Member Info for DennisThePennis

I’m sure the current workforce is very professional and capable but someone asked a good question about integration. With two acquisitions to handle in 2026, and potentially more to come, a lot of consolidation and integration work is in the pipeline. Chris Cox acknowledged that it will require a lot of work but added that “it’s not rocket science”. I know from experience that integrating three companies is indeed a lot of work, it can be very complex, it can pull a lot of resources away from operations, and it shouldn’t be underestimated. This is something they will need to manage very carefully in 2026.

Seems like a great deal.

Low capital outlay.

Decent boost to production and cashflow.

Lots of infill development opportunities.

Very low decommissioning liabilities.

Being acquired via two legal entities with large tax losses, hence low tax liability.

Surprised about the modest SP reaction so far.

The planning horizon for a large E&P company is a lot longer than 3-4 years.

Indeed it seems to contradict their narrative about the UK being a terrible place to invest. I guess they may be playing the long game, anticipating a change of government in 2029.

Get some counselling

Another depressingly accurate article, but I don’t think it matters what is published by industry. Clearly none of it reaches Starmer who lives in his own little world, isolated from reality and fed on choice news snippets by his advisors.

A more effective approach is for the industry to collaborate with opposition parties at Westminster and Holyrood. Losing elections will get Starmer’s attention.

First Shell spun off their UK operations into a separate company with Equinor, and now Total are doing the same with NEO.

I guess it allows them to dramatically reduce their UK footprint and makes disposal easier in the future.

Perhaps a similar deal would make sense between BP an and Serica. Wishful thinking.

It's the Scottish parliamentary elections next year. If the SNP want to secure votes, they have an ideal opportunity by supporting the oil and gas industry, standing up for Scottish industry, and protecting Scottish jobs.

At the very least, Scottish voters can send a clear message to Westminster.

If the SNP secure a majority at Holyrood, they will start pushing for another independence referendum. Even Labour wouldn't want that.

Industry leaders should forget about influencing Labour and start talking to the SNP.

There have already been many petitions but the government hasn't been listening.

To save the industry, I believe all operators need to take coordinated action and stop production for one day per week. If the government still doesn't listen, after a few weeks it should increase to 2 days, then 3 days. The resulting power cuts will soon get the public's attention.

Obviously this will hurt financially but it will hurt the government more.

A few things have knocked investor confidence lately but if they can grow and stabilise production, demonstrate Triton's problems are in the past, follow through with some of the organic growth opportunities, and shift the company's listing to the main market, confidence will gradually return. I think a £3+ SP is feasible but they can't afford to keep dropping the ball like in 2025.

As expected, the government has decided it doesn't want to support the UK O&G and prefers to import hydrocarbons.

It's a purely political move which will come back to haunt them, but it gives them an easier life for now.

UKCS operators must now decide how and when they will exit the UK. For Serica, there's no mad rush thanks to tax losses that they can use for a few years, but their long term strategy should assume it's not going to get better.

Biggest load of BS I've ever read. Clearly the work of a late career civil servant.

Hoping for the best tomorrow but expecting the worst.

After the lengthy industry consultation and all the media commentary about the disastrous energy strategy, one would hope the morons at Westminster might appreciate the need to change direction, but given their track record I'm not confident. This government listens to protest groups more than they listen to the experienced business leaders who provide the country's energy, jobs, tax revenue and growth.

I hope I'm wrong. But probably not.

Like the Milibands, the Mountbatten Windsors live in a little bubble isolated from the real world, their opinions given to them by globalist left wing academics. I'd like to see these people practise what they preach and reduce their personal carbon footprints from the level of a small town.

"Have those morons in Whitehall leaked EPL changes are a 'NO GO', really hope that's not the case !"

I wouldn't be at all surprised.

The 'optics' wouldn't look right. Better to plough on with the UK's deindustrialisation. Maybe the plebs won't notice for a couple more years.

At last, we can close down the North Sea and import all that nasty oil and gas from Russia. What could possibly go wrong?

Jackarmy, are you having a difficult childhood?

An excellent discussion raising some important points but I doubt any of the dunderheads in this shambolic government will listen.

Neo have been much more aggressive than Serica over the years and now they're reaping the rewards. Serica sat on their hands too long.

Hopefully (once again) there are more deals to be done and Serica won't get left behind if/when NS investment conditions improve.

Glad I didn’t buy more. Seemed too good to be true.