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Worth a quick read, the article by Kwasi is obviously dependent on Truss getting in, but reads positive to me NS wise if she does….

“We also need to maximise North Sea oil and gas production. Rather than slapping a punitive windfall tax, as Rishi Sunak has done, we need to incentivise investment in domestic oil and gas for our own energy security.

I appreciate windfall taxes are sometimes popular. But popularity won’t keep the lights on. We need to boost North Sea production, or we will end up importing more from abroad, exacerbating the problem even further.

Energy produced in Britain is by far the safest option, and that’s how Liz will deliver security, affordability and self-sufficiency for our country and our people.”

https://twitter.com/mos_politics/status/1561023524592132096?s=21&t=irOE-j82gM1gE61LKdI4KQ

Out of interest Soder / Shakey .. how long on average behind the scenes does it take to negotiate a deal before us shareholders know anything about it? …. calling them lazy etc .. you’ve no idea, the same as the rest of us what’s actually going on, maybe that’s exactly why they didn’t give the Kistos proposal any more time than they thought necessary.

On the reserves front, wasn’t the end of 2021 2P reserves actually increased on the previous year? also with the recent well interventions wasn’t a reserves increase on the cards mentioned because of this?

Futures certainly made a move up today :

OCT22 518.000 8/18/2022 3:52 PM 5.939 2115

NOV22 580.050 8/18/2022 3:55 PM 6.264 1720

December & January into the 600p’s per therm…. :

DEC22 627.760 8/18/2022 3:45 PM 6.820 1005

JAN23 621.210 8/18/2022 3:29 PM 5.841 720

Just came across this guy on twitter with his link to his analysis on Serica after apparently speaking with Mitch Flegg, mentions a couple of times that M&A would be away from the North Sea & possibly Oil .. worth a glancing read.. his own valuation & target price of 517p

https://twitter.com/carlos_moram/status/1558705454611681287?s=21&t=133VGzogGT8XxRbelXFziQ

https://moram.eu/

Futures moving up, October now knocking on the door of the 500p per therm door.. to join November / December…

OCT22 499.270 8/16/2022. 9:57 AM 6.397 340

NOV22 548.250 8/16/2022. 8:47 AM 3.598 180

DEC22 590.350 8/16/2022. 8:47 AM 3.315 200

Newkotb

Futures looking even stronger.. Sept/Oct circa £4 per therm.. but …

November futures now moved into the £5 per therm category… previously only December was at this level..

NOV22 501.430 8/12/2022. 3:44 PM 0.252 139

DEC22 539.440 8/12/2022. 3:26 PM 0.473 1200

Doesn’t the drilling of N’Eigg keep it in a closed period until results are known & made public?

Also, regardless of what us shareholders my think is appropriate, do we genuinely think that the bod would buy on the open market or even reinvest their dividends… there’s a big disconnect there that’s for sure…

I saw this link posted over on the other chat board, didn’t get around to sharing it until now, a little more info… :

www.nstauthority.co.uk/media/8201/serica-north-eigg-right-scoping-lessons-acces.pdf

JPM have added more : 4.77%

Ordinary Shares Purchase 72,936 3.6894 GBP

https://www.lse.co.uk/rns/SQZ/form-83-serica-energy-plc-60nd2828u9rufr7.html

We can only hope Maverick!

“The Serica board will maintain a balanced approach to deploying capital, including further capital returns, while factoring in the requirements for the ongoing business and opportunities for profitable asset and corporate deals."

A side from this & the ongoing topics of conversation, the frustration’s etc…. I email the board with my views, I know D220 does, who else does? some big holders on here, I presume you do… if not… why not…

Nice size trade showing up this morning:

10-Aug-22 11:06:29 362.00 391,379 Unknown* 1m O

Wouldn’t be surprised if it’s an institution adding as a similar amount to JPM on Friday (386,510)

Hi Chinch

Just thought I’d reread the proposal after reading your post regards the NDA, i’ve copied the paragraph below, but in summary as I read it, the NDA was suggested by Serica with regards to the combination where Serica takeover Kistos…
hmmmm
Serica's letter accepted Kistos' view regarding the strategic merit of a combination, stating that the Board of Serica "can see industrial logic in combining the portfolios of the two companies", and suggested entering into a "limited mutual exchange of information under a non-disclosure agreement" (the "NDA") to explore a transaction, with Serica's letter further stating, "we [the Board of Serica] further propose that the default basis upon which those conversations are pursued is that any combination would be affected [sic] through an acquisition of Kistos by Serica".

The Hardy’s are in for another 50,000

Share holding now : 28,611,803 10.52%

https://www.lse.co.uk/rns/SQZ/form-83-serica-energy-plc-b3okrcjgohhpb56.html

Oilman

You haven’t a clue who will back it & you certainly can not say the Hardy’s will..

Take AA out of the equation, tell us what Kistos has to offer that Serica doesn’t already do or have but better?? i’m interested to know…

So the last couple of days the Hardy’s have registered an additional 100,000 share purchases, I saw on the other chat board that the number was higher, i’ve checked & it is the case, as per the Serica shareholder list 30/06/2022 the Hardy’s held 28,291,929 shares, 10.4% of the company, the latest form 8.3 today, has them holding 28,525,553 shares, 10.49% of the company, an increase of 233625 shares, so over double what has been generally noted..

https://www.serica-energy.com/shareholder-information

https://www.lse.co.uk/rns/SQZ/form-83-serica-energy-plc-tnmo9fo89dp0bgx.html

The Parkmead Group plc
("Parkmead", the "Group" or the "Company")

Launch of Greater Perth Area farm-out
Parkmead, the independent energy group, provides the following update on its interest in the Greater Perth Area.

Greater Perth Area farm-out process

Parkmead is pleased to announce that it has engaged a leading energy corporate finance advisory firm, Gneiss Energy Limited, to manage the process to find a suitable partner (or partners) in relation to the Company's 100% interest in the Greater Perth Area ("GPA") development project.
The core Perth field holds approximately 55 million barrels of recoverable oil equivalent ("MMBoe") on a most likely, P50 basis. The wider GPA project has the potential to deliver between 75 and 130 MMBoe on a P50 basis and could provide material value-adding volumes to surrounding infrastructure through field life extension.
GPA is one of the North Sea's largest undeveloped oil projects and has been fully appraised, so no further appraisal drilling is needed. The constituent fields have been flow tested at rates of up to 6,000 barrels of oil per day and have produced good quality, light crude oil of between 37° and 32° API.

We already have connections with Parkmead with our interest in Skerryvore…

I find the Hardy’s share purchase quite interesting, or more so the timing of it, is it a show of confidence to the bod & Serica? the recent dividend payment to them would of cleared their initial investment, so certainly not a need for them to do so, & I’d be surprised if it’s to benefit from the Kistos proposal…

Hardy’s have declared their holding, must be at the last moment for them ..

28,420,553 10.45%

A definite No from me, there’s nothing further in the proposal that makes it anymore viable.

Email sent to MF with my view…

Just looking at holdings etc on the Serica website, they have a whole section relating to the possible offer if anyone wanted to take a look :

https://www.serica-energy.com/possible-combination

Interestingly under rule 8.3, any person who has an interest in 1% or more have 10 business days to declare their position, so basically by 3.30pm on Tuesday (if i’ve got that correct) so we should see something from the Hardy’s on Monday/Tuesday…