Member Info for NewKOTB

Toff, please explain " the collapse of commodity prices could leave them paying more than the current market price for gas because of hedges they took out to guarantee a future price." Hedges are above the current market price !!!

Also CNA have stated "there are no material covenants on any of our existing debt..." as per RNS, so please explain what your "covenants would need to be breached first.." means too.

Balance sheet and liquidity position

The Board remains committed to maintaining a strong balance sheet. Moody's confirmed a Baa2 (stable) credit rating on 13 March and S&P confirmed a BBB (stable) credit rating on 31 March. As at the end of March, the Company had £0.6bn of available cash and cash equivalents (net of bank overdrafts) and £2.7bn of undrawn credit facilities. There are no material covenants on any of our existing debt.

Trump thinking to himself .....' Hummmm, Opec didn't do it, G20 didn't do it, OPEC++ didn't do it, Tweets didn't do it, Order the saving of shale didn't do it, largest ever stimulus didn't do it..... I know, lets try to start a war in the Middle East, that will do the trick.'

I have instructed the United States Navy to shoot down and destroy any and all Iranian gunboats if they harass our ships at sea.

A lot of contracts, maintenance et al would have still been active during Q1 and without a doubt be running long into 2020 and beyond, so revenue should not be impacted. The question is, will the space MGGT operate in retain its pricing or will deals need to be made. My guess is MGGT are and will continue to be first choice.
Only just made my first MGGT purchase last week ... looking to feather in accordingly. This is a strong and resilient stock imo

Tony, AA has quoted us as have $2bn in HMRC paid taxes to off-set against DECOMM.

In the links you will find the mix, but in essence atm the liabilities is ~$200m atm. Remember, that the half-life of this has just been pushed out further to 2030. Improved efficiencies will lower these cost even more. Getting more throughput will do the same for the overall project, something AA is very active on. With Sturgeon on the case, we could see even more tax relief or alike coming the way of NS operators too. Also, recently AA released all our decomm cash into surety, for the prime reason imo to fund an acquisition.

All info in RNS / Presentations and recent interview with AA.

https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2020/04/05221545/Annual-Report-and-Financial-Statements_2019.pdf
PLUS
https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2020/04/07075326/RockRose-Results-Presentation-YE2019-.pdf
PLUS
https://www.lse.co.uk/rns/RRE/full-year-results-qyug5bak7bk1yhj.html
PLUS
https://d1ssu070pg2v9i.cloudfront.net/pex/rockrose2019/2020/04/07134633/AnalystCall-7-4-20.mp3

Needless to say, decommissioning liabilities not a problem that some would like you to believe.

atb

Myself, I would be looking for our Opex to be lowered. Would be more than happy to see it fall to ~$12/boe.

You can not put too much emphasis on these results as a guide to 2020 for obvious reasons. How SQZ and ACW are cutting costs, improving efficiency, is going to be the key in their forward statement, something SQZ have always been strong on. Dividends two months ago, even a month ago was a certain, now think we would be lucky to get 1p/s, with perhaps view to 4p/s interim in October/November when economics are more clear ... so anything above 1p maiden speaks volumes and the market would like that for certain aimo.

OM,

It took 3 months to complete the first, 11/12 to 10/3. We had notification the rig was moving straight to 2nd well to commence operations, so I would guess mid June although it may be earlier as we did have some nasty NS storms this year.
RRE stated "The first of these came onstream in Q1 and the second is due onstream in Q2".
atb

"one thing I have not researched but if someone has it would be interesting to know how long current supplies will last.."

It's not a case of how long they will last, but when will they be drawn upon. Oil may well go vertical after all this is over, having your strategic national oil tanks super full ( of super cheap oil) and being able to draw upon these in the future when POO >$80/barrel or more, will provide a much needed cushion during the next +10 years of economic growth as the world begins to spin once more. R&D budgets will have been slashed for new and emerging energy technologies, result of which will extend the need for cheap energy sources, with the exception of coal I feel. Gas will take the forefront of 'clean' power generation around the globe for some years to come. Hence why AA will want to re-balance RRE portfolio with gearing towards gas. As for oil, the market will go through a massive period of adjustment, who comes out on top, well that will be the Saudi's for sure, not convinced about US Shale, no matter how Trump tweets, he will be the 'Shale Saviour', whilst he tries to walk on water. aimo

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Iraq’s oil minister did not rule out other measures being taken by Opec+ , but it will depend on the developments of the global market and the extent of the commitment of Opec+ producers & producers outside the group to cut output- statement #OOTT

:-)

What are you on this morning Fox, me slating, think you need to take reading lessons.
atb

BLUE .... lol

For goodness sake, they are 2 of the Seven Sisters......

Shell and BP are FULL CYCLE producers, if they can not make money .... no one can

Like I said .... you don't overpay for a merger !

Shell and BP .. just turned BLUE ..

Maybe, maybe not.

Yesterdays trades were almost ALL bots 'A', controlling the price. Lets see if today is the same shall we.

Maybe RRE are not looking for blood atm .... that will come latter !

You don't need to merge with a distressed company ... takeover yes, merger no !

aimo