Member Info for mrc_mrc_mrc_mrd

Big D - all the long termers here agree with my interpretation. Phase 1 only funded.

As I say

Dangerous game. Could lose the asset if they can’t bring in funding before the cash call.

They have even said that it is now very difficult to get funding for oil and gas. That is why they are running off to the renewables sector.

I will if you will big d

Nowhere have they said that “funding for seismic is not an issue”

He done you over something rotten, friend.

bigdouble Premium Member
Posts: 7,781
Price: 0.925
No Opinion
RE: AEX up another 17% this morning.....Today 16:38
mrc- you are incorrect. Funding for seismic is not an issue.

Lol I wish I were Dan Maling

Sounds like the guy was laughing all the way to the bank with your cash!!

Care to have a little side wager on whether the seismic is fully funded?

Very dangerous game this BOD are playing IMVHO

Big double - it is discussed in the context of phases funding. Funding in place for phase 1 seismic. The question was about when funding would be required.

I think you are grasping at straws if you think phase 2 is funded. Do you not think they would advertise that phase 2 is also funded?!?!

Big double - I refer you to the words of Tom(around 14:45 time stamp)

https://youtu.be/IQ1XBKw5y-8

Hate to be contrary, but the company have stated in an RNS that they are funded for phase 1 only. Phase 2 starts after the rainy season (a matter of weeks away potentially).

So to be clear, I am correct to say that the seismic is not funded. Where is the money coming from??

Seems like it was just the turn of others today after our recent run up. No doubt some profit taking in oil and gas.

Peeps like BATHTUBS will be taking their small profits before buying in again at a higher price next week no doubt!!

Have they disclosed something t you?

The last statement in the investor presentation was that the 2nd phase of seismic was not funded?

Great if they have funded it, but should really be disclosed IMHO.

Hi big double - the BOD seem to be struggling to obtain funding for the seismic??

Not sure how you think they can fund the drill?

That doesn’t explain why you care KO. The SP only matters to LTH if the company needs to issue new equity (dilution).

Sounds like you are worried about the interests of day traders!! No sure why that would be? Looking out for your mentor Chilting?

Why do you care KO if you are holding long term?

They have said anything material would be announced.

Maybe TR put his hand in his pocket?

Wishful thinking I expect…

Robs - should be good to raise more funds IMHO if it is for a defined purchase or project.

Fundraisers were a long time ago, and you can hardly blame PMG if you chose to invest at the peak of the cycle, as those guys did.

We need it in the sense that without a longer horizon the market will wet it’s pants.

Even if repayment were “guaranteed” by hedges it would be a bit dodgy if we had any longer term production outages.

I still think our current debt schedule is a big drag on the SP. Might be why TLW is outperforming recently.

AA - there is a difference between speculating on a share price for a non core asset like a glorified punter, and pursuing a growth strategy.

I think even you can understand that!

SCIR should be building a business, not gambling at the AIM casino.

I will grant you that the gamble paid off. But what if it hadn’t?

I will also remind you that it is the BOD that decided to float (and massively dilute their holding) at 3p. Presumably that is what they valued the business at??

Chris - your apologetics for the BOD is admirable, but you degrade yourself trying to defend these guys.

It’s a god awful strategy which they seem unable to deliver. How can you grow a business when you are terrified of taking risk (as came across from TR in the q&a).

The guy has lost his bottle IMHO

https://d1ssu070pg2v9i.cloudfront.net/pex/scirocco/2021/02/24094206/Scirocco_Energy_Corporate_Presentation_February_2021.pdf

This is not good reading. 1 year into the new strategy and we seem to be moving backwards!!

Hi AA, hope you are well.

I can’t imagine many here are happy with the BOD. Seems like a bunch of amateurs.

What happened to Muir?not heard a peep out of him!!

The BOD promised a pipeline of 5 deals around this time last year. What the heck happened to these? Are we still building a business with EV of £150 million like they promised?

It would be a good idea for the lovers of the BOD to check what was promised a year ago!

The BOD have a strong history of over promising and under delivering. Thanks

Consultants will only be off the book once AD is at scale, and TR seems he’ll bent on this cautious approach of small deals.

It’s just awful. Fees are a massive chunk of a small deal. I wouldn’t mind fees if we were getting something transformative.

I don’t think anyone invested here for crappy little steady income deals.

BOD need to be shown the door IMVHO