Member Info for mrc_mrc_mrc_mrd

Bye bye Chilting, I will believe it when I see it.

Doyle

There is still significant decomm expenditure in 2023. The 12.7m was spent in 2022

“The final remaining subsea infrastructure will be removed, and recycled where possible, throughout Q2 2023.

Decommissioning activities on the P1242 licence (former Platypus wells) commenced in March 2023.”

I don’t think the delay was in the hope of a floor.

I think sign off will have been delayed by clarifications back and fourth about the new tax (as it stands).

I’m not expecting another delay.

The market cap here is crazy. With £25m in the bank we were sitting pretty, but it’s all going on decomm. We are sitting on a drill that we can’t fund, and a field development which we can’t fund.

Costs are high and can’t even be covered by the bonanza gas and electricity prices.

Chances of success here now look very slim to me. Certainly not worth a punt at this market cap given funding requirement.

I clicked on politics joe interview with GM and he describes himself as a journalist and environmental activist.

The finance bill is at committee stage where amendments can be discussed and selected. Maybe see something added in the next few weeks on a floor.

I see only decline for existing shareholders. The cash is disappearing on decomm.

50% of a skerryvore drill will cost a pretty penny. I wonder when the placing will get away? 30% discount?

Why would anyone resign when they are getting paid, and uncle tom is in full control?

https://www.energyvoice.com/oilandgas/north-sea/493630/cambo-very-difficult-to-sanction-without-windfall-tax-reforms-warns-ithaca-boss/

Childling - I disagree.

The public have higher priorities now than climate change. COP26 was probably the high water mark. Fatigue has set in.

Rishi is in the ascent now. The floor price has been widely trailed and I will be surprised if it doesn’t come in. Well played not including it in this announcement I think. Leave this as the green day and sneak in the floor price as prt of the finance bill (which it needs to go into anyway)

I can see it just going in as an amendment to the Finance Bill

https://bills.parliament.uk/bills/3435

Nobody is asking about LPG Childling

Exactly 34. No point in doing things half way. Labour will bash them for any floor so May as well just do it according to some actual long term norm.

The aim is to solve these funding problems so my feeling is that a floor will be at least at a level where banks are lending at the levels they were willing to before EPL

Banks have pretty conservative oil price assumptions so I don’t think a low floor would be too much of a problem. I think anything below $70 would be hard to justify anyway.

It’s worth what the BOD tell us they were offered for it. It will probably be worth even less now. It is no secret that SCIR are penniless unless they get a deal through. Very motivated seller.

If it reverts back to us then $6m becomes due and scir become insolvent imho…

Negative perhaps once the loan gets called in?

Delays are rarely positive

Fossil fuels have broken wind. We now have a situation where those in the southern hemisphere have trapped wind.

Lol thanks Romaron

Should have known fossil was responsible for the intermittent nature of wind.

The drill should have been completed in early February.

Something gone sideways I guess?