Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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.
Nope can't help you with that one Spondulicks - Serenity/Tain is up by Blake, which is nowhere near Banff/Kyle.
I'm afraid i3 Energies reporting leaves a lot to be desired at times - or lack of.
As we have mopped up Kyle - had they (I3e)applied in the 33rd Round ?? Who knows re Banff or they lost out on Kyle.
Can't see a link up myself as I feel we are now in a period of consolidation after Buchan.
Lets see if we get a number of TR-1 next week, or that extremely rare bird, a Director purchase!!
Glad for Dick re JOG as its been a long time coming. Aah them were the days when I has 1 million shares in Trap Oil, lost a bundle and ended up with 10,000 JOG shares sold a long time ago for the princely sum of 62p.
Would expect we are entering a period of stabilisation after this farm in, apart from any further Licences we have bid for. As mentioned its all positive for Serica and should lift us out of this range bound 210-250p. Unfortunately my dividend is going elsewhere but it should move - arghhhh.
Concur with all, although slightly surprised as Serica intimated that they look for operatorship. Sigh of relief that its purely cash put to work.
Bit of a jaundiced outcome with Oil back above $80 and we recover to where we were a couple of days ago. This tortoise is definitely still hibernating and I wonder what it will take for II's to consider Serica not only as an income share but a growth share. GLA
My apologies to all and thanks for pointing out my error Muckle, dividend tomorrow.
Think I have £1,000,000.00 less Muckle after our Tailwind purchase - luckily I sold quite a few at 441p but still retain 575,000 which have done me no favours this year.
Like Newk, I have not re invested dividends here but built a nice portfolio of Investment Trusts that are all sitting on 5-10% profit this year.
In another 8 years if we keep the dividend payments I will be back to square one!!!!!!!!!!!!
Yes rather perplexing that we have descended from 250p in mid October and 240p from the first week in October. Whats changed - Israel/Palestine and the potential for escalation? Oil Price reversed to $80 a brent barrel? America playing end games to significantly reduce the price of oil?
Strangely enough escalation would potentially send the oil price into orbit and the Oil price is priced the same as a year ago in both WTI and Brent. America it wouldn't surprise me at all .
So we either have results that indicate EPL has become a significant impact to our profits or are we looking at a possible bid / dilution for us folks again as the "business" grows.
Dividend halved going forward - who knows - but its disappointing to be plumbing these depths yet again, especially as dividend is due next week - another 9p docked and sub 200p - screaming buy as intimated offset by the Mercuria holding somewhat.
Just back from a rain soaked Lake District break - that was a washout in a similar vein to Serica and i3e.
Mentioned a while back both Parkmead and Longboat as potential M&A.
Dividend re investment here next week?? Perhaps our II's may rise to the challenge but I suspect not.
I'm afraid mine is adding to my Investment trusts.