Member Info for mrc_mrc_mrc_mrd

Looking like we might be headed for >10% rise today.

ENQ has some catching up to do. Excitement building for sure IMHO.

It's really not a complicated calculation L3. ENQ making more than enough cash in the next 10 months to pay off the RCF on time if you take available cash into account.

I think 50 posts on a Sunday tells you that excitement is building for ENQ!!!

Yawn, more obfuscation from L3. He had obviously not loaded up fully yet.

Livin - perth can and probably will be developed as a tie back to Scott. This SIG was formed in 2017 but it does not dictate how companies develop their resources. It allows sharing of information as far as I understand it?

We know for a fact that PMG were pursuing the scott option in direct negotiations with the scott partnership led by the operator of the scott platform (CNOOC) this involved engineering studies commissioned by PMG / CNOOC.

Interesting link - thanks

Interest likely not included in that figure

Hi therapist - yes that is FCF BE as stated in results.

So capex included

Thanks Gurun - sounds good to me!

Even if we lose a couple of dollars to dilutant to get the sulfur content below 0.5% that is still a very tasty premium!!!

Is bressay similar characteristics? Could make it easier to convert!

Thank you brevet.

I see the conversion assumes that 1 barrel or VLSFO is equivalent to 1 barrel of Kraken crude. I'm not so sure it is that simple...Kraken crude contains higher sulphur content for example so does require some dilution.

I'm sure there will be other chemical differences which will make it more or less valuable for VLSFO blending.

That said, I do think they are broadly comparable. Just wondered really if someone on the swedish forum had gone into more detail. I remember we used a similar conversion factor on this forum last year.

Chilting - disagree with you there. Banks are not going to consider barrels which are not even classed as 2C.

These are not simple tie backs.

It's a great future prospect for equity holders but banks will not take the risk.

Laid-back - current yield on bonds is over 10%

Not unreasonable for new finance to be around that interest rate.

Love that story son of! He pretty much has I think! Obviously gets his salary back out but most of his capital from the dana sale must be tied up here. Especially after putting the farm assets into PMG at 50p!

Anyone getting in below 50p will do very well here IMHO.

I would buy more but I am already extremely overweight here!!

Oil looking like it is coming back into favour now. Could see a decent bull run. TC unlucky the way the cycle has worked out this time but to be fair he has protected the company and we are still here with a big bag of cash ready to develope our considerable assets.

I expect that $27 will be beaten to be honest...they are usually conservative with targets. Under promise and over deliver.

Dodger - the company have guide breakeven at $27 per barrel. That is the point they are generating cash to repay debt and includes limited planned capex.

Just depends on your view of oil prices, hedging, and volumes.

Thanks HM - very tasty if we are getting $60 on kraken cargoes!!

Don't think the market is expecting that!

How has that conversion factor been arrived at?

GKB is nothing of the sort - he held for too long last year and sold out at the lows. He didn't take Covid seriously and paid the price. Now he is on here bashing science, or posting up fake news about vaccines.

Agree - hedging in 2020 would have been the wrong strategy in 99 out of 100 years.

This year I think enq need to be brave and ride the POO. Kraken premium provides a little extra comfort. Best thing would be if they can announce a new facility or extension to existing facility soon which they can pay back comfortably at say $40 brent.

At this point I feel enq SP has high risk strategy priced in. SP might go up a few pense if hedging can guarantee repayment of RCF. If no hedge we are free to rise (and fall) with brent.

Getting very positive on the board now, and the odd disgruntled former holder like GKB the only negative voices!

Another slow and steady build to start the year?

Recommence the January 2020 take off sequence?

Lot of people made a lot of money here last January and hoping for a repeat. Could see a lot of people piling in!!

Lol GKB

I see you don't bother to read articles you link to?

Doesn't support your view on the AZ vaccine at all

Rifl

Great news as we go into the new year. thanks therapist and all contributors during 2020!