Member Info for G_G_G

Seriously, who the f@ck is selling here? Makes zero sense.

well that's me out. i'm never going to invest in a nth sea producer again. i got smashed for £80k with delt. and even with an average of 130.5p i managed to lose money here. sold some yesterday at 132p so thankfully my overall loss was about £4.5k on this one. government are absolute f@cking ******s. i hate losing money on government decisions rather than investment decisions. feel far worse for the entire sector though. so many people are about to lose their jobs. that means less tax revenue from companies and workers. and more benefits. absolutely disgusting and the sector should be looking at legal avenues. the premise for these tax rates on an industry no longer exists. if they need the money they should be raising corporation tax across the board. it would be far more effective and result in far less jobs being lost. there's also record profits for banks, digital, private healthcare, food retailers, and weapons manufacturers. where's the windfall taxes here...?

That last 100k for 9.69p also me :)

I seem to be mopping up the 100k seller who is about. Interesting that someone is dumping in the low 9's. Now averaging 9.75p for 2.5m. Would love to lower this average so whoever is dumping please feel free to continue. I'd love to get more around the 9.4p level I snared this morning.

They need to look for legal angles. At the very least it will move the conversation toward outlining what damage the government is doing to a critical sector. Incredible how f@cking morons like Rishi have set in motion one of the most destructive and unnecessary moves against an industry so important to the UK economy. And because of this the !diot Tories can't take a hard stance against such moves, because they started the f'cking thing.

well that doesn't sound good at all. they've made one ****ty statement then left the door open for how bad the other could be. i cannot understand how the o&g sector has no grounds for legal action against the government.

Well I was the one adding at 9.78-9.8p today. The 50's and 100's are my contribution, alongside a 150. I thought it was odd that I could buy relatively easily at this level. Interesting the level of selling pressure today. I'm going to sit and wait for a little bit now. If we move to 9.5p then I'll be back for more. Would like to get an average under 9.75p.

Tony, appreciate the research and commentary the past week or so. I agree that O&G is looking quite +ve for Canadian producers in the near-term. AIMHO GLA

One thing's for sure, if the government don't go too far in their position, this will re-rate by a good 20-30% overnight. Few months before this is known though. Incredibly unfortunate that a halfw!tted knob like Miliband has been given this portfolio.

I don;t understand why the industry hasn;t started legal proceedings. The whole argument to tax an O&G which is critical to industry and the economy, without any credible reasons to do so is ridiculous. Making a legal case against the government would also highlight the stupidity of their position, especially given greenhouse gas emissions will increase on the back of their stated policy. Not to mention the untold damage to the livelihoods of people with quite specific skills. And the ultimate loss of tax revenue and energy security in an unstable world. The government cannot just tax any industry for any reason, when it doesn't do so to others, and continue doing so when their reasons no longer apply. Why not tax the f@ck out of alcohol given the damage it does to society...? Where's the sugar tax...? Fast food tax...? Windfall taxes on banking and retailers at the moment...? These industries won't leave the country like O&G will, and if they do they will be easily replaced. The id!ocy is almost beyond comprehension.

But why haven;t there been any legal challenges in the face of this lunacy....?

Jesus Bob, a bit much for a Monday morning. Production is going well (apparently). Fair to expect close to our highest ever cash generation this quarter, and hopefully some positive updates wrt dividends (2c), BBs resuming, and updates on drilling, Ecuador transport route, plus our recent acquisition. Erosion control I'm hoping is now baked in and there's no more bad news on this front for a while.

Hard to see why the sp is down here, but that's how one entering now can make a decent chunk of cash. Certainly not a slam dunk, but fair to believe we should reclaim the 45-50p channel. AIMHO GLA

Che7win, I guess it depends on whether the rival bid is legitimate or not. For all we know it's a 'friend' doing a favour to try and get TXP to raise its original bid. I don't believe the original bid was incredible value. Rather ti was valued correctly for production and acreage that requires a reasonable amount of continued investment to stand still. It was effectively going nowhere unless TRIN did a raise. It made sense for us as it gave us better production mix, additional immediate funds, and optionality in future when Casc is up and running. The new owner will need to stump up a considerable outlay (in cash), and then dump a reasonable amount of money into the assets just to standstill. So no real loss for us long-term providing PB hasn't sold us a pup with Casc. I agree with Aligator that short of TRIN closing the next catalyst for the sp will be Casc decline rates. This will either send us to the 40's or 20's. All down to PB having done the work on Casc whilst his little escapade for TRIN was playing out. AIMHO GLA

Get you Mommur. Looks to be the bottom for now at £500m mcap (I've found time and again the market loves round numbers). The hard floor I see at £450m mcap, which is largely based on 110-120 being a level that held for some time over the past 5 years (4 months post 1st lockdown aside). So 10% max downside form here. To put a proper rocket under the sp they do need to make an acquisition though.

