Member Info for Mommur

My sides are "Haking"

Used to treat mt tropical fish when i was a kid with Mercurochrome - so its about time they "treated" us!!

GLA

Please tell me its not Serica that Orcadian is dealing with - better fish to fry oversea's.

Well done for buying in July Ripley - nothing wrong with taking a profit, although with the present macro's and interim results next week and another possible dividend payment - you have sold into possibly forthcoming good news.

Personally I bought in March and July lows and still hold them as bouncing around the 200-210p I considered was the new baseline after Tailwind.

Still heavily overweight here myself but re investing dividends into IT Smaller Companies (UK) as they will have their day soon. GLA

Beginning to think TGR needs to be offset against gains in my portfolio. Been selective in the past with Kenmare Resources and Griffin Mining and Blackrock World Mining IT, but looks like I got it wrong here.

Reminds me of MOIL in Madagascar, great business concept but costly for shareholders.

Bottom Drawer for now.

Did consider that Serica would be a likely candidate to farm into GBA a while back Dick, but now not so sure. With NEO having operatorship and the option to add a further 37% on a pro rata basis, if JOG runs in to finance problems. SQZ have Belinda discovery to develop and trying to be clever with the Tailwind tax losses.

As you say, the second farm out is crucial and will give wings. Then again what do I know as I sit waiting for any Serica RNS. GLA

Seems a long time ago I sold 20,000 at 161p at an average price of 26p. Kept hold of 20,000 and added another 30,000 at 26p in 2022 - hindsight a wonderful thing when we are sitting at 14p.

Have not succumbed to temptation as of yet, but Molokai is not wrong adding. SQZ dividend declaration next week so may well double up here and see where we go. 4 years in the bottom drawer - must be time.

Royal London: Growth opportunities at Serica Energy

Serica Energy (SQZ) is benefiting from new oil and gas licences being issued by the UK government and the opportunity for production growth, says Royal London manager Henry Lowson.

The oil and gas company is a top 10 holding in Lowson’s Royal London UK Smaller Companies fund, where it makes up 2.4% of the £280m portfolio. In a recent fund update, Lowson said the stock had been a contributor to performance ‘primarily as a result of the UK government’s announcement that it was going to issue new licenses for oil and gas companies operating in the North Sea’.

It has also made internal progress that is providing opportunities for growth.

‘Serica’s management team also held a well-received capital markets day event, which included an encouraging assessment of the company’s assets, post the recent acquisition of the Tailwind, and the opportunity for further development and production growth,’ said Lowson.

Shares in Serica Energy eased 3.4p or 1.3% to 255.6p on Wednesday. They have fallen 6% this year.

Share your twitchiness. Outcome is usually negative for Pi's with dilution the medal of honour for MD,s and CFO's to be awarded free options.

My only "green" little companies, Renalytix and Benchmark that seemed to have merit. Luckily my oil& gas company gains can absorb these losses. What a world.

Follow your reasoning and i have similarly been adding to UK smaller companies. Rather than adding to my MINI holding I have been adding to its stablemate DIVI purely because I think it will recover first rather than the micro companies here. NAS and OIT are my major holdings but will add to MINI later in the cycle.

Only problem with MINI is its such a small IT and any discount will be sold into once a year. GL.

Now the 3rd Quarter where we may know whether Serica has applied for further UK Licences in the latest round. On a Macro front I would ask the question - why? Oil & Gas are in a transition period, whether we like it or not - the big question is whats the time frame. Once upon a time, Parkmead held 2% of Faroes Petroleum shares and BP held 5% of Serica's shares.

Perhaps rather than applying for further licences we should diversify in a similar way with our profits left after EPL. I'm no chief finance officer, but I have strategically sold off some of my Serica shares and diversified my portfolio somewhat and the dividends certainly help nowadays building up my other holdings.

Ukraine will eventually be settled, and the Saudi's will find it difficult to hold sway over the shear amount of gas & oil entering the market - politics will come into play to steady the price but its never going into orbit and a declining trend.

On the bright side, dividend declaration coming soon and Mercuria / Serica will be running slide rules over various companies - no drilling please!!

The only disappointment on this board is no one advocates a touch of serenity. Its as painful for me as you folks being a holder of 600,000. Added again in the 12,s and happy to hold and await developments. Enough said.

But still within the last 6 months range bound parameters.

Will take notice once we have a sustained sp above 250p and the interim at least maintained at last years figure.

Not to shabby mind and does wonders for my portfolio. Still have final dividend in cash, just in case - news please!!

I just cannae see it after 3 years as a sound investment. It plucked my heartstrings as did my other tiddler, Renaltyx and are great little companies with niche products. Fair value of 63p - my thats heady but i would take it!!!

Quote: "Harbour, which last year complained its profit had been wiped out by the windfall tax on oil and gas companies, revealed that its tax bill was lower now than it had been before the tax was introduced."

No mention of a loss after tax of 8 million.

After the last discourse re EPL I was hoping for another damning retort - but total silence from Harbour - perhaps its all in the figures.

70's Miners disaster springs to mind, lets collapse the oil industry and have perfect green credentials and import everything - its other countries responsibility then - just the sort of mantra weasel politicians spout. Total madness.

I would be happy with the interim being held the same as previous Newk, rather than the debacle at i3 Energy thats cost me dear. Would much rather see a continued slow rise in the sp back to 300p. Might make you hang on to your substantial holding, ha ha.

Good to read Ithaca diplomatically stating the damage that the EPL is doing to the industry in its results today. Harbour will obviously state the same, but the silence is deafening from government.

Its obviously a poisoned chalice, whereas Business Directors awarding themselves collectively a 16% pay rise last year hardly raises an eyebrow.

Perhaps an EPL on BAE and other armament companies wouldn't go amiss, after all they are not benefiting from the war in Ukraine, and perhaps the Financiers and Insurers - heaven forbid!!

Gas up for a period, lets see what today brings for our tortoise.

Not to good for long term holdings but we have been 210/250 ish three times in the last 6 months so been good for trading tranche of shares. Small beer, but in this climate it stops me thinking of how painful its been for Serica sp. Even Mercuria would want this back to 270-300p range, unless they are saving up for an offer at 250p when everyone is fed up.

I'm all for new licences with proven discoveries, but our drilling prowess has been abysmal over the last 12 years - or just unlucky with no discoveries being commercial or dry holes. Perhaps better luck with the next inline with Parkmead.

"the previous company that the board built got taken out by DNO at circa £700 million".

I knew they had a good record, but did'nt know it was that good :)

The Institutional Investors were so disillusioned by the Managements ability to increase the MC fourfold, along with a complete disregard for the share price, that they pulled the rug from under them.

I have a small interest here, which I will endeavour to trade rather than hold - unlike my 10 years at FPM. Management have done even better here as FPM only dropped 50% from its market debut price - be a while to return to 100p methinks. Its all timing so GLA from here.

Newk, I'm a glutton on UK Smaller Company IT's and Chinese IT's at present. No doubt they are packed with telecom and cyber security, especially Herald and a tad less risky than individual shares at present. Still very overweight in SQZ which acts as an anchor whilst we slumber. You never know the kraken tortoise may awake !! atb