Member Info for chinch

I hold here and will not be selling.

Only thing that bothers me is the drop on no volume of trading. Its almost as if somebody knows something......

Thx for this Nick. Excellent write up.

Did anyone attend today - were there any q&a at the end?

New guy experience in m&a - let see what he can do and must have a lot of contacts

I see AXA are selling down their stake in Longboat so we were not the only ones

Another deal done - when’s our turn?

So I would think the following should happen:

1) BOD need to query the exact content of the WT and the implications.
2) once known there needs to be a clear plan of what they want to do. Buy more licences, drill more, change production etc.
3) as the wt only started from yesterday there is time to discuss this
4) once the plan is arrived at I would expect rns to confirm - maybe not today but in the coming weeks.
5) the plan moving forward needs to be raised at agm as if they sit on their hands and do nothing don’t expect the sp to recover anytime soon.

All in my opinion

How about reducing production until 2025 and keep the gas in the ground and just drill s and n Eigg. Then we tell Richi to f**k off as we’re not paying 65% tax. Yes we all lose short term and will have to wait a few years but drill drill drill as it won’t cost a lot. If then we find something start production in 2025.

The long and short is that the sp will be depressed for sometime unless Eigg comes good and that is a big if with even Mitch not being very enthusiastic.

I just can’t see anyone wanting to buy us and if they do it won’t be north of £4 probably more likely £3.

Bp sold out - I bet they saw this coming.

Wasn’t there a vote by MPs for a windfall tax which was rejected? I voted conservative all my life - not anymore. We need a change as this country is run by cowboys. They don’t have any plans and are making it up as they go along.

I bet Goldman Sachs are rubbing their heads since they bought in…..

The wt will be here to stay for a good couple of years as will only be reduced/deleted once prices are back to normal.

Agreed newk - many years have passed since the bkr deal and nothing since. Could have overbought something a couple of years back which would have paid back handsomely today

Why the drop General. Please see post recently where it was thought that SQZ was the most exposed to a windfall tax.

RNs from the board to say how much this is going to cost?

Market reacting accordingly

Maybe you can’t read Luck or hear which is such a shame……

Mitch has played down the drill being successful from the 50% that is being talked about to about 30%. Let’s hope it comes off as SQZ are that great historically (Rowallan last drill).

Now run along and back to school where you belong…..

I'm not trolling Luck and hold a large position here since the 25p days so wind your neck in...

Suggest you read the article today where Mitch has said what I put in my previous post:https://www.energyvoice.com/oilandgas/north-sea/409334/serica-ceo-downplays-odds-at-north-eigg/

Also suggest that you watch the video on the presentation of results (38 mins) where he confirmed £100m:

https://www.youtube.com/watch?v=6CkQQfrnA2E

My point is that this is undoubtedly a £100m gamble with even the CEO downplaying the success. This would of course would be a complete waste of money. Why not put the money into better use by buying an existing play as they have always been harping on about? Seems a complete change of focus and strategy.

Very strange article with Mitch on Energy Voice website playing down the prospects of success for North Eigg. He said that the chances of success are well below 50% but the prospect is a good one and will cost £100m. In my view that is gambling. Why don’t SQZ just stick to what they have always said and that is buy producing assets rather than speculate on a drill which loses £100m?

Not great reading but of course unless it comes off. A game changer for the SP if it comes off or will tank if it’s a duster.

I’m sure there will be a few takers for the shares but yes SQZ should be buying them. Strange how they mentioned share buy backs and then hey presto BP offload…..

Bookbuild better than an offload so hopefully sp will not be hit too hard

Well that’s BP out and a board member retiring. Something happening?

Well the market should know that SQZ are drilling next month and doing a work over. Mgt are just hoarding cash they’re using it and to increase the div.

Thought this would drop today so bought some more this morning.

Atb