Member Info for mrc_mrc_mrc_mrd

RTR

Money costs money, and needs a willing lender / investor.

We are in an environment where lenders and investors are shunning the industry.

Assets are also cheap so those with access to cash can get a very quick return on it.

So I would say a premium on cash for shares is sensible and would factor in the alternative borrowing cost (say issuing a bond at 10%). A higher premium would be added if the acquirer is unable to borrow through conventional channels.

I would also say that the North Sea and other exploration assets are not worthless.

Hi Frank - I don’t think beggars can be choosers.

Squif there is something wrong with you m8.

Lol I love it Chris

Don’t post that on the Challenger BB though maybe…

Indeed - we knew where we stood with NR. Should have trusted him a let him buy more of HE1!

He would have stopped them F Ing up the drill as well I think.

We would all be minted by now.

There was another young man on the BOd who was a very slick chap. Certainly more dynamic than this lot!

Maybe the last mob will come back in and pull the company back up to 2.5p share price.

This lot have destroyed a lot of value so it won’t be an easy job.

Yes it would make sense IMHO. Funding is difficult and expensive in the industry. Buy our cash with shares. And get the exploration and Egypt as well.

Net cash position post award must be more or less 100% of current market cap.

I think you could be right Joel.

We know from the last presentation that Tom is an AIM gambler. I think he will have the same mindset as Chris and expect SCIR SP to do multiples in the run up to the drill (even though it is not fully funded).

I think he will plan to get a placing away at a higher price.

Very risky game if that is his plan.

I see you are all coming round to my way of thinking.

It’s looking like a placing and consolidation if they can’t offload Ruvuma in the next few months.

Or perhaps just relinquish the asset to avoid cash calls?

Well done savemore

Surprised they gave you that much to be honest!

Well you have to compare it with the cost of installing a completely new gas infrastructure surely.

And that infrastructure will only be operating for 20 years or so before we are all supposed to be net zero!

Could end up being a stranded asset if things move quickly.

Fair enough mriggy

There is not much they can do about operational issues except to employ good people to react. Mostly if is just luck if things break.

Kraken has performed at high end of forecast for the last few months so we were due an issue. We will get more details in the OU I’m sure.

Lol good one Steve

Lol, dire?Really??

adjective
1.
extremely serious or urgent.

Chris - clean energy is great so why would Tanz want dirty old gas. I understand a lot of this gas will need to be exported? Do other countries in Africa really want to invest in dirty gas?

By 2026 Africa will probably be covered in solar panels and green hydrogen plants!

Developed countries have a lot of sunk cost of infrastructure but Africa not so much. Perhaps better to be in an established market for gas where alternatives don’t have the compete with the cost of existing infrastructure.

44 - what has changed is the capital available for oil and gas. Investors are not interested.

Take a look at LBE. Exploration success (near field tie backs) and the SP has not moved.

I agree oil and gas has a future, but most of the investing community won’t touch it.

Kraken would probably be HVAC for 80 miles and 60MW.

Longer distances and higher powers need HVDC.

Martin Linge is 55MW, 160km at 100kV. And is HVAC.

HVAC would need an onshore substation, and transformer offshore. It might need reactive compensation equipment onshore and offshore.

Space and weight will be the biggest problems for brownfield applications such as Magnus. And cost obviously.

The FPSO rotates around a fixed turret which is anchored to the seabed. The swivel is what let’s you transfer power, signals, fluids from the fixed part to the rotating part.

Power is transferred via a slip ring. Which is basically a conductive brush connection.

SBM claim to have a high power swivel so may be possible, but it’s a huge thing to replace.

I have not read it all.

Chilting - that is just not true.

All operators are doing feasibility studies for electrification. It will be a commercial decision. It’s not difficult but it does cost some money and the strength of the local grid feeds into that.

As far as I know there is no public funds available but if you know otherwise please provide evidence.

The OGA are helping with knowledge share where that is appropriate.

Kraken FPSO is about 80 miles from Shetland so distance to SVT not a big issue. Closer than Norway.

My view is we will see Magnus electrification first then bbk.

I’m not convinced AK will still be on this field in 2030.