Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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romaron, I accept a level of ambiguity could be read into the rule.
But your comment on posting, "Trust you to read the small print." implies you understood a particular interpretation at the time.
Again, interesting stuff for the sociologists. I understand they play these games frequently and some get a Phd for their efforts.
But my focus is on Enquest's stated purpose and how it relates to current activities. My rules were an after thought of little consequence, or so I thought.
Thank you for playing the game.
The rules:
No replies to this post until after 6pm tonight
I thought it meant you were unavailable until after 6pm. What was the point of leaving it until 6pm?
Congratulations!
Every player won. You all know your company, Enquest = C.
Iâve no doubt most understood the intent of the game. Earlier in the week, we heard news that Enquest is involved in the bidding for two producing assets in the North Sea, followed by yesterdayâs news that Enquest is bidding for Exxon producing assets in Malaysia.
The news reenergised a debate about the wisdom of Enquest pursuing âend of life assetsâ.
This is the key phrase from Enquest purpose statement:
"Enquest is focused on enhancing hydrocarbon recovery and extending the useful lives of assets in a profitable and responsible manner."
I am pleased to see Enquest acting out, âwhat they say on the tinâ! Time will prove their effectiveness. In the meantime, this board is a good place to share views, fair but critical. No harm too in criticizing their purpose, but if you disagree entirely. Well!
Incidentally, this is Enquestâs first âpurposeâ statement from 2010. âEnQuest intends to deliver sustainable growth in shareholder value by focusing on exploiting its existing reserves, commercialising and developing discoveries, converting contingent resources into reserves and pursuing selective acquisitions.
Well they tried the âshiny new thingsâ route to success â Alma/Galia, Scotly/Crathes & Kraken. To date they have not been successful ventures, but time still for Kraken to be redeemed.
My investment in Enquest is based on todayâs purpose statement, not 2010.
For anyone wishing to check their answers, I listed the companies in order:
A - Premier Oil
B - Cairn Energy
C - Enquest
The wild card - Royal Dutch Shell
I donât believe in making things more difficult for myself than they need to be. But I wonder how many were influenced by the order in choosing Royal Dutch Shell for A. . Every player picked it. Or did you follow others in that selection. Only you know.
Frankly, âAâ could have been any oil company. Congratulations to Enquest and Cairn Energy for clarity of purpose.
If I posted Shellâs statement, âWe aim to meet the worldâs growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsibleâ, I would have added Saint Theresa to the list of possible answers. (Check out Shellâs 2014 statement to see how times have changed.)
Rules: As to the breakage of the first rule â a positive stampede once released âfrom the gateâ by January2. Safety in numbers? A special shoutout to Therapist for showing restraint.
One for the sociologists to assess.
But in these Covid times with government rules on âself-isolationâ . Well!
A - RDS
B - CNE
C - ENQ
Whilst all are guesses the biggest clue I could take in finding the one for ENQ was looking for the words 'extending the life' or 'end of life'.
A-RDS
B-CNE
C- ENQ
PMO's: Regardless of what they write in the AR I have learned their purpose the hard way as a shareholder: "our business model is to dilute shareholders every now and then until they have been put out of their misery..."
A-RDS
B-CNE
C- ENQ
Trust you to read the small print.
Nice game londoner7,
Just read your post and am answering straight away, from just my feeling which is which.
A -RDS
B-PMO
C-ENQ
Let me know later when others have had a go !
This game is called, âDo you know your company?â
Below are extracts from the latest annual reports of three oil companies, which describe their purpose. Most posters on this board are familiar with these companies, but to make the game a little more challenging than a typical GCSE exam question, Iâll list four company names.
Premier Oil
Cairn Energy
Enquest
Royal Dutch Shell
Match a company to each statement âAâ, âBâ and âCâ
Company A
To play our role in meeting the worldâs energy needs through the safe, reliable and sustainable development of hydrocarbons whilst meeting the needs of society for effective governance and delivering value for our shareholders.
Company B
âOurâ business model is to hold assets within the oil and gas life cycle in order to create, add and deliver value for stakeholders. The cash flow from production assets funds exploration, appraisal and development activity, making the business model largely self-funding. Assets can be monetised at different points of the life cycle in order to optimise the portfolio.
Company C
With hydrocarbons expected to remain a key element of the global energy mix for many years, âWe areâ focused on enhancing hydrocarbon recovery and extending the useful lives of assets in a profitable and responsible manner, helping to fulfil energy demand requirements as part of the transition to a sustainable lower-carbon world
The rules:
No replies to this post until after 6pm tonight
No peeking or âsearch enginesâ â this is not a test of your ability to use google. It is a test on whether you know your oil company.