Member Info for chinch

Do we actually need another deal??

Its the same story at results - people complaining about no deal, what do SQZ do with all the money etc. But actually if everyone takes a minute to look at the following:

1) How much the SP has increased
2) How the dividend has significantly increased

All the above without a deal and why? Easy because the BKR deal is now 100%, Columbus came on stream and plus Rhum workover has added thousands of barrels. Hopefully nobody is forgetting that N Eigg is to be drilled next quarter and spend is approx £50m plus there is a workover. Why go and chase a deal in this environment and pay over the odds for something that might not be worth it.

We have enough to be getting on with and N Eigg could seriously add alot of value.

For all those who want action, deals etc. this Company is not for you and suggest you invest in other O&G outfits. Management team have always been on the side of caution probably because they've all got experience of boom and bust years. Slow and steady as she goes and I'm happy with that - forget the need to dilute, forget huge debts to pay - this isnt this type of company.

Div increase in percentage terms is way higher than that sir!

It’s in there Quinton and all looking good on the cashbuild - another positive….

Looking at the positives rather than the negatives:

1) reserves have increased
2) div has increased by nearly 300%
3) hedges going forward will not be as bad
4) get Eigg up and running that will double the reserves

Glass half empty or half full??

Not posted for a while but still kept on reading the amazing posters on here and thank you for all the info.

I'm just wondering whether ACW will be retiring when the results are announced? He's been brilliant as we all know and maybe needs a break from all this and a long and happy retirement would be the order of the day. Perhaps with the appointing of new various Directors someone is groomed as a successor? Only a thought and nothing concrete but Companies usually announce Director changes at results time.

Finally, after purchasing at 25p then was going to sell at £1, then £2 and then £3, I think I might wait for £4-£5.

ATB

No getting away from a windfall tax at some stage. Labour and Lib Dems are both calling for one and pressure building on Tories to do something.

If anything like that happens it’s shareholders that get hit the hardest - SP will tumble and any div reduced. Let’s hope O&G industry stick together.

Bang all shares in an Isa and forget CGT

I’ve been an Insurance Broker for over 30 years and have followed Amanda Blanc since she was Made CEO at AXA, then Zurich and now Aviva. Breeds success wherever she has been, only negative doesn’t stay in a role for years.

When I look for a share I look for a good CEO and board and good product. Aviva has it all and they are far better than all other Insurers I deal with hence my purchase at £3.90. Whether income or growth I’m staying until she goes.

So with all this cash - what do you think we will get on a special div?

The SP is going to have to level off sooner or later and no doubt there will be some profit taking. Question is where does this level off?

And the relentless march upwards goes on :)

Gas over £2 per therm couldn’t be happier. This SP has got a long way to go yet….

Set the alarm for 7am

ATB

With gas hitting £1.60 a therm there should easily be more to come. Patience has been well rewarded and well done you.

A lot more to come hopefully

GL

What about the cost for Rhum 3? Will this take a shine off the figures?

Not if you put it in an ISA

No surprise the sp increased yesterday for those in the know….

Keep them updates coming - brilliant

Plus further payments from sales

Totally agree - always like backing Companies with no debt. Increasing boepd makes the debt easily manageable and looking forward to another good drill result

Hi all - can anyone tell me if the Company has any debt?