Member Info for mrc_mrc_mrc_mrd

Yes I also hope it falls through but doubt it will.

I don’t mind the Egypt assets. At the end of the day this is an oil and gas company and should be able to extract value by exploring, developing, and producing as efficiently as possible. Sometimes assets just need a bit more attention. If it is fixed price and we can’t increase production or reduce costs then it is value added.

The BOD have no choice. They must sell IMHO.

If they are forced to spend to get into production then they will end up having to relinquish the asset IMHO. Unless someone can tell me where they can raise the funds? Shareholders are all tapped out, and these death spiral facilities only take you so far?

Buyers likely know this and calling the BODs bluff.

Yes Steve - was it 5000 barrels of equivalent per day?

That would be clearing three quarters of a million dollars A DAY!.

Crazy they let it slip away.

I agree, if greenan goes south then it is the end of the road for the BODs.

Glad we are no longer importing to Magnus for gas lift

Nat gas up 10% today. Just think what SCIR would be making at these prices had the BOD had some foresight!!!

Brent pushing on to $80. Very tasty indeed.

Lol he is obviously out at the moment

Take care KO - this could be the moment we’ve been waiting for.

Lol I think you better re-check your calcs big pot.

What we need from our politicians is a bit less pandering to the “fossil fuels are evil” crowd, and a bit more honesty about the standard of living our children will have as we transition.

In the UK - do we really want to shutdown the North Sea and import all of our gas from Russia? Our oil from the Saudis, Iran and Russia?

Much better to have a long term plan to maximise economic recovery (as we do), and invest in new technology in parallel.

Enquest and parkmead are both well placed to help us get to the new world. Ruvuma will also supply gas one day I am sure, even if that is in the 2030s and SCIR are no longer involved.

Your kids will live in the real world just as we have to.

I know you guys are prone to wish thinking, but these are the hard facts I’m afraid.

Good luck

Frank - I suspect many are now realising that they still need to fill up the car and heat their homes. A quick transition is a pipe dream.

I suspect we might find silence on North Sea oil and gas. The crusties have lost that one.

Enquest throwing off half a billion per year in free cash flow, with significant hedging in place for the next 2 years. I wouldn’t worry about the debt. Crusties have made Enquest very cheap.

Could fall back with no news, but must be nice to see some blue.

Somebody who bought in the last few weeks can now sell at a profit. Any beaten down LTH can now sell with a little less of a disaster our loss.

Will 1p now be resistance? Have the MMs just moved the price up a bit to suck in buyers?

Why would Global gas price have any impact on the value of Ruvuma project which is 5 years away from first gas?

China is on a crusade so whether they can bail everyone out may not matter. What they are doing more broadly is so disruptive I think it will drastically reduce their growth. Housing is going to take a big hit just through uncertainty, and will drive a negative wealth effect and general slowdown.

AIMVHO.

No worries about CNE - might get marked down, but could be a great opportunity for them to buy some cheap assets, and also make buy backs more effective long term.

Crypto leading the way down today after another crackdown in China.

The plan is quite clear. Focus on debt.

I have no doubt we will see that change over the next 12 months as the debt disappears.

We have great POO for the rolling hedges that need to go on as condition of the RBL.

Chilting

You are talking like a trader again.

The update does not change the future stream of dividends. Nobody on this forum was surprised by production numbers, and FCF over a short period does not tell oh a great deal.

One way or another the value will be realised in time

Same here. Only holding European oil and gas companies long but even they could be hit.

I think earnings will be the trigger.

Thanks AA - this is exactly where companies like Enquest can come in and make a killing, particularly if oil stays at these prices or higher. A lot of near field tie backs required to get every last drop out that we can!

Great time to be in oil. Sector starting to come into focus.

Just utter rubbish you post these days Chitter.

Enquest has outperformed all of our peers over the last 6 months.

https://www.google.com/finance/quote/ENQ:LON?window=6M&comparison=LON%3ATLW%2CLON%3AHBR%2CLON%3ACNE

We are still in an uptrend and I expect that to continue.

PMG starting to move now

Crazy low price there as well but the gas crisis is drawing attention finally I think.

We will se a lot more interest in oil and gas shares now that it’s all over the front pages.

Unlikely IMHO - doesn’t seem to be much demand in Tanz for gas