Member Info for mrc_mrc_mrc_mrd

Bad management, high cost structure.

It’s depressing that these vampires can legally do what they do.

Laziness? Part time working? Lack of respect for shareholders?

All more likely than some grand plan.

This has been building for a while now, even before Russia.

I think there will still be room for dividends. Just no **** taking and distasteful boasting like we had from the looney.

I’m fine with growing production rather than maintaining. Though easier said than done due to supply chain and labour constraints.

L3 is a balloon

Magnus will be fixed with drilling and this years planned shutdown.

Little point in picking over monthly data until after these events. We have no idea whether Magnus is performing as expected, under performing or over performing.

Enquest know the status and plans. They have guided production accordingly. We will get an update in a few weeks time

Chilting.

Let’s say EnQuest’s break even is somewhere around $50 per barrel.

Russia need $70 and Saudis need $80. Enquest out compete these guys and they set the price.

The majors can’t get the most out of an ageing north sea, but ENQ have proved that they can make good profits in a declining basin, and survive in very low price environments. Their ability compete gets even better with lower debt.

https://youtu.be/47CWxFXuAxk

This sums up the dynamic of this forum nicely!

https://youtu.be/lGeC8gBhcww

Chilting getting desperate now I think. Must have a short on?

Take care Chilts - usually best to get rid of a losing bet if you’ve called it wrong.

Ok big man

Big Halfer is looking for a 10 to 15 bagger on an unfounded drill

Thanks Chris and AA - Have a good weekend lads. I’m logging off now too.

I hope you didn’t go all in at 1.17p big double.

No wonder you are a little agitated.

Always consider management quality when investing in this type of company IMHO

Hmmmmm

bigdouble Premium Member
Posted in: SCIR
Posts: 7,827
Price: 1.175
No Opinion
What the next 12 months may bring24 Apr 2021 09:35
In my opinion very soon a new deal will be announced. This deal will be relatively small compared to the Dutch deal, but this will be the start of building a income generating portfolio. Our share in Helium One will be offloaded between 15p and 20p which will generate a large proportion of funds required for Ruvuma. I cannot see us finding a buyer at present that would satisfy shareholders as well as the Board, therefore at some point in the near future they will have to commit to 3D as well as the CH1 drill.

The build up to the drill will drum up a tremendous amount of interest in the stock and I can see no reason why an SP of between 5p - 7p could not be seen. If the drill is a success hopefully the 25 year licence will be fast tracked and then I would like to see us sell 12.5% of the asset and retain 12.5% longer term.

It may well be that we see some equity raised at some point, let’s hope this is done at 5p plus as then dilution will be short term pain for existing holders.

The SP appears to have found its low point, therefore I will be looking to add stock in the near future.

All IMO.

I wouldn’t want to get too close to Chilting and his crusty stick. These guys usually don’t wash very often!

I think it was around 1 year ago that many on here were discussing a SHAG.

Looks like nobody is interested enough to take up the responsibility. Maybe all just written this one off?

One thing is for sure, the performance of this BOD and their chums at Gneiss has been third rate.

Are you talking about the oiler that you were bashing at 17p that is now 32p??

Lol, egg on your face!!

Lol Chris you are a bit green aren’t you.

You might profit by doing a little more research.

One thing is for sure in my opinion. It would be a disgrace to place at 0.5p or below. Simply not in shareholders best interests as far as I can see.

My thoughts are sale or relinquishment Frank.

As I’ve said I don’t think they can raise funds…in any case we need prolific debt to be converted before that can take place.

Chilting - the average price that the vast majority of producers need is well above North Sea Break evens.

Nothing is really changing…EnQuest’s business model is end of life and there will be more opportunities as the North Sea winds down.

You seem to get excited about some sort of paradigm shift, but in reality this will likely be very gradual transition. Carbon capture and storage should be the priority, but as usual the green movement are against this!! Same mistake they made with nuclear.

Chilting you are tiresome. Coal power stations now being asked to stay open. Europe wanting as much North Sea gas and oil as possible.

Renewables are no use for heavy industry.

Perhaps the end is in sight one way or the other?

More likely TR has just been too busy moping around waiting for Gneiss to call.

These guys really don’t help themselves.