Member Info for FlyingF

upomega- was thinking the same, it is taking time, was hoping its because Shells 28% was up for grabs as well, they didn't want BP's holding so obviously aren't too keen? That would make SQZ the operator plus its the platform Columbus is going to connect to. Interesting times...
ATB

Agree with SP250 , BLOCK 12 belongs to the Georgian Govt and i'm sure they couldn't give a stuff about Caymen or Texan lawyers or Hope for that matter. They do care about keeping on the right side of the USA though and stitching up FRR wont go down well, and especially stupid when there is so much to go around.
I don't think this is over.
ATB

I'm sure the BOD know their business better than most but I cant see the sense in getting involved in a bidding war for Zenor paying anything like the mooted $500 -700 mio for a company producing 5000 boed which MAY increase over the next 3-4 years when BPs 27 pct of Shearwater is offered to Shell for 250 mio ? which gives 17000 boed immediately?

Agreed NewKOTB , £5+ is certainly on the cards should our speculation materialize, but when you throw in Columbus , Rhum drill , move to main market , dividends etc etc , its not difficult to be very positive! We could be producing , what 80k a day with all the above ? £5 would put us at £1.3 bio , Tullow does 94k a day and is valued at 3 bio , maybe not a direct comp but interesting all the same.
Anyway fingers crossed for the renewal and the market does look very quiet , its as if its waiting for something.......
GLA.

So why did Shell not buy BP's 28% of Shearwater for $250 mio? When first mooted in the press they speculated BP would want £700 mio !! Clearly at that price it was out of SQZ financial scope but not now. If Shell didn't want it they must be considering selling themselves and this could be perfect for SQZ who could then be operator which is their aim.
This or a deal like it would send share price ballistic and to my mind is far more appealing than a merger which will likely be at a very full price and benefits slower to materialise.
GLA.

Well if its a t/o we will be sold on the cheap and I wont be happy, if its SQZ t/o another another company it could be expensive and I cant see why they would want the SP artificially depressed.
I'm hoping this is the lull before the storm of another transformational deal which could propel the SP into orbit from here. Growing cash pile , and a target rich environment , fingers crossed !!
gla

Just seen story from 24th April , https://uk.finance.yahoo.com/news/shell-talks-buy-bp-stake-north-sea-gas-101130599--finance.html
Interesting that the price Shell is supposed to be paying is $250 million ! Original estimates predicted that BP was looking for £700 million (which always seemed a bit toppy) and this would have ruled out the chances of SQZ competing for the deal. SQZ are planning to tie in Columbus to the Shearwater platform, shame we couldn't have agreed a deal for BP's 27.5% , with a cash balance of over $100 mio by now, if the deal took 6 mths to complete SQZ would have had possibly 2/3rds of the required sum by then and the rest could have have paid with an earn out pretty quickly. Shearwater is due to produce 70,000 barrels per day so the BP share would be around 20,000,
putting SQZ on 50,000 per day, probably making for profit a year than the present total worth. Obviously Shell is the operator and maybe made more sense to BP than Serica but it shows the possibilities out there.
GLA

I agree with the share projections , the BOD certainly don't lack talent or ambition (or cash) and given the BP association (Shearwater? heard nothing about that lately) I think another big deal is on the cards and £5 might be seen quicker than expected..
Unlike most aim stocks i'm looking forward to the next share suspension !
GLA

Projections for $1 billion in cash in 4 years are certainly achievable and highlight the possibilities open to SQZ for its next deal, which given BPs planned divestments of N sea assets could open the way for another 'transformational deal'...
Cant wait !
GLA
/

Just checked the SP and news today , what a shame I really thought we'd hit pay dirt there . However it won't make much difference in the SQZ story . Shame also it was so obviously leaked , it did cross my mind over the last 2 weeks it was insiders doing the selling but no surprise I suppose .

Liberiam Capital raised target to 35 from 30p based on Palladium price saying SLP was their preferred play.

MMs know there are many people sitting on profits here , ideal scenario for a tree shake during a lull in news. SQZ should be substantially higher and IMV are the biggest no brainer in the market and they want your shares....

I certainly hope so , the shares won't be down for long !

They want your shares...

Agree its a great company and way way undervalued, ive been a holder for years. Cant help thinking the present state of SA is the main problem?

I cant see BP caring how many shares are in circulation if they intend buying us out which must be an option for them, (as long as Georgian Govt are on side). Its just a question of valuation divided by number of shares(as always).
The question is how much will they pay ? FRR have already spent the equivalent of what , 2p a share on development?
more?
£2 billion would be reasonable as a buy out figure IMO , small change to BP, and a bargain but still gives us a decent exit .
However I think the consolidation if it happens is more about continuing as an independent.
Anyway I dont think this is over and im glad im not short!!!
GLA LTH.

Not great is it ? but typical FRR , who else could be snatch this travesty from the jaws of victory?
However , bearing in mind some strong US interests hold shares in FRR , senators I believe, also with BP and BH the obvious partners, would these 2 reputable companies that obviously want to look and act in an honest equitable way , be willing to enrich a BOD that has shown itself to be ripping of all its shareholders?
Given the political fallout , I doubt it. I fully realise it could transpire for a number of reasons that we are stuffed, but I havent written it off yet.

I looked at the story on Bloomberg , very interesting for sure. They did mention however that BP were looking for 'several hundred million ' from the sale? Might be a bit out of reach for SQZ unless BP offer very favourable terms which I suppose they well might. Fingers crossed.

Share price looks under some pressure, maybe expectations of a fund raise for 3D seismic?

Been in this one for 10 years . Lets face it, it was never going to be straight forward and smooth sailing with FFR !!
Cant believe SN and Zaza dont know what they are doing here, ultimately they have a damn sight more to lose than any of us do. Have a sneaking suspicion we are not done yet......
GLALTH.