Member Info for mrc_mrc_mrc_mrd

What about the pipeline? Who are we selling this gas to?

Early production system is a dream IMHO.

Chris - the BOD need to act in shareholders interests. They should be looking at all options. I hope they don’t have the same emotional attachment and gambling mentality that you and AA seem to have to the drill.

I can’t see how funding the drill is in shareholders interests at a placing price below 0.5p.

An increased market cap is good, but shareholders need an increase in share price if they want to make money anytime soon. Dilution at this price is more or less giving the company away. Better to get rid of Ruvuma then at least you have the U.K. asset to build from. If they can get $5 million for it that would give them a bit of cash to grow the AD business.

AA - sorry that you are offended.

What I was trying to hammer home is that support for ploughing on with Ruvuma is not necessarily in. Shareholders interests.

The BOD and Gneiss are not aligned with shareholders in my opinion. They benefit from protracted sale and further fundraising through fees and salaries. If the asset is sold there is no further need for Gneiss, and the BOD become a big pointless given they are oil men.

Shareholders on the other hand will benefit from a well funded sustainable business with cash flow.

My view is that disposal (even relinquishment) is in shareholders best interests. Raising £5 million (for starters) at (let’s say 0.25p) will kill all shareholder value from Ruvuma.

Hitman1a turned rather negative in the last few months and sold out

itman1a
Posted in: ENQ
Posts: 1,874
Price: 29.20
No Opinion
RE: Jonathan Swinney24 Mar 2022 07:41
I started selling at 27p , but most in 26p range , then went long on Aviva , and am looking forward to my dividend and share consolidation , JS leaving is a big loss , even if things will be quiet for a couple of years , If you ever attended an AGM and met him , you’d be disappointed to hear this news .

I didn’t call anyone an idiot. I used a common phrase…this description is from Wikipedia and I think it works well in this case:

“ a person perceived as propagandizing for a cause without fully comprehending the cause's goals, and who is cynically used by the cause's leaders.”

You on the other hand spat back with your usual nastiness.

Guess Romaron is out of luck for the AGM meet up!

Hope you can relax a bit now KO. No point holding too much of something that stresses you out. Good luck!

They are fast running out of time.

Let’s see what the update says - I think we are due it in the next week or 2

Yes certain LTH here are useful idiots for the BOD and Gneiss.

In the real world this company is in a very weak position IMHO. The “Fund” option will likely come at significant dilution if it is even possible.

I think I mentioned the CEG discount arranged by our Gneiss friends? 80% if I remember correctly.

Yes it sounds like it’s quid pro quo for letting them shoot SCIRs patch.

Zubairs have no reason to pick up SCIRs 25% unless they get it for cheap. Maybe they would offer $5 million for SCIR to walk away?

Gneiss would probably advise the BOD against accepting that offer. Their interests are in keeping this mess going for as long as possible.

I think you’ve hit the nail on the head there Martinen. Debt was coming down but it was slow going and we really needed this period of high prices to get back to a sensible level.

We are transitioning to the next psychological phase now where people get FOMO and bid the price up. I like this part as an existing holder :)

Highland - I doubt existing shareholders have the firepower and will to raise the full amount alone. Perhaps a placing and open offer. There does seem to be very little retail interest here though going by daily volume…

Looks like our resident super trader missed the boat on this again.

BTFATH1
Posted in: ENQ
Posts: 15,287
Price: 30.00
No Opinion
Brent looking edgy01 Apr 2022 08:14
We could see a dip back to 26-27p quite quickly.
I exited at 30.6 yesterday as it looks a tad toppy at present

Fund or relinquish.

Those are the only options left now IMHO.

A sale can’t happen in time.

Will anyone support a £5 million placing? Not with the current BOD presumably. Prolific basins complicated matters - placing unlikely unless they agree to convert their “investment” as part of it. I’m looking for at least a 50% discount.

I guess all these holdings RNS are purely a result of the shifting percentages post TO.

So some (who did not tender) now hold a larger percentage due to reduced denominator and have gone above the notification threshold.

Others who did tender have a reduced percentage

Technology and efficiency is and always has been the answer. The mistake has been striving for zero carbon when less carbon is achievable. We have gone from wood to coal to oil to gas. The next step is carbon capture and storage for generation and heavy industry. Gas to x with CCUS for heavy transport.

I blame the schools. Seems to be idealistic rubbish taught…only looking at the “crisis” and not about practicalities of solving problems. We need young people to be working on this, not sticking themselves to things.

I think renewables makes a difference, but perhaps not accessible yet for poorer countries.

Off topic, but this stuff is really cool. They are raising on crowdcube and wefunder -

https://youtu.be/R5sbBKdftNQ

https://youtu.be/7lL9F7KjHZg

Chris - I happily admit that a sale could happen…but history puts the probability very low IMHO.

It’s interesting that you think a relinquishment would be a bad thing. IMHO it is preferable to your “fund” option.

Let’s stop this gravy train.

Hmm, always sensible to think about downside risks Chris.

I recall some on here thought 1.8p was cheap when this spiked out there last year.

Are you lumping relinquishment in under “sell”?

I suspect there are no buyers and no funding available. Could get rather sticky here IMHO.

Baton down the hatches as they say

Anyway…maybe a screw up on Schroeders part (though if the ENQ figure is right we have a seller instead of a buyer).

I won’t lose sleep over whether they are buying or selling.

As of November last year they had around 22 million shares in this fund https://www.schroders.com/getfunddocument/?oid=1.9.811

And I’m sure they used to have another fund with ENQ

Yes there should be Dumbly.

Here is what the Company still show on our website!! (As of December 2020)

https://www.enquest.com/investors/shareholder-information/shareholder-meetings/major-shareholders