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Contrary - I agree in part with your analysis; but i'd strongly suspect SQZ played no part in the initial discussions. TCW and Mitch Flegg are "under the radar" kind of guys; growing the business through shrewd dealmaking & tactical drilling. They have been amply rewarded for their Nat Gas focus.
I see the counter-offer for KIST as a "bite back" and I feel in no way did SQZ court a merger.
Don't know for sure - but as a LTH of SQZ since 29p & RRE/KIST since inception i've a decent feel for the respective players here.
Neavo excellent analysis - agree for all these reasons. Personally i'm not arsed about no SQZ deal. I'd rather pursue distressed / strategic disposal assets. Not the top quality / top price asset of SQZ. Buy low / sell high worked super well upto now - if you buy high need to "sell higher" to make £££. AA in a hurry but assets will come to him don't need to push it. But i've 56k shares from 120- so he is my hero; off the back of RRE in at £4.50 ave held until acquired. Compounding at it's absolute best.
Who knows - but IMO not markedly. Sure will be a softening. SP was around these levels well before the takeover offer. KIST is making c. €1.5m pure profit PER DAY & isn't part of the UK windfall tax. Considering it's August - and Putin uses NAt Gas as a political weapon; the best business to be in is the EU & UK Energy supply business. The global market will be super tight in winter & KIST and SQZ will be making money for fun.
So the huge spike in volume between 8-10am this morning tells me that the paperwork has been completed for the Victory sale & those in the know have taken advantage. Expect an RNS to be logged with the LSE (real one not this site) this afternoon; could possibly lead to another little vol spike & news tomorrow. As no corresponding spike in UJO can only be Victory related (bearing in mind ROM in deep sleep mode & US mickey mouse £££).
So from the RNS of both KIST & SQZ in July; today at 5pm is the deadline for clarification of bid or no bid
As announced by Serica on 12 July 2022, in accordance with Rule 2.6(a) of the Code, Serica is required, by not later than 5.00 p.m. on 9 August 2022, to either announce a firm intention to make an offer for Kistos in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Kistos, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code. There is no certainty that an offer will be made for Kistos, or as to the terms of an offer were it to be made.
Expecting an RNS today.
So from the RNS of both KIST & SQZ in July; today at 5pm is the deadline for clarification of bid or no bid
As announced by Serica on 12 July 2022, in accordance with Rule 2.6(a) of the Code, Serica is required, by not later than 5.00 p.m. on 9 August 2022, to either announce a firm intention to make an offer for Kistos in accordance with Rule 2.7 of the Code or announce that it does not intend to make an offer for Kistos, in which case the announcement will be treated as a statement to which Rule 2.8 of the Code applies. This deadline can be extended with the consent of the Panel on Takeovers and Mergers in accordance with Rule 2.6(c) of the Code. There is no certainty that an offer will be made for Kistos, or as to the terms of an offer were it to be made.
Expecting an RNS today.
As a LTH here - had concerns yesterday (Wed 25th) with the large volume that a negative result had been leaked; considering the transformational nature of the Copernicus wildcat drill both stand-alone & as a play-opener.
But nothing has happened and today's volume is 0 as i type this.
Copernicus is a wildcat & the drilling programme has exceeded expectations to date. And with the 2 new additions things look pretty bright for LBE with/without this drill coming in.
https://twitter.com/Brobberspam1/status/1445381856074125315?s=19
Yes I've an IG account. I've a SB long running. There was an issue with the xdiv date last wk. GKP didn't announce the actual dividend amount until the RNS Friday. I only received the divi readjustment yesterday (Mon 27th). I'd advice live chat them they are compenent guys will help.
Sadly Scriven - been a succession of underwhelming news since the mammoth raise. So unsurprising. Coupled with Humber (Lang) selling down aggressively post 16.67% acquisition paid for in RBD stock. There's been zero. And I mean zero price catalysts. ii's aren't buying here as they positioned with the placings. Pi's been so burned with AIM O&G pre-cashflow failures & likes of HUR. Sadly RBD needs a lot of conviction to hold. V tough hold. But the fundamentals haven't changed here. I rarely post here as its 1) Occupied by paid/naked derampers & 2) Kindergarten hr from 9am to 5pm. Sad to see.
Tesco have just emailed all of their relevant suppliers saying the CF Fertilizer plants at Billingham & Ince have shut down as it is uneconomic for them to produce Fertilizer products due to the Nat Gas spot price. It's their main raw material. These 2 plants manufacture 60% of all UK Fertilizer.
Indeed Paul. And a company doesn't need these staff to hold 7 Non-operated minority positions within drill prospects. Tells me they are gearing up for production acquisition(s). Ultimately only around 25% of raised cash will be used for drilling due to the payback from NO tax system. Ultimately that was one of the major attractions to invest here in 2019, the NO tax system rebating drills.
They are hiding /ignoring nothing. Paid "chip chip" deramping sowing little seeds in weak investors minds.
29.7.21 ADX "Quarterly Activities Report" states "The Iecea Mare production license located within the Parta exploration license is currently undergoing a detailed review also based on a reprocessed 3D seismic dataset. In addition to the potentially large IMIC-1 well updip potential of the tested PAIV gas reservoir, several perforation, sidetrack and infill opportunities within the existing oil and gas discoveries of the production license have been identified and mapped in detail. During the coming quarter, resource estimates and economic analysis will be completed.
And in the Roadhouses Resources it clearly states the Parta Expo License on Page 6 "Asset Summary". https://adx-energy.com/investor-centre/presentations/