Member Info for Mommur

Your trying hard surprised and its very admirable.

On a day with oil holding above 80 dollars and the gas price rising, to drop a further 12p from an already low - you have to wonder what is going on.

Take Kistos for example in which I invested at 141p - nothing dramatic today but Serica has plumbed the depths from 250p to 150p when even 250p was considered a low point.

The only item left to consider is the dividend - how safe is that going forward and another lurch down.

Time for our major shareholder to take this private or is he content to receive a substantial dividend and transfer the monies elsewhere ?

Why the silence from BP and Shell - they wrote off Russian assets so can easily write off UK assets. Why are they not supportive of UK Oil & Gas and throw hand grenades into this political mayhem. Insanity is the new reality - time to throw the sink out of the window and escape!!

Take a moment and think how!!

Lucky you being up plenty.

Personally, although I also bought more at 8/9p, I was awaiting 19p where my original investment took place.

Sold half at 161p, which seems decades ago and now holding the same amount yet again.

Pure play on licences/drills so time will tell - cup half full at present.

Most O & G companies with only UK assets are now priced accordingly for a Labour win.

It beggars believe that politicians still tout the obscene profits oil companies are making and EPL/wealth tax on UK producers is justified considering the billions of profits made by Shell and BP. Even 11 year old children in Aberdeen are well aware that Shell and BP profits made in the UK are miniscule compared to oversea's where the figures are derived from.

So why the continued misinformation?? Perhaps because Oil& Gas is priced on the international market and taxing companies to death who operate UK based oil & gas companies, is a win win for any government as its a "free" cash grab as companies can not pass on the cost to consumers. Thats how to destroy an industry and is tatamount to a free nationalisation as the tax goes higher.

So, Shell & BP - why are they not helping the smaller UK companies?? After all, they must want to sell their assets down the line and move out of the UK. Perhaps if the fired a salvo to moving to New York/Amsterdam rather than London and putting their UK assets up for sale would wake up politicians to the damage they are doing.

Wealth tax??? No one mentions Centrica, British Gas, National Grid, or god forbid BAE, Rolls Royce, Chemring and anyone else that makes munitions.

Taxes will come down with Labour - its never happened in my six decades. Leopard-spots.

Well thats sub 150p discounting the dividend - added several 1000's yesterday and today purely as trading shares post dividend.

Last time at this price we were spudding Columbus !!

JOG stating the obvious Newk, but tend to agree Serica game plan of offsetting development costs against tax is another home goal, considering the Gordon Brown protegee collection intent on destroying the O&G industry.

Who would have thought we would be at 163p in 2024 - that takes us back to the Rhum 3 well completion.

My diversification out of my overweight Serica position needs to gather speed - shame but we really need a substantial Norwegian asset - but that comes with its own perils re remuneration.

Kistos up the same amount we are down, on the back of the gas price. Talk about unloved!!!

My heart says you are correct Deeko and I should add 100,000 at 7p. My head says my money is better off elsewhere.

I'm still a holder, so perhaps not a doomster - just not very sanguine.

Just won a pound on the Octopus roulette wheel - in the money!!!

One would think that all political parties would want the Oil & Gas price to increase, which not only aids our British Independents but flows more tax money into their empty coffers. We see most OPEC members requiring oil to be in the 90-100 dollar range to balance their books.

The only fly in the ointment being the good old USA as they don't tax in the same way.

When all said and done, joe soap never moaned much, or stopped driving when fuel prices sky rocketed a couple of years ago - its VAT by default and ultimately the population paying as per usual.

All the slimies need to stop beating around the bush and aid companies like Serica - not put them in such a dreadful position due to politicians and local councillors spending what they don't have - and yet again destroying industries.

Hacked off with the lot of them.

Perhaps these ex FPM Directors could forgo their salaries for a year - after all, they are all multi millionaires and a bit of philanthropy wouldn't go amiss.

LBE is a little bit like PMG and does seem to be a Lifestyle vehicle to allow the management team to keep playing.

