Member Info for NewKOTB

That's the problem with youth of today, in our day you had to get off your rear-end walk to the shop, climb half up the shelving to reach to top shelf .... now it's all to 'hand', never mind going out and getting a 'job' !!! Too much time on their hands, amongst other things !!

Sad, sad existence !

aimo & dyor

Well that UT was worth the wait ..... ;-)

Closed +9.2p (+4.09%)

Well, well ..... lines drawn :

An additional 1 million cut from Saudi Arabia starting in July

Plus ;

All nine countries have announced the extension of their voluntary cuts until the end of 2024

Plus :

Saudi Arabia will extend its voluntary cuts of 500k till the end of 2024

Well, well ..... lines drawn :

An additional 1 million cut from Saudi Arabia starting in July

Plus ;

All nine countries have announced the extension of their voluntary cuts until the end of 2024

See resolution 13 is looking to up the amount of shares Serica can buyback, now we issued more to Mecuria et al .... resolution is to buyback up to 38,322,063 shares plus other small print pertaining to the buyback price.

Plus resolution 11, seeking auth to allot up to 12,646,281 x 2 shares as per :

https://www.legislation.gov.uk/ukpga/2006/46/section/551/data.pdf

Resolution 4 is to re-appoint Mitch Flegg .....

As mentioned, vote now !!!

aimo & dyor

That said, POO's on a knife-edge ... could go either way large on Monday.

US could always buy heavily discount oil from Russia / Iran .... (maybe they already are ?) lol

Agree with WI, even though US will get the traders on-side, the cuts will affect POO.

Saudi's want to show who holds the purse strings and US think they can still control the petro dollar, things are coming to ahead. Yes US want POO lower, but think it will be very difficult to achieve that esp as active rig counts in US have fallen yet again.

aimo & dyor

Getting harder day by day to justify our BoD rejecting Kistos offer of ~£1bn less then 12 months ago, whilst our MCap is still well below AA's offer price ... that's including the newly merged Tailwind assets too which we paid how much for !!!.

Not sure what has happened to our rabbit being pulled from the hat, maybe its been roasted with garlic, rosemary tomatoes, olives, mustard seeds served with seasonal veg, sauté potatoes and freshly baked bruschetta with drizzel of olive oil.

aimo & dyor

If this doesn't attract investors ( unfortunately traders too ) don't know what will ....

https://www.dividenddata.co.uk/exdividenddate.py?m=alldividends&fm=&sc=y&st=1

aimo & dyor

"Algo's have had a meltdown lol.." On a serious note, as use of AI increases, chances of a human investor able to make a return reduces markedly .... Man vs Machine, only one winner imo

Guess yanks just placed a big order to fill ....

Upomega,

"Bod felt hedging was not practical when prices were high", well I think you could probably rephrase that to say 'Mercuria felt hedging was not practical when prices were high', or in other words, wasn't in Mercuria's interest to offer us a good deal or our BOD grow some and go find another counter-party that will !

Example of Ithaca's hedges : "At 31 March 2023, 10.7 million barrels of oil equivalent (68% oil) hedged from Q2 2023 into 2025 at an average price floor of $70/bbl for oil and 189p/therm for gas.."

On the plus-side remaining pre TW deal, our pre-existing hedges fall-away soon. Remaining atm are :

Q2 23 42.2p 100,000 therms per day : Q3 23 40.7p 50,000 therms per day : Q4 23 NIL

However, we have now replaced, with the TW deal, more overhang :

2023 (from 23 Mar): 11,000bbl/d at US$58/bbl : 2024: 4,000bbl/d at US$74/bbl

Of course one reason for not taking out more hedging could be the need to gain RBL with hedging for any future deal, as such BoD didn't want to lock anymore in. The official line in this years annual report stated, "Due to Serica’s increasing financial strength, the company has not entered into any new gas hedging since July 2021.." even though we have substantially less cash now and not to mention debt from the TW deal.

aimo & dyor

Upshot of AA interview ..... 'WFT IS NOT GOOD'

Pity AA kept getting cut short on his reply and wasn't given more air-time. We do need more and more media exposure like this in order to at least force gov to look at and very at least amend with a half decent floor.

Thanks for the link :-)

aimo & dyor

US with SPR refill will need to watch their back as OPEC+ meeting this weekend have for the first time banned journalists from attending .... no guessing how the Saudi's want to play this !

aimo & dyor

NAV_Mike fully agree ..... unless y11-shx also has 'issues' or is part of the 'crazy gang'

aimo & dyor

With the level of automation and tech nowadays, inc smart meters, why oh why can the gov not ensure the 'price cap' is revised monthly. Use to be 6 monthly, then last year moved to quarterly. Problem is we are now at normal levels for both Brent and NBP yet consumers / business are still stuck with high prices seen last winters due to the price cap mechanism. Energy companies should be made to offer fixed term competitive 6/12/18/24/36 month options for those who want stability in their bills, others can take the option of monthly adjustment via the variable tariff OR what should be know as Price Cap Tariff. Gov could even ensure there is still a 3 month Price Cap Tariff option as is atm. If this was in place current bills would be as they were pre war and more importantly offer gov the exit route to withdraw the O&G WFT. They could replace 'lost' taxes with going after other sectors, food, commod traders etc even the City ( as if).

Everyone knows there is absolutely no reason to be taxing NS players as is atm .... yet the yellow bellied politicians are only in it for themselves and not the good of the man in the street or UK PLC.

Just appears insane to me that tech is not used more fully to lower energy bills.

AIMO & DYOR

For the comparison :

MITCH Flegg's remuneration :

2020 - £520,522

2021 - £865,022

2022 - £1,014,460

God only knows what 2023 will be like given the 'you scratch my back' Mercuria / TW deal.

PS This excludes LTIP's of 1,121,064 free shares

aimo & dyor

That some increase on last years for what, giving away vast proportion of our company .... Especially awarded to Andy Bell, who will be leaving soon.

2021 Awards :

ACW £591,500

MF £865,022

AB £195,062 (£617,928 for this year))

Point proven afaic, 'bully', strong language used there my friend.... absolutely NOTHING i have posted point in any way to my posts being that.

aimo & dyor

I'm surprised we have yet to instigated our Buyback, even at a modest level.