Dividend payments clearly getting reinvested today by the looks of things. By my reckoning this will tail off by end of next week. Hopefully setting a new decent floor in the 140's. Commodity prices are the big unknown. Winter is coming, but more Russian gas off the market and Asia is buying more. I expect this year will be slightly stronger than last year. POO I believe will hold at the $80 range only due to OPEC manipulating it to stay at this level no matter what. More upside than downside, but then again the current sp is mind bogglingly low, even with a ret@rded government in power. That being said, they have played their cards so even this cannot get any worse. AIMHO GLA

Some truly excellent numbers, and that's without the extra 900bopd. I'd like to hear more about the acquisition closing on August 08th. I'd also like them to talk about increasing guidance given where production currently sits. And the dividend of course. I cannot see anything other than good news coming in 2 weeks. Hopefully it will be the catalyst to push us back to the 50p range, which is where we should be sitting at an absolute minimum. Only 2 weeks to go for an update.

Agree Supersport. It can only get worse with one of those two things happening. And if PB raises the offer with bad decline rates he'll f@ck the sp for a good couple of months i.e. it will go to the low 20's.

I can't work out if PB is a slippery character who over-promises and under-delivers, or has just had a few bad calls coming from genuine unknowns / ignorance. He would be very aware of the decline rates by now, so if he tries to get away a better offer and they're bad he should be put against a wall for crimes against senior mgt.

Either way we should be in a decent place. I'd prefer the offer to go through on current terms. But if it doesn't then no harm done providing Casc is delivered against forecasts. There will be a lot less work going into merging the businesses and clearing out people (inc Directors). And this time / effort can be focused on the huge assets currently held by TXP. If ever there was a reminder that he needs to focus on Casc it's now. AIMHO GLA

Been averaging down today a bit. Now 100k at 130.4p. Will chase this down if it weakens any further. This cannot last forever. And if I'm stuck here for a year I'll pick up +20p in dividends. I do however believe they will make an acquisition soon. GLA

i honestly can't work out wtf is happening here. firstly, can we force the deal to be done? and, what is condition 2.3? from what i can tell it's going to be pretty hard for these slippery pr!cks to be able to back out now. and if they do, then we're far better off not being involved with them. there's no way they are worth that money.

i think this is a shake down from a local outfit who are trying to get the txp offer up. the deal makes sense when the txp sp is in the low to mid 30's. in the 40's and we're paying over the odds for ageing production and limited reserves. especially when one considers the amount of resources to go at with casc. this is why i've said i'd lose my **** if we go back with an improved offer. pb should clearly state the offer that was approved by the trin board and shareholders is final. the company will not offer improved terms. and it will legally contend any moves to kill the currently sanctioned deal. they should then leave it. this other outfit has a matter of days to do due diligence and get everything in order. and even then they need to convince the local authorities and courts it is all legit. and if we miss out, then no harm done. they're a bunch of shysters and not worth having on board pulling this sort of thing.

NewK, good to know. Good thing is £200m is hardly going to break SQZ's big bank. And the main thing is they can scale production at a very fast, reliable, and cost effective rate in a non ret@rded country that is supportive of O&G. The Canadian listing will also help.

Still cannot get my head around the sp dropping when over 10% cash equivalent is going into existing shareholder pockets who have held until now at much higher averages. Beggars belief.

absolutely mind boggling what's going on here. the company desperately needs to pivot out of the uk. it's a f@cking mess. another company that i'm in could work well. small but has potential to add a **** ton of oil and gas in the coming years with investment. i3e is uk and canada listed (second listing helps a lot). it has more 2p reserves than sqz @180mboepd. current production 20kboepd (circa 40% liquids). all on-shore. mix of gas and oil. oil weighting can improve to 15kbopd with around usd$150m investment. hundreds of booked locations. wells are low decline - typically 15% per year. so many good things about this one. circa $25m debt. and has blue-sky acreage in a few areas. and they could probably pick it up for £200m. i'd do an all-share offer and then pump all serica's cash into driving more production in canada. just some thoughts.

i'll seriously lose my **** if we go back with an improved offer.

i'm not even sure how this plays out given our offer was accepted...? if we can't force the t/o the board need to bin these slippery f@cks off. to get this far with 'irrevocable undertakings to vote in favour' from trin board and major shareholders, and then pull this **** a week before the scheduled court hearing is outrageous. we should pull our offer. the sp crashed after our offer was made. hang them out and let this other outfit then drop their price. we don't need partners like this. move on and focus on casc.