Member Info for mrc_mrc_mrc_mrd

Big double. I’m surprised you have bought into this Dan rubbish. Must be a good batch of kool aid going around!

I agree with your 8p reached on a spike, but doubt it is achievable now. A lot has changed and there is going to have to be more dilution.

The world has changed and SCIR has been left behind IMHO.

We have sold off most of our assets and now entering a very low margin business.

On sale of Ruvuma 2-3p may be achievable IMHO. But it is a long shot and not good risk reward IMHO

On March the 6th 2017 the sp hit 0.825 which post consolidation is 16.5.

Once you take into account dilution the same SP today is around half of that or about 8p.

So yes I think bandying around numbers as if they will ever be achieved again is misleading.

Value has been destroyed through heavy dilution.

You are also taking a spike price. Why not be a bit more long term and consider say the average SP in 2017? Say 0.4p would mean that if we get back to that market cap it would be a sp of 4p.

Hardly a stellar performance over 5 years!!!!

AA - I wouldn’t trust the guy who thinks we have only seen 25% dilution here since the consolidation!!

It’s not correct by a long way.

Perky now also throwing out some wild and misleading numbers.

Good luck pumpers IMHO

Big double - there is a massive difference in your figures.

The hope here is for a pump and dump spike to get out on I think?

Maybe you will get a spike in the run up to the drill?

Big double - your dilution figures seem way off IMHO.

Can you show your working?

Doesn’t really matter to me. We are making obscene amounts of free cash on the Dutch gas. Just a matter of time before some of that cash is used to develop and monetise our assets.

I think he has filtered you KO coz of all the balls you have been posting.

Yes AA - it was a related party transaction.

Read up on them a bit - they are seen by many as indicative of poor governance.

This is what the world bank has to say about it:

“Related party transactions can present a conflict of interest and may not be consistent with the best interests of the company and its shareholders. It can lead to situations in which a business opportunity is lost, or funds are tunnelled out of the company into another entity”

It has been going on here for many years in various forms. I would like a BOD who take governance a bit more seriously.

Kraken is going great guns

Fair play frank! I hadn’t actually looked at the trading volume that day. It was just a thought that occurred to me when I saw the awful RNS. I know if I had been holding then I would have dumped the lot on that RNS

Huge red flag these cozy related party transactions.

Frank - not exactly big news... 2 million shares is about 20 grand.

I don’t think there will be any benefit to SCIR for some time as the small cash flow should be invested in optimising the plant (as well as obviously paying salaries etc). This is before any further deals which are going to need a further cash injection.

The gneiss retainer will be going out the door and 100% SCIR cost.

Romaron - what makes you think CAirn got a bad deal on catcher / kraken?

My view is they have kept a good deal of upside and offloaded a lot if risk.

They certainly appear to have better upside exposure than Suncor got out of AB.

I’m not sure it tells you much that we couldn’t work out anyway from guidance and tankers.

Enquest GE deal is more favourable than Waldorf got as Suncor contingent is capped. We keep a lot of the POO increase.

It’s a difficult one but I assume the deal structure was done to basically take oil price out of the equation. So price action this year and going forward in Brent doesn’t really matter.

On that basis I think the deal is OK. I like Enquest but they will have different priorities to cairn, and kraken might not be where they prioritise capital.

We get rid of any risks associated with ageing infrastructure, production declines, reducing margins, decomm etc, but retain some exposure to the upside.

And with the Egypt assets we are now in control of our destiny. Plus hopefully some other deals picking up good assets from Shell and others.

BTFATH1 - maybe just cut back on the boasting then?

Nobody cares what money you are making trading this.

It’s not reportable - as in mandatory - but they will RNS it because they will want to drum up some interest. All in my humble opinion.

I can see SVT having renewables infrastructure to power electrification of platforms, and possibly hydrogen production once the hydrogen economy gets booted up.

Very unlikely to be prt of an energy island IMHO due to distance from consumers. Orkney has struggled to get infrastructure to connect their renewables to the mainland grid. Perhaps with huge scale it becomes viable.

Anyway it is a decade away IMHO.

There is a lot of hypocrisy out there. People have this facile view that fossil fuels are bad, but don’t realise how much their lives rely on them!

I will happily profit from this ignorance!

We are all here to make money, not to engage in pointless hand wringing.

Romaron - here is some info on the technology. BBK electrification is very do-able. I don’t think a new development would get approved without it.

https://www.google.co.uk/amp/s/www.electricaltechnology.org/2020/06/difference-between-hvac-hvdc.html/amp

30p next week lads

A worrying number of people are ignorant of what oil and gas have done for the world, and the scale of changes needed to displace it in our lives.