northstar7
13 Feb 2018
Re: Pipe blockage Hi GoblinI´ll try to find that news you refer to, however I would have though that the pipe clearance should have warrented an RNS, afterall, it means more barrels per day and hence increased revenue again.
Goblin11
13 Feb 2018
Pipe blockage NorthstarI believe the blockage had been cleared! I read it in the evening standard last week - business section!Worthwhile checking it out.best
northstar7
12 Feb 2018
timescale pipe blockage Anyone know how long it usually takes to unblock a pipe of this type?
Ripley94
12 Feb 2018
Re: Forties Pipeline Cracked. Topped up @ 73p
Franconia
29 Jan 2018
Rhum 3 I cannot find any indication of what Rhum 3 might produce. However, by extrapolation, R1 and R2 were producing a total of 27k boepd at the time of deal. so maybe assume that R3 would be around 12k boepd? We have 50% of Rhum so another 6k or so to us (40% payable to BP during 2018, then 50,60,60...) If that is even close it is a big deal to us.....
Franconia
29 Jan 2018
Ops Update Progress with Rhum 3 and Rowallan.....
sasa43
23 Jan 2018
Re: How cheap is cheap?... Hi Franconia - the 22k blsoepd forecast is taken from SQZ's website on the anticipated production participation for them from the BP field acquisitions, which must allow for the duly staged sharing ratios you've mentioned and I assume that Stockopedia's research took that into account, too.On that assumption, the deferral (not loss) of Erskine's contribution of around 2000 - 2,500 bls per day for, say, 30 days - 45 days, won't be that significant now, fortunately, in the overall scheme of things. At least we both agree that being 'overweight' here is fully warranted....sasa.
Franconia
22 Jan 2018
Re: How cheap is cheap?... sasa, It is indeed fortunate that we are no longer totally reliant on Erskine for our production. However, I must point out that the lost production IS more significan to us than you allude to. Remember that in 2018, Serica 'only' gets 40% of the BKR production, the rest going to BP, so the net figure is slightly over 7,000boepd. Thus the loss of Erskine has cut out net income by around 30%. Hopefully only for a week or two but it has dragged on before so dont count on it. I'm still overwieght on Serica and may consider a top up if we drop to 80 over the nexy few days.Where is the operations update?
sasa43
22 Jan 2018
Re: How cheap is cheap?... Hi casa - hope you're well to."Picking the right stocks for capital preservation and a decent yield is evermore tricky" - how true; an expensive mkt makes the search for something reliable very difficult - value traps seem to be everywhere...I came close to taking an interest in CNCT but concentrated more on SQZ, especially post the profound BP deal for them, so no harm done. These mature, almost old - fashioned, businesses, seem to comprise a higher proportion of 'value traps' these days with their current yields often illusory - hope you haven't been too hurt by todays RNS.Most of my stuff is ISA'd or SIPPed (effectively gross funds) so one can achieve returns, either way, provided the capital angle holds up!Good luck with your SQZ purchase this morning; their hitherto single income source, Erskine, seems quite prone to these pipeline blockages but now Serica has four revenue streams to benefit from and thus the BP deal couldn't have been more timely for them!Hopefully, the blockage will be cleared very soon, as previously but with Erskine now representing only some 10% of production of the 22k blsoe per day forecast from the four fields they're now benefitting from, it's not as significant a loss of income, pro tem, as before.... Hope the involvement with SQZ turns out well for you and more than offsets any CNCT 'hit' you might have incurred - sasa.
casabanker
22 Jan 2018
Re: How cheap is cheap?... Good morning sasa,I hope you are well. I have just purchased some SQZ stock this morning, taking advantage of the blocked pipe and subsequent sp fall. I hope you didn't bother with CNCT. It looks like a profit warning has been issued. It's very strange as their management had increased the dividend only last month. Picking the right stocks for capital preservation and a decent yield is evermore tricky imo.Casa.
sasa43
17 Jan 2018
How cheap is cheap?... Although p/e ratios are not that reliable a yardstick in determining value, they're still a useful and commonplace guide in general, nevertheless...Before the BKR deal with BP, SQZ's eps were some 4p ps and prior to the RNS on it, the shs were standing around 28p , i.e affording a p/e of 7 x. If Stockopedia's research on SQZ, post the BP deal, proves fairly accurate (notwithstanding the many variables between implementation and the full Y/E outcome) they anticipate eps to come in around 32p - at today's price of 90p, the p/e falls to only 3!Ergo, the shs, despite trebling over the past few weeks, are even cheaper now than before on this multiple - is that overt value or what? Worth thinking about pre the June ratification and, of course, the upcoming (free carry) Rowallan 'spud' which looks an exciting prospect, too. Should be much more to come here, imv, so GLA LTH's....sasa.
Franconia
16 Jan 2018
Shell Still willing to invest in N Sea:[link]
Franconia
12 Jan 2018
RNS : BKR Restart Did the market know that we WERE'NT producing from 1st Jan????
Ripley94
11 Jan 2018
Re: Forties Pipeline Cracked. Took a further slice @ 89.192 ( S ) limit was 88.1pEvidence there if you pay a bit more in charges sometimes worth it. ( 4 X the difference this deal )
Ripley94
04 Jan 2018
Re: Forties Pipeline Cracked. I had not looked on the news here , seems the standard is ahead of the game hardly ever get time to read it these days, ill have to change that .. lol
