Member Info for mrc_mrc_mrc_mrd

Chill out kracket

Great company here ??

I'm going to go and remind myself of their salaries now - you are right of course about 3.5 million being a big deal, but I think at the time we had a market cap of about 20 million?

We need an entrepreneur. These guys all look a bit slick for my liking. A NR character is actually what we need right now to do a new deal.

These ex BP guys are dinosaurs. The north sea is a brave new world these days.

Just had a read through their profiles.

I think what we are missing is a deal maker. Lots of pen pushers on the board that have been involved in deals but IMHO we are missing someone with that x factor.

Haha, fair one CPerkins.

True the UKOG share sale was a good move, but it was peanuts, and I'm pretty sure it was an easy deal to make. UKOG wanted to own more of the asset, and it was obviously non core for solo.

I'm just curious what your experience is of the BOD before they joined solo - I think you have talked in the past about how high quality / respected they are?

I could obviously do a bit of research myself...

Cperkin - I really struggled to understand your view on the BOD. All I can see is their failures at SCIR. Can you point is all to any deals they have actually done that have been beneficial for shareholders?!

I am talking at other companies obviously as the performance here has been very poor.

Lol you sound like a right door knob rom

Thought about selling up but will see how it goes. Hopefully this new variant has just taken advantage of the lax english rules in the SE.

Remember it is only money.

Hope everyone is able to switch off and enjoy Christmas break, and things start to look better in the new year.

Seems unlikely to me - who would decide when it was time for a "cairn load". Much easier to split up cash.

I think a lot of the boys here would love to be taking a big load off TS out east

GLA - here's to delivering many more loads

Lol pellet, you have to read between the lines with IR.

Lol pellet, you have to read between the lines with IR.

Right you are Ammu

Not for the faint of heart at current POO.

Very high risk investment. Sophisticated gadgies only

Starting to look pretty tasty here.

Not much else to say.

GLA

Get a grip Romaron! Why do you care?

Enquest are a sort of mickey mouse company in my opinion. I've not met anyone in the industry who thinks they are very competent.

Looks like romaron got out of bed on the bad side this AM rifls

Very profound Pellet but don't base your investments on good feelings, or burying your head in the sand, in my opinion!

Hitman - $53 is a bit tight for my liking. No guarantees the RCF could be paid off unless volumes and costs are very favourable. And we don't know how much of the cash on hand can actually be used for debt payment.

Certainly not certain that RCF could be replaced with a new facility. Net debt is on the rise, we are rolling up interest on the bonds. Debt timebomb in 2023 - I assume bondholders and existing banks would have a say on new finance.

Bondholders the next to get paid - where is that money coming from in 2023. What oil price is needed to pay them?. I know you all think oil will be $200 etc etc

Yep...the clock is running down. Not a binary bet but not far off it - $60 brent pays off the debt, $50 brent sees a painful restructuring.

All my opinion.