Member Info for NewKOTB

Upomega,

"This could also add value to egg ....."

Especially on the run up to Easter ..... always higher demand :-)

"Maybe we will attract a substantial farm in...."

Personally, I would rather go it alone, if SQZ are confident on Eigg given it shares many geological similarities with the Rhum Field, with R3, we are getting even more data on .... although our drilling record would need to significantly improve .... as in hit commercial payloads. As I mentioned before Eigg licence has the potential to add >$1.7bn to our valuation.

By the look of it things are progressing with Eigg as we have engaged Exceed Energy to do North Eigg HPHT well planning on block 3/24c. The same company we used for R3 and soon to be drilled, Columbus. Be great to get North Eigg drilling date fixed in the diary for Q4 or even better Q3.

aimo

Mommur,

"Little steps ...."

Our little steps need to turn into big strides... the market needs to get excited about SQZ once more or I can see no matter how many 'little steps' we take our SP will continue to amble along.

aimo

One alternative is a Chinese and Saudi / Middle East alliance allowing China to help ease Saudi's / ME transition away from the US through joint projects and over reliance on hydrocarbons .... over recent years several high profile examples of this working relationship have proven successful. Just another alternative to China going alone imo.

Indeed, could well be one reason behind the 'sudden' acceleration of NS M&A's.

By default, one would also like to think that NBP gas price would be elevated too ..... but knowing the UK, would rather shutdown UK exploration, create unemployment, lower tax revenue and just to be then held hostage by buying 'cheap' arctic gas from Russia.

Aimsurfer,

Just checked and in the case of a non-UK issuer the thresholds of notification begins at 5%, then 10% and 15% so on. So assuming its indeed BlackRock Inc of Wilmington, DE, U.S.A ..... notification would be 5% not 3% as I understand it.

atb

"It would be nice to think that Nguesso is 'signature- ready' and just waiting to get the elections out of the way...."

So the particularity large brown envelopes can flow freely once more .... aimo

By the look of it things are progressing with Eigg as we have engaged Exceed Energy to do North Eigg HPHT well planning on block 3/24c. The same company we used for R3 and soon to be drilled, Columbus. Be great to get North Eigg drilling date fixed in the diary for Q3 or even Q4.

Recently Bruce's COP was push out to 2028 .... only 7 years away now.

I would hope that with R3 and subsequent CPR our improvement in 2P's for Rhum will help extended COP into 2029 or beyond. To aid improving COP for Bruce, SQZ need to get working on Eigg and bring her into production asap. Will take min of 3 years imo, fast-tracked, to begin production from Eigg so news on the progress of North Eigg exploration well that is scheduled for 2021 would be welcomed. Successful exploration well/s for Eigg could unlock the p50 of 130mmboe, that has the ability to more than triple our 2P's and given the recent NS deals based on ~$13/barrel, add circa $1.7bn to our valuation.

That would be a lovely 'Brucie Bonus'....

Lets give our SP an 'Eigg' up and get her online asap.

aimo

Good point Aimsurfer ....

I know 'Blackrock Inc' have a registered office in USA ..... not sure about UK as SQZ's shareholders list only states 'BlackRock' .... if so, then as a non-uk issuer, TR-1's will then become applicable at 5%, not 3% afaik.... but would need to check, this would however answer the question as to lack of TR-1.

atb

legache,

Must add that its not totally SQZ fault we have no TR-1 as it is up to the holder to inform SQZ in their change of holding status via TR-1: Standard form for notification of major holdings. That said, communication between BlackRock and SQZ must of taken place, so why did SQZ not ask for this to be formalised, unless BlackRock are still in the process of adding to their 3.93% of course..... ;-)

aimo

legache,

"but don't they have a legal duty to inform the market within a certain time period?..."

I have already asked SQZ the question on lack of transparency. ..... let's see if we get an RNS notification TR-1 issued.

After all, SQZ were aware of the significant change of GRG holding, so should of asked themselves .... 'where did all those shares go', as clearly they had not been openly traded.

atb & aimo

Maverick,

"so pretty stagnant share price for months means major corporate action coming? I can wait a bit longer..."

