to buy some shares of the liquidator at the right price.

If I read it right the liquidator holds the shares until they can be sold.

I am hoping that nxt have an ipo and shares are about $2 so about £1 million.

That would mean a payout of about .0035p per share or about £350 for every million shares held.

If I had more money I'd do the same.

GL.

At the current oil price we may even be able to sell our share of the licence to an interested party.

Even a few million would be helpful for future deals.

I would think the licence would have been for a few months at least and would not just be stopped but just not renewed. I wouldn't think the government would give a refund for early relinquishing of the licence.
I would therefore assume that the licence is still owned but no drilling etc is being carried out so who knows.

Oil has gone up over $40 a barrel since the buffalo disappointment. Maybe the board are thinking the same thing. $20 million is nothing to an oil major. Maybe the thought of a $500 million payday get one of them interested.

My thoughts entirely see my previous post.

With oil at $130 a barrel any deal they may do will be getting more expensive to complete.

Not even worth thinking about what might have been had buffalo come good.
Does make you wonder if worth sidetracking.

Even 5 million barrels at $100 a barrel may be worthwhile. Maybe a partner could do the same as what we did. They have 50% and we have a free carry.

Good Evening Frank and Chris.
Very tempting to get in at this low price.
It's just how long it stays this low for.
If my other investment ticks up a bit I may just do that.

Been here 10 years.

Absolute farce.

Dropping sp daily.

Looks like sub .50p soon.

What makes it even worse is we were consolidated 1 to 20 a few years back.

We have a board of three that imo one person could do working a couple of hours a month.

Bad show all round.

Have been informed that the members voluntary liquidation is still going ahead.
The shares in nxt can then be held by the liquidator until such a time they can be sold and proceeds distributed to shareholders.