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I cant see a merged larger company still based in the NS being valued any higher than the sum of the parts are at the moment . That the TW deal looks poor , self serving and a wasted opportunity, is a given. So why did 74 % of SH vote for it ?
I still hope we may find out .
At the recent presentation MF was asked if they were seeking an overseas deal . He answered yes but I cant say any more at the moment and wanted to move on. He could have just said yes, but sort of implied there was more to say which suggests he may be in talks ? Wishful thinking maybe ! but a big overseas deal plus a move to the main market is whats needed IMV to get the SP flying again , so I think its a waiting game .
I am sure most lth on here will be glad to see the back of me. So fwiw i have finally had enough after this debacle of a company. Personally i really do not have any faith anymore. A good example is the dividend. Inmv this is their way in passifying its lth.(If that is the case they are well short by at least fifty pence) but i will still be around and post on my new oil and gas company from time to time.
Newkotb . You and some others posted numerous times that bod were self serving, but fwiw i gave them the benefit of doubt. Not any more as it becoming more and more clear that they are self serving and this Tailwind deal was exactly what you intimated at the time. A rubbish self serving deal to secure their greedy lifestyles and in the process destroy existing so called small shareholders. Easy when you get share options isnt it
Yes,but you are forgetting that any possitive move is counter acted by a negative move with interest.
Joking aside. Sericas best bet is to come up with some kind of merger with Harbour inmho. As Harbour seems to be the only North Sea player that is proactive in looking after its shareholders . Especially after our N...zi state is h..ll bent on destroying its own energy needs.
GB is rapidly becoming a pre second world Germany inmho.
Very bad times ahead for this so called free country inmho and only my opinion, dyor etc etc
Looks like a bit of a small move this morning ?
I wonder if there could be a chance of some kind of merger with Harbour. Especially as Serica is good at maximising North Sea Assets.
...........for independent thinkers who find themselves disinclined to cheer the Emperor's finest silks:
https://www.conservativewoman.co.uk/the-insanity-of-net-zero-and-how-to-tackle-it/
Added some here
Come on opec. Drive oil up. Hmg will benefit by higher taxes and hopefully Serica shareholders will. Oil oik Starmer can cut my house hold bills in the process inmv. Oik and his cronies have thought that one out. Opec,Opec and down with North sea gas industry. Inmv atb lol and pay your taxes oik. I e.no security with your pension.
I would like to say woke n...gro .lezxbo,but that's not alod anymore innit.
Wonderful Coronation inmv. Only to to be spoilt by poo pooing that it was terribly white with the royal family on the balcony. How offence is that comment. So here's one for you . You awefall un white person.
Think I may have Harira for starters, Mechoui for main accompanied by spiced chicken Tagine followed by Baghrir with plenty of sweet, sweet honey to celebrate, washed down with a bottle of Thalvin.
The below two graphs are interesting as inmv it clearly shows that we are now following the crude price.
https://www.lse.co.uk/ShareChart.html?sharechart=SQZ&share=Serica
https://www.marketwatch.com/investing/future/brn00?countrycode=uk
We could also be in for another good day tomorrow with brent currently up.
"Serica Energy said its pro-forma Proved plus Probable (2P) reserves increased to 130.4 mmboe as at 31 December 2022 compared to 104.0 mmboe as at 31 December 2021, following the acquisition of Tailwind. After the purchase, Serica is now a top 10 producer in the UKCS and a significant contributor to the UK’s energy security, the company said.
In a separate announcement a few days later, Serica said the acquisition had also added considerably to the organic investment opportunities in Serica’s portfolio. Rig slots have been reserved in order to drill infill wells on the Bittern, Gannet E, Guillemot North West and Evelyn fields in 2024, all of which are existing tiebacks to the Triton FPSO. The potential developments of the Belinda field as a tie-back to the Triton FPSO and the Mansell field, situated in the UK Northern North Sea, are being evaluated..."
