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From memory I think it was a case of Serica paying an increased amount if the R3 well which was due to be completed by BP prior to the transaction performed as expected. In the event they didnt do the completion so the deffered fee didnt materialise. A successful recompletion will help maintain and hopefully a tangible increase field production.

Nice that the well will be fully completed in 2020.
"Awilco Drilling PLC is pleased to confirm that a contract has been signed with Serica Energy (UK) Limited for the provision of WilPhoenix for a one well workover on the Rhum field. The contract has an estimated duration of 70 days including preparatory works and will commence around 15 September 2020. WilPhoenix is expected to be available for future work from early December 2020"

Its good to see this heading in the right direction, long may it continue.

If they can get the debt situation resolved, this will fly as all the other metrics are positive increasing production, will hopefully lead to lower costs /tonne and prices have now hopefully stabilised. The sooner we hear about the debt restructuring the better as this will just drift (in my opinion). A top up opportunity for the brave maybe!

Just nice to see the share price start to the climb to get back to fair value.

Well that was a very upbeat market update, all going to plan and moving in the right direction expansion of production has been timed to perfection

Looks like they are investigating bringing the drill of the North Eigg prospect forward if possible, maybe tie it in after the Columbus well. If North Eigg has commercial quantities of gas it will have numerous benefits to life of assets, reserves etc, so well worth pulling forward if the geology stacks up and with the data from Rhum they should have a good handle on that! All looking good

Another required piece for the Zama sale is concluded
For Info;
https://www.oilfieldtechnology.com/offshore-and-subsea/09012020/talos-energy-completes-resource-evaluation-of-zama-discovery/

Well it does seem to want to climb back into the 3p zone, we have had a few weeks of a nice steady rise, long may it continue. Its been said many times before but maybe, just maybe, next year could be the year!

I'm hoping today's the day we push through the 30p barrier, everything seems to be moving in the right direction.

The interim's do underline the importance of the refinancing, and its clear that the remaining debt needs to be whittled down as the iodine price is on the rise, all in all very happy to hold as the picture improves further over the next six months or so.

Nice to see this get above 25p, I will be happy if it can hold above this and consolidate before it moves on to the interim results. All looking good atm.

The LSE site isn't showing the correct price for some reason, I think its just a case of patience the interim's should be another improvement , the price will rise when more people appreciate the potential

We are building a platform and gas pipeline next door to the appraisal well so it would be very helpful if we found more gas!!

Thank you for your calculations JAdam. The only other adjustment we will need to account for are the stage payments that are due this year, and I must admit I've got a little fuzzy over which sums and how much is due in 2019, does anyone have the figures to hand?

it would be nice to stay above 10p now!

Well thats a liittle bit more detail "Inspection work on R3 will commence in Q2 2019"

Something else to look forward to on the years positive news flow

I wonder if as part of our acquisition strategy we are running the ruler over Chevrons stake in Erskine, makes sense to me, if the price is right.

Yes looking to the future, it all seems amazing. If ( and its a big if) we can maintain the current production rates even without Rhum 3 our 2019 production will be over 50% higher than 2018, and with a lot of fixed costs our profit levels will go through the roof!

There's a new video and presentation on the Serica website that's well worth a watch, we have Begun our acquisition programme!