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Hopefully those bstd heads are not involved with serica. Maybe theyre cook book has sonething to add.not inmv and no ones else's.
newkotb
No worries, looks like i did, linked the ‘Kist on the move up this morning’ altogether with the pre-chat… let’s hope for some news on R3 or something back from Sasa …
ATB
flexmw,
"I'm still interested to hear the pre-presentation chat you dropped a hint on last week regarding KIST...."
Sorry flex, but there was NO chat about KIST just R3 and Rhum as per my post. Think you may have gotten hold of the wrong end of the stick.
atb & aimo
NewKOTB
I'm still interested to hear the pre-presentation chat you dropped a hint on last week regarding KIST, come on we're all ears! I'd like to add an earlier interview AA did with Malcy shortly after Kist was up and running he mentioned Serica in it which got my attention then.. only briefly but he didn't have to from memory..
Last year we had the RNS announcing the Interim results on the 2nd Sept with results due on the 10 Sept, it could be possible they're waiting on a minimum of a months production/stable flow, to be able to give some solid figures on R3 , however it would be good to get an RNS update stating R3 is online & producing & keep interest up & some momentum, come on Mitch!!
Another interesting observation .... KIST : SQZ SP ratio is exactly 3:2 on tonight's close .... makes working out a cash / equity deal more straight forward ! lol
aimo
Muckle,
"Where's this imminent RNS anyway?...."
Very good question. I find it particularly strange that no communication whatsoever has taken place since Boka left Rhum, 2 weeks ago, not even a sniff of an op's update. As for R3, unless they get R3 online very very soon it will not happen until Q4, early October imo as the consideration payable to BP would, probably (due to the 90 days clause) in effect cancel out any R3 financial gains between now and EoY.
aimo
Regarding the possible sale of the IOC share, as far as I'm aware until the u.s. sanctions apply all revenue from Ruhm are held in an escrow account, politically this would be a stalemate knowing the Iranians would play hard ball.
Just my thoughts and could be wrong.
Where's this imminent RNS anyway?
troubledseller et al,
Thank you ... :-)
atb
NewKOTB - Your attention to detail and posts are much appreciated by myself and others, thank you. Please keep up your great work. I too agree that Rhum 3 is critical and I think the disposal by GRG is not inconsequential but by strategic design, this has obviously been co-ordinated for some considerable time. Is whoever that is behind this also acquiring the IOC share of Rhum? Hence GRG's sale of shares. My hope is that Serica has somehow negotiated to acquire the IOC share. The elimination of GRG and Rhum3 news are strangely starting to dovetail. As I said theories and possibilities abound....aimo
TroubledS,
I have been tracking and commenting on GRG 'sell off' consistently since they began at the start of year ...... you are correct, in that I too think "Something is afoot !..." and I believe it all hinges on R3 as it has done since we re-entered R3 late last year and was initially expected to finish Q1 this ....
aimo of course & atb
NewKOTB - Think your point about private equity is possibly most pertinent given that GRG have sold approx 10% of their share in the company in the last few months and continue to reduce, we don't know where these shares have gone yet and why they are selling, I suspect it is something to do with the USA and Iran connection. These shares have not been sold on the open market, the maths does not work as some on this board have recognised. Allogie points out below the SP has also continued to rise while GRG have been liquidated. Something is afoot ! Theories and possibilities abound and keep us all entertained and interested, hopefully something left field coming that lifts our value. atb.
TroubleS,
"Surely you would expect a very high degree of correlation because they are both selling the same commodity...." Clearly there is association to the commodities involved, however, worth having a look at a few others Harbour, Tullow or even likes of BP against these, not what you would expect .... interesting if nothing else.
PS Private Equity with the likes of Neo Energy, Tailwind, Viaro and Siccar Point (who we can't show graphically) are slowly swallowing up North Sea assets. In 2010 the output / production from these PE owned companies from the NS was ~8% , last year the figure was ~30%, I can only see this growing further as PE's are swimming in cash which is in need of a home. NS players, including ourselves, still offer PE plenty of opportunities atm.
atb & aimo
Remarkable considering SQZ have had a persistent seller for the last 8 months ?
NewKOTB - Thank you for the link. Surely you would expect a very high degree of correlation because they are both selling the same commodity so the relative SP of both companies are loosely tracking this. Would be interesting to overlay the gas prices on the same chart although that would give an even longer link! Looking forward to seeing what plays out here, at least everything is positive and moving in the right direction for us all. atb