Member Info for mrc_mrc_mrc_mrd

https://www.energyvoice.com/oilandgas/north-sea/497746/inaccurate-uk-government-figures-on-uplift-north-sea-oil-spills-report/

Any keyboard warriors want to ask bbc etc to give this the same prominence they gave the uplift story?

Sadly more cash is required to really make anything of this business. This will either gradually drift down as that realisation dawns on the cross acolytes, or crash in a monster placing.

All my opinion

The main opportunity with EPL is that full tax paying companies can’t compete. They need asset prices to drop before they will be interested in acquisitions. They may also become sellers themselves.

I am hoping we can do a big deal to help someone exit the UKCS. Maybe CNOOC? That would give us a stake in Buzzard, and a bigger % of GE, along with Scott platform which has opportunities nearby. It would be a huge deal but it would definitely accelerate the tax losses!

CNR

Canadian natural resources

Yes they would be quite happy to be incorporated into greater China IMHO.

Reading the IEA report on net zero and it is also fanciful. They have TOTAL ENERGY USE falling from 2019 high. With 3bn added to the population.

Not possible without significant reduction in everyone’s living standards in my opinion. And that obviously risks the very stuff we are hoping to avoid…war, famine etc.

They have oil price at $35 at 2030 and reducing further long term.

Also seems naive now to leave production to lowest marginal cost as they suggest…Our enemies Saudi and Russia would be very happy with that suicide I’m sure.

The really dangerous thing is that credible institutions use some of the same language about stopping all new developments, climate crisis etc.

That gives the nutters justification for what they are doing

All of the ones I have seen sound like they are mentally ill.

Hi Stevo - just having another listen. Half of the 70m EPL was paid in December 2022. Just after 49 minutes it is mentioned

Good summary Stevo. Thanks.

Just a bit of patience required now.

Hosie on side now

Is nose picker and beard scratcher in chief still running this sheet show?

I don’t think we get anything new on the 19th…maybe more detail about our operations and what is possible at SVT.

I expect a story to be told about where AB wants to take the company.

I think it says the reason in the RNS…the company is pivoting to infrastructure and new energy. We are also moving towards a secure financial position.

We are a different company and the board is changing to reflect the expertise that we need.

Stevo - I agree…no asset sales…no need as they are in the right hands already and we are not desperate for cash. Farm ins to Bentley, Bressay. Partnerships at SVT.

Agree that Upstream deals can be done for low upfront consideration.

Equity raise very unlikely for the reason KO states…shareholders are crying out for returns…I think it would be tone deaf to issue shares while talking about returns and buy backs next year.

I can’t believe BD has been sucked in by these guys again.

They haven’t changed their stripes.

Root problem is bad and greedy management team in my opinion.

No danger of an asset sale in my opinion…

My view is we will be buying a producing asset. Late life is now very attractive for us again…buy for next to nothing, reduce costs to extend life for a few years, use up tax losses faster, then decommission.

These assets are much more valuable in our hands.

Looks like this was just another spike based on hopes, dreams, and a few of the same old unscrupulous characters.

All needs money. Looks like we could still be strung up by our Tanz partners…

Fundraise likely in any case…IMHO

Why would anyone listen to the likes of SoTB and Buzz?!

Scott is rude but he has called this one correctly. I happen to agree that this has a lot further to fall. It needs to adjust to the new smaller and less ambitious business.

The jam tomorrow of Perth is now disappearing so we are a steady as she goes loss making renewables business with a small amount of legacy gas production which is helping to keep the lights on and Tom and his family fed.

The SP does not yet reflect this.

Raising $6m then what is needed on top of that to get to production is highly unlikely.

ARA could easily delay production if they want our stake for free at relinquishment?

lol has AA got a new avatar?