Member Info for NewKOTB

QC,

Also,

"One complication is our partners on Columbus are also one of the front-runners for acquiring Shearwater, being both Tailwind and Waldorf, so they too would have this in mind also......."

That aside, both Tailwind and Waldorf may also have acquiring us on the menu too, along with Remus, Neo, Enquest, Kistos, Viaro to name a few actively looking to expand their NS portfolio.

It is crucial, imo, for the survival of SQZ that we expand through acquisition very, very soon, otherwise we may become the main meal for one of the above .... or a light snack for the likes of Chrysaor or Ineos.

aimo & dyor

QC,

"I agree NewKOTB that on the surface Shearwater does not appear to be a perfect fit however it is strategic vis-a-vis Columbus (Columbus production is processed on the Shearwater platform)..."

One complication is our partners on Columbus are also one of the front-runners for acquiring Shearwater, being both Tailwind and Waldorf, so they too would have this in mind also.

aimo

One thing the article does however confirm is, SQZ (Kiosk Kate) are active in the market atm ... How competitive we are is another matter ..... a question that no doubt will be answered shortly.

aimo

QC,

Think Shearwater gross production last year was circa 14kboepd, at BP's 27.5% non-operated interest, would be worth ~3.6kboepd (ie another Columbus) .... Unless it was a give-a-way deal, I would not think SQZ (given we want operated assets), would be interested. However, should we also convince Shell to acquire their 28%, making 55.5% (thus becoming operator) then that's a different animal..... de-commissioning too, would need to be retained by BP/Shell or at the least substantially reduced for a deal to happen imo

No deal on either asset would mean for sure , SQZ days are numbered.

aimo & dyor

BP Plc is fielding final bids from a handful of junior energy companies for its North Sea assets, according to people familiar with the matter.

Oil and gas producers Tailwind Energy Ltd., Serica Energy Plc, Ithaca Energy Ltd., EnQuest Plc and newcomer Waldorf Production U.K. Ltd. have been considering binding offers for some or all of the assets, the people said, asking not to be identified discussing confidential information.

BP is looking to offload its Shearwater and Andrew fields and could end up selling its interests to different bidders depending on the interest it receives, the people said. Representatives for BP, EnQuest, Ithaca, Serica and Waldorf declined to comment, while a spokesperson for Tailwind didn’t immediately respond to requests for comment.

The interest comes amid an uptick in mergers and acquisitions in the North Sea region, where consultant Wood Mackenzie Ltd. says activity this year has already surpassed 2020 levels.

The BP fields were due to be purchased by Premier Oil Plc last year under revised terms

The Issue Price represents a premium of approximately 1.23% to the closing middle market price of 163p ....

But should have been much higher premium imo given the shenanigans of late.

Upomega,

Trust me, I too share your's and others frustration with SQZ .... as you mentioned, the company has been floundering ever since BKR deal. I had really, really high hopes of the business being driven forward with Mitch and more recently, Kiosk Kate ... but it appears as if retirement beckons and our assets will shortly go to a new owner.

aimo & dyor

Horrendous UT auction, dropped us by 2.2pts ..... 115p

P&D traders leaving by the backdoor now .... lol

Tomorrow is another day !

atb

"The $B question is WHEN a deal will land, as per my earlier post, it could be days, weeks, months or years....."

Now for my ramp ...... or could be MINUTES or HOURS away ....... lol

PS Ramps all over Twitter atm too.

There is no reason why, given the current SP is the result of 'underhand' exploits that AB can't pitch any equity raise at a premium to current SP, especially as discussion were underway when our SP was +200p for over a month ..... now that would certainly reverse our SP for sure.

KIST recently announced a deal that meant institutional investors would need to come aboard at a 30% premium.. "Kistos will also issue warrants over EUR 5 million of ordinary shares at a premium of 30% to the price of any equity placing..."

QC,

One assumes that our Board have not been or are in a closed period. Should it be true that they were 'looking' at acquisition for most of 2019 and possibly 2020, then that alone would have restricted share purchases. Then you have closed periods on run up to results etc .... so I would have said there has been very little opportunity to buy from the open market in the last 2 years or more..... and possibly even less opportunity right now ! Then again, who knows.

aimo

Well .... not done that for a long time ..... !!! lol

Sorry guys, wrong board. .... :-(

This is not a de-ramp by any means, as a LTH, value appreciation is upper most here, but has to be driven by real news. A lot of CFD / SB's will have to close their IG positions soon or be forced closed, so caution will be needed not to get sucked in on fairy dust magic .... unless you are convinced of the ZIOC stories final chapter. Then, any entry point will be rewarded.

aimo & atb

This is not a de-ramp by any means, as a LTH, value appreciation is upper most here, but has to be driven by real news. A lot of CFD / SB's will have to close their IG positions soon or be forced closed, so caution will be needed not to get sucked in on fairy dust magic .... unless you are convinced of the ZIOC stories final chapter. Then, any entry point will be rewarded.

aimo & atb

Lesson 2: How to make Shorters your new best friends in one easy RNS .... by AB

Seriously though, 'that' RNS was probably a total knee jerk response to speculation and as such imo, has done more damage with a badly constructed RNS than one could of imagined ... guess AB is kicking himself atm.

Question remains, how to dig JOG out of this hole ?

aimo

Lesson 1: How to destroy investor confidence in one easy RNS .... by AB

aimo

Given the tough trading of last year and whilst SQZ gets back to full fitness, being held at 3p would be totally acceptable for the market and majority of investors imo, a slight increase to 3.3p or +10% on 2020 would be an all round winner. This would, imo, fit with SQZ objective to provide a "measured distribution policy to reward shareholders for their continuing support"

This all of course, assumes SQZ are still around to pay the dividend.

aimo.

5p would be outstanding imo .....

See 88E is being hyped everywhere atm, inc Twitter and with Reddit .... company just issued RNS to counter the hype.... was up early trading +125% and going like a rocket.

Just imaging what would happen with these guys backing real ZIOC news.... although being a selfish git, I would rather we get suspended on RNS and re-open at +312p