Member Info for mrc_mrc_mrc_mrd

Excellent, right on schedule.

The case was brought by ENQ but on behalf of the terminal owners. It relates to the time before ENQ became operator. I don’t think ENQ will benefit too much directly, but good to resolve it nonetheless.

Don’t think this one was ever material for ENQ

Give it a rest QfO?

Do we really need you constantly parading your recency biased and facile opinions?

Wow thank goodness we have your pearls of wisdom.

Quest - plenty of companies invest elsewhere in the world. If you don’t like North Sea oil a then I wouldn’t invest here.

Bye

https://www.energyvoice.com/oilandgas/north-sea/480196/ed-miliband-labour-north-sea-oil/

I’m not sure the government are strong enough to do anything other than the easy option of pandering to labour.

A floor would be a good start.

That is all.

Romaron

I personally don’t see a fuss being made of developing Bressay and Bentley using existing infrastructure. It will make Kraken Barrels more environmentally friendly by providing fuel gas (and reduce our diesel and carbon costs). I suspect it is probably still a very worthwhile development for us even with the EPL and uncertainty. I wouldn’t be surprised if we submit a FDP soon.

Not all 2C is equal (though you may be right about it all being valued at zero). Enquest has the means to convert resources to reserves.

I wonder how they will justify keeping Dougie on the payroll now that Ruvuma has gone?

The maggots might hollow this bloated corpse out this year at the rate they are going. How many directors do we have now?

These 2 clowns are uninvestable

If they can’t get this placing away then surely that is the end of the road for them?

To be fair we got absolutely hammered for having debt. I don’t think it is unreasonable for AB to stick to that target. Plus dividends were impossible up until October due to bond conditions.

AB should be in a position to set out capital allocation at results time IMHO.

Seems that big double has sold up and moved on?

Same old broken drum getting beaten

This guy along with Alistair needs to be removed. Simples.

Wow, £2m revenue and market cap of £578m

And they have been at it since the year 2000….

Plans could soon be revealed for the Enquest producer and Bressay/ Bentley. All quite low cost growth drivers that fit the capital light strategy.

EP could be our buy in to another development with Bressay tied back to Kraken.

Here is JS back in March last year - https://www.energyvoice.com/oilandgas/north-sea/rigs-vessels/398087/enquest-pursuing-various-options-for-bressay-and-bentley-prospects/

Potentially quite exciting times ahead.

My view is we will see 40p in the 1st half of 2023 if oil prices average above $80.

There aren’t any negatives left for the headline writers IMHO (other than the EPL hit).

- Production up (higher end of forecast)
- costs below forecast
- debt down
- profits up

I expect forecasts for 2023 to be flat on 2022. Perhaps higher capex spend.

Shareholder returns could be the catalyst for the rise.

https://www.theguardian.com/politics/2023/jan/27/tory-donors-own-uk-properties-via-more-than-150-offshore-firms

Robs - platypus would have been a game changer.

- near term development
- simple development plan
- good percentage for PMG
- deemed to be affordable (obviously not so much given decomm news)

Tom couldn’t make it happen sadly.

Perth I think is unlikely to be developed. Certainly not anytime soon. If it does happen then a Placing required, or potentially just a big loss of equity in the farm out.

Some of the spend won’t need to be repaid (Ruvuma cash calls), however we know that the BOD have been using the loan for general corporate costs, so these will need to be repaid.

Once the deal fees and taxes are deducted I think it is possible that SCIR will need to sell the remaining HE1 stake (if still held), or raise funds via a placing, just to keep the lights on.

What a mess