Member Info for mrc_mrc_mrc_mrd

I think a full development will happen.

$200 oil is getting called by Russia and Nigeria due to chronic under investment.

Could see double digit %rise today

I’m not bothered about the $50 million raise, but don’t think it will be needed. $600 million should be enough to consolidate the debt and pay for GE along with FCF ytd.

Maybe The new hedging strategy is to appease the banks and avoid the raise?

Great news, another tick in the box. Prospectus can’t be too far away now.

IMHO the recent rise in SP from mid 30s to mid 40s is solely on the gas price increase.

I expect platypus and renewables this year, Dutch drilling next year, potential skerryvore drill next year.

Maybe GPA next year if POO stays high and CNOOC have a big budget to spend.

They can also sell HE1 stake easily but seem to have made the choice to gamble on the drill.

They will look like plum dumplings of it goes against them.

Wow SHS!

Ruvuma is the last great hope for SH!! It’s worth $20 million dollars we have been told! And the BOd are in discussions with interested parties if you believe them.

All I am suggesting is they could make a call on that to accept say $15 million which would more than double the SP here overnight, and give the company a war chest.

It would be transformative.

These are the types of choices that are probably in the BODs power.

They seem to be going to the route Chris has advocated and holding on for a better offer.

If it is unsaleable they do also have the option to walk away and save on future licence and appraisal / development costs. Personally I think they could get something for it.

Oil prices fell on Thursday, reversing early gains as traders were spooked by incorrect reports that the United States lifted sanctions on Iranian "oil officials."

It’s not up to suppliers to reduce production. The demand side is the problem and requires private and public help to remove demand.

That is what is so irrational about the demonisation of big oil. Much better to have well regulated western supplies.

It is interesting.

I note siccar point have submitted plans for Cambo with first oil scheduled 2025 and 25 year design life.

There is clearly still appetite for offshore developments.

We will move up sharply at some point I’m sure. Daily price movements are pretty meaningless at these volumes.

Great news eh KO?

Lol

I’ve had enough of KO now. In the filter box with Squif and gkb.

No doubt we will get protests that he is a frustrated LTH etc etc.

L010

It’s not complicated. ENQ have been layering on hedges as the price has been rising. The hedges at the start of the year had an average floor price of c.$53/bbl and an average ceiling price of $62/bbl. The hedges added later had much higher range and have dragged up the average range for the year.

If they are adding more now then the range will be say $67 floor to $77 ceiling and average for the year will rise again.

I blame Enquest for stating the 9 million barrel figure. It is meaningless. A useful historical figure would be average realised oil price.

There have been hedging losses so far this year I believe when oil first went up to $65 dollars and we still had hedges in place at $63 ceiling. The floor is obviously good as insurance, and really the ceiling has been quite well judged too.

I’ve marked your words as a lot of deramping *******s.

Stop your whining

Deramping on an up day in a bull market shows desperation.

Some of these guys are likely to be watching their money disappear, maybe getting close to getting stopped out on margin.

Always best to be on the side of momentum. We are just at the start of a potentially years long commodities bull market. Even if you think a company is crap, it’s a huge risk to be short.

Out early this morning lol

GLA

Why don’t you put a hole in it, you balloon.

You are really phoning in the trolling these days.

WTI sitting over $70 as well.

All looking good for a run up to 75/80 where I would like ENQ to load up on hedges with ceiling low 80s and floor high 60s.

TLW has really outperformed ENQ this year - hopefully once we get the finance sorted we will catch up.

They are sitting up 102% on the year and we are at 60%.

So all things being equal we should be at 23.5p.

I would argue we should outperform them with the great GE purchase

I have 5 or 6 companies on my watchlist but I’m the same...can’t see past the value here.

Maybe the next leg up on Brent will finally bring the money into equities?