Member Info for mrc_mrc_mrc_mrd

Best idea is to keep the company ticking over and pay out special divis (or buy backs if preferred) when the Ruvuma milestones occur. Could also be a regular annual divi to distribute a percentage of the profits from EAG with the rest used to keep the AD asset going.

No reason this could not be an absolute cash cow with the right structure.

Costs associated with being a listed company are substantial. This really needs to delist if the hunker down and cut costs approach is to bear fruit.

Every buy is also a sell AA. I think the price action tells you who is more desperate.

Maybe Prolific selling down before they pick up their next allotment?

Looks like a big seller trying to offload in little chunks?

Volume was very high yesterday

The current BOD are wholly responsible for the state the company finds itself in.

The prolific deal was the death sentence for SCIR. Obviously death spiral financing. The BOD should have done a straightforward placing at 2p to fully fund Ruvuma and then cut back costs.

Instead they used borrowed money to pursue an awful foray into a trendy sector. End result is fire sale of the main asset and a complete money pit of an AD plant (it seems)

Hi Romaron

TLW has been a slow motion car crash. Overvalued for years but with a very loyal retail base. CNE would have been a gift to them.

I’m not sure it’s that easy to compare HBR and ENQ. ENQ still have the “risky heavily indebted” badge, HBR do not. They also have different gas/oil mix, hedging etc.

I don’t think it’s as simple as comparing SP of both over an arbitrary period and concluding that they will always move in step.

Barclays are concerned about near term debt maturity.

If we get a good refinance we will re-rate IMHO. The level of debt is not a problem anymore but the uncertainty on the 2023 bonds is.

To some extent this risk evaporates as cash comes in and bond buy backs happen, but there is a scenario where POO crashes, recession hits, ENQ are unhedged, and therefore need to refinance from a weak position.

Either substantial hedging and / or refinance would see us safe. ENQ playing a slightly risky strategy at the moment presumably because financing climate is difficult and hedging is expensive. More options also open up when the debt is lower such as using a renegotiated RBL to repay the bonds.

Rewards should be good if POO and production stay high.

Capex cut next year would also help clear the debt, but I doubt they will do that, and indeed hope they don’t.

It wasn’t so long ago you were on here boasting about your trading gains and the new set of golf clubs or designer gear you were going to treat yourself to.

BTFATH1 what utter rubbish you post.

I don’t know anyone with an engineering degree that works in Tesco.

This from engineering U.K. -

“Most engineering and technology graduates go on to careers in engineering: 62.0% of full-time UK domiciled engineering and technology leavers entered an engineering occupation.”

I agree on facing reality. Our GDP per capita is terrible. Time now for our politicians to make tough decisions to make us all richer in the medium term.

The guy is an idiot but he has called it right on this one IMHO.

“There is nothing again here that has not already been announced”

Even Malcy is struggling to pump this old shagger.

Wow so they are even going to start spending the sale proceeds before it has completed?!

This is outrageous.

I agree DPL - good luck proving it though. The system is setup to facilitate these money grubbing activities.

Related party deals are BAD news.

If the BOD are really interested in making this business a success they would immediately terminate this relationship

https://www.linkedin.com/posts/enquest_enquest-allseas-pioneeringspirit-activity-6981508895135399936-5LTW

Maybe if the BOD were a little more conscientious they wouldn’t have screwed up the AGM so badly.

The good news is that they have probably made other mistakes.

Indeed it would be good to see the black mark of liquidation against their names IMHO. They are on a different planet if they truly believe they are doing a good job.

You are right about AIM getting hammered first. It went below cash value in 2020.

Things may get a lot worse in global markets so expect huge volatility. No such thing as low risk in these times IMHO.