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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.
I’ve 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 yesterday’s news that Enquest is bidding for Exxon producing assets in Malaysia.
The news reenergised a debate about the wisdom of Enquest pursuing ‘end of life assets’.
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, “what they say on the tin”! 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 Enquest’s first ‘purpose’ statement from 2010. “EnQuest 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 ‘shiny new things’ route to success – 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 today’s 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 don’t 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, ‘A’ could have been any oil company. Congratulations to Enquest and Cairn Energy for clarity of purpose.
If I posted Shell’s statement, “We aim to meet the world’s growing need for more and cleaner energy solutions in ways that are economically, environmentally and socially responsible”, I would have added Saint Theresa to the list of possible answers. (Check out Shell’s 2014 statement to see how times have changed.)
Rules: As to the breakage of the first rule – a positive stampede once released ‘from the gate’ 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 ‘self-isolation’ . 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, ‘Do you know your company?’
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, I’ll list four company names.
Premier Oil
Cairn Energy
Enquest
Royal Dutch Shell
Match a company to each statement ‘A’, ‘B’ and ‘C’
Company A
To play our role in meeting the world’s 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
‘Our’ 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, ‘We are’ 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 ‘search engines’ – this is not a test of your ability to use google. It is a test on whether you know your oil company.