Member Info for chinch

Agree Sasa - have we been sold down the river? Certainly seems so. Question to a new investor in SQZ, and what the facts are, would you invest? The answer has to be a no. Sentiment in the O&G industry must be at an all time low hence the low sp thanks to our wonderful politicians who have not got a clue.

I fear that this all my end up in tears down the line as posters have already alluded to what Mercuria might or will do. MF will be alright though with his fantastic salary and share options.

I’m not deramping but really just trying to work out where this is going and it’s not looking good. A few workovers here and there doesn’t look like a Company that’s going to smash the SP out the park.

Fingers crossed I’m totally wrong…..

Hi Sasa,

With regards to the uplift of production this isn’t quite right. Average per day to June was 49k, however, there will be maintenance required so that’s why the current figure will not be achievable and guidance from MF is significantly lower of between 40k -47k. Now it might be that MF is being cautious with the figures so that he can say they overachieved to make them look good but in truth a lot of companies underestimate figures.

The shares are cheap and always have been. True value has never, and will probably never be achieved. With hindsight £4.50 was a gift that should have been taken but only for people to say that £6+ was the right figure on metrics.

The whole problem here is the EPL that won’t be changed for another 4+ years. Labour or a pact with Lib Dem’s will create huge uncertainty for the sector as a whole. Just operating in the NS is not viable and we must explore other areas. Mercuria at some stage will get their hands on Serica so they are delighted that the SP is collapsing. There is no positive sentiment with investors and we and the rest of the world are about to enter into a recession which means less demand for O&G. OPEC will keep cutting production to support the oil price so the floor recently announced is worthless.

The only positive point is a commitment from MF to maintain or grow the div. However, that’s with a loss of capital through the reducing SP.

I wish I could be more positive but I’m just struggling to see where this is going….

I’d like to see something by the end of the week but there maybe non disclosure agreements in place to stop this.

Good article that. Perhaps another reason that Jamaica want to see this as a success is that they may want to move to being a Republic so they need every penny that they can get.

Add Labour into that as they were going to pay everything via the WFT!

I see Starmer’s getting the excuses in now already saying that they have 13 years of Tory economic mess to clear up so will have to change some policies because there is no money. That was always going to happen and soundbites as usual.

Politicians are really good at playing party politics at the expense of the ordinary Joe….

I’m not either Hippo but Brian did say end of q2. Also would like updates on Egypt and then of course Maria rumbles on…..

Keeping the BOD busy if nothing else…..

Atb

They have absolutely no clue…. Used sound bites to make them look good but now back tracking….

Should be a big week this week - let’s hope that Brian can pull something out of the hat….

Just listened to Keir on Sky News and god did he look uncomfortable talking about O&G. It’s as if he doesn’t have a clue not that he did in the first place….

What he is now saying is that to lower people’s mortgage bills he will use the WFT. So this “proper WFT” is going to have to pay for so many things it can’t possibly cover everything. He’s talking about setting up GB Energy creating thousands of jobs and seems really easy to switch from O&G to renewalables overnight. He’s delusional and risks putting not only our energy security at risk but increasing bills for everyone.

Our politicians don’t have a clue and we’re in a sorry state of affairs.

Interest rate decision this week. 13 rate rises and BOE think that this will curb inflation. However, hundreds of thousands are still on fixed rate deals. What further rate increases will do is bring the country into recession. Hold rates now and let it unwind naturally.

Thought the banks would take a hit at some point and surprised that Labour haven’t joined in. There’s going to a lot of taxing on business for the things that these politicians want as very low growth won’t substain it.

Gas back at 90p - forget the floor….

Well said Newk.

I’ve been very vocal about our politicians and how useless they all are. For Labour, how can you promise £28bn of investment and then pull it blaming the Tories? I’m not sure anyone knows but Rachel Reeves (current shadow chancellor of the exchequer) used to be on the bank monetary committee setting the bank rate. Incompetent at best.

The Tories are so weak - caving into Labour’s calls for a WFT when actually it originally got voted down in Parliament. The revised WFT will do nothing as the floor is too high. OPEC want to cut production to maintain prices so cannot see that the price will rarely fall below 71 dollars. They, along with Labour’s call for a “proper” WFT really don’t get what damage they are doing with O&G and in the end we will have to pay through increased bills due to lack of investment.

Finally the BOE have been sleepwalking and printing money like no tomorrow. Why did they not increase rates sooner?? Then we have the forecasts, what a joke as they get them wrong all the time.

We are a great country but run by incompetent people at the top.

Looks like we won’t get the money until late 2023 then….

Can you share a link or copy and paste please

All this says is make sure that everyone sells before the election

Ftse in general is down but this is a long play imo

Knocked it out of the park! Well done Amanda and team.

Newk this has been range bound from 2.15 - 2.40 since March. Don’t think this will change unless we get a draw dropping acquisition (we can all hope).

Wonder when the results of the new issue of the licences will be announced?

Atb

Its because Altice have said they don't want a takeover

Lol