Member Info for Mommur

I was leaving TC with 10% !!

Couldn't ask for anything better other than Operatorship going to SQZ!! Recently sold my holding here at the princely sum of 52p , which held thinking something may occur between PMG/SQZ - was a long wait. Now what would Mr Cross like in exchange for 20% of Skerryvore and operatorship.
Looks painful here, but I wish you all a successful investment.

Well considered Newk. BP now considering NS investment - its a pity Mr Mooney didn't come right out in his earlier interview and state the windfall tax wouldn't penalise Bp. These cabinet idiots have strangled the golden goose and cannae see it.
So going forward, SQZ exec now need to earn their coin. Perhaps BP have some drill ready prospects we can take off their hands if they want to divest - or cast their eyes over E & P with costs to offset the tax.
Like a number of you all yesterday I re invested some of my war chest at the 270p range as I considered this an overreaction - time will tell and I will add on any further weakness - profitable with no debt and a cash mountain. GLA

to say the least. Added 20,000 at 270p.
Now's the time for management to earn those nil paid options

look at the message our Executive team portrays with their Long Term Incentive Plan Awards:
Lets just look at Mitch Fleggs:
2022 - 147,615 nil paid options vesting over a 3 yr period (100% uplift) from a price on 17th May of 338p
2021 - 587,349 nil paid options vesting over a 3 year period (100% uplift) from a price on 18th May of 118p
2020 - 386,100 nil paid options - 107p on 18th May 2020
2019- 411,067 nil paid options - 125p on 5th March 2019
2018 - 225,000 nil paid options - deferred from 2017 (125p) vesting on 31/1/19
2017 - 1,500,000 nil paid options - 67p on 30th Nov

I wouldn't mind if this was a Private Company, but its a PLC owned by the shareholders, who unfortunately have to contend with Institutional Investors voting through these awards - perhaps if Mr Flegg reads this ne may consider his salary is a satisfactory renumeration - but sadly I very much doubt it.
Perhaps Rishi Sunak is looking at these fat cat awards - but again I very much doubt it

Perhaps its time that Mr Flegg and Mr Sadler dipped into their own pockets and bought some shares on the market. Having been a shareholder since the Conan Drill in 2006 I have accumulated along the way through peaks and troughs with my own money. Its called having skin in the game and backing your company to succeed.
Greed - something for nothing - reward for their employee's working hard - oh they are employee's of a public limited company - now getting distasteful - my vote for what its worth is against.

Know how you feel, RENX,BMK, TPL - duh!! Nothing sold but bought £10k today at 555p, its been relentless but time to consider IT rather than individual shares. As mentioned value will out eventually. GLA

Painful period, but added again today at 36.24.

Added yesterday after review of my holding. Seems a long time ago (Sept 2019) I sold half at the bonny price of 160p, having bought for 19p. The planets now seem in alignment, so doubled up again.
I just wish Serica hadn't relinquished their licences in Namibia, but cannae complain. GLA and I will watch with interest

Good to see someone else despairs of the Director re-numeration awards that are endemic in the Oil & Gas Industry Newk.
What with impressive salaries, executive pensions and option awards, I wonder what the "team" beneath the capstone on the pyramid feel about all the hard work they put in to ensure success.
I have been personally rewarded by Serica by investing my own hard earned money, perhaps if Directors did the same rather than creaming, there would be a better s.p. Thats my moan over!!

Anyone like to enlighten me on whether BP actually received 370p/s / £49 million for there 5% of Serica?? Did Jefferies place them elsewhere and is the rump of them still being sold on the market by various MM's?? No RNS of major holdings from our principle II's or any new II.

Seems sensible to re invest my forthcoming dividend now and a tad more at 305p. Thats a fair lump from me to support the sp!!

Reading between the lines, we do seem to have supported the Rhum area with the recent P2501 and P2506 licences, on of which P2501 is targeting the N & S Eigg prospects. P2506 makes interesting reading on the Total/Maesk relinquishment report P1755 available on the NSTA site.
Namely further works were required to assess Ardincaple,Sween and Skibo possible HP/HT targets.
SQZ obviously haven't took these licences to do nothing, so we may well have further irons in the fire going forward with new seismic interrogation. The only pain is the cost of any HP/HT drill, but unless we purchase known assets, drilling is the only way to increase reserves.
All in all, steady away imov.

