Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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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/
Unitman, fundamentals for Serica have been very strong for a long time but two factors have impacted our share price.
Like other oilers, continually changing taxation has impacted our profit, caused a lot of uncertainty and damaged confidence. This is not yet resolved since Labour are promising to make taxation even more punitive if they win the GE.
Secondly, the Tailwind acquisition made a lot of sense in terms of growing production, giving us a better balance of gas and oil, and giving us greater operational resilience, but we paid a very high price.
A management update is due very soon when I hope we will hear more about company strategy, specifically how the company will continue growing (through overseas acquisitions I hope), how the tax losses will be used to boost the balance sheet and maintain/increase dividends, and how we will respond to a Labour government and the additional tax burden that is bound to be imposed.
I hope our SP has bottomed out but I've said that a few times.
Just read malc'y bucket list, which gave serica a glowing report. so I then looked at the production and saw the huge increase since 2022. and then read you comment on Tailwind ... so did some research... by the looks of the deal Serica paid £620 million if you take into account the debt as a cost. plus a 25% loss in the enlarged company to Mercia. Holy cow.... all for 23000 bopd extra.. did I read that right. question is what is the extent of the tailwind tax losses that cann be used. and will they be usable against the North sea profit levy. I am looking at thiis for myy ISA starting Monday.
NS related & Serica get a mention…
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/551457/table-the-20-firms-commanding-the-uks-north-sea-oil-and-gas-hubs/
A couple of large late trades reported :
09-Apr-24 16:06:53 196.00 565,719 Unknown* 1m O
09-Apr-24 16:07:46 196.00 565,719 Unknown* 1m O
COSL rig heads for UK to kick off Serica Energy campaign
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/551451/cosl-innovator-rig-serica-energy-uk/
Historically, the Y/E results should be sometime this week - sasa.
The final dividend last time was 14p
So a final dividend for 2023 of less than 14p will be a cut in the dividend
And when are the final results due anyway?
The Serica website does not even say when the final results are due
They do not seem to be very concerned about their shareholders
Https://www.telegraph.co.uk/business/2024/04/07/death-of-north-sea-oil-disaster-for-britain/
Seems far off for now....
If they cannot justify it then fraud must have taken place . If so maybe some us investor could investigate as i am sure they would not take it lying dowm. inmo.Unlike our woke brigade that seems to be running every part of our society now adays. inmv dyor and only if you appear to be over twenty. inmv
It was assumed by many that the tax losses justified the extraordinarily high price paid for Tailwind. However, 1 year later it is not clear if/how they can be used to benefit the enlarged company, and we are still waiting for a proper explanation. The share price has dropped 30% since the deal.
"question is what is the extent of the tailwind tax losses that cann be used..."
We will all find out very shortly with YE report. The effect of these 'wonderful deal making' tax losses will of had 9 months to feed into our combined results, ( plus 3 months from TW itself) so they had better be good.
DT you should of been here during this fiasco unfolding as there was a plethora of helpful and factual posts, needless to say, will the chickens come home to roost or will they start to lay these much promised golden eggs !
PS Just off the Sainsbury's to buy some eggs, golden yolk if I can find them, otherwise I could be left will just an empty shell !!!!
aimo & dyor