Member Info for NewKOTB

n/m ... :-)

That's two NS players in past few days that have decided to play the gov at their own game, massive pre-tax and very little in the pot post due to deferred taxes .... expect no different with our results, in fact ours will be 'specially' prepared to show a loss with TW acquisition costs .... two fingers to the gov and their 'Windfall tax'

What opening was that for us, ffs feels like we are being shorted over past few days !!

aimo & dyor

"Nobody mentions Kistos' share price any more for some reason.."

Probably as the 246p/s CASH offer (higher than current SP btw) plus 0.2932 new Kistos shares would of meant we were in the money instead of tied to this TW deal with Mercuria.

aimo & dyor

"Qcm confirmed on twitter..." lol

Norma,

"Surely the bottom line is that if you don’t trust in management or believe in what they’re trying to achieve, then It’s appropriate to sell up.."

Think a lot have done just that ..... it's not so much 'trust' in old mgt more trust in Mercuria as they will via their Tailwind operatives be pulling all the strings here. Mitch will be nothing but a 'YES Sir, how high Sir' and ACW will more likely retire (take backseat) from SQZ in near future on 'FULL BENEFITS'.

I'm baffled as to why you don't see Mercuira + founders holding 28.9% and how this was engineered of the new company, a RED FLAG event or at very least yellow warning.

aimo & dyor

Well, support gone, 12 month low double bottom hit, rising channel busted and PI's SP confidence at recent ATL, our close today all that more important.

CoH should be close to £520m (£480m @ 31/12/2022) for current Mcap of £645m, SP appears to be adjusting for new shares to hit and reflection of deal.

One plus point, we have 1750boepd (100,000 therm p/d) coming off our hedging at end of month but at the rate of NBP decline we could be worse off (lol) !!!

Dick, agree ..... such a shame or should I say sham !

aimo & dyor

"I believe the report is positively significant and accurate as EY is already on board..."

Yep, EY would have picked up that little adjustment announced today..... ;-)

n/m

Massive spread by MM to hit stops.

Yep, meet up only when this deal proves its worth (something you are keen to support Norma) with new ATH. For me, it could be on the never, never as August's 452p appears a billion miles away atm, although we are still in a rising channel targeting >500p but only just !!!.
Longer the completion the less net debt will be announced so I don't expect RNS until post budget, 17th chart looking likely.

aimo & dyor

Looking for "10%+ TSR per annum" based on 48p dividend, doesn't bode well for SP appreciation from today's SP !

Ivy Asia ?

aimo & dyor

Norma,

Got to say, you have some very interesting posting traits ... ;-)

I know you are not prone to speculate, far from it but just this once humour me, please ! Where do you see our SP settling day 1 following completion and the direction our company will take ie benefit of all shareholders with significant appreciation of SP or to position SQZ pro Mercuria !

PS Would be good to meet up via Plane, Train or Automobile should this deal prove crowning culmination of ACW work with SQZ and make our BKR deal look, at best, very amateurish. Just hope all us little people don't get $h1t on during his coronation. Arise King Antony.

aimo & dyor

Norma,

Thanks for the reply, but I have to disagree as we need to keep exploring all avenues, one day there may well be ghosts found ... until then I shall keep posting my thoughts, some more random than others. Been on the receiving end of several AIM companies before, don't want SQZ to be yet another. Information is power. atb

feynzz, oh dearie me, nonsense, lol, not got much shut-eye last night did you! Mitch actually stated, "he believes that the proposed date for the cessation of production on Ninian is unlikely to have a significant impact on Orlando production.", which is very different to impact on valuation. Of course it will have impact on eventual production / valuation when cessation occurs as there will still be hydrocarbons left behind, just the matter of how many 2P's imo. atb

As for state backed investment fund CNIC being old new, it was only made public just over a week ago and has never been mention on this BB to-date. Think it's interesting to keep up with the happenings of our soon to be largest / controlling shareholder, by far. What connection could there be with CNOOC who are looking to off-load their assets atm too, for which the sale of recently stalled due to valuation gap !

https://youtu.be/Hq2vAyzA2T8?t=6

AIMO & DYOR

NQM,

Thanks for sharing.

"CNR announcement to accelerate the abandonment of Ninian was not entirely unexpected..."

So why didn't Mitch include that pertinent information within the circular, think we all know the reasons for that. He clearly known this information as he stated, "proposed date for the cessation of production on Ninian", what proposed date ?

Norma, glad you had a chuckle or two, yes my comment was a tad OTT, but the point remains, why was this not made clear to shareholders as a known risk factor ! Just another big "?" over this deal afaic.

feynzz, think you may need to do some research on well decline and depletion rates, they are far from linear. Last known estimate (May 2022) for Orlando to reaches its economic limit is ~2038, although with recent workover this would of probably been significantly reduced. So, yes our accounts will need to take a hit at some point. As for Orlando "will be done in a year or so", really. Oh btw, see you only took an interest in SQZ on the announcement date (20/12) and have posted nothing but supportive posts since, just an observation. atb

Other news you could use, China's CNIC Corp recently acquired a 5% ($4.4bn) stake in Mercuria.

aimo & dyor

CNR would have been in discussions with all interested parties way before this announcement was made public. So either TW withheld critical information pertaining to the deal from SQZ or SQZ produced the official circular knowing the impact / risk of CNR's potential decision but failed to recognise it or make it known to shareholders, which is it !

Either way, one could say it verges on fraud ! ... and you trust these guys Mitch, sorry but your position soon after completion will be toast.

PULL THE DEAL MITCH.... talk with AA (Kistos) and find a way forward.

aimo & dyor

So, circular or should I say, sales guff, stated !!

"Total Tailwind oil and gas resources at end 2022 expected to be at least in line with 1 January 2022 including identified projects having the potential over time to add over 30 million boe to 2P reserves at relatively low capital cost utilising existing infrastructure..."

Not anymore given CNR announcement, just lost 16 mmboe with Mansell.

aimo & dyor

Norma, your thoughts on these latest revelation for this fiasco of a deal ! Still think it offers good value for SH's.

So, it appears SQZ will need to write-off over 50% of the net 2C resources presented by TW at the start of the deal with Mansell being dead in the water, quite literally, 2C's we have paid for !!

Anyone know what net 2P's are attributable to Orlando that we also need to write-off at some point ? Not as if we should of been presented with these figures with-in the circular as shareholders .... (lol), as if !!

https://www.serica-energy.com/downloads/reports/Shareholder%20Circular%20-%209%20January%202023.pdf

aimo & dyor

NQM,

Bet that was not part of SQZ's DD, guess Mansell licence (P.2448) with 16 mmboe is also a 'no go' now, what other gems are waiting to be found .... this deal is quickly becoming a true 'lemon' of a deal.

Don't tell me TW didn't know of this .... pull the deal Mitch ffs !

https://www.tailwind.co.uk/mansell-operation

aimo & dyor