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Slow crawl back to normality.
2.90 is still very low compare to NAV.
Just have to wait - next news coming will highlight the transformation in revenue for Q1 2021, then the market ought to sit up and think more about this one.
We'll be at 5p+ once the seller confirms they are done - that's just the value of the company assets.
With a reappraisal of assets upwards (depending on oil prices) possible before the official accounts are completed... things could look even brighter, and get closer to the broker 6.4p valuation.
Kulczyk Investments SA are my guess at the recent selling pulling this SP towards almost half the NAV at 5p.
They had 8% of the share total, so we should get an RNS with an update if it's them fairly soon, given the quantities sold over the last couple of months.
Once they've cleared - we go back up quickly. Always the same. Just have to have patience and let time do its thing!
The oil price drop last year forced Serinus to account for impairment cost (value of the assets had to be reformulated), resulting in about £10m being subtracted from the accounts. That impairment will one day become an asset reappraisal as oil and gas prices rebound. When that day comes, the accounts will look super-healthy as Serinus is sitting on a lot of assets and is a low cost, low risk producer.
Accounting is a weird world.
This is year looks better already with Brent around $60 and likely to rise as we get on top of covid and gas prices doing well too.
“We anticipate a slowing in our rate of UK progress from around May as a result of tougher comparatives and a likely shift in consumer spending to out of home as the country exits lockdown measures.“
That’s a slow down prediction.
Ok, growing is still possible but slower growth?
Any idea what is meant by “tougher comparatives”?
Is that increased competition or recursion in household incomes expected...?
What do they mean!!??
Anyone know what the reference to reduced sales expectation in May refers to? Is that lockdown ending and spending on the home reducing or some other event?