Member Info for Maverick7

but NBP is up today at 312 and rising

what are you talking about Contrary? Poster Leem1 said that "How is this climbing when commodities are imploding" to which i responded that TTF isnt imploding, exploding more like with NBP, which KIST have direct exposure to both

Are you and Leem1 the same?

KIST are acquiring assets in the West of Shetland from Total - 20% - could be more, effective 1st Jan 2022, this was RNS back in Jan-22

How is TTF imploding , have you seen where it is this last week

Since they announced the "Value Creation Plan", the share price has been out of sync with TTF. That effectively killed any share price appreciation.
Surprising that they haven't come back to the market on their intentions with that VCP.

I wonder if they intend to increase their proposed acquisition of 20% of Totals GLA fields?

this winter? where were you last winter

That explains why we are down 10p then

Hopefully a bottle of bubbly, a trip to the Bahamas and an Aston

How can JOG be similar to DELT when JOG have already found oil and are farming out their GBA find and is development ready - keep it real
DELT is still cheap now that they have confirmed the rig contract, i can see this tick up to at least 5-6p in short order

Will he do a U-Turn, doubt it, but lets see

https://www.ft.com/content/a9d57a6c-952e-4edd-8143-a4f044c1c34e

https://twitter.com/burggrabenh/status/1537131007303892997?s=21&t=aIWkE6qgnSFnxJgwCPkr0Q

I’m still amused by the comment that gas prices had peaked

https://twitter.com/burggrabenh/status/1537131007303892997?s=21&t=aIWkE6qgnSFnxJgwCPkr0Q

And also due to this

https://www.reuters.com/business/energy/nord-stream-gas-capacity-restrained-by-repair-delays-gazprom-says-2022-06-14/

The WFT doesn't seem to be much of an issue to KIST and they should be closing their West of Shetland acquisition in the very near future - infact they see it as a positive.
SQZ has now become a trading share, it will be back up for the Dividend and then Interims in September, trade to your benefit, no longer a long term hold unless they make another massive acquisition.
Eigg will no doubt bring about some games!!

Personally i cant see TLW keeping any of the North Sea assets, they are very much focused on Africa, ECO shareholders have been left in no mans land regarding drilling the Guyana assets for the last 2 years. And there is proven oil there.

“Why are they dumping on the open market” - either
- they are a distressed seller - unlikely - i would hope so as they are a major insurer & institution!!!
- they are conveniently keeping the SQZ share price low for a buyer
- they are simply taking profits as they see no further upside

Take your pick

Yes, i thought it was a strange comment, since when did they listen to shareholders. Its probably aimed at the large intuitions and the Hardys, i bet they want a special dividend as well if no further good acquisitions are forthcoming.
I really do think that a merger with another oil & gas company now is the better fit to fully take advantage of the new tax levy. Infact its a no brainer if someone has a near term appraisal or field that requires developing, we have the cash, they have the oil in the ground and we get back 90% from the government

as well as targeting the BKR assets as per RNS they should be farming in to other near term appraisals & development projects using their extensive current and future cash resources to truly use the tax incentives e.g:
JOG
I3E
PMG - Skerryvore
DELT etc...

Also, interesting comment from todays RNS about shareholder views at the forthcoming AGM:
" The Company will be holding its Annual General Meeting on 30 June and looks forward to presenting our forward plans in more detail and hearing shareholder views."

Any thoughts, TLWs focus has been on Africa of late

Is anyone able to interpret this statement ? They imply a dividend and creating a merger reserve.

Resolutions 14 and 15 – capital reduction
The Company currently has retained earnings of €23,001,000. Given the Company’s performance and the current market prices of oil and gas, the Directors consider that the Company should be in the best position possible to pay dividends should trading continue at, or close to, current expectations. In order to create additional retained earnings the Company is accordingly putting proposals to Shareholders to allow the crediting of an accounting reserve known as a “Merger Reserve” to retained earnings and to cancel €50m of the balance then standing to the credit of the share premium account – this will increase pro forma retained earnings from €23,001,000 to approximately €73.1m (approximately £62m).
In certain circumstances, such as where shares are issued in consideration for the acquisition of shares in another company, instead of creating share premium, an amount is credited to an accounting reserve known as a Merger Reserve. The Company has €14,734,000 standing to the credit of the Merger Reserve. The merger reserve represents the difference between the value of shares issued as part of the total consideration of the acquisition of Kistos NL1 and the nominal value per share. Kistos plc has paid €15.75MM of the total consideration by issuing 8,742,775 shares to Tulip Oil Holding B.V. at a price of £1.55 per share. This created a merger reserve of €14.7MM.
As in the case of a share premium account, the Merger Reserve can only be used in very limited circumstances. However, unlike the share premium account, the Merger Reserve is a non-statutory reserve and the Court does not have the power to reduce non-statutory reserves.
Therefore, it is proposed that the Company capitalises the amount of €14,734,000 standing to the credit of the Merger Reserve of the Company by applying that sum in paying up special bonus shares. The bonus shares will be issued to Shareholders on the basis of one bonus share for every Ordinary Share held on a specific record date (which the Company will announce by RNS in due course). Shareholders are also being asked to approve the cancellation of the bonus shares issued pursuant to Resolution 15 (Capitalisation of the merger reserve and cancellation of bonus shares) with the sum arising on the cancellation being credited to the Company’s retained earnings reserve. The bonus shares will not be admitted to trading on AIM, or on any other market or stock exchange. It is a condition of issue of the bonus shares that no share certificates will be issued in respect of them. The bonus shares will have extremely limited rights. In particular, the bonus shares will carry no rights to participate in the profits of the Company and no rights to participate in the Company’s assets, save on a winding up. The bonus shares will be transferable, but no market will exist in them and it is anticipate