Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
Last offload was by Amundsen Spirit on 26th Apr. POO was $20.03 on that day.
What are you classing as the last update.
Most recent information I have is from slide 16 of the FY19 Results Presentation, 22nd Apr.
Q2 20 160000 therms @ 40.8p & 160000 therms @ 35p
Q3 20 80000 therms @ 37.6p
Q4 20 140000 therms @ 40.3p
Q1 21 185000 therms @42.6p
Contract value was estimated at £5.9-9.1 million, in this report from Feb.
Should be at the lower estimates given whats happened over the last couple of months.
https://www.energyvoice.com/oilandgas/north-sea/225408/serica-books-awilco-rig-for-rhum-well-jobsqz/
I dont think for one minute that SQZ weren't interested in Andrew and/or Shearwater and highly suspect this may have been the deal Mitch was hinting about around Dec 18, but for whatever reasons it never materialised.
It may be something that could be revisited (with or without RRE) but on revised terms to the PMO to reflect the current climate.
The big difference for me between the BKR deal and the PMO one is the decomm costs. SQZ got an excellent deal form BP with regards to this on BKR.
To the best of my knowledge, PMO were liable for all decomms costs on the Andrew / Shearwater deal which may be considerable on aging platforms, although granted, costs continue to drop as technology improves.
Personally id prefer it if we weren't lumbered with these costs.
As mentioned, HUR v RRE is not a like for like comparison.
Go compare RRE v JSE where stripping out hedges, JSE are still commanding a $20 ppb premium to Brent due to LSFO as a result of IMO 2020.
Its a no brainer.
Not at all.
I'm assuming the market is taking into consideration RRE need their cash position to cover the costs they are incrementing to produce oil. Plus the future decon liabilites.
At current POO HUR, SQZ are breaking even or there abouts. Maybe making a small profit, maybe making a small loss.
RRE are paying money to produce.
Comparing Hurricane to Rockrose is like comparing apples and oranges.
One is an early life production/exploration company with potential (it would have been huge potential but the exploration part has taken a couple of hits over the last 18 months). The other is a later life production company with oil opex costs of $29, sure cash rich but at current prices not breaking even.
You’d be better comparing Rockrose to other later life production companys such as Serica or Jadestone, all cash rich, all have none or miminmal debt, but personally I’d prefer Serica or Jadestone to Rocksore as far lower opex costs, Jadestone selling a premium porduct at hedged rates granted lower production but higher reservers. Serica similar production and reserves but neither have those huge decon liabilities.
Anyway all that really matters to any company in the current environment is the ability to tread water and survive.
Im aware of, but not that familiar with Rockrose.
High production costs, late life assets and scarey decommissioning liabilities, it wont be cheap to remove those platforms.
Far better options out there in the current climate.
Saying that, if they dip below £5 again in the coming weeks I might take some for the short term.
Space. The Cromarty Firth is filling up fast.
https://www.energyvoice.com/oilandgas/north-sea/234247/cromarty-firth-rig-count-rises-to-17-as-low-oil-prices-hit-home/
That was quite funny.
Definitely composed by a Scot.
Excellent post Biffa.
"would HUR belong to England(or whats left of UK)"????????????????
Aye.......................Right.
All you need to do is google 'Neil Marchant - Asset Manager at Bluewater' and click on the FB link.
Its there.
Where you from Shhh?
Sounds similar Mommur. Have a good chunk of SQZ but have been in for over ten years now. Followed up with decent holding in HUR but ECO has been the favourite since the summer. Also taken a small punt on RMP for near time gamble stakes.
Hopefully if the POO holds and all the stars align i will be be retiring around 2021/22 when SQZ becomes fully valued with 100% of profit.
Makes up for all the losses chasing dreams in the Stans (VST, TPL).
They were infact 2.6p on13/3/03 when i was lucky enough to buy £1k worth on a credit card. I think they actually went down to 2.3p intra that day. I still think there is a lot more to come between now and 2021 as they follow through on there next five year plan.