Member Info for mrc_mrc_mrc_mrd

The yearly chart is looking rather good. Nice gradual build.

The fact that Berkshire are involved in some of our licences gives me a great deal of confidence.

The SNP are not stupid. They know that Scotland has a resource which is in demand around the world. The logical thing to do is exploit the resource whilst using the cash to benefit society.

Stopping oil production would be foolish. There is no contradiction in reducing our own emissions and still producing oil. My view is that the green lobby will soon have a reckoning with the real world where oil and gas are required for the next 30 years at least. Do we want to rely on Iran, SA and Russia?

I was a buyer again today after selling some at 54.65p. Happy to have the chance to buy below 50p.

This bull run in gas could be just what we need to get theses projects going and funded. Cash building up nicely.

Should be a very easy deal to close. As usual timelines indicated are not being achieved.

BODs snoozing again?

They do apparently think they can optimise greenan. Maybe there will be enough in the pot if they sell the last tranche high.

Risky gamble though!

KO - no I am happy to have taken some profit, and if this takes the SP to 30p Monday then I might take some more profit!! Leaving some in to pay for my attendance at the 60p party of course!

My circumstances have changed since I first bought in, and the risk of being all in on one company is no longer tolerable!

ENQ still my largest holding, and happy to keep it for the dividends when they come.

SHS - it would not even cover running costs and Ruvuma work plan commitments for 2021 /22 (if they sell the last tranche then that will get them close to fully funded for the drill IMHO)

Any acquisition will need debt or equity raise IMHO.

Hitman - buzzard phase 2 will add another 11k barrels net so I think personally it is too large for ENQ to acquire, and also probably a bit more core for Suncor?

Would be great if they would sell it on similar terms to GE!

Are they looking to get out of the North Sea?

Of course we could.

Barring anything major, we can at least expect some volatility while the future hangs in the balance.

If the US take everything down then ENQ will be a decent place to hold or add.

ENQ still my largest holding but I have taken the opportunity to reduce what was frankly a stupidly high exposure ??, and move some of that to cash (at about 20%)

Could be Chilting, but that’s not what the scientists are saying?

Same as last year, summer holidays come, everyone’s outside, kids off school, think everything’s good, fear of testing in case it ruins their 2 weeks in cornwall.

If there is no vaccine evasion then I agree the West is well placed. It’s Asia and Africa where this could still get really serious. China’s vaccine is supposedly not great so they may need to go deep with their lockdowns to control delta

Depends on macro I think.

Delta variant raging, and US Tech having a bit of a wobble wobble IMHO.

I don’t think you will see 15p unless we go back to lockdowns, or if China cases take off.

Of course if US equities do have a big correction then all bets off.

It’s all about the commercial side. Approvals, partners, funding.

These are Toms strength and I think we will start to see these coming over the line.

It’s easy to buy cash generating assets, but they come at a cost unless you are lucky in the cycle. Companies that do this usually grow market cap but not shareholder value..

If TC can get some of these fields into production then We are well in the money.

He is on LSE posting on his own board?

https://www.lse.co.uk/profiles/cuchulainn/

Maybe C4 news could get some more dirt going through his old posts.

Not very professional...all very well to have opinions, but you need to think about the damage they can do to your company and social licence to operate.

Guess they might tank tomorrow...

Orcadian - North Sea - IPO a few weeks ago.

Everything is at the stage where it is just about commercials IMHO.

Once the projects are actually actively being developed we should see ore interest / news flow.

TC has been getting all the ducks in a row. Shouldn’t be long before some of them bear some fruit.

Perth needs a partner to sign. Platypus needs licence and revised FDP. Wind farm presumably needs planning application / agreement with Siemens or similar to build and operate. NL depends on partners budgets.

Drills?

Might need better volume to break through 25p

Of course that is also unlikely, as they could just go straight to shareholders with say a 2p offer without buying any shares beforehand.

I would imagine a lot of shareholders would go for it.

I suspect if they offered 2.25p then the BOD would probably recommend it as they will get their money back, plus I’m sure some juicy options?

Some people have mentioned WEN. Perhaps they could do it like this if they want Ruvuma at a bargain price.

Jam - that is my understanding as well.

Given the daily volume it’s likely a buyer would need to bid the price up anyway to accumulate 30%, or at least increase volatility to drive volume. At this point I think a lot of shareholders have this in the bottom drawer and won’t sell with the usual method of dropping the price and watching the mugs do the usual buy high sell low.

We agree AA

With all the cash and HE1 going to the work programme, we have 2 ways to get a return.

Sale of Ruvuma, or development of biogas.

My question now is....are the Ruvuma costs adding value, and is it worth it. The sensible thing would be to sell Ruvuma, but I guess there are no takers at the moment.

Enquest should be fine, but macro wise I have come round to your delta variant way of thinking.

Also can see central bank action coming sooner than people expect, bursting some of these asset bubbles and potential contagion.

China are already acting and moving to deleveraging which will impact growth.

So yeah, could be a choppy ride, but I am a long term hold on ENQ, and will be buying any significant dips.