Member Info for mrc_mrc_mrc_mrd

Gosh what drama!

I wonder what it was they didn’t like?

We need these monies if we are to keep hold of Ruvuma.

Now that the fate of the loan is in TPDCs hands I can see a delay and forced relinquishment.

Will the BOD gamble and keep paying the bills for a time? When will they say enough is enough and just relinquish.

SHS my fear is that it is not reflected in the SP.

There are still a number of investors who believe that Ruvuma is still SCIRs. This is inflating the SP. Once these guys capitulate (E.g. Aimster, AA) we could see much lower SP.

There also seems to be a lack of understanding about the seriousness of this DEFAULT.

BD - can’t bring myself to buy even a token number of shares. I’ll just have to wait until it all comes out publicly I suppose.

I think even leaving Gneiss aside the business is not exactly lucrative.

It’s basically impossible to value the business without knowing what the margins are.

This is before we consider the double management (+ consultancy) cost structure. Completely ludicrous for a company this size. What is the great Muir Miller actually doing? Not heard much from him.

If it was as easy as buying up assets then everyone would be doing it. Clearly the Greenans didn’t see much value in the business.

We are paying market prices for assets with borrowed money.

None of this makes financial sense to me, but my guess is that as long as money is moving around the BOD can claim to be doing something.

There is no business here IMVHO

I would say it would be a great investment, but I’m sure Gneiss would advise our BOD of a suitable valuation to get maximum cash into the company for very low equity in return.

Lol very good SHS

Things seem to have gone awful quiet on the BD disgruntled shareholders group? Any moves being made behind the scenes?

Wow I had missed that post Robs - thanks for putting it up.

For me it confirms that fair value here is closer to 40p if you risk the prospects and account for all the hidden costs coming down the line.

It’s a gamble that TC still has something, and odds don’t look great at his time of life.

Suncor are supposedly selling their U.K. assets - 30% interest in Buzzard and 40% in Rosebank.

I doubt ENQ can afford them, but we can dream!

SoTB shown his true colours now IMHO.

This will be a buy again if it drops back nearer 40p.

Looks like Tom is hoping he can sell off some more of the family silver.

Oh right, what exactly were you acknowledging in Robs post?

And why the gloating tone?

SoTB - you did say you “know” in this cheeky little comment to Robs.

“ Sonofthebull
Posts: 3,023
Price: 74.20
No Opinion
RE: IntriguingFri 18:50
Bobert
I know but since you have blocked me you and your pal MRC will have to keep guessing.......Now that's funny !
DYOR”

I will say it again SoTB. That is not how it works. The operator charters boats.

I don’t know if it is for skerryvore. Perhaps it’s a typo on that website.

Anyway, seems like your claim to “know” is yet more rubbish.

SoTB - that’s not how it works.

PMG will get a bill for their share of Athena costs, but the operator is responsible for the nuts and bolts of the operation. Ithaca will charter their own boats.

As far as I know Ithaca are operator and decomm work is due to start next year.

If I have an ulterior motive why would I speculate about skerryvore? Surely that would be a good development?

Oh how clever of you SoTB

I guess it’s not very interesting news then if you feel the need to constantly pump this. If it was something good you would be happy to sit back and wait for the big rise?

Skerryvore I guess, but seems strange…

PMG are not operator at Athena? So unlikely they would be chartering boats for that.

Yes and the SP at that time was about half of what it is now!!

Gas price doubling does not add £40m to the market cap.