Member Info for Subsea

Possible factors I'm guessing would be depending on which major is involved, whether any drilling rigs are already booked and not forgetting updates on other major UK or Ireland assets.

Last year's AGM was end of November so maybe an announcement for both in the same RNS. Here's hoping. My spidey senses are tingling!

From EOG site "The prospects are covered with 3D seismic and lie in approximately 80m of water"

Nice to see Mermaid getting a gig there and Ideal for utilising saturation divers and or ROV at this depth.

Warren Buffett: "The stock market is a device for transferring money from the impatient to the patient."

This also looks new, I'm sure that the original combined COS was 80% but now saying 90%!

"Volumes across the three identified prospects are estimated at mean prospective resources of 1.3 TCFE (this figure includes the gas and liquids). Together, these three prospects when combined provide over a 90% chance of finding a commercial discovery and, as such, this is a high quality, low risk and high reward asset in shallow water with modest well costs."

Want to be out over the weekend!

Exactly, she cannot veto any current laws and similarly cannot create new ones. Her role is solely constitutional. So there!

For me the remorse of what could have been far outweighs any short term losses. This is second time around for me after being in EOG nearly 15 years ago. They have so many irons in the fire now, any one of which could add a bag or several.

That would put SP at approx 6p then. A good start :)

Not showing again, 491289 this morning and no sign.

And they say that nothing goes up in a straight line! This seems to be the exception to the rule this morning ,14.2 % up so far.

Good analysis, credit due to edgein on ADVFN:

But personally I reckon we currently have better assets than Seascape and they have a current cap of around £50m. A mix of contingent and prospective which they may do ok from once drilled. GCoS ranges from about 30-50% which seems a little optimistic on some of their targets. They don't have anything the same quality as EG-08, their assets are more in line with the likes of Inishkea or Inishkea West in terms of scale and CoS.

They certainly don't have any tier 1 assets with 80% CoS, I guess that's why EOG are in advanced talks with an major energy company right now! Well to be drilled updip from a well with gas and condensate shows, reminds me a bit of CHAR's Anchois-2 well that sent its share price from about 3p-20p+. It wasn't nearly as large or as high quality opportunity as Barracuda.

Wressle-2 non-dilutive funding and Cloughton tba, EG-08 should be full carry. If all goes to plan with all the planning permissions for UK, licence extension and farmout on good terms for EG-08, then EOG should be anywhere in the range of 3-7p. A top end Cloughton could add around 5p and more if it needs multiple dev wells, broker suggested up to 23p/share for EG-08 (its got multiple shallow targets on the block too).

So lots to play for between now and year end, locked and loaded like GWB, focus remains on EG-08 if anything else comes in its a bonus. Imo success on Barracuda will unlock the other opportunities that Will hinted at. You pays your money and takes your chances etc.

Regards,

Ed.

Have the management tried any of the "We buy any......" companies? Always better than a trade in anyway :)

Https://mol.im/a/14832533

A flurry of buying this morning, hopefully news on the way.

Labour advisers urge Starmer to ditch party's ban on North Sea oil and gas drilling https://mol.im/a/14627023 via https://dailym.ai/android

Coincidentally if an offer did present itself I wouldn't be surprised if the board accepted a bag of magic beans.

Courtesy of Pangrati posted on ADVFN yesterday and with reference to the large corporate sale recently :

"Not a holder, but noticed the recent share price fall and read the last rns. As a follower of investment trusts I know that Henderson Opps (HOT) is in the process of being wound up, and I remember that it held Deltic. So, that's your answer, nothing shady, just a forced seller."

Trump has a golf course in Balmedie, Aberdeenshire which borders the North sea. His mother, Mary Ann MacLeod was born on the Scottish Isle of Lewis. So, a couple of ties, both maternal and financial interests.

Unfortunately when 60,000 lads lost their jobs in the North Sea circa 2015 nobody batted an eyelid.