Member Info for Maverick7

jimmy, i would suspect that every man and his dog will want in and thus it will be oversubscribed, AA just said that they are looking at further acquisitions and as others have already said, previous employees at RRE will also want in now.
If they are able to raise equity at a premium to the current share price (which i think they can), they will have enough cash for the current and next deal

And gas prices have gone up since 2020 and the forward curve is rising further

· The group to be acquired recorded aggregated EBITDA1 of EUR 30.60 million in the year to 31 December 2020 (2019: EUR 36.27 million) and profit before tax in the same period of EUR 16.27 million (2019: EUR 38.66 million).

· The realised gas price in the year to 31 December 2020 was EUR 11.58/mWh (2019: EUR 12.55/mWh). The realised prices and forward curve imply an average 2021 gas price of EUR 18.30/mWh.

yes, they will be raising equity at £340p a share

Some further info below

https://www.offshore-mag.com/regional-reports/north-sea-europe/article/14198984/waldorf-production-pulls-off-two-uk-north-sea-transactions-with-cairn-energy-ithaca-oil-and-gas

2022 is good, its a date and gives some transparency and time to top up

lol, seems that phoebus is getting excited that other people are getting excited, wake me up when we get firm news of drilling timescales, i can wait
Looks like TLW are pretty much concentrating on Ghana (90% capital focus), so it looks like they will farm out Guyana, that is looking more and more likely and thats why people are getting excited

I see this outfit is paying $460m for 21,000 barrels ie buying the catcher & kraken interests from Cairn. The website for Waldorf states:
“ Our current assets are located in the Central North Sea and consist of four producing (Alba, Bacchus, Bittern and Enoch) and one development asset (Columbus).”

So who else has interests in the central North Sea and Columbus???

Seems that private companies are snapping up oil & gas interests in the safe haven of the UK. Don’t really understand Cairns strategy apart from they want to focus on gas.

Anyway, what’s kiosk Kate been up to for the last 15 months.

Just as well our blocks aren’t in French Guyana then and we already have 3 discoveries two of which are in the tertiary Orinduik block. Cretaceous is waiting - patiently.

Now that QP have formally joined the party I expect news of drilling to come pretty quickly in the near future

Anyone know what they are on about regarding “spudding”. I’m not aware of any drilling?

its not about rhum3 being a gusher and then all bets are off for an acquisition, the business needs to have multiple assets and not be reliant on a couple of assets. Need to diversify as well as manage risks by reducing asset downtime if they occur. Also these assets are getting older and its inevitable that depletion will occur.
Acquisitions are necessary and the cash needs to be invested appropriately.

"112.54" - mates rates

yes fields are declining but the cash pile is growing, rhum3 and Columbus will add further and then there are some exploration possibilities with North Eigg.
I agree that we cant wait forever to use the cash pile on an acquisition, assets must have got a whole lot more expensive, the "buyers" market just became the "sellers" market
If no acquisition this year, they need to return more cash to share holders by increased dividend frequency

Both SQZ & KIST have been trading in a relatively narrow trading range - wonder if there have been any discussions between the two. Maybe the "deal" needs to be done at a "fixed" price for each stock hence the non reaction to recent gas and oil prices?

makes you wonder if the share price is being held for a major transaction? Surely Rhum3 drilling is not holding back the share price

Interesting to see what Enquest are paying for acquisitions

$325m for " immediate incremental production of c.10 kboepd, c.18 MMbbls to net 2P reserves and c.5MMbbls to net 2C resources1" which includes taking out additional debt
I havent read all the detail yet, just some numbers that stuck out

milder weather next few days turning colder into next week - when it should be back up

Just set high limit orders to prevent your shares being loaned out

Great to see what’s going on over the pond - may they burn in hell. About time shorts were banned over here, no wonder the ftse has hardly gone up over the last 20 years

i hear that Elon Musk is after some cheap oil rigs,

Is it still on ice? When's it going to be ready to drink because i am bit thirsty