Really hope so as I have recently been adding for, what I hope, will be the final push in the not too distant future.

BlackRock are real players and appear to have an healthy outlook on our SP after acquiring 3.93% from what looked like an agreed recent off-book transfer from GRG.

aimo

sasa,

"Well, NewK, you're 'stuck' with your Serica investment for now..."

Not sure how you make that out !

Stuck in the meaning of once had great expectations of follow on deals from BKR .... but yet we are 'stuck' at 116p, same SP as of when SQZ concluded the BKR deal back in 2018.

atb

Given my frustration of our BoD lately, all will be forgiven if we acquire Andrew et al with NO DILUTION then flip SQZ for +400p/s by the end of 2021.

QC,

"Exactly and this is exactly my concern about our management team - they are operationally excellent but not astute navigators of capital markets like AA...."

Yep, KIST, a £38m cash shell ....( ie No assets / revenue), can pull together a deal of this nature ...... with what is effectively, a one man band ..... Andrew Austin. Yet here SQZ sit, with its wealth of knowledge and experience, on the sidelines watching the world go by ...

Could be a few institutional holders looking for change at the top come next re-election of the board.

aimo

QC,

"....while operationally very very solid, we’re in danger of being taken out. I hope I’m wrong and that they are closing in on Andrew/Shearwater......."

If, and it's a massive IF, Andrew/Shearwater are to be ours (not convinced myself), then that has to be a springboard for additional growth and rapid expansion from the off .... SQZ can NOT sit around in front of the fire for another 4 years living off Andrew et al ... The leverage a deal of that size should afford us, will and should open us to many more deals .....

aimo

Well, well , well ...... so since 12th Feb, have 6 out of 9 major holders changing their holdings from last known information and a new entry Blackrock !!

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

4 of the 6 increased, 2 of the 6 decreased, plus one magically appearing above notification threshold level.

GRG UK Oil LLC 34,163,143 12.75% UNCHANGED
AXA Framlington Investment Managers 32,141,728 11.99% INCREASED by 0.3%
Mr D Hardy & Mrs D Hardy 28,391,271 10.60% REDUCED by 0.08%
Canaccord Genuity Wealth Management* 18,964,484 7.08% INCREASED by 0.42%
BP Exploration Operating Company 13,500,000 5.04% UNCHANGED
Hargreaves Lansdown Asset Management* 10,836,965 4.04% INCREASED by 0.07%
BlackRock 10,533,255 3.93% *** NEW ENTRY *** note, no TR-1 ???
Polar Capital 10,462,369 3.90% REDUCED by 0.01%
Janus Henderson Investors 10,246,821 3.82% INCREASED 0.33%
Serica Energy plc Director & Related Holdings 8,194,580 3.06% UNCHANGED

Think we have found where the vast majority of GRG shares went to ...... the naughty boys at Blackrock imo

How is it holdings above the 3% are not being reported ...... Blackrock is the latest.

Now showing as holding 3.93%, without a TR-1.... previously not listed as major holder on Serica's website !

2017 BKR deal announced, 2018 was when this, our last deal was completed ... since then our SP has totally stagnated (outside of Covid fall and recovery), regardless of our cash build, clearing all debt and adding 50% of attributable revenue, soon to be 120% in ~9 months. We also added to our 2P reserves upgrade too ..... there is only so long the market will allow for past success.

On 2/11/2018, completion of the BKR deal we closed at 116p, today's SP 116p ...... do I need to add more. Shareholders certainly deserve more.

Where are we going ....... no where it appears !

aimo

2017 BKR deal announced, 2018 was when this, our last deal was completed ... since then our SP has totally stagnated (outside of Covid fall and recovery), regardless of our cash build, clearing all debt and adding 50% of attributable revenue, soon to be 120% in ~9 months. We also added to our 2P reserves upgrade too ..... there is only so long the market will allow for past success.

On 2/11/2018, completion of the BKR deal we closed at 116p, today's SP 116p ...... do I need to add more. Shareholders certainly deserve more.

aimo