Scirocco Energy Share Discussion Threads

[gb904150] 10/1/2024 15:25

AEX gas deal signed:


and this is still a better thread given that it has the chart and the news.

[manual dexterity] 10/1/2024 14:53

Some good news. AEX gas deal signed.

[red army] 06/1/2024 21:27

Anyone going to Glasgow meeting??
London would have been easier but I guess they know that

[westendwinston] 06/1/2024 20:45

Time to Fark all these useless carnts off. What an absolute disgrace - and they think they are excellent in business - couldn't get a root in one of our Burnley brothels if they tried. Complete flogs

[manual dexterity] 21/12/2023 14:23

I'm afraid you are correct. This will find ways to pay fees and expenses. I have closed the thread above. You can use it if desired.

[whoppy] 21/12/2023 14:20

Definitely can be voted out now. All they've done is waste time and money and blamed everyone else but themselves. Second rate and will just burn the rest of the cash on more fees. Abysmal performance.

[iceagefarmer] 21/12/2023 10:37

bring back neil ritson

[tomboyb] 21/12/2023 10:00

Around 0.40p in value -

However that will be well into next year -

Nothing is happening with this company -

[red army] 21/12/2023 08:42

Hopefully this will be the case?

-- Following receipt of the first contingent payment of $3 million pursuant to the disposal of the Company's interest in the Ruvuma asset, which is expected later in Q1 2024, and following settlement of SILOF liabilities but prior to run-rate G&A costs, the Company expects to have a pro forma cash balance of c. GBP4 million.

But depends on the run-rate costs

[tomboyb] 18/12/2023 09:35

Some dumping going on -

[tomboyb] 12/12/2023 15:02

1mill left now -

[tomboyb] 08/12/2023 10:11

Overhang slowly being cleared -

[rich2006] 06/12/2023 21:34

Probably because the coffers will be sucked dry by advisers fees and director wages.

[barony] 06/12/2023 09:08

Cash into the coffers, with more to come, and the share price drops? Does not make any sense.

[barony] 04/12/2023 10:55

How about seeing some decent activity by the company???

[manual dexterity] 01/12/2023 11:04

The seller will probably be taken out. Some decent buys now coming into scir.

[barony] 28/11/2023 08:20

Don’t need an expensive Operations Director when you have hardly any operations? Fairnuf.

[tomboyb] 28/11/2023 07:50

Scirocco Energy PLC Management Changes (8296U)
28/11/2023 7:00am
UK Regulatory (RNS & others)

Scirocco Energy (LSE:SCIR)
Intraday Stock Chart

Tuesday 28 November 2023

Click Here for more Scirocco Energy Charts.
TIDMSCIR

RNS Number : 8296U

Scirocco Energy PLC

28 November 2023

28 November 2023

Scirocco Energy plc

("Scirocco Energy" or "the Company")

Management Changes

Scirocco Energy (AIM:SCIR), the AIM investing company targeting attractive assets within the European sustainable energy and circular economy markets, announces that following completion of the divestment of its interest in Ruvuma, as planned, Doug Rycroft has stepped down from his position as COO of Scirocco with immediate effect.

Commenting on the change, CEO Tom Reynolds said:

"As a secondee from Gneiss Energy, which assisted us with the disposal of Ruvuma, Doug has played a critical role in managing Scirocco's interest in Ruvuma since 2018 and overseeing the divestment process. I'd like to thank him for his hard work in assisting that transformative transaction over the line. As we previously communicated to the market, the Board's priority in the near-term is to preserve cash until we land on the next investment and the shrinking of the executive team supports that focus."

For further information:


Scirocco Energy plc [phone]
Tom Reynolds, CEO 5000

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

WH Ireland Limited, Broker +44 (0) 207
Harry Ansell / Katy Mitchell 220 1666

Buchanan, Financial PR [phone]
Ben Romney / Barry Archer / George Pope 5000

[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?