Member Info for mrc_mrc_mrc_mrd

Yes they could spin out a green company loaded with cash. That business is currently very early stage and tied up with SVT (an oil and gas asset). So I don’t think it would be very credible. Better to keep it in house and build up expertise using existing oil and gas skills base and infrastructure.

Further, shareholders need to see a return before ENQ start spending big on costly transition projects that may never return a profit.

In short, if you want to invest in pure renewables then invest elsewhere.

No Chilting - their SPs are valued higher than small independents because they are stable companies that pay a consistent dividend. US majors are valued 40% higher and have not embraced renewables.

Quest - because BP, Shell, Total have very small percentage of assets in the EU. They are European listed but their profits are largely taxed elsewhere. The EU listing drags these valuations down.

Tell that to BP, Shell and Total. Ploughing their profits into green projects and still getting paint thrown at them in the street. Partial divestment is never enough to please people. Fossil fuels are bad and that is all that matters. They won’t touch us until that (or public opinion) changes.

Lol Chilting, so religions are not part of the establishment???

Article today suggesting US independents may buy European rivals on the cheap and slash renewables. We reap what we sow.

The green movement is a mainly European form of self harm.

Thanks

Confirmation that the completion payment from Ruvuma goes to repay cash call.

£4m cash required to fund the next AD deal. Likely highly dilutive and at a discount to current SP.

This is looking increasingly desperate.

All in my opinion

Lol steve, I hope they don’t use the word imminent. It usually means the exact opposite!!

Just a PI paying over the odds IMHO.

We also tried to farm down Eagle in 2021…I think this fell through in the end but can’t put hands on that info.

Here is a link to the 2019 environmental statement

https://www.enquest.com/fileadmin/content/operations/Downloads/EHE8014_Eagle_Development_ES_Complete_Rev01.pdf

I guess uptake has been poor so they are trying to get existing PIs through the door now?

Anyone going to go?

Stevo - many thanks for your detailed workings.

It will be interesting to hear the capex plans from ENQ in the February update. There is a lot more flexibility this year, particularly in H2 once the bond and contingent payment is out of the way.

My view is they should crack on with Bressay as soon as possible. It is a win on several fronts if it’s tied back to Kraken and extends life, provides gas for power gen, and reduces per barrel costs.

Lol Chilting - so you are just ignoring the 70 odd percent of Scot’s that want oil and gas production?

You really are a pudding.

Great article and I like Andrew Neil ( or did in his BBC life). Shame it’s in the daily mail…

Also Hunt and Sunak seem ideologically driven to give Britain its medicine so overplaying the problems works for them.

Maybe the tories are letting the lie build up then they will burst the bubble around election time.

Maybe a nice montage of all the times he has said it, with the real figure for that week debunking it.

At some point someone has to bring up the fact that the figure is well out of date?

All it will take is for one party to break to our side and start putting across a more balanced and pragmatic view. I think the British public would listen to that but all they get fed is juststopoil Bol-locks.

I was thinking about running as a candidate for the Scottish parliament / U.K. parliament under a “produce what we need” ticket.

Steve - most likely suspension followed by relinquishment and liquidation as the loan would be called in.

It’s curtains if the deal falls through IMHO. I think more likely is the deal completes. But that $3m is likely already spent so placing required to scale the AD business.

Personally can’t see any prospect of a business until they raise funds.

Might be worth investing once they have cash to scale the AD business?

The guy is deliberately simple minded to provoke a reaction. hopefully he will go away now he has been fed.

Childling

In 10 years we may have hit peak demand for oil and gas. Likely no better than that.

You are conveniently forgetting the massive network upgrades required to accept renewables at scale.

Significantly reducing the cost of storage needs technology which doesn’t exist yet. The transition will take 50 years plus whether the activists like it or not.