Member Info for mrc_mrc_mrc_mrd

Scotties - I believe the wording is alluding to the sour nature of the perth fluids. They need to be removed offshore before going anywhere near the existing scott processing plant, pipeline, and onshore terminals.

There will be significant modifications to scott as part of the perth development.

CNOOC have caused a bit of a delay here, but very nice of them to sell up in a buyer's market.

Perth coming online is at least 3 years away, but hopefully a clever deal can be done soon that gets parkmead a share of Scott or some cash, and keep a bit of exposure to the GPA potential.

"Taqa management, who lost out of Marathon acquisition to RockRose, called them “total wideboys” in emails disclosed in court documents."

To be fair a lot of these new players are...

Indeed John - some people here not living in the real world which I have always suspected!

Very few free float here. Always moves quick.

Lots of TC loyal holding the line.

Malbrun - that's my understanding from when I was in this the first time the eneo supply stopped. Not sure if this time is different.

The Gov is a large shareholder in Eneo - 44%

I can't see anyone investing in a large public infrastructure project until the government proves they are willing to play by the rules and pay for what they use.

My feeling is that the SP is too high for my own risk/reward. Been here before with this company...imminent approvals and large contracts. Foo is out of the way but I think he did alright on that front. Just ripped the absolute arsse out of it cash wise...

All very nice L3trader, but tell me you're not serious, lol. That production is gone my friend. It was becoming marginal value even at $60 IMHO.

Haha, I'll just pull it out of your rambling post for those who can't be bothered reading the whole thing:

"H2 production will be lower which is good as I do not want to see 2P reserves sold at a low price. Better hold on to them and sell them at a higher price in 2021. "

Eneo owe GDC $10 million currently and we have cut them off!

I see eneo are also involved in this Aksa deal so that does not inspire much confidence...

Thanks Forrest! Looks interesting. Close to the pipeline but investment needed in a new processing plant could be significant. Probably more bloody presidential approvals needed to build all this as well...

Malbrun - yes this would be a concern. Government don't seem to be much interested in paying for their leccy.

Some research to get on with, thanks all.

RF, Happy,

Sorry I'm not up to speed with this Aksa. Is there any announcement or press that you could point me towards?

What sort of volume would they need, and how far are they from the pipeline?

I'm guessing a fundraiser will be needed if there are infrastructure upgrades (process plant capacity, pipeline).

Thanks

Just looking at the UKOG performance over the past year.

Our BOD have made some screw ups but getting out of the dream selling business is the first step on the road to having a successful company. 3 cheers for the BODs.

The update is a bit phoned in, but key thing for me are the gas sales more or less breaking even. If we were burning cash that would have been a concern.

Just need one of these projects to progress now to get the SP into orbit. Added some more today - under 30p seems very cheap.

Here's to a cold winter to get this gas price on our side.

Must say the financing has stayed my hand on this one. 10% just saps all the life out of this.

May buy on dips now that appears to be more favourable

Lol

spindok - thanks for the warm welcome.

Just an opinion...looking at debt coming due and projected FCF something has to give.

Unlikely to be a favourable financing in current environment...aimho

Perhaps you have another theory of how this debt gets refinanced or cleared? Is there a magic money tree?

This is headed for a fundraiser which is going to be a disaster for shareholders. Or a buyout below current SP IMHO.

Risk / reward just does not look good to me above 5p.

I looked at the wind farm bit when it was announced...it will be nowhere near the same size as next door, so wouldn't get too excited about that

I'm going to call that good