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Another tiny top-up at 108.8p for me this morning.....
It's an Arab backed and owned company that will take RRE, for sometime now Upomega has been floating the idea that the same may happen to SQZ ..... it now appears more likely than it did on Friday imo.
Our recent SP action and the presence of our endless BoT trades has concerned me for sometime. For those that have been watching RRE trades, there has been a similar pattern there too.
Rockrose money coming over here today. Can see £1.20 breached.
We need to do a deal and acquire another asset to fend off shy predators
Are we next on the hit list?
With an EV of ~£140m (~35kboepd net / ~62mmboe 2P / No debt / CoH ~£140m), 2019 Operating Profit of £88m, we need to watch our backs. Either the SP will not last this low for long or the company, which is it to be?
atb
.........."all O&G companies had a hard day today".............
NK - what about JOG?? +10.5p (8.3%). +35p (36%) up on the week. Still only valued at £30m and JOG's sitting on 142mstb of discovered oil (2C - 33° API) in one of the North Sea's best post codes (Greater Buchan Area - GBA). Plus another 200mstb of more than decent prospects in the same general location. They need to secure development funding (farm out would provide the bulk) but own 100% so there's margin to play with. Ignoring its other assets (inc prospects, cash and £30m tax losses from Trap Oil days) the market's telling us the discovered (and mostly proven to flow) oil is worth 27 cents a barrel. The present low oil price is a potential handicap but the industry thinks long
We'll see............
I'm long and strong in both companies (ie SQZ and JOG). I have more in JOG and neither owes me a penny after some top-slicing at generally appropriate times. My home now includes "the JOG suite" and the "Serica Extension and Terrace". I kid you not - you have to have a sense of humour if you risk your money in oil juniors on AIM - enjoy the wins to the full as they aren't that frequent in my experience. Timing is everything on the buying side -I bought most of my JOG in 2015 and early 2016 (9p to about 25p) and SQZ at between 14p and 26p a while before BKR (JOG's CEO has a very high opinion of SQZ's two main men - I asked him for his views before buying in. Even though only Erskine was in play, the company was generating cash and I loved the grey hair on the board - at the time only ACW and two non-execs, one of whom had a stunning background and owned 17% ). I know that others bought in as low as 3p or 4p when SQZ had a market cap of less than £10m. All I can offer them are my congratulations!
All the above doesn't make me any less keen to see the value in both companies unlock when inevitably in SQZ's case it does - hopefully within my lifetime as I'm getting on a bit and don't enjoy the best of health. I should be ok for a while yet though - only the good die young.
Hope I'm forgiven the slightly off-topic nature of this post. It's late and it's the weekend ...........it's just food for thought.
Thanks for the responses to my poser about the NED share disposal. I hadn't done the right amount of research. Looks as if his hands might have been tied. The others probably weren't too pleased :-)
GLAL
JTravis
https://www.serica-energy.com/downloads/presentations/Serica%202020%20FY19%20Results%20Presentation.pdf
Page 18 - dividend payment 24th July!
Not wanting to sound ignorant but this is the first dividend I've received since BP around 10 years ago, when should be expect to see the dividend payment in our platform accounts my Halifax is showing nothing as yet,
Many Thanks
Invitation or not, we are now oversold and in silly offer territory. BoT was on it like a rat up a drainpipe this morning .... pulled SP down from off and kept it low all day, although all O&G companies had a hard day today.
With an EV of ~£140m (~35kboepd net / ~62mmboe 2P / No debt / CoH ~£140m), 2019 Operating Profit of £88m, we need to watch our backs. Either the SP will not last this low for long or the company, which is it to be?
atb aimo
I think your right. I can see someone bidding for this now.. We must be looking very undervalued to someone taking an 18 month view.
Maybe that's how our BoT is now programmed!