Member Info for NewKOTB

GL,

Not sure about 'cheap', but 480-510p/s (cash) would be fairly good imo atm .... circa £1.35bn

Success at N Eigg as none producing field moving from prospective to contingent would only add ~£60m to our valuation in the immediate future imo. Value is in swiftly proving these up to become reserves and subsequent production which requires both investment and time to develop. On would hope that regulatory requirement via FDP etc would be passed expeditiously and without the need for partner financing, FID would not be an issue either. NE will however add significant appeal to anyone wanting to acquire us, so may well be deciding factor as to our future path and value.

aimo & dyor

"If Darktrace is valued the same way as Nasdaq, then it is worth 1000p now..."

So begs the question, why no takeover by PE ..... Then, once deal has settled down and NASDAQ is flavour of the month once more ... list in the US. New owners would be set to make upward of >$3bn at least I would say, on a deal that would also make a return whilst they wait.

aimo & dyor

Lending,

Remember over last year or so several secondary placings took place ( transfer of shares off market at agreed price ) at prices way above where we are today .... Did our buyers see value or in for a quick trade ?

23m @ 620p
25m @ 750p
11m @ 580p
6m @ 410p

aimo & dyor

Multiple small AT's trades with same timestamp are used for one reason imo.

" isn't saddled with crippling debt..." exactly.

Reason for rapid fall numerous AT's worth less than £1k fired in time and time again....

"The application period will run until 14:00 hrs GMT on Thursday 12th January 2023, during which time applicants will be able to assess the opportunities and make applications from early October. It is expected that the first licences will be awarded from the second quarter of 2023."

So, so easy to move this share on low volume, no wonder SF et al love to target DT.

Well another one we missed out on with recent sale of fully appraised commercially attractive gas discovery of 28mmboe contingent resources from Corallian to Shell for a tiny $36.7m ....

https://corallian.co.uk/victory

Really, really needs to breakout tomorrow ...

Given, atm we can recover 91.25% of cost .... would 1000boepd not be a nice Bruce Bonus. Not investigated to deeply, but I would guess any field development would probably go similar to Bruce ... multi-well field that combined, produces significant volume.

aimo & dyor

"The 9/10b-1 well discovered a 57m gas condensate column in the Middle Jurassic J36 interval. A DST flowed poorly at 2.725 mmscfgd gas and 516 bpd of 46º API condensate."

So this single Burdock well produced ~1000boepd and Badderlocks prospect was never drilled either !!

BP reprocessed seismic data at the time too, sounds like Serica could add value here.... lets see !

aimo & dyor

Hence why brakes were off this morning ... imo

Should of added, even though BP’s estimated recoverable resources were 26–32–39 mmboe which for them was uneconomic at the time so subsequently they didn't further evaluate the licence, for us it would add ~50% to our reserves. Plus, being only 14km from Bruce field would, without a doubt extend CoP for Bruce platform for sure.

Mommur,

As you say, given SQZ enthusiasm for Project 2035 as stated by Mitch recently, I would have thought wheels are in motion if not 'well' on the way to completion in gaining Licence P2347 imo.

SP,

As requested ;

https://www.marex.com/services/data-advisory/market-data/market-data-indices/

License P2347 covers blocks 9/9f, 9/10a, 9/14d & 9/15c none of which are listed as assigned on the NTSA site.

Just select quadrant 009 on right to show all current licences.

aimo & dyor

https://itportal.nstauthority.co.uk/information/licence_reports/offshorebyblock.html

AIMO & DYOR

Mommur,

Thanks .... appears BP drilled an appraisal well ..."The appraisal well 9/10b-3 was drilled to test the southern extent of the structure and was entirely wet. BP’s estimated recoverable resources are 26–32–39 mmboe which is currently uneconomic and was not further evaluated."

Licence was relinquished 30/09/2021 and is only 13 km east of Bruce Field and tbh I would have thought SQZ would have applied for out of rounds award similar to obtaining P2501 North and South Eigg in 2019.

aimo & dyor

Last time we hit that DA was mid July 2021 .......

Market is totally broken imo.... massive downward swing for no viable logical reason afaic . Late Aug, only six weeks ago, we were sat at ~640p/therm, think we need a new phrase to replace 'exceptionally volatile'.

War, what war !

What the 'ell is happening with NBP DA ..... tell me the commod traders aren't driving this otherwise makes ZERO sense to me atm. November futures up 15% to 321p/therm today, yet tomorrows NBP DA is at an unbelievable 82p/therm.... DA now almost back to long-term normal .... I guess that means WFT will be ditched now.

aimo & dyor

NBP for October now averaging 164p/therm, little disappointing but still ~300% that of NBP long term average. Hard to see how, given current macro environment, NBP is sat so low, hopefully this will change as Q4 2021 before any Putin war, NBP average was 226p/therm.

Nov Futures up today ~10% (305p/therm) atm ..Brent up too >$91 barrel

aimo & dyor