Member Info for AimSurfer007

Challenge for the day. What different operator do you think would have remediated the issues seen with R3 on time and on budget? :)

With SQZ moving to 100% net cash from Jan 22 alongside columbus coming online I personally see 140p become the new support and sp moving close to 200p in 2022. Cash build next year will be amazing and that's without any potential game changing acquisitions. Each to their own, too many catalysts out there for me to worry about the 140p resistance.

Mate why you investing your hard earned cash into these dinosaurs, you don't see better opportunities elsewhere? Why do you remain a holder?

Or they could place it off market any moment.

If the ultimate aim here is a reduction in carbon emissions then surely local production is better vs imports from overseas. Restrictions on oil and gas exploration will only lead to increased cost which will benefit Serica. Demand for oil and gas not going away in the next 10-15 years.

I recall reading somewhere once that overseas registered holders don't need to notify. Is the blackrock holding registered in UK?

Oil price recovered strongly from the lows so I doubt the assets will go that cheap, but profit sharing agreement could work for both parties.

Growing cash pile will be there difference from sales and capex needed to maintain / boost production. Who here thinks production will be maintained without further investment. Nothing wrong with spending 1x on new wells and side-tracks to get 3x return. Oil and gas prices recovered significantly, let's see by how much cash pile grows this year.

Agree, if you listen to the December interview with Christina Anthony their asset were fully booked out pre covid and plans in place to expand and build new products. They streamlined costs during lockdown, additional business bolted on. Hopefully will have a decent recovery year in 2021 and fully booked out in 2022. Hopefully once restrictions are lifted they can provide some time of guidance and the rerate is on.

Speaking from the outside who sold out two years ago and now back in again I don't think they been lazy. Clearly they are looking for value and won't overpay. BP originally agreed to sell Andrew area and the Shearwater for $625 million to PMO, that deal eventually got reduced too $210 and still fell through. ENQ announced a purchase recently and no market reaction, I know they have other issues but the market doesn't think they got a great deal.

I like that they didn't take on debt to fund an asset for the sake of increasing production numbers. I'd rather they get the right deal and increase sp by 50-100% or if not available grow organically via R3, Columbus etc.

With BKR SQZ have proven they can take aging asset, reduce operating costs, reduce emissions, extend production life etc. With the focus on emission targets and the hype of renewable energy I feel majors now more inclined to sell of certain assets to help paint a transition picture for their institutional shareholders that they are transitioning to reduced carbon footprint.

I personally feel this is the year for a deal to be done, and if not the case then all good anyway as in Jan we're getting 100% cash flow from BKR. It's a win win for me and 12month hold to see what transpires.

I'll take those numbers. Eventually this will pop. The longer it stays here the more shares I can get my hands on :) Nso no complaints from me, but this is a new recent position for me.

Should be a great year for petrotal, petroperu raising 1billion is a great indication they will need to keep the pipeline operating and development of new oil fields is a must.

Won't disagree, very easy for the chairman to restore trust and get the sp back to 20p. All it takes is for him confirming be won't take excessive salary until the company is generating cash, provide clarity on monthly operating costs and provide projections of when the company will be generating cash.

Until that happens the market can only assume they are not generating any meaningful cash and chairman happily taking salary until next fundraise needed to pay him again.

The deal has an economic effective date 1 January 2021. So any post tax earnings generated from golden eagle will be used towards paying for the asset.

Importing LNG, Gas or Oil generates a lot more carbon emissions compared to local gas production. If the government is serious about reducing carbon emissions you tax all imports first. That would increase the cost of uk Gas and benefit Serica. Taxing uk production whilst allowing cheap LNG imports is idiotic. But hey it's politics.

I recall the CEO indicated in recent interview that a number of bids were made in 2020 but their valuation didn't meet the sellers. So it seems to me they are active just very selective, which is good. We don't want just any deal. The Andrew area and the Shearwater field back on the market again, after last failed attempt to sell BP might just structure another deal with Serica.

I'd rather they maintain cash instead of over paying for an asset and destroying shareholder value. R3 and Columbus coming online this year plus 100% of earnings from Jan 22. I'll take that from current levels. Plus could have a new acquisition if there is a deal to be done.

There is a lot of good the company did to get 3 projects to this stage but the issue remains their inability to provide accurate and timely guidance / transparency.

Unless they change that and very quickly the market will never value this stock appropriately.

Not against the idea but we should really get the consent or at least engage Ian before using his name in this context.

Tones can respond for himself but I believe this is his prior communications with management. If you look back at past comments you'll see both tones and I have been in touch with Edward who's looking after Investor relations and he has indicated to the both of us that the company will aim to be more active this year with investor relations.

This company clearly has lots going for it. Granted the price of gold has helped. Yanfolila paid for itself already and will be generating cash for at least 5-6 years. Kouroussa is looking exciting, Dugbe and that whole district could be a game changer. You have to give the company credit for getting here.

However the lack of transparency around recent setbacks and detailed implications on ASIC is not what I want to see. I'll be in touch with the company to share my constructive feedback and see what they respond with before making any rush decisions myself.