Member Info for NewKOTB

LW,

"Takeover bid might have taken another step forward hey?.." In short, Massive Yes.

aimo & dyor

Flexmw,

"and MAY continue..." I would guess on if they SQZ there's a gain to be made !!

aimo & dyor

Nothing like a bit of spamming to pass the time on a BH Monday ....

Serica Energy (AIM: SQZ) has awarded Subsea7 a “sizeable” contract to supply a pipeline for the company’s Belinda field development south-east of the Triton FPSO.

The contract, which Subsea 7 said is between $50m and $150m, scope includes project management, engineering, procurement, construction and installation (EPCI) of a five kilometre eight-inch production pipeline with a three-inch piggy-backed gas lift line and an electro-hydraulic controls (EHC) umbilical.

Subsea7’s scope also includes associated subsea structures and tie-ins to the Triton Floating Production Storage & Offloading (FPSO) vessel operated by Dana Petroleum, via an existing production manifold near the Triton riser base and for controls at the Evelyn valve skid.

Project management and engineering work will commence immediately in Aberdeen. The offshore activities are scheduled for the third quarter of 2025.

Serica Energy took a final investment decision on the project last month, though it warned that UK fiscal policy had delayed the move.

It is estimated to hold P50 reserves of about four million barrels of oil and five billion cubic feet of gas, Belinda is set to be developed as a tie-back to the Triton FPSO.

As the 100% owner, making a final investment decision (FID) would have been easy to justify under normal conditions. That being said, the windfall tax, or energy profits levy, has created instability in the UK market, the firm outlined.

https://www.energyvoice.com/oilandgas/north-sea/exploration-production/554215/subsea7-serica-energy-belinda-pipeline/?

Clued, lol, as long as it's not trapped wind, as it always finds an exit route, just like shorter's !!!

So we had a few minutes mayhem between 15:29:25 and 15:32:11 when we fell off a cliff without a parachute and returned with a 007 jet pack attached. Around ~350 trades out of ~1900 for the day went through, circa 20%, vast majority 'A' with book value circa £1.6m out of daily ~£16m, circa 10%. How many shorter's took the opportunity and closed out then along with others, opened longs I wonder. Strange trading action for sure but then we get to expect it with DARK !

Good BH weekend all ....

aimo & dyor

Probably pack attack by shorter's to get themselves out of a sticky situation, esp if they have wind of another player joining the party.

aimo & dyor

So what would 15% be worth at this stage ?

We now have a yardstick.

aimo & dyor

DKOKS,

For some reason, given today's ability to transfer funds at the speed of light, literally, some trading platforms, esp ones hosted by banks tend to take +3 days for funds to clear (wtf). Guess they want to benefit from the interest rather than you and I. Check your small print and buried somewhere will be your answer.

atb

aimo & dyor

They also stated to :

"Close the loopholes in the windfall tax on oil and gas companies.."

Firstly there is no official 'windfall tax' just 'energy profit levy' so not sure if that statement will hold true !!

No details on what these 'loopholes' are or how they will be applied !

aimo & dyor

Labour Manifesto :

"A proper windfall tax on oil and gas companies. It starts by tackling the cost-of-living crisis. That’s why we have fought for a proper windfall tax on the excess profits of oil and gas companies, so we can support families with the cost of living.."

So what exactly is classed as " excess profits" !!!! For me they will leave the EPL as is as the unions will know full well any further degrading of NS earning will mean companies will shut-up shop and move overseas, causing a catastrophic collapse of NS operators and their supply chain too.

Note no mention of additional increase of tax or removal of allowances either just a "proper windfall tax" which by the very nature should no longer apply as there is NO WINDFALL !!!

Also past tense statement "why we have fought" means job is done by forcing Conservative to introduce WFT, otherwise should state 'why we will fight' ....

https://labourlist.org/2024/04/what-labour-manifesto-2024-election-policies-party/

aimo & dyor

Added to which, given the exchange rate has lowered our offer price by circa 12p/s, TB could offer another 15c and return it to their original offer of 620p at time of announcement. On the plus side anyone else who want to use $US$ will also find it favourable to make an offer.

Vote 'NO' to the deal and force TB to up their offer.

aimo & dyor

No hanging around with this, be all over before we know it.

They want to secure DARK and take it private then list in US for mega valuation, we as SH's should vote NO as I'm sure TB et al have left wriggle room and will up their offer as needed, especially as this current offer is way off the mark imo.

aimo & dyor

Shaf5,

I try not to get involved in Jackasses's posts and he/she/it usually always become confrontational, however I feel given its reply, you deserve a real answer.

Tiny gap is circa ~389.75p that in itself when closed would also mean our +2 year downtrend has been well and truly broken too. I'm looking at initially breaking the downtrend early June, all being well. Remember WD deal was made against an agreed HBR SP of 360p at ~60% premium to our 30 day VWA. atb

aimo & dyor

"The board must be crazy playing it like this unless the game is to get other bidders in.."

Or they are madly sane, go private then relist with an insanely price IPO stateside and become even wealthier overnight. There is no way Poppy et al will be giving this baby away without them being a major part of DARK's future... what, wink, wink assurances have they be given I wonder ... hummmm !!!

aimo & dyor

Wowww, lighting fast from licence award to announcement of potential farm-in partner, now who do you think that may be?

https://orcadian.energy/potential-farm-in-to-the-sns-licence-and-proposed-long-term-loan-agreement/

aimo & dyor

Guess we will now have an extension to the extended shutdown this summer.(lol)

TW really did sell us a LEMON as they must of known of these issues back in 2022 too !!

aimo & dyor

Mid-point at that time was 7.851 afaics

'O' trades that are reported late, very unusual.

Only just seen them, large mid-point trades, 'O' ones at that, hummm !!! :

Date Time Trade Prc Volume Buy/Sell Bid Ask Value

20-May-24 10:30:53 7.85 800,000 Unknown* 7.67 7.71 62.80k O

20-May-24 10:24:15 7.86 800,000 Unknown* 7.67 7.71 62.88k O

20-May-24 10:23:42 7.85 800,000 Unknown* 7.67 7.71 62.80k O

"Labour has previously announced plans to for GB Energy, a publicly owned clean energy company through which the party plans to invest an initial £8.3bn in floating offshore wind...."

LOL, we are yet to see any large scale, commercial floating windfarm anywhere in Europe. As for costing £8.3bn, think you can easily double that given how every large scale project ran in the UK has always gone significantly over budget & over schedule, with Labour running the show, I would be surprised if it was ever completed , if so, what would the annual subsides needed to keep it running. For me there is not a cat in 'ell chance of such a project being commercially viable run by any government, let alone Labour controlled, plus god knows what MWh costs will be thrust upon us, the consumers. Added to which, with a half finished floating windfarm our NS O&G industry would have already gone the way of the mining industry .... dodo style !

https://www.energyvoice.com/oilandgas/north-sea/553747/union-launches-north-sea-no-ban-without-a-plan-campaign/?

aimo & dyor