A good report published by OGV Energy which Westminster politicians could benefit from reading.
https://www.ogv.energy/news-item/uk-north-sea-energy-review
Link still works if copied and pasted
intresting reading
Serica Energy: EV $566m; 120m 2P; 45-50kbpd
Noreco (Bluenord): EV $1,700m; 200m 2P; 50kbpd later in 2023
https://twitter.com/BurggrabenH/status/1653799645984743424
Not sure if link will be active as it appears after yesterday's LSE 'update' links, no longer link !!
For Shell, BP etc although the WFT is overall is bad news it does have its upside as they are only about 5% in the UK and reducing. Every time they post large profits (even if generated from commodities trading) there are calls for the WFT tax to be tightened, more O&G companies reduce UK holdings, more has to be imported and Shell, BP etc supply this paying taxes at a reduce rate elsewhere.
As for Labour and proper WFT, just pure politics with no regard for how much harm it does to the UK. As I said before 75% tax on profits now or reinvest the profits then 75% tax on profits latter, either way HMRC get the money.
It is a clear the UK is un-investable especially in O&G with crazy anti business policies from both main parties.
From another board
Merger, story of pig and chicken, one day chicken says to pig let's merge breakfasts are booming, we will make a fortune, I lay the eggs you supply the bacon. Great said the pig, then he thought, hang on Mr Chicken you lay eggs everyday, I get carved up. That's why I called it a merger, not a takeover said Mr chicken
Looks like a what is happening/going to happen here. Hope not.
For Shell to sell Cambo, someone has to buy it. I think that would be a brave/stupid company in the current climate. UK O&G companies are going to get ransacked by HMRC for the next few years until the industry disappears or the government comes to its senses. I’d bet on the former. SQZ needs to start shifting overseas.
More reassuring today in that we have firmed up with the oil price. It adds some comfort that should oil rally we will also rally on the back of it.
From Telegraph:
"Shell is looking to sell its stake in a controversial North Sea oil field after Labour accused the Conservatives of failing to bring in a "proper windfall taxes" on energy giants.
The oil company is looking for a buyer for its 30pc holding in the Cambo oil project, its partner Ithaca Energy has said.
Cambo, which is the second-largest undeveloped oil and gas discovery in the North Sea, has been the focal point of many protests.
Shell has been rumoured for months to be looking for someone to take over its part. The remaining 70pc of the oil field is owned by Ithaca Energy.
In 2021 Shell scrapped its development plans for the project, putting its future into doubt.
Today’s announcement comes after the company made nearly $1.7bn (£1.4bn) more in profit than experts had predicted in the first three months of the year, with adjusted earnings rising 5.7pc to $9.6bn (£7.6bn).
Shadow chancellor Rachel Reeves said: "Shell reports £7.6bn profits for its first quarter yet the Tories refuse to bring in a proper windfall tax on oil and gas giants to freeze council tax this year, as Labour would.
"We'll tackle the cost-of-living crisis, and put working people first.""
I posted numerous times on here and advfn saying that had they all stuck together in the beginning we would not be in this mess. The idiots that went for the last North sea licences didnt help matters. Im sure it would have had an effect had they put up a united stance at that time. This tax is here to stay now at the very least. Let alone what could be added to it in the future.We might get lucky if oil prices completly collapse, but that would completly wipe out any profits anyway.
Just been watching Sky News and interviewer asking a labour Mayor what is Labour’s best Policy - answer is to impose the WFT. That just tells you all you need to know about ignorant politicians.
Meanwhile, even Shell boss now calling WFT unfair. Let’s get all the oilers and reduce production now and Keir will have to raid somewhere else.
We are scre...wd If the local elections are anything to go by. Serica really do need to do something quick and diversify overseas. Otherwise we will soon be un investible. For me i am seriously considering moving on if the shares can rebound a little . A nice spike in oil prices would help now.
https://twitter.com/BloombergNRG/status/1654301086784561152
Crude markets have suffered a disastrous few weeks, dragged down by alarm over the wider economy. But real oil demand still looks strong enough to foster a rebound in prices
Price Collapse Is Excessive and Physical market is ‘pretty tight,’ Shell CEO Wael Sawan says