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If only - he has my backing for CEO!!
I agree AA does appear a good fit, however, with Kist share price down 75% from highs in the past year, even surpassing the drop SQZ have experienced, they'll be some critics no doubt.
This is the guy we need as our CEO ....
https://www.lse.co.uk/rns/KIST/uk-onshore-gas-storage-assets-maikodedz5bqd5a.html
aimo & dyor
Is anyone else unable to add to their position? Trading 212 is not allowing me to make any more buys saying I already own more than the current limit of 60 shares
The only good thing that's come of this whole TW/Mercuria debacle is that Mitch has lost his job and will hopefully lose most of the money he was just forced (yeah as if he bought those shares willingly) to part with to buy those shares recently. What an absolute sorry debacle. Yes the EPL would have decimated the company anyway, but that truly awful acquisition was the coup de gras.
Well said Maverick and would think that a lot of us are thinking the same.
Why on earth have 2 directors bought shares that’s what I want to know? Unless, there are negotiations ongoing about something abroad that we don’t know otherwise it’s a very bad trade chucking money away.
Said it for a long time that NS will be a graveyard under Labour, Aberdeen will be a ghost town and politicians just spouting promises that they can’t keep. When a politician actually wakes up and smells the coffee that they won’t be earning all these billions in tax then everyone will say I told you so but it will be too late by then.
Then you have the eco loons who are determined to stop all o&g production to rely on renewables. Has anyone told them if we switched off o&g today we’d have to import from abroad and we, the taxpayers, would have to pay more for our energy? There is also not enough renewables at the moment and is also not profitable.
Energy is a political pawn in a very bad game and could see thousands of jobs lost but listen to Labour and there will be thousands of jobs in the green sector - oh no they won’t…. Not properly thought through as always.
With no appetite from investors with what’s happening this could easily, very easily, go a whole lot lower. Div maintained - wouldn’t have thought so and that would be the final nail in the coffin.
Just thinking that what Mercuria have actually bought is a company paying 75% (or 78% under Labour). With investment allowances to be deleted they are actually inheriting a dog in a dog industry. It’s going to end up in tears.
I’m holding to see the div then selling
One thing I never understood with the TW deal was how did they arrive at the almost $20 a barrel valuation in a 75% tax environment. You'd have to be making $80 a barrel profit to make that $20 back. Who on earth has profit margins of that magnitude and that would just be to get your money back.
You cant make it up
SQZ net cash expectations substantially reduced by their house broker - SQZ just didnt make this so obvious in the OPs update, but they didnt hedge, oil and gas prices are down and production isnt increasing
NewKOTB, for the Tailwind deal I was agnostic. I saw a lot of criticism on this board, some of which I agreed with, but I trusted that the BoD had crunched all the numbers and taken account of all the risks. Clearly my trust was misplaced.
My main concern was why we were investing exclusively in the UK with so much uncertainty and risk around taxation. I believed we should have diversified overseas (and still should).
A lot of PIs on here said similar things but we have been ignored. The IIs who voted through the deal weren't investing their own money so I guess they weren't so worried.
If it's not already too late, I hope the BoD will start to take heed of PI concerns since we have more skin in the game than the big boys.
What a shtishow.
SQZ and other O&G companies need to cease production until HMG gets its shti together.
"first thing that the company should have done once epl hit was to diversify overseas.."
Yet Mitch decided that the TW deal was still a good one !
When you get to the situation when you are hoping for a bid then things are getting desperate. We will soon have the 12 months up since deal and then the 'founders' can begin to sell their shares too.
aimo & dyor
Fwiw i have been reducing, but still hold some. Any bounce from here and i will reduce further. Inmv the first thing that the company should have done once epl hit was to diversify overseas.For me this is now no longer a company with prospects due to our wonderful hmg . Let alone what will occur after the next election inmo
What is keeping investors still holding this stock? Once it broke 200p again, that was it for me, SOLD the lot, i made a promise to myself that i wouldnt hold for any election. SQZ just isnt investible, for so many reasons:
- poor management
- Labour threat
-gas prices going down
-production targets are lower than expected
-is the dividend safe?
