Member Info for NewKOTB

NI, Sorry but it is you that is missing the point by a country mile.

Non current are to be paid out of BKR future revenue and as such the higher the liabilities the higher the revenue and profits for SQZ.

I would like to see over a billion in liabilities as this would mean massive profits being realized via our BKR assets. So the higher the liabilities the better for SQZ, SIMPLE is it not !!!!

Once again, you fail to recognize that the non-current are purely forecasts and not set in stone, but are performance drive via our assets. The better the performance the greater the profits and hence the share of revenue to BP as our future liabilities. Likewise lower revenue lower liabilities. Swings and roundabouts, all covered by the production sharing agreement which dictates our liabilities.

You should take some time to understand the BKR deal structure, it's all there in the documents I have linked for you on numerous occasions, but once again fail to accept, even though it's a legally binding document.

Once your trading desk has had it's fill you will disappear until the next time spouting the same rubbish over and over again.

To end this charade, show me where these $430m are fixed amounts to be paid and are non-variable within the BKR transaction document ..... they arn't and you know this and no doubt will continue to peddle false idea that they are.

N/M

NI, the correlation between your appearance and our SP performance is clear to see.

Regal have cash of $68m with current liabilities if $10m, leaving $58m

SQZ have cash of $112m with current liabilities of $20m leaving $92m

The figure you quote is purely for accounting purpose and dose not reflect SQZ actual future liabilities as you well know.

You really are boring me now .... you refuse to understand the basics of accounting and how the BKR deal is structured and how it address this issue.

You work for a pro trading desk and as such under the boards T&C's should be banned from LSE trying to undermine a company for your own collective gains imo

ATB

SoS,

Mitch in his presentation addressed this question exactly, might be worth you taking a moment to watch it. It's in the Q&A at the end.

https://www.sharesmagazine.co.uk/video/serica-energy-mitch-flegg-ceo

regards

See that NI's is now pushing, that taking on debt and increased liabilities over on the RPT board, is a GOOD IDEA .... lol

NI's post "Regal is the stronger business with a far less complicated structure and able to execute a large acquisition - either outright or going even bigger by financing some with debt ....."

Now, remind me how SQZ made their transformational BKR deal work !!!

Correction

2018 Operating profits to be blown out of the water imo

2019 Operating profits to be blown out of the water imo.

As a very rough estimate I would say that x10 or 1000% increase is not unrealistic for 2019 figures imo

That's around $100m operating profit as we are adding circa +$11m per month CASH atm

SQZ's current liabilities as detailed in our recent accounts comprises of JUST $20.2m, so SQZ have these covered by 6 times cash atm and adding $11m per month our CASH to liabilities ratio is improving daily. Remember, SQZ have no real CapEX for 2019. All non-current liabilities are fully covered as per BKR production sharing agreement.

Point that NI is clearly missing ( DELIBERATELY IMO) is that ALL non-current liabilities are fully covered as per BKR production sharing agreement. These are also tired into production performance and as such the quotes figure by NI has no relevance as this is purely an accounting exercise base on projections. What he is also missing is the higher the future BKR 'liabilities' is actually great news for SQZ, as it means a higher revenue and profits for SQZ.

SQZ have stated in their accounts that all current liabilities will be covered (paid back) during 2019.

All the financial information contained in this post has been freely available via SQZ accounts and other official documentation since 2017. SQZ are a professional outfit, that are fully open and transparent with their accounts unlike many AIM compaines. Try and get the same operational and financial details that SQZ provide that's easily accessible from someone like Regal ..... LOL

Current and real liabilities are full covered by 6x time cash, period !!!
All non-current liabilities are more than fully covered as per BKR production sharing agreement, period !!!

NI, YOU really are trying to miss-lead the reader imo

regards

SQZ's current liabilities as detailed in our recent accounts comprises of JUST $20.2m, so SQZ have these covered by 6 times cash atm and adding $11m per month our CASH to liabilities ratio is improving daily. Remember, SQZ have no real CapEX for 2019. All non-current liabilities are fully covered as per BKR production sharing agreement.

