Member Info for NewKOTB

It had better be at a premium as we sat range bound 20-25p for almost two years, now, within a few months we drop 50% of our SP ..... news is out and doing the rounds imo but not for us mushrooms to know or be informed about. Poor show if a placing is due as a clear breach has taken place ... unless it's for usual AIM mates-rates of course.

aimo

So we have another 950,001 shares added under the 2018 Shareplan .... if anyone has a link to the shareplan as I'm currently unable to locate it ... thanks

Out on loan - shorted 3.81% as of December

GB00BNYK8G86
DARKTRACE PLC ORD
3.81%

Big boys will not be happy with this news .... they will try and pull the SP back to load up more so expect this and take advantage.

aimo

Leaked well before this w/e ..... but just not to us plebs !

I would suggest Proof of CHAR Ownership pre 2010 for entry onto yacht to keep the numbers down, otherwise she may sink.

Not getting my hopes up too much as there is a long, long way to go atm, farm-outs are notoriously difficult these days so we may have to carry the full 75% ourselves plus ONHYM 25% as I'm not sure what our commitment is to their carried interest going forward (if someone can verify would be appreciated). No bad thing if we can work it with absolute minimal dilution, problem is, has GC, AP, JMW et al got what it takes. Our board must be awash with different scenarios atm, guess it all comes down to are we to play the long game for maximum SH return with associated risks, or do a deal within ~12 months and focus CHAR on our renewable and hybrid power solutions.

aimo & dyor

EC,

You do make me laugh .... you joined our ranks only last week and expect instant gratification as Brent oil is up and NBP Gas too .... you have to remember, this is SQZ a law unto itself ever since Nov 2017.

When the lady is ready .... all in good time.

ATB

flexmw,

"Chief executive Mitch Flegg told us he was not anticipating a “huge special dividends” ....

One mans huge is another mans tiny .....

So my interpretation, a special dividend is still an option, as it should be imo

aimo & dyor

ha ha ha ha ..... pmsl !!!

Yep, as it was TNCP reported, guess it was a trade from yesterday completed today ... hence why we were rooted to +9p for hours yesterday allowing the 244p trade to fill. Probability if so, imo only, it's a buy.

aimo & dyor

Morning all,

And I'm not talking haemorrhoid's .... more, the piles of cash we continue to accumulate.

Perversely, as our cash pile grows and our SP remains range bound, SQZ could become cheaper to buy.

For example an offer of £800m 6 months ago would have acquired £100m in cash the remainder of value represented in assets. Today the same offer £800m (297p/s) would still cost the same gross, but this time they acquire ~£200m in cash and remainder in reduced asset value.

Buying cash with cash is a zero cost transaction, with the value attributed to assets having fallen relative to the cash gained.

atm, using NBP 170p/therm Brent $80 inc hedging and post Opex, ~31kboepd,SQZ are adding ~£57m (21p/s) cash per month.

However you would have thought our BoD are brighter than that and allow for such cash gains, guess it all depends who's buying and what 'else' they have to offer the Board for them to recommend the offer. The longer the delay to an already 'agreed' sale would benefit the acquirer by £millions£ daily, remember AA's KIST had already agreed the transaction in principle 6 months prior to T/O RNS. Is this why we are where we are atm and seen zero response in our SP to 100% BKR !

How many times have we seen an O&G company sold for what the majority of investors deemed a poor deal. Although there does come a point when a deal is too cheap and holders vote against. As our cash builds daily, so does that tipping point get rapidly closer.

Tick Tock ... re-rate or t/o, which will it be ?

aimo & dyor

Ok, new holdings just announced .....

Old notification in brackets ()

Mr D Hardy & Mrs D Hardy 28,585,036 10.63% (10.64%)
AXA Framlington Investment Managers** 28,561,605 10.62% (10.19%)
Canaccord Genuity Wealth Management* 20,357,494 7.57% (7.79%)
Hargreaves Lansdown Asset Management* 13,804,646 5.13% (5.06%)
BP Exploration Operating Company 13,500,000 5.02% (unchanged)
Janus Henderson Investors 10,788,020 4.01% (4.07%)
Interactive Investor 10,080,751 3.75% (3.86%)
Polar Capital 10,062,369 3.74% (3.89%)
BlackRock 9,245,343 3.44% (4.25%)
JPMorgan Asset Management 8,337,361 3.10% (3.22%)
Serica Energy plc Director & Related Holdings 7,874,580 2.93% (unchanged)

Information correct as at register analysis cut-off date of 31 December 2021 except where TR-1 notifications are made subsequent to that date.
As at 11 January 2022, the Company had 268,891,044 (268,868,031) ordinary shares in issue of which 24.18% (23.97%) is not held in public hands

https://www.serica-energy.com/shareholder-information

atb

Will, along with every interested investor, be watching out for our unaudited CoH in this eagerly awaited update.

