Poor sentiment here and some disgruntled holders, looks like it will be a bit of a slog getting back any decent rise in sp. I for one can see a turnaround medium term so I've had a small flutter on SER, lets just see how it goes.
With improved production, updated engineering and the forthcoming finalization of Dr Ali's report, the Company is exploring opportunities with entities that possess California steaming expertise about how to maximise the value in the Tapia field
The Company's revenue and production is increasing. At the half year stage of 2013, the Company was cash flow positive, bank compliant and with cash on hand despite certain limitations (production restrictions and one-off general & administration costs (G&A) and lease operating expenses (LOE)) and is exploring opportunities with various entities to fully develop the Company's assets.
I don't think takeover in its purest form is something that would gbe entertained. I can see elements of the business being sold off, such as Tapia. JV's yes, this is something I think the board is actively seeking out.
I hope that something comes of it too as of course that would be essentially third party verification that there's value here.
A quick scan of todays postings and I can't see any mention of the possible JV's that we are told could be on the cards with the 'steaming' and other drills. I get the impression that along with a replacement for JE we will get a new partner to work with and the next RNS will give us the details. When SER was first suspended the talk was for a takeover by another company. Anyone care to comment?
You are right buller our fears have been somewhat banished by an excellent RNS which was very detailed it covered a lot of points and even Kansas production.
Disco, what is fantastic now is production is up so if we did better than expected in the drdt half the second half looks set to do very well. We may just be able to fund the steam generator yet!! And also get the water disposal sorted.
When new management come in and we get the Dr Ali report I feel we have a good foundation now to build from. A lot .pf people sitting waiting, to be honest been my ass was twitching, will now come in and see where the next few months takes us.
Hope you are both well and welcome everyone this morning that have posted.
You have to take a judgement on the basis of every piece of news and I don't see any imminent danger just now to the share going bust . As I have said before this share for me is either a multiple over time or a bust. I take the news this morning as a positive and assume that the authorities have looke at the company carefully and approved them for reinstatement and therefore the cash situation is not as bad as I feared. We can see from the accounts that it is low but the increased production income will help a bit. We could get further boost from news on JE's removal or ending the court case but for now don't see it moving dramatically downwards below the previous lows, so no huge risk, so decided to play a bit longer in this pen. It is for ma a very small part of my portfolio and happy to have a few shares at any time like these which have a chance of losing all but also could move very fast on the good days. Hope that explains why I didn't sell, if I was a daytrader might have considered palying a bit but I am not. Besides my broker hasn't opened up for trades in Sefton yet. Will be interesting to see if we get some movement either way when they all realise that SER is back in play.
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