Member Info for Mommur

"peak production and with a field life of many years"

You maybe want to read Serica's Annual Financial Results which defines Columbus oip and life of field - you may want to amend !

Painful, comes to mind, considering I topped up[ for the new year last week.

Interesting that Capricorn now going to be a partner in the Columbus Field with Waldorf's 25% being handed over.

With only 1.1 million boe net (oil in place) to Serica being forecast as of Jan 2023 and circa 0.6 million boe/day net production to Serica this year, that only leaves 0.5 mill boe for 2024.

After all those years of waiting for development - its night, night Kathleen time methinks later in 2024.

Tom Cross over at Parkmead showed them the way, when operating Faroes Petroleum - Charity bash at the Marcliffe Hotel in Aberdeen was always the venue for the congregation.

Its difficult picking the diamonds from the rough - gone are the days of Anthony Craven Walker at Monument Oil & Gas and Serica. Still considering adding just not happy with the wage bill and as always with this team dilution.

Read my mind Sasa. Ditto: Certainly hope so.

Dennis, trust me, I would much rather have the capital gain from a 441p share price than having to wait another 8 years on dividend payments !!

We are now plumbing the depths of sub 210p, which strangely takes us back to Nov 2021 when the Columbus Field was coming online, albeit with a signifcant increase in total shares issued.

With RhumR3 producing and N Eigg kicking off we reached the dizzy heights of 442p.

Mr Flegg is a very lucky man that ACW returned him to the fold, but he has hardly shone since taking the helm - other than being amply rewarded for his contribution. Pity options,free shares, bonuses are not linked to sp performance.

Bought time we bought Parkmead, gave Mr Cross the CEO position and took operatorship of Skerryvore.

I must be in the minority buying this morning at 9.5p. Sub 10p tempts me considering the beckoning silence and licence holdings. Seems a long time ago I offloaded half my holding at 161p, new year beckons.

3p ?? thats a tad far left field.

Spilt milk - keep taking the dividends and in another 8 years it should account for my capital losses in Serica.

Perhaps ACW still has his holding and is enjoying a serious dividend payout each year, along with the Hardies, Mercuria and of course our very own free loader, Mr Flegg.

Yep - there's been opportunity at least three times to purchase in the 200-210p area and offload in 240-250p range. Been known to do it myself, especially with dividend payouts.

Each to their own - at least Serica is only range bound and not plumbing the depths. Now who's next, Longboat, Parkmead or Kistos on our opportunity knocks list. Who knows but I expect a year of consolidation fwiw in my opinion

That pays the Directors Annual wage bill for another year - god bless em

It looks like Mr Mills has accepted that Renalytix has not the legs for any recovery. OIG still has a top ten holding, whilst NAS's holding is no longer in the top 20 holdings.

Or perhaps he is awaiting new equity and having a second go in supporting - who knows - down another 11% is immaterial now - 10p or 20p needs another nought!!!

"Nice work if you can get it ...... !!!!

Acceptance is the key re these awards or we will all end up with ulcers - after ACW and Mr Fleggs free awards for the BKR deal, it won't surprise me to see a similar award for the Tailwind deal for our CEO and another for the Buchan farm in.

Galling - I expect the Directors get heaps of christmas gifts from Suppliers that go home - whilst the workkforce look through the window on christmas day - arrrrrgghhh wheres the gaviscon.

Small consolation for the sp drop, but Henderson's Lowland IT has Serica Energy at No 9 in its holdings with a 1.9% holding worth £7.4m and maintains its faith.

Pity more Income & Growth funds can't see a diamond in the rough, despite headwinds with EPL - lets get building and news to come outline the tax offset.

We are now back to the same share price on 23rd Nov when we RNS'd the Buchan farm in. Whilst macro economics plague the oil & gas price, it would seem any news good or bad, keeps us firmly range bound at these levels.

Perhaps its time this government, properly runs its slide rule over companies with excess profits due to Ukraine/Israel conflicts and taxed them accordingly - you could almost guarantee the top ten are not in the Oil & Gas Industry.

