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Take a step back before the BKR deal, If the RNS stated just Bruce and Keith it would still have been considered a good deal on the same terms, minimal cash outlay, sharing future gains. Even if Rhum was included with knowledge of the drama we have at present it would still have been a welcome addition. Rhum is in the North Sea, our domain, Not Iran. The deal will proceed, albeit the terms may change and it may not be as good as we had hoped as Rhum is the cash cow. But there is still a chance it might pan out. So holding until September for the reliable Erskine income 35p -40p share value alone. Bruce & Keith without Rhum 50p , potential Rowllan and Namibia 55p Rhum hope value 60p . BKR . Completion of BKR Rhum 1, 2 and 3 �1.20 +++++. Quite rightly Investors are hedging the possibility the BKR will fall through Leaving Serica without income until September. Worst case scenario it will still be 40p September. In the Short Term it could drop to the 40s, but with positive news it could be back in the 80s. 50 to 60 seems about right for now. Either way there are good returns to be made trading the spikes and from long term investment if your gonads are the same size as Mr Hardy !

Never got on with calamari, rubbery in texture always repeats on me , terrible wind, very bland a very limited aquired taste ....

I'm not asking you to take my advice Calamari , its a discussion board to voice differing opinions. Please voice yours. Lets face it if the deal does go through now there will always be apprehension with Iran as a 50/50 partner. Kind of like dream dating the most beautiful girl in the world...but, every meal, every trip to the cinema, every shared bedroom moment ------- your father in law is there sat watching every second. Nice to start with !!!

Before the BKR deal the share price hovered between 27p and 32p, When Erskine production ceased for pigging 21p to 23p. I further understand the current income from the BKR since January is held by BP to be paid over on completion.No Deal No income. Serica does have hope value, Rowllan coming on, Erskine pipeline resolved September, possible Namibia deals and the BP connection for future acquisitions.Also a benefit - the large holders have sticky fingers! But we knew all this before the BKR was mentioned. Valuing potential is the problem here. Without income especially without Rhum we could drift to the late 30s. I conclude its not cheap until it gets to these levels , now its 50% overpriced.

180 days before the full force of the sanctions kick in. USA skilled labour and patented heavy plant machinery is required to operate Rhum fields. I doubt these services will be forthcoming within this time frame.In consideration Rhum 3 will be left dormant. Rhum is the cash cow, severely effects the viability of BKR deal . Erskine is none producing. If the BKR does not complete , zero income until the September alternative Erskine pipeline is completed hopefully on time.The increase from None producing Erskine share price of 21p to the dizzy heights of 70p based on hope value the BKR deal will complete. I see nothing but a swift drift downwards until clarity prevails. Telegraph and BBC news confirm the deal is in jeopardy, BP would rather RHUM stay dormant than upset its American relationship in relation to other producing assets. I expect the deal will be revoked and a sweetener offered to Serica in the form of other assets inc Bruce and Keith. I think with hope value we will be down to 45p and even then I would not be comfortable. Im out but poised for the bargain this will become.

You don't need to sell Serica to me , i'm still heavily invested and have been since it was just 5p, Not shorting , just asking as a little concerned not wanting to lose terrific gains. I have done my own research and agree its drastically undervalued. Rhum 3 is 50% owned by IOC. My conclusion , Serica is not enjoying the larger gains like other OILERS due to this risk. If I can get confirmation I will top up another 500k shares A little touch NewKOTB, are you all in ? or had a bad day ?

The 3 Rhum Fields producing the majority of BKR income are 50% owned by the national Iran oil Company' IOC' I sold part of my holding this morning 125k shares to hedge against Trumps unpredictable stance in relation to the 12th May deadline he set for the EU to seek agreement for further assurances. Can anybody shed light on the worst case scenario being, the US withdraws from the current deal, Mrs May and Macron stand shoulder to Shoulder with Trump the end result being cease of production at the Rhum fields. I am aware Rhum provides 5% of uk Gas and the fields have been producing while sanctions were in place and the IOC revenue ring fenced by the UK authorities. My concern being Iran have none of the proposed assurances , Trump withdraws, EU stand by Trump. Tougher sanctions resumed and production stops. Resulting In the BKR deal not completing , and Erskine not producing . Anybody else concerned or have any info in relation to this concern ? Is their any assurance production will not stop regardless of the Iran situation ?

The market cap is immaterial here . The £900k cash is sufficient for the deal that will be announced early January, fin tech block chain partner secured on precious metal I have heard . This will take off in a big way, aim shell was required swiftly , fasten your seat belts and enjoy the ride !