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I guess the KIST shareprice is more impacted by any negative news, the number of shares in circulation is a large magnitude smaller comapred to SQZ. Some of the acqusitions havent quite delivered for one reason or another. Also surprised that KIST havent diversified away from North Sea and Norway - the main critism of SQZ
You cant make it up
SQZ net cash expectations substantially reduced by their house broker - SQZ just didnt make this so obvious in the OPs update, but they didnt hedge, oil and gas prices are down and production isnt increasing
Not long to go to the trading update, i would expect a progressive divdend and out performance of their targets. Cash build will improve for 2024 with the investment in new shops and more out of shop deliveries, Inflationary pressure should also ease which should improve the EBIT.
Will this be a sell on news, or will it surprise to the upside?
What is keeping investors still holding this stock? Once it broke 200p again, that was it for me, SOLD the lot, i made a promise to myself that i wouldnt hold for any election. SQZ just isnt investible, for so many reasons:
- poor management
- Labour threat
-gas prices going down
-production targets are lower than expected
-is the dividend safe?
- EPL is here to stay
- Oil and Gas sentiment isnt improving
-lot of the big players are exiting the North Sea for a reason, but yet these numpties its still the golden goose
-there are so many other better options - not necessarily in the energy space
The only positive here is that continued price falls makes it a bid target, thats the only positive i see, oh yes and Mitch leaving, lol. I bet Mitch doesnt like the fact that he is poorer now with his loss on his "trade"
sorry i am being negative, ive been here in the 5p days but the downtrend is there for a reason and sometimes you just got to press the sell button,
There maybe a reluctence by investors to invest in KIST due to UK election unknowns, labour winning wont improve sentiment. The upcoming KIST update will hopefully inform us where they see the business going and current cash position and debt.
InvestorPA you sound like a burned trader/ investor, we’ve all been there, live and learn, what’s your beef with these directors? The recent raise at 1.25 wasn’t great, but if you bought at those levels you would have made a tidy profit
Finally, the board and major shareholders have come to the realisation that Mitch doesn’t have the required skill set to grow the company any further. He is still sticking around so I don’t see any negatives with the coming update. It’s just that they don’t trust him to use the RBL and the likely strong cash position to deliver “increased shareholder value” as per quote below. Mitch probably doesn’t have the expertise outside of the UK and this must be the focus going forward, its an easy decision to make, just took them an age to make, but the share price decline made it a no brainer.
David Latin, Chairman, said: "Serica is now well placed for further growth in service of increased shareholder value, to which the Board is committed as its top priority. With the executive team strengthened by the appointment of Martin Copeland as CFO and a depth of talent both within the management team and on the Board, we have an enviable platform for growth and delivery of value to shareholders and all stakeholders.
Lol, the shareholder destruction here has been massive, raising money at 0.25 was criminal, this share will never reach 2p.
It’s a dead duck after they release the next news, they have no money and Lorna has needs to resign. Massive dilution coming - knowing Lorna its probably at 0.025
Lets face it, the RBL they have approved will not lead to any sizeable acquisition, what is $500m odd going to buy you? There wont be any acquisition overseas - i will be astonished if thats the case, i dont think they have the appetite to do that, it will be the same old and thats either improve their operational effeciency and longevity of their existing fields or drill some more wells in the North Sea.
You need billions to make a material and sizeable acquisition, we arent there yet
The last interims update way back in September stated ;
“ Net cash and cash equivalents stood at €247 million at the end of the period, with net debt of €42 million following the assumption of Mime Petroleum's outstanding bonds”
So i would think that net debt has been significantly reduced since then. Also production has likely increased in the last quarter.