Member Info for NewKOTB

Another interesting fact is we share the same office location on Hill of Rubislaw with the likes of Chevron, ConocoPhillips, Marathon Oil and maybe more interestingly Ping Petroleum and Ithaca Energy. Handy for those 'informal' chats over a coffee or cold beer, just saying.

http://hillofrubislaw.com/

aimo & dyor

The requested increase in daily production from the Rhum field, in excess of 500,000 m3, is expected to commence in July 2021....

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/993857/Rhum_Summary_of_The_Project.pdf

"still think it'll be down at close of day...." . Well it was as good as afaic ..... UT closed us down 3 pts at the bell to finish the day +3.6pts (+2.43%) That said, 151.6p close is an excellent recovery on week after that awful drop on Monday.

Looking for that elusive RNS on Monday ....

atb and good w/e all.

PS Appears my DRIP has not been processed, so will probably have to pay the price on Monday.... Oh well !

Appears to me the Yanks are forcing this down on known knowledge, nudge nudge, wink wink ...... I feel we are being talked about in a few Yankie boardrooms atm. BP offers exceptional long-term value and is certainly ahead of the game with re-positioning the company to meet the changing demands of customers. Our SP has made little to no progress since beginning of year .... hummm

Results for Q2 due between 27/7 and 3/8 ... when they drop they will sure prove to be above expectations imo.

Until then expect our SP to be kept on a tight leash.

aimo

PS ...Forgot to add, just hope the DRIP trade occurs before R3 RNS, which is due at any moment.

aimo

Massive growth potential in the right hands ..... SP is being kept under pressure for a reason, not unlike BT that long ago. Hold and accumulate.

aimo

No, not my leaking kitchen tap but the divi re-investment .... appears as if its going to trigger at or around our all time high ... just a case of waiting to see what the DRIP trade is ! Either way, I'm sure the trade will pay me grand dividends in the future, one way or another ..lol

...."2020 will not be bad either !.." ......2021 H1 will not be bad either !

Sorry guys, got mixed messages in my brain with forthcoming H1 2021 and 2020 EoY ..... blame old age, or sunstroke .... or just being an idiot .... take your pick.... lol !

atb

Weird how only a few years ago there was massive concern over our UK gas industry and the collapse of gas prices with the proposed NS2 ..... however, Putin's plans are not just about gas supply for profit but has always been for political power and influence over the EU, by association, USA.

Whilst the EU look at cutting gas projects and continue to back themselves into a corner with energy security in being seen to be 'green' during the energy transition, Putin keeps opening up massive gas fields. For the energy transition to work you need energy (gas) to facilitate this .... Putin has seen his opportunity and will get his way.

The UK has only 7 major Gas Storage Facilities sites .... with an average draw-down capacity of ~15 days, the lowest of any of the major EU players. So at our current 29% capacity, that's around only 5 days supply ....

Somehow I don't see gas prices falling for sometime .... or even longer should Putin not play ball.

Getting R3 and Columbus online in H2 will make a massive difference to our bottom line. Our forthcoming EoY financials for 2021 and particularly 2022 / 2023 will be astounding, 2020 will not be bad either ! Just a case of waiting for Mr Market to see this and reflect that in our SP for a company that supplies ~5% of UK gas needs. Fair value imo is ~280p, so some way to go yet.... we are getting there ..... S l o w l y .

aimo

R3 is the biggest single event for Serica since the BKR deal ..... almost 4 years ago.

With Columbus online in Q4, adding ~3,500boepd net and 100% ( 66% increase) receivables from BKR in less than 6 months, CoH in excess of £100m and NO DEBT ..... going to be an exciting few months, providing no one gets their hands on our crown jewels.

atb & imo

Yep, heading back to Aberdeen..... time for yet another top-up ...

atb

Looks like she may of just finished .

If so, RNS tomorrow / Friday or possibly Monday once flowing and stabilised rates .. ;-)

Appears Boka is approaching the final stage of connecting R3 3/29a-6 Xmas Tree to the Rhum sub-sea manifold, after which we can expect to increase our production estimated to be in excess of 500,000 m3 / day from R3 ..... ;-)

aimo

Thanks .... "Design: Subsea IMR, Survey, ROV Support and supply vessel"

Was it not our supply ship that arrive at Bruce on Friday, Deep Vision !

Quite windy over the w/e, winds >25 knots so was probably unable to complete her works.

aimo

Volumes are low .... artificial fall using backdrop of FTSE Covid concerns and OPEC+ deal . imo.

Gas futures climbing .. atm >90p/therm for Aug .... we are ~80% gas ... :-)

I'm about to top-up for probably the last time with Serica in its current form.

Orders placed .....

aimo & dyor

"Doubt they have any interest in selling given they won't get access to the proceeds anyway.."

Stranger things have happened .... for the Iranians it all about internal political power and their nuclear program. This week Abbas Araghchi (Ministry of Foreign Affairs) is visiting the UK, combine that with his position of Iran's chief nuclear negotiator add-in Nazanin Zaghari-Ratcliffe, UK with-holding Iran's tank money and the IOC holding sway over 5% of the UK gas production and their escrow account, new Biden administration and you can see how negotiations can become intertwined.

As I say, Stranger Things !! For sure, if anything was to happen, it will not be a simple case of the sale of a part owned NS oil field, although the propaganda will always paint it as so.

aimo

Almsivi,

Fair assessment, I too agree with those timelines, the only fly in the ointment or possible egg on our faces will be H1 2022 when we look to drill Eigg ... utter failure as with any drill in this sector could damage our SP, that said, Rowallan had little lasting impact. We are however dealing with a much larger prospect and as such, expectations will rise accordingly, likewise any success could easily move our SP dial on considerably.

For me, atm the window for a T/O will be closing shortly and as you mentioned "unless it's a ridiculously rich offer", that can take several forms and hide behind various disguises ... PE or a PE backed outfit would be the one to watch for or one that shareholders can 'share' future growth with.

As for getting any vote over the line, unless it has the backing of 2 or 3 of our major holders, they can forget it ..... too easy to block with our current share register imo.

Do forget also the everlasting quote from our BoD, "Well positioned to benefit from ongoing M&A activity.." which would turn our world upside-down and inside-out should another transformational one occur.

atb ..... aimo & dyor

The special thing with AA is, he can see what others can't and has the ability to make it happen .... 4-6 weeks, knowing AA could be 4-6 hours away from a mega deal.

aimo