Member Info for mrc_mrc_mrc_mrd

Imminent is often used in the wishful thinking sense.

I will stop posting here if this gets done by the new longs top date.

Lol looks like we have a parrot.

You have been confident about a few dates here in the past Perky!

Lol, of course, more either and delay from this incompetent BODs. In my opinion.

History would say it is likely to be extended. Maybe brown envelope required to get this final signature?

EPL made Rosebank more attractive. The positive as Romaron says is that the government is showing some support for the industry and no longer running scared of Labour on the issue.

Within the next year I expect some sort of coherent strategy for NS will be brought in that brings stability and makes it very difficult for Labour to trash things.

Could be a good fit?

Runner18 - I agree with that sentiment. I have not met the man but don’t recognise the picture painted by some about his competence. He has successfully navigated the company through some very rough external events.

Martinen - where is the money coming from for buy backs? My view is that starting buy backs now would be viewed negatively by the market. Next year looks better for offering long term sustainable returns to shareholders.

Martinen - so as an activist investor you would force the company to do what they have already said they are doing?

And you would pull money out of the company now even though that is likely to be viewed as irresponsible by the market given our liabilities?

Perhaps you made a badly timed purchase?

Well done, I enjoyed that

A special dividend for each milestone payment would return millions to shareholders. Meantime reduce costs to a bare minimum admin cost, get rid of expensive directors, and try to sell off the AD business before voluntary liquidation. Best chance for anyone to get some money back IMHO.

Well there is a large sum of money coming in. We know SCIR is very expensive to run. Why not distribute monies to shareholders? “Investments” to date seem to have been designed to maximise consultancy and directors fees?

Best chance for investors to receive any sort of return IMHO.

Whatever happened to BD and his investor action group?

These lot have utter contempt for PIs

They are laughing all the way to the bank with your hard earned in my opinion

Hi Steve,

Surely we will receive $3m minus $0.7m.

And also subtract another $0.7m for cash burn this year.

So maybe we receive zero on completion assuming that Gneiss fee will be at least 10%

SHS - SCIR have stated that they have drawn funds from the loan that ARA made available as part of the deal.

Monies used to meet Ruvuma cash calls should be offset, however SCIR have stated that some of this money has been drawn for general spending. This will need to be deducted from any monies due at completion. We have no idea how much this is, but could be substantial IMHO.

I expect Gneiss will get their fee upfront rather than as milestone payments. I’m expecting between $1.5m and $3m.

Taken together these could wipe out the completion payment.

Anyone know how much we will be paying Gneiss?

Anyone know how much we owe ARA?

AA - I believe the cost of living is hitting BT hard. He is now trading on the side to pay for children’s clothing. It’s the dirty Tories doing as I understand it.

Another P&D incoming?

GE drilling

https://www.energyvoice.com/oilandgas/north-sea/522634/shelf-bags-13m-north-sea-drilling-work-with-cnooc/

Https://www.nstauthority.co.uk/news-publications/news/2023/north-sea-gas-is-almost-four-times-cleaner-than-imports/#:~:text=North%20Sea%20gas%20is%20significantly,Sea%20Transition%20Authority%20(NSTA).