Member Info for NewKOTB

One of the issues ( there are many btw ) with the WFT is the closer the O&G price gets to this this 'target' the less money O&G's make ... what if it hovers just above for months, years before the sunset clause ... I tell you now, no one, I mean no one will be investing a penny into the NS. We could end up with 2 or 3 years of zero investment, where would that leave Rishi's plans and the reliance on energy security ... in the bin, that's where.
I'm sure the industry will make it absolutely clear tomorrow about their thoughts ... problem is Rishi has painted himself into a corner with very, very slow drying paint.... assuming the idiot picked up paint off the B&Q shelf and not 'glue' .

aimo & dyor

Strange opening this morning ..... hummm !!

Will traders RISK it for a Swisskit on this RNS .... given "We will be announcing independent third party validation of Anchois resources through a CPR shortly...."

Massive gamble if so, as 'shortly' could even be this afternoon !!!

Selling on this RNS could seriously damage your wealth, buying is a better option.

aimo & dyor

Mani01,

You forgot, more buys than sells too ....( lol )

Never mind, dividend day next week, we will probably go up even with our 9p dividend ...( lol, part 2 )

London, 21 June 2022 - Serica Energy plc (AIM: SQZ), is delighted to announce that Jérôme Schmitt has accepted an invitation to join Serica's Board as a Non-Executive Director with effect from 1 July 2022. The Company also announces that Richard Rose is stepping down as a Non-Executive Director with effect from today's date to take up a full-time Executive position within the sector.....

Great coverage as you say ....

"Anchois houses almost 500 billion cubic feet of gas resources, according to a May presentation available on the company's website, although actual volumes could be double this ammount.

There is a further 1 Tcf of potential held in nearby prospects, while prospects mapped further afield in the Lixus licence have the potential to host another 4 Tcf of resources..."

GL,

Sad to say, more likely than not given their recent selling history..... :-(

"yet we have been kicked and battered down to needing a ~40% rise to return to our ATH....."

Hummmm, usual premium to an approach is in the region of 30-40%, just saying, if so, someone will be getting an absolute bargain.... for me I would like it to be upwards of 470p.

Off outside now to get that bronzed adonis look ....

aimo & dyor

Upomega, I would so like it to be an approach .... !!

Oh, also KIST are almost back to their ATH too..... yet we have been kicked and battered down to needing a ~40% rise to return to our ATH.

We are fwiw, back, sat at >50% (est >£415m) cash and equivalents of our MCap with zero debt atm. Producing ~28kboepd net with ~60mmboe reserves from 5 producing fields and very limited decomm liabilities. About to kick-off a game-changing drill in a matter of weeks and going ex-dividend with yield of ~3% next week too.

aimo & dyor

Our SP should not be sub 300p ..... so I ask myself what's holding us back. One thought I can not get out of my head is we are about to require significant capital and our CoH of ~£415m (>50% of our MCap atm) will not be sufficient. So either we raise via RBL and / or equity issue. We know the Mr Market always gets to know well ahead of us PI's, particularly when financial markets are involved. Fridays fall in our SP was, as previous posts pointed out, totally unjustified as a one-off can be accepted but these big falls have been happening for several weeks now on any excuse the market can muster. Our SP continues to be pinned back !!

Could always be a precursor to an approach too of course !

Just my thought/s for today .....

aimo & dyor

Jimmy,

"This would not be happening unless the CPR for the reserves is going to be good....."

Agree, however I would go further and say that the CPR is nailed on for being good as this latest RNS to me implies either a farm-in, part sale or RBL will be gained. The markets snuffed the RNS as it thinks CHAR will, as it stands struggle to go it alone and a positive FID is not visible at this given moment. What this RNS also does for me is provide confirmation that our Mgt are not sitting on their rears and waiting for things to happen, proactive and aggressive is how I see today's RNS. Long may it continue.

PS. We are getting closer day by day to several major RNS's that will move us up to the next trading level or possibly beyond imo !

aimo & dyor

What a Mgt team we have here .... there will be significant supply chain problem going into H2 2022 and well into 2023 imo. Key equipment now taken care of and before prices rise due to lack of availability of services and components too.

Should DT get anywhere near previous ~89% gross margin and they fail to make op's profit on that I would worry. Given recent guidance I have no worries here. Market demand for DT's products is high and expected to remain so for foreseeable imo.

aimo

"Darktrace generated a net profit of $5.9 million, compared to a net loss of $48.4 million in the prior period. For comparison, that prior period was impacted by $42.7 million of non-recurring finance costs largely related to convertible loan notes eliminated in the intervening period. At the EBIT, or operating profit level, the Group generated a profit of $8.6 million, a $13.5 million increase from a $4.9 million loss in the prior period. This improvement was primarily the result of increased head count and is driven by period-over-period revenue growth of over 52.3% outpacing the growth in operating costs....."

DT made profits, in op's, gross and net ....

https://www.lse.co.uk/rns/DARK/half-year-results-tqgcd6rle3iw85p.html

We need more companies to come out and say the same ..... NS is no longer a stable investment environment, 'we can deploy our capital better elsewhere and will do so if things don't change' ...

----------------------------------------------

"Sources said Equinor wants the Government to change the terms of its so-called Energy Profits Levy before committing to the investment.
Shell has separately told analysts it is also less likely to develop the £2bn Cambo project in the North Sea after the introduction of an additional 25pc tax on energy company profits.
It is understood the Business Secretary Kwasi Kwarteng wrote to Mr Sunak last week to express concerns about the risk to investment in the North Sea and the lack of consultation with the sector..
Energy companies have warned that the hike in tax will deter investment in the North Sea just as Britain tries to secure domestic supplies of energy rather than rely on imports in the wake of Russia's invasion of Ukraine.
They have complained that the windfall tax will push multinational companies to invest in jurisdictions with a more stable fiscal policy..
Rosebank is a £4.5bn decision when they've just changed the tax terms. It's real money and you wouldn't want to spend it if you thought people were going to move the goalposts again."

https://www.msn.com/en-gb/money/other/norway-threatens-to-abandon-c2-a345bn-north-sea-oilfield-over-windfall-tax/ar-AAYCc7j?fromMaestro=true

Volume, ~3.9m, 82% of trades via BoT's

Trades over £100k
tradeTime currency price volume tradeValue type micCode tradeType venueOfPublication
2022-06-17T16:35:13.067 GBX 301 281166 846309.66 UT AIMX P
2022-06-17T18:06:35.000 GBX 309.284 108581 335823.66 Off-Book XOFF TNCP ECHO
2022-06-17T11:22:06.903 GBX 320.5 62500 200312.5 Off-Book SINT P ECHO
2022-06-17T13:52:50.873 GBX 322.5 55000 177375 Off-Book XPOL RFPT P XPOL

https://thepressunited.com/updates/france-no-longer-receiving-russian-pipeline-gas/

Wouldn't be surprised the see massive WTI / Brent reversal after we close, leaving us high 'n' dry at -6%

GL,

Exactly, hence, to my disdain, why SQZ has become a fully-fledged 'traders' stock .... traders have no real detail on their trades, just use market momentum ... WTI / Brent dropping ~5% .... SELL, SELL , SELL SQZ .... As you say ~85% of SQZ production is UKNat Gas.
Poor end to what otherwise would have been a half decent week.

aimo & dyor

We are fwiw, back, sat at >50% (est >£410m) cash and equivalents of our MCap with zero debt atm. Producing ~28kboepd net with ~60mmboe reserves from 5 producing fields and very limited decomm liabilities.