Member Info for mrc_mrc_mrc_mrd

Using loans to generate cash?

How does that work then SotB?

I have no issue with placing to fund development, but would much prefer a farm out to share the risk.

I’m suggesting a placing to strengthen his hand in the development of the main assets. He needs to get something big moving. At the moment a drill at skerryvore could wipe out the cash pile.

If he truly has a master plan then I suspect cash will be needed.

I don’t care that you trade BTFATH1

It’s your personality that I find tedious

See page 8 of this ridiculous presentation.

https://d1ssu070pg2v9i.cloudfront.net/pex/scirocco/2021/06/13223309/Scirocco-Energy-Deal-Presentation-June-2021.pdf

Chilting - I disagree. The Tories are fed up of populist policies. They know they will get crucified by traditional tories if they can’t be taken seriously on economic policy. You see in the resignation letters how these guys will position themselves for leadership contest.

Boris is weak now so we may see policy decisions to keep the low tax wing of the party happy. I see Zahwi having some room to make his on way. Mitigations at the very least IMHO.

Todays RNS is more or less irrelevant. We know they are making a killing on the small Dutch assets.

They need to make a big investment to use the cash.

A cynical person might think that todays announcement is a precursor to getting the SP higher for a placing.

Best to look at Rotterdam as that is where we are actually selling it. Not quite as good but a premium is a premium!

Unfortunately it all probably means a little more uncertainty.

SP here is crazy. Good long term bet for anyone with dry powder (I never was very good at keeping any). I see crypto is doing alright today. What a mad world!

It may be too late for the WF tax to disappear unless Johnson is toppled in the next week or 2, or calls an election. It’s popular, and the new guy is clearly a save big dog sort of guy. Can’t see him rocking the boat.

If there is a leadership change and new Tory government then I think there would be appetite to change it and go back to more traditional conservatism.

Well Said Kej

Usual suspects nowhere to be seen now and leaving all their victims carrying the can!!

Looks like another red flag to me? I thought they bought the stake in EAG? That’s what they told investors.

The BOD need to start explaining themselves IMHO. We should not need to be trawling through accounts for information.

EP west of Shetland is a non starter I think.

Chilting - topsides modules only. Lift off what we don’t need and lift on new kit. Weight and footprint.

The major issues you mention with AK are just standard commissioning and start up.

I’m not saying any of this is cheap or easy but it’s just normal engineering. The bigger factor will be the economic modelling…spend more up front on a bespoke modern efficient FPSO designed for harsh environment, or cheap and cheerful non-optimised, lower uptime, lower throughput, higher opex option of using EP. I expect in current climate the EP option would present a lower risk

They have a warped view of their own worth IMHO.

Completely useless shiftless A-holes IMHO.

BOD gotta go IMHO.

I don’t think they would be wasting their time warm stacking it if there were any structural concerns.

My feeling is it will be used for Bressay.

Design life for EP was 10 years but that was just the expected life of field. There might have been some cost decisions taken around that (materials, coatings) but most standard packages and equipment will be 25 years.

The hull was well patched up in 2013 and I doubt has had a very hard life after that in central North Sea. May be a little rougher up north so not sure if it would last long on Bressay. Not really my area of expertise though.

Banana - if you don’t like the way the company do things then either sell up of lump it IMHO.

You’ve said your piece and now just being rather unpleasant about people who are just doing their job..

Get a grip banana and get in contact with IR who are most helpful where they can be. I believe some of these questions have already been asked and answered.

In my view you are looking for a cuddle from the company. More frequent reporting is not going to change the SP. It adds an extra burden and my view is that it would encourage even more volatility and speculation.

Banana - why not address your questions directly to IR instead of moaning on here?

So looks like all drilling would be classed as investment expenditure.

Potentially Armada Kraken lease costs?