I was slowly adding to my holding around 16p - seems a steal now at 7.5p but head now says, perhaps its time to close the bottom drawer and offset the loss against gains elsewhere.

Now Serica are looking for Norwegian assets, so perhaps they will bring this #### show to a close.

As most LTH are aware I have always been a cup half full owner of Serica shares, but even I am beginning to despair of the constant depreciation of the share price.

It seems despite the articles and comments around a sound, well run company, doing the right things, the constant threat of a Labour Government or a Conservative Government that can't see beyond its tax trough is acting extremely negatively on the share price.

Its not as if the N Sea O&G companies haven't vociferously re iterated the unfairness and damage this is doing to the industry. Perhaps its time one of the "big" boys (BP, Shell) fired a warning shot that they are selling off all UK assets and moving to either N York or Amsterdam rather than London. They have the clout but the silence is deafening.

And what if anything is Mercuria doing behind the scenes?? More silence. With the latest broker valuation of 225p perhaps Mercuria are looking at the opportunity of buying Serica on the cheap - they have deep pockets and a long time frame.

No doubt Mr Craven Walker is selling his shareholding down as we speak, not that we know as its under 3% but he must be shaking his head on whats happening to his baby.

Lets hope we get a revised bid and it will be yet another UK company bought!!

Glad to see our Managers were not completely wrong and adding in times of woe has paid off or at least balanced our holding.

UK Smaller companies seems to be in vogue from the tipsters at the moment a good solid hold for myself directly and within NAS.

Bit lax of Dana to not effect repairs to the Water Ring Main System, nor add it to future workscopes. This is more a slap on the hand as no prohibition notice has been nailed to the mast on Triton, requiring shut down.

As Serica are in the mix now as a part owner, I would expect these requirements will be completed and also capture any upgrades required for Belinda uplift in production.

Cannae blame TW for this one -surprised the OIM onboard hasn't raised it as a safety concern.

Hot money moving to the next speculation - all aboard XPP this morning no doubt

Yep, interesting read Dick. Their seems to be a daily missive over the total lack of strategic planning for our oil & gas supplies. If the Whitehall Mandarin's run the country, just perhaps all political parties will eventually remove this from the election point scoring and even stop pandering to the Stop Oil, Magna Carta burners.

Unfortunately I can only see any sense happening after the general election and the untruths don't matter.

So we have a Share Buyback, Dividend held, new CEO and now Belinda approval - with no reflection on the share price.

Serica have no assets in the Tain / Serenity area - Bleo Holm is nearest asset with contract extension to end of 2024 from Repsol on the Blake/Ross. Dana were wise to relinquish Liberator area as to complex a geology, anyone's guess on how Serenity/Tain transpires.

eventually

Don't think I said imminent Dennis - we've always been a tortoise, but as you say we have a new crew, a new CEO and Mercuria purse strings and ambition.

Pretty awful political scene at the present, neither party can touch the O&G situation, even if a singular rational person can see the damage being caused - its poisoned chalice whilst we have Stop Oil pensioners trying to burn the magna carta - what next gunpowder under parliament

I am still a large holder here, painful as it has been due to the lure of a 6 figure dividend, that has come with the poison pill of capital loss over the last year. Needless to say my re-invested dividends are doing extremely well invested in Investment Trusts, not Serica.

As you say this new crew need a sense of urgency to ensure future investment in the shares - not only by myself

Cannae agree with item 4 Dennis - mentioned during results the angst from shareholders and new CEO re-iterating the potential oversea's purchase (Norway)

Looking at the line up for a labour government - I can only hope for a hung parliament - I can certainly supply the hemp.

5 weeks to ex divi day - where does that put us from this baseline floor - 165p on the day?????????

NQM - Unfortunately the CEO position is filled re Kistos

Thebold - Welcome aboard, you now have double the amount of shares with regard to our CFO.

Jeffries doing us no favours - whats changed - nothing apart from a new CEO