Member Info for mrc_mrc_mrc_mrd

Chilting has obviously out smarted the market

Lol Chris you keep banging on about moby dick. Have you not got anything new to say?

How about something relevant to SCIR?

Even with a big drilling pump and dump I can’t see existing holders getting ahead with all the dilution needed to fund it.

Lol are you a qualified psychologist AA?

How would you describe people like yourself and Chris, who only like to hear what they already believe? Who invest poorly then hold it in the bottom drawer, or worse, talk up the dead duck online to suck in other mug punters??

Delusional? Compulsive gamblers?

There are lots of trendy terms like echo chamber as well of course.

Is moving in to couple with the Armada

Looks like we will be around 28k bbls per day since last offload.

All looking like we will be on the high end of guidance when they report on the 24th

Sorry lads but I discuss the company. There is nothing personal. If you can’t handle other peoples opinions then just log off or filter.

I doubt you would talk to someone every day in real life who you vehemently disagree with, to the point where it really upsets you!! Why do you do it online???

Chris and AA (BOD lovers and Gneiss fan boys),

It’s hard to look away from a car crash.

It is quite masterful what Gneiss and the BOD are doing with SCIR.

Even with a big drilling pump and dump I can’t see existing holders getting ahead with all the dilution needed to fund it.

Hi Vike - no money to be made in this…following prolific could work but they have an advantage.

If the spread was a bit smaller and IG and the others offered leverage then a straight bet against SCIR would have done alright. But as it is you are tieing up a lot of cash for a long time. SCIR specialise in slow death…good for the BOD and their cronies but not for anyone else IMHO.

KO - it left on the evening of the 1st of March?

Hi Frank - very risky trading this share. Far too illiquid. Ridiculous spread. And no leverage.

My view is no sale and no drill this year.

Purpose of SCIR seems to be to transfer wealth from retail investors to wealthy elites?

Rinse and repeat

Great post Frank.

I agree that the BOD and their useful idiots on this BB are running out of road.

Either way we know that more funding is needed just to complete the seismic. We can expect more dilution or selling off of the only liquid asset sometime soon.

No AA - just continuing a discussion from some months ago.

I will dig them out and people can judge for themselves.

I do get the feeling that things are turning out exactly as I expected.

I will need to dig out some of Chris’ old posts about how prolific are investors and it was a vote of confidence that they wanted more shares when the SP was 1.15p. He also boasted about how they weren’t even getting a discount.

Well they have actually had a very substantial discount!!!

Yeah and they now have another chunk of shares to keep the price down.

It’s why it is called death spiral finance

We should remember that all this cash has only bought half of an AD plant.

The other half of this asset has been given as a finders fee. No doubt the EAG guys will also be pocketing a handsome salary.

For any nerds / retired people out there who might be interested:

https://oeuk.org.uk/event/electrifying-north-sea-oil-gas-production-the-devil-is-in-the-detail/

44 - do you think the AD plant is covering EAGs costs? I doubt it somehow. And certainly it is not covering the additional topco costs associated with it.

Shall I even mention the hundreds of Thiusands in acquisition costs???

1 AD plant is not a viable business for a listed company IMHO.

I have been saying for a year that scale is needed.

It is very telling that bank or equity funding has not been secured for the oven ready deals.

AA - it is an opinion based on the facts we have available.

The BOD claimed that there were a number of oven ready deals totalling 10s of millions. Clearly something is not going according to plan as these have not been delivered. The expensive management structure is in place and consuming cash, but where are the assets for them to manage?

It should be of great concern to shareholders.

Hi Frank - I guess you got out if you find it funny?

Well I suspect the BOD will keep this rolling on for as long as they can. Prolific loan would probably give them another 12 months if I am correct about the drill moving to the middle of next year.

What seems clear is that there is no buyer, and there is no alternative funding. There also seems to be no funding available for the failed EAG venture. It seems to have been a flawed business plan.

I wonder when they will take up their extra $800,000 worth of shares?

That will be a shock to The system when those drop at this price. Maybe they will wait for the desperate BOD to come out with the begging bowl for another $3 million, then use their $800k to really drive the price down and convert for the big pay day.

A few ways this one could play out, but none look very good to me?

Looks like they have the BODs backed into a corner