Member Info for NewKOTB

Muckle,

That's the date and thereafter in my book too. RRE T/O offer included the following, "Viaro Energy reserves the right to reduce the Consideration payable.....of all or part of any such dividend." so I would think given SQZ holders, including our BoD have been waiting so long for this moment, can not see how waiting a few more days will make much difference. Because, whats to say any offer, if it came would be successful, add in the delay for such an event and so, 'Kiosk Kate' would be using her skills to ensure we at least pass payment date before any 'action' aimo.

atb

QC,

As if by magic !!!!

"You are very defensive NewKOTB.... " Not so much defensive, more alert to BB shenanigans. Call it co-incidence, no doubt you will, but the first mention of Viaro and you appear ... just saying !

BTW, you could always try expressing your opinion over on the other board .... A..D.V.F..N too.

PS Glad you have made your point, as there is no need to discuss it further, as explained previously, please re-read historic posts for BB thoughts on your matter.

atb

We have all waited a longtime for this special occasion, everyone enjoy the moment .... just over a week to wait ... it's like Christmas so exciting (lol)

atb

TSC,

Enjoy your rewards and atb.

LOL ... > QC

QQ,

You classed yourself as a "Long-time lurker, first-time poster..." so why bring up topics of 'discussion' that have been covered, in great detail many, many times previously, just re-read the old posts. You are clearly an articulate and astute person yet wait, having been a shareholder for over 2 years to start questioning our balance sheet on a public forum ... !!

FYI, I do expect transformational corporate activity with SQZ this summer having explained my rationale many times on this forum. Maybe not with Viaro, but then again, why not.

Muckle, You may be correct, lets see how much QQ pushes this topic and others.

atb

TSC,

"He gave the company away for nearly zet ZERO.." Except he bags +£70,000,000 personal fortune and go's on to 'aid' in running Viaro Energy / RRE with no doubt an eye watering package. "Accordingly, it is Viaro Energy's intention that executive management will be retained with the exception of the Executive Chairman, who will resign from this position on or around the Effective Date but be retained as a special advisor to the Viaro Energy Board..."

aimo

Was watching TV last night .... well say watching, channel flitting, came across an interview regarding Huawei and one of our seasoned politicians (sorry can't remember who). The gist of it was, while working in Hong Kong he got to know the Chinese and the way they differ from Western approach to business. He said that 'the Chinese have a strategy and they make sure they execute it" ... unlike the UK who flip-flop. He also emphasized the impact President Xi (for life) is having on the country.

Only a matter of time ... tick tock .... .... .... ....

Much rather Peel's Jan price of 186p ....

MTS,

Who's to know the reason behind their increased holding. Blocking or For vote, Rival Bidder, pick any !!

BTW, GS, would not trust them one inch ..... for the younger readers, one centimetre.

atb

TSC,

Indeed, where did they come from with 6.1% now .... (6.08% VOTING too !!) and more to the point, why.

Lonestag,

That is taken as read, question is have the takeover code rules been 'massaged' as to how they knew to acquire and when and at what price..... that's all I'm saying. How fine is the line between insider dealing and legally acquired shares. Members and employees of Hannam in connection with H&P Advisory Ltd as a concert party to Viaro Energy .... hummm

atm & aimo

Tom,

Should you be cautious about the hidden intent of a new poster who has held for years but never posted, now decides to post with no doubt increasing regularity. Me, for sure, I'm watching this poster like an eagle. This, at a time when we have just witnessed the 'goings on' over on RRE.

imo

MTS,

IMO you can not compare SQZ with RRE ... so many reasons why, mgt is just one, lets just say SQZ will hold a few surprises, nice ones imo :-)

atb

MTS,

Question is, at what point prior to 29/2/20 was the pattern decided and the cloth cut for the stitching to being.

Big business, is what it is, fear we PI's, will once again, never know.

I would have thought and hope most PI's managed to gain at least something(£) from this episode, if not, then experience can be just as valuable.

atb

Maverick,

From an investment POV an acquisition is more sensible if you take a long term view .... but then other parties may be doing the same looking at SQZ too. Particularly given SQZ ZERO cost production BKR PSA increase from 60% to 100% in <18 months and other generic growth planned over that period.

No matter which way you cut it, this summer will be 'transformation' for SQZ, one way or another.

atb & aimo

Find it hard to believe that Hannam directors / partners only acquired shares on Friday at, I would guess circa 1840p for 2% of RRE (263,844) ..... So as a concert party to Viaro Energy, what price did they get acquire them ! .... These guys must have been having a party watching the panic and confusion openly discussed on this and other BB, whilst they sat back and waited for the T/O announcement. Remember RRE entered into Confidentiality Agreement on 29th Feb with Viaro ..... Just saying.
aimo

To put into context .. other NS deals around atm include;

Spirit energy. $1bn = 80kbopd
Exxon oil fields : +£800m, 80,000 bopd and 441 million cubic feet gas
Perenco assets : £400m / 55,000 boepd

So for as little as £260m net, Viaro could get two well run, well managed, profitable companies, with 55,000boepd production and 125mmboe 2P. You could not wish for a more stable base from which to grow a new NSCS company.

In other words get the whole deal done for equivalent of $2.50/barrel 2P ..... unbelievable. ROI for Viaro could be as little as 18-24 months, that's without taking into account organic growth during that period, so is likely to be considerably less.

aimo

Further to my thoughts on SQZ being taken out .... in this case by Viaro.

Given that RRE entered into Confidentiality Agreement on 29th Feb, who else are they in discussions with .... I would wager they are looking to build on RRE assets from the off so expect other acquisition by Viaro in the near future....

On that, Viaro closed out a deal for £500m bridging loan facility (2 facilities of £250m each) on the 3rd, Friday before RRE T/O announcement. So on the surface, appears reasonable, however the sums do not add up. T/O of RRE is ~£240m, which would leave £260m ..... OK so nothing to get worked up about until you read the Offer RNS that includes "Viaro Energy may use part of the RockRose Group's unrestricted cash balances to partially settle the Consideration due to RockRose Shareholders..." So in effect RRE will be acquired by Viaro using RRE own cash hoard currently estimated at ~£285m. Cost of buying RRE is £241m, ending up with net ~$44m CoH. So this would leave Viaro with ~£544m cash available ...... cash they could easily take SQZ out for 170p (~£450m) or net of ~£300m taking SQZ CoH into account.

Upshot is Viaro have taken a £500m facility the day prior to RRE T/O RNS, for which they have no need in terms of acquiring RRE .... so who else are they about to consume. Take that with Viaro's own statement "We have ambitious growth plans in the UKCS and we believe that RockRose's producing assets, its staff, its commitment to health and safety, the environment and best in class operational procedures, will be an ideal platform from which to grow our presence in the UKCS..."

So contrary to some others views, I do not think SQZ will need to worry about diversifying away from Rhum .

aimo