Member Info for mrc_mrc_mrc_mrd

I certainly feel a movement stirring

Another box ticked

I suppose at least we are not paying Jonny boy twice now. Probably just doubled his Gneiss rate.

Outrageous.

Get ready for some SP pain tomorrow IMHO.

I had hoped that the BOD learned their lesson on Gneiss.

£3 all share offer would be excellent.

Unless CNE have some good deals lined up to make use of this cash.

Other sources of funding are hard to come by and expensive, so buying cash with shares is a quick and easy way to raise money. A low debt independent is what is needed to hoover up all the assets that the majors are selling.

They get the exploration opportunities and Egypt production too.

Cheers L7. Good to see you here.

Further I believe they would have to disclose if they had entered such a contract or were engaged in hedging.

They are unhedged. You can see that from the variable income over the years as gas prices fluctuate. There is no need to hedge or enter long term contracts…particularly for the tiny quantities we produce. The boe are profitable at very low prices.

Vike - actually prices were about 20 euro when the deal was struck I think. Now you can add 100 euro to that.

Parabolic.

https://www.theice.com/products/27996665/Dutch-TTF-Gas-Futures/data?marketId=5285052

Now the BODs are going super safe with low fixed margins from the cow farts. Hardly what most peeps here bought in to. Even if they scale up it’s going to take years and years to get a return on these investments. That is why the SP is declining.

The BOD should have invested in gas with a view to the whole cycle not spot price. I think this BODs are basically gamblers, not serious investors.

Dutch gas up 20% today.

I wish the BOD had completed that blasted deal for 5000 boepd of Dutch gas production. Market cap would be multiples of where we are now!!

Page 19 - https://www.enquest.com/fileadmin/content/Annual_Reports/Annual_Report_2020/2020-strategic-report.pdf

Preparatory works will be undertaken in 2021 ahead of the planned development drilling programme in 2022. In addition, following the award of block 211/12b as part of the 32nd licensing round, the Group will commence subsurface studies to assess the block for future opportunities. With 2C resources of c.35 MMboe, Magnus offers the Group significant low-cost drilling opportunities in the medium term, in addition to an estimated c.250 MMbbls
of remaining mobile oil in place that requires further evaluation to identify future drilling and tie-back prospects.

https://itportal.ogauthority.co.uk/eng/fox/oga-report/PED300X/offshore-licence/?LICENCE_TYPE=P&LICENCE_NO=2599

Strange that it says there is no operator but ENQ owner

This is officially insane.

Fin cap risked NAV of 159p Assumes long-term Brent price of US$55/bbl, Dutch TTF gas price of €16.5/MWh and UK NBP gas price of 45p/th.

Revenue for 2021 was estimated at £5 million based on these prices and production of around 500 boepd

They have the licence until 2025 according to OGA. And it is mentioned in the annual report.

Lol Chris, and you think he is out to get you after you’ve met him twice? You must be really special!

Lol Chris, I guess you have personal history with Dan.

Very strange behaviour on your part - if he does read this board I bet he is having a good giggle at you getting so worked up with a random on the internet!

We know that if there is a cash call that SCIR can’t pay the. The asset will be distributed among the remaining partners?

Zubairs are hardly going to give us a free pass.

I expect the drill can be funded via the existing death spiral and HE1 sale. But it will leave SCIR vulnerable if there are cost over runs.

They really need to get a new placing or additional finance in place IMHO.

It’s a shame because if they had been less greedy and sold the lot of HE1 instead of gambling on the drill then the money for the work programme would be in the bank!!

Just loading up while the market remains stupid.

I fully expect the GE to be news to the market, and restate accordingly.

Beyond that we just have to wait for these oil prices to start showing up in the results and plans for the future / divi laid out.

Muted reaction today might have something to do with the broader market sell off.

I am a buyer today. Had cut back to core holding but this is too tempting now.

30p can’t be too far away.

Not sure what results you are talking about? Being embarrassed on national telly? Underfunded IPO?

He seems to be an irrellevance.

Energy transition will happen. It’s a good idea whether you believe in climate change or not. The question is pace.

There are some really exciting things happening. My personal favourite at the moment is Carnot who are working on a ceramic uncooled ICE with up to 70% thermal efficiency. They are currently crowdfunding.