Member Info for NewKOTB

SQZ has never been and will never be a 'drilling' company ..... hence my concerns for Eigg.

aimo

"But BP will hold onto its Andrew area assets..." so it appears buyers and sellers are too far apart .... will BP lower its expectations for its valuation of Andrew ... not while Brent is closing in on $70/barrel and NBP is >60p/therm imo.

So another lost opportunity for SQZ ... out gunned or out smarted by Tailwind ...

Looking more and more as if we are exiting the bidding arena as a buyer and into the shop window with 'For Sale' sign set in neon.

aimo.

One month until Ex-Dividend Date 24 June at 3.5p/s or ~3.04% return .... :-)

'2021' > 2022 ..... when we of course go 100% BKR receivables ...

Our "“considerable unutilised debt capacity”..... is also a major attraction for an acquirer too. Leveraging our reserves against RBL you could easily raise several hundred million, probably in excess of £0.5bn when combined with 2021 revenue.

aimo

Strange way of quoting we have NO DEBT ...

"The upstream firm attributed this progress, which followed a gruelling year for the oil and gas sector, to its “considerable unutilised debt capacity”........."

Have SQZ been seeing how much RBL debt they can obtain I wonder “considerable unutilised debt capacity”.

Hummm..!

AIMO

Great .... down 10% .

Hope our Board are watching closely what is happening over on HUR .....

Crystal Amber ARE NOT taking this lying down.

Crystal Amber are taking on the Board AND Bondholders following Hurricane's proposal for financial restructuring ..... and I say well done them !!!

Way too much skulduggery happening on AIM.

aimo

Hope our Board are watching closely what is happening over on HUR .....

Crystal Amber ARE NOT taking this lying down.

Crystal Amber are taking on the Board AND Bondholders following Hurricane's proposal for financial restructuring ..... and I say well done them !!!

Way too much skulduggery happening on AIM.

aimo

n/m

"So is a placing the only likely option for injection of cash into the company?.." ... No !

I would hope they look towards completing RBL, avoiding dilution and give an extra wide-berth to bringing bondholders onboard (the devil in sheep clothing afaic), that would be a seriously negative move imo. Farm-in, would of course transform the situation too.... :-)

aimo

muckle,

Close 115p .... :-(

Get your mouse at the ready .... that's not a euphemism btw ....

atb

Really don't know where to start with those statements ... other than, in future RD, "Just Say No" when offered

muckle,

FPS has always been an annual event, with the exception of last year of course ... so the market have that priced in afaic, although it may not stop the MM taking the pee. As mentioned this is not an unexpected event and nor can you say it's lost sales, as it's the same every year. Would be lovely to produce 24/7/365(366), but like your car, if it's not regularly serviced it will breakdown and costing even more to resolve, or worst still ... off to the knackers yard. Plus, we don't have any debt to service either that would be a drain on our cash reserves.

For me it's a case of robbing Peter to pay Paul ...operational efficiencies that drive down Opex and prolong COP and other benefits achieved are probably to be realised for the life of the platform .

PS Don't get caught with your pants down on this one .... just saying... for me the difference between 119 and 112 is neither here nor there for a top-up.... but like you I would not look a gift-horse in the mouth should the opportunity arise.

atb & aimo

Muckle,

You have to remember that FPS shutdown is a double-edged sword ..... yes we have a forced production shutdown .... but during this time the guys don't all go home and party, serious work takes place.

Last year Erskine maintenance took place by the operator to enhance flow-rates and we completed major overhaul of our export compressors and power generation units on Bruce. This alongside other maintenance requirements for ensuring H&S etc enabled us to export gas for sale whilst at the same time providing gas injection into wells to increase production stability, first time this has been achieved since 2015 when BP were the owners. We also introduced ESG improvements too resulting in a 62% reduction in flare volumes for example, plus a myriad of other works helping to drive down our Opex and prolong and improve platform efficiencies.

atb

Just 900 ...

atb

Although it is also possible they came from 0%, but I doubt it.

aimo

No, just means they crossed the 5% threshold ... as they had no notifiable interest prior ... ie held less than 5%... Could have been 4.99% or 0.01%

But yes, having +5% in what only a few weeks ago was a cash shell shows massive confidence in AA.

aimo

Oh, btw, our LTIP target for our BoD et al of only double our SP in 3 years ... would be probably smashed by us just accumulating our generate cash over the next 3 years with net production >40kboepd

Getting tired once more of 'apparent' lack of appetite and deal making.... Kiosk Kate ... where are you, there is not such thing as a free lunch, or is there !

aimo

n/m