Member Info for MTSparky

If the fundamentals/valuations are saying £1 - £1.50 /sh is still undervalued, the sp is just going to keep rising surely.

There is just something wrong with Namibia. I'm sure over the next 20 years someone will hit oil or gas but it literally could take 20 years. Expensive region to explore too. It's not called the "Skeleton Coast" for nothing !

....must be a holding RNS soon. Someone is gobbling up these shares.

I am hoping for at least £1 /sh in 6 months time. SQZ bank balance should be filling up nicely by then...;o))

...with SQZ over next 5 years is so clear to see it make it a very compelling investment. NT for online trades again right now. Beats 0.25% in an ISA !...;o)))

Looks like someone is snapping up shares. Maybe once this phase is over we can break 65p and shoot up to 80p...;o)) Increase holding RNS would give some further comfort.

Well its NT only for online trades. Something is brewing maybe?

Well planning for the Rowallan prospect advanced. Site survey and long-lead items approved by partners for 2017 with drilling planned for 2018. Serica fully carried on costs to completion of first well. Serica estimates potential net P50 resources at 20 mmboe.

The fundamentals are clear, this sp is only going one way. 105p appears to be a modest target for now.

thanks agkgig 64p now so I best get in quick !...;o))

Looks like lots of buying pressure is the sp about to pop or what? What's the next resistance, anyone ?

Hope so RB. Most likely from another major offloading non-core assets. Maybe another Tullow asset. I still think HNL sp will go above �1 on re-listing as it is.

Maybe the cash held by Tullow 101 will belong to HNL and I think this may be included in the �9,752,429 as this includes a working capital adjustment of �5m, an increase from the enterprise value of �4,752,675. I am not sure yet what the �20m contingent payment is for...more digging needed! Maybe the �9,752,429 is the value of Tullow 101 plus cash held and the �20m relates to the actual gas production assets. Maybe not paying this sum up front is a safeguard against production suddenly dropping and HNL buying a dud. The additional �20m is subject to future production performance and maintenance costs of the plant.

"The purchase price payable at Completion is based on an enterprise value of �4,752,675 subject to working capital adjustment and adjustment for intra-group indebtedness, the net effect of which is that the Seller shall receive an estimated amount of �9,752,429 on Completion." Contingent payments of up to a maximum of �20,000,000 may also be payable between 1 January 2019 and 1 January 2021. "Following Completion, Tullow 101's name will be changed to assimilate it within the Group." Tullow 101 is a subsidiary of Tullow. Tullow 101 for accounting purposes is a separate company. Its just owned by Tullow. Its now owned by HNL and will change its name. For employees of Tullow 101 I guess not a lot changes. New headed paper templates maybe.

"The purchase price payable at Completion is based on an enterprise value of �4,752,675 subject to working capital adjustment and adjustment for intra-group indebtedness, the net effect of which is that the Seller shall receive an estimated amount of �9,752,429 on Completion." Contingent payments of up to a maximum of �20,000,000 may also be payable between 1 January 2019 and 1 January 2021. "Following Completion, Tullow 101's name will be changed to assimilate it within the Group." Tullow 101 is a subsidiary of Tullow. Tullow 101 for accounting purposes is a separate company. Its just owned by Tullow. Its now owned by HNL and will change its name. For employees of Tullow 101 I guess not a lot changes. New headed paper templates maybe.

"Pursuant to the Acquisition Agreement, HALO B.V. has agreed to acquire all the issued shares in the capital of Tullow 101 with effect from 00.00.01 on 1 January 2017" I assumed that since HNL have purchased 100% of Tullow 101 effective from the date above that means HNL take on all their income, liabilities and profits from that date. Tullow 101 will carry on as normal for the time being but they are now owned by HNL? They will probably operate as normal but will maybe have a name change at some point. We need a lawyer !...;o)))

I'm not sure on the accounting procedure but if they just hand over the profits that would still be a sizable sum for a company currently valued at �2.5m..;o)) What's the rule of thumb for company valuations? is it 7x earnings (ebitda)

HNL are the owners of all oil produced since 1st Jan 2017 as per RNS detail below. "Pursuant to the Acquisition Agreement, HALO B.V. has agreed to acquire all the issued shares in the capital of Tullow 101 with effect from 00.00.01 on 1 January 2017 conditionally upon passing of the Resolution at the General Meeting and re-admission of the Company's Ordinary Shares to trading on AIM." "Tullow Oil Group reported total revenues of $31.5 million from its Dutch assets in 2016." By the time re-admission happens it may be more than �25m.

...is going to be explosive. We will have circa �25m in the bank plus regular income from production. HNL should move quickly to exploration on E blocks to keep the momentum going. Another asset before re-listing would be amazing too ! I have moved a wedge of cash into my ISA account to fill up on re-list..;o))) ...can't wait.

RB it just gets better and better. If you read the presentation on the HNL web site Cochran explains what he's going to do. I think its very similar to fraccing in that they will drill horizontally through the reservoirs. I am no expert though. I get the impression the E blocks are the near term target for exploration and increased production. They are already proven with the Vincent discovery in E-11 tested at 10,700 boepd !! Engie are the operator of the E blocks too. Good point about gas price increase RB. Glad your busy, you can retire soon enough though. That's a reward for putting your money where your mouth is ;o))