Member Info for Mommur

that Diverse Investment Trust (DIVI) has picked up 7.25% of I3e. Another indirect holding for me but like others I still haven't had my primary bid purchase showing on my HL account

Having emptied my bottom drawer of PMG a while back, I couldn't resist sub 30p acquiring a moderate holding. I tend to be a LTH rather than a trader but this company just keeps paying the wages and trundles along. FPM still smarts as I was a LTH for over 10 years and their was a symbiotic relationship with PMG. I wonder if LBE are considering re entering the fray with Perth again - who knows. Good to see you still here Mary - I'm still in love with SQZ, whilst the SP has marked time, time will tell if she has further to run!!

Q2/2020 is fast slipping by, with awards due - lets hope we pick up some attractive licences with known discoveries close to our infrastructure or at least drill ready prospects.

Lets keep our powder dry chasps, as mentioned we are on a 5-6 year timeline where we need further reserves and we have a couple of Capex projects looming. Share buybacks in my opinion just tell the market we are not serious re an asset purchase - or cast doubt. We are hopefully active in the Licencing round and their is certainly deals out there - but at the right price for our management.

Gents if you are interested you can go on the OGA website that will give you production rates over a time period. Upgrade in 2015 has extended life of field into 30's but is a prime offload for BP methinks to cease Operatorship in North Sea, leaving only W of S.
May 2020 production
Machar 7.83mb/d and 20m scf/d
Madoes 6.26mb/d and 3.24 scf/d
Marnock 0.32mb/d and 12.87 scf/d
Mirren 0.09mb/d and 0.32 scf/d
Monan 1.35mb/d and 4.24 scf/d
Mungo 7.12mb/d and 20.0 scf/d

Bit of a poisoned chalice with PMO at present, the purchase of the latest BP assets although cash accretive for them is looking hard to digest. Perhaps we have offered them an olive branch with a reasonable price for 60% of Andrew and operatorship to help them out of what looks like a mess. Who knows.

Be interesting to see who purchases an asset first NICO, SQZ or LBE. Excitement I can do without having been drawn into the i3e debacle, and Hurricane mess with more now invested than intended. This management always had a penchant for the Perth Assets with Parkmead having a substantial holding in FPM. Mayhaps Tom Cross would pass the parcel back and concentrate on wind - who knows. Been with Serica a similar period to FP, around 2009 and accumulated over the years - can you fall in love with a share????????

Check in every now and then to see how this management team get on with there new venture. Surprised at the recovery from the 80's with no real news other than incentives being organised in addition to a healthy salary - sincerely hope for all you peops this doesn't only reflect an increased MC rather than the share price - core holding of FPM for 12 years myself and I wouldn't wish that journey on yourselves. A lot of patience needed methinks.

Nice to hear on the newswire that Arran is progressing with Subsea7 commencing works this month. Columbus Umbilical to Arran is part of this works. All quiet on the M&A front so for the next 6 months or so we will quietly accrue cash.

Like yourself, I'm an existing shareholder sitting on a substantial loss. Its moot whether my potential purchase of a further 25% of my holding from Primarybid is wise or whether more in the aftermarket is more appropriate. Can't say I have enjoyed this ride even when my initial purchase went from 30 to 50 odd, as its been a long spiral down.

Only cherry operator wise, would be ETAP. Perhaps we are angling for ownership as the BKR deal clears - who knows.
Back in Aberdeen after 3 weeks in the Lake District to go into lockdown again - ne'er mind working from home and suns out.
Still haven't decided what to do with my dividend - keeping powder dry.
GLA.

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Been a journey, Conan drill in the Irish Sea got me all excited, thought when we had $100 million in the bank after selling FE assets we were on the road - what a tortoise!!!!

Have a substantial holding here for a lot of years. Always been happy with management and direction but after Fevertree and Blue Prism not being offloaded at top of market and now offloading during height of covid debacle, perhaps vision is somewhat blurred. With 26% in cash, will watch with interest on how and when its placed. Perhaps like Herald, they could do worse than holding North Atlantic Smaller Companies.

Bought a fair tranche of these at 18p, what seems not so long ago, keeping 25% whilst offloading the rest at 160p. Interesting groundhog moment at present, with the fundamentals still in place, albeit we have heavy/sour oil in place in the Tertiary and the Cretaceous all to play for. Looks like my fairly substantial dividend coming shortly from SQZ may just have found a home.
GLA, always good to read your posts here.

AGM prognosed a CoP (Cessation of Production) put out to 2028 for Bruce, without further supply. Timeframe wise we will likely see Keith and Erskine disappear prior to that. Columbus next year will support our production levels, and certainly N Eigg if successful would be an outstanding success.
R3 should bring additional reserves providing we can pooh the debris and clear any hydrate - its not a given but am in the half full camp.
So, although we are making money with gas prices low, I wonder if we have the ability to choke back our production and keep gas in the ground until better times? Or whether our BKR deal / gas market share prohibits such shenanigans. We have no debt to service ?

Zennor Petroleum - from memory I believe it was on the table
BP ETAP - If BP are offloading operatorship in the north sea - its the last cherry
Looking forward to my £25k dividend - can I get covid tax relief!!!!!!

Have always ruminated on BP walking away from Namibia, regardless of the elephant being less than "250mb" and risk not reaching their threshold. Left Serica high and dry and I felt that Erskine award was guilt on Bp's part - fine chance in business mind!! With Serica not relinquishing earlier this year and discussing further extension to licence, perhaps Serica/Bp are playing the long game. Interest is back again re drilling in Namibia, so intelligence will be forthcoming on exactly what play will produce results and Bp will re enter the fray - now why do they still hold 5% of Serica??

Yep, Good conversation and aware that BP were finally getting round to solving the problem, pre SQZ. It may well have been that production from R1 & R2, pushed R3 solution to the right, or technical expertise in solving the problem advanced.
Fully agree that BP had run the slide rule over R3 and also Serica , and willing to spend the cash in solving the problem.
The scary time comes when we start drilling Eigg - we have not been very good with the drill bit over the last ten years!

If this was a simple re-entry to fix a mechanical breakdown, DHSV for example, I would surmise that BP would have gone ahead a long time ago. Taking into account the duration intimated for the works, its a tad more complicated. I can only guess but a hydrate plug downhole in this area would be a headache. It certainly doesn't appear to be a tree problem.
I'm sure its been carefully thought out and an achievable result.

Playing and keeping their hand in possibly. Similar to Tom Cross at PMG. Lets be fair to them, running FPM as a more a less private company, large salaries and bonuses, not withstanding options, means they are not short of a bob or two.

Good track record - perhaps as the MC capital of Faroes went up fourfold but very disappointing for shareholders - hence the low buyout by DNO as everyone bailed. I had a not inconsiderable 100,000 shares bought over ten years, so be aware you might find significant dilution. Not for me, but I admire early birds so GLA and be prepared for decades!!