Member Info for Mommur

Just a little nibble at ISA's from Rachel from accounts.

It must be extremely frustrating for a cash strapped socialist government to see around £1 Trillion of wealth (41% in Cash ISA's) basically ring fenced from taxation.

We used to think Private Pensions were sacrosanct and then game along Brown and recently Reeves to puncture that illusion.

The burning question is what they bring in next for ISA's - cap at £1 million and squeeze the pip??

With Andy Burnham on a modest wealth of £2.5-£5m he is modestly wealthy by comparison to other labourites, lets hope he wants to squeeze the pip on the piggy bank and share with the collective. We live in hope.

Unfortunately socialist politicians look to where they can extract money as tax, to enable them to "distribute" in a fairier way.

Strange how most of them are millionaires, have family wealth and their ideals don't clash with how their plans seem to effect hard working people that have managed to save and lift themselves out of poverty.

On Sunday a certain female labour mp was waxing lyrical about taxing dividend payments to the hilt as only the wealthy utilise this methodology. Pensions now included in IHT, double council tax on second homes that the needy can never afford if they were placed on the market - I could go on.

They talk about nationalising Rai and water companies, perhaps they should nationalise the Duchy of Cornwall and Duchy of Lancaster - or just take them.

Wealth in this country is held by the top 2% in this country whether in land or accumulated wealth in property and family trusts - bizzare that true socialsm would puty this at the top of the pile to be extracted. Enough said - going to Mauritius

Back to feb share price. Pre BP news , acuasition of JHI and Navitas partnership and N Falklands Navitas farm in.

Beginning to be interesting and could well turn on a sixpence.

Understand the sound reasoning for purchasing an oversea's asset but I am personally happy with Serica pursuing its current strategy of M & A in the UK sector and utilising its tax losses for the next 3 years.

As Serica had no oversea's assets, I personally accumulated ECO Atlantic and Seascape to broaden my portfolio, both of which are pure exploration plays that have done extremely well. I hoped at one point that Serica would take a large holding in either one, similar to Mercuria with ourselves. Sadly it hasn't happened and I seem to have a second and third "Serica" in the offing to add some spice.

With Equinor outlay of 1.6 billion for Rosebank at present, it will happen and it will be interesting to see developments over the next week or so. Openin g up West of Shetland would be beneficial to Serica - now if only Bp would sell us the Claire field

Not the first time Bp has been in Namibia, having bought into Serica acreage in the Luderitz Basin. Painful experience when Bp pulled out after paying for 3d Seismic. From memory Bp had a threshold of around 250m barrels on an economic basis, and departed leaving Serica holding hte baby.

Think they felt a tad guilty as they then "gave" Serica the Erskine holding and the company has never looked back.

Lets hope we attain some large prospects and we have a better chance with it no being just one licence.

I note that Kistos are now considering Compressed Air at its Cheshire Gas Storage Plant in its salt caverns.

More the merrier

Lets be honest, its unlikely that Neo and Serica will advance Buchan until after 2030 - or sooner if EPL is removed 28/29.

Meanwhile the MD and CEO take a £500k wage each year - aah the life, whilst you await realisation, meanwhile ..............

I'm sure DU is happy with his Serica shares which are going from strength to strength whilst awaiting news here - its been a long haul from Trap Oil days but eventually I'm sure it will come good although lth will shake their heads at the time element.

All good points Terry, as I have a good friend explain it in a similar fashion yersterday over lunch. He is now relocating to Thailand, opening a business in Dubai at the dizzy age of 74!! He is in the process of selling his house in Scotland.

Londoner, glad you are in a fortunate position and don't disagree with your figures, but all our circumstances are different. I took my SIPP 25% tax free allowance a fair few years back (£250k) and since then have allowed it to accumulate without any drawdown and is way past its original amount. At my age I would love to take the whole amount but the tax for this is excessive in my opinion.

Take my Limited Company, 500,000 shares in Serica among other assets (closed co) with chargeable gains of 25% just to monetise into the company. Risk all mine but the tax after taking salary/dividend!!!!!!!!!!!!!!!

Good job I have Serica shares in the SIPP and ISA.

I'm fortunate, yes, but am agrieved at the tax take and especially now my SIPP will be part of IHT.

Copilot just gave me another reality check, with regard to relocating to Mauritius.

Buy a residence, limit time in UK for 5 years and my SIPP drawdown is not subject to UK tax and also dividends from my Limited Company are again not subject to UK tax. Basically pay £14k on £100k pa if i remit all into Mauritius (50k divi / 50k drawdown)

No wonder people are leaving this country

Apologies, you are correct - 294p - 302p was the highest this year. Must have had my rose tinted glasses on, or dreaming of when we were over 400p.

A lot has happened since we were informed of the deal for Spirit Energies north sea assets on 16th Dec 25 and the commencement of hostilities with Iran on the 28th Feb 26.

The Serica share price was 170p with Brent at $62 just prior to the Spirit news

The Serica share price was 330p with Brent at $72 just prior to the Iran debacle.

My crystal ball is misty on where our sp and brent will end up, but we are still up 44% with an sp of 245p at present and our assets have grown immeasurably.

Watching with interest and will see if I reinvest 10p dividend prior to ex divi day

Spoilt for choice today, SQZ sub 250p, ECO sub 50p and KIST around 242p - not to mention others.

Hold all of the above but did add to Kistos myself today at 242p.

Pretty good baseline on all, with news to come.

Interesting comment over Milliband this morning not wanting to reduce his green energy budget: "However, the Prime Minister is said to be keen to go further and save £9billion by scrapping carbon capture and storage, which has never been proven to be commercially viable."

Dangerous times if Spirit Energy pull their carbon capture for the Morecambe Bay fields and switch to a natural gas storage facility.

Did consider topping up myself, but erred on 15k into ECO.

I still harbour and inkling that Serica may come onboard. They did comment on the Far East on their Capital Markets Day and may well consider, especially after the Enquest deal in Malaysia today. Here's hoping.

Fair play to Enquest with their latest deal in Malasyia. Come end of the year they will be 70% Malaysia/ 30% UK.

I wonder when this government will wake up, especially as the Rosebank FPSO has now arrived in Shetland.

Brinkmanship??

Managed to convince my young lady, that silence is golden - and added a further 17,000 over my account and her ISA. Hope she doens't expect the same increase from her original purchase at 7.8p - that would mean I get a B-ll—king too!!

Thats my brain not working to well after my dieting exercise, Nastynick. It left the Lancaster field in May. Serica being my largest holding with ECO in second place.

I like to think of ECO as my second Serica and I thought you only get one in a lifetime!!!!

Well thats the euphoria all gone. Suspect we are awaiting oil price decline on news and we have ex dividend to come.

I wonder how much Bp want for the Clair Field - if we get to cherrypick? West of Shetland hub would be a fine strategy.

Just to add IJWT, its not a platform but a semi sub FPU thats being tied into. Riser catenaries in these depths are extremely complex and heavy. Interesting non the less, although I would expect Sea Lion to be an FPSO.

Waiting for news on Guyana myself with a solid hold.

Yes eagerly waiting news myself and posted this on the Serica board yesterday

"Glendronach is a known large discovery, though perhaps Kistos and Serica are awaiting for changes to the EPL???"