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https://www.youtube.com/watch?v=HT9xEzw3Nto

Well, who would have thought .... closed on day high ... guess Blackrock had drag on SP.

Build on this, gain some momentum then we can await share issue & completion RNS on Monday.. ;-)

aimo & dyor

Reduced .... ummm !!

https://www.lse.co.uk/rns/SQZ/holdings-in-company-r1rsuoknllasw74.html

BB / MMT / TS,

Agree, many old-hands (pre TW deal) would probably feel / think the same, will we be prove to be right or wrong. All I know is, I too move a slug of capital from SQZ into HBR / DARK / CHAR recently as I have yet to see a share diluted by ~40% and their SP climb in the direct aftermath. Enormous uphill battle now, some may say impossible, for Mitch to prove us wrong and return SQZ to ATH >454p/s

aimo & dyor

sasa ..... ?

With Brent at 18 month low probably have Mitch (Mercuria) add hedging(£) as low as possible all to the benefit of Mercuria ... that would signal 'boyz club' deal for sure.

Oh Boy, Mitch et al sure have something to prove now to existing shareholders esp one's like me who voted against this cloak 'n' dagger deal.

No response (p) from market at all on release of RNS atm.

aimo & dyor

Just have to wait for dilution to hit and how much the SP will rise / fall between now and 27/3

Place your bets !!!!

"London, 21 March 2023 - Further to the announcement on 20 December 2022 and subsequent shareholder approval on 27 January 2023, Serica Energy plc (AIM: SQZ) is pleased to announce that the conditions precedent pursuant to the sale and purchase agreement (the "SPA") for the acquisition of Tailwind Energy Investments Ltd ("Tailwind") (the "Acquisition") from Tailwind Energy Holdings LLP have been satisfied (save for the condition precedent relating to the Admission of the Completion Consideration Shares, as defined below). Completion will occur immediately following Admission of the Completion Consideration Shares.

In connection with the Acquisition, up to 111,048,124 new ordinary shares in Serica (the "Consideration Shares") will be allotted and issued. An application has been made to the London Stock Exchange for 108,170,426 Consideration Shares[1] (the "Completion Consideration Shares") to be admitted to trading on AIM ("Admission"). It is expected that Admission will take place at 8.00 a.m. on or around 27 March 2023 and that dealings on AIM will commence at the same time. When issued, the Consideration Shares will be credited as fully paid and will rank pari passu in all respects with the existing ordinary shares of US$0.10 each in the capital of the Company."

upomega,

Yep, always an option for them : "company will be sold off quite quickly....around the three pounds mark"

If so, cumulative of the two deals would see Mercuria better off, circa ~£638m

With SQZ's newly acquired tax losses there is a chance several NS players could see this as a very good deal for them. Although that would certainly be seen by current SH as being s c r e w e d over by Mitch 'n' Co if 300p was the deal. More accurate valuation for newly combined group with ~94mmboe + CoH + debt + 40-47kboepd would be around £1.9bn or circa ~500p/s, giving Mercuira cumulative return of ~£832m for TW. Nice to dream !!!! zzzzZZZZZzzzzZZZZ

aimo & dyor

Pulling the deal would force the market to assign CoH to our SP as we are sat currently at or around negative EV. We can then put ourselves up for sale on the same metics used by our board offered to TW…. Should easily be in excess of 400p/s in that case .

Aimo & dyor

Should say something that you have Pizza's outperforming SQZ since WFT, by a country mile too. Guess Pizza's are critical to the economy and security of UK, without them, no more Downing St parties. !!!

https://www.theguardian.com/world/2021/dec/16/boris-johnson-joined-no-10-party-during-may-2020-lockdown-say-sources

aimo & dyor

Upomega,

Agree, absolutely, HMG have no reason to at very least, express interest in amending this ridiculous tax. Current Brent sitting at ~15 year average ( not adjusted for inflation btw) and NBP now sub 100p/therm and looking likely to stay well below atm. No way should any form of tax be applied at these levels, WINDFALL this is not, just normal supply / demand / supply cycle but unfortunately the gov don't have the dilly dangles to correct their mess, maybe in Autumn budget but by then NS O&G will have turned their back on investment or at very least significantly delayed FID's in UK waters. To top it, we now have mass strikes on rigs, talk about workers shooting themselves in the foot by shutting down production. If anyone should know the perilous state of the UK industry these guys should.

aimo & dyor

Then you have SQZ , current SP ~215p with FAIR VALUE £11.93

https://simplywall.st/stocks/gb/energy/aim-sqz/serica-energy-shares/valuation

sasa,

"the reduced value for Tailwind might possibly jeopardise it?.."

Why did Mercuria want SQZ to takeover TW, putting aside the massive equity handed over on a silver platter, they would not have done the deal, period. Given the slide in our SP and CoH ~£550M (Current MCap £560m & ZERO debt) atm, Mercuria via TW could offer us ~300p/s, that would cost ~£270m net, recoverable within next to no time. That would allow Mercuria / Tailwind to milk the assets & remove cash a lot faster than having to wait +18 months to make their move. One can only guess that Mercuria are looking for a 'better' end game. Mitch, you can stop this deal but I doubt you will.
Norma, you stated that HBR and SQZ had similar falls in SP so you don't think its TW specific. That leaves the question, how much if any of the dilution is baked into the SP ? I've cancelled all my orders and reduced holding, like NQM, given current conditions and SP the dilution aspect really concerns me with a nasty gap on the charts too.
With quadruple witching tomorrow, Mercuria will probably have been probably working towards Mitch releasing completion RNS ... what better day ... NOT !!

Time for emotional outburst : What an utter S H I T S H O W this share has become in little over 6 months.

aimo & dyor

Well, no reason now for these not to start on first opportunity, unless Mercuira says 'NO' that is !

"Swiss National Bank says it will provide Credit Suisse with liquidity if necessary.."

https://www.cnbc.com/2023/03/15/swiss-national-bank-says-it-will-provide-credit-suisse-with-liquidity-if-necessary.html

Dubhlinn, Yes, sorry, should have been in quotes as it was extract from MSN news ..... no other detail on other banks in that article that i recall. I'm afraid can't find the original article to post link, sorry. atb

As for GL, for as long as I can remember you add zero ( usually less than tbh ) to this BB and I have to-date given your posts the respect they demand, so you would be glad to know, forthwith you are now filtered.

BP has fallen from recent 4 year high down ~6% today, whereas SQZ has fall to 18 month low today from ATH only 7 months ago.

GL,

You are such a happy sole (lol).... In answer to your question, yes he is, as capital should of been deployed in an accretive manner way before TW deal, plus there was no reason why capital via special dividend has not been deployed either, or better still sold to KIST last year.

aimo & dyor

Tailwinds debt is held with an unspecified 'syndicate of banks', so yes MF could be accountable if the banks go bust and debts called in.