Member Info for NewKOTB

NT even for a few grand $$ atm ..... :-)

Thanks Flexmw,

Interesting the mentioning of Lime "is using its virtual drilling seismic technology...", wonder if SQZ have used anything similar for N Eigg .... although it appears as if this technology is only applicable to liquid hydrocarbons, so probably not. Will we finally get CoS for N Eigg I wonder ?

https://www.rexih.com/rex-virtual-drilling.html

aimo & dyor

It would be fair to say that we have high expectations for our YE 2021 results.

However, I would try and control your excitement for those expecting a super dooper massive dividend hike, I have the feeling they may disappoint many.

Caution has been ACW et al MO so can't see that changing anytime soon esp as dividends are to be paid out of net profits and given the close media attention with NS O&G profits recently ... How the books will be 'massaged' to minimise attention yet still balance this with rewarding SH's will be the deciding factor in forthcoming dividends. That said, I would be extremely disappointing if we are not in full cinematic 3D, 'double digits dividends'.... or at the very least, within touching distance. Although 10p/s would represent a ~187% increase .... not too shabby in reality.

No getting away from it, no doubt 2021 will be record results year for SQZ ....

aimo & dyor

There will be a rush to supply EU that's for sure, Chariot are in a great position to capitalize.

"EU states remain divided on the time scale, but European Commission President Ursula von der Leyen has said the bloc hopes to phase out its dependency on Russian gas, oil and coal by 2027.

Israel could build one or more pipelines, potentially via Greece or Turkey, or increase the quantity of gas piped to Egypt to be liquified and shipped off, say officials and experts.

Israeli Foreign Minister Yair Lapid said after a recent visit to Athens that "the war in Ukraine stands to change the structure of the European and Middle Eastern energy market"..."

https://uk.news.yahoo.com/eu-eyes-stopping-russian-gas-083340715.html

Israel will not be alone, I would hope that Morocco see their opportunity and take it, with Chariot of course !

Also, just see how influential Chariot will be in Morocco's gas story, virtually every story references Chariot.

https://www.upstreamonline.com/tag/Morocco

aimo & dyor

With Q1 average NBP ~233p/therm and Brent ~$103 barrel on average production 30.3kboepd revenue would be around ~£190m, net (post Opex / hedging / Admin / Rhum repairs) March, I estimated at average ~15kboepd due to Rhum with follow-on Bruce production and SCM commissioning issues. Our EoY 2021 cash and equivalents resources reported at £218m plus Dec receivables less Nov / Dec PSA estimated at ~£15m net.

SQZ with cash, equivalents and owed revenue totaling ~£423m would mean that SQZ present Cash to MCap represents ~38% of company held in cash and equivalent. Not forgetting, SQZ are DEBT FREE too.

Figures are only estimates as it appears our actual production has been particularly variable in Q1. Given the unknowns with production, even using average ~27kboepd would still represent cash and equivalents of ~£393m, 35% of MCap.

aimo & dyor

There is always the option of DARK buying back the lock-up shares off employees rather than allowing the vultures swoop in and enjoy a feeding frenzy ... Buy them back and put into treasury.

aimo

https://twitter.com/SericaEnergyUK/status/1511991870024519684

I believe so, CHARIOT OIL & GAS HOLDINGS (MOROCCO) Ltd is indeed a separate company, setup in 2019.

Ironic, a company that defends others from attack and protects in turn their MCap can not protect themselves.

RNS, although positive throughout, just one paragraph gave JPM et al ammunition to open fire, with the aid of partners in crime, the media ! Pheasant season has ended and open season now announced on DARK ...

Real pity to see a UK companies SP trashed by >25% in 48 hours for no good reason other than UK markets allow foul-play to be rewarded.... that's what hurts the most... It's not as if UKPLC benefits as I would guess that taxes paid are minimal, if at all ...... :-(

I will be loading up at some point, as to when, I'm unsure tbh.

aimo & dyor

"Am expecting at least a 10% rise on Monday .... "

Really, now that would be a-maze-ing !!!

PS Check your calendar.

atb

CEO,

SQZ ... Hummm, be a great partner but would probably want to be operator which would be no bad thing either.

btw, SQZ produce >31kboepd net.

aimo & dyor

PS I hold SQZ too, atb

"I cannot believe what is happening to this stock in 48 hours...."

Yep, >25% taken off MCap from yesterday's high, on what was a very reasonable RNS..... Mgt should be putting defensive measures in place after watching past 48 hours, at very least issue RNS to say 'no known reason for fall in SP', imo

On the plus-side, JPM at al would not go to all this trouble if they could only bet on the way down. Being lined up for large Yankee institution/s to take major position .... for what reason, well that's yet to be revealed.

This is a multi billion £ FTSE company that's being traded like an AIM share.

aimo

Just over two trading days until EoY results ...... :-)

MattTheBrave, thanks

"JPM set a 400p price target on the stock...."

Well they got it, just hope they don't revise down.

MattTheBrave,

Thanks .... so my point stands, its not a 'placing' in the usual meaning as the shares are already in circulation.

atb

Here's the full extract ......

"Upcoming Events

On 1st May 2022, the post-IPO lockup on up to 85.5 million shares, held primarily by current employees, is scheduled to expire. To help facilitate an orderly sale of such shares, eligible shareholders will be offered the opportunity to participate in a placing structured by way of an accelerated book-build (the "Placing"). It is expected that Jefferies International Limited would act as Global Coordinator on any such Placing. To accommodate available trading days around the UK May Bank Holiday market closure, the lockup may be terminated shortly prior to its scheduled expiration. Accordingly, the Placing may occur before 1st May 2022.
It is currently expected that the Placing will constitute no more than 20 million shares and any early release from lockup will only be in relation to the shares offered in the Placing. Any Placing will be subject to, among other things, sufficient employee shareholder participation and market conditions. There can be no assurance as to the precise timing of the Placing, if it proceeds at all, or the volume and price of shares that will be available.
We expect that any Holders participating in any Placing will be subject to an additional lockup on their remaining shares through 2nd August 2022, subject to certain exceptions..."

PLEASE NOTE : If they want to sell, my guess is most will NOT. They will however, imo apply for the 20m on offer.

As I said really badly worded RNS imo.

HellasVerona,

Yep, the beauty of a 'regulated' exchange .... NOT !!!

90pts swing now off high and still falling ...... utter madness imo.

Buys vs sells almost equal, yet down >10% .... so expect massive after hours trades today.

Big boys taking the pants down of PI's today for sure.

It for current holder of the lockup who wish to add to their holding, 20m max will be issued .... so not a placing in the true sense, more of a mgt / employee incentive scheme imo.

"It is currently expected that the Placing will constitute no more than 20 million shares and any early release from lockup will only be in relation to the shares offered in the Placing. Any Placing will be subject to, among other things, sufficient employee shareholder participation and market conditions. There can be no assurance as to the precise timing of the Placing, if it proceeds at all, or the volume and price of shares that will be available....."

Mention of the 'P' word in this case is wrong, should be called 'Incentive Plan' or such like.

Balls up in the wording of RNS imo.