Member Info for mrc_mrc_mrc_mrd

Yes, stealth dilution is running very high at this share price.

The BOD and their related parties gain more control with each day that goes by.

Even if you can beg borrow or steal something suitable it will take weeks to get the old one out and new one back in. These are big bulky pieces of equipment.

I don’t think EP has anything suitable. Be interesting to hear what ENQ say today. I doubt they will give much away if past is our guide.

Anyway, I’m not worried, these things happen.

Mito is correct about replacement parts - there is essentially only one part.

Some sort of solution will be possible I’m sure, however these are likely to be special multi winding transformers feeding variable speed drives.

Replacement with new will probably take 12 months +.

Anyway, impossible to say impact without knowing what the failures are or what the transformer specifications are.

Power / distribution transformers are not readily replaceable as new parts. Lead time for new transformers is 12 months plus currently for standard designs.

Redundancy will be built into the system…I.E 2x100% transformers in each service. If these have both failed then they will need to get some temporary power on board IMHO.

It could be several weeks to get a lash up job done and then operating at lower capacity potentially.

All a guess.

It would be very unusual for multiple transformers to fail suddenly…

The much lauded Miller is abandoning the good ship Scirroco.

This is looking like it is headed to the end game now IMHO. The cupboard is looking very bare.

My view is that labour are falling into a trap. It will be very easy for cons or SNP or both to change policy, admit it was all a big mistake and paint Labour as extremists.

My guess is that this will be a culture war election. If Tories can get the economy moving in the right direction then they stand a good chance of getting back in

Atomical - no just a few lonely and beaten up long termers here trying to pump and dump.

We know the BOD read the BB. Do they contribute also???

Lol I expect you will be topping up on the spike AA?

Never learn PMSL

Ariel - SCIR own 50% of EAG and have effective control.

Another great deal by this BOD. Stump up all of the cash for only 50% of the company. What do our “partners” bring to the table (other than actually having knowledge of the industry and some skills at running a business profitably, PMSL)

The BOD have chosen to enter a venture they can’t afford with money that was needed for legacy asset development.

As I say, right pigs ear this BOD have made of things IMHO.

Looks like game over if they lose control of EAG. What’s left after that?

It looks like the only asset could now be diluted to oblivion.

Https://www.energyvoice.com/oilandgas/503674/boards-north-sea-companies-female-powerful-women/

Enquest doing well in comparison to other NS players

Https://www.energyvoice.com/oilandgas/503674/boards-north-sea-companies-female-powerful-women/

Sure, you might get to add at 0.1p if they do a rights issue to cover the debts.

Is that really cheap though given the management team that is in place?

Apologies, I mean if SCIR can’t meet cash calls…

Edgar.

If AEX can’t meet their cash calls then…

ARA get an additional 18.75%

AEX get an additional 7.6%

The 25% gets split between the other partners

Edgar - if SCIR can’t pay up then the asset gets handed to ARA and AEX. They have no incentive to stick to this deal. aRA have let SCIR rack up a debt that they know they can force a default on.

The deal expires if both parties can’t agree to extend the long stop. ARA will then be able to call in the loan.

SCIR have spent it so a raise would be needed. Likely punitive.

SHS

Well if they don’t agree to extend the deal then SCIR are up the creek IMHO.

It ain’t looking too clever