Point that NI is clearly missing ( DELIBERATELY IMO) is that ALL non-current liabilities are fully covered as per BKR production sharing agreement. These are also tired into production performance and as such the quotes figure by NI has no relevance as this is purely an accounting exercise base on projections. What he is also missing is the higher the future BKR 'liabilities' is actually great news for SQZ, as it means a higher revenue and profits for SQZ.

Current and real liabilities are full covered by 6x time cash, period !!!
All non-current liabilities are fully covered as per BKR production sharing agreement., period !!!

regards

JAdam,

Morning, NI is clearly working for a broker / trading house and as such breaks LSE's T&C's that states "By using this website you are agreeing that at all times you will be acting as a Private Investor".
Just need to review his posting history, BIDS etc to build a clearer picture of NI's modus operandi

atb

Regal operate purely in the Ukrainian with Putin knocking on their door and wanting to enter at anytime, not a particular stable region compared to the NS imo.

Regal also are currently being challenged by the Ukrainian authorities with their VAS Licence under suspension and their legal entitlement to said licence.

Regal have approximately 40% of their cash in locked into Ukrainian Hryvnia. With an additional 15% stuck in Ukrainian Government bonds. Leaving less than 50% of cash in US dollars. So this takes you 10x to less than 5x. So SQZ are in fact in a much better position regarding current liabilities.

SQZ's current liabilities as detailed in our recent accounts comprises of JUST $20.2m, so SQZ have these covered by 6 times cash atm and adding $11m per month our CASH to liabilities ratio is improving daily. Remember, SQZ have no real CapEX for 2019. All non-current liabilities are fully covered as per BKR production sharing agreement.

regards

"Was the same pattern seen pre BKR deal? ...."

Not that I recall, although the BKR deal I believe caught the market on the hop. A deal was expected, but at no where near the 'transformational' size as the one announce for BKR.

SQZ have publicly stated that they would love to do a deal to double the size of the company. So you can draw your own conclusion !

atb

IANAA,

"but it's a long time it wait, if things were 'going' it could be on to paying for itself now - meaning no net cash loss,..."

That's why I think it's not cash related but more to do with throwing manpower at it, manpower that is needed elsewhere, ie due diligence completion.

atb

Dilberty,

Welcome, the SP has been as is still, actively managed by 'A' trades that make up +90% of the daily trades. It has been this way for well over 12 months now. To me, this indicates that SQZ has value.

gl

SQZ's current liabilities as detailed in our recent accounts comprises of JUST $20.2m, so SQZ have these covered by 6 times cash atm and adding $11m per month our CASH to liabilities ratio is improving daily. Remember, SQZ have no real CapEX for 2019. All non-current liabilities are covered as per BKR production sharing agreement.

regards

IANAA,

"I still can't quite understand why they can't just inspect then intervene quickly...it wasn't headlined as anything too complex and the outcome is free money!....."

Agree, especially as at a recent shareholder meet 'n' greet presentation Mitch stated that R3 would commence Q2/19 (15:10) now pushed back to mid Q3/19. My guess is something has superseded this in SQZ priority ranking as hinted at 20:30 min into the presentation.

https://www.sharesmagazine.co.uk/video/serica-energy-mitch-flegg-ceo

I think another deal is in the offering hence NI's obsession with SQZ atm. Could just be SQZ need resources focused on the 'deal' rather than R3 for the time being. The fact that August has now been stated tells me that what ever has delayed R3 will be wound up soon. How about 15th/16th July !!
gla
aimo

IANAA,

Hi, the intervention may have been pushed back but the works as per ANNUAL GENERAL MEETING presentation dated 27 June 2019 states "inspection and diagnostic work on R3 planned to commence in August 2019"

atb

Sorry, should of made it clear that the 2P reserves that have increased to 5.7 million if purely for Erskine alone.

We have 2P of 68.8mmboe, with the increase is due to improved efficiency so this will be increased too