Member Info for chinch

I agree - patience is required

Yes New and where was the SP then and where is it now? Look at what is planned as a positive and any deal as a bonus.

If II want to invest money it won’t come in overnight so maybe expect some more action with the lead up to results.

I’m not selling and you have to expect bumps in the road after all this is an O&G play on AIM

Stop panicking everyone! Nothing has fundamentally changed although gas prices are very low.

This even more of a reason to diversify (oil) and am sure that the BOD must be aware of this.

Someone raised the point that we may have missed the boat on deals but I can bet that we have bid or been interested in a deal but it’s just been right. No point in overpaying for something.

Look at the presentation and the timeline for what’s coming up in 2020/1. Yes if there is another deal that’s great but there is a lot of activity on the horizon.

Patience is a virtue....

Interesting question with regard to the dividend. Glad they’re doing this for a number of reasons : 1) keep looking after shareholders 2) they must know institutions will like this and therefore buy in so SP must go higher surely? This might take a bit of time though as you don’t simply transfer funds over in a couple of days so if there are large buys coming (like today) this is a good sign. 3) By paying a div does this mean no acquisition as if one was on the horizon then they would need every penny for a large deal?

My thought is that they will start off small say total 2-3p and steadily increase over the next couple of years as the BKR deal gets better and hopefully Columbus, Rhum 3 and anything else comes online. You don’t want to overstretch too much and as we all know O&G companies are extremely volatile (well maintenance, shutdowns etc.).

I bet Mr & Mrs Hardy are looking forward to the div - that would be a nice bonus for them and fair play why not? They took the risk and has paid off big time.

Cashing rolling is great but my only concern is what does £100m buy you in the takeover stakes? Probably not a lot without that dreaded word dilution or a BKR type deal which might be unlikely unless we takeover another asset owned by a major. Also there is enough to work with for this year and next to increase production. Going to have to do something as Bruce and Keith will not go on forever.

Incredibly frustrating that no acquisition has been done but please SQZ don’t jump into a bad deal - just cherrypick the right deal.

I’m personally holding for 18 months - 2 years when I would hope the SP would be a lot higher than today.

All in my opinion and do respect other people’s views.

Atb

I like the maiden div bit. Institutions should now be buying

Sounds like a good deal for PMO but look at that debt and the opposition to the deal has started early from a creditor. This I personally think is the problem with some O&G companies that they have way too much debt and any downturn will lead to severe problems.

Was this the deal for us - probably not as we would have had to raise extra funds - a lot of extra funds. I’m sure the BOD would have looked at this but then realised that it’s simply not affordable even with the low interest rate environment. I know people are frustrated like I am with the lack of another deal but it has to be right for everyone, shareholders included.

Patience again is the key and the right deal - it will be worth the wait imo

Old just read one of my previous posts. Has a habit of peaking at circa £1.40 then walking down to circa £1.10 and then back up again. Beginning to look cheap again - let’s hope the hedge funds and venture capitalists have something better to spend their money on....

Atb

I was in Nighthawk - great Company until they decided to drill dusters when the oil price was at its lowest. Should have taken the profits but didn’t and learnt a lot from that. Making sure I don’t make the same mistake twice although SQZ has more than made up for that loss being in here since 30p!

That’s a great point mommur. In my experience you get buz shares on aim, everybody talks about them, piles in, thinks they can go higher and they hey ho they fall back as quick as they rose. With Serica it’s steady as she goes, always going to be up or down but not like 20% + that we see with some AIM shares. I also think that not to takeover a Company who is effectively a driller is the right thing to do - too much fluctuation in SP if you hit a duster.

I can just see a nice steady ship with the management sailing through calm waters, not rocking the boat. A deal will come I am sure but it’s patience and the right deal we all want and I’m prepared to wait.

New - we’ve all seen this SP action all year really. Surges on results and any positive news then drifts like a barge. If you sell at around £1.40 and buy circa £1.10 rinse and repeat you can make quite a nice profit. Only downside if a deal was announced then you would miss the boat. I’m really not bothered at the moment seeing the SP drop - nothing’s changed and if anything will get better.

My last point is that I cannot believe our wonderful management team are sitting at their desks with nothing to do. I bet they have already bid for something that was unsuccessful or walked away from a deal which just wasn’t right. There’s been loads of M&A activity in the NS. If you think about it as long as the money keeps rolling in then less debt or dilution which will be good for us in the long term.

ATB

Full of good info and enjoyable reading. Please keep it going.....

Profits are up but Dave Lewis is out that might spook the market

Thx for the technical input and much appreciated

Events within the next 3 months or so:

1) OFAC licence to be renewed should be early October
2) is there a deal to be had - certainly looks like it the way Mitch is talking
3) licences up for grabs
4) gas prices should start to increase due to onset of winter
5) another 10% to Serica from the bkr deal from 1st Jan

I’m not trading this share as news could hit any time and miss the boat

Atb

Or another deal.....

See rock rose have announced a div must be something happening for us not to get one

See we keep adding a penny or two each day. Slowly, slowly catch the monkey.....

Gas price hedged but not all at 35p now currently 39p. Actually should go higher with winter around the corner.

If this doesn’t get the SP moving only a deal will although what’s happening in Saudi might add some. Roll on next week

With all the action in the North Sea at the moment surely but surely we will be knocking doors down to get a piece of the action?