Scirocco Energy Share Discussion Threads

[tomboyb] 27/11/2023 15:32

Back in today -

Maybe due further monies before year end -

[manual dexterity] 27/11/2023 11:03

Last month.

In accordance with the SPA, Scirocco has received the balance of completion payment consideration of $2.54 million (equivalent to $3.0 million completion payment less the $0.5 million advance received following signature as well as contractual adjustments). The cash call loan facility provided by APT and used by Scirocco to fund cash calls during the interim period has also been fully settled by completion and Scirocco has no ongoing associated liability.



Following completion Scirocco will be entitled to receive a series of contingent payments which depend on progress on the development activity of Ruvuma:



· US$3 million payable upon Final Investment Decision (FID) being by the parties to the Ruvuma Asset Production Sharing Agreement or the JOA as the case may be. Given the progress made on the development to date, with first gas being targeted for December 2023, Scirocco is confident of receiving this payment later in 2023.

· Up to US$8 million payable in the form of a 25% net revenue share from the point when Ruvuma commences delivery of gas to the gas buyer. These payments will be made following the sale of gas has commenced and based on the current development timeline are estimated to commence in Q1 2024.

· Contingent consideration of US$2 million payable on gross production reaching a level equal to or greater than 50 Bcf. This will require consistent production over a period of time from the licence and is unlikely to be payable before 2025 at the earliest.

[barony] 10/11/2023 17:48

Interesting ~20% rise. Why?

[westendwinston] 17/10/2023 02:14

Watch all the snouts come out for a feast now!! Keep eye on that Gneiss gizz - bet they take a slug

[barony] 16/10/2023 16:46

20% doesn’t seem enough when there is money in the bank, so much more to come and a line of profit generating opportunities almost guaranteed.

[tomboyb] 16/10/2023 13:46

Got to worth a small punt at these levels -

Looking for 0.70p -

[barony] 02/10/2023 12:33

Yeah! Cash soon and the investments we need to generate more revenue and profits.

[tomboyb] 02/10/2023 07:09

Scirocco Energy PLC Ruvuma Transaction Update (2662O)
02/10/2023 7:00am
UK Regulatory (RNS & others)

Scirocco Energy (LSE:SCIR)
Intraday Stock Chart

Monday 2 October 2023

Click Here for more Scirocco Energy Charts.
TIDMSCIR

RNS Number : 2662O

Scirocco Energy PLC

02 October 2023

2 October 2023

Scirocco Energy plc

("Scirocco" or the "Company")

Ruvuma Transaction Update - Ministerial Approval Received

Scirocco Energy plc (AIM: SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, today announces an update on the Ruvuma transaction.

Scirocco is pleased to announce that the divestment of its 25% interest in the Ruvuma asset has been approved by the Tanzanian Minister of Energy. With this approval now received, all conditions precedent to the transaction are satisfied and Scirocco and its counterparty, ARA Petroleum Tanzania, can now proceed to complete the transaction in the coming weeks.

Commenting on the update, CEO Tom Reynolds said:

"Ministerial approval brings us one step closer to the impending completion of this transformative transaction, and we are grateful to the Tanzanian authorities for their support. This is a watershed moment for the Company that completes Scirocco's evolution from an investor in diverse hydrocarbon assets into an investor into cash-generative assets within the European sustainable energy and circular economy markets. We see a broad range of opportunities in these markets providing scope for low-risk, sustainable returns. We look forward to announcing completion of this long-awaited divestment in the coming weeks."

For further information:

[medusala] 07/9/2023 17:40

Yep - blue sky Gneiss

[westendwinston] 02/9/2023 08:33

I bet final approval is delayed. And they want more free moneyNothing easy in Tanzania

[barony] 29/8/2023 08:32

Come on Tanzania Gov, extract the digit!

[westendwinston] 21/8/2023 02:36

Board are morons. Dunny them all

[barony] 09/8/2023 17:50

I’m annoyed that I couldn’t vote with the board today as my shares are in sipp and isas! I think it is short sighted not to have voted for resolution 6, 7 & 8. I believe there is a choice morsel waiting for the board to leap at right now, which is why they don’t want to wait for the Ruvuma cash.

[tomboyb] 09/8/2023 09:38

You can still sell at a large premium -

news due this month on monies -

[tomboyb] 07/8/2023 07:55

blue day today? -

Lets see -

[manual dexterity] 05/8/2023 13:44

It will be interesting to see what transpires from here.

[barony] 04/8/2023 16:07

That’s more like it and, I believe, well overdue!

[tomboyb] 04/8/2023 16:04

Going further up -

[tomboyb] 04/8/2023 15:51

1.7mill buy -

[tomboyb] 04/8/2023 15:21

1p probably my target medium term -

"controlled rise"

[c31161] 04/8/2023 15:14

I need 25p to get my money back lol

[tomboyb] 04/8/2023 15:09

375k max online at 0.5976p -