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Newk, you have to remember it was a reverse takeover and the rewards were similar to what Robbie Flegg got for all his hard work on the BKR deal (not).
Didn't see any mention in the Ithaca results of Erskine restarting - unless I missed it.
To counteract EPL they seem to going the route of adding mass - just perhaps we should reopen negotiations with Kistos and get a new CEO in the process!!
Even after a farm out. I've took the opportunity to add a few over the last few days. 9.19p & 9.2p today are buys rather than sells. Its a long time since I sold half my holding at 161p, having bought around 19-22p. Time will tell, not perhaps another Serica, but I feel patience will be rewarded.
Similar story with my portfolio DTP.
With regard to wft / epl, the weasels have exclusively targeted oil/gas companies in the UK due to the unique position of being unable to pass on costs to joe public, as our product is priced on the international market.
The likes of the Banks, BG/Centrica, BAE, RR etc would simply inflate their costs to compensate shareholders. Unfortunately we cannae do that., whilst billions are accumulated by said companies and others. They don't want BAE turning round and saying their Nuclear Sub is now 10 billion rather than 4 - after all its value is better than keeping the fuel coming?
Personally I'm hoping for a hung parliament.
Music to Odessyean ears MaryB.
Good for the Foundation also and Barrow in Furness with BAE being awarded Nuke Sub contract today.
Took a few more at just under 243p.
They sold the Swordfish last year and its now on a long charter with Mermaid conducting diving operations. Pity they got their fingers burnt as its a cyclical business.
By our Institutional Investors or Mr and Mrs Hardy, nor I would surmise by any Long Term Holders here. (Myself included)
My last dividend went into Herald Investment Trust thats up around 25% at present and causes me no worries at all - unlike the death nell of EPL that is preventing any new investors into Serica Energy, despite doing all the right things this year on capex.
I still have a substantial holding, (stupid is eh!) and feel their is still a few cards to play to the benefit of the company and sincerely hope that the sp delivers for peops averaging down - the divi's not to be sneezed at. GLA holders
We may well be due some positive news before the end of the month:
- Bittern sidetrack commencement
- Keith Well's intervention commencement
- Erskine Compressor fixed
- Belinda development decision confirmed
- and importantly a new CEO chosen
A flow of information is always good news and just might resurrect our ailing sp. Good point Maverick and agree that its politicised and a major negative.
"Falling investment in North Sea crude and natural gas extraction helped drag Britain's production sector into contraction in the three months to January 2024, Office for National Statistics data shows.
UK oil production is now at its weakest this century, falling two-fifths below 2019 levels in the second half of last year, amid reports firms are slashing investment in response to the UK's Energy Price Levy." (This is Money 4hrs ago)
Unfortunately politicians are deaf and very "DUMB"
Battle for work-life balance continues, as workers gear up for strike action across multiple UK offshore platforms. This wave of strike action will hit several platforms operated by BP, TAQA, CNR, Repsol, Serica, and CNOOC.
3 weeks on and three weeks off all year and the poor peops have to do training on their weeks off - not fair they say!!
It all helps - with Hartshead now reviewing the economics of developing the Somerville and Anning discoveries in the NS southern sector.
Just perhaps it would make sense for all prospective developments pending and from the latest licencing round, be broadcast over the media. Certainly a clarion call from oversea's and multinational players would support our UK based O & G companies. I've watched Unions fight for Dockers, Miners, Steelworkers, Ship Builders, and many more - mayhap they have a voice against their lords and masters.
I think they are basking on the uplift of the sp from 18.5p to 22.5p since February - outstanding performance is the clarion call in the office and cries of more free options is the mantra.
Sorry - been a tough week!!
To see. The company has put capital investment to the forefront this year, rightly so. Impacted companies may pay more tax but may also receive tax relief through the Energy Profit Levy’s investment allowance.
Rightly or wrongly, Tailwind balanced our Oil/Gas balance.
It is disingenuous for the media to still carp on about the profits that BP and Shell are making that seems to ensure a spiral of death for companies that are purely UK asset based.
Beckoning silence from Mercuria, probably as we are descending to bid territory and our board see a pay day.
ACW could have asked BP to take a holding again in desperation, but I fear not only the rudder is missing but we are taking on water.
I wonder if NOIC would purchase the other half of Rhum???
Rant over - pity Guy Fawkes couldn't assist the country today
All a matter of perspective Zengas.
Perhaps I was slightly flippant, but with a market capital of 11.28mill, just perhaps its vulnerable. Japex and Malaysia are building blocks and I was purely adding 2+2, making 5 and considering it an opportunity for Serica to have some assets outwith the UK sector and EPL.
Concur that things are happening here for LBE after 4yrs and 3 months - but a year low of 8.5p from 100 or 75p is hardly outstanding.
Painful comparison Zengas, like Mr & Mrs Hardy I bought heavily in the 4-5p range and was a holder from even earlier (2009) for the sum of 60p and added through all the heartache downwards until 2015. Never lost faith in Mr Craven Walker and it certainly came good.
Over the same period I was a holder of Faroes Petroleum which showed great promise, but never quite reached the next level. Management (some now at Longboat) forgot about its disillusioned major shareholders who sold out to DNO.
I'm sure Mr & Mrs Hardy are just as disappointed in Serica as I and many lth are - a catalyst may be to put an offer in for Longboat - perhaps after 5 years the major shareholders here feel the same as Faroes II's. Not to good for holders here from 100p and even myself from 50p!!!
Our time will come, hopefully with as new CEO imminently. Unless Mr Flegg was "pushed" I would have thought sourcing had been happening off the record for a while, with likely candidate(s) hosted. The right person will certainly lift our sp.
Looking at Kistos purchase, £25m has led to a 23% uplift to the sp as I write. Mayhaps a hostile bid for Longboat Energy would challenge their management and entice disillusioned major shareholders to accept after 5 years of underachievement. That would give us Norway and Malaysia diversification - little morsel rather than a bid for Kistos and a new excellent CEO from them!! Who knows, but I am in Surprised's camp - the cup is half full and just needs a couple of lumps of sugar!!!
I guess I must be a Kistos fan at present seeing as I'm showing a 15% profit on my recent and only purchase - I'm certainly not a fan of Serica after the last 12 months!!!
My only chuckle this morning was Dicks missive on a certain Ms in the labour party " the ginger Amazonian who left school with more children than GCSEs". Being a northern lad I cringe whenever she appears on tv, must be because I married a Kent lass and lived there for a decade or so.
Perhaps a timely purchase by Mr & Mrs Hardy or even ACW,MRF or Mercuria (yikes) would help - lets face it their dividends are enormous. Like Dick I sold 15% at 443p (now wish I had sold the lot like everyone). My concern now is the dividend - a fair few IT's have holdings in SQZ for the dividend, which may well be concerning and holding back any further investments at these depressed levels - wake up Management and take the concern away - otherwise the rot will continue.