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Yep, following same MO as Friday, SP pinned, this time ~257p for large orders to fill ....
tradeTime currency price volume tradeValue type micCode tradeType venueOfPublication
2022-01-31T12:59:55.293 GBX 257 824645 £2119337.65 Off-Book SINT P ECHO
2022-01-31T12:59:36.510 GBX 257 1000000 2570000 Off-Book SINT P ECHO
As I said, interest in our little company appears strong, even at near record highs, esp these dark pool trades where you are unable to say if they are a buy, sell or just a share shuffle.
aimo & dyor
Newkotb
Just seen a few hefty trades gone through, you might be able to see them… 3 @ 2.57p, 12.50pm & 2x 12.59pm one trade for 1 million, 824645, 175355..
flexmw.
"Should say 100% in excel snapshot. But Does not effect NAV as I do not value it while in exploration mode (neither capex nor value) for simplicity. Mind u: If well is successful in Q3/4, it is major news!.."
Thanks, however I still find it difficult to understand how he made such a school-boy error in the first place, 25% has never, ever, been mentioned anywhere. Like I said, none of our assets at 25% WI either.
atb ... AIMO & DYOR
Newkotb
Just for you :
https://twitter.com/burggrabenh/status/1487082448727035905?s=21
Very good point, but would they or do they generally have any material interests in companies that they drill for. i.e own shares in them directly or indirectly. Thats what i was trying to get across.
How long do you think any drilling company would stay in business if they intentionally allowed drills to overrun in order to charge more?
but i wonder who has vested interests somewhere along the line with the drilling company serica energy will be using.
Maybe someone could enlighten me as to the integrity of the company involved with sericas long anticipated drill which no doubt will miss the mark and take twelve months to complete. Which should provide a special dividend to all those connected. inmho
Its becoming more and more obvious why the bod are not bothered how much capex costs as. As inmho its a gravy train for them and certain shareholders . which i would not be at all surprised have a vested interest in all the little offshoots that serica can supply. be it cleaning the rigs, supplying equipment, galley maids. and the golden egg so called the lot that drill the prospect
Eigg rig contract for Transocean Paul B. Loyd Jr will run / should run for between 70- 90 days imo, at last known day rate that's between $11.2m (£8.4m) - $14.4m (£10.8m) afaik. No idea cost of equipment etc but as you say this is SQZ, so could well be finger in the air as to final costs if compared to R3 HPHT well, however I would be dumbstruck if costs exceeded SQZ estimate of £43m, gross. Columbus Maersk drilling contract was for 70 days with contracted value of $8m (£6m).
ps Still no reply from Alexander Stahel regarding Eigg 25% WI btw.
aimo & dyor
Eigg
I just hope that they are not using the same lot that they used on rhum3. Otherwise 43 million will be a pale of insignificance. More like 430 million and then .
alarm bells ringing here.
Newkotb
I know, unbelievable… thing is he liked one of Maverick’s tweets yesterday… ;)
Flexmw,
Interesting he didn't reply to your query but manage to answer a later one ..... maybe he's ignoring yours !!
atb
Flexmw:, thanks for the info, couldn't agree more on sqz pr performance.
Knewkotb:, your EV estimate to be negative by end of year looks fairly accurate, definitely a cash cow, but does the market look down on companies that are pretty stagnant with their capital?
Flexmw,
I too would think it's an assumption, but given SQZ like to be the operator and have stated that as a preference when evaluating acquisition opportunities, why has he set WI at 25%. Other than Erskine (18%), none of our other assets come even close to 25%, appears over cautious to me given his experience.
Thanks for asking. atb
Newkotb,
I’ve just asked him regards the working interest, it may just be an assumption. I just read 500p intrinsic value… also £537million projected FCF for 2022…
flexmw
thanks for the link, just not sure why the companies pr are not more active.
These .... "There" ... lol
Nice to see his revenue for 2022 @ $1.05bn.... (£770m) which is in-line with my estimate of £766m
aimo & dyor
flexmw,
Thanks for that .....
Interesting that he has 25% WI for Eigg prospect, is it not !!
So who is he expecting to gain the other 75% !!!!
aimo
Serica Pr non existent really…. on the other hand the last couple of days Alexander Stahel : Burggraben Holdings has been getting the message out there, his latest tweet :
https://twitter.com/burggrabenh/status/1486702061932662791?s=21
These is a distinct difference between a 'leak' and 'those in the know', just saying.
aimo & dyor
$90 a barrel, .......'WAHAY'.
I think you may be right as this mornings price would seem to support that it was a rerate and not a leak. I just wish our PR was better in getting the message out to the general market.
I don't think its a leak, just the market pricing in higher gas prices for the foreseeable future and realizing that SQZ is totally underpriced. if gas stays at around current levels for 2 years, even £5 is peanuts
All I know is after the updat RNS the sp went down a bit, then a bit more over the following days. Everyone was saying how good the results were! All very well but, err the sp is falling........ So I set a limit to sell half of mine at 246p and of course it triggered at just gone 8 yesterday morning. By the end of the day the sp was up bang on 10%. Got quits plus a meal and a pint for selling the one tranche. Still have the other one and of course am up a fair bit.
All a bit odd. Maybe some share holder wanted out because of Ukraine or something, who knows.
Tomorrow..... I mean today (it's 12:15) will be interesting as 10% is quite a leap.
All IMHO.
All I know is after the uodat RNS the sp went down a bit, then a bit more over the following days. Everyone was saying how good the results were! All very well but, err the sp is falling........ So I set a limit to sell half of mine at 246p and of course it triggered yesterday. Then today the sp leaps by 10%.
Got quits plus a meal for selling the one tranche. Still have the other one and of course am up a fair bit.
All a bit odd. Maybe some share holder wanted out because of Ukraine or something, who knows.
All IMHO.