Member Info for NewKOTB

TIA

Confident tweet (or whatever it's called now) from Mitch, don't recall him doing that before. ;-)

Also just looked at their 'X' page, wowww, can see the influence of TW, good to see. Normally hardly ever look at their page, think I need to add it to my 'to do' list from now on.

https://twitter.com/SericaEnergyplc

HS,

Hope you are keeping well....

"unless you thinking the XEL route to production!!... "

God, I really hope not, otherwise as the late great Len Goodman used to say, I might just as well "Pickle my walnuts!" now.

That said, ORCA is up ~80% on release of RNS stating their HoA, likewise, one would hope the same reaction when / if we issue one.

aimo & dyor

Afternoon Whimax,

ORCA today issued RNS stating they are looking complete a similar deal and to retain WI 18.75% carried interest out of their 100% PLUS milestone payment $3.2m to first oil. Given we have already effectively farmed-out 25% of the licence to retain 15-18% from our current WI of 75% (net effective rate of retaining ~20%) appears reasonable to me. Don't forget our resources are 2C's atm so are 'valued' accordingly. Of course the higher the retained equity the better, guess that's always been the sticky point !

atb

aimo & dyor

KC,

"So perhaps Jimmy's estimates are not far off..."

Lets all hope so, but this project needs to get off the ground, different ways of playing one off against another, so not always that simple.

I do agree this is a buy atm , all I can say, if the WI is on or above 25% with free carry and chunk of cash then 20p/s will easily be history.

atb

aimo & dyor

Jimmy,

With CHAR securing a “free carry to first gas,” and a “chunk of cash” our WI would be closer to 15-18% imo, no where near your assumed 37.5% or even 25% WI.

aimo & dyor

Mommur,

"Heavy Oil / Polymer Flooding.."

If I recall, heavy oil is in short demand for blending atm from the NS, although I may be wrong as this was around the time of Bentley and my bad experience with XEL a few years back.

I know I said 'NS is not the Plaice to be', however, given staged payment totaling $3.2m in return for operatorship (what SQZ have always stated they prefer, at 81.25% interest) plus it will add ~63.4mmboe 2P's (review set to add 5-10% 2P's) to our reserves, ~50% increase on current with vast majority of development costs to be off-set against tax (Labour dependent of course) would be a deal worth pursuing given how much we wasted going after NEigg. Deal in theory, given additional 2P's none producing reserves should add between ~$32m and $130m to our valuation, timeline dependent.

Massive plus, Pilot is not a wild-cat drill, far from it, that I like.

Downside, instantly accretive, it is not, that I don't like.

Middle of the road, we sit on the asset (drag our feet) until EPL is either removed or modified for the better.

https://www.lse.co.uk/rns/ORCA/proposed-farm-in-to-the-pilot-project-ipwmzrky2rcts5k.html

aimo & dyor

Upomega, all very true, question is, who will be reaping the real rewards come +2 years down the line, PI's or Mercuria !

See there are +ve rubbings emanating from CHAR this morning too, much prefer farm-in with CHAR, Anchois tbh, although the obvious downside, it's a year or two off production, similar to Pilot.

Is there room for both, probably and more too !

aimo & dyor

Mommur,

Morning,

"Please tell me its not Serica that Orcadian is dealing with - better fish to fry oversea's..."

Agree, lets just hope it's a load of old Pollack's, as the NS is really not the Plaice to be and it's nothing more then a red Herring although time is passing, they really do need to get their Skate's on last thing us SH want is a kick in the Cod piece. If by some chance we are looking at gaining HoA with them, just hope it's not the Sole deal we are actively involved with atm

aimo & dyor

Our SP could turn very swiftly indeed, all it needs is a Wispa of good news, Flake'y or not to give us a Boost, never mind us going to Mars or Milky Way, we will be on our way to a new Galaxy

So long as CHAR don't Fudge things up as holding here has been no Picnic. Coming down to the Crunchie time soon and I'm looking forward to my Bounty, lets hope anyone short get's burnt to a Toffee Crisp.

PS Bit off Topic but there are a few Wonker's on here atm.

Bueno luck all.

aimo & dyor

BBoy,

Don't worry, crackpots are two a penny on this BB ..... I'm not surprised that Suspicious1 got removed and their fellow crackpots feel the need to comment on it, indeed, you had to be fast to even see the post in the first place before it was REPORTED & removed, let alone take any note and subsequently post a related comment, unless of course, as the Spice Girls would say 'When 2 Become 1' ..... or is it more the case of 'Norma Bates'

Have a good day all, appears HBR is at last finding it's way north.

ps See CrackPot Central has just had another new train pull into the station, you all know what to do.

aimo & dyor

Now in oversold territory RS1 (14), 9 consecutive RED days, longest run since Oct 2022.

Certainly due a bounce, however we do appear to have a persistent seller / management of SP, so could well have more down than up days from here until we reach bottom of channel ~10.5p although close above 13.4p tomorrow would change everything.

aimo & dyor

Spent over a month continuously now in 'oversold', RSI (14), should now start to see slow recovery from here in.

aimo & dyor

+8.4p in first 30 minutes on open ..... hummmmm !!!

aimo & dyor

Got the feeling it's starting to look like rolling blackouts will be come the norm this winter, at least with blackouts Gov don't need to provide energy handouts to cover bills as one would balance the other !

US gas consumption is up 5% YoY too, combined with higher Brent/WTI and falling domestic O&G production / investment, this is only going one way I'm afraid .....

Thank you HMG for ensuring UK energy security ( not ).

AIMO & DYOR

RSI (14) close to being oversold ... ;-)

Getafgrip,

Thought provoking post, thanks.

"The second edge to the sword is attacking, overwhelming & destroying the perpetrators who attack our systems..."

Given DARK are in the arena to stop cyber attacks, one could safely assume reverse engineering of threats would be part of DARK's development program. Moving that thought one stage further, wonder to what degree DARK are involved, secretly of course, via UK Gov agencies in the development of AI Cyber attack !!! Just a thought, atb

aimo & dyor

Don't think the Cambo development will get off the ground ( if at all ) until fiscal security and pathway is clearer, so not until after next GE. News like this just over 18 months ago on acquiring 800m oil in place and 100% ownership would of provided a boost to Ithaca's SP, but investors are too aware of the rhetoric coming from Labour. Oversea is the way forward unless there is an outstanding reason, or means to an end to invest in NS assets at this given time.

aimo & dyor