Member Info for NewKOTB

Never seen so many single, 1 share BoT trades happen, been relentless throughout the day.

With CFO in charge we could be looking to strengthen our balance sheet !

So yet again .... we have another very very late trade, for over £80k, that's 5 days running same MO

Date Time Trade Prc Volume Buy/Sell Bid Ask Value
20-May-19 17:43:39 134.857 66,681 Sell* 135.40 138.00 £89.92k O

Still strong demand

So we have another very very late trade, for over £80k, that's 4 days running same MO

Date Time Trade Prc Volume Buy/Sell Bid Ask Value
17-May-19 17:44:42 130.947 66,681 Sell* 132.40 134.80 £87.32k O

There appears to be a sudden urgency this week as the SP continues to rise !!!

NB We also had 4 x +£10k late trades reported, same as past 2 days .... getting interesting.

gla

Oh, forgot to mention that we could end up with all our liabilities reduced to zero. If by some small chance gas prices continue to fall, BP will PAY SQZ !!!!! That's how good a deal BKR really was ......

Extract from BKR deal document:

No amounts are payable by Serica UK unless this cash flow is positive and amounts are repayable to Serica UK in the event of negative cash flow, up to the amount of prior payments made to BP in the same year.

So, we had our financials only 4 weeks ago ....

Our balance sheet shows net assets of $117m with know Financial liabilities due to the deferred structure of the BKR deal, to be paid from receivables leaving a net positive cash flow over the NEXT 3 YEARS.

BKR Deal Structured to mitigate financial risk:

o Bulk of consideration deferred and contingent (ie our liabilities)
o Future payments linked to the performance of the BKR Assets, allowing both parties to share the benefits of improving field recoveries and production efficiencies
o The BKR Assets are predominantly gas assets. Gas sales arrangements include price hedging to further mitigate risk

NI you really are making mountain out of a molehill here.

For details on this please see p99 point 22

https://www.serica-energy.com/downloads/reports/2018-16-April-FINAL-ANNUAL-REPORT-AND-ACCOUNTS.pdf

So we have ...

60% of BKR hedged at 35p/therm.
Brent up 40% on year.
BKR Production up 20% since deal completion.
Share of production up 25% since Jan 2019
Erskine back online and producing above expectations.
Tax pool of > $139m
Cash on hand >$105m and growing daily at an amazing rate.
2P at >68mmboe

Dam it !!!!, done it again, used his thread in my last post ... must stop doing that.

60% BKR hedged at 35p/therm for 2019.

Bangrak correctly stated earlier this week about our 'liabilities' in response to your 'concerns' which come hand in hand with the BKR deal and are price and volume related. Without the deal we would of course have no BKR, hence no liabilities, its the way the deal was structure and the market is fully aware of SQZ 'liabilities' and their dependencies. Full details can be found in the BKR transaction document and our latest accounts.

"NI these liabilities you mention are projected payments related to the BKR deal, they are estimated, $94.8 million is estimated to fall due under the net cash flow sharing arrangements over the course of 2019. The rest is for future payments, again these are not exact and are related to prices and volumes.

Estimated & net cash flow are key here and so is the cash going up $36.9m in 3 months..."

"Alot of gas was needed in Morocco, so was that a lie?..."

It is needed and that is why Morocco is to build an LNG port and terminal, due to lack if infrastructure bottle gas will be a big market for some years to come. Hence why I mentioned months ago we should bottle it alongside our pipeline supplying local customers to maximise sales. How hard can that be !!!

Shakey,

Why would it not be possible.

They could create a company with joint ownership. Use Waha eye 'n' ears on our board to become effectively an activist investor. Transfer share-ownership into said company, then go hostile as this will not require BoD approve of the transaction.

Job Done !

PS Mcap now a little over £50m, payback on this for an acquirer once SD is up and running will be rapid. Hence T/O before year end and SD is up an running imo.

Shakey,

SDX will be taken out well before SD is online, without a doubt.

aimo

"PW end up working where?.."

At SDX SPV Ltd aka Waha Capital, this who saga has been engineered for the past 18 months imo.

Who will eventually own SDX by the end of this year imo

No guessing where he will end up working for then .....

Total corruption imo

Gas price took a tumble today so I guess the little fracker will be back tomorrow as he's probably needed for his shift in McDonald's this evening.

Can not see Cuadrilla doing much drilling atm. “Fracking is such a fragile industry that it is not hard to make it go bust.”

So we have another very very late trade, for over £80k, that's 3 days running same MO

Date Time Trade Prc Volume Buy/Sell Bid Ask Value
16-May-19 17:43:15 131.088 67,049 Buy* 129.00 131.0087 £89k O

There appears to be a sudden urgency !!!

gla

On the bell ... code 1

Date Time Trade Prc Volume Buy/Sell Bid Ask Value
15-May-19 16:29:55 130.80 1 Sell* 130.80 133.40 £1.31 A

190p tomorrow it is then !!!!

As far as today was concerned from a tricky start the SP's strength won through. Guess we have a decent buyer in the background, makes a change.

Vol Sold 329,347
Vol Bought 132,384

Have a good evening all.

aimo

Confidence buy.... !

14-May-19 11:56:23 127.40 46,003 Buy* 126.80 128.00 £58.61k O

Quick fire bot trades to suppress the rise ...

14-May-19 09:29:20 123.401,019Sell* 123.20124.60 1,257A
14-May-19 09:29:20 123.40840Sell* 123.20124.60 1,037A
14-May-19 09:29:20 123.4059Sell* 123.20124.60 72.81A
14-May-19 09:29:20 123.40784Sell* 123.20124.60 967.46A
14-May-19 09:29:19 123.40131Sell* 123.40124.60 161.65A
14-May-19 09:29:19 123.40126Sell* 123.40124.80 155.48A
14-May-19 09:29:19 123.403,258Sell* 123.40124.80 4,020A
14-May-19 09:29:19 123.6075Sell* 123.40125.00 92.70A
14-May-19 09:29:17 123.60859Sell* 123.40125.00 1,062A
14-May-19 09:29:17 123.601,149Sell* 123.60125.00 1,420A
14-May-19 09:29:17 123.601,376Sell* 123.60125.00 1,701A
14-May-19 09:29:17 123.602,420Sell* 123.60125.00 2,991A

bangrak,

Please don't use his tread, just spreads his negativity even more..... easy to do, I know.

You are absolutely correct, but that will not stop NI spouting negativity ....

Have a good evening.

atb

"So, I ask you again NI, what liabilities are you spouting on about and where's your proof...."

"on the NEW cash LIABILITIES...." you are harking on about

So, just as I thought, NI ... scaremongering, there are NO new liabilities....

As I have mentioned before, all there in our accounts afaic, as SQZ are legally required to do.

PS See you are still enjoying yourself frightening investors our of their cash on other boards, what a gent !!

PPS What's the rate now, 50p per post on your created thread of course, otherwise you will not get paid, has to be your thread, does it not ! ..... yes my generosity (error) of posting has enabled you to earn a whole £1 today.