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See Meggitt ( who are involved in Military defense systems ) have had an approach this morning...... M&A in FTSE about to increase imo .... Too many undervalued UK companies for them to be ignored esp as the world is expected to open up and GDP to accelerate.

Maverick,

Going back to our chat about H1 results 2021 vs 2020, how could I have forgotten our 45 day outage for caisson and associated repair costs ..... so regardless of our extra unexpected cost over-run with R3 / Columbus plus 2 weeks outage for FPS, like you , I expect H1 2021 results will be far superior to 2020's.

I estimate Jan – June 2020 NBP averaged ~18p/therm, where as Jan – June 2021 NBP I'm estimating an average ~59p/therm, with Brent showing significant gains too.

aimo & dyor

An outright t/o might not be Drahi intention, who knows, but a mega merger, with HMG blessing, could well be imo.

Easier ways to earn returns on billions than investing in a historically constricted tanker of a company like BT .... One thing I'm sure of is, he's not in it for purely return on capital in the form of cash.... hidden agenda at play, which is likely to surface within 6 - 18 months.

For me, this is a case of accumulating a position on any weakness and holding, whilst waiting for the rabbit to appear.

aimo

lol ..."Only 5 hours left of Q3 ...." "Only 5 hours left of July" ....

ACW, so when are we going to start producing from R3 ..... some indication / update after Boka's DSV visit would be nice as the RNS is a little confusing.

https://www.serica-energy.com/downloads/releases/SQZ_R3%20Well%20Flow%20Test%20Results_100621.pdf

aimo

Also ....RNS stated "A diving support vessel (“DSV”) has been contracted to install the subsea control equipment required
so the well can start producing in Q3 2021..." note the use of 'start producing', no mention of 'expected'....

Add-in "The volumes flowed during the test are equivalent to over 10,000 boe/d which demonstrates the quality of the Rhum asset..." combined with, " it is expected that the well will be able to produce at higher rates when in production"...

Only 5 hours left of Q3 ....

aimo

Yep, interesting, it was there this morning .....!

June RNS "R3 is already connected to the subsea production infrastructure and it is expected that operations to commence production from R3 will take place in July.."

Since that RNS, we had Boka Polaris on-site at R3 and Rhum manifold for a week and she left site 22nd July, since then radio silence from SQZ on R3 !

Today is last day of July ... hummmm

aimo

Ye good old pullback on UT's ...don't you just luv 'em

I would say, with my crystal ball in my hand, news on Monday, 'One Way Or Another.'.... & we are only going in 'One Direction'.

atb and imo

I suspect something else ... ;-)

What BP have in terms of advantage is a MASSIVE trading arm .... if that doesn't make them serious cash during this rising market nothing will.
Yes, very strange day with O&G majors today....

aimo

HBLU,

I'm not going to put names against quotes, so unless your were watching you will probably have very little idea of the speakers involved ..... couple of quotes pertaining to Rhum ... "Iran use to own half of Rhum...", "end of Q4 online".... As I said just pre-amble chitter chatter so not factual in any sense or part of official presentation. Make of it what you will !

PS . Upomega, as for my thoughts on R3 radio silence, I think we are on the same page.. ;-)

atb and absolutely, aimo.

OK, so if Boka is not returning to Rhum, it really begs the question, after 8 days from Boka leaving Rhum we still have total radio silence on R3 !!!

Watched "Live walk through of the Bruce Platform (Digital Twin)" last night presented by Bruce Taylor ..... really quite interesting although the really interesting bit was the pre-presentation pre-amble chat ... anyone else pick up on that !

KIST doing nicely this morning, just saying !

aimo & dyor

Appears Boka has left port ..... destination stated as Jura Field not Rhum.

Traders, wanting their rewards for holding more than 5 minutes.

"Its that time of day - expect it to move down again....."

LOL ..... wrong, it moved UP.

VOD - Catchphrase should be "Expect the unexpected."

Patrick Drahi, one person who wouldn't need to be asked twice to look this gift horse in the mouth. Altice for sure will be adding to its already considerable position over the coming weeks / months imo. The downside is he will want to do it at these suppressed prices. Buy and hold imo on any further weakness.

aimo.

btw Maverick, H2 will be astonishingly good..... as for YE 2022, well I would struggle to put a figure on our profits for being way too conservative in the first instance should these current futures prevail. Just need to get that troublesome R3 online.

aimo

Maverick,

We had more than expected in outgoings for H1 (R3/Columbus) coupled with restrictive hedging and FPS outage our results will probably be curtailed a little but still be pretty good imo.

flexmw,

They have just changed the dates to ......

Start date:12 Jul 2021
End date:07 Aug 2021

Start date is when Boka set off for R3 initially so I'm even more confused atm as Boka is still moored up in port. So is she going out again or not, if so, doesn't leave much time on site when you include sailing time / weather conditions !!

aimo & dyor

"let's not discount how much the NHS's wastefulness can benefit our sales........"

Yep, when they get around to checking those out of date items that have to be binned ... Trusts will need to go on a spending spree.