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Strategy being takeover candidates, you don't expect a team heavily involved with monitoring their concentrated holdings, to not see XPP in trouble, with around a 46% drop in share price. No holding RNS before or afterwards as of yet.
Eye off the ball or just complacency??
I will take that deal Newk!! Lets hope Mr Flegg is "told" what to do. Mercuria mind has a different event horizon than ourselves - and I'm getting a tad long in the tooth!
Prefer Kistos over Longboat, but ones a few bob cheaper and not as big a bite.
Tend to agree Molokai, bit of a general malaise. Only 50,000 shares in ECO for me but underwater myself with a similar average. Need to see a bottom, so sitting on my hands re doubling up.
Been one of those years, Serica and i3 energy on a painful pullback, but hopefully back on an upward curve again.
Still remember buying these at 16p initially and bought up to 35p then offloading half at 161p. So you could say I am on a free ride - down the way!!!!!!!!!!!
Timing as usual - although I do feel thats now or getting close - stick or double up. GLA
Concur with all ruminations with regard to Kistos as a viable target. Have considered it myself previously as its been on the table before.
Let consider an equity raise of a further 100 million shares at a discounted price of 200-220p.
Are we all still happy chappies and chapessses?????
Building a business unfortunately is painful for PI's, especially as we are nearly a 1 billion MC company and not as nimble as when we were 60 million - no more multi baggers, just a steady rise.
I wonder when PCP and SVM finally accept that Longboat Energy is a long way from ever getting back to the initial 100p issue price when languishing at 16p. (MC 9.6m with 56.5million shares)
With them holding circa 25% of LBE perhaps they would consider Serica a better prospect going forward ?? Building blocks are there re oversea's Norway & Malaysia and they have not had the good fortune to land a significant discovery and re establishing themselves with Japex.
We certainly have the cash and mass to entertain better prospects. Idle musings, GLA.
Been buying this quite heavily in the 150-153p range, where we seem to have settled. Today, looking at its top 13 investments which I run a watchlist on, they are up 5.5% over the period, with little change in the sp. If the prem/discount was dramatically changing I could understand as the investments are static - who knows.
All good ruminations, but been (SQZ) to Morocco and Ireland before. Norway for me and perhaps another real attempt at Kistos. Mercuria may well like the idea of offering the top job to a certain Mr Austin .
Would need the worry beads out on any acquisition re dilution mind!!
Although it didn't work to well for Longboat, taking a percentile of prospects had its merits in Norway - or they are petty cash. Although I would hate tyo see the lifestyle chappies getting more largesse!!!!!!
Good to see we are recovering from yesterday. GLA
Bit of egg on my chin Ripley, although I did caveat by stating possibly!! Thought you would have bought back in.
Do trade a few myself at times, sold a 50,000 at 441p and bought back 50,000 earlier in the year at 200-205p, and my gut instinct was to run with them this time. As I hold quite a few, the capital loss on my main holding was excruciating following the Tailwind deal.
As you say, its your largest holding and held for years - coincidently its mine to from 2009, with a helping hand from 250,000 bought in 2015 at 4-5p.
We are now back into 250p range and happy to take the dividends and make slow progress on the sp. Keep trading and raise the baseline for me!!
It is what it is folks, but agree with NoQuestionMarks, its been a painful period but Serica is a profitable company and as mentioned on here a raised interim dividend is cream in the teacup.
I was beginning to think we would be range bound 200-220p all year, so a new "bottom" around the 240p region is heading in the right direction.
That said, the mark down on these results is a tad excessive. Reworking the Bruce/Keith Wells should hopefully add some production incrementally. Perhaps we should all have bought Orca 2 days ago!
Don't know about short demand atm Newk, but seems we have "expertise" with regard to Heavy Oil with Gannet E, which is around 30km away with an API of 20 as against Pilot at 17 deg API when it was first discovered. Horizontal wells with ESP I believe with product sent to Gannet Alpha. (visc/temp,pressure all play a part here and I am no expert)
Was originally Shell so perhaps "expertise" is a misnomer seeing as it was a Tailwind asset.
Who knows, roll on tomorrow and news about my divi!!
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.