Member Info for Slift

The AGM is in 2 weeks.

Current backlog estimated at less than $4.3b.
Interesting to see how busy they have been with bids and the work in pipeline.

Further cost cutting (and downsizing) to be implemented here if still no order coverage.
Any asset sales in the pipeline?

THERE'S BEEN A LEAK!!

Leak of water into well P6 that is.

"Be greedy when others are fearful.

The reason this is valued so low is due to pessimists like Slift."

I think you mean be fearful when others are greedy.
I'm here to make a profit, not to have a tea party with cups and saucers.

I have taken my profit today, and will continue to follow here closely as I do with most other oil companies.

Good luck if you're still in and hope this works for you.

*don't fill =)

"We could be debt free in less than 2years with $75 oil"
I'd be very careful around oil, and thankfully ENQ is with 2021 hedges.

I'm expecting oil to average 50-60$ over the next 2 years.
Current prices are manipulated by OPEC, and whilst it's nice, I don't see this lasting.

Current oil price is 3 year high, and I'm very skeptical. Take advantage wherever you can (and fill your car petrol tank to the brim!).

jj..,

Agree.
Dorothy has done well to keep damages minimal when she took over as chairman in late 2019 following the operational disaster.
She had cut costs, took leadership following resignation of CEO and Exploration director, kept finances in check and secured a good CEO for the company, all during a pandemic when oil prices hit record lows.

I only have one negative thing to say during her direction of moving the company forward - and that was early termination of the Maersk Venturer in Ghana to cut costs.
But following the resignation of CEO and Exploration Director, there wasn't anyone other than the newly appointed COO in March that could have directed the drills in Ghana. So not to blame.
Nonetheless, the drillship was extended for 3 further months to drill Ntomme-9 before early termination.

The delusion on this board is over level 9000!

ShrewdDude67,

Are you saying you wouldn't?

Yup, I'll buy under 100p

Since when did this BB become a letter writing service?

No-one is talking fundamentals anymore.
Must mean one thing (see image below).

https://i.pinimg.com/originals/66/c8/45/66c845ffa039f7c1b79ef23ad9583fe7.jpg

Tullow +9.08%
Enq +12.63%
Harbour +4.14%

Shame Hurricane has become a water producing company.
Hur -8.57%

"Chilting been very quiet today."

Prince Abdulaziz: the IEA's net-zero roadmap as the equivalent to being in “La La Land”.

I think chilting is currently in La La Land

just put the ballot paper in the ballot box at your nearest polling station.

Not hard!

9.96k bopd.

Game over.

"For the last time the company had a lot of free cash in the bank even today it might be 150mil$ "

Wrong. It'll be less than $120m in the bank by the end of next month.

There are NO OTHER WAYS OUT.
NONE. NOTHING. ZERO.

If you think there is another way out, do tell me. Give me an alternative to the 95% restructure.

Alavib,

If you really worked or had some knowledge of the O&G industry, you'll know where this company is at...

You say you've worked on O&G projects, but do you know how a CPR is conducted?
Do you know how 2P reserves are calculated?

If you know that much.. that's all you need to know to understand where this company is at.
Just give the SPE guidelines a read.

"Could you advise on the main points to put over as do not want to waffle ."

This is self explanatory.
There isn't a legitimate fraud act that has been committed.

"The Director may investigate any suspected offence which appears to her on reasonable grounds to involve serious or complex fraud, bribery or corruption."

Running out of money, reduced reserves/resources and a huge debt that cannot be repaid isn't "complex fraud, bribery or corruption".

"We will see ."

Incompetence isn't fraud.

No fraud here.