Member Info for NoQuestionMarks

Regardless of whether it is Exploration or Appraisal the drill or drop decision is due in September.
From Serica's results.
"Skerryvore and Ruvaal– Blocks 30/12c (part), 30/13c (split), 30/17h, 30/18c and 30/19c
(part), Serica Energy (UK) Limited: 20% working interest, operator Parkmead
The Skerryvore and Ruvaal prospects lie in the Central North Sea, 60km south of the
Erskine field. Potential for both sandstone and chalk reservoirs has been identified.
Over 500km2 of 3D seismic data was purchased over the licence areas. However, the
company contracted to reprocess the data, enhancing it prior to interpretation, was
unable to deliver the dataset in the agreed timescale. That meant it was not possible to
undertake the necessary work programme in time to make a drill or drop decision by the
end of the initial three-year term, in September 2021. An extension application was
therefore submitted to the Oil and Gas Authority and a drill or drop decision is now due
by September 2022."

The party is over for PMG.
The EU will set a price cap on gas, the UK will follow (in my opinion)
If only they had gone with Platypus, they could have caught this spike with meaningful volumes of gas going to market.
Tom dropped a right clanger there.
robs12 is correct in everything he writes, I suggest you listen to him.
Serica think Skerryvore is an exploration well but Tom says to SOTB that the oil is there.
Who are you going to believe?
"The German economy minister Robert Habeck said he expected gas prices to fall soon as Germany, Europe’s largest gas consumer, was making progress on its storage targets and would not have to pay the high asking prices to continue replenishing stocks.
Habeck also reportedly told other European energy ministers that Germany is willing to consider a European price cap on gas, a measure it has previously argued against."

https://www.serica-energy.com/exploration-UKCNS

Are you suggesting that the UK will keep electricity prices pegged to gas prices?
UK citizens paying mulitiples of what EU citizens are paying...
No political party would go for that IMO

New Kid
I started buying SQZ at 20p and then bought right down to 5p.
Sold out at 85p
Bought back in during covid at 76p and sold out almost all at 130p.
I still have a holding and have made plenty from SQZ.
No need to be nasty.

Just when it was getting exciting! It had to come eventually I suppose.
BRUSSELS, Aug 30 (Reuters) - The European Union is drafting emergency plans to intervene in its energy market, as pressure grows from member states to put a lid on the surging price of electricity.
European Commission chief Ursula von der Leyen said on Monday Brussels was preparing an intervention to separate power prices from the soaring cost of gas, as well as longer-term reforms to ensure electricity prices reflected cheaper renewable energy

It might be time to take some chips off the table, the 6% drop today indicates the market thinks so.

BRUSSELS, Aug 30 (Reuters) - The European Union is drafting emergency plans to intervene in its energy market, as pressure grows from member states to put a lid on the surging price of electricity.
European Commission chief Ursula von der Leyen said on Monday Brussels was preparing an intervention to separate power prices from the soaring cost of gas, as well as longer-term reforms to ensure electricity prices reflected cheaper renewable energy.

A reduction in net debt of $342m in just six months got my attention.
A net debt to EBITDA ratio of 1.0 and total net debt of $880m looks manageable to me.
The anti fossil fuel bods will have their pound of flesh, but should still leave plenty of meat on the bones for the company.
Would the greens really chop off their own arms and legs? Yes, I think they would.
Will the British people allow them to do it? Absolutely not.
The more oil and gas we produce the stronger influence we have.
Germany reliance on imported gas has shown how even their economy can be fractured overnight.
Hopefully, We don't follow in their footsteps.
I'm in

The basis of the litigation seems to revolve around the question of whether a Ranitidine tablet produces elevated levels of NDMA if stored at high temperatures.
What I have not read is what is meant by a high temperature? Has anybody read what the threshold is?
I have sourced a Zantac patient leaflet from 2013 that states that tablets should be stored at a temperature below 30degC, syrup below 25degC and Zantac for injection autoclaved at below 25degC.
If anyone can point to the high temperature threshold value used in the litigation I would be very grateful for a link.
ATB

Tribeca- Sydney based.
Come on we've been shafted.
A placing at 10p would have been cheap.
A placing at 8.1p is taking the urine.
I expect another 300 to 400m shares to be issued.
On the bright side, we might just be financed to production if Newcrest don't start dragging their feet.
I suspect they will though:(

PMG's last remaining licence in the southern north sea is to be relinquished at the end of September.

