I note the latest licence's bought by Serica around the York field have been relinquished as the joint holders don't feel any prospects are suitable for an exploration well. Chess play perhaps by Centrica as any extension of the York field into this licence area would have tapped the same reservoir. Similar to BG drilling into Columbus.
With BP sitting on 13.5m shares, lets hope they stay for the long haul this coming July when they can sell.
Marking time unless Columbus decision transpires - Erskine renumeration less than planned - or POO recovers
still generating cash ..... cash breakeven is $20 Brent ..... Also using forward Brent prices, Columbus will generate cash whenever it starts up with $30 breakeven (assumes gas trades in line with Brent at the usual 6 mcf per bbl equivalence, which it is doing now and should continue to do so) ... GLA ...
Why am i apprehensive with mine being one in a million ? Every time SQZ gets a leg up - something occurs. Besides Erskine figures at this low POO - we have BP with 5% up untill June/July then they can sell. I hope they don't but like everyone -would like to see some sort of recover in the oil price before then
Datafeed and UK data supplied by NBTrader and Digital Look.
While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.