Should the cash on 31/12/21 be in or around £260m then our SP will go wild'ish, as that's appox 40% of our present MCap. Anything more and we should breakout of our all time high ~267p into a new trading range given present NBP / Brent too.

That said, I would be happy with ~£200m cash (~30% MCap) given the torrid time we had endured with R3 and to a lesser degree Columbus delay coming online.

Not long now. atb

aimo & dyor

Dickupham,

"A 10p dividend (for instance) would cost the company shareholders own (not the directors or anyone else) around £27m, which is peanuts in light of the cash presently sitting in SQZ's bank accounts ...... and is accumulating daily at a ferocious rate."

Strangely, that's the cash we have added to our hoard in first 11 days of 2022 .... circa ~£27.2m

aimo & dyor

Previous corporate updates released on 21/1/2021 & 14/1/2020.

So any day now imo

See today that >56% of our electricity is being generated by gas ...

https://grid.iamkate.com/

Then you have pure gas consumption too with industry and household ....

UK PLC can not do anything to damage homegrown production and that includes windfall tax that will result in reduced investment and ultimately the accelerated shutdown of NS O&G industry.... but when has logic ever be a requirement of government ministers. Could be the time to invest in candle makers.

aimo

flexmw,

Why you ask ..... because SQZ ran scared after the lows of 2020 and locked in silly hedging as soon as they could imo.

Your logic is sound and I too think that ~20% hedged is way too high as the reason for hedging is usually to fulfill loan demands ie debt obligations, cover std operational and future expected CapEx. As we have no loan / debt then that one is a none starter. Admin costs for running the business in the region of £10m pa and that leaves CapEx .... which today we have not been given any figures on for N Eigg. So yes why hedge so much at such poor swaps. The puts made at time of BKR for 35p/therm proved valuable but that was only on the insistence of BP T&C's for BKR deal we had them and were dealt with by BP's trading arm .... probably these latest swaps which 'cost' us in the region of ~£80m were probably facilitated by BP too ... win, win for them. Why use swaps at all, be best to pay upfront costs for puts imo buts that's another story.

Comes back to the fact that SQZ are now a grown up company and as such should take seriously the need for an employee skilled in hedging.

Exhibit 'A' - Q2 2021 swaps at 30p/therm 100,000th/day - Q3 2021 swaps at 29p/therm 100,000th/day (~1700boepd per quarter or ~10% of net gas production at the time)

https://www.serica-energy.com/downloads/presentations/Serica-Energy-2020-Interims-Final.pdf . Page 9

aimo & dyor

Since BP's boss stated BP is a 'cash machine', their SP has not stopped climbing. Any chance of ACW / MF making a similar statement ...... or even getting some positive PR out there and a reference to our 66.7% hike (100% BKR) would not go a missed either.

Chief executive Bernard Looney said: ‘When the market is strong, when oil prices are strong and when gas prices are strong, this is literally a cash machine.’

https://www.msn.com/en-gb/money/other/bp-is-like-a-cash-machine-claims-boss-bernard-looney-as-the-price-of-oil-and-gas-soars/ar-AAQfp9M

SQZ PR dept and MF should be all over the media outlets, doing the rounds, interviews etc .... yet nothing other than a single tweet is to be found ..... What gives with this company, like I said time and time before, its almost as if they want to keep a low profile !!!

PS. Still no real details on N Eigg drill whatsoever, a drill that could be happening in little over 5 months (British summertime begins 21st June ) ... news blackout here too.

aimo & dyor

Plus, we only have a single transaction over 25k (25208) of shares today so far , all the rest are tiny AT BoT's.... as I said fall unjustified for as yet and unknown reason.

aimo & dyor

Vol Sold 286,650
Vol Bought 258,209