- EPL is here to stay
- Oil and Gas sentiment isnt improving
-lot of the big players are exiting the North Sea for a reason, but yet these numpties its still the golden goose
-there are so many other better options - not necessarily in the energy space
The only positive here is that continued price falls makes it a bid target, thats the only positive i see, oh yes and Mitch leaving, lol. I bet Mitch doesnt like the fact that he is poorer now with his loss on his "trade"
sorry i am being negative, ive been here in the 5p days but the downtrend is there for a reason and sometimes you just got to press the sell button,
Don't think Mercuira will be too worried about the persistent weakness of our SP, in fact they will be rubbing their hands to see a once great company fall from grace, that's AIM for you. Shark infested waters !!
aimo & dyor
Guys the floor is linked to inflation and was annouced in June 23 so likely to be June 24 CPI which you've guessed it will be 2 -3% as lower energy prices impact.
Unfortunately the criteria has to met for both oil and gas for a continuous six months, I beleive
Spookily I'm pretty sure based on today's SP we would be better off and more profitable with the floor than current SP ( probably for both and certainly for gas). The lack of a taper needs addressing as its a huge disincentive.
I'm in HBR and they will address it by supplying GB from Norway. That should make policy makers of what ever political persusion think.
As gas approaches the floor and in all likelehood going to stay low - and this is accidentally the brilliant TWind deal strikes again !!!
Appears to me as if we are now (have been for a few weeks now) targeted via pack attacks (shorters), similar in MO to what was happening to HBR for months. Tiny volume being used to smash us down ....
aimo & dyor
Morning Mommur,
I do recall reading on the official GOV.UK site that these 'floor figures are now linked to inflation, not sure what measure of inflation that is but I do remember seeing it, somewhere or then again it could be the same as I saw Kylie Minogue in my bedroom the other night, who knows !!
That said, given it needs both oil & gas to be at an average below these figures for 6 months (I think that's the criteria) there is not a cat in 'ell chance of it ever being invoked.
As for having the industry "over a barrel", should that not be 'over a boe' !!!
aimo & dyor
As gas plumbs the depths of umpteen year lows in America and is now getting close to the EPL rate of 54p per therm, I do wonder if the Industry remonstrates over the EPL figures of 54p/therm and $71.4 per barrel of oil, with that they should be index linked from 2022.
Surely if my old age pension goes up 10% and 8%, any government should have a mechanism that doesn't damage industry unjustly.
To be fair the weasels have been very clever, slapping this penury on oil & gas companies, who's product is priced on the international market, is a win win. These companies (Serica) have seen the cost of supply increase to over $20.per barrel now due to inflationary measures, but are unable to pass the cost onto joe public.
The likes of BAE, Rolls Royce and even the Retail Gas Market suppliers (British Gas) have had bumper windfalls but good old Government cannot touch them as the costs would be past on to joe public.
Rant over - about time the Industry gets government (in or out) over a barrel
Oh sorry forgot to add I will soon be posting a text from some kind immigrant. Threatening to say the least inmv. Maybe the works will take a good look.
Well here are . Still holding to many shares. And what do us have guv. A incompetent gvmnt run by it's supporter of war crimes st..mr and it's puppies such mill...bnds. minute Britain were leaving.
Sasa43
Fwiw . Finally have reduced to a level that sits well with me. Pure gamble share now for me. Verry verry sad that minor britain has become what it is. inmv,dyor onmho
Amendment not with help of bod . My view is that they are faciliting the demise and being an investor i am dismayed and at the very least insulted by the bod of Serica and its major major shareholders.
United we stand divided we fall. The arrogance of the North Sea Oil and gas industry holds no bounds, Idiots to say the least inmv. None of them could bury their pride and stand by each other asnd still went out bidding for licenses,
They are bringing their demise and as i have posted numerous times with the help of BODs and major shareholders. Very sad really inmho,dyor etc etc
Can’t wait to see GB Energy crash and burn which it will do as simply unaffordable. These politicians have no clue and Keith has already gone back on his promises with the o&g sector.
Okay, we soldier on, then, at best hoping that Serica will finally wake up and get involved in something meaningful overseas before an even worse Govt. gains office. GLA of us - sasa.