Member Info for mrc_mrc_mrc_mrd

Thanks Stevo

So to “book” the losses do you just need to have a credible plan to make a profit (I.E FID taken)?

I don’t think that is so bold.

Stevo - is that your take then? Bentley losses can only be offset against Bentley profits?

Was Bentley eligible for the heavy oil field allowances and would that have any relevance in relation to use of tax losses?

Do we know what brings the Bentley losses into play?

Fitzpatrick installed the current BOD and has had massive benefit from them over the last 5 years through the Gneiss arrangement.

I suspect he has influence over a lot more than 2.9%.

Stevo - how could they push diesel and chemical costs into 2024. Use your noggin lad.

He took control in 2018. Funny how well Gneiss have done since then isn’t it?

Hmm so Fitzy isn’t a major shareholder then?

Fitzpatrick seems to be in the driving seat AA. TR and AR are his men.

Ariel we are in agreement for once. Doug was another snout in the trough. He could have gone a long time ago IMHO. The BOD have waited until they had no option but to get rid.

Gneiss very much still pulling the strings here IMHO

We have the term loan facility now -£150m drawn?

$88 locked in for 0.8mmbbls

Solid update.

Looks like Tom or his retained counsel are busy today

Enquest shares should provide a better return than 13% IMHO.

When a company announces that “all is well” “nothing to worry about” I will be hitting the sell button.

Let these guys get on with their jobs.

Stevo - why don’t you believe what the company is saying about shareholder returns?

What makes you think this won’t be possible until 2026?

Papegoja - what we don’t know is who has been hoovering up those shares sold by panicking small investors?

Is the group really in profit? Doesn’t sound like it to me…

Picked up some more this morning as well…we haven’t seen these prices since the dark days of covid winter 1. Back then oil was in the low 60s and debt was around $600m higher.

Obviously we are paying some tax now and our production is a little lower, but still seems crazy to me that we are back at 14p

Perhaps some swedes have been holding out in hope of a rise to offload into and are finally capitulating?

Steve-o

Enquest have stated quite clearly that their strategy is downside protection. That may change but until I see otherwise my assumption is that Enquest will retain upside exposure.

If that doesn’t fit with your risk appetite then you shouldn’t be invested in my opinion.

Investing on hope that the company have happened to change their hedging strategy and timed it perfectly seems a little foolish!

Insurance always has a cost.

I doubt they would want to be associated with dirty fossil fuels. Far easier to take the tax on one hand and beat the private companies up for easy votes with the other