Member Info for Mommur

Perish the thought but I wonder how many today will be dividend reinvestments. May have been interested at 199p but not now.

Tried not to go down that rabbit hole Dick, although I would expect the Hardy's to turn their noses up at anything under 300p. Who know's, all doom and gloom at present, I've turned the TV off as its all negativity and politicians wanting a pure socialist society. Maybe getting rid of Non Executive Directors round robin gravy train and windfall taxing Exec Directors bonuses would bring a few pounds to the table. Nah lets just raise Corporation Tax to 25%, collapse the economy and everyone wanting a job in the public sector and going on permanent strike. Dismayed at our return to nearly yearly low - perhaps they want me to re invest my dividend at 200p. GLA

Just a spare £20k, following his decision to fly premium economy rather than 1st class then.

Its been a painful week Newk as the MC was well over £200m not so long ago.

Revised drilling forecast down the way and the dividend halved and gone from monthly to quarterly - thats choked sentiment.

I'm sure Mercuria are working on something that we couldn't anticipate or guess. Marking time at present, but didn't see a descent from 250p back to 210p - Mercuria should not be best pleased now they are in control. GLA

How about adding i3 Energy to that list Newk - it might lessen the pain for me!! Thats my only 2 oilies needing consideration for re investing my dividend coming shortly. IT's holding water at present but hardly budged in the year.

My capital loss is now similar to the Liberator /Serenity disaster - amazing what a few weeks does to a company that is profitable but sentiment changes. I can accept managing the dividend to the companies benefit but the drop in MC to this level, seems a tad excessive. Now I want Serica to bid for i3 Energy and get rid of the UK wage bill.

Now, now Dick, stop rubbing salt into the wounds. Working back the way to last August when SQZ was above 443p (hard to believe) I surmise the Tailwind deal was being worked on at the height of the market. Not to good for the buyer, but impressive sale by the incumbent management, who are now firmly in control of Serica's destiny going forward.On the back of the Longboat deal, Graham Stewart (Longboat & ex FPM) has now joined Curium Resources as Non Exec Chairman in a new venture looking at stranded assets etc in the UK. Serica has been quiet for a while now and has descended back to near its lows - perhaps the second half of the year will engender upward momentum. GLA

Just been through this with my only other O&G holding besides i3 Energy, in Serica Energy. High of 443p ish, Tailwind acquisition at 278p and now languishing at around 225p.

Hold a reasonable amount of i3 Energy giving me £1000 per month dividend, but extremely painful with an average of around 21p . It certainly seems that something is afoot - it would be just my luck that Serica have decided on i3 Energy as their preferred oversea's holding. Off to wet the bed - well maybe not yet.

I forgot to add the 33rd Round Licences in 2023 !!!

Quiet period unless something dramatic happens in 2023, whilst planning a number of drills in 2024. Dividend day fast approaching. GLA

Belinda FDP 2023

Bruce Well Interventions 2023

Keith Well Intervention 2024

Guillemottt West 2 well intervention 2023 & infill well 2024

Bittern B1 Well sidetrack 2024

Gannet E Well Drill 2024

Evelyn EV-02 Well drill 2024

Skerryvore drill 2024

So we have Parkmead on an MC of £16m with Mr Cross having a 26% holding. 50% of Skerryvore and operatorship - now surely their is "deal" to be made here with Serica, being cash rich.

As a private investor, taking a 20% punt on Skerryvore with Serica, plus a dividend may get some guys and gals onboard rather than a 50% punt and wondering how its going to be paid for.

Tom Quixote Cross may be tilting at windmills nowadays and open to a deal. Thoughts all??

Don't disagree at all 1408. I was probably disingenuous with my initial purchase of 122p, from Oct 2008 to Aug 2009 I added aggressively between 50 and 70p and accrued all the way up to 170p in 2010. From memory we were over 200p two or three times in the next 9 years but in 2018 we were back plumbing the depths below 90p.

What I was trying to relay was the time frame when averaging down or having a long term holding awaiting recovery. I personally had 70,000 shares in FPM and traded quite a few more. I'm sure their are Longboat LTH that have averaged down from the initial 100p, holding faith and are now considering adding more - as you said timing is everything and now may be the time but as I said GLA but I'm personally a tad wary due to my disappointment in this management team.

Divi payment day but I'm beginning to think I have bought a bond with my average sp of 22p. Another 10 months of divi's for parity at this price, ignoring tax liabilities!!!

Back to silence now - been here since Liberator days and averaged down a fair tad. GLA

This ex FPM Management team have an event horizon 10 years out and are certainly creatures of habit, with total concentration on MC and little effort with regard to SP.

Looking back at my Spreadsheet I bought first bought FPM in 2008 at the princely sum of 122p. DNO offer in 2019 due to II's totally disillusioned was 160p. A profit you might say but hardly dynamic when the MC had more than quadrupled in the timeframe. These guys have made their money and are "playing" similar to Tom Cross at Parkmead. Have a punt its your money but however you gloss it, its a buyer beware label for me and you may well be captured for a long time averaging down. GLA and DYOR and ignore my past experience as it will probably never happen again!!

Lets hope that we can hold the 240p level tomorrow - 210-220p level appears to be a bottom for me. GLA

Think their would be a hefty premium to pay Maverick, in a bid for i3 Energy. Tantalising for me, having a significant holding in i3e paying a £1000 a month divi - if only!!

Perhaps they can "steal" Longboat Energy off the aging ex FPM Directors who are doing a similar job as Tom Cross at Parkmead running a lifestyle company paying handsome salaries. That would give some Norwegian & Malaysian licences - nope i dinnae hold them as I had previous history with FPM and how they quadrupled the MC in 10 years with complete disregard for the SP - ergo the Ii's sold out to DNO.

I'm sure Mercuria would like the sp back to around 275p and are pressing all the right buttons - I await in anticipation.

The question is whether Serica are going to bid for any further Licences in this round. Dyor but my view is they will assess any known discoveries around their assets and bid away. Licence 29/1c may be of interest.

With the current tax regime, some of the smaller companies must be in a distressed state and I'm sure M&A is being targeted , although these will still be UK assets - their must be value to be developed on a long term basis (2028 onwards). Mr Flegg should be poked by Mercuria to get a shifty on, especially if he wants his latest reward to vest.

On another note, a very good article in the Daily Mail by Jeff Prestridge on the ruination of Britains Pensions by the Blair/Brown interference. Particularly galling that the Tony Blair Institute is calling for changes to rectify the destruction they caused in the first place to get Pensions investing in british shares.

Sounds like you have been drinking bitter again upomega. Feel your pain, but I am hardly arrogant, just accepting of a situation and moving on. Good luck in your next investment choice.

Not a bad call Flex. I bought a fair few the last time we were around the 210-212p mark. In fact I re purchased all the shares I sold at 441p.

Lot of angst on here, rightly so and I whole heartedly agree with all of it. Its done and dusted so peops have to accept and consider if the company is a good investment at these levels. If I consider the all time high with the sp at present with my rather large holding, the paper loss is mouthwatering. But not when you take into account my average was in the low teens. Resisted adding further as I have been accumulating Investment Trusts - UK smaller companies - eventually they will respond - I hope!! GLA whichever route you take to amassing a few pennies - unlike Mitch Flegg who resembles Winnie the Pooh with his head stuck in the honey jar.

I'm surprised that more LTH are not adding to their holdings. Or maybe they are.