focusIR May 2024 Investor Webinar: Blue Whale, Kavango, Taseko Mines & CQS Natural Resources. Catch up with the webinar here.
Good to have the workings of the GSA but what am I missing?
$70 a barrel x 0.1 + 0.5 = $7.50
Or
$100 a barrel x 0.04 + 4.5 = $8.5
Or $40 a barrel x 0.04 + 3.5 = $5.1
Have I over simplified and missed something out - which is what I think I have done!!
Still good to have sight and it is probably aimed at other eyes than us PI's
SpencerHughes100 - There is only one true and honest answer to your question and that is -
Hand it to.the selling brokers and lawyers to go through all the offer documents.... That'll teach us for wanting to make a profit!!!!!
Thanks D2,
I have just found a schlumberger reference that sat up to 73 metres a minute.
SLB have led the CT revolution so I now think that there are different grades of CT so.if we have the latest technology version this could explain the delay maybe.
For me now the time for any results is dictated by how long they leave pressure to build up for unstimulated to test and then for stimulated.
Exciting times me thinks.
A quick question for those that may know.
At TE-10 we have a hole in the ground that has pipes going down into it.
We are now going to put the coiled tubing into those pipes and the coiled tubing is like a glorified and very technical hose pipe in my mind - probably wrong!!
Surely the lowering of the coiled tubing is a fairly quick hit?
I know I am probably over simplifying. Is all the time spent based on simply measuring beyond this?
GLA
The link below had some interesting views which I think has both good and not so good headlines for us...
https://www2.deloitte.com/us/en/pages/energy-and-resources/articles/oil-and-gas-mergers-and-acquisitions.html
GLA and thanks for some very interesting posts.
Great article in the Times yesterday about Shell including First Utility and Shell's goals in the next 11 years. Very bullish.
She'll bought First Utility in 2017 and are only now changing the company title.
Shell I suspect have a huge budget to.meet their goals.
Good news today.
SC
There is a simple answer to all of this which would achieve all of what everyone wants.
Sound (current) announces a spin off into Sound newco in a 1 for 1 basis moving Sidi into newco it. Launches new company and tax efficient.
Then sound (current) is sold thus no need for any dividends just takeover by purchaser with cash or stock or combination. Tax efficient again.
Sound Newco then raises funds via a small rights issue.
What the above would do is make the price rise in the build up to the corporate action and launch the new company with an inherent value which would not devalue the company that is to be sold as we would know about negotiations and offers at that point.
If I were a meerkat I would be saying "simples" now.
Have great weekends all.
SC
JTF - very balanced post with lots of very interesting observations which could all be true.
My personal thoughts after a brief discussion with JP and JJ is that the primary target is still a company sale. The Newco has been set up partly to prepare for a contingent sale.
I think the legal framework around a contingent sale would be very involved and very much dependent on who the buyer is.
Finally and I may be remembering this wrongly and I didn't discuss last week but I also think that SM still has 2 possible farm in partner possibilities which we couldn't be told the names of due to their interest in our portfolio.
JP made it very clear in a chat I had with him at BB that the target is still to sell the company outright.
I did question him if it was a contingent sale how would that work and is Newco set up in case?
I don't think he gave me a conclusive answer but I got the feeling it was a yes and that how it would work was dependent on many things not least the viability and size of the purchaser.
Also I personally think it would be short sighted not to prepare for every eventuality.
I think all this points to a relatively short timeline if TE10 delivers... which I think the board know it will.
Hi ps200306,
I agree with what you say but counter that many would pay a premium to secure the opportunity.
To me the economics are the same as someone paying over the asking price for a house. That analogy would be even more relevant in what I believe happens in the Scottish offers over system.
The B&B event was my first Sound event in the 6 years or so of ownership. I bought just before the consolidation at 0.9 p a share but have added at many points taking my small holding to an average price of 60p
My main headlines would be.
1. Board pushed and challenged a lot but at no point looked irked or uncomfortable. Couldn't answer all points.
2. Quick chat with James and there was a lot of clarity in his answers including clear indication that he expected to be here through LE but if the course changed dramatically it may be under the stewardship of another.
3. JJ comprehensive that financially we are in a strong position . TE10 came in a little under budget.
4. Equipment and chipping resources are in short supply globally which slowed us down. It is easy to be suspicious of this but if we think about how much has is being searched for globally this does ring true to me.
Personally I think we won't drill TE11 and we will be sold in the short term.
It was great to meet so many investors and thank you all for your time, views and conversations.
If pushed I would think between 3 and 5 pounds is easily achievable if we get the expected news from TE10.
(3.5 -5.5bln pounds is not a lot to some of the giants.) I do think we have a range of companies that have expressed an interest although this is partially conjecture on my part.
GLA
Great posts BF very detailed and thought provoking.
Are the RSU's not simply capped at that number rather than a target?
In my experience company's always get higher levels of detail in their company terms and conditions than will ever be met whether it is structurally based or remuneration based.
Looking forward to Thursday.
Best wishes
SC
Not that I will be able to get there in time but the big in the pound outside Bond Street tube is a good place to meet for those arriving early on Thursday.
See those attending at Balls Brothers.
Safe journeys to all those travelling to London
GLA SC
Personally I think this more about what isn't said than what is. Clearly the deciphering of this leads to conclusions that are miles apart.
Mine are as follows
Another duck lined up.
Suitors are likely to have visibility through the data room which adds a calculation metric for them
Add this to no movement on TE11 as nobody thinks management bandwidth as a true reason for delay.
Not sure these shares will be around in July...
Looking forward to meeting those attending next week at my first event.
Good luck all