Member Info for mrc_mrc_mrc_mrd

Lol Market looks nervous. So either I read that as “KO is nervous”, or “KO has sold up again and wants the price to drop”

Also there is a lot of dumb / opportunistic money…can see a positive reaction if forecast is to beat 45k. The headline will be Enquest forecasts production increase in 2022.

It silly but that seems to be what drives the short term price action.

I think we will see worst case 48-53k based on 15% natural declines, and zero upside from new drilling. Might be higher if they are confident of getting the assets fixed early doors.

This leaves potentially a lot of upside if they can get Magnus and Malaysia performing well soon.

Vike - there is no deal on the table.

Zubairs have controlling stake which is why AEX got such a good deal. They just need to outspend SCIR.

Sadly that is also why a sale to anyone else is unlikely. None of the big boys want 25% non-operated. And the small guys will face the same problem as SCIR.

I think Kej is probably right. As he has been for years and years.

KO - I see your favourite benchmark TLW is getting a downgrade today from RBC

Some very serious and lengthy correspondences over the weekend. What clever chaps.

All just fag packets until we get Enquest forecasts. Even then we are at the mercy of the global energy prices.

It’s basic stuff big D. The BOD seem to lack basic business skills.

Very good at cutting the cheques to Gneiss and the lads at EAG.

Could be Chris, but you have been posting similar articles for 4 years.

Big D - the BOD have set the asset up for failure by not funding it, and making it quite clear that they don’t want it and can’t afford it.

That’s why I keep saying…get funding in place…commit…and just maybe someone will make a serious offer. As it stands I think we will see this shambles roll on via drip drip, or potentially total loss of the asset if they F up the funding.

Not sure why you think that Chris!

I note that you and your pals were predicting a full sale by the end of last year, or in any case, “imminently!”

I wonder what the next excuse will be? Maybe the failure / delay means that there are even more bidders than you thought?

I do know that there will always be an excuse. Meanwhile your friends at Gneiss are trousering some tasty retainer fees, so all is good.

Lol, and you are OK with the sale cash being squandered with Gneiss??

As someone else said… do we really trust this BOD with £20 million???

It’s pretty clear to me that the wider market does not trust them.

This is exactly what I’m saying - you and Chris have just concocted a story (Dan Maling is out to get you).

When you think rationally and look at my posting history you will see that I am just a normal guy, sometime investor in SCiR, that is concerned with The performance of the CUrRENT BOD!!

Big Double

This BOD has been in charge for nearly 4 years.

Why are you still talking about the previous BOD??

Maybe time to take ownership of your investment mistakes?

What is wrong with you L3?

You sound very bitter? Ex employee? Poor investment entry.

ATB matey

Indy - you are in the realms of quite wild speculation there. The company have never said that volumes were impacted by the switch to water flood as far as I am aware

Lol, and you are OK with the sale cash being squandered with Gneiss??

As someone else said… do we really trust this BOD with £20 million???

It’s pretty clear to me that the wider market does not trust them.

Good point Tigar. If Capex is concentrated on Magnus (I expect it will be) then BP effectively pay for a chunk of that.

Chris, Aimster,

Ask yourself - what would be most profitable for Gneiss.

That is where the BOD will drive this IMHO. So probably several drip drip placings with lashings of arrangement fees.

Doubt anyone is interested in buying at anywhere near £20 million while SCIR have nothing to fall back on.

BOD need to demonstrate strength and get funding in place.

These guys do not seem to be the right people to run a listed company of this size. You need big thrusting brass balls and these BOD look like wet pussies.

Large placing would be by far the best option. One set of fees rather than Gneiss taking a new fee for every drip drip drip. Take a hit at a say 0.5p /0.6p issue price and (if Chris is right) sit back and watch the SP run up to the drill.

Any “loan” would be repaid in shares when drawn, and we have seen with prolific how devastating and perverse this option is.

If you really want to drill, as most here seem to, then just get the money in place!!

It’s really quite easy to understand Chris

Chilting - even if some are now fairly priced, it does not mean anyone is ready to bid them up again. They dropped first for a good reason. They are probably the riskiest and most exposed to inflation and interest rate rises.

I think Jeremy Grantham has called this right (albeit a little early). We have seen some of the silly stocks knocked down but this is far from over.

That’s the problem Chris - unless they get funding in place soon we won’t have an asset (however you value it)