The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Good point, do apologise on that however, I don't actually hold shares here so, do not care too much re what market it is trading on additionally, even if I did hold shares here I still wouldn't care what market it was on anyway because lets face it, its made little difference anyway. Would be great if you could touch on some of the points made though? and if you could include how it not being listed on AIM has made an impact it would be appreciated
Can you elaborate, I do not understand what the issue is with a large share holder selling their shares? Surely they will not hold onto them forever. As I understand it they got 24,000,000 shares at �1 each totalling �24,000,000 and sold them at �48,000,000? I fail to see why that isn't a wise decision? we would do the same no? Then there is the company, clear guaranteed production in the 10,000's, cash in the bank of +$200,000,000, revenue of +$18,000,000 a month and a clear defined strategy to increase production to 40,000 then, 55,000 then 75,000 and onto 100,000 bopd (which is a reasonable depletion plan). All the above makes sense to me, what doesn't make sense is your 'stronger sell signal'. Its investor mentality like yours that makes AIM so one sided not the market makers. I hear it all the time, "sell on good news", "fill yer boots" when news is anticipated, "sell when a large S/H sells" all poor form imo. And its gotten to a point now where, when there is a drill, it goes up in anticipation of a rig contract then drops each day until the drill is completed. AIM isn't manipulated by the MM or the crappy management of the companies, its the investors who think they are ahead of the market running it for everyone else.
23/21 b directly south of Lomond by around 8km, never had a well drilled. 22/24 f directly south of Marnock about 4km no wells in block 30/12 c directly south of Judy about 5 km no wells in block 30/19 within the same block as Affleck Interesting blocks, all next to major discoveries, just hope they actually go forward with meaningful exploration and do not sit on them for years as is the way with oil companies.
Undervalued! its madness, Brent above $80 today and its flatlining. Even my GKP has better sentiment than this one
The iPhone has once again predicted most of that text wrong! But I feel the main point can be interpreted
Personally. I see no point in selling up at this level. Oil is up, major drill campaign ongoing across oml40 and the company is heading towards 13,500 bbl net. All you have to do is visit the NDA website to see the have stated ‘attracting offshore installations and they even detailed the targets’ they are trying to shake the tree and targeting a minor oil producer won’t get anyone’s attention. Clearly ela is of no interest to them. The forcandos terminal will have significantly stepped up security, I imagine they will not want to go through that again! And putting a spin on it like ‘shell is an offshore major’ is ridiculous. Shell is a major whether that be onshore or offshore. Personally I wouldn’t sell a bean here, were talking 13,500 bopd for an onshore oil producer in a block that can produce 7,500 bopd from single wells! When you say it Alain it’s Ludacrous! Offshore they are paying 50 million for wells, tiebacks etc that priduce this... ela are bringing in a jack up and doing work overs at fractions of this cost. The only thing I don’t like is the company seems a little too attached to OML. I calculate that ela will be generating 140-170 million per annum at 10% royalty oil to government and 30% tax (unsure of tax in Nigeria but royalty seems correct from what I find online). It would be great to see them spread the operations sub Saharan but that may come in due course. Just my 2 cents ATB
tomorrow on trumps Iran section decision. Any ideas? I was expecting a rise on the back of that all going well but not the day before it. I don't expect it to impact the deal in the slightest but through there would be a psychological barrier for any rise ahead of it
Have to agree to NewKTOB. As stated this drill is completely free. Carries no cost to Serica and to have a major interested in carrying out this drill specifically in the NS speaks volumes... Huge upside for us on this with absolutely no downside. You should certainly reconsider your thoughts on this because its huge for us.
The market will believe it when it's too late as usual. We all sat here over a year ago saying an aquisition was coming, when it came the market was far too late to get the major gains, I'm 600% up here and looking for minimum a 10 bag... They were too late on Erskine, too late on BKR and will be too late on Rowallen... let them be late and we'll continue to reap the rewards Exciting times yet to be had
I believe they will be applying for blocks in the upcoming license round which will be fun to find out what we get! But I feel our next move should be to scoop up another 25% of Columbus if the development is going ahead.
Also where the hell are the profits from AJE?
Not good whats gone on here... I check in on this one every now and again. Had some great memories of sitting up all night watching the Mexica bigs going through. But thank god I ditched this one. Still the same old crap going on and people cheering on the low prices 'averaging down', it really is a bottomless pit of cash. Hope the long termers get their cash back, SO should by hung drawn and quartered after his performance here or at a bare minimum, never allowed to operate a field again. Good luck all
And the license will NOT be up for bid! common sense prevails on that. If the UK would sell a license to another operator, how much investment do you think we'll receive in the future... hence why nobody will touch countries like Venezuela and Argentina with a barge pole
Conkclo, your have no real point... its a processing issue at best (and one you don't seem to understand yourself from the poor explanation you provided) not a reservoir issue, the gas is in the ground and the UK MER policy will want to exploit the resource regardless Also Serica do not need US approval to operate the field. the only reason bp had to close the field was because of EU sanction. The EU has made it clear they do not stand behind trump with imposing sanctions. Serica will get the license to operate, same as ENQ got Magnus and Chrysaor got theirs. Outlay is clearly going to occur however, Serica will receive a hell of a lot of cash from BP on completion of the deal! essentially we will receive between 6-9 months profit on the handover date good riddance to bad garbage I say