Member Info for NewKOTB

https://www.serica-energy.com/downloads/presentations/PRESENTATION%20TO%20SCOTTISH%20OIL%20CLUB%20EDINBURGH%20MAY%202019%20-%20RELEASE%20VERSION.pdf

Gives a great insight into the man, his empathy to the PI and love of SQZ.

ACW atb

Who would have guessed, in early November 2018 SQZ were sat at 122p.

Since then, SQZ have .....

Added circa $90m to our bank balance with cash, currently est at $125m.
Increased reserves by 8.9mmboe above that of the BKR acquisition.
Resolved Erskine operational issue with pipe blockages, now flowing at 3,200 boe/d net, (600 boe/d previously).
Reduced OpEx by 17% down to 15/boe
Exceptional strong EoY accounts.

We should be trading at least in the 150p - 170p range today if it was not for that persistent, pesky BoT imo !!

Hummmm ..... trying to deter buyers imo

Maverick7,

I would hope a deal is completed before the end of October.

atb

Same again today ....4 identical Time Stamped and Volume Qty after hours transactions are back too !!

Noted also that the 'A' bot was absent for the morning, but kicked in heavily in the afternoon, although the overall volumes were low.

Yep, up +7.7% to follow yesterday +7%

Forgot to add, the 4 identical Time Stamped and Volume Qty after hours transactions are back too !!

5x Buys Vs Sells, on OK volume and we manage a puny 2.2% rise off the back of a run of 9 loosing sessions.

The bot's still have us by the short 'n' curlies.

The RNS phrase I take away from this is :

"Parties shall conclude their negotiations of the necessary agreements AS SOON A POSSIBLE, including but not limited to a Framework Agreement and Joint Development Agreement"

The "ASAP" phrase and subsequently putting a self imposed limit of "6 months" tells me that this will move quickly, 6 months is next to no time to complete a deal.

I full expect an RNS next week to build upon this latest one.

gla

Then again NI, you have clearly never read the BKR deal documentation, otherwise you would realise what a fool you have been all this time misleading PI's ..... or worse still, you have read it and know exactly what you are doing, which is it ?

Makes no difference, the PSA is as stated for 2019 we take 50% revenue, BP et al the other 50%, this 50% are the LIABILITIES REFERENCED ON THE BALANCE SHEET including future PSA estimates ...... end of ... period. (This applies to all present and future liabilities as per PSA arrangement)

For 2020 the PSA is split 60/40 in SQZ favour, moving to 100% in favour of SQZ in 2022, guess what that does for liabilities ?

Current liabilities as stated in company account was at time of printing $20.2m, cash on hand was $109m, estimated now at c+$125m CASH ON HAND.

Since March we have added c$11m per month and paid back a proportion of the liabilities, do the maths.

Oh and $140m available in tax losses.

Have a good evening all.

Sorry,

37p/s

bankrak,

Agree..... "Hence why my opinion (and that of peel) is that this is comfortably worth around 170p..."

With Erskine averaging +3100boepd and around 47p/s held in cash, I would say we are around the valuation of that alone atm. Add in BKR and yes, we should be sitting at 150p - 170p atm imo.

ps We are adding the equivalent to 3.3p/s per month to our cash pile atm

"Can't believe market has not got hold of this yet. Should be flying....."

Need to see what the delayed trades today are like!

The great thing about RNS mid-trading, is NO gap !!!

Enjoy the ride guys.

Then again NI, you have clearly never read the BKR deal documentation, otherwise you would realise what a fool you have been all this time misleading PI's ..... or worse still, you have read it and know exactly what you are doing, which is it ?

Makes no difference, the PSA is as stated we take 50%, BP et al the other 50%, this 50% are the LIABILITIES REFERENCED ON THE BALANCE SHEET ...... end of ... period. (That's all present and future liabilities)

Current liabilities as stated in company account was at time of printing $20.2m, cash on hand was $109m, estimated now at c+$125m.

Since March we have added c$11m per month and paid back a proportion of the liabilities, do the maths

Oh and $140m available in tax losses.

Does your boss want to push the sp down further, are you having an earful from your boss ????

Sorry, my mistake, used NI negative thread, so re-posted ..... rats, means he gets paid another 50p for my post .....

-----------------------------------

Alessandro,

Thank you, It is very refreshing that for a new investor like yourself, you are easily able to find the correct information from SQZ accounts and RNS's that clearly states that ALL liabilities present and future will not cause any issue for SQZ.

Unlike NI who after months of being informed of the above by many different posters still posts utter tosh in respect of trying to hoodwink PI's into believing differently.

Thanks again.

Alessandro,

Thank you, It is very refreshing that for a new investor like yourself, you are easily able to find the correct information from SQZ accounts and RNS's that clearly states that ALL liabilities present and future will not cause any issue for SQZ.

Unlike NI who after months of being informed of the above by many different posters still posts utter tosh in respect of trying to hoodwink PI's into believing differently.

Thanks again.

Then again NI, you have clearly never read the BKR deal documentation, otherwise you would realise what a fool you have been all this time misleading PI's ..... or worse still, you have read it and know exactly what you are doing, which is it ?

Makes no difference, the PSA is as stated we take 50%, BP et al the other 50%, this 50% are the liabilities referenced on the balance sheet ...... end of ... period

Current liabilities as stated in company account was at time of printing $20.2m, cash on hand was $109m.

Since March we have added c$11m per month and paid back a proportion of the liabilities, do the maths

Oh and $140m available in tax losses.

60% of BKR production hedged at 35p/therm

Does your boss want to push the sp down further ?

JAdam,

"lol NKOTB you probably need to review that header next time you use it as it more like 7 to 8 times by now! ...."

LOL, indeed, I thought that exact though just after I posted. As you correctly suggest, SQZ are not only building net cash of $11m every month, but ALSO paying off their current liabilities monthly .... so in fact current liabilities could be covered by 10x or more at present.

atb

Then again, you have clearly never read the BKR deal documentation, otherwise you would realise what a fool you have been all this time misleading PI's ..... or worse still, you have read it and know exactly what you are doing, which is it ?

Makes no difference, the PSA is as stated we take 50%, BP et al the other 50%, this 50% are the liabilities referenced on the balance sheet ...... end of ... period

60% of BKR production hedged at 35p/therm

Does your boss want to push the sp down further ?