Member Info for SpArmada

I bought more at open and I have just added more. If you think the price is right, there is no excuse to top up despite what the market thinks.

Reminder that it is ODE AM, not IOG who runs the operations, including maintenance.

Buy the dip in IOG for a 1-2 month trade. The recent RNS is not that bad, just temporary issues that will be corrected in months.

And I agree with Contrary, you shoud look at Harbour as well. That would be my pick of the three (KIST, SQZ, HBR)

I agree, it doesn't worth it to start a dispute with insults,
and people who need to use them show how little their opinion shall care to the rest of users.

Which annoys me is that any hint of doubt about the company's operations is received as an attack by most posters, usually followed by claims that such are intented to lower the SP. When I have been suspicious of some "extra" activity around Blythe or Southwark in the past, and shared my thoughts here, every and each of the messages was welcomed as a market manipulation attempt. I think people here should be mature enough to accept some healthy skepticism about the company and its operations. Unluckily that's not the case and the situation quickly turns into a set of insults. Also, people have to learn that it is important to process things instead of going from one extreme to other, from loving to hating the company without a careful read about aspects of the business that are not very simple.

That issue I'm that layer is not new. If you look for information about that section you'll understand why the fluid loss is not such a unexpected event. The drilling fluid has 2 goals, lubrication for the drilling head and keep enough pressure on the well from collapsing. The formulation of the fluid changes along the drill and it is related to the geology of each section. This fluid loss is not a huge thing is the well integrity is not threaten. The company hasn't announced it needs to make a side track or respud the well a few meters from the first drill, which means that the problem is solvable.

Lower production guidance and higher costs are obviously related to the salinity fluids received. Let's see if they can fix.
They completed some short term hedges, only August and September, that are not very bad but they have cost some money to the company.
Let's see if the issues at Southwark can be solved, it's weird they didn't experience such problems with the other drills (that we know). I was optimistic on first gas from it in October but now I'm more pessimistic, let's see if they have it online in 2022.

Maybe they could speed up the Elland development, as it is close to Nailsworth. But their current plans are first to go for Goddard after Nailsworth.
The £1.05m/day net to IOG seems very unlikely to me, unless you mean revenue, not cashflow.

Hi robin, you forgot also taxes. Capex is 0 for phase 2, not for the rest of phase 1, e.g. completing Southwark.

Does anyone know a similar case to consider for this situation? I thought of Hurricane Energy but it wasn't a SoA. It's clear the creditors will own the company after everything is settled.

The money saved goes straight to the bottom line, including the progressive reduction of personnel needed to manage the complaints. I have added some more, as I expect to keep doing with every positive announcement.
Results should be available next week, I hope they provide more insight about the situation and the profitability of the two segments, particularly HCC without any new claim liability.

I have seen the pics in the company's website and Phil is seen welding two pipe sections. I hope he's held accountable for all the leaks on the oil and ballast tanks on the FPSO. The company should review the training process as it is clear that Mr. Corbett didn't learn well enough about maintenance operations ...

I'm waiting until the contract with Dominion or other company who takes the gas off the Paradox Basin. The drillings will take place at some point, but they make no sense without a commitment to refurbish the pipeline and connect the wells to it.

The board is a disgrace, they are sitting on £600m of cash and doing literaly nothing with it, why? Are they afraid of something? Do they believe the business is closing in a month? Aren't they able to leverage with some debt if a huge opportunity presents? Are they planning to buy HBR or BP? Give shareholders some of their own money back!

All cash at £5 ... keep dreaming ... SQZ management and board not buying its own shares at £3.5, do you expect someone comes and buys the whole company for £5 a share? I thought there were adults in these boards

Today they informed of a failed drill, with very little oil in place that could not even flow. They will wait some more time and try to get additional data before abandoning the drill. They also expect to get oil from other horizon in the same well, despite there a third horizon that is uneconomic. I'd expect another drop on this news, besides the drop after announcing the deal, will this affect the vote on the merger?

You keep embarrasing yourself, when you state that the head of IR was the master mind pulling all strings. Wow, he was then surely underpaid, he was head of IR, president and managing director at the same time ...
Did you look at the Brent and WTI price since 2020? Maybe that explains why Hurricane managed to survive without that deal you now claim as a scam. What would have happened if the oil price stayed under $60 until today?
Your personal vendetta is 100% pointless and, again, may have consequences. It is also a shame that LSE allows such harrasment on a person to go unmoderated.

SQZ sp is far from the offer price, market does not believe the transaction will be completed. When the cancellation is confirmed, I expect little movement in the SP. Also, the gas prices have risen quite a bit, the performance of Kistos and Serica reflect this as well, including the higher price of the dutch gas for Kistos.

According to my data, average NBP DA in July was ~230p/th. My guess is that gross revenue was £38.6m. After royalties and opex, the gross profit for IOG in July would be £14.4m.

My calculations also estimate that in 2023 all the Phase 1 royalty will be paid to CER.

I hope they manage to hedge part of the production for winter at current levels, it seems risky to expect there won't be something that lowers them.

I think so, particularly considering the premium over Brent, in 2020 the fields realised $56/bbl when Brent averaged $41.96/bbl, or $33/bbl after opex. And if the trasaction includes 1.5M barrels net to JSE and we use that gross profit, it would reach a minimum of $50m to JSE, but the final figure is higher as Brent in 2021 and 2022 was higher.

I'm missing how this is connected to JSE and why you want to promote a harassment campaign on a person due to a previous position. That's a very dangerous road you are following, and it may have consequences.