Member Info for NewKOTB

Well that a surprise :

"Statement re. media speculation

Serica notes the recent media speculation and confirms that it is in discussions with EnQuest plc ("EnQuest") regarding a possible transaction to combine Serica and EnQuest (the "Possible Transaction").

The Board of Serica believes there are substantial potential benefits to the Possible Transaction, including increasing scale and diversification, unlocking significant synergies and providing a stronger platform for further growth.

Although discussions are ongoing, it is currently envisaged that the Possible Transaction will be structured as an all share offer by EnQuest for Serica by way of a reverse takeover under the UK Listing Rules. It is expected that the Possible Transaction would involve a return of capital to existing Serica shareholders conditional upon completion of the Possible Transaction (the "Expected Return of Capital"), and that Serica shareholders would hold a majority of the shares in the enlarged company with shares listed on the ESCC market of the London Stock Exchange. There can be no certainty either that an offer will be made, nor as to the terms on which such offer will be made. A further announcement will be made when appropriate...."

"Serica notes the recent media speculation and confirms that it is in discussions with EnQuest plc ("EnQuest") regarding a possible transaction to combine Serica and EnQuest (the "Possible Transaction")..."

Up 13% ..... WHY !!!

RSI now lowest since Covid crash March 2020 and SP lowest since (yesterday aside), well, since records began !

aimo & dyor

“ I recon there's a possible sale of uk asset…”

Agree, Serica would certainly be interested and a front runner imo.

“ I guess the 40% held by BASF makes HBR vulnerable to a takeover…”

If any backroom deal is made by another entity then it would pose a real issue for HBR. It’s important HBR get and hopefully cancel these shares or they go into treasury for future M&A. BASF would look for a deal not necessary at 360p if someone came knocking. The way our SP has been attacked at any opportunity since the deal announced and completed makes me think there’s something more to it . Not sure what atm .

As a point of note, HBR reserves are being valued at less than $1 barrel, that’s fire sale territory.

Aimo & dyor

Lets see what late / delayed trades occur !

It's dark magic how a share can be destroyed in the market like HBR has been today, when buys 5.4m outweigh sells 4.3m.

Woowww, that close was close to 187/188, CLOSED 189.4p (-24.6p / -11.5%)

Media is slowly catching on, we need more exposure for sure with such a world class asset.

"2P reserves and 2C resources more than tripled to 3.2 bnboe (2023: 880 mmboe), representing 19 years 2P reserves and 2C resource life..."

BP could grab a bargain, at our current Mcap, Mr Market is valuing our reserves at LESS THAN $1 BARREL !!

Utter madness our SP is currently being valued by the market at FIRESALE prices.

aimo & dyor

LOL, so the market is attributing a 12% fall due to a delayed buyback announcement, seriously !

.... lol, it cut off the important bit ... "less than $1 barrel"

"2P reserves and 2C resources more than tripled to 3.2 bnboe (2023: 880 mmboe), representing 19 years 2P reserves and 2C resource life..."

BP could grab a bargain, at our current Mcap we are valuing our reserves at

When reported buys outweigh sells and we plummet >10% there are dark forces at work.

aimo & dyor

"Harbour will host a Capital Markets Update today, including a presentation of its 2024 Full Year Results, at 9.00am (UK)..."

Seriously oversold right now, plus we have a gap at 225p.

Linda et al had better put on a serious show of confidence because atm Mr Market is not liking todays' results.

"At Brent oil prices of $80/bbl and UK and European natural gas prices of $13/mscf, we expect to generate free cash flow of c. $1.0 billion1 in 2025. With a $5/bbl change in Brent oil prices or $1/mscf change in European natural gas prices impacting free cash flow by c.$115 million, we still expect to generate material free cash flow at current prices...."

Note :

"we still expect to generate material free cash flow at current prices....", which is $69 atm

My worry was dividend would have been cut, as it happens, its increased, albeit tiny. HBR must have confidence in their business model or worried how the market would react to a reduction, no matter how small.