Member Info for mrc_mrc_mrc_mrd

https://www.indiatoday.in/diu/story/reducing-oil-dependence-india-s-crude-oil-production-on-slippery-slope-1772638-2021-02-24

Agreed Juanes - looks like brent is about to have another crack at $66.

Full bull mode now I think.

We will see all the money flowing out of tech I to commodities accelerating IMHO. I'm calling ENQ 40p in the next 6 weeks.

https://www.bloomberg.com/news/articles/2021-02-24/whispers-of-100-oil-return-as-crude-shakes-off-covid-s-clasp

This is absolutely flying now. We are all going to be stinking rich IMVHO

I don't know if there is a fee per RNS, but there is certainly a cost in preparing and issuing an RNS. Not very efficient to go through the process multiple times when once would do.

Maybe they don't have anything better to spend their time on.

You may think it is a trivial cost, but we need the BOD to take ALL costs seriously. Today's announcement has added no value.

A cynical person might think they are spreading around red dots to get SHs all pumped up and excited before a placing

Excellent news Therapist. I make that 14 days. Brings to an end our nice run of 12 dayers but still acceptable.

Pretty sure they do AA!

Jump on the bandwagon

https://www.reuters.com/article/us-global-oil-research-bofa-idUSKBN2AN1F5

RNS's cost money. Why didn't they have this prepared before the last announcement? Or announce a live webcast to go through the slides. that's what a real BOD would do.

Interesting on the IG comment Chris.

I use IG but to be honest it is barely worth it for SCIR and AIM in general. I think currently the largest position you can hold is around £4000 per point at 25% margin then it goes up to 40% for SCIR. Can make better use of leverage with 20% margin on a ftse share.

I have a small spreadbet on PMG for trading interest which thankfully is unaffected. It's another one that you can only risk a small amount at 25%.

Anyway it could be affecting the SP here. It will force sells or will dry up funds that might have come in here.

Yes I hope it will be a good one. I think unlikely to lead to 10 bags (maybe fund Ruvuma, which could?). Positive cash flow will be no bad thing for starters.

AA - I didn't blame the BOD for the spread. HOWEVER...if they had not destroyed so much value over the last 2 years we would not be in this ultra small cap very lightly traded category where the MMs can have such fun

Yes it doesn't attract investors when you have a monster spread. Not to mention a management team taking out 20% of the market cap every year. A positive of equity / debt will be that they hopefully move into a new league that justifies having this expensive BOD.

Chris - I have been a cynical voice since I joined LSE!

Also - the selling price is now only 5% above what anyone could have ever bought shares for! It's only 50% if you bank it

Chris - I think the problem is that they have not issued any news. Same old jam tomorrow pumpy pumpy. Maybe I am too cynical but this feels like it has been an attempt to pump the SP prior to a placing

Yes a bit of smoke up the butt hole to try and revive the patient!

It's shameful. Let's hope something comes of this "news"

Absolute disgrace the way this company is managed IMHO. Typical Malcy share.

AA - it was a sell when oil was at $35 and debt was looming. Those risks have gone. So yes, for me it was a sell at 10p but a buy at 11.5p...the market is slowly realising how undervalued this is.

Dodger - generally I would agree with that analysis. Prime example was SCIR which blew some hot air up it's shareholders bums a few days ago. Talk of 10 baggers and 100 baggers ensued when the MMS moved the price up by 50%. lMFAO

There is some excitement emerging here but I do think this still has some re-rating to go just based on fundamentals. E.g. FCF, debt restructuring, cheap acquisition. Fair risked price is closer to 30p IMHO with further upside if POO stays at these levels or goes higher throughout 2021. We were at 30p last year and really not much has changed when you balance out (less production but better BE, similar debt)

Lol, this is the guy that was screaming sell since 11p