The next focusIR Investor Webinar takes places on 14th May with guest speakers from WS Blue Whale Growth Fund, Taseko Mines, Kavango Resources and CQS Natural Resources fund. Please register here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
We’re most likely to be well north of here in the next few years even with the deal… it’s so undervalued still, just materially less undervalued than before (I think by 40p overall, but you’ll all have your own estimates).
So, if it does well, as all holders surely expect, let’s just move on and no gloating that ‘it was the deal’ please )).
Could be £1.50 if our underlying commodity prices collapse or we have some operational disasters.
Ceteris paribus, we’ll be ok. Looking forward to what’s ahead.
Oilman -yes probably driven by an IOU from Serica to Mecure of £150m in a locked box.
Norma s choice of words " happily* is a combination of gut wrenching and putting the boot in.
Blind faith and tea leaves springs to mind.
Dickupham - add in an after hours lock in with Upomega to the plan and it might just work.
£1.50 next year
Happily, the deal will proceed unless either party decides to scupper it.
"Can any further action be taken to scupper the proposed deal?"..............
...............threaten to make them spend an hour shut in a room with Greta Thunberg?
...............followed by 2 hours answering questions from NKOTB, Banburyboy & infor???
And after that?
The pièce de résistance:
...............back to Room 1, but this time Greta's got her kit off...............
Should work.
Can any further action be taken to scupper the proposed deal?
The only difference with what happend at Capricorn, is that one II in particular did their homework and were not hoodwinked by the BoD. Im not sure our large/II holders dug deep enough or had the balls/tenacity to unpack this sham of a deal properly.
If they had done their homework / had the balls we would not be in this position
Only with life in general valparaiso
BattleFIS.
If i worked in the oil and gas industry words would fail me as to how angry i would be with the ignorance of politicians and the media. Collectively the industry really does now need to go on the offensive and educate politicians,media and the general public as a whole. It has been one sided for far too long inmho.
NewKOTB,
Earlier, you made the rather staggering point that the EV of Serica has not changed since 2017 despite all the inflation (about 30% on its own), growth and retained cash generation over the last 6 years.
So, rightly or wrongly, the market is pricing in a lot of value destruction from the deal and after it.
At 250p, I suspect we are at least 70p lower today, possibly 100p, than we would have been without the Mercuria deal. The market clearly hates it. But then 74% of shares were voted (effectively) ‘for’ the deal.
…intriguingly inconsistent…
Upomega
Still got a hangover matey ?
We are not a na....zi state. Up BSF Ent
I am horrified with the scum.
Rule Britannia.as for you lot.buggwr off
Tax on banks will be next….
A strong idea upomega.
We’ve got to the point where the industry have to take control and educate, or else they’re at the whim of the populists…
This could be a golden opportunity for Serica to get across its green credentials and how they have reduced carbon emmisions. A major PR exercise involving the press. politicians and even schools explaining how the clountry needs them in order to reduce imports and explain why extra taxes will create a nightmare going forward for this country. They could even go to universities and schools on some sort of road show. Also they could create literature and videos to target these institutions. In other words a major pr exercise is now needed not only from Serica ,but the rest of the industry as well inmv.
Cinch,
“Ultimately, there is no energy plan just a plan to get votes by judging the public’s mood.”
Agreed, and the people of this country will be all the poorer for it long term of course.
The government and media need to do a much better job of informing the public, on the facts I mean.
A more informed public will then be in a position to make more intelligent choices. At the moment, it’s a free for all populists at the moment…. no domestic oil and higher taxes at the expense of growth and attracting investment. They don’t see the other side of the argument as clearly as eg less oil production = good.
As we all know, Less domestic oil = more imported oil = higher taxes and a lower standard of living for us and our kids.
The media has lots of debate, but could do much more on facts and figures and analysis (presenting both sides).
Politicians do not tell the truth, or the whole truth. despite making policies, they don’t know the facts of course too.
The economy is one thing (productivity/ regulation/ taxes too high to grow hence the downward spiral we’ve got ourselves in, where yet higher taxes mean we grow even less)
But, the energy transition too.
It’s pretty clear it will take decades to implement even flat out on renewables.
Of course coal has 2x the emissions of natural gas. Coal is still 30% of the global energy mix…many EVs globally therefore effectively run on coal power plants, which are kept in service as we need the energy molecules for electricity (less so in the UK, but partly as we still have some coal…but even if we use more gas in the Uk ….another country then has to use more cheaper coal as there is only so much gas/LNG available.
This is exactly what has happened with Russian gas being offline of course. Coal consumption globally has hit new highs.
Sorry for banging on. Frustrated!
Thought I would look at today's EV and compare it to day one of completion of BKR deal in Nov 2017, wish I hadn't now !!!
Don't forget that Mitch also rejoined SQZ and appointed CEO after his failure at Circle Oil on the same day as BKR announcement .
30/11/2017
On day one of BKR completion, closed at 67p (Mcap ~182m) with ~£15m CoH, zero debt EV = £167m.
4/2/2023
Today, closed at 245p (Mcap ~£669m) with ~£500m CoH with zero debt, EV = £169m
So our companies total value has increased by a massive £2m in +5 years..... way to go Mitch !!
aimo & dyor
Banburyboy. The possitive here is that the BOD really must come up with something to add value to all ALL shareholders and not the three/four that were swayed to vote for this. Otherwise what will they think about our dier share price in six months time????
General
The debate on here is nothing to do with any of the rubbish in your post re public perception
It a sentence it was about was the deal offered to SHs good using known metrics.
You were in a tiny minority supporting the deal vocally but never presented a single fact or peice of evidence in defence.
I would respectfully ask you not to lecture people on here about what they forget !
On the evidence presented and using other posters as a benchmark you are not starting from a position of strength.
In all honesty i dont think they do. It just feels different this time. I think the problem is that we really do not have any decent politicians and come to that debaters through the press.
We are now in essence one political party made up of the conartist/sta..zilab/lib dems and the wokes.
any im off to have s..x change. i might even change my mind and just have a roger hair style instead.
Back to Serica. Inmv the oil price is going to be the driver here. I am sure many posters have been closely watching how oil is effecting the movement in our share price.Hopefully in a possitive way.
People on here forget just how knee jerk politics and policy is, as soon as gas prices and profits are out of the headlines the media and swivel eyed man on the street will focus on some other dog whistle sensationalist topic of the year, transgender immigrants or whatever the daily mail decides, gas prices won’t be in the headlines at all in 2024 imo
For Capricorn read Serica in a couple of months time!
https://www.rigzone.com/news/capricorn_reshapes_its_board_of_directors-03-feb-2023-171963-article/
And in their wisdom they want everyone that has retired to go back to work. So in other words do the work that the younger generation seem incapable of. Good..bye little Britain.
I should not worry fugs rule in the George at at croscombe. They are above the state.takeva look