Member Info for mrc_mrc_mrc_mrd

I hope so Frank, but expect that we will just get the usual waffle about everything being hunky dory.

I’m convinced that the funding “strategy” has been forced upon SCIR as it seems far from ideal from a shareholders point of view.

Are still owed $675 thousand worth of shares.

Looks like they might get them even cheaper than the last tranche that they picked up for 0.54p.

This is the problem with drip drip financing.

Is the outstanding amount preventing a larger refinancing to pay for the drill? The BOD need to come clean on the funding issue ASAP IMHO.

Magnus will come back IMHO. Just needs a bit of cash invested in her and a little bit of luck.

My feeling is that a lot of the issues have been around topsides uptime. I wouldn’t be surprised if there are a few long-standing issues built up which can be addressed in this years longer period of planned maintenance.

The extra wells will help as well. We were supposed to be drilling 2 a year if I remember right but have had 2 years break now.

Oil workers evacuated from vessel following fire https://www.bbc.co.uk/news/uk-scotland-north-east-orkney-shetland-60967977

Can the Bentley subsidiary (assuming that’s what we bought) buy a producing asset to use the tax losses?

Frank is a victim of the so called “knowledgeable posters” IMHO. They pray on the inexperienced and promise lashings of jam tomorrow.

From page 150 in the prospectus, “The Existing Notes include covenants designed to limit the extent to which certain types of payments may be made to shareholders and other payments.”

In comparison, the new notes…
“The Notes will not include any other covenants”

Ouch…monster discount.

Very sensible approach though. If this does in fact fund them to first gas then the rewards will be there for all.

SCIR should have at least raised the cash for this years work programme as soon as it was agreed. Then we wouldn’t be in this hole.

Ah so you discounted the geopolitical risks of the “cheap” supplies?

What about their environmental impact? Not much point in all this green power if we import fluids from criminal states with no regard for human beings or the environment.

Chilting - last year you were saying oil and gas had no future beyond the next 2 years? Now it’s part of the mix?

I see a future for hydrogen in heavy transport, but it will be of the blue or grey variety in our lifetimes.

Eventually we will build out capacity of our electrical system to make green hydrogen possible but that is decades away IMHO.

Oil protest: Arrests made as Exxon Mobil suspends operations https://www.bbc.co.uk/news/uk-england-60951403

Lol, how simple minded. Just stop it guys!

“Ordinary people can no longer afford oil and gas, it's time to just stop oil."

Chilting - seems unlikely to me. Bressay already has partners.

EnQuest has a 40.81% interest in Bressay and operatorship and Equinor has a 40.81% non-operated interest, with Chrysaor retaining an 18.38% interest.

If they picked up Scott and GE they might get a good deal.

TAQA are also selling their European oil and gas - I would imagine ENQ will be trying to pick up some of that. 33k barrrls a day from the U.K. along with some decomm.

https://www.bloomberg.com/news/articles/2021-09-02/abu-dhabi-s-taqa-looks-to-sell-u-k-dutch-oil-and-gas-assets

Now that would be something.

Right up EnQuest’s alley IMHO

I suspect price tag puts it out of reach but you never know.

Chilting - it is intriguing. We won’t know the bigger picture until it plays out in RNS releases I expect.

This certainly appears to be a free choice (unlike tullow where from memory it was refinance or bust). So ENQ must have a prize in mind that is worth the (small) increase of interest costs.

For a level 3 trader you are awfully petty and ignorant

This looks OK to me. It’s just the retail bond. AB did emphasise debt reduction, so maybe the plan is to repay the high yield bond by maturity? Or at least chip away at it for a little longer

Jesus Christ you are tedious BTFATH1

Yes if the wells are so fantastic and will pay back hundreds of millions within 12 months then why has this project not romped ahead????

Something don’t smell right hear Chris

Black gold - that is 6 years old.

Also they already have full control of the asset… some insiders have said that they are trying to spend SCIR into relinquishment.

If someone was really interested they could probably buy all of SCIRs outstanding shares for about 1p per share.