Member Info for Mommur

Heart and Head in conflict Friday, with rational thought making me take 53,000 off the table on close. Tidy profit and still a substantial holding going into next week, so why do I think I should have followed my heart.

Amusing that I noted on another board a dry comment for NI to foxtrot back to SQZ as we are missing him - not. His comments are pertinent however and not de-ramping this time, so contrarian viewpoints need to be considered.
With Nord 2 on its way and LNG sites considered in Ireland and interestingly the Morecambe Bay Terminal at Barrow in Furness, I doubt the gas price will increase dramatically, so we have what we have.

Our management are well aware of our reliance on gas at present, so I am looking forward to next year and potential asset buy.
With regard to our SP trending down, I have increased my cash from other holdings if we stoop to 110p area again. GLA and look forward to a Christmas rise into new year.

After watching the PMG debacle, alternative energy is a jaggy nettle, especially if you buy your wifes farmholding!!! And no PMG would not be a good purchase.
12% retrace is disappointing considering where we are in the companies development. 12 months of accruing wealth and still we languish. I do keep a weather eye on our second largest shareholder and when he will be taking some profits. A midlands business man who bets the house on Serica and still hasn't taken a top slice ?? Besides another asset, marketing to II's would benefit the company, but as always they need to be tempted by a rising SP, and as mentioned on here, leaving AIM, paying a dividend is all grist to the mill. For sure - this management is on it.

Been here a long time chinch, since the days of drilling Conan in the Irish Sea. On selling the Far East Assets we had $100m in the bank and then unfortunately had a run of dry wells that spent the cash and sent our SP into a tailspin. With BP help we have morphed into a business model for the times, with purchase of producing assets. As can be seen with my so called hares, drilling holes and finding oil is not the end of the story!! I note on the news that Faroes Petroleum Management is now coming to AIM as Longboat Energy - now there's a team that paid themselves handsomely for over a decade with a 4 fold increase in MC without overly influencing the SP. I despairingly held a 100,000 for most of that time!!!!!

Had the opportunity to offload at 92p two mornings ago and as on a free carry decided to ride the storm. Yet again I fail to follow my own sage advice - another 25k of progfit down the tubes - when will I learn.

What a two weeks, ECO and i3e, my hares, have been dramatically stumbling, whilst Serica tortoise maintains its range bound cycle. Have to admit I was on a free carry with ECO having top sliced and still in profit with i3e after doubling my stake, but I could do without the drama. I've always maintained it takes 2 years to embed new assets, so looking forward to the new year - like most on here I can almost sense by the beckoning silence the next deal. Now back to deliberating offloading ECO or holding and offloading half my i3e whilst awaiting final drill - I may need funds for Serica pre Christmas!

Always interested in someone's differing viewpoint, Upomega and perhaps whilst Serica gets on with extracting their percentile you could remonstrate with our government with regard to the 50% held in escrow. If we could have left half in the ground without extraction would that have satisfied ethics?
Trust that's "civil" ised enough

Thanks Ophidian - wish I had some myself - although glad Investment Trusts no longer have them as I didn't seem to get timed right. GLA

I soaked up a few myself at 24p but where has LO holdings been absorbed?? Perhaps Monday we will see. So we now have 93.4 m shares plus around 14m Options covering 35p, 39.5p, 55p and 63.5p with the bulk at 39.5p (6m). My gut is telling me the drill will be a success, whilst my head is considering de-risking and offloading half my holding. Baccarat again!!!!!!!!!
Would be interested in the boards considered SP now prior to drill results as I can only see us ranging close to where we are.

Can't fault your logic Maverick, I have recently added when we went below 110p as it seemed a gift and reluctantly sold at 141p. The selling is the difficult part but you have to not relate it to your core holding. Like to think my big money was made from the 4-5p days.
With regard to Dicks comments re Investment Funds/Trusts, there are a few that dip there toes into Aim but unfortunately they have not done to well for the last three years (pre Brexit) DIVI is a prime example (one of my investments) HOT and MINI also have a couple of AIM E & P. Don't disagree with any of Dicks comments on regulation and lets hope we move off AIM, as its being considered as well as a maiden dividend. Happy with 2p to go with another deal - and please no dilution!

As BBN has quite rightly pointed out, we have a lot of warrants coming into play so clearing the first tranche would be "liberating". Its not often someone covers all the aspects like BBN, so I am very appreciative of his in depth analysis. My personal assessment is that A2 will come in as predicted and then we enter the variable world of finance for development, farm outs, possible dilution, oh the joy. I did consider i3e a possible purchase by SQZ on A2 but now Serenity has come good Rockrose just may!!!!!!!!!

Drying out at present along with wet dogs! Nice to see SQZ returning to around the 140p mark . No fracking and Donald maybe placing a sanction on Nord 2 pipeline plus news on Columbus Well. Think we need to ask Boris to place a tariff on LNG /foreign gas - or at least pave the way for home produced.
Christmas present to me - SQZ moves up from AIM and pays a 1p dividend ex dividend Dec 24th!!!!!!

Interesting week ahead re direction. From my own perspective the journey has taken me right back to my initial purchase price just after the placing at 37p. Further purchases at 30p and 24p leave me in positive territory albeit with to large a holding to be fully comfortable on this final drill.
Despite a large amount of negativity seen on some of these boards, i3e have taken an open and considered approach and have skin in the game which all still to play for re Liberator with the knowledge of Serenity having been a success. Hopefully all the players that managed to purchase at 17-20p have now amortised their profits and we can see a steady rise to 50p.
GLA.

Yep, slightly cheeved myself, although I did offload 25000 at 141p that I couldn't resist purchasing when we dropped to 108p recently. Added to my hares, ECO and i3e, whilst awaiting my tortoise to romp home in the early year - needless to say that's SQZ. Next news for me is whether we have landed a big fish for Namibia or relinquished the Licence in December. Any deal announcement re Uk sector I am assuming is in the new year. GLA.

I've loved this share from 19p and sold half at 161p - it all depends on your perspective Shpunken. Happy to wait for a bottoming trend and load up again, 115p I doubt.

Snippet on uk.reuters.com about Zennor.

So Serica are running the slide rule over these assets - non operator assets again. Interesting as is Verus Petroleum up for sale from Hitec. This share just keeps giving.

Not a holder here, but for a bit of clarity the Crude Oil Storage Tanks (COS) are fixed to the two large legs of the Thistle Platform from approx. 70msw down to 155msw. They weigh approx. 300 Te excluding the contents. They don't actually sit on the seabed and are attached to the Platform Legs by shear plates, clamp assemblies and tubular members at various levels.
If problems have occurred with the security of the COS tank it is not a simple solution and has possibly damaged the platform structure, ergo peops off. Before you can cut it free it needs to be supported and no lifting points even if a floating 1000 tonne crane was available - and that cannae lift it out of the water as it holds probably 500m3 internally of dirty water mixed with old hydrocarbon residue.

Having bought a large tranche at 37p, the dry hole evaporated my profit into a similar loss. Doubled my holding a tad early circa 27p and 24p, so sitting on a significant loss. We seem to be acting out as I surmised, with no uplift on the SP until results of Serenity as this appears to be now a pure play on a drill, with regard to where the share price goes. Lets see what next week brings and when all said - I still have an inkling this will come good - but that's purely my own assessment and risk profile. GLA

Sorry for being cryptic, I was theorising that 4.5 billion of other BP assets will be sold prior to year end, in addition to the 5.5 billion Alaska Asset. Perhaps Shearwater or BP Andrew are not beyond Serica's purse.