Member Info for mrc_mrc_mrc_mrd

Stevo

Buying a producing asset shouldn’t affect shareholder returns. Debt will be used but the income from the asset will balance that out.

It’s hilarious what this BOD get away with.

Most shareholders now own a tiny amount and probably think it’s not worth voting.

Allows a select few to control the company with a large minority holding and make a lot of money through fees.

My view is that some of what has gone on here would warrant an investigation into whether the directors are acting in the interests of all shareholders.

I expect the BOD to win this one as well and we could see a rinse and repeat until all value has been stripped.

Veri is a wholly owned subsidiary and has an exclusivity agreement with SIC. They basically have access to a site that has pipelines shooting offshore, and a nice jetty for construction and offloading . It is also a COMAH site so wouldn’t imagine there will be any issues with planning consents.

If the existing infrastructure is used then the JV partners will get some income, or ownership percentages will be renegotiated I would guess. But anything Veri choose to build would be 100% Veri and they would just pay rates to SIC.

It’s a long term project…the work being done now keeps the existing infrastructure viable and prepares the site for some of these longer term businesses.

I wouldn’t get too excited about it but AB is doing the right thing and setting the company up for the transition…and the decades ahead

Https://www.energyvoice.com/oilandgas/north-sea/548221/veri-energy-boss-salman-malik-unveils-his-green-dream-for-uk-north-sea/

Seems obvious to me now that the transaction was purely to generate fees and salaries. Buy high sell low. Fees pay just the same. Outrageous really.

Perhaps downing tools is the only way for the public to understand the harm that this tax and policy will do.

We have to wait for production growth from existing profile. Kraken needs to get back to drilling.

I wouldn’t be surprised if other production assets are picked up by Enquest this year to accelerate tax loss use.

BTFATH1- they have used Puts so there is only downside protection. Enquest keep unlimited upside. So not really a negative!!

A good update…let’s see what the market and brokers think about it.

Get lost Troll

These guys have really had the shareholders tug them off.

I believe there is not enough kraken gas and therefore running on Diesel for the last few years.

Perhaps some flare gas recovery solution is being worked prior to getting Bressay gas import solution…say by 2026.

Why would Equinor get $30m…they relinquished any rights to agreeing a FDP when they relinquished their stake.

Bressay gas is key to decarbonisation of Kraken and removes reliance on expensive diesel bunkering.

You couldn’t Make it up.

Sell one asset to fund another. Then sell that asset too. Now left with nothing.

What an absolute disgrace this BOD and their cheerleaders are. Special mention to our ever cheerful Cperkins and Ariel Arrow.

None of these valuations are realistic.

Even our friendly “researchers” at Finncap reduced their valuation to 45p, and that was based on European gas prices of €110/MWh. Currently the price is €30…

We’re still basically talking about keeping the lights on sort of money.

Not only is it unpredictable, it arbitrarily punishes some participants and rewards others. Perversely the companies that are punished are the ones that add most value and are most committed to the UKCS. By doing this it disrupts the whole ecosystem and sends jobs and money abroad.

The tax has failed.

Cash needs to be returned to shareholders and the company shutdown.

Why would anyone let this company “invest” a single penny if their money again given track record.

Anyone who ignores what happened in 2020 is not credible IMHO. Tough decision had to be made to decommission assets that would otherwise have been viable for years to come.

Agreed - arrogant and recently making quite a few basic errors in his “analysis”

Any positive is quickly followed by a “but” or an “unfortunately”. It’s classic troll behaviour.

Thanks for your input Stevo.