Member Info for mrc_mrc_mrc_mrd

Lol, well I am calling it. Certainly not Brent related!

Something is afoot

I think we might be on for one in expectation of the prospectus being issued.!

Things don’t quite seem to be going as you told us Chris. I thought HE1 was supposed to fly on this news?

Should be a good week!

Agreed ENQ should focus on oil and licence to operate issues such as reducing our production emissions.

That said it would really be rude not to participate in any Sullem Voe Venture as long as it is not too capital intensive and low margin.

2 year Hedge on at $80, drill bit turning next year, refinance bonds and sanction BBK by end 2022 of POO has behaved.

Chilting - for most people trading is gambling.

If as you say the world is so unpredictable then you are going to miss out on a rise just as often as a fall. Or you are going to sell with a loss. At least with a long term investment the dividends even things out, and you can buy in over a long period so you don’t get spiked.

Your strategy sounds much riskier to me.

Hi Chilting - the fear is irrational IMHO. The west will not allow swings between $20 and $200. It may mean long term contracts, more storage - basically the market will sort it out. There are ways of mitigating extreme volatility and it is in the interests of buyers and sellers to do so.

It would take a miracle fuel to destroy oil demand to the point where it stays at $20 for any length of time. For me the only chance of hitting these targets is To deal with the carbon using CCUS! Another potential revenue stream for ENQ!

No chilting, that is your view. The article certainly doesn’t make that assertion.

The oil industry will find balance, but it might not be the same model as historically of huge investments developing with debt. AIMVHO. Even at $100 oil I can’t see everyone diving in with both feet.

I see it as a great long term investment for those seeking returns.

Pelle,

Oil production is traditionally defensive sector. I guess we don’t appeal to the type of investor that we used to.

Good news is if we are all correct then we will see great returns over the next couple of decades.

Equinor still involved with Bressay. Maybe they will be interested in a broader development.

To do it properly would be a couple of billion IMHO. Maybe a couple of fixed wellhead / water injection / heating platforms and keep kraken for floating storage. Power the platforms from shore or renewables, and export gas to kraken for the turbines to keep ESG mob happy.

For some reason I can read FT articles if I access them via google search!

Anyway for those that don’t have access, it notes the disconnect between bullish oil forecasts and oil equities. Suggests it is due to long term uncertainty on supply /demand. Could be huge gluts or supply crunches in 5 or 10 years time. Oil traders make money either way so not much bothered.

My view...Longer term hedging might help us, though it hasn’t done much for TLW. For us, if we can hedge 3 years at $80 then we are debt free with low cost production, and enough cash to take a longer term gamble and start developing BBK.

https://www.ft.com/content/4acd0a91-f7b9-4c10-bbd8-d15f1cce76f0

Enjoy the game BD

Yes the deal is an interesting development as I have commented (still think they were disingenuous with timescales - it’s a tiny deal so why the delay?)

From reading the EAG website it sounds very familiar. Seems these great deals the BOD have been lining up are basically buying someone else’s ideas!

We also seem to be paying a million pounds for 50% of a million pound asset (ie we are paying 500 thousand finders fee to the director of EAG?)

Yes the BOD need to be grilled on these Gneiss fees. They brushed it off last time.

We need to know if any money can ever be made at this low market cap, while supporting a superstar wages BOD and consultancy mates.

Huge placing is needed IMHO to give these guys some money to invest. Raise say £30 million at 0.5p to fund some proper investments. A million pound investment is not worth the effort IMVHO.

ENQ looking very strong.

Brent looking for a strong finish to the week to set us up nicely for prospectus issue next week.

Lol well that little spike up seems to have caught the traders out!

We might finish blue at this rate!

I would be very wary of the likes of AA as well. This guy was pumping the stock when it spiked up to 2p a month or 2 ago.

Frank - look at recent trades and buy / sell volumes.

It’s all sells!

SP movement doesn’t lie either.

There is sustained selling pressure. Could be the drip drip at HE1 or perhaps LTH just had enough?

Oil is on a knife edge IMHO could see a reasonably big move down today if it doesn’t hold here