Member Info for mrc_mrc_mrc_mrd

Well I have made it to the end of the prospectus and found it a great read.

This removes a lot of risk.

The finance comes with a very strict amortisation schedule, but debt is still the priority and this incentivises debt reduction. Still plenty of room for ENQ to be business as usual with near field drilling, and progressing the longer term prospects to FDP submission.

I’m sorry the swedes can’t join in, but at least it is very minimal dilution and small discount.

The interest rate is a nice surprise. Hopefully sets the tone for bond finance discussions!

Sorry but I can’t see this as positive. Market may well react badly tomorrow. Another whole year of costs that need to be funded prior to drill.

Likely to be more dilution IMHO.

All aboard rocket ship Enquest

approximately $47 million will be funded by the Capital Raising, being the entire net proceeds expected to be raised from the Capital Raising;
• approximately $203 million will be funded by an RBL which was entered into on 10 June 2021 by the Company and certain of its subsidiaries as well as existing cash balances; and
• approximately $75 million will be funded from interim period post-tax cash flows from the Golden Eagle Asset between the economic effective date of 1 January 2021 and Completion.

Nice to see price of GE reduced by $75 million with cash flow from 1st Jan! Just think how much cash we will be getting with the tax credits factored in!

Why are you banging on about something that we know is not going to happen??

This is supposedly the 2 full time traders?

Also on here this morning saying it was confusing?!

Just bizarre...

THIS WILL NOT BE A PRIMARY BID OFFER

In my experience the primary bid is used instead of a formal open offer to allow retail to participate on the same terms in a placing.

It’s a sort of crowd funding platform for listed companies.

Primary bid are second rate AIM nonsense in my experience.

Doubt we will see that.

Below 1p to sell

Fantastic- another half a million barrels getting sold at these prices.

AB has played a blinder here.

On the 3rd of July 2020 - 647,509,807 shares in issue.

Current number of shares in issue - 758,787,936

Approx 16% dilution in the last year.

People here should be furious- what has been achieved with the extra cash?

Some of the less experienced retail mugs have been tricked out of their shares this morning.

Rockets are now fuelled up ready for blast off. I expect we will see a sustained rise now as some of the more experienced investors start to take Enquest seriously.

10% can be easily absorbed

Interesting that someone mentioned dilution at Enquest (10%)

I’ve just run some calcs and note that dilution due to director gifts and death spiral financing in the last 12 months here are greater than 10%!!

Drip drip sneaky sneaky if you ask me!

Wow some sensitive yet angry and bitter souls here. Not seen so much vitriol before.

As I’ve said before, you might get some of your money back if the BODs can punt on Ruvuma for a cheeky $10 million. Minus fees and other costs shareholders might end up with more cash than the market cap!!

Of course with the current BoD in charge of the cash pile the SP probably wouldn’t rise??

I’ve got a big bone on just thinking about it

Not sure what all the moaning is about this morning

Is there really anything unexpected? We will see the prospectus shortly and get full details.

We have de-risked today and I think we will see the price rise after PIs sell what they need to fund the new shares.

Also noteworthy that we have only fallen in line with the market.

An awful lot at these prices!! Long may it continue

Revenues £20 million plus plus

I obviously hope everyone gets their 10 bags here, but got to call it as I see if to be honest!!

BoD has really screwed up here IMHO. Would have been pulling in stonking free cash flow if they had stuck with fossil fuels instead of chasing the latest trends.

The new deal doesn’t seem very scalable. Are we going to go round the country buying out farmers side hustles? Has the BOD really thought this through??

Sorry big pot

#Crude -8.153M
#Cushing -1.318M
#Gasoline +2.418M
#Distillate +0.428M