Member Info for mrc_mrc_mrc_mrd

I find the arden research a good read to remind where our assets are and potential news flow.

https://www.parkmeadgroup.com/uploaded/research/Arden_Partners_Research_25.06.2020.pdf

"Inclusion of Skerryvore is based on the strong view of Parkmead management that this could be drilled by late 2021"

Thanks the beef. I've seen all of the bluster from the Indian government in the press. I expect they will mount some sort of legal challenge, though whether any court will allow an appeal as such I am not convinced.

It's all very well to be outraged about how much tax companies pay, and it won't feel great for Gov of India to hand over the cash when they have major issues at home, but at the end of the day they do not have any good legal arguments.

A US court recognizing the award could be the end of the road for Gov of India. Hopefully get that fairly quickly. Like you I think we will get the award eventually, it's just a matter of when.

Also agree they need to start spending on growing production.

Driving season this year is going to be an absolute stonker!!!

Iron - I would take the oil price.con articles with a pinch of salt.

Of course opec+ will raise production. Demand is coming back strongly it seems. We are all here for the massive rally over summer. It's only just begun.

The main man is making a big move into oil.

Good enough for me

Ok, well I have re:read it and can see nothing material. Just the same old promises with some new shiny slides. Just wondered if I had missed something.

From what I can tell a name change, same useless BOD, and now aspirations to enter a new sector that is starting to look expensive and doesn't have very good margins...

I am pretty baffled by the spike but have been around long enough to know the market doesnt always make sense.

Hope it all works out for you and Chris. I will keep an eye on SCIR but out for now.

AA - anything other than the SP?

Hi AA - if it is sold next week the read through is $20 million. Not a huge dent in this £150 million pounds.

Great if some of this stuff comes off, but has anything really changed since last week?

Steve - please get real - the BOD have promised £150 million EV in 3-5 years. It is highly likely that a significant amount of that value will be debt. You are also assuming that no new shares will be issued to get to that MC.

This is the same BOD that promised a MC of £200 million ++ within 3 years (2 years ago). MC is sitting at what, 8 million now?

What you are saying is not credible.

The company has a good asset, but it is years away from monetizing it, if it ever can.

The Vodafone dispute was in the ICJ. The cairn dispute was in the PCA.

I don't believe there is any appeal mechanism for the PCA. The parties agree at the start to abide by the award. (I'm sure there will be other legal frustrations possible, but an appeal of the arbitration doesn't seem to be a route)

Beef - you say an appeal has been filed - can you point me towards that announcement? All I have seen is that Gov India are considering an appeal.

I'm feeling lucky

A 10 bagger based on what exactly?!

A powerpoint with some green in it?

Well said HMH

A storm of swedes

Hi KO, no offence intended.

You just seem to have these wobbles when the SP starts to look like retracing, and get super gloomy. You tell us you are a LTH but the way you post is as a hindsight trader. Why would you care about daily or weekly movements? Surely any retrace fills you with joy because you can add on the dips???

Techno - by taking part in the arbitration my view is that they have already accepted it's jurasdiction and agreed to abide by the result.

If they felt the PCA could not rule on this then it should have been challenged 5 years ago.

Hope you got back in KO - you missed the lows this morning around 16.5p

Not many willing to sell below 17p IMHO

Steve - EV is debt plus market cap minus cash.

So in this case it is basically what they expect the market to value the assets at in 5 years time.

If we take on $80 million in debt then equity would be worth $70 million to get the EV of $150 million. Of course there will likely be many more shares in issue to get to that equity valuation.

I don't know many small investors that are dropping hundreds of thousands on a single trade Chilts.

I don't doubt it's the little guys that are bailing now. We are in aa rising market with great macro sentiment. A few dollars off Brent is hardly a disaster given what we have been through, and are still going through.

Let them take their little profits, and leave the big profits for me.

It's sitting around 5% down on a 2% drop in POO. Seems like a reasonable reaction to me.

Will our buyer be bothered?

We are still way above the POO almost everyone expected in Q1