Member Info for mrc_mrc_mrc_mrd

All the best 44rj, I’ve enjoyed your input to the forum. It has certainly been interesting period.

Have you bought in anywhere else yet? Or taking some time to do some research?

I closed my spreadbet the day before results. Too risky to have it open on results day and in decent profit. I’ve been buying back this morning. My view is that results were neutral.

I still think the driver is refinance. Nice to see some more debt repaid (interest payments reduced). CCS / electrification etc is years away so can’t get too excited about that, but I suppose nice that a longer term vision is emerging. Would be good to get EP back to work.

Herby - I think the end is probably nigh. The shareholder revolt could finally put this out of its misery.

We have still to see the consequences of the recent default.

Sells going through at full bid, could signal another tick down tomorrow.

There should really be a gas / oil distinction

Gas prices are more than 10x normal.

Oil maybe 50% higher and not really causing problems.

The soon to be chancellor Kwasi Kwarteng was against WFT. Truss is also low tax and coming out strongly against populist redistributions.

If Rishi had got in it would have been bad.

AGE - the BOD have a majority. The only reason the resolutions failed last time was because they needed 75%.

I doubt big doubles resolutions will pass unless the BOD and their backers want to offer a bit of an olive branch.

A few articles here

https://www.lowcarboncontracts.uk/blogs-insights

Romaron - The subsidies work both ways - the CFD price is fixed so at the moment a lot of excess cash is going straight to the government. I would guess that most renewables are effectively getting this fixed price but I have not looked into it.

I expect a lot of data in these dashboards if anyone is interested

https://www.lowcarboncontracts.uk/contracts-for-difference

Surely they are all important Perkins?

Perhaps leave this to those who still own shares?

You seem to be adding little value?

Board members with a shred of honour would have resigned by now.

They have lost the trust of a large minority of shareholders.

This minority have the best interests of the company at heart, whereas the BOD and their cronies are interested in what they can extract from the company in my opinion. AIM rules are so pathetic that this sort of thing is all above board (or at least very difficult to prove wrongdoing).

What a sad state of affairs.

BOD have to go.

We may not need it but a new smaller bond with longer maturity would do wonders for the SP in the short term and support a bigger capital programme next year.

It will be tight to pay back the bond and RCF in full in the next year. It wouldn’t take much to put this in jeopardy -E.g. a prolonged outage at kraken, or an oil price crash.

Refinance also opens up dividends, so in one stroke of refinance we de-risk and dangle distributions. It would strap a rocket under us IMHO.

Highland - we don’t know if the strategy is good or bad. A review is needed in case the whole thing has been setup as a vehicle to transfer cash to other parties. Recall that the consultancy fees were huge on the 1st AD deal. Likely take a year or 2 just to pay for that.

There is also a question about investor risk and reward appetite.

Will anyone ever get their money back from AD plants? Is it better to get back into oil and gas? The one dyas deal would have made shareholders here exceedingly wealthy for minimum risk.

No dividend policy until refinance is sorted to remove restrictions.

I would like to see a refinance but think it is unlikely in current climate.

Takeover very unlikely IMHO. AB wants to see the job through to the end. Possible merger with AB staying on as CEO. I still like Capricorn if the deal with TLW falls through. Would wipe out debt and diversify geography.

Steve - 10% of purchase price = $1.6m

Sounds like a foolish move if you have actually done that haggis?

Who is going to provide the funds for these renewables deals?

I’m not sure if you are aware but SCIR have defaulted on their current finance arrangement. Can’t imagine anyone will be queuing up to provide funds???

Chilting - daily movements are meaningless.

We are back at an oil price we saw a few weeks ago. Terrifying. Next week we could see a 10% upswing in POO. It really doesn’t matter. Enquest are making excellent money.

We don’t need much longer at these prices to put the company on a solid financial footing. Why don’t you go and Troll Tullow? They are a much riskier bet if POO tanks and the CNE deal falls through.

Chilting - you do realise this is the Enquest BB - if you don’t have any interest in Enquest then why are you here spouting this masturbatory nonsense?

Have the blokes down the pub started ignoring you or something?

As KO says…record change would be nice. This board is generally quite pleasant these days. We managed to get rid of Ammu but you seem to be hanging around like a bad smell!!

Dumbly - the government get tax revenue from oil producers. The more they produce and the higher the realised price the more tax revenue. This can be used to support British consumers if the government wish.

Things like export controls will never happen (if they do then we will have more to worry about than how much money ENQ are getting).

Chilting - I am investing in Enquest. This is an Enquest discussion board.

Good luck, you clearly have some mental deficit or health issues.