Member Info for Mommur

With such an unloved industry and complete negativity from this government, I see little chance of dividend re investment taking place. I wait daily for an RNS that encourages new shareholders to take a position and encourage the ii's and lth to add to their holdings.

Serica has been dismal with drilling the drill bit, but M&A has delivered.

Time to earn their fat cat salaries now - all the cards are on the table re UK. Fire sale assets in UK or Norway production asset but get it done gentlemen.

We had best all hope that Hammerhead 4 is not a dry hole. Or a deal has been made.

Its now been 5 years since our all time high, where I sold half my holding. Added in the 8-9p range this last year, ever the optimist as it feels make or break time in 2025.

Sigh - best close the bottom drawer!

Being a long term holder here, its been a very trying time, not only watching but feeling capital wealth eroded. I was shrewd enough to offload 15% of my holding for 441p, but since then I have neither bought more or re invested the dividends in Serica. Neither have our Institutional Investors and pretty sluggish from our Exec's, barring our CFO.

Next week we will have had 54p paid in dividends and if we consider the payments stay the same and affordable for the next 2 years thats a further 46p.

Just perhaps our slow to move exec board are looking at UK distressed assets/ firesales that come with defined tax concessions - who knows but dividend payments seem to be the ongoing theme.

Sasa, it always puzzles me why CFO's don't advocate taking a holding in other companies shares. BP held 5% of Serica for quite a long period and rode the upward curve. I remember Parkmead holding 2% of Faroes Petroleum on the books.

Re oversea's diversification, lets look at ex Longboat/Seascape which has a very interesting prospect in the far east and opportunity knocked at 10p - happy that I bought but would have preferred Serica taking a 10% holding.

Energy Pathways is right up Millibands street re the Marram field and rather than them taking a £5m Green loan with a coupon rate of 12.5% , Serica could have financed and bought in at the princely sum of 1.5p - or even run the numbers on the £70m development costs.

Needless to say both these tiddlers are above these values now, and we are still tilting at giants.

Hmmm, Jurys out I am afraid, maybe to focused.

Herald Investment Trust up 17.7% since Aug 22, whereas Augmentum is still paralysed around 100p since Aug 22.

Hold both albeit five times as much in Herald - lets see where we go in the next few months with 3 years my limit.

Doubled my holding once the ex FPM management had left the helm - purely on the wish list for Serica to be running the slide rule over SEA. Happy to hold - still cannae see why UK O& G companies don't take a holding in prospective companies on their books.

Then again the Management of SEA wouldn't like a 10% holding on their books from anyone but an ii! BP had a 5% holding in Serica for a while and I remember Parkmead having 2% of Faroes Petroleum at one time.

Well done on a 2.6% holding - long may it last.

Think they are purely taking the moral high ground Dennis - insanity being the vogue of course. As 40% of the UK's gas supply is courtesy of Norway and 30% LNG, they only need to consider replacing the 30% we produce by other means. Electricity from France must be top of the list for Starmer a new green deal then we can get rid of our surplus gas generating power plants!!!!!!!!!

The Three-Day Week was one of several measures introduced in the United Kingdom in 1973–1974 by Edward Heath's Conservative government to conserve electricity, the generation of which was severely restricted owing to industrial action by coal miners and railway workers.

Now lets transpose Oil & Gas Production and Farmers into this mix and we have all the recipe with the exception of the Unions.

Getting back to Serica, the company has always been a slow mover - as a new entity with Mercuria in charge it seems the same. It makes me surmise that we are targeting distressed UK assets rather than any specific oversea's venture. Andrew Austin going through a painful period at present and we could always take the pain away from JOG with a very low bid.

Fed up with it all, painting garden fence is cathartic - will make it last until Mr McCawber socialist christmas and book a shelter with free soup!!

Providing they get permission to put a 1000 archimedes screws in Shetland and Orkney the tidal flow ranges from 2-5 knots. 100% tax deductable investment of course from Milliband.

Hmmm, reducing inflation for joe public in America, drill, drill, drill and $60 oil. Perhaps EPL will vanish a trifle sooner.

Lets hope now the news and results are out, Serica will be decisive. Watching with interest for an RNS.

Note that we have until Feb25 to make a decision on the Mansell Field or lose 8.3m of 2c contingency.

During this governments term, we will have both Columbus and Erskine coming up for decommissioning as we eat into the 2p reserves at the current boed extraction (3-4 years from Feb 25). Collectively around 3125boed which which we can hope Belinda, Kyle and Buchan will counteract grandly.

Added myself - half my intention - just in case 12:30 news is as painful as thought.

NY listing please.

Rumour mill has the Andrew Field being assessed for decomm - strange days when not so long ago it was very close to being sold.

Politics aside, the Oil & Gas Companies were sitting ducks for any government to raid the piggy bank. Their product is sold to the international market at the prevailing price - changing the tax regime did not effect UK inflation, ergo any Chancellor would rub his hands with glee.

Shortsighted and crippling to extend or even increase - about time we all put politicians in a collective box - the current crop have personal wealth of over £5m plus family trusts, etc, etc, same as the outgoing lot - besides Angela Rayner who wants a slice.

News on Skerryvore may come sooner due to what our new government does tomorrow. Crying shame for all parties.

Dennis, Serica were running the new R3 well on Rhum with a single channel (Control Umbilical has Channel A & Channel B redundancy) for the best part of 12 months until a Boskalis DSV replaced the umbilical a year or so ago.

You can't really factor in critical failures as they are so price sensitive.

We knew we were running on one compressor on Triton, with spare being worked on this quarter. Lets hope its a simple fix and we make up the deferred barrels.

Baited breath for tomorrow - I feel like a miner!!!!

Nothing would surprise me Newk, if the slide rule is being run over some of Harbours assets, post what happens in the forthcoming budget. What we need now is Bp to also forget about knighthoods and also apply for a New York listing, followed by Shell seeking an alternative listing outwith the UK.

Its a pity our new CEO didn't mop up LBE now Seascape , with awards in Sarawak moving the sp. Tucked a few away myself just in case, and at 15m MC its an exp drill and some proven gas discoveries. Still a tasty morsel with even Enquest involved with the proven gas discoveries.

Roll on the divi payment - lets hope they don't tax divi payments at 78% !!!!!!!!!!!!!!!!!!!!

All who bought at 1.7p, whilst I deliberated and couldn't see past the cost of the green loan and future costs of the project and likely dilution.

Doubling your money in such a short time always brings out the worry beads on retracement - is it a trading position or a hold- each to their own and i wish you all well. Will watch from the sidelines and await the budget.

Think I can afford to give you 2 or 3 pounds micksnags. Good job I don't post very often on here, my point beings its been 5 years - apologies if it came across as me patting myself on the back, which is not the case. I originally bought at 19p so my half holding went downhill very fast from 161p to 8p !!

Like everyone I am still waiting - hope the above paints a different picture for you.

GLA - will refrain from mentioning our high.

Been a while since I offloaded half my holding at 161p in Sept 2019. Added a fair number in the 8/9p range so now back to similar holding - "short term" depends on your event horizon, for me its been a while!!!

ECO adds a bit of spice to the portfolio and you never know come 2025.

Thinking of Iran, I am assuming they are being hit by EPL on their Rhum profits - with more to come. As the UK government also hold said profits in escrow its a bit of a poisoned chalice for the Iranian Oil Company.

Selling their 50% to Serica would make sense, but again escrow raises its ugly head, especially with the good old USA having to sanction Rhum.

Diplomacy after periods of unrest, or even regime change, usually leads to some concessions and just perhaps this dilemma may become advantageous to Serica in the future.