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Have you seen the latest COVID numbers in Scotland DBNO, it's like flu in summer which is bad enough but wouldn't be going near Carnival once weather turns. and what is this drop in fuel price you mention, the $1 from this morning's high?
Good find Kign there was a bit more to it and very interesting cheers.
Hopefully if this is true there is a giant discovery, we have the infrastructure ready there, hopefully we can revive Arun again," he said. To note, Premier Oil itself has drilled the Timpan-1 exploration well on Tuesday (10/5/2022). Meanwhile, this exploration well is located in the Andaman II Working Area (WK), 150 km north of Lhokseumawe City, with a seawater depth of 4,236 ft.
This exploration drilling is intended to test and evaluate the potential gas content contained in the Timpan structure located in the western part of the Andaman II CA. The Timpan-1 well itself was drilled vertically using the Drill Ship West Capella drilling rig.
A lot of good debate and differences on what we all want with this cash pile, it's a good place to be in.
My main reason for caution is Uk / Europe's economies can't survive a cold winter and £3.50+ a therm , something has to give so I'm for huckling down until March and see how things look. If BP or whoever want to give us a field or two at a good price that needs workovers to keep it going for a few years then all for it but the company is in a good position with all of the hedging coming off in 2023. If N.E. comes in, then that's the route to go down, if it doesn't, return some of the excess cash and wait for a deal at a realistic price.
I've got to disagree on a couple of things.
SQZ should not be making any large aquisition at the moment, there is no value on buying production with gas and oil above $100. Value will be through success with the drillbit with the WT in place, it's almost free drilling.
As for share buybacks, with the market-cap on track for around 60-70% net cash by year end, then there is no better value out there, none whatsoever than for them to buy their shares back at anything under £3.50.
These views might not suit short term traders but those hapopy to stick a lump sum in and wait, they will be rewarded unless all the drilling fails.
I invested here because HBR confirmed at $84 oil and £1.25 a therm gas (post-hedging), they had $1.7-1.9B FCF if you count the dividend and £1.3B capex. Therefore at this rate they will have zero debt in 2023 and after the buyback will have a market Cap of £3B at £3.45.
It is what it is, buy hold or sell, I'm holding and buying.
No one is interested in trades unless posted real time, most investing boards are polluted with look at me posters happy to post any trades in their favour but in reality everyone knows it's nothing more than look at me, I'm brilliant. It offers nothing to the board other than to the poster's self-esteem, everyone looks at their curled toes and tries to dodge commenting. I'm not saying where you fall in this field but ask yourself did your post actually inform and enrich the community, happy investing
I'm probably as bullish as anyone on this jumping at least a £1 pretty quickly but even I've nailed my hands to the desk until I see how the market looks by Monday. Have enough but looking at going ovwerweight once the market digests the interest rate rises.
I think Serica are worst hit due to the BP dump of 5% of shares at £3.65 and question marks on the timing between that and broker notes etc
But no use crying over spilt milk, what's done is done and here we are about £2.70, I'm mindful that we could be facing a recession or even a once in a lifetime depression so I'll drip some in and review other holdings. I presume that our chancellor never added any small print that he would he would void the tax if prices fell considering that's unlikely?
This should be over £4 within 12 months if drilling is a duster. They added £142m to the coffers in the first 110 days of the year with Rhum down for 17 days and anything between £63 and £95m paid for the final installment of the BKR deal. Net cash must be above £400m at the moment. Hedging drops by 20% in 2nd half of 2022 and if gas goes about 200p for few months in winter, I'd say the company should have around £600m net cash against current market cap of £730m. Great one way bet on drilling in the 3rd quarter once it come round. I added today .
Who is on the other side of the hedges that Serica and Harbour etc have, if there ends up a windfall tax, surely the hedge companies more than anyone are making the most profit with zero reinvestment?
https://www.biospace.com/article/ovoca-bio-s-nasal-spray-for-low-female-libidos-in-mid-stage-trials/?s=115
Responsible for the interest ?
They seemed confident that everything required for authorisation was with the health ministry to the point they had opened negotiations with a Russian manufacturer for supplying the Russian market once approved. The Co-vid lockdown in Oz could delay things there if it is a long drawn out affair was my interpretation.
Not much of interest, they are basically await the thumbs up in Russia for the spray and are in discussion with a producer there. They are building up to the 470 trial limit in Oz and NZ although co-vid lockdowns may interefere with adding new and monitoring existing patients.