Member Info for mrc_mrc_mrc_mrd

Romaron - I think these types of companies are not what they once were. Time was you could get a nice run up just on speculation by inexperienced investors. The young guys are all off gambling on virtual coins and cartoons on the blockchain. If £900 million is needed then I just can’t see that happening, particularly while the U.K. is a hostile environment. Nobody wants to be the first to try and get a big project through…particularly the big names.

People won’t even buy a cash machine like ENQ.

XEL was I think my first share purchase. The company I worked for was part of the alliance, and we got a presentation from the BOD. I think I invested about £500 and watched it go to zero. It’s been interesting to watch the other popular retail stocks like HUR and Sirius and see the folly.

I was invested in PMG who have a lot of oil proved up and 100% owned in Perth. CNOOC were very keen to tie it back to Scott but I think the timing has not worked for that one. Also i see Tom cross (ex Dana) as a bit of an AB character. No interest for bull****ting shareholders and loves a deal. Again he has been unlucky with timing. Also owns 30%. They will survive as they have some cash flow and about £25 million cash, but they need a partner for Perth to really shoot the lights out. It’s one that I will probably buy again if the SP drops a bit, but a frustrating long term hold.

Deltic are a minnow who seem to have good assets (they’ve partnered with shell and cairn), but don’t know much about them.

I don’t trust small companies that bring in ex-BP managers and such. What these small companies need is a deal maker. BP guys are generally very impressive but they are not scrappers.

I have done zero research but…ORCA seems like a bit of an XEL or even a HUR? Asset they can’t afford to develop and a bit of a technology play with the Eor.

I guess they might get lucky like HUR did and get some charitable partner with deep pockets.

SHS - people invest their hard earned based on these projections.

The reason the SP is in the toilet is because only mug punters believes these ridiculous projections. The man in the street knows it is terribly unrealistic to go from what, £3 million EV? To £150 million.

The BOD need to start delivering, or we will be into a viscous cycle of placings and more Sp destruction IMHO.

AB is not a majority shareholder

The BOD have presided over the fall from 2.2p to 0.71p.

A drop of 68% in just under 3 years from the Tom Reynolds and the fighting Fitzpatricks.

If it’s true that Dan put these guys in place then it looks like he has mugged you off again!!

Caddy - I was trying to be fair to the BOD who have (only??!) had 4 years to turn things around.

Dan Maling was involved as a director from august 2016 to say august 2018. In that time the SP only fell 50%. Not a bad track record in comparison!! ;)

SHS - it is not really scalable. The growth is inorganic (relies on buying additional assets at market value). If you claim the rising revenue from high electricity prices then you must also consider that the purchase price in future will be higher.

Your sums are not quite right - remember we took on a substantial loan. Also SCIR only own half of EAG so you can cut that revenue in half. Payback period doesn’t look very enticing once you factor in all of the costs of EAG (not to mention the cash bleeding out of topco).

At best it is a steady business if they ever get to the £150 million Enterprise value that we have been promised (I believe they mentioned a 3-5 year timescale).

That’s good news.

Ithaca are willing to spend $36 per barrel in Capex.

So yeah, our barrels which can be produced without further Capex could be valued at a similar amount.

Not sure how much of our reserves that would cover.

And I guess opex would also play into the value.

Chris - the company is in serious situation and you are flippantly joking about the guy who ran it 4 years ago?

What is wrong with you??

Yes it is obvious that Gneiss need to be shown the door after this 12 month commitment expires.

It is in their interests to drag this out with drip drip funding and lashings of fees. It’s about time the BOD got the boot as well IMHO.

4 years into their reign and we have a name change and a small cow fart factory that doesn’t seem to generate any cash to the topco. Share price destruction from £0.225 to £0.07.

Must be one of the worst performances on AIM?

Thanks Romaron - yes looking at 2023 (only 3.5 million hedges) and 2024 (nothing hedged) it doesn’t look like the requirements are straightforward.

I guess they talk to each other regularly. I also don’t find the wording very clear in the prospectus, so perhaps I misunderstand when they need to have the hedges in place. I guess as you say there will be more detail in the agreement.

Interestingly

8.6 million barrels hedges for 2022.

The requirement is for 60% of net entitlement to be hedged.

So assuming exactly 60% hedged, net entitlement is 39.2kbpd. My guess is low end of guidance minus the barrels that go to BP / Malaysia?

Maybe some accountants could to some better reverse engineering on this.

The hedging requirements are for what is expected to be produced in the next 12/24/36 months. Not saying that ENQ are deliberately underplaying production, but they may have been understandably cautious on production given the problems at the end of last year.

Lol, we had everyone on here screaming last year to hedge in the 60s 70s and 80s. Now we want to let it run when it is I. The 90s?

PIs are dumb AF

I personally think $78 is a rather good hedge considering the ramp we have had this year to date. Enq obviously didn’t panic when Brent dropped to low 60s in December.

$78 is the price Brent started at in the beginning of Jan.

Barclays are all over the place.

Seems like they have given the model to a graduate to play with.

He is a British national treasure Modestus.

He is a sort of magician but he can also get people to believe or do anything he wants.

https://youtu.be/HDtMMsFoHuY

Dear god Chilting, just leave.

Last year you were banging on about the environment and now you seem to have switched your brain off completely and just dribble out this primary school “analysis”.

It seems like his mental health might have been impacted by his poor decisions. Some people are not built to be investors I think

Get a grip Squif

You sound absolutely Mental. Who on earth would pay me to post here? For what end?

Regarding media coverage - it’s funny…seems they wait and see whether the SP is red or blue then come up with a story negative or positive to match.