Member Info for chinch

Try telling that to the Jamaican Government…..

Maybe this is the turning point that us shareholders have wanted. BKR was ACW’s deal and nothing to do with MF. The only deal made with MF was Tailwind which was an economic disaster compared to the Kistos deal. A few work overs here and there just doesn’t cut it. I bet he was pushed given his miserable track record.

What we all want is a deal outside the uk and maybe, just maybe, we will have a new CEO that is ambitious and can see the benefits of investing abroad. We have a war chest now with the new RBL so,let’s use it.

Of course with MF going it could become a dog of a Company and Mercuria can now do what it wants….

Let’s have some ambition!

There are a number of ways of raising money such as a Capital raise via new shares, a loan taken against assets etc. with no income coming in it’s going to be difficult.

I wouldn’t be surprised if they ask BP or the Jamaican Government for financial help, however, no certainties this will come off.

Welcome aboard - any comments appreciated

Jono,

Have you read the part of the rns about Jamacia? The part where it relates to the production sharing agreement? I bet that this has been amended to the benefit of Jamacia Government and that BL has had to make concessions to keep the licence. Would be nice to know what the amendment is….

BL is chasing his tail- he’s a market trader not a businessman.

The whole thing is a shambles and serious questions need to be raised as to perhaps why key info was withheld, Maria Licence falling through and Jamacia changes to the agreement.

I too cannot believe the Jamaicans have extended for another 2 years - what due diligence have they done on UOG or are they trusting BL on his word???

how did you find that out *****us?

My thoughts today are with the thousands of people that will lose their jobs following the announcement by Tata Steel in respect of the Port Talbot plant in Wales. One of the main reasons is to transform the plant to electric and get rid of the coal fire blast furnaces. Victory to the eco warriors but at the cost of thousands of people’s futures. I hope they are happy.

So how does this affect SQZ and is it relevant? Well yes on both counts. There are currently over 200,000 people employed in the o&g industry both directly and indirectly and can you imagine the devastating effect that this would impact on Aberdeen if the same were to happen to the o&g industry? Chasing net zero goals will not come without costs and I hope politicians from all parties look at this before they start shelving the North Sea. Politicians will say that the transformation to net zero should have happened earlier with jobs transferring over to more green industries but there is no money about to do this and jobs are still required in the NS.

Tata Steel should act as a wake up call…..

Just shows how volatile these O&G stocks are with Harbour announcing a reduction in production and an increase in costs.

I have a feeling that the Jamaica license will not be renewed. If it was that straight forward it should have been done now. All the changes in personnel and the sale of shares by various investors gives me zero confidence in BL.

If the licence is not renewed then this co is gone….

There is absolutely no reason why the Jamaican Government take back the licence and do it themselves…..

I wonder if Jamaican authorities have lost patience?

Sleeping at the wheel Mitch, time to get out of the car….

Wish I had Malcy’s optimism……

I think that you can look at this in 2 ways:

1) SQZ about to bid or acquire new assets? Good news if the right one and not in the NS.

2) no longer debt free, appreciate that they have debt with Tailwind which is manageable. Wonder if they are going for something big but with a huge debt mountain? MF has always said first and boasted that SQZ were debt free and now we might not be.

Wonder also if Mercuria have been pushing MF to do some deals which never happened since BKR….

MF will be gone soon hopefully

Read the last rns. Additional work needs to be done to de-risk yet Ameen said the reason why the oiler pulled out was a change in their strategy? Which is correct?

I wish you all the best with UOG with a CEO constantly pulling the wool over s/hs eyes. If you can’t read between the lines what’s happening then you shouldn’t be investing.

The main point here is that you said the major oiler pulled out due to risk change and the rns said the asset needs work to de-risk. Which is right and which is wrong as I can’t tell and if it was a change of track, why was this not mentioned in the RNs???

Jonno,

I used to trust BL but not anymore. He’s in serious trouble over Jamacia despite what he might say. He’ll do well to save it.

I’ll keep saying that this is and always been a pure punt play but unless an absolute miracle occurs this is heading out of business I’m sorry to say. A raise won’t achieve anything now as all cash from that should be reinvested in the business - but what can you reinvest in??

I bet BL has a lot on including saving the licence!

Why has he put the failure of the farm in partner down to a change in their top down strategy when he clearly said that work needs to be done to de-risk Jamacia? Ameen - do not trust this guy…..

Every day he spouts constant lies and always blames someone else. The truth is he should be gone and start telling s/hs some truths.

Ameen,

An investors call would be good for then s/hs to voice their concerns with regard to the processes of Maria and Jamacia. Something defo amiss with both of these imo but only going on what BL has been reporting. Interesting looking back at the RNS from Maria where BL said he was confident of Maria now that the Uk government had provided more incentive for companies to drill with the tax offset, now he’s saying the same type of thing that companies want to drill new wells. Unfortunately, companies are pulling out of new drilling and not wanting to invest - theme sounds familiar and let’s hope with not the same results as Maria.

What I would like to know is what’s wrong with Jamacia. For the preferred party to pull out - why? What work needs doing and how much is it going to cost. Who is going to pay for it? Why was this work not identified before going to market that they had the licence for the last 2 years?

With Maria licence handed back will the same happen with Jamacia. The government of Jamacia must be spitting feathers and extremely upset with UOG. If they think like s/hs they will revoke and take the licence back. At that point UOG will be on thin ice to put it mildly.

As I said, new companies for Jamacia will want to know these simple questions before they even start contemplating drilling. BL has a lot of questions to answer from investors.

I’d also like to know what credit checks/due diligence was done on Quattro? Looks to me none so how can you sell a licence to a company that has nothing? Poor at best and incompetence at worst.

Salaries have been reduced by 15% but this should now be more to reflect no promised deals.

Not sure if UOG have the funds to pay off the loan so I would expect renegotiation.

BL is at serious blame here and has been painting a rosy picture but in fact the Company is going nowhere.

With so much money invested by you in here I do wish you all the best.