Member Info for NewKOTB

She is underway .... guess the weather will not be an issue. :-)

https://www.marinetraffic.com/en/ais/home/shipid:184208/zoom:13

Clearly wasted my time ... atb

Ripley,

Ripley, 'believe it or not', I think what's being said is try and curb your excitement as it appears SQZ is, your 'flavour of the month' and there is certainly no malice intended imo. No need to post perpetual in's & out's of your trading, we just all hope you are on the right side of any trade and good luck with that. For others on here, a few whom between them btw hold, combined, significant percentage of SQZ view Serica very differently. As Sasa mentioned, each to his own. atb

aimo & dyor

Well, some close that ... ath

Guess those 4.78% of shorts open at end of Feb have now decided to close, way too much risk I would say.

aimo & dyor

n/m

flexmw,

https://www.marinetraffic.com/en/ais/home/shipid:184208/zoom:19

Then click on (i) to right of ATA ... "Reported Destination: RHUM"

atb

Boka Polaris still in Aberdeen port .... with worsening weather conditions, guess the 2 weeks will be pushed out to at least 3 now, even though we have a spare SCM stocked in-house ... :-(

SmithyS,

Thanks, no need to overthink your post ..... :-)

atb

With average NBP ~202p/therm and Brent ~$93 barrel for 2022 to-date on average production 30.3kboepd revenue would be around ~£128m, net (post Opex / hedging / Admin) for first 58 days, with an additional ~£5m net for the past week on reduced production. 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 ~£366m would mean that SQZ present Cash to MCap represents 47% of company MCap held in cash and equivalent atm. Not forgetting, SQZ are DEBT FREE too.

As I keep mentioning, perversely, the longer this continues the cheaper SQZ becomes to acquire.

Cash build will continue to be significant ( once Rhum SCM replaced ) as major CapEx (other than Rhum repair) not expected until H2.

Once repairs complete at current NBP (485p/therm)/Brent($117) SQZ would add circa ~£5.0m per day, net or around ~13p/s per week in cash.

aimo & dyor

Weather for next week is not all that good .... 60°07.758'N 001°44.088'E

Late Tuesday wind picks up +30 knots with slight lull early Thursday then windy until weekend

AIMO

Just to be clear, atm SQZ are producing ~10kboepd (on temp reduced production), around 8.5kboepd gas / 1.5kbpd Brent. Our maximum hedging for 2022 is ~6kboepd gas which fall to ~5.2Kboepd in Q3 and ~4.3kboepd in Q4. SQZ are full covered so long as production remain above our hedging commitments. The little extra cash that our counterparties may call upon will be fully covered by our currently vast CoH and equivalents of c.£245m

aimo & dyor

IRT,

Are you serious "Serica might have a liquidity problem... "

We have already lodged £115m with counterparties for 2022 production as these unwind they will be replaced with request for future hedged securities ... in other words the cash placed with counterparties will just go round and round ... We also had at YE 2021 £103m in cash. Since then SQZ have added ~£130m, net (post Opex / hedging / Admin) cash and owed revenue totaling for this year. Yes our hedged % has gone up but so has our CoH, for SQZ to have a liquidity problem all production would need to be off-line for some considerable time. This is why with diversification ie Columbus and Erskine SQZ have a 5.6kboepd safety-net they didn't have before (not including Bruce/ Keith either). SQZ have no debt to service, so no worries there either. I would say producers that have ~50% of their production hedged and large debt to service are to ones to worry, not SQZ .... can't recall which NS player that is atm.

aimo & dyor

Rhum Subsea Control Module (SCM) Changeout :
An 10 Day operation utilising a DSV from which both divers and an ROV will be deployed to facilitate the change out of the Rhum manifold SCM. The operation will involve the temporary deposition of subsea deposits including, but not limited to grout gabions and equipment / tool baskets. Start and end dates within this notification represent an operational window to account for weather delays.

Start date:
05 Mar 2022
End date:
31 Mar 2022

"Hold back on filling your tank up !!.."

But make sure to do so before oil embargo on Russian oil is announced.

Appears as if the market is expecting an Iranian deal .... market will then be flooded with >100mmboe currently sitting in tankers, resulting in a significant drop of WTI / Brent.... Hold back on filling your tank up !!

aimo & dyor

Overall, the most important thing to take from today's results is ......

DT's BUSINESS IS GOING IN RIGHT DIRECTION FOR THE FORESEEABLE, imo

aimo & dyor

Darktrace boosted its adjusted Ebitda margin
forecast for the full year.
YEAR FORECAST
* Sees adjusted Ebitda margin 10% to 12%, saw 3% to 6%
* Sees revenue +44.5% to +46.5%, saw +42% to +44%

FIRST HALF RESULTS
* Revenue $192.6 million, +52% y/y
* Operating profit $8.65 million vs. loss $4.88 million y/y
* Adjusted Ebitda $46.7 million vs. $20.8 million y/y

"if it isn’t bought out sooner which has to be highly likely with all the big boys wanting more gas...."

That's one avenue our board should be aggressively exploring for sure .... gas prices will return to some form of normal in a few years one would think, so why not get a deal away whilst interest is high and possibly multiple interested parties too. Remember, we have a long and hard road ahead, if I had just invested millions, why not flip our gas business for multiple returns (return cash to shareholders) and focus on our Transitional Power division.

aimo

:-)

flexmw,

Using 350p/therm and $110, at the moment on temp reduced production (10kboepd) we are receving ~£890k gross per day. Compare that to normal production ~30kboepd where we would be receiving ~ £4.1m per day gross. Lost earning at present rates of ~£45m over the next two weeks, plus Rhum costs, assuming all goes to plan. So you can see why I thought what I did on release of RNS. Remember, first 6kboepd is at 57.4p/therm. Also forward looking, weather not too good off Rhum, storms for several days ... :-( .... typical Serica !!
I'm allow for £110m Opex, £7m admin and £60m CapEx for 2022 on average production. Will need to add a few million more for Rhum now too......

aimo & dyor