Member Info for FlyingF

Volume on Bloomberg suddenly jumped to over 1 million now?
Good buy for you at 1.35!
Looking to get more myself.

Anyone know why price dropped? Seems to be recovering now a bit , couldn't find any reason for it ?

Good post , shows how cheap this is. Funnily enough the last time SQZ were at £1.20 was after they found Colombus, it was when they couldnt develop it because of BG being a nuisance that the share price got sold off.
When u take into account BKR , Rowellen , Other deals in prospect, Namibia , its price potential is a big multiple from here.
GLA

Lost me few grand too , how they didnt find oil in Uganda still amazes me given that Tullow and Heritage hit pay dirt 29 times out of 33 drills !
I cant believe they are still breathing either .It will be bloody ironic if they do make a decent strike eventually!!

We would all have liked both the recent wells to be strikes , however given that theres oil somewhere and the Gemsbok formation is a "trap" unlike the other drills im not bothered in fact it gives me more time to load up at 2 p.
Ive always considered the chances of success at about 5/1 , after 3D sysmic im sure our COS percentage will rise nearer 20% so thats about right. However if we strike the return will be more like 100/1 and we fail , at around 2p whats the down side with the cash in balance sheet.
Obviously if theres a fundraising to do our own 3D the equation changes but then so does the possible return from the farm out so Il still stay with it.

In total agreement with other posters on here that 8 to £10 is doable . Been here for 5 years steadily buying from 40p down to 4 p and back up ! SQZ has to be the biggest NO BRAINER in the market. Dividend policy will be interesting also a move to main market? Lots of fun ahead!
GLA.

Sorry not at work today so cant access Bloomberg.

Read a report on Bloomberg from BP yesterday which essentially re stated remarks they made previously re their future criteria for oil investments. They want large scale but low cost extraction, near existing infrastructure and near an existing BP project.
All criteria looks like a description of FRR !!
I would expect BP is in the frame.

Why would Zaza invest another £ 1 million at 0.58 if there was any chance of this going bust ? Oh yes I nearly forgot rich executives with inside info like losing money!!

Why would Zaza invest another £ 1 million at 0.58 if there was any chance of this going bust ? Oh yes I nearly forgot rich executives with inside info like losing money!!

It is a concern, but yesterday when the US announced a reinstatement of non oil sanctions , it was also stated that oil exemptions were up for negotiation on a case by case basis. That said, Serica must have a good case given the involvement UK authorities etc, so im optimistic it will be ok.

Surely now it would make sense to move to the main market? Its the only way we will see a sensible valuation, A move accompanied by a scrip issue would be allow greater liquidity for all the tracker funds and other investors who would surely need or want a piece of such a great prospect.
Any thoughts?

With the cash SQZ will be making it should be easier to get Columbus up and running especially since the government has set up the Oil and Gas Agency specifically to promote the commercialisation of existing oils and gas finds such as Columbus. They are well aware the infrastructure wont last forever and will be too expensive to replace and so need to get the resources ashore asap,

Gave up looking at the IC decades ago - a reverse indicator if there ever was one.. Long term holder of Serica and holding tight, its got £2 plus written all over it. GLA

Tower like Global are essentially wildcat drillers , high risk ,high reward, if your unlucky and Tower seem very unlucky ,then you end up with a bombed out share and billions in issue and some very unhappy punters , such is the nature of the beast.Global did indeed take part in 2 drills in Uganda an area where Tullow and Heritage made thier companies, by being successful in about 29 out of a combined 33 drills, an unheard of average! Tower managed to drill 2 dusters - quite a feat given the stuff seeps out the ground! The thing I like about Global is the way it has kept the shares in issue to only 200 million , has cash in bank and an upcoming CPR/farmout which it will get a free carry of say 20/25%? Its like a 50/1 bet where the odds on success are maybe only 5/1 and if you lose , you can probably get your money back if you havent already sold a portion at a higher level before the drill!

Been in SQZ for 5 years and not selling any time soon , was really hoping another position came good in time for me to load up more in Serica, it was a no brainer, but looks like i'm too late and I will have to stick with what ive got.. Looking at their prospective earnings on this deal, factor in Columbus,and then factor in that Serica looks like the go to company for these legacy North Sea fields deals whether from BP or anyone else , just 250 million shares in issue , this could seriously become a 500 mio to 1 billion company leaving the shares between � 2 anf �4. The shares went over �1 when they found columbus initially. If the shares do trade as low as 50p for a while then maybe I will still get my chance to load up further but I dont think so. Good luck all , enjoy the ride