Member Info for mrc_mrc_mrc_mrd

You really are on another planet Chilts.

Lol I think that dream is for the next FPSO at the end of Krakens 25 year design life.

From results

“Near-field drilling and subsea tie-back opportunities are being assessed. Following completion of a 3D seismic campaign in 2021, work is ongoing to interpret the seismic data in order to evaluate fully the development potential of the western area of the field, in addition to supporting ongoing optimisation of the main Kraken field, including potential infill opportunities. The current expectation is the execution of an initial side-track opportunity in 2024, before future drilling of wells in the western area. Equipment orders are likely to be placed during 2022 in order to accommodate significant supply chain lead times.“

Interesting Himmat

It depends how much pressure there is (E.g. carbon cost, regulatory).

I agree it is very difficult to electrify, but this is true for all U.K. CS assets. Even fixed platforms we are looking at 2025 and beyond to do this (not necessarily technologically challenging but a complex project).

I think kraken lease will be extended beyond 2025. As they say maybe some amended terms to account for the carbon costs. Electrification will be prt of the consideration when looking at the development options for BBK (use of Kraken FPSO is by no means decided).

On Kraken drilling western flank I believe this is due in 2023 or 2024. It was mentioned in the last results call.

The farm acquisition has been very disappointing. zero happening on that it seems. Money just sitting there tied up losing value every day.

Even better would be policies to encourage financing of oil and gas project. Some of the risk needs to be transferred to the state for new fields IMHO.

Oil and gas is an essential export for the U.K. economy. I think Truss and Kwarteng realise that. I wonder if we will see the WFT repealed. That would certainly be a statement of intent. They have shown they are willing to be unpopular.

Maybe you should work out what the tea leaves tell you then do the opposite!!

If you were comfortable with your investment you wouldn’t be spouting “word on the street” rumours and telling people on the internet that they are turncoats.

Your investment seems to have made you a rather unpleasant character.

It’s baffling - supposedly negative posters on the internet are to blame. If we all just pump the share then the SP will go up!! Obviously nothing to do with fundamentals of the business!!!

Sorry Scott240 but we have seen a lot of your supposedly insider info posts over the last few years. All proved to be complete rubbish.

PYUECK - I think we are transformed now. Debt of $2b was way too much for the lower for longer price environment we have had for the last 6 / 7 years. Enquest have done a really good job of navigating this. We have had a few false dawns where we thought prices were stabilising higher only to have the rug pulled before we really got started.

This year has been a game changer IMHO.

You are right about the fund raises etc. my view from the last update is that ENQ will be looking to avoid any shareholder contribution to a refinance (something they can do with supportive oil prices). The risk of another open offer or rights issue is reducing every day. That said it is relatively risky leaving refinance to next year. A bit of a bet on high POO or favourable bond / debt market.

We will see what KK a says. For me 2 years is realistic, even optimistic.

There need to be renegotiations with infrastructure owners and engagement with supply chain. The issues with supply chain are still out there. I would imagine quite a few microchips required.

It will be great if the regulatory environment improves and if PMG win the licence back. The licensing round itself will take time.

SoTB. I have worked on projects for majors. If anything it will take longer to jump through all their bureaucratic hoops.

2 years minimum.

Lead time for equipment will be longer than 6 months.

6 months….no danger. At least 2 years if they get the licence back.

And what, sold today to the mug punters?

Lol well every buy is also a sell!

Pitiful trading volume as usual. This share is highly illiquid.

Good to see AB supported the new bond issue by exchanging his existing 2023 bonds and also dropping a cool £1m on newly issued bonds!

For me this shows his intent to stick around here and grow the company.

Lol, it’s all rather amusing. Demand expected to grow by another 2m barrels per day next year. OPEC like $90 +, and Biden will be refilling the SPR at WTI $80. I don’t see any risk of prices going to $50 for any length of time.

Nathan - the dilution from there share based payments is material. Overall remuneration is not sustainable whether it is shares or cash.