Member Info for jazbo

ID78 - the world, maybe.
But MATD are stated as sharing infrastructure and logistics with PetroChina's Mongolian affiliate which surely means covid delays impact on MATD.

Per RNS

"Discussions with MRPAM on oil processing, transport and sales options were concluded with their full support and we are now in discussion with PetroChina's Mongolian affiliate on the commercial details of sharing infrastructure and logistics. "
"PetroChina's export of Mongolian oil production across the border into China is also suspended because of the Covid-19 controls and there are no Chinese oil rigs operating in Mongolia at the moment."
"China is maintaining tight control on movement across its borders and there are currently no signs that these controls will be relaxed in the short term."

In April 2021 CEO said -
"Whilst we see significant benefits and potential in our existing portfolio we continue to look at new opportunities to expand our operations to diversify risk, provide new growth prospects and achieve economies of scale. We are confident that we have the resources to deliver this strategy and the platform to create additional value for shareholders."
Perhaps the BoD are getting too old to look for new growth prospects outside the Serica portfolio.

Declaration date 24 Jan 2022 (Mon) 15 Apr 2022 (Fri)
Ex-div date 10 Feb 2022 (Thu) 28 Apr 2022 (Thu)
Pay date 25 Feb 2022 (Fri) 13 May 2022 (Fri)

" In the event of a sale of the Company's interest in the Duyung PSC, the net cash proceeds of such disposal(s) will be utilised to first repay the capital and rolled up interest on the Notes and thereafter to distribute 20% of remaining net proceed(s) to Noteholders. The remaining net proceeds of any sales will be retained and/or distributed to shareholders by the Company"

Blingybird I would suggest that Telemachus is nearer the mark when he said "Value of $10+ per share will likely require a couple of years to be fully justified, however."
Further price movement could be expected after the Webinar and the hoped for success at Alkaid.

What a difference a year makes !
"Commenting on the results, Mitch Flegg, Serica's CEO stated:



"We are reporting solid results after a challenging year and a severe industry downturn. Despite the many obstacles 2020 presented, Serica has continued to strengthen its financial and operational foundations and also to deliver returns to its shareholders. COVID-19 caused disruption to global markets and threatened operations during 2020 but Serica responded rapidly to protect its personnel and ensure continuing supplies of oil and gas into the British market. The impact of a substantial fall in commodity prices during the year plus a 45-day shut-in of BKR production in 1H to repair a damaged caisson on the Bruce platform was mitigated by the flexible structure of the BKR net cash flow sharing arrangements and the Group's gas price hedging programme. This financial and operational resilience enables the recommendation of an increased dividend of 3.5 pence per share."

"The Company has now suspended testing of the LBFF formation due to the onset of a severe storm in the area.
Testing operations are now suspended due to the extreme weather, with a possibility that testing may resume if the conditions improve before the conclusion of the Arctic operating season."
Patience!

I would suggest you may find it useful to start by checking posts by Telemachus on Discord.

Old Hebredian your action has done the MATD sp good, please sell the other half of your holdings !

"Production from Bruce, Erskine and Columbus has consistently averaged over 10,000boe/d net to Serica so far this year. We expect these rates to continue during the Rhum shut down and we will look for ways to optimise the Bruce production rates during this period.""

to get 15k production means someone must have pulled their finger out. Long may it continue.

Could be another 12 months before a decent dividend, once the BoD have stocked up on those 'options'

As we already seem to be running on fumes then any other interested party is presumably well placed to drive a hard bargain. PC would appear to have little wriggle room!

"Fundraising

The Directors prepare annual budgets and cash flow projections that extend beyond 12 months from the date of this report. Given the Group's cash position at year end (£371,740), these projections include the proceeds of future fundraising necessary within the next 12 months to meet the Group's overheads and planned discretionary project expenditures and to maintain the Company and its subsidiaries as going concerns. "

Current sp will now cause further dilution when the next placing occurs.

Nick It is pleasanter with ripley on filter

So for over 12 months the company have gone down one avenue which turns into a cul de sac, PC must be questioning his own decision making.

great news that the large drill rig is being moved. sp already reacting

Malcy perplexed as usual -
"What I can’t understand is why the market is yet to take this on board, the shares had a good run up last year and more than doubled in the second half of the year. Since January the shares have fallen and at a time when both parts of Chariot have been delivering on the promises in a favourable market doing exactly the reverse of what I would expect. I said before that Chariot was a multi-bagger and I havent changed my view, if anything at 8.8p the shares are incredibly cheap"

Mitch Flegg, Chief Executive of Serica Energy, commented:



"This is a frustrating event, but I am confident our skilled teams onshore and offshore will safely and efficiently implement the required repairs using equipment and plans already in place to deal with such a situation.



Production from Bruce, Erskine and Columbus has consistently averaged over 10,000boe/d net to Serica so far this year. We expect these rates to continue during the Rhum shut down and we will look for ways to optimise the Bruce production rates during this period."

Delito
The deadline dates is on the PVE consultancy website