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Should have added the link
https://labourlist.org/2022/11/closing-loopholes-in-windfall-tax-would-raise-17bn-labour-research-reveals/
Labour is trying to get these changes in now but since they have so heavily committed to doing this it is certain if they don't get the conservatives to do this now they will when elected. The conservatives now always do what labour want like the WFT, energy price cap, increase in out of work benefits with inflation etc just takes a little longer than if they were in power.
These guys look interesting with the right deal:
https://newmedenergy.com/
Capricorn were trying to do something with them. Diverse portfolio and reserves.
Infor
"his deal is over reliant on the questionable tax relief"
Not sure this questionable anymore it will be worthless, from Labour List
"Closing “loopholes” in windfall tax would raise £17bn, Labour research reveals"
Also from Sky News
"Labour pledge to 'extend' windfall tax to protect families from soaring energy bills"
Infor - Please can you list those other investment opportunities and the price at which they were on offer plus their value accretion. I ask out of ignorance rather than judgment.
Everyone not happy sell out ..let new buyers buy it below 250
Sentiment is that low now, it could actually be a good contrarian buy signal
The market has spoken. The only hope for this SP is for a 'NO' vote and the BOD to go.
Big pivot around 250p to my eye.
Any one who allows their Market cap drop by £300m or 40% during the best trading year on record has to go. There are so many other investment opportunities that involve lower taxes, diversity and transition that the BOD should have considered, let alone the Kistos fiasco.
Completely agree Terry, Tailwind stakeholders have siphoned off over $100m, that's just in 2021 and god knows what sits in their subsidiary companies today. They have left the massive debt in place and basically doing a runner. This deal is over reliant on the questionable tax relief, dwindling NS assets and stinks of BOD self interest when you consider what the Kistos proposal offered. It completely ignores shareholder return and sinks our cash into paying debt, royalties and decommissioning and we don't even know what the the current Tailwind hedging arrangements are with Mercuria.
OK there's my rant again.
Strong closing statement TerryM, and I hear where you’re coming from. Cannot judge the KIST ‘proposal’ of 6 months ago through today’s lens and market conditions. Most were spitting fire over it and some now lamenting its termination. Funny old world.
If you sell/have sold, wish you all the best. My own view is that value will come through here in time.
Well I'm buying more at this price
NormaSits
"Indeed. However, I don’t recall a bunch of support for the offer when it was on the table so little point in looking back at it with wistful eyes. There is a chance (great or small, absolutely none of us know) that 3 years from now we end up in a good place."
First this was never put to the shareholders as the BOD did not want to risk losing there lovely remuneration packages, they went off and a came up with a deal to scupper any takeovers except by Mercuria who will get SQZ at a knock down price and no doubt some sort of good deal for the BOD. Also because nobody in their right mind could have imagined the SQZ BOD would do anything so against the PI and also there was trust in the BOD to return some excess cash to shareholders which they have reneged on.
The share price is almost at the cash element of the offer and there are very few people now who would not prefer to take this cash and have a share in Kistos run but a much better team than SQZ who sat on the cash for years and now want to throw it away with the control of the company.
Our only hope to recover losses is if there is a no vote and this BOD are removed, they are either self-serving or incompetent. The low share price is a direct result of their actions and the shares will never recover while they are in place.
Totally get you Dennis. I too hope it’s < 3 years….and have already held this for > 10. I guess that puts us in very different positions as the divis I have received have already covered my purchase price.
Somehow I am confident you will make a decent return, but I think it will take a while to work out as this business evolves. The (unpublished) plan to leverage the benefits of the combined entity move this thing to a new phase. Execution risk will be higher, but so will the rewards if successful. That is very reminiscent of the SQZ share I bought 10 years ago. An earlier (also unpublished) plan was also forming back then and, well, that turned out ok and multiplied my value 10x, as of today.
See you around.
I’m with you Norma but I hope it’s less than 3 years.
I’ve stuck with Serica (and invested more) as the share price has dropped since I felt the business was hugely undervalued, especially with all the cash in the bank.
With this deal, I’m not so sure. I still think we’re overpaying, especially with the dilution, but I’m not exiting at this point and crystallising a loss which would be significant for me.
I believe Serica’s management and BoD have integrity and generally possess sound judgement, but I hope they haven’t grasped at this deal out of desperation. I hope Mercuria aren’t as evil as they’ve been painted here by some posters.
Nice JANUARY TRADING STATEMENT & OPERATIONAL UPDATE from Tullow, where's ours?
Indeed. However, I don’t recall a bunch of support for the offer when it was on the table so little point in looking back at it with wistful eyes. There is a chance (great or small, absolutely none of us know) that 3 years from now we end up in a good place.
To any that sell and move on because they don’t like the future, I wish you nothing but the best. I am happy to roll the dice and see what the next chapter brings.
There are plenty of single family offices that do their own single line equity research in-house and will look at small/mid-cap opportunities because they have less coverage. To paraphrase Buffett, it’s easier to generate consistently high returns in the small cap space than large caps.
All in my opinion only and please do your own research
Our own cash yes but we did not have access to it because of management. AA was unlocking a portion of the cash and was eliminating the SQZ management problem
All in my opinion only and please do your own research
Yep...it was our own cash and they were going to give it to us......not give it away to someone else or set fire to it.
…but it was your own cash…
All i can say Banburyboy is
Wyatt Earp
Upomega - this is AIM.
Alternatively known as the wild west casino.
Sorry no other logic explanation for a YES vote IMO.
Nothing about the public stated detail makes this an attractive aquisition .
Short Miller Homes.
clinch
"Saw earlier that Miller Homes are fitting a heat pump to every new home from 2025 instead of gas boilers. More will follow. Every company will at some near term stage switch from oil and gas to other methods so long term O&G shares will be sunk"
What do you think will be supplying the electricity for the heat pumps, additional heating for houses with heat pumps, electric cars, industry etc on a days like today with very little solar and wind on one of the coldest days of the year just a few %. You can see how desperate the generators are today by the amount they are paying for people to use less energy. Also this is just a fad in the west, the rest of the world will continue wil oil, gas and coal for the foreseeable future to ensure cheap energy so they can take up all the production lost in the west due to high energy prices.