We would love to hear your thoughts about our site and services, please take our survey here.
Each to their own, good luck with your new investments.
Today's RNS informs us that Stephanie Bruce - CFO has joined the Board of Phoenix Group. I would respectfully ask Stephanie to get the distribution of the January 2022 Phoenix Group share sale proceeds sorted before spending her time at Phoenix Group Board Meetings.
Message to Stephen Bird - an update on your "Turnaround Plan" would be appreciated.
Topped up @ 1.87p this morning, I did not think this will fall below recent placement price.
Long term hold for me.
GLA
I prefer the "glass half full" approach and hope the next piece of news is good, perhaps a positive update on Mr Bird's "Turnaround Plan" or even an update on the distribution of the Phoenix Group share sale proceeds (generated in January 2022 !!!).
GLA.
Until Shell and Total release detailed information on Graff 1 and Venus 1 oil finds, GBP will be in limbo in my opinion. The good news this week was the confirmation that PEL 94 is going to extended for another year.
Patience required here.
GLA
28 April 2022
Further to the announcement released on 27 April 2022, BP Exploration Operating Company Limited ("BP Exploration") announces that it has sold its entire shareholding in the Company, being 13.5m ordinary shares (the "Placing Shares"), by way of an accelerated bookbuild (the "Placing"). The Placing price was 365 pence per Placing Share, raising gross proceeds of approximately £49.3 million.
The Placing Shares represent approximately 5.0% of the Company's issued ordinary share capital. Serica Energy will not receive any proceeds from the Placing.
The closing of the Placing is expected to occur on 3 May 2022.
Jefferies International Limited acted as sole global coordinator in connection with the Placing.
harel - as you have evaded the question, we can only assume that you don't own GBP shares and that you do not rate GBP to be a Buy stock.
Thank you.
I guess your expectation of whether GBP will or will not farm out during the next 18 months is moulded by whether you own GBP shares or not. Harel, do you own GBP shares?
GLA
Charlie2021 - I have to give Geowiz credit, he/she has deramped GBP for over four years and probably exhausted the Share Derampers Playbook. I suspect that he/she has purchased GBP shares by now because he/she quipped last year that if a share price fell enough it was worth a punt. The other share that he/she deramped was BLOE (another micro cap AIM Oiler) but he/she appears to have gone quiet, maybe a position has been taken.
I may have spoken too soon because Geowiz could be back under another name.
GLA.
I don't think it will take Shell and Total 5 years to disclose what they found in Graff 1 and Venus 1, Namibia is on the verge of becoming an new oil frontier imho.
Perhaps Geowiz is back ......
GLA
Today's RNS destroys Geowiz's false narrative regarding PEL 94 not being extended, has anyone heard from Geowiz lately?
The issue for potential farm out partners is the news blackout on Graff 1 and Venus 1, Shell and Total are playing a very smart game by withholding information. Details of the oil finds will eventually be released, patience required imho.
GLA.
So you agree that success should be applauded and yet when a Serica shareholder post about their success you perceive that as being a "little crass", I hope you see the hypocrisy of your statement.
There appears to be a tone of resentment on this share chat page towards long standing Serica Energy shareholders who have made substantial profits, unbelievable.
GLA
sasa43 - Your second paragraph perfectively sums up my feelings. Back in November 2013 I thought that I was doing a smart thing by "averaging down" with Rights Issue shares, some 10 - 12 months later, I was feeling rather ill when the SQZ SP fell to 3p. I decided to "average down" again, not unfortunately at 3p but I spent all the cash that I had in my ISA & SIPP. You used the word "remarkable" that is the best description of my Serica Energy shareholding journey (which is not over !)
It unfortunate that we have had the vitriol from the likes of Upomega and others today, in my opinion success should be applauded not derided. Long term SQZ took significant risks in owning shares, now we are reaping the rewards it really is that simple.
Good luck to you.
Congratulations Mommur, I have been a SQZ shareholder since 2011 and it has been an amazing journey. Lots to look forward to imho.
GLA
If the SP hits £1.85 I will be topping up, the share is being shorted, I hope that Mr. Bird has some positive news on his "Turnaround Strategy" soon which will cause the Shorters to close their positions.
GLA
Was just offered 2.111p for 165k shares.....no thank you.
Just offered 1.922p for 165k shares, moving up nicely.
In to profit in my ISA and SIPP accounts but still under water in my dreaded Trading Account where I purchased Noricum shares, that 1 for 100 share consolidation was painful.
GLA.
Sales / Bidding processes are conducted under very strict protocols, I know this from experience having been through three Trade Sales during my career. Companies who have requested an IM will have been required to sign a Non Disclosure Agreement, the Seller / Entity seeking bids will be required to keep a "news black-out" whilst the Sales / Bidding process is underway.
Given the lack of information coming from Shell and Total regarding Graff 1 and Venus 1 oil finds, I would not be surprised if GBP did not secure a farm out partner by the end of this month. Potential farm out partners were expecting to hear detailed information on what Shell and Total actually found during their drilling campaigns. The important thing for me is that contrary to what Geowiz has been spinning recently, PEL 94 can be extended in September 2022. Sooner or later Shell and Total will disclose what they actually found in offshore Namibia, I expect that will be the catalyst which will encourage Farm out partners to sign agreements.
GLA.
Excellent post Phoebus...
I see that Geowiz has been causing mischief here again, he/she has recently been completely discredited on the LSE GBP Chat Page with regards to the company's Namibian exploration licence (PEL 94).
Geowiz has probably consulted the Derampers Playbook and come up with the tried and tested deramp of claiming that a company does not have enough money and will need to raise capital, that might be a signal that he/she wants to buy some BLOE shares at a cheaper price.
Just click on Geowiz's username and you will see the targeted deramping of Aim listed oil shares, BLOE and GBP are subjected to the most deramps.
Good luck to all BLOE shareholders.
Can it really be that difficult to distribute £300 million plus to shareholders?
In 2018 Standard Life sold a Canadian subsidiary, I think over £1 billion was returned to shareholders via a 33.99p dividend, it was called a Capital Return because there was also a 7 for 8 share consolidation.
When the Board decided to approval the sale of Phoenix Group shares in January 2022, why did they not approve a mechanism for distributing proceeds to shareholders?