Member Info for mrc_mrc_mrc_mrd

I do think they need to improve the optics here but I am willing to give them another 6 months to make some progress. Hopefully the finance is only in place to protect the company and an asset sale or alternative funding can be secured so it does not have to be used.

I have been reading the website again and they certainly write a good CV. The main concern is that basically we can't afford these guys who come from BP background where budgets are huge and accountibility shared.

They need to understand that you can't spend 50% of the market cap in 2 years on fees, salaries, freebies for directors. Especially when no progress has been made.

Romaron

Yes the reserves downgrades could have a material affect on the SP and I will be watching for that closely in the ops update.

So potential stinkers that AB could release:
1. Reserves downgrades
2. Bad hedging
3. Production target declines for 2021
4. Equity funding for a deal
5. Equity funding for debt repayment
6. Fire sale of assets

Anything else you can think of?

And of course we are always at the mercy of POO

ZFG - I have held enquest for some time now.

I think we are likely to see some short term pain in the next 2 months but I'm holding firm and will only sell if the SP drops back to below 12p. I hope we will see a strong rebound but the ops update could pour cold water on that!!

Just re listening to the CNE presentation rom last September. Two items of concern that I haven't seen discussed here regarding Kraken:

1. Production declines forecast in 2021
2. Diesel is still being used for power generation.

Whilst not a disaster this has now dampened my enthusiasm for ENQ! I will hold for now but don't expect the rise to come now until brent gets over $60. Maybe around March time all going well.

Good price papalazz. My average is about 2.11 which I am happy with. It will be a hold for results for me. I made some serious cash with that strategy around 10 years ago.

I must admit I have a little more confidence now BD has been on their case and rattled cages. I may increase my holding here in the near future as well IFF we get some update to the STRATEGY. Currently the strategy is in ribbons as far as I can tell. If they are putting all their eggs in Ruvuma for the next couple of years that is fine, but it is confusing to have a website which says otherwise.

Big Double, Chris, AA,

What are your thoughts? Worth pursuing further or give them the benefit of the doubt for another few months?

Hopefully AB won't drop a clanger this year!!

Previous updates have left a bad odour!

Lol, anyone getting the impression the PR company and BOD are rattled?

No doubt they will take their pound of flesh.

At least we stayed above 13p!!

Hopefully won't get a gap DOWN on Montag

One thing I would like more detail on (and see no reason they cannot provide) is the HE1 IPO.

That appears to have been a very dilutive and therefore expensive way to raise the funds for drilling. Somebody screwed that up if Joe public are willing to pay 8p the day after it floats. Who did the valuation? And were the BOD consulted?

No I was talking about my original 11.5p purchase I made a couple weeks ago. Hopefully we won't drop that low as I did have a very tasty profit :(

It's all looking a bit bleak again. Maybe I should follow the crowd and get out to fight another day

Governance here seems to be very poor. Perhaps we need to get some new NEDs in to hold this mob to account and control the purse strings.

I would really like to know what they feel they have achieved, and what value they have added.

Broadly agree with the comments here. It is a very defensive reply. The worst part for me is their refusal to sit down with you and look you in the eye.

Oops maybe bought too soon :(

Thank you big double for taking the time to email and post up your findings.

AA - I have suggested before that you should DYOR. Who knows what motive these guys have with you as they lead you by the hand!!!

Personally I think you will still do ok out of ENQ. Just a short term dip I hope on the journey to 18 pence!! AIMVHO

Anyone selling now is a damned fool IMHO!!!

News any day now? remember this usually waits until 1400 before rising up...could easily end the day blue. Would certainly be very bullish pattern if we did!!

It is raining blood out there today. Looking at the chart we could see 12 to 12.5p in the short term and a bounce around there.

Steady as she goes.

Lol, I am certainly not a long term holder, poor bast**rds!!

Chilts - yes it's no problem, my tongue was in my cheek.

I expect to drop down maybe as low as 12p but not worth trading as it could gap up at any time