Member Info for mrc_mrc_mrc_mrd

It does feel like we are on the verge now, despite nothing material in the Interims.

Are you regreting taking all your "profits" from the rights issue in 2020?

Agreed - he has just committed to buying even more shares in the OO.

To be fair I think he has done a very good job to keep enquest afloat in the last 3 years.

By the looks of it

Stonking

Chris - I tried and failed I'm afraid. Why shout about this on an RNS then put a bunch of hoops in the way?

Chris - I see this as very much an upside case. I would put a sale for $20 million at less than 50% chance any time soon.

Meantime money is constantly going out the door.

If the $20 million does come through....what the heck are the BOD going to spend it on? 2.2p would only be achieved if the BOD wind up the company and return all funds to SHs IMHO

Tom - you sound really inexperienced and muddled up.

Maybe you should invest in something a little less sophisticated? Maybe some low risk managed funds?

No advice intended!!

They don't think much of SCIR

Doubt it small man

She is an old girl but much work done on her when enquest took ownership, including to the marine systems.

That said, she was destined for the scrap heap before enquest made the disasterous decision to buy her.

Am I right in saying they paid $50 million for the hull in 2012?

I would guess a couple of hundred million. Probably better if ENQ can re-use it themselves as part of a farm in.

Open offer is preferable to a rights Issue IMHO. RI often seen as desperate.

I believe this time there is a placing element and OO element. My expectation is that new investors will participate. This is a good thing. If an II wants to take a stake my preference is for a placing of the full 50 million at zero discount with no participation from existing holders.

AIMHO

You sound like you need to get your tin foil hat on.

Get a grip.

Some of you lot are making a right meal of the FCF calc.

Large container ships could burn 1000 tonnes of extra fuel on the cape detour. Could be more if they go full steam to keep on schedules.

1000 tonnes is around 6000 barrels

https://www.imarest.org/themarineprofessional/on-the-radar/item/5663-suez-proves-too-costly-for-some-as-ships-take-long-way-round-the-cape

“CMA CGM Alexander Humboldt is located west of Africa as its journey from Algeciras to Port Klang on the FAL-1 services bypasses Suez and instead takes the long detour around Africa,” reported Lars Jensen, a consultant with SeaIntelligence, at the beginning of March. “The trip is normally scheduled for 21 days but will in this case take 26 days.

“The trip is more than 3,000nm longer and the speed is increased by more than two knots for the journey despite the added 5 days to the schedule. A very rough approximation would mean they use 1,000 tonnes of extra fuel.”

Caterpillar are one co saying they will be air lifting.

Impact significant I would say.

Also greater utilisation of shipping capacity to account for longer journey times avoiding suez.

Great time to be selling VLSFO.

Hitman - the ENQ SP rise very rapidly and needs time to consolidate before a significant move up. Many will sell to take a large profit off the table, and others will sell because they panic when the price stops going up.

Once we clear these people the balance shifts to new investors seeing a bargain and up we go again. Could sell at key points - 30p seems likely in the not too distant future where there might be a pull back again. All in my opinion.

Lol primary bid

Give the BoDs a bit more credit than that please Chilting.

My view - opportunity to buy a large stake in ENQ for someone. My preference would be for no PI involvement - get some IIs on board at prevailing price or a few percent discount.

https://www.bangkokpost.com/business/2090131/suez-blockage-sets-shipping-rates-soaring-many-tankers-diverted

Chilts - all we need is cream from the top at this valuation. Wouldn't take a large dividend to make the current price attractive.

Sounds like we will be getting that cream sometime next year based on $60 oil.