Member Info for mrc_mrc_mrc_mrd

Sorry, not in the highlights, but also not buried I. The prospectus:

“EnQuest plans to finance the Transaction through a combination of a new secured debt facility, interim period post-tax cash flows between the economic effective date of 1 January 2021 and completion, and an equity raise (collectively the 'funding arrangements').”

Romaron - no offence intended, I am genuinely surprised as it has been widely discussed on here. I was surprised that both jan and yourself were not aware, given the big difference it makes to the reduction in purchase price.

I am not an accountant but I don’t think that is necessary to understand the basics of the deal. The answer is in the “highlights” section of the relevant RNS.

My expertise, or interest at least, is on the technical side of the industry. I don’t have excellence in any field.

Surprised at some of the LTH ignorance about this deal! This is material stuff you are uncertain of…

Chilting - yes you are full of BS as far as I am concerned. Meaningless or very simpleminded posts. I would swear you used to be better. Maybe all the trading has dumbed you down a bit? Certainly seems you have been phoning in your “analysis” for the last year or 2.

Very little if any of Perth is priced in. If a farm in goes ahead we do multiples IMHO.

Perth has been knocking around for a while. TC has done well to pick up 100% stake on the cheap.

AA - they have the power to drive the SP down. I suspect they will get better than a 15% discount that Chris seems so averse to.

No doubt it will still be touted as a great “investment” and a vote of confidence if they convert below 1p.

Lol Chilting - sounds like a bit of a run away reaction!

What a lot of bullocks you post.

Just looking at what platypus could make at today’s prices.

Peak production of 47 mmscf/d

Gives over a million pounds a day revenue for the project, and over £150k to PMG if current ownership percentage remains.

Scott240 you are all over the place!!

lol

Well that order of magnitude AA. We had £7k traded on Friday I believe. It would take years to buy a million pounds worth on the open market as you propose unless they wanted to pay a much higher price.

You must be very green AA. This is basic stuff.

How on earth could they buy on the open market when volume is £5k per day.

As Chris says it is what it is.

At least with a good honest placing you know what the pain is. The dilution through this deal is not known until PB push the button.

Let’s see where that lands. I’m guessing you would all be a bit gutted if they took the shares at 0.8p!!!

They have the shares from the first Dane that they can use to drive the price down .

As I say, payday Loan type stuff. None of you lot seem to understand how bad this is? Or just putting a brave face on?

Yes, all looked at by Worley (Scott tie back) over the last few years.

It’s not going to be a small project, but we have 100% so not a big issue once farm in sorted. Chinese are energy hungry so I do think that it will happen soon. The big banks are predicting oil price remains high for the next few years so potentially a lot of cash sloshing around to invest.

Lol AA of course it is similar. They are giving the company cash now, and can convert that cash value to shares - in this case at a time of their choosing (most likely when the SP is on its ass to get the maximum number of shares).

It is perverse. As far as I can see there is no restriction on them selling down the last tranche in advance of taking up the new shares.

Get the ball rolling??

This BOD have had over 3 years! And the company has been basically in its current state for a few more.

I think this BOD are arrogant. They are not the right people for the job. They show zero passion for the assets. The AD business strategy comes across as a cynical lurch to what they think will draw in punters and prop up the SP. they haven’t even been successful in that. Partly I think due to the awful 35 slide garbage pitch deck full of gobbledegook. In the recent interview even the presenter was like, “what does all this mean”

I’m glad you have a warm feeling Frank

I prefer to look at hard facts and past performance. This BOD seem to be quite happy to dilute existing shareholders. We had 16% dilution last year and looks like it will be more than that in the next 12 months. At this SP any equity financing will be very dilutive.

They obviously can’t get debt financing so we have this innovative faux “investment” which is essentially a convertible loan note.

This type of finance has been used for years to transfer wealth from PIs.

I would actually prefer to see a straight placing (ideally with existing SH participation to minimise dilution). I think dressing this up as an investment is highly dubious and shows contempt for shareholders.

Once again, it is the arrogance of this BOD showing through.

Jan - I don’t think RNS timing really matters unless you are a trader. You might get some more volatility releasing it on a higher volume day, but I think ultimately in this market we will end up in the same place within a week or 2.

I think this is what Romaron was getting at yesterday.

We might get a piece in the Sunday papers to spur things along on Monday.

Im not sure how much of GE is in the broker forecasts. I suspect it will have been highly risked if there is any, so could see some new forecasts.

2500 to 8500 ppm

There are no extra shares on Monday?

The 190 million shares were added in June..

No Frank -as far as I’m aware AEX do not have this type of finance which some described as death spiral finance.

The problem is we have an investor that is not aligned with retail investors. PB benefit from the SP falling. It’s a desperate deal IMvHO. Payday loan type stuff.

With £7k traded today…

Don’t think it would take much to crash the SP.

Prolific Basins have a lot of shares to sell into the market if they choose.

Yes AD - one might say we are a distressed seller.

This old dog of an asset has been on the go forever. Probably 2030 before 1st gas (if ever) IMVHO.