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Approval received from OPRED on the 18th of April for the tieback to Triton.
Drill production well via semi sub rig.
5km production and gas lift pipelines from Triton.
7km control umbilical from Evelyn.
aims dyor
Now 193p been falling back all week from last weeks 5 month high of 218p
When money men knew Iran was to attack Is real pushing up oil price .
Deescalation now.
Suspect returns from here will be material - poor decision IMHO.
Steve,
Slide 22 of the aquisition presentation was very clear, taxable losses expected to be used in the next three years.
Will be interesting to see IF they answer my question, I'm not holding my breath.
NoQuestions
When a company acquires another company with tax losses it can not offset those losses against the current groups profits for 5 years. There are ways to mitigate this tax law but not easy. The losses will of course be used against TW taxable profits (excluding EPL).
Fwiw i i now feel this is a defunct share to hold , So have reduced accordingly.Who knows they may even find some spotty oik fresh out of Hull uni to take up the reigns of serica. Whatt did it for me was the idiotic resignation of the hmg puppy without a new ceo ready to take over the reigns. Very sad all round inmo, No doubt covid will be the exuese of their irrational thinking in terms of placating hmg both present and going forward. H...ii ittler. Litt;e britain were getting there
I have submitted three questions for the Investor meets company next week.
It might be an idea to continuecthis thread to share questions and prevent duplicates?
My questions were to ask...
1. Do they still stand by the £470m taxable losses available to us following the TW acquisition and how much has been utilised to date
2. Do they still want to expand their horizons into Norway? (or The Netherlands/Denmark) and if so what progress have they made.
3. With hindsight, do they now regret turning down the Kistos merger approach.
Rather than speculating blindly, I suggest we wait for the update in a few days.
Upomega
I also think they are using the overseas investment carrot to keep some investors onside. I am sure they are happy to keep taking their salary and plodding along in the NS. I hope I am wrong!
Im working on the assumption that the dividend is going to end up about ten pence per year in total going forward. So inmv a dividend cut is innevitable. The big question now is will they bother to grow the company outside of the north sea. I am sure that i am not alone in not believing a word they say in terms of saying that they are looking overseas. Hopefully if this speel comes out of their mouths next week it is backed up by some firm evidence, Otherwise one may feel as an investor i am being duped. Not very good for a listed company inmv. Some may even say bordering on misleading. inmho
Let's hope so, bots and if the Investor Presentation also discloses an overseas acquisition / investment for a change, bearing in mind the sizeable fund raising facility announced a few months ago, that might explain the somewhat better sp showing just recently.
If any deal merely extends their NS involvement again, though, disaffection with such news will likely set in again, I fear... sasa.
NS related - Enquest ….
https://www.lse.co.uk/news/enquest-selling-stake-in-north-sea-golden-eagle-oilfield-sources-say-xwcfw31pmvlovon.html
Must be good if they’re going to crow about them. ;-)
SERICA ENERGY PLC - Investor Presentation which will start at 24th Apr 2024 at 2:00pm BST.
I guess that may also explain the recent rise in the share price if that is the case.
Share shuffle… 👍
A pair of very large late trades reported….. :
15-Apr-24 12:53:36 205.40 1,993,000 Unknown* 4m O
15-Apr-24 12:50:51 205.40 1,993,000 Unknown* 4m O
Possibly an acquisition they want to announce at the same time as the results
It would seem that they are late in publishing results. Last year RNS on the 6th announcing results published 13th. To date no announcement and can we assume results are at least a week away? Any views as to why that may be? I assume things are more complex after the Tailwind acquisition but seems strange.
Yeah, high oil prices = higher profit.
With good dividend cover I can't see much risk even if the price dips for a while. Here my purchase, I'm in :
15-Apr-24 08:22:08 204.733 1,951 Buy* 204.40 205.00 3,994
Sharehunter2, from what I remember, 50% of Rhum is owned by the Iranian Oil Company but they're not involved operationally and proceeds from gas sales are placed into an escrow account to comply with US/EU sanctions.
Personally, I didn't think the situation in the middle east will have any impact on Serica (apart from driving up oil price) but I'm not an expert.
AIMO.
I've only just discovered this company today as I've spare cash on hand since Friday and need to re-invest. To me looks like the share price is discounted by 20-30% right now. Normally I would not hesitate and place a buy order at opening on Monday, but due to Iran getting involved now it can be tricky.
Any views on next week share performance? Some of you will know this stock better than I do right now.
NKOTB,
Hope you are well
Absolutely, unless NEO are prepared to sell at a substantial loss I can't see any buyers being quite so gullible as a certain company we all know!
Iran getting 'involved' with Israel could have ramifications for us of course. I'm hoping for a situation where we are able to aquire the other 50% of Rhum from the IOC.
At the right price of course, taking WFT into account etc etc.
Thoughts?
NQM,
Don't worry, I'm sure there is a willing buyer not too far away that's happy to pay over the odds for assets, profits from which will be subject to WFT. The dealmaker could be the fact NEO carry significant investment allowances to offset tax .... !!!
Now who made that argument recently !!!
aimo & dyor
Our partner on Buchan looks to be looking to exit the NS.
Who can blame them?
https://www.energyvoice.com/oilandgas/551595/definite-potential-for-neo-acquisition-with-risk-to-buyer/