Member Info for mrc_mrc_mrc_mrd

Typically these would be 3-4 weeks for a major campaign but depends what needs to be done. There may also be 3rd party outages which could dictate things (e.g. pipeline maintenance)

Hi Indy,

If we reduce net debt by $300-$450 million then IMHo that should be added directly to equity. That gives you a SP of between 32p and 38p.

Assuming our Capex replaces those reserves.

My view is their is still risk priced in for the short maturity date of the bonds. Once refinanced (hopefully smaller bond at lower rate) I can see the SP re-rating.

Sector Sentiment could also be a massive driver. Still nobody buying NS Oilers. That will change I think.

Some decent exposure here

https://www.ft.com/content/86d9a190-8bac-4963-839e-4434f82da9dd

Last we heard from BTFATH1 was that he was in at 22p and looking to double up.

Seems that must have been another losing trade if he has sold again! We don’t here about the losses of course.

BTFATH1 seems to be an attention seeker.

He was on here at the end of last year wanting to be everyone’s pal, and sympathy for his covid infection.

Seems like he is lashing out now.

Give it a rest Chilting- did you not read the update? 5 new wells this year to stem declines. Very low cost way to do it.

Agree KO - might see this going up later after a shake out / sell on news. Or perhaps in the next few weeks as some bigger players move money around.

Nothing to complain about in there.

Very solid update. Strong 2021 (beating market expectations IMHO in therms of cash generation). Forecast for 2022 conservative but a little growth expected.

Drilling plan is excellent news.

I’m also pleased to see a focus on maintenance. Taking the eye off the ball here is what leads to reliability issues and uncertainty.

Just read the presentation from February 2021 for a start!!

We will see whether any money is realised from Ruvuma. At the moment it is a bit of a liability of you are honest!!

Certainly shareholders have lost a LOT of cash on it!!

It’s the overpromising that I find unforgivable.

Why tout 5 dead if they are not achievable?

It’s a common theme with this BOD. Lots of jam promised, tomorrow.

Frank - after the Weasley way they addressed the 3D seismic funding, do you believe a word Tom says?

E121 - I only mean that it will be perceived by joe public as immoral that we are planning to make so much money. The media portray this as profiting from the destruction of the natural world and the future of our children.

The media and political environment is so toxic towards fossil fuels in the U.K. that it will just put a target on our back (and we haven’t even made the money yet!).

Keir Starmer was on it again with the windfall tax at PMQs today.

SHS - agreed that the ops update is a welcome move.

We were told that there were at least 5 deals ready to go at this time last year. They completed one of them, where have the other 4 disappeared to??

It looks like the AD plant was in worse shape than expected. Hopefully the small increase in revenue will help to cover the extra costs.

They don’t have to give notice to the market of an update (or even provide an update at all). Personally I don’t see the point of tieing yourself to a date if you don’t have to.

Gives them some flexibility if everything happens to kick off that week in terms of operations or commercial activity. I would rather they spent their time on running the business than worrying about meeting a self imposed date.

Mav - the MMS are playing with the SP. Looks like they raised the price this morning to try and draw in buyers.
PIs love to buy high and sell low.

When a couple of £8000 buys or sells are exciting you there is something wrong with you!!!

44rj

The deal will not complete before the drill because it needs government approval..

So even if SCIR have a conditional deal (which they obviously don’t because they would need to inform us), it will not be sold before the drill in Q3

AIMVHO

Sold a dog?

Looks like they have had to replace half the AD plant!! And that is before any serious optimisation.

Doesn’t look like the green as looked after this old girl very well…

They forecast year end net debt in the mid November update so perhaps we will get something.

Not convinced boasting about FCF is a great idea for North Sea oil company. I would rather they give us the usual data and we can figure it out for ourselves.

Well said Kej

All anyone can hope ImHO is that there is a pump and dump and they can offload at a smaller loss. Sadly these P&D events are becoming few and far between, and the highs are getting lower and lower. Too many people know to avoid this (despite best efforts with the rebrand)

Anyone who thinks there is a sustainable business here is crazy IMHO

Not very exciting news. Perhaps a piece of the puzzle.

And better to have money working.

Renewables looks like it is a long term story for PMG. We need the oil and gas business to start going somewhere to make a difference in the SP.

The last 2 years it has been on the 4th of Feb