Member Info for mrc_mrc_mrc_mrd

He likes the smell of his own farts KO

https://youtu.be/7FAI_-woNh4

Around a third of my “wealth” is in what I class as “green”. Mostly recycling, reuse, substitution. All start ups. The rest is in ENQ.

The problem is that we are doing all this 30 years too late. Development of new technologies takes time and throwing money at it only goes so far.

If anything will save us it is technology development driven by greed.

Childling won’t like this because he is a masochist. Humans need to be punished for being such naughty boys and girls.

I hope you are leading the charge in reducing your fossil fuel usage?

Surely you could do a lot more? Lead by example and all that. Maybe you could get rid of all your electronic equipment? Use the library to post your urgent messages on this forum?

What are you on about Childling. It is not a case of “moving to renewables”. Certainly not at a pace that would need reduced production in the next 5 years. For many applications there are currently no alternatives to fossil fuels (E.g a lot of plastics and chemicals). Other applications are expensive to decarbonise and alternatives are not mature.

If all oil producers immediately stopped investing in oil and gas and run down reserves then we are looking at global war and societal collapse.

People like you just hate humanity I think Chilting (except you and yours of course).

Good things rarely come by forcing rapid change.

Tigar - 100%

Why on earth are we trying to punish producers when demand is predicted to grow for years to come. Renewables, electrification, waste reduction and efficiency improvements are the key to target demand over the next 30 years.

Just Stop Oil has got to be the most idiotic organisation out there.

Chilting m8 you are the worst

I would be wary of assuming the hedges are based on Brent. At least some of this years were on Kraken crude. So some premium already locked in.

Your “analysis” is very superficial Chilting. Typical of a day trader and ESG believer.

In time the real value here will be realised.

Ah the annual IC rise, that would explain it.

Strange how it never fails to produce a decent bump.

Yes I suspect the few who post regularly here are in the minority in terms of their holdings (the single share all in types - I count myself in this group).

Many people have mad ideas like a diversified portfolio, and don’t have the time to get to know an individual company.

Chilting - it’s all so simple in your world. I suspect you might be simple.

Steve - what makes you think there is any cash in the bAnk? Or that they still own He1 shares for that matter?

A good place to start is the 24th March results announcement - if you can make it to the 2nd paragraph you will read that..,

“We have also started 2022 well, with production to the end of February averaging 50,408 Boepd, towards the top end of our full year guidance range. We have also continued to reduce our net debt, down to $1,090.0 million at the end of February”

You are all over the place hxul

The U.K. gov WILL see tax revenue unless they change the EPL to allow historic losses.

Net debt figure is way off. Closer to $750m IMHO. Even if you assume no cash accumulated since the end of March when net debt was stated as 1.09bn. We know that debt was refinanced (no new net deb as 2023 notes cancelled, and proceeds of new notes added to cash).

Where is the extra debt coming from?

I think you should go away and do your sums again.

They did not add $133m in April as the majority of this was refinance of existing debt.

It’s actually worse than that - he stated £££ not dollars. So that would be about $2.36bn.

The last update RNS had us at $1.09bn net debt

Knock a few hundred million off that for the cash flow.

So actual net debt is around a third of what he claims.

We can certainly agree on all that Aimster

I will add that the BOD let the IPO happen at 3p!!!!

Another example where they sold assets on the cheap.

Imagine the IPO had been at market value (10p based on the fundraise a few months post IPO). SCIR would have had a sizeable percentage.

Aimster - my point about selling the He1 shares is that this is a publicly listed company that is highly speculative. The BOD gambled and happened to win. It wasn’t clever, it was luck. It hardly fits with this supposedly risk averse BOD strategy.

They were gambling with the funds needed to develop Ruvuma. If they had sold the whole lot at 20p then we might not be quite as desperate now. But no, they were greedy and held for the drill. He1 SP now down from its spike at 8p last I checked.

Holding He1 shares that shareholders could own directly is also rather pointless. Do they believe there is more value investing in HE1 than investing in their own company??

I think Tom liked the ride watching hundreds of thousands of pounds paper profit appearing then disappearing.

Where are you getting £2bn debt!!

Aimster - this is business…if I can spot these scenarios then so can the big players. They are not in business to be nice to SCIR shareholders.