Moan over - only Enquest doing worse than us today.

Nothing sinister in my caveat Deeko, Bob and I do have a small holding here. As a holder of Faroes Petroleum I followed the principle that this management team would concentrate on MC rather than share price and took a position at 50p

Hmm, didn't get that right and the last 3 drills we not up to much. Doubled up at 25p - timing is everything eh!!

Remember the Serica glide path very well Deeko and was fortunate to load up in single figures. I like the Longboat potential myself but can the management team change their spots and not do the same thing again re MC.

I did broker on the Serica board what a tasty morsel Longboat is for them from petty cash. 40p offer would be painful but after farming in to Buchan, Serica is consolidating methinks.

Its tempting to add here at present - but will wait and see and maybe pound cost average over the next quarter.

Sincerly hope it all comes good.

Bought into the "green" credentials with regard to Renaltyx, with a product that was for the benefit of a fair proportion of ill peops. Holding now potentially worthless with any 10% drop immaterial. £18k to offset against my "non green" oilies and munition holdings profits- what a world.

Message to myself - become heartless - you are here to make a profit - nothing else.

Watch with interest but seemingly no bottom here.

Just a caveat from the interim results:

"Having undertaken careful enquiry, the Directors are of the view the Group will need to access additional funds during 2024 in order to fund on-going operations and pursue growth opportunities. This is in line with the Company's current activities of exploring, maturing its discoveries and seeking acquisitions. In the absence of such funding, the Group is forecasted to have limited or no liquidity by early 2025 and, in some reasonably possible downside scenarios during 2024. It is anticipated that these funds will be sourced through asset disposals / farm downs, issuing new equity or a combination of these actions.

Not a rosy comment when the sp has dropped from 100p to these dismal levels. Good Luck with £1 billion, Faroes never made it - the wage bill was horrendous!!

Its taken them 3 years to reduce the share price from 340p to 207p today, which is pretty impressive and about where we were 10 years ago.

It must be run in the same vein as UK Work Pension Funds - luckily I have my own SIPP!!

Will watch with interest - below 200p and its gone, but just perhaps we have bottomed out and may crawl back to 220p

Its good to see you are finally reaping the rewards Dick for your long term holdings here. Timing is everything as we all know and sometimes staying the course.

In a previous guise, I held an awful of Trap Oil shares ( rather large loss), when took over gave me around 6,000 shares in JOG, which in Jan 2016 were worth the princely sum of 10p. By Oct 2016 they were worth 62p where I bailed.

For long term holders accumulating in 2016 its been a blast and similar to Serica Energy where I accumulated between 4p and 20p a significant amount and probably Dick.

Going forward peops may well find another similar pattern to Serica especially holders around the 180-220p level - a rise to 440p+ and the company looking to increase its footprint MC with additional deals, (debt/dilution) and back to 200p you go. Sincerely hope £6 a share comes off to all, with a buy out, but Company making and ambition by Directors follow a different path to ourselves.

Watching with interest and wished I'd kept my holding but can't complain as it was added to my Serica holding - may well tuck a few away. GLA

Not to sure where you are going with your 02:01 am comment Upomega.

I have never criticised any poster on here, nor waxed lyrical daily.

With regard to holdings , besides being irrelevant to everyone but myself, I seem to remember the spreadsheet when we voted no to the Tailwind offer, that I was far from the largest holder - if all defined their real holdings.

Lets keep it civil and ruminate on Serica, not personal swipes eh, as I do absorb differing views on posts but follow my own path to investment decisions. Apols to other posters for response GLA.

"I feel we are now in a period of consolidation after Buchan...."

Just my own opinion Newk, Upomega and I have been known to be wrong. All I don't want is another 200 million shares issued, further delaying any rise in the sp and a possible dilution.

We now have Kyle, Belinda, Buchan along with infill wells on Evylin, Bittern, Gannet and Guillemot in 2024 - possibly Skerryvore and more work at Bruce/Keith. Thats a lot of spend.