Member Info for troubledseller

Yes all very quiet, looks to me as though the lion share of the purchases has been from the faithful here who have been topping up, myself included. If we believe our BOD then a deal is likely before Christmas if not then a certainty in Q1, if not then we have all been lead up/down the garden path. We will all know our fate soon enough that is a certainty. Keep the faith. Atb

Abatt1 - Exactly my purchase was at 212.75 for 4697 presumably there should have been a sell for a little less. The classification on LSE of my buy is clearly wrong.....

LSE not a good source of information for buys/sells it is often incomplete and inaccurate. My purchase of 4697 Jog shares this morning at 11.38 today showing as a sell....?

The timescale has been kicked a little further down the road methinks, however in the scheme of things Q1 2023 is not very far away. The SP drop is to my mind surprising, lets hope we have not been led down the garden path and hope we have been properly informed as best we can be. Have just taken another 10K chunk. Really hoping that SQZ are part of the select party as heavily involved there. Would like the WFT payable there invested here rather than "Sunk". GLA

Greener101 - My understanding is that the purchase of JOG could not be offset by the purchasers WFT however all the development monies needed to bring first oil to fruition would be. There is no requirement for AIM companies to report (RNS) all purchase offers, my understanding that it is at the BOD's discretion.

The recent price drop is a concern however traded volumes are small. I feel that there are many investors here that have a significant interest that cant get out now even if they wanted to without destroying the share price, there is little real liquidity in the market so the share price is sensitive. Dick has alluded to this in one of his recent posts, there are many investors in this situation myself included. My thoughts are that a deal will be done through a farm out, there are a few cash rich companies that will want to invest in JOG to offset their WFT rather than this be a "sunk" cost from profits. Due diligence has been completed by our suitors and Hunts mini budget has not really changed much except to increase the WFT. Things are therefore looking stable in the medium term. I am hoping that a deal will be done before Christmas, it is however always difficult to be impartial and objective when you are already invested with a perspective from your wallet. ATB.

Not so sure the case for investment overseas is now a given. The huge 75% taxes we pay are "sunk" if however we invest here in the UK the majority of the Capex will be offset against the tax already paid. Development and the investment here in the UK is therefore effectively risk free. I think that this is a compelling case for further development in the UK and not to migrate overseas. This helps to encourage the energy security and independence issues/agenda. Hunt stressed that the WFT was not permanent and would be reduced as and when commodity prices fell. ATB

Greener - Sorry for the negativity, it is a glass half empty day for me, normally I am more chipper. Afish's perspective is logical and makes good sense, lets hope that it comes good and in the timescale identified in your epiphany. Just frustrated with the mess and general state of our society and the inability of our leaders to sensibly sort things out. All the best, really hope that this comes good.

Greener - I like your thinking and optimism. Lots looking to hinge on the news from Hunt tomorrow, however sadly methinks this is again only short term tinkering as we are heading for a change of government, everything will be ripped up and started again. There is no stability here, who wants to take the risk to develop this project for next to no return? I am a holder here and in other north sea companies but am becoming increasingly disillusioned with my investments. Our government and political system are broken. Our media, especially the BBC stink and need reform.

Anyway sorry for the rant, must go back to work running my business. Need to focus on how to squeeze some extra margin out of our products to cover our spiralling costs. Many will have to throw in the towel when the minimum wage rises another 10% as mooted yesterday. Sorry to go off topic. GLA

So the Ithaca IPO is already fully subscribed and set to complete later this week, albeit at the lower end of the forecast range 250-270. Any relevance for JOG do we think.....?

NewK - Have mixed feeling regarding the share BB, part of me thinks that it would be beneficial especially if executed strategically when the SP was in nadir, this would greatly benefit all stake holders and theoretically allow for greater distribution of profits further down the line. On the other hand it could show a lazy and unimaginative board who are out of ideas. Like everything in life it is about balance and differs from whichever perspective you are looking at it from. So for me perhaps some buy backs at sensible prices and definitely something that replenishes our reserves , ups production and cements our companies future. This could of course be Eigg (North and South) something organic that we already have, this could negate the need for any M&A activity. If the forth coming drill shows otherwise then it has to be full steam ahead on the M&A circuit with our considerable war chest.

SQZ have not been laden with cash for very long, the bulk of the accumulation has been post BKR completion at the turn of the year. For me, short term, in these turbulent times there is nothing wrong with keeping the cash and maintaining a strong balance sheet. Longer term the cash for sure needs to be working for us. In this regard I am sure our Bod will be looking at numerous options, it is better to take your time, caveat emptor, you can only spend it once. We might yet be given a big surprise again one of these morning with Andrew or a farm into something likeJog, who knows. Anyway I still have confidence in our very experienced Bod and trust they will be doing their best. I am liking the progressive dividend policy and will continue to hold and accumulate as and when my circumstances allow.

Carnage over at IOG this morning following their RNS citing operational difficulties. Perhaps an opportunity for SQZ to spend a little of our war chest....

Everyone invested here would surely have done their research and be fully aware of the risks and rewards. Volatility and noise are to be expected and are just par for the course. Will wait for news because I feel that the energy security issues and the longer term POO will steer a positive result in our favour, hopefully in the not too distant future. GLA.

I have taken the lead from Mommur and pre-invested my dividends here today, hopefully taken advantage while the share are in a lull. This a model that amused me when he posted it several months ago, now what about the dividend on the pre-invested shares.....Too funny!

x54v - I was about to post something very similar to yourself, for me the crux is "due diligence being completed October 2022 (multiple parties)". Assuming this is positive then there will be further commercial negotiations before the final outcome is delivered to the shareholders and markets. Timescale, I am expecting something this side of Christmas. As you state this would be a transformational deal, there are many PI's positioning themselves for this event hence the current market activity, we have been told it is coming. GLA that are invested here.

Newkotb - Market sentiment has gradually dragged this down unfortunately, just hold as fundamentals will eventually prevail. I hope that your inferring that you do not want the share buy backs as the double negative in your post below states otherwise and made me smile. Looking forward to our dividend announcement tomorrow. GLA.

Have been pondering motivations why BP exited SQZ suddenly and in its entirety back in April. Has anybody here any thoughts/theories in this regard? Perhaps it was simply because the BKR deal had now been completed or was there any other motive i.e maybe avoiding future conflicts of interest with the holding effecting other BP asset disposals....?

Agreed there probably should have been an RNS for both Skerryvore and Petrofec maintenance. Hoping this is because our management are too busy engaged with pressing bigger issues. BP's Andrew perhaps, we can but hope! Anyway not many trading days till the interim update....

Rookie1 - Take your opinions and politics elsewhere please, this is a forum for SQZ investors.

Great, that will be much less noise. Back to sleep, hope to be awakened next by the feeding frenzy when our deal is announced.