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It's the long lead items. We all know it takes multiple years to place an order! They flat out refuse to communicate or engage with shareholders, and then look confused when we are annoyed at the destruction in share value
How much actual progress this past year?? - Minimal with lots of excuses and no clear direction
What have they communicated?? Minimal with lots of excuses and no clear direction
Do they deserve to stay?? - No! Business and share price performance for last 3 years clearly shows they failed
Be interesting again to see how voting goes at next agm. Last time 13% against JA. Some others had over 30% against. You would have thought that they would have tried harder for shareholders value while taking their massive salaries.
How much actual progress this past year??
What have they communicated??
Do they deserve to stay??
Thanks for clarifying Adon, I had meant SENX but had forgotten that point. Maybe Xtellus again then, possibly we'll find out tomorrow/Fri
The company as in SENX? or are you on about the investment company Xtellus Capital Partners?
If you are on about SENX, it is definitely not them as they are not sanctioned to buy back shares as it was voted against at the last AGM.
Delayed reporting of 2m shares purchased 10am on the 15th for £66k at 3.30 price - I'm guessing this is the company at it again? are they supposed to RNS this
https://www.***************************/serinus-energy-gets-forecast-and-valuation-update/4121111799
nav 42p
I don't get it. SENX is seriously cash short if it wants to deliver any sort of incremental growth in either Romania or Tunisia, even forgetting about its Angola exploration opportunity.
Only thing I can think of is Mcap is less than asset value. Unless there's some movement on activities in Tunisia... or even Romania.
Xtellus were buying a while back. Maybe they want to get more.
No news I can see
+48%
nice change of pace
Looks that way yea
Are there any big trades missing here? Moved up on a few grand in buys?
+35%
is there news due?
Perking up up a bit.
28%+
Hanging on because it's rather redundant selling when down by circa 90%
There seems to be some activity this morning mind
Down 90% or so. 10 grand became about 900 pounds. Completely mismanaged. The company and the investment.
Just wondered if anyone still hanging on to this? I think I’ve lost too much to bother cashing in
Just wondered others thoughts?
Thanks for this info the mcap for this company is approx £2.5 they have over 20 x that in asset value its just out of love on the stock market suprised Xtellus Capital Partners INC not adding to their 10%
If you listen to the Investor meet presentation from yesterday. JA explains how SENX stayed debt free and didn't fold.
There was a raise back in Nov 2020 which (I think) was part of this.
No. but thats a pretty much the only good thing
Is there any with this company?
Thank You
Summary:
* Production rates steady but low and also attracting a lower commodity price.
* sidetrack at Sabria W-1 not for at least 6 months (sometime in Q4 maybe)
- Long lead items on order and costing less than previous highs
- Drill rigs difficult to get in Tunisia and needs to be the right type. Could delay it further (remember last time!)
* Sabria N-2, 55% partner is not receptive to any further work. Unlikely to happen this year as they want progress on pumps which is waiting on W-1 working with end of year timescale. They claim to be in discussion on this well but looks a complete non starter at present.
* Moftinu has at least a couple of years life left.
* Rates being kept low due to low commodity price and excessive tax regime in Romania.
* Did mention that they own the gas plant ($7.5m) and it can be moved.
* No plans to explore...
I can understand the reduction in production rates in Romania while the prices are low and taxation is high. But to not be planning a drill 9-12 months down the line because of this does seem short sighted. The last 3 drills have all failed to produce (commercially) in Romania. If there was to be a peak in prices or a change in fiscal regime then presently SENX are in no position to take advantage of it. It would take them 12-18 months to have anything in place on a success case. And by then they would have probably missed a lot of the benefit. They don't seem to be very proactive on this front.
The Tunisian assets could be huge but this should have taken off last year. Now it will be 2025 before any increased benefit from them.
For now the production will pay the bills and their inflated wages. However as an investment case it is not looking to rosy for the coming year.
Hopefully people will use there votes wisely again at the AGM to prevent this board from having any free reign. And possibly even see some being voted off.
Not sure today warrants a 10% drop based on the assets but that's the market for you.