Member Info for Maverick7

that's the post - dividend will be cut again

the investing world has changed since buffet made his millions, he has got a lot of trades wrong in recent times. Still the quote is still relevant today

the only way they are going to get some drills done is by farming out or selling the Orinduik assets. The Uganda proceeds will just go down into part paying some debt and increasing production in Ghana. I believe they also have some bond payments coming up in the next 18 months or so, so this cash will be useful.
Are the Uganda government going to tax them on the $575m?

Maybe more of us need to contact them and highlight these “normal” trades

“duff uninspiring company” - lol, you and some of us bought right down at pre 10p levels, this has been anything but uninspiring!! The whole sector is down - just look at BP & RDSB. BP has lost more than 100% and there’s further to fall - its not making a profit at $40 oil. Is SQZ down 100% - not yet!!
We have Rhum3, BKR and Colombus which will increase production by more than 50% in the next 15 months, hopefully they can pay a more regular dividend once production is up. Apart from Rhum3 there is no near term news and Rhum3 is min 3 months away until tangible news hence lack of interest and low volume. Plus we have BREXIT around the corner and US elections and people not prepared to take on risk. Just hope we don’t get taken out on the cheap at the £1-£1.20 levels

Sorry forgot link

https://oilnow.gy/featured/new-exploration-wells-multiple-appraisal-drilling-for-guyana-offshore-rystad-energy/

This link posted on the WTE board says Orinduik drilling by TLW IN 2022!! No official news though

fair comment NewKOTB
Hope you are right!!

Its possible that SQZ are going to do an equity raise (note possible). They may raise at around 100p if they are looking for a sizeable acquisition whilst at the same time maintaining a sizeable cash position.
Time will tell

and what if TRUMP wins the election, will BP & RDSB go further down, plenty of time to get in. Cant see how both these goliaths are profitable at the current price of oil. Dividend cuts may have to be looked at again.
Best to split the companies into oil/gas and non oil i.e. spin the non oil off

Interesting article saying Chrysoar looking for further acquisitions

https://www.energyvoice.com/oilandgas/north-sea/270580/premier-oil-chrysaor-acquisition-spree-westwood/?fbclid=IwAR3hIY8yqoJ69TDG9abZY_dydIuVMQcVfSGTSa5klCSjFa1NDFDTbUu92OI

DBNO is going to find another board for his stupid WTI price predictions!

Where are all these PMO traders now going to go - TLW, ENQ? BP share price is behaving like an AIM share, lol

the shares would rise 25-50%

the danger here is that if we make an acquisition, the MM will just propel us to the 120-140p range, unless of of course its another "transformational" deal.

And the market & investors clearly agree with looney, lol, total shareholder destruction here

Even if oil was at $100 per barrel no one would invest here, Looney has scared off investors. He needs to leave and the company needs to change strategy

Why don't they just split the company as two listed entities, one focusing on oil and gas and the other pie in the sky loss making green energy stuff

Private equity always get in early before the next oil bull run, happened with Ithaca & Faroe

no, we are still in the waiting lounge, pottering about, buying last few drinks etc. Another 20% increase then maybe

If £1.20 looks attractive to major holders, why didn’t they sell at £1.20 a few weeks ago, load of b@ll@cks statement. Rhum3 and Colombus to add reserves and then BKR 100%, you’re having a laugh at £1.20.
Add in possible acquisition, £100m in cash, and forward gas prices looking attractive - £1.20 would never be accepted

The only people buying in are those that are expecting an acquisition in the next month or so. Lots of the big players are advertising “old” North Sea assets for sale.
Question is who holds the decommissioning liability and will they only be snapped up by private equity.
If it wasn’t for the possibility of an acquisition by SQZ, I would currently be out of the market, too many negative stories