Member Info for legache

Yes, me and you too Southmead!

I simply can't bring myself to sell below enterprise value. If the drills in Morocco come in better than we hope we'll be saved. The value is so deep, its almost invisable.

Shaker is correct in his post of 1757. They gotta hit otherwise. Carnage.

Key point you are overlooking shakey. The drills could change the reserves situation here.

Yes, your historical analysis is fundamentally cogent. But. Some performance with the drill bit could add a different complexion and then, the two Ronnies could pull off a deal, stranger things have happened.

Good that they have reduced their footprint and thus risk. I would have liked all of the money to be used to fund aquasitions but share buy back will also be value accretive from this position.

IRO 80 million-plus to the balance sheet when Maari drops. This will equal close to 200 million USD in cash. plus 70% increase in production on current guidance, which could be beaten.

Very pleased to be heavily invested here.

Most people on this board know me from way back when, a shame this happened when it did.
I now hold just a few k. Sad that Peter Blakey never lived to see this. He was a decent bloke.

Not sure why could be dragging this down 5% - oil is flying and JSE are raking it in. Buy the dip IMO>

Rate hike fears?

Just think how the market would react to a real strategy and change of management. It'd hit the moon.

Shakey - i see your cup is half full again!

There's no magic in it. NT to buy just mean low liquidity - They have to raise the price. Put an order in with your broker.

13-Jan-22 15:07:02 91.00 250,000 Buy* 89.00 91.00 227.50k

Egypt is very oily. The trouble is the contracts are fixed, with limited exposure to the oil price. Hopefully laurel and hardy learn from this epic mistake going forward. If the Egyptians don't want our investments, then there are opportunities everywhere these days. Look at what paul Blakey has done with JSE, no that's how to run an O&G business.

What are they going to do with the cash... I wonder what Blakey will pull off... Or will he pay a super Divi. Or, perhaps, nothing...

You're missing the point Dick, and its not about feeling holy.

Whatever your own POV is on Mrs Miggins and i certainly don't agree with everything you've said, super divis for SQZ shareholders will go down like a wet fart when you have people who can't eat because of gas prices. Politically it's just not going to sit well. The argument that they've paid tax anyway isn't really going wash because like you say, the UK is already on its last legs and needs every penny it can grasp to educate and treat our people.

Muckle, completely agree!

Mrs Miggins father might not have been Lord Miggins and therefore she didn't get the networking opportunities and education conferred through private schooling, leading to worse life outcomes. Maybe she works her tits off as a teacher or nurse for comparatively low pay, whilst educating your children or looking after your grandmother.

Just saying, realizing news of a massive divi at a time when people cannot afford to heat their homes because of the injustices of the economic system which we collectively have built, is not going to paint a pretty picture.

I am certainly no commi, but we need to look out for people like Mrs Miggins.

Surely not the environment to give shareholders a super Divi, especially whilst Mrs miggins down the road is having to choose between heating and a spam sandwich.

What gets my goat is this works both ways. Should we see low gas prices i can't see consumers being made to pay us back. It's market forces folks. We need to learn from it and step back on this silly green stuff in the short term. Imo.

https://www.malcysblog.com/2022/01/oil-price-angus-advance-sdx-and-finally/

Furey, kudos for holding on and being so stubborn. I've got rules and if those rules get broken i walk. Lost a packet here, but saved myself an even worse fate selling around 16p ish. Small reentry last week.

Fair play to you for not bailing!

The lads running this business now are of questionable caliber. All I see is discipline when a little risk-taking wouldn't go amiss.

TBH, the risk for me is the management decision making being wonky [er]

The financial risk is becoming less... As another poster said, they should be producing 50 million USD a year in netbacks.

It's what they do with that cash that's the issue [more duff zero value wells in Morrocco, probbaly]