Scirocco Energy Share Discussion Threads

[manual dexterity] 06/12/2022 14:13

Investor presentation Tomorrow.

Market Makers have 1million max at 0.2615p. So not a lot of stock available.

[manual dexterity] 06/12/2022 08:50

I don't think there are too many sellers at this level as the current transaction would be worth well in excess of 1p+.

That excludes all other investments and current cash.

[manual dexterity] 06/12/2022 08:48

Scirocco Energy moves closer to completing Ruvuma divestment

Jamie Ashcroft
08:33 Tue 06 Dec 2022

Scirocco Energy PLC (AIM:SCIR) told investors it has taken a step closer to divesting its stake in the Ruvuma asset, though the company repeated that it expects it's more likely that the sale will now close in the first quarter of 2023.

The company, in a statement, said that Tanzanian watchdog the Fair Competition Commission (FCC) has now granted unconditional approval for the proposed transaction, and, described this as “an important step towards completion”.

[manual dexterity] 06/12/2022 07:33

Unconditional approval granted so It will go ahead. Caveat is a delay till Q1. On this transaction alone, 1.4p+ if all milestones reached.

[manual dexterity] 06/12/2022 07:30

Scirocco Energy PLC Ruvuma Divestment Update
06/12/2022 7:00am
UK Regulatory (RNS & others)

Scirocco Energy (LSE:SCIR)
Intraday Stock Chart

Tuesday 6 December 2022

Click Here for more Scirocco Energy Charts.
TIDMSCIR

RNS Number : 6731I

Scirocco Energy PLC

06 December 2022

6 December 2022

Scirocco Energy plc

("Scirocco" or the "Company")

Ruvuma Divestment Update

Scirocco (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, is pleased to provide an update on the divestment of the Ruvuma asset, where Scirocco has entered into an agreement to sell its 25% interest to ARA Petroleum Tanzania ("APT").

The Tanzanian Fair Competition Commission ("FCC") has now granted its unconditional approval for the transaction and issued the Company with the Merger Clearance Certificate. The issuance of the certificate is an important step towards completion of the asset divestment.

The Company continues to engage with stakeholders across the Tanzanian government agencies whose approval is required as part of the completion process. The Board now considers it more likely that completion will be achieved in Q1 2023 rather than December 2022 as previously guided, due to likely disruption around the upcoming festive period.

The Company remains in discussions with all stakeholder groups and will continue to provide updates to the market accordingly.

Tom Reynolds, Scirocco's CEO commented:

" We are pleased to report this positive development today as we progress towards the completion of the divestment of Scirocco's interest in Ruvuma to APT. We continue to work closely with Tanzanian authorities and counterparties and look forward to completing the transaction in Q1 2023."

For further information:


Scirocco Energy plc
Tom Reynolds, CEO [phone]
Doug Rycroft, COO 5000

Strand Hanson Limited, Nominated Adviser
Ritchie Balmer / James Spinney / Robert [phone]
Collins 3494

WH Ireland Limited, Broker [phone]
Harry Ansell / Katy Mitchell 1666

Buchanan, Financial PR [phone]
Ben Romney / Jon Krinks 5000

[manual dexterity] 05/12/2022 15:51

Well, its an interesting conundrum. Cash of £1mill in June + He1 around 400k to-to-date. $16million in "total" consideration for Rumuva and a new strategy in Green tech and Biogas with EAG. Market cap of £2.1mill you could take the whole thing over, but I've no idea on it.

[barony] 05/12/2022 15:46

Thanks MD. Any idea of t/o?

[manual dexterity] 05/12/2022 15:29

Not much trading activity at the moment but more info should be arising from the investor evening this Wednesday.

[manual dexterity] 05/12/2022 11:21

Header Updated. Investor event this wednesday.

[manual dexterity] 05/12/2022 11:09

Disappointing!

[manual dexterity] 05/12/2022 11:06

I'll create a news thread I think.

[barony] 05/12/2022 11:00

Numbers in header could do with an update re t/o, profit etc.

[manual dexterity] 05/12/2022 07:52

Morning. He1 news out today.

[manual dexterity] 01/12/2022 12:17

I'm not surprised this is up. The rumuva deal could be worth well in excess of 1p.

They have moved into the right area. Marechale (MAC) has an investment in future Biogas which looks like an excellent company.

EAG seems to be doing well.

[manual dexterity] 01/12/2022 10:46

From the lse thread.



Europe’s commitment to the biogas and biomethane value chain
Energy
1st December 2022

€83bn to build 5,000 plants
The cost of biomethane production is affordable. Estimations from ADEME, Gas for Climate and ENGIE show it can be produced at a cost of €57 – 66/MWh by 2050. This is especially true considering the current gas prices, which will remain high in the coming months. For the biomethane potential to be fully untapped, the sector needs investments. The EBA estimates that the industry will need €83bn up to 2030 to build 5,000 new plants and reach the 35 bcm target.

[manual dexterity] 01/12/2022 08:41

Good Morning. There is an investor event coming up on the 7th December.

[manual dexterity] 30/11/2022 10:53

State fund targets biogas development
Fund of €1bn earmarked to exploit renewable fuel made from farm waste

New 1 billion euro fund for Biogas out yesterday. SCIR looks like moving into the right area. From the Mac thread BP and Shell now both acquired biogas providers.

[manual dexterity] 29/11/2022 14:53

Shell Buys Nature Energy in $2 Billion Push Into Biogas
Shell buys Danish producer Nature Energy in green push
Oil majors are looking to low-carbon gases to cut emissions
ews/articles/2022-11-28/shell-buys-nature-energy-in-2-billion-push-into-biogas

Yesterdays news. This is quite big ( thanks to MAC board) -

Anaerobic Biogas arena getting bigger.

[manual dexterity] 28/11/2022 10:00

If all milestones are passed then Ruvuma could be worth 1.4p vs 0.24p at the moment. I have a tiny stake here just in case. Scir also has other investments including EMG group which they hold 50%.

[barony] 28/11/2022 09:31

Good progress towards getting our cash. I wonder how much our remaining shares in HE1 will be worth soon too. Might need a re-rate here. Do we have anyone promoting SCIR?

[manual dexterity] 28/11/2022 08:20

Good rns.Could be Worth 1.4pish if exercised in full to scir

[manual dexterity] 25/11/2022 16:15

Ruvuma news. Could be very interesting for next week. AEX is up already.

[manual dexterity] 23/11/2022 12:39

He1 news out today.

[manual dexterity] 22/11/2022 07:31

He1 news out.

[barony] 02/11/2022 09:00

Does this announcement mean that we will start to see cash from apt sooner, rather than later? Think it commits apt to more spend re NT-1, but does that affect us?