Member Info for mrc_mrc_mrc_mrd

Coming.

China vaccination rates and one shot vaccine.

US and Europe getting back to normal.

Local Wetherspoons busy today despite the bad weather.

Frank - they have a liquid asset they can sell quite easily. Will they get a price that covers the drill? If they get 20p then they are pretty close to it, BUT CoS is only 30%....

All I am saying is they should sell HE1 now.

It is non core and it has more than exceeded everyone’s expectations based on pure speculation. Does it have any more to give? Maybe...but risk reward not attractive IMHO.

Hi KO - I’m still in - don’t think there is much downside in either Brent or ENQ in the short term.

Brent might see $63, enquest might see low 16p again ( I don’t think we will see 15.3p again which is where my last buy was!

What do we think? Potentially a larger pull back after failing to breach $70 at the second time of asking?

“In economics, things take longer to happen than you think they will, and then they happen faster than you thought they could.”

I doubt there forecast will come to pass.

lol, just commenting KO

Can’t see it being too big an issue as we have excellent hedges. Just delays the bonanza here and probably keeps shalers in check!!

Maybe concern about variants is what’s keeping a lid on oil equities?

I get the feeling Brent could **** the bed again.

Asian situation not looking too clever as they have terrible vaccination rates. Masks and distancing might not cut it with the Indian variant.

Doubt they are selling after announcing their remaining stake yesterday. Feels very much like that is what they are leaving on the table.

Shame as it means SCIR is not fully funded yet for the next 12 months.

Chilts - you are moaning not debating.

You are saying you don’t get enough information about the medium to long term plans? What exactly do you expect?

Pelle is quite right that you had the opportunity to have your question responded to personally by AB just last week? Where were these questions then?

Was it 2 weeks ago you bought back in? Mr long term holder. 2 weeks ago oil was dead to you. Now you are looking at a 5 year investment in ENQ? Not credible mate.

KO - the plan is pretty clear to me. Debt reduction, short cycle investment in existing assets, potentially some small bolt ins at the right price.

Growth? Unlikely in the near term. Best case maintain production around 60-70k IMHO. They are constrained by access to capital but so is everyone else.

Do we need speculation from AB on which projects are currently in pole position? Personally I think that sort of thing is detrimental to long term holders.

KO, Squif - you made a really bad investment decisions it seems! Very poorly timed entries.

Did AB twist your arm?

Fair enough - you are generally positive and post quite a lot recently so I assumed you were a new investor. Sorry it hasn’t worked out for you.

Obviously I have no trust in the BOD, and I think others should definitely look at them with a critical eye and consider whether they are the right people to lead the company. All is not lost here in the right hands...but the BOD has had 3 years to turn things around.

If you invested when the BOD took over you would be 50% down now. Or looking at it another way, if you had sold when the BOD took over you would only be down 80% rather than 90% down. Without even mentioning the opportunity cost!

That is a bad record for a BOD that was hailed as the saviour of the company.

To clarify...

Does anyone actually think the BOD have done a proper valuation of their HE1 stake? Risk reward analysis to justify holding? Do we think anyone in the current BOD is competent to put a value on the stake or even know the first thing about helium exploration?

Do they even read the announcements that they copy and paste?!

Some of you guys are happy to gamble on it being the big one, but SCIR actually have more to lose because they are borrowing money from the work programme funds. If they can’t fund the work programme they become a distressed seller and the Ruvuma asset is picked up for nothing by the JV.

It is a massive risk.

Hi shoulda.

That’s my point, we are not trying to be an exploration company. We tried that and it has been an unmitigated disaster, wouldn’t you agree?

These assets barely get a mention on the website!!!

The BOD are all over the place with their strategy and their behaviour. Strategy says nothing about legacy assets funding the renewables ventures. They thought HE1 was worth less than 3p a few months ago! Why not take the 7 bagger?

Actually they have not made anything yet because the original investment was about £2 million unless I am mistaken. So over the 5 years of investing in this asset they have made a return of zero. Not accounting for the BOD time wasted over the years to bring it this far.

Yes it is great that there is more cash in the bank but should they really be gambling all of the paper profit on a drill with 30% CoS? We need the money to meet the CH1 commitments this year. If it goes boobies up at HE1 then a placing or drawdown of death spiral package will be needed at SCIR.

On one hand we are supposedly becoming a nice safe cash generating business with very low returns. On the other we are risking the money needed to buy these new assets on wild cat drilling!!

The BOD strategy is all over the place!!

It needs to bag just to get back the value the BoD have destroyed.

The BOD need to come off the pot.

Pick a strategy and deliver it. For me that is sell HE1 entirely. They then need to make a decision about what assets they can afford to fund. Can they really fund CH1 and new assets? I would suggest not.

The market is not impressed with the BOD who have achieved nothing in the last 3 years except some pretty lucky divestments, tempered by consultants expenses.

The BOD do not have the skill set to run a tiny company like SCIR. They need to go IMHO.

Seems the BOD are being greedy and plan to hold the remaining stake.

Imagine how well setup SCIR would be for CH1 with another couple of million cash in the bank?

These BODs can’t get anything right

Squif - over 5 year timeframe ENQ has outperformed our peers.

Thanks - not really news of it doesn’t warrant an RNS. Did anyone think this certificate might be a problem? Or even know it existed prior to the tweet??