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We really do need to get another deal away that adds value soon. Mr Market is not keen on companies that hoard cash, it should be working for the likes of SQZ shareholders not sitting in a bank at +0.25% interest pa or what ever it is. Not as if we can even pay our debt off, as we don't have any !!!

It has been well over 2 years since the BKR announcement, a deal must be close, just has to be imo.

atb

Some sneaky buying recently, 90k yesterday 75k today !

We closed 2018 out at 122.75, just over 12 months later we are sat at 126p

In those 12 months we have:

Accrued an additional c$80m (22p/s) in cash (est c$130m CoH)
Increased our PSA revenue by 50%.
Shown record profits and sales
Increased production by 20%
Reduced Opex to very low $12.30 boe over a realised average sales price of $34 per boe.
Added new licences close the Rhum
Obtained an extended extension to OFAC
Still no debt

Only negative was Rowallen, which was never seen a major SP driver.

Yet we still sit at just 3p above 2018's close.

Also, we have yet to see the end of our daily BoT 'A' trades that has been with us for over 2 years now too

So, PMO purchase of Shearwater my not be a done deal after all.

https://arcmcap.com/ARCM_Response_to_Premier_Oil_PLC_V2.pdf

The news sent Premier’s shares soaring by around 12%, a fact which is likely to come as a shock for asset manager Asia Research & Capital Management (ARCM).
ARCM recently revealed what is thought to be the UK’s biggest ever short position, of nearly 17%, in Premier Oil.

https://www.eveningexpress.co.uk/news/business/bp-sells-north-sea-oil-fields-for-almost-half-a-billion-pounds/

So either we lost out, or SQZ have another acquisition iron in the fire.

Or that other iron is a merger / takeover ...... several options out there, my personal one is Tailwind.

atb & aimo

Oil major BP has struck a deal to sell its stakes in the Andrew area in the central North Sea to Premier Oil.
BP will also divest its 27.5% non-operating interest in the Shearwater field to Premier.
The deal is worth about £475 million ($625m).
Premier Oil has also agreed to buy a further 25% of the Tolmount project from partner Dana Petroleum for up to £185m, taking it to 75%.

"How much revenue has been withheld from rhum to date?.."

Does it matter ..... not a jot imo. We get paid, that's all I need to know.

"IOC's interest in the Rhum field will be held in escrow for such period as U.S. sanctions apply and ensure that neither IOC nor any direct or indirect parent company of IOC will derive any economic benefit from the Rhum field during that period. IOC will also exercise no decision-making powers in respect of Rhum during the same period..."

upomega,

Don't think you should presume the company is not making plans to lessen the load of Rhum. Funds will remain in escrow until released, when that is, who knows, but it will happen at some point, providing the IOC remains an entity that is imo !

All it will need is for Trump to be replaced with a President that takes theirs and the worlds responsibility seriously.

atb

Good Volume Today, considering it is supposed to be a traditionally 'quite' trading day.

Sasa,

Yes, we dropped around 15% in a week !!!

Gas up today, sector up today, Brent up today (flirting with $69/barrel), +20% BKR REVENUE more this week .... yet SQZ are down today and yesterday too !

Do get the feeling our mega deal is within touching distance now.

atb

Notice that GKP are UP today, even though US citizens working for foreign oil companies in Iraq are leaving the country.

Could there have been some loose tongues over the festive period .... deal now imminent so want to drop the SP to buy in quickly..... Who knows !

As a sector, O&G are doing well today, SQZ is one of a few fallers.

https://investing.thisismoney.co.uk/performance/price/?sector=0530

Once again our BoD have proved itself in October by gaining an extension of the extension to our OFAC licence. So no concern there imo.

Also by picking up licence P2501, blocks 3/24c and 3/29c recently .... should these be connected to Rhum, just shut Rhum DOWN and extract from these adjacent licences !! Iranian issue solved !!

Don't think they 'need' to update the market as it has been fully documented within the terms of our PSA. When we had our last increase 1/1/2019 we didn't receive an RNS, however that may have been due to being so close the the completion of the deal.

Be nice though, if nothing more that a bit of self-promotion

After all, a 20% increase in BKR revenue is meaningful.

"planned for july." ........... "we can expect farm out news on the second quarter at the latest.."

Think you will find with lead-times, we will have a partner before the month is out imo.

Been watching the SP correlation of i3e and SQZ recently ..... all I can say is .... hummmmm !!!

RNS "could contain more than 600 MMbbls P50 STOIIP....."

Someone is soaking up a lot of PI's sells atm ..... awaiting the mega RNS to drop !

OBNWisa,

"set up a subsidiary to hold renewable assets and buy an existing renewable energy outfit...."

Don't think SQZ, (as in our board), are looking that far ahead imo. Their game plan imo, is to get the next mega deal away and sell the company. If not their plan, others may make that decision for them should the market fail, as it has done so far, to value SQZ correctly.

Could this be ACW et al retirement game plan, after all the AVERAGE age of our BoD will be 70 years old this year !!!

aimo

upomega,

The FPS maintenance will not worry SQZ too much imo. Ineos have kept all interested parties informed for several years now, SQZ, along with all other users, will no doubt use this time to bring forward scheduled maintenance.

The BKR hedge will expire end of June and most probably has already been covered by other hedges taken out by SQZ. Details would be in next financials imo.

CoH would estimate at circa £100m atm with the added 20% uplift in BKR revenues, most of which will go straight to the bottom line, 2020 will be yet another successful year.

Oh, and the one we are all waiting for, the next mega deal to land could happen any day now. I would hope shares are suspended as required under AIM rules for a reverse takeover, locking out the day traders and more importantly, the shorters.

atb