Member Info for flexmw

BP finished up circa 8%.. results & announced 2x share buyback programmes, one of them to offset the dilution caused by shares awarded under their LTIP schemes… now if only our Bod thought a little more of their shareholders… (jokes)…

Genuine question to the more knowledgeable…. has Serica pretty much ruled itself out of carrying out share buybacks for the foreseeable future, if it were to buyback 10% of the stock in the company & cancel them, which it is now permitted to do so, would this increase the Mercuria holding percentage ie getting closer to the 30% mark, also knowing shareholders views on the percentage given to them already…

The PR is moving up a level….

https://twitter.com/sericaenergyplc/status/1622856224742993920?s=46&t=al5hxjGFZI4asORlwuDLRw

What a dire tweet !! they couldn’t even upload a snazzy photo….. the tweet is as flat as the update!!

Operations Update:

Mitch Flegg, Chief Executive of Serica Energy, commented:

"The production performance of both the Serica and Tailwind portfolios has remained strong despite some extremely challenging weather conditions during January. There is an exciting investment programme of value-adding activities throughout 2023 which has started with the work to tie-in the Gannet GE-04 well. I look forward to updating the market with results of this programme as data becomes available."

Apart from MF’s comments, a pretty underwhelming flat update in my opinion, can’t see it having any effect on the current share price situation….

Anyone have access to Peel Hunt Broker notes? I read that they put out a broker note yesterday, 437p target share price if correct….

Energy Voice article, nothing not already known :

Serica backers readying for crucial vote on Tailwind acquisition plans

https://www.energyvoice.com/oilandgas/north-sea/477808/serica-backers-readying-for-crucial-vote-on-tailwind-acquisition-plans/

Upomega

You’ve been here long enough to know Serica has a non existent PR team…… Flegg has only just recently learnt how to tweet.. & I very much doubt he’s the tweeter when his account tweets…

PR is useless… they don’t think they have a need too…

Capricorn CEO, chair quit board in victory for restive investor

https://www.energyvoice.com/oilandgas/africa/ep-africa/477628/capricorn-board-activist-palliser/

For the first time in a while Gas is providing ~ 58% of supply for electricity production..

https://grid.iamkate.com/

NBP DA currently circa - 172p per therm..

Also fears of supply/demand issues later today :

https://twitter.com/nationalgrideso/status/1617198372884205568?s=46&t=r4R5ad9yrdTbWmd8eOUaeA

Mitch Flegg, Chief Executive of Serica Energy, commented:

"Once again we have secured a prompt renewal of the OFAC License for a period of a further two years. We are grateful to the UK government and regulatory authorities who have supported us in this process.

The renewal of this License satisfies one of the Completion Conditions required for the acquisition by Serica of Tailwind Energy Investments Ltd."

Very timely…..

Slightly off topic…. bids closed for potential buyers for Hurricane Energy on 7th Jan .. not saying any links but more of an interest in how that one plays out…

I think it’s fair to say Newkotb, that if that part of the deal changed (which has been stated before) .. the percentage being handed over to a size ie 20% stake (or less) & the share dilution sorted out more favourably, a lot more shareholders could see the potential future benefits… if Mercuria are that keen the Bod should be going back to them & act on shareholders interests… which obvs leads to the question ‘why aren’t they?….’.

Here’s a link to a second Jeremy Raper podcast (if you haven’t had enough already!!) not as detailed as the first but covers a couple of other points..

https://twitter.com/andrewrangeley/status/1616203238998433792?s=46&t=Xms1wt2rqiTNV-pvuG0zuA

Well worth listening to, echoing what’s been said here not just on the current terrible deal, but the thoughts of many of the appalling inaction of the Bod over the last few years…. he (they) has had the same thoughts…. no deal since BKR, no share buy back when the opportunity has been there, no increase in dividends (of serious worth) no special dividend…. all in all - pigs in the trough & total shareholder destruction…

From Harbour Energy trading update :

We remain committed to playing an important role in the continued supply of reliable and responsible domestic oil and gas in the UK. However, while oil and gas prices have reverted to more normal levels we still face a tax rate of 75 per cent in the UK due to the recent tax changes, making investment in the country less competitive. As a result, the EPL necessitated a review of our future activity levels in the UK and reinforced our ambition to grow and diversify internationally.

3x more additions to the thread by Alex Stahel in relation to the Kistos offer :

https://twitter.com/burggrabenh/status/1615770145653415937?s=46&t=qzY-FR4Lm-zrDdjz6mzdBA

Raper on twitter in regards to Stahels numbers, directly to him :

https://twitter.com/puppyeh1/status/1615526580671086594?s=46&t=b9-YzcNYqr17hdtISkS-zA

Plus small exchange with Wshak who calked it a duff from the start :

https://twitter.com/wshak1/status/1615653708976603136?s=46&t=b9-YzcNYqr17hdtISkS-zA

Isn’t the renewing of the License one of the conditions needed to be met for the deal to proceed?..

I’m sure I read this on here yesterday from Alex, surprised & personally feel unlikely:

Ironically I‘d not be surprised if Mercuria withdraws from the merger, if they can

https://twitter.com/burggrabenh/status/1615387551405334528?s=46&t=NmmsNS3m05Q4Iu9yHsGzAA

Just posted: The Serica acquisition of Tailwind looks like terrible value for existing shareholders if it goes through

Share Prophets - Gary Newman article out today, i’m not a subscriber but if anyone on here is & able to share?

Alex has always been an advocate of share buy backs over dividends, on the previous tweet at the weekend he was critical of management allowing the share price to get to where it is, criminal ….. and from todays :

The argument can then be followed up by requesting mgmt to buy back shares with £450m of cash. We agree.

But you see, SQZ can buy back shares pre- or post merger too with US$1.1bn in cash (£640m net cash) by year-end 2023.

I'm sure the new directors understand that.

Just had an email from Proactive One to One.. Scirroco Energy are presenting…. Thursday 26th Jan, from 5.45pm …