Member Info for mrc_mrc_mrc_mrd

Sadly that probably means a discount to any valuation.

$20 million minus fees, let’s call it $18 million or £13 million.

That would give a share price of around 1.2p after prolific shares issued. And that assumes no discount on cash in the valuation.

The downward spiral would continue it seems?

That’s what I’m saying Chris - if they announce that any proceeds will be returned to shareholders then the SP here will rise.

I doubt I am alone in thinking the BOD can’t be trusted with $20 million!!!!

If I were a shareholder I would be making it very clear to the BOD that a public statement of intent regarding any proceeds is required.

Seems like a good sign to me. Squif and company like to think they have some influence on the SP.

It’s understandable that they get angry when it stops moving the way they think it should.

Fact is that above $80 Brent it really doesn’t matter whether Enquest is well run. Very cheap at 20p.

If this BOD can pull off a $20 million sale I would be very impressed.

I would want to see a special divi though. Can’t trust these guys with that kind of money IMHO.

KO - not sure why you are suddenly getting angry at me??

Yes we had a period a year or 2 ago where they were crossing the 3% threshold in one direction or the other almost every day for a while.

KO knows exactly what it is yet chooses to try and make out there is a someone dumping stock. He is obviously out at the moment looking for a lower entry.

Mansardman

Lol I suppose it is jam tomorrow…that’s why we are not priced like BP. But the company is very close to being able to sustainably pay a dividend. One year of high Brent sorts out the debt. From there this becomes a boring old dividend payer.

Bond refinance is a de risking event and I expect to see a SP rise on the back of that.

I wonder if any of Tom or Fitzpatricks city pals invested in the HE1 IPO?

Chris - he may as well have put the cash on red or black.

He was happy to value HE1 at 3p in Jan 2021 when there was an appetite there at a higher price (fundraise at 11p a couple of months later.

Someone’s nest got feathered rather nicely there IMHO. SCIR went from 15% down to 4%. Ouch hardly a winner.

Tom asleep at the wheel?

Chris

Plenty cash has come into the business under this BOD

My question to you - where has it all gone?

Only the stupid ones KO.

Ultimately the value is in the future stream of dividends.

The way I see it, there is little point in a listed company holding shares in another listed company. Get them sold and let individual investors decide if they want direct exposure.

I get the feeling that Tom has played with this like it is his own personal shares to trade. His comments in the YouTube presentation from last year are worrying.

Highland - could also end up with with a substantially lower sale price if the drill fails. 11p is a fair price just now IMHO. Tom was lucky to get out on a spike last time. My feeling is that their will be a little less exuberance this time? Do they still need funding?

Now you are misrepresenting my views AA. Trying to distract from the current sheet show?

Why don’t you just engage in the discussion rather than personal attacks?

Chris has started an interesting discussion. Show him some respect at least.

I think they should sell HE1 - should have been disposed of immediately really as a liquid non core asset. It feels like Tom gambled on the drill and it didn’t pay off. I’m not impressed with him behaving like a PI. His comments in last years presentation were a disgrace IMHO.

It doesn’t solve the prolific problem. I believe only prolific can control when the shares are issued. I don’t think there is any repayment option ( it was a pre-investment rather than a convertible loan)

Doubt they will RNS commencement of seismic?

Chris - you keep banging on about how good Gneiss are.

They have been a complete disaster for shareholders here!!

You can hardly blame the recently renewed Gneiss deal on the BOD that left the business 4 years ago????

You can repeat that little mantra as much as you like. It seems this BOD can neither fund the drill nor sell the asset. Saying they must do that does not mean they can or will.

Thank you for the correction - it is of course in dollars.

The BOD have stated they are funded for phase 1 of seismic. As far as we are aware phase 2 begins anytime in the next 2-3 months. Funding is needed imminently if this is the case.

As to Gneiss… they have ripped the soul out of SCIR and decimated the share price. Your constant apologetics is embarrassing. Just take a look at the drip drip strategy at CEG (when they were called BPC). There was no SP rise during the drill because Every time a rise came the BOD and Gneiss dumped new shares on the market. History is repeating itself here I fear.

Chris - what I am saying is that this £1 million worth needs to be allocated prior to new funding. Nobody is going to put up £5 million (more or less the MC at 0.5p) when there is £1 million exercisable at an unknown price (Prolific decide the price).

Surely you can agree with that? Essentially the terms of any funding would be unknown!!

PYUECk

Debt has been the focus since 2016. AB has hardly been on a spending spree. The Company is doing exactly what you suggest it should be. They just haven’t had the POO on their side.