"Deltic has been informed by the Operator, The Parkmead Group, that a farm out partner could not be found to assist in the maturation of the Blackadder prospect, and that a positive well investment decision could not be taken within the current licence timelines. There are a number of technical challenges with the Blackadder prospect, including inadequate seismic image quality associated with the legacy datasets and a structurally complex setting. The Operator has recommended that the licence be relinquished and the NSTA has been informed that the partnership intends to relinquish the licence at the end of the current licence term on 30 September. "

GGP have been on the ball in
A. Discovering Havieron.
B. Producing an updated MRE that turned out to be within a couple of percent of Newcrest's.
So, I will take their $85m valuation for 5% at face value, their record speaks for itself.
9.7p gives us a market cap of £408m or thereabouts.
Extrapolating the $85m for 5% to our 30% gives a value for Havieron at the time they made the offer of $510m.
$510m = £430m.
So, we can buy at less than the value GGP put on Havieron several months ago
Indications from GGP are that the resource continues to grow and we have all the other tenements for free.
Hopefully some director buys feed through and then the biggie financing.
I added today and will continue to do so if we fall further.
ATB.

It's odd. The results are received well with a 5-10% bounce on the day but then it slides.
I am back in today at 268p.

By their own estimates GGP need to raise US$105m to cover the upfront costs.
Plus whatever portion of the US$50m loan has been drawn.
NCM said the first ore date is under review and that inflation is pushing up costs.
Until GGP raise US$150 - US$200m of Reserved based lending the share price is only going one way, and that is down.
Holding and will add if we fall to single digits.

No, definitely not, the trenches is the wisest place to be at the moment.
To turn down the offer from Unilever was just about the silliest decision one could make. I held ULVR at the time and immediately sold out on the rumour, I just assumed GSK would bite their hands off.
GSK could have wiped out debt and gone forward with a healthy cash balance.
Sure, the litigation would still be there, but GSK would now be in a much healthier position to defend themselves.

Not as financially stretched as us though.
If you include the contingency we have to find US$155m.
US$105m for upfront costs and US$50m to pay back the Newcrest loan (when/if fully drawn.

If you exclude the contingency we still have to find US$135.8m.

NCM stated in their results that the schedule for first ore is under review and will be updated in the FS.
They mention inflationary pressures on future capex and operating costs which leads me to believe that the contingency will be needed.
NCM (In my opinion) will try to financially stretch us as much as possible, not to the point where it is detrimental to themselves but just enough to distress our balance sheet.
I think GGP need to be looking at a RBL credit facility in the region of US$200m.

What do you think Bamps?

It has been reported that four generic drugmakers paid a combined settlement of $500,000 to Mr Bayer before he moved for voluntary dismissal (link below)
In GSK's statement on the 11th of August it states that Generics, retailers and packagers have been dismissed from the US product liability litigation MDL cases.
As a casual observer it would appear to me that GSK and Sanofi (British and French) are in danger of becoming increasingly isolated against a wall of cases
https://www.fiercepharma.com/pharma/opening-round-zantac-litigation-gsk-scores-decisive-win

Jet2 were the only UK airline not to cancel a flight in July.
This was achieved during a month which saw Jet2.com kick off its biggest ever summer programme. July also saw the busiest weekend in the company’s history, when Jet2.com operated over 800 flights on the weekend of 23rd/24th July alone.
https://www.jet2.com/news/2022/08/OAG_Data_Jet2_com_the_only_UK_airline_not_to_cancel_a_single_flight_in_July_

https://www.oag.com/en/on-time-performance-airlines-july-2022

In an earlier post somebody wrote in response to zoros, "You make no explanation of why the SP rose to 37p"
In my opinion it rose to 37p due to investor greed. Investors saw pound signs, ignored the fundamentals and piled in regardless.
At 37p the company would have been approaching a £2 billion market cap.... that was way out of whack with where GGP were at the time and despite the huge strides we have made is still way out of whack with where we are now, in my opinion.
A share price of 11p-12p is about right for where we are in my estimation.
I will add more at under 10p, if it never goes there I am happy with my holding for now.
We have all made mistakes, the only way we improve is to admit them and learn from them.

Sooner or later SAG is going to pop,.

· Record H1 results, slightly ahead of the Board's expectations
· Revenue growth of 10% to £44.8m (H1 2021: £40.7m)
· Adjusted* operating profit increased by 22% to £8.8m (H1 2021: £7.3m)
· Adjusted* basic EPS growth of 10% to 14.6 pence (H1 2021: 13.3 pence)
· The Group continues to actively manage its strategic investment in TP Group
· Balance sheet remains very strong with Group cash of £38.6m and net funds of £23.9m (H1 2021: £29.0m and £13.0m)
· On track for another record year in 2022, despite the deteriorating economic outlook, with Science Group benefitting from sector diversification and a strong US Dollar.

The S&P 500 recorded its worst half-year since 1970, the Dow had its largest first-half drop since 1962 and the Nasdaq had its largest percentage drop ever.
Sobering stats