Stephan Bernstein, CEO of GreenRoc, details the PFS results for the new graphite processing plant. Watch the video here.
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Yes, but with plenty more waiting in the wings.
Weren't they due to expire?
Still stick with what i said last week, and the fact that Directors have exercised their options is a further indication of their short term approach and 'everyone else can f**k off' attitude:
"'However, following the 2022 year-end, the directors said they became aware that a filing in respect of certain dividends paid in 2022 had not been made as required under the Companies Act.'
This seems very convenient. I wonder if it had been declared whether it would have had a bearing on the deal going through or not? Would really like to know who benefitted, how much and when? I smell a rat or five. If you remember the Tailwind mob formed holding companies and paid themselves ~£100m in divis during 2021. Did they do the same in 2022? If we'd known about this would it have affected things? I think so. This should have been mentioned at the time and the full detail known. Also remember the loan stayed in place pretty much during this time.
I hope I am way off the mark, but if you smell a rat it's probably is one."
Excellent day today around inmv. Keep the good work up. Happy to see this go for three great British pounds. Providing the 14p divi is added in as well.
Maybe hmg could learn something from those ar....bs and ruskies. Way to go woke Britain were getting there. Inmho.only my view and no one else's .apart from chuck green.
Not so much “trust” Banbury, but perhaps less outright suspicious of them? I don’t know them so cannot properly judge.
Norma - the mystery could be solved by Tailwinds closure account being filed. They will delay that as long as legally possible.
They will also need to come clean on the dividend at the AGM.
I know you trust these guys but most on here don't. The two could be connected so large Tailwind dividend to holders contrary to merger agreement is my bet. Time will tell
Nicely played NewK. Deserve much applause for that one.
The biggest concern here inmv is that the just stop protesters will try hijack the presentation and do the presentation themselves.
Sasa, SQZ has morphed into a weird hold for me atm.
On the one hand, we have Mitch who would have problems completing an acquisition from McDonalds , then we have (imo) the real driving force behind SQZ now Mercuria’s henchmen are onboard (literally).
Will another deal be completed anytime soon, I would say so … will it be transformative, hope so for the benefit of SH’s.
Aimo and dyor
“ Rather like a Bushtucker Trial…”
At which point you are presented with a load of b o l l o c k s.
Aimo and dyor
The contents of the ‘lost box’ would only appear in the financials of the enlarged entity. Unless they make an exception, interims will be our first opportunity to peer inside. Rather like a Bushtucker Trial…
Hi NewK - I've not missed anything regarding it yet, then, thanks - not that I'm holding my breath about it, mind, or anything else surrounding Serica these days, tbh...
That it remains very cheap statistically is a given but it needs a more dynamic management approach in today's circumstances, something we've not seen, post BKR - a long time ago.
A surprise move overseas is the obvious solution to lessen the increasingly uneconomic involvement with the NS nowadays, as we all know but this requires imagination which our BoD isn't noted for in recent years, unfortunately...
Difficult to quit such a cheap share so near the trough, though, I must admit... sasa.
Think, someone has lost the key Sasa, not to mention Mitch losing the plot ( until we are proven otherwise)
With EPL , NS producers are painted into a corner until major changes occur, or divergence into other regions / income streams.
Aimo and dyor
I wonder if the 'locked box' will be opened by then? I've not seen any specific reference to it so far, although I might have missed it being preoccupied with other things of late...
With Serica yielding almost 10%, it must be one of the most appealing income producers available right now, quite apart from anything else; just shows what the mkt makes of the sea change in perception towards us this past year... sasa.
Most companies would stop investing in the UK yes, not Serica though. As long as Mitch gets a salary he will invest in anything in the North Sea.
I'm not sure if this is good or bad that the review got voted down. Would a fair and unbiased review (not that we could at all count on it being fair and unbiased) not show that removing the allowance would be absolutely catastrophic for UK oil and gas production and therefore energy security and energy costs?
I guess this is what they mean by a "proper windfall tax".
The obvious consequence would be total withdrawal of oil and gas companies from the UK.
While our politicians happily bankrupt the country to reduce global emissions by less than 1 percent, they ignore the hideous, unsustainable population growth in other parts of the world.
With the Red Tories in power and the prospect of a proper socialist government imminent, the UK is rapidly becoming uninvestable.
Were you aware of this?
This week Labour MP's pushed for a review into the effects of removing the investment allowance and lost the vote in parliament by 230 to 290
https://www.theyworkforyou.com/debates/?id=2023-04-18a.211.0
Storage Nov 22 1174 twh, current storage 693twh, mild winter and reduced demand helped but for the EU to get to this full status they need to refill at 2.15 twh a day not 0.72 a day as they currently are...... worth keep an eye on this.
......."In the case of the Chief Executive Officer a portion of the New Shares have been sold to cover the Director's tax liabilities which have arisen as a result of the exercise"...........
.........Mitch has to be careful - can't be seen to be having any of his own money invested in the Company...........
I picked this up from advfn
It is worth a read inmv and possitive for Serica going forward. It may also be the reason why Chuck is so possitive on Serica.It certainly looks the way forward inmv and makes more sense now with regards to the Tailwinds acquisition.
https://www.energyvoice.com/oilandgas/north-sea/496453/further-life-extensions-to-bruce-possible-with-serica-eyeing-nearby-opportunities/
I would be surprised if it does ,Chuck Green has recently put this out as a buy recommendation.
Wouldn't be surprised if this tanks further tomorrow.
Mitch truly is the worst of all of them.
Talking of Directors & skin in the game…..
London, 19 April 2023 - Serica Energy plc (AIM: SQZ), a British independent upstream oil and gas company, confirms that options over a total of 1,897,637 new ordinary shares of US$0.10 each (the "New Shares") were exercised under the Company's 2017 Long Term Incentive Plan (the "LTIP").
Of the options exercised Antony Craven Walker (Chairman), Mitch Flegg (Chief Executive Officer) and Andy Bell (Chief Financial Officer) (together the "Directors") have exercised options over 249,306, 249,306 and 152,907 ordinary shares respectively under the Company's LTIP. The options exercised by the Directors were granted on 25 May 2018 and were due to expire in May 2023.
As set out below, the Chairman and Chief Financial Officer have elected to retain all the New Shares to which they are entitled and to reimburse the Company for the PAYE arising, amounting in aggregate to £432,986.92. In the case of the Chief Executive Officer a portion of the New Shares have been sold to cover the Director's tax liabilities which have arisen as a result of the exercise. In each case the remaining New Shares have been retained by the Directors.