for letting off steam.
Having been in the Offshore Oil Industry for all my working career, I have been involved with Erskine, Bruce, Keith, Rhum on many occasions when BP assets and Serica Assets, as well as other clients assets.
Its seems no time at all from when BP walked away from the Namibia Licences after the seismic results and i always thought that ACW contacts with BP led to the Erskine award - as a sorry guys. A huge buy moment.
Similarly when we languished in the 100-120p range - a huge buy moment prior to a succession of positives

But thats the past and I guess where do we go from here is whats on most investors minds.
Newk mentioned Mr & Mrs Hardy, we would be foolish to think they will not sell down some or all of the holding in the near future. N Eigg may or may not come in. Gas may well drop to the 10op p/therm. All have a bearing on the SP.
On the positive side, a number of investment trusts hold SQZ for the dividend, so may well increase the holdings going forward and I don't see any storms on the horizon.
I can't see any purchase of assets any time soon, but I could be wrong as SQZ may well be working ion the background over months - Andrew comes to mind. You just never know and thats the excitement.

Only my thoughts so DYOR and like I said - hold your winners and back sound management. GLA as SQZ is a better play than other E & P.

PS: Newk, sincerely hope you have been rewarded dividend wise in a six figure sum. Myself I have been guilty of selling from 300p upwards so haven't held all of my shares - now why has Mr & Mrs Hardy not sold any?? Could they be a proxy?? Is that legal??

Hardly self praise - been here far longer than yourself Upon, and most LTH are well aware of my substantial holding.
Having put up with your drivel on both boards, disparaging management at every opportunity, as if you are the font of all knowledge I try to give an alternative viewpoint - hold your winners and back management - they are in the business of developing a company. Unlike most E & P they reward investors - even moaners like yourself.
Thought my post would draw out this type of drivel and I am not prone to provoking posters - but does it matter if I put 5k or 50k dividend - I could be fabricating - who would know.
Muckle - you should know better than to follow - oh I do have a 7 year old Merc GLA and a Zapcat thats been in a garage for 15 years unused, like to think a modicum of sense and I have no need to measure stature with yourself boy.

After yesterday, its back to normal with just 5 posts - sheer bliss!
I watched with interest yesterday and as someone quite rightly mentioned, a lot of limit orders were the order of the day, with us down 10-11%. Usual recovery by the end of the day, albeit the hot money disappeared.
We bottomed out around where I sold my last tranche so no trades from myself.
9p dividend - thank you. As my old age pension kicks in next month a divi of £48,000.00 helps with the gas bill somewhat.
God I love this tortoise. My other tortoise, i3e is following the same route, so no complaints and pays a handsome divi each month. Roll on N Eigg and lets be fair to management, now is not the time to be paying over the top for producing assets - take the hit on inflation and buy when oil/gas drops later this year/early next year - then its a buyers market.
Providing a low yield nuke is not deployed - then all bets are off. GLA>

He is not far off - if you bought at the 50p mark its a good hedge. Trust all LTH took the opportunity to average down if they are staying the course.
Thats E & P for you.

Don't think I am a scaremonger SoB, just that I have done my time. I did think at one time Tom Cross would be in the running to head up Serica as the Exec Chairman ACW is reaching retirement age -through merger or buy out of PMG. it didn't happen and my own thoughts are similar to Faroes Petroleum on the GPA that they walked away from.
I do indeed see the metamorphosis of PMG into a different company, renewables and gas and its MC will increase in time.
I will watch with interest and may well repurchase, you never know. I've even bought LBE at 50p , even though I have a tad of angst with the ex FPM management that increased MC multiple times without any real increase in SP. GLA.

I admire your positivity and wish you well with Parkmead. I personally found it a value trap, having bought in 2007 and have recently sold all my holding for a small profit, having averaged down each time we bounced in the 30's.
There are a lot of folks been here a lot longer than that waiting for planet alignment.
As I have a substantial holding in Serica it would be nice to think that Skerryvore has 157m barrels in place - but I guess we won't find out until Mr Cross finally gets round to finacing a drill.
Like you quite rightly point out the company is remaking itself, but I personally don't have another decade to give.
Now where's my ticket for this years Marcliffe Charity bash. GL>

All good points SB. I'm conscious of trying to catch a falling blade, but all in all is bio tech bottomed out? I am a bit of a contrarian investor in individual shares and a LTH and RENX appeals as an innovative company. Will await some upward momentum on news before adding further. NAS on the other hand is a banker for me since 2002 in my Investment Trust Portfolio and has been impressive. Enjoy your posts by the way.