The next focusIR Investor Webinar takes places on 14th May with guest speakers from 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.
Mommur,
Put that wine away & breakout that GlenDronach 21, looking likely to finish blue for first time since Feb !
Infor,
Thanks for the link.
"The proposal to introduce a price at which oil and gas would need to reach before the levy kicks.."
For me the floor has to represent 'opportunity' and not what we currently have, a dagger through the heart of the industry. Floor for Brent should be min $70 barrel, where as NBP min around 80p/therm imo, crucially these need to be inflation linked if this is to last until 2028. Remember EPL Policy objective was to address "extraordinary profits", for me that means highly exceptional, one off events not natural supply & demand so a floor mechanism is a prerequisite.
Key criteria for the policy to consider was to look at economic impact, "These changes to the Energy Profits Levy are not expected to have a significant macroeconomic impact on the level of business investment". I think that alone is reason to alter the policy given the amount of voices willing to move investment overseas. Once capital investment moves out of UK little will ever return imo...
https://www.gov.uk/government/publications/changes-to-the-energy-oil-and-gas-profits-levy/energy-oil-and-gas-profits-levy#monitoring-and-evaluation
It is logical to expect a review to place a floor on prices, just a matter of if that floor is fair and reasonable for all. Any whiff of positivity on this matter from Hunt this week would be welcomed and should begin to rebuild damage caused.
aimo & dyor
Article says that any price floor that does come, will not be in the budget.
"This would help"
If only it comes to fruition!!
A blue day would be a starter for ten - me buying at these levels has made no difference, only increased my wine drinking prior to the budget increases!!
GLA
This would help:
https://www.politicshome.com/news/article/treasury-windfall-tax-price-floor-budget-energy-profits-levy
"Inmho not a bad investment for any would be investors."
Yes, that's what I've been thinking for quite a while, but the SP just keeps tumbling. I've lost faith in this company and I'm just waiting for an opportunity to sell at a loss which isn't too painful. I've given up hope of recovering my capital.
Completion anytime within next few weeks, expected timetable stated as March.
Hopefully once the mist clears, completion RNS lands with key metrics and CoH our SP should respond, unfortunately who knows how much of the dilution is baked into this cake. Problem has always been not being able to see the deal in full presented by our board and I fear the unknowns will remain the unknowns. Who knows where our SP would have been without this deal given our CoH almost equal too or greater than current MCap atm, or indeed who may of come knocking. As it is, Mercuria have what they want with our BoD complicit in making it happen and giving in to Mercuria's terms.
Sub 200p would be an absolute Tragedy but 'When the morning cries and you don't know why, it's hard to bear
With no one to love you, you're goin' nowhere, Tragedy' ...... !!
aimo & dyor
Kgtrades I didn’t expect to say this but I agree
At this rate, we could see below 200 in the very near future!
We will be trading near a level as if eighteen months ago taking into account the dilutions. I e the equivalent of around one pound twenty. So in other words back to square one. However we will be producing nigh on fifty thousand bbl per day . Inmho not a bad investment for any would be investors. Especially if hmg come to its senses re wft.
Tradition has it that SQZ announces the date of publication of its annual report a week or two before publication date, which itself is sometime in the first half of Q2 of the calendar year. Why the moan? Nothing unusual here, especially following corporate activity. You’ll be moaning about the colour of Mitch’s socks soon enough and linking that to the share price ;-)
Don't forget we have the budget in two days time. You never know with both oil and gas at current levels we could be given a respite in some way.
Even without that we are now at a level where the share price will attract a diverse group of buyers inmo.
Another cracking day Mitch - thank you! Their website doesn't even have the report date for 2022 accounts - unbelievable. Looking back through the news, we may have to wait til 20th April for these - unbelievable, that's if the SP hasn't sunk to zero by then.
"unless they know something we don't"
Cant agree more Muckle ! That's the hope I'm clinging to anyway. After all, who invests £2 million in a penny share (at the time) when the only prospect back then that I can remember was Columbus which they were getting jerked around on by BG ?
Then there's the support for the SP and BOD at much higher levels during the Kistos bid followed by the supporting vote this (on the surface )awful deal ?
Can only assume they are closer to the BOD than we are......
“…must be asking questions by now”. No they won’t. Relatively small positions in diversified portfolios that are overall falling in value. Doesn’t touch the sides in reality. May appear strange but that’s the way it is.
The only question to address right now is holdings (equity and debt) in non-top tier banks.
Wow, the Hardy's must be spewing, unless they know something we don't.
The big institution customers must be asking questions by now!
Down 50% since ATH ....WTF.
I would have thought given MCap of now under £600m that our CoH is equal to or greater than, ( 31/12/22 @ £480m) dependent upon when tax payments are made or deferred.
aimo & dyor
Thanks Nightpusher
HM gov sold it's last remaining holding of BP shares in or around Oct 1987.
Here’s a couple of pics …
https://twitter.com/sericaenergyplc/status/1634826333690683393?s=46&t=uz3in5yMdDdYvqnOjeh9vg
Hopefully someone can answer this. Does Hmg own shares directly or indirectly in BP.
As posted by a number of lth bwe must nearly be at a valuation taking into account the new shares. Which bodes the question.Are we being packaged up for a sale. If so I hope BP is the acquirer.
Without stating the obvious
Serica is now a extremely good buy. Even if our inept government and the next government inflict further taxes. I really do think the company should return all surplus cash to existing shareholders pronto. Which has been said before by numerous posters on this bb. Otherwise it is looking more and more like a certain few are benefiting by the cash build here. Maybe they have taken a leaf out of HMGs book and followed suit inmho. ???.
Off now to read a poem in my local,and afterwards as a nasty selfish person i am going to to my local leisure centre for the forth time in eighteen months . and hasten to add having kept my membership throughout the so called lockdown. If that is ok with the wokes out there.
To all the wokes I've loved before
Who traveled in and out my door
I'm glad you came along
I dedicate my posts to you
Great Britain were getting there inmho, so dyor.
Hi Sasa,
I fully agree that now would be the time to see some action from the Bod (there’s actually been plenty of times to see some action - non forth coming… ), a share buyback as you mention. My question, which I brought up previously, is this even possible/on the cards with the impending allocation of 111m shares to Mercuria, increasing their holdings percentage further?
Likely in a close period, so cannot buy shares.