Member Info for NewKOTB

Tensions are high in the region. About a fifth of oil that is consumed globally passes through the Strait of Hormuz.

https://www.bbc.co.uk/news/world-middle-east-48245204

You do like the word 'CRASH' don't you.

Answer my question first on these 'liabilities' and will be happy to put you right once more.

Anyone else notice the correlation between NI appearing and the SP being force down.

Anyone else notice NI love of being the doom merchant with de-ramping posts upon posts on numerous boards he frequents.

Anyone else think he's working for a 3rd party.

Christmas at the NI household must be a 'barrel' of fun.

So, we had our financials only 4 weeks ago ....

Our balance sheet shows net assets of $117m with know Financial liabilities due to the deferred structure of the BKR deal, to be paid from receivables leaving a net positive cash flow over the next 3 years.

For details on this please see p99 point 22

https://www.serica-energy.com/downloads/reports/2018-16-April-FINAL-ANNUAL-REPORT-AND-ACCOUNTS.pdf

Decommissioning, well we know that is right up to 2032, year off !!

So, I ask you again NI, what liabilities are you spouting on about and where's your proof.

Sorry ... wrong board lol

Anyone else notice the correlation between NI appearing and the SP being force down.

Anyone else notice NI love of being the doom merchant with de-ramping posts upon posts on numerous boards he frequents.

Anyone else think he's working for a 3rd party.

So ... where's the proof !!!!!

PS Brent up over $71/barrel .... with Trump and Iran about to kick off I expect both gas and oil to spike.

What liabilities are you on about ..... decommissioning, we know about those ?

You can not just spout a comment like that with out able to back it up ... so here's you chance.

Show proof or go play on one of your other boards you constantly de-ramp on.

PS UK gas price flat today atm

Didn't take long for our friend to surface .... morning

Likewise, 60% of BKR hedged at 35p/therm.
Brent up 40% on year.
BKR Production up 20% since deal completion.
Share of production up 25% since Jan 2019
Erskine back online and producing above expectations.
Tax pool of > $139m
Cash on hand >$105m and growing daily at an amazing rate.
2P at >68mmboe

RampO,

To correct your statement, Nickel Investor was never "shouted down", just challenged and corrected for obvious reasons.

Likewise, 60% of BKR hedged at 35p/therm.
Brent up 40% on year.
BKR Production up 20% since deal completion.
Share of production up 25% since Jan 2019
Erskine back online and producing above expectations.
Tax pool of > $139m
Cash on hand >$105m and growing daily at an amazing rate.
2P at >68mmboe

As for merger / takeover, I have already mentioned that this is possible and given Tailwind as both pray and predator.

See my previous posts.

Me, I'm more interested in the reason behind the daily management of our SP .... any comment on that ?

atb

250SWB,

"They could do both of course/but that is a timing issue"

Hummm, so lets assume we have someone interested in us but have not made a move ...so why not ! (TBH, I'm sightly surprise it has not happened already.)

As you point out, are they waiting for another BP style of deal to complete then strike !!!.

Would make absolute sense given the protracted nature of the BKR transaction, SQZ are in essence making an accretive deal year after year for next 3 years with little Capex. Add another similar deal and I would think SQZ would become a shining neon sign saying ..... 'come and get me'

Our current BKR et al deals have to-date failed to reflect themselves fully in our SP, add to this another deal which the market will no doubt take the same lame approach ...... and as the Cillit Bang man Barry Scott would say ....

"BANG and Serica has gone ! "

So, does someone know we are working on another deal, and timing of this would dictate our future !

Possibly.

atb

250SWB,

"so doing nothing is not an option for them. they have to deal on accretive acquisitions or themselves be acquired"

Indeed so, my money at this point in time is on the latter and may not be that far away imo.

gla

Interesting thought .....

Moving that thought process on, how about using our platforms as future 'hub' for renewable's that would help push out the decommissioning.

Mount turbines above and below the platforms, heat source pumps from current wells to run turbines, wave, wind and solar etc etc. Or just turn it into one massive hydrogen power station Sure we could have options there ! Get Ms Sturgeon onside with tax breaks ... hey presto !!

We are well below our 100 day VWMA of 126.2p, so oversold imo

Big transactions today totaling +200k.

Normal trades very light, but as usual BoT was predominate throughout the day.

Looks like it's going for the gap to close at 118.5p (pre results RNS) ... before we move back up with a bang !!! (one hopes)

L_Y,

The two you quoted have large debts and in today's market that impacts greatly on the companies market valuation. We have no debt and are barely valued at cash atm

If you read my previous post, I suggest how it is possible and the timing of this is critical, so any buyer can make use of the favorable fiscal terms Morocco are offering and those yet to be declared. Yes, the board will need to do something they have failed to do, ever, and that is pull off a stonking deal for the benefit of shareholders. So in that respect, CoS is low, but then again so was an all English European Cup Final.

atb

Interesting that today after yesterday intensive BoT action it all changed today.

Morning, up until mid-day only a handful of BoT trades and very light trading in general, only just a little more than 20 trades all morning.

Now, even more interesting is the sudden introduction of the BoT at just gone 1pm ..... heavy percentage of BoT transactions accounting for appox +80% of trades. Are an american east coast outfit involved ?

Looking forward to next few sessions.

gla

Hotting up ... and that's not referencing the UK weather.....I'm talking about Morocco's gas development drive as shown by holding their 2nd O&G summit recently.

https://www.morocco-summit.com/

https://www.forbes.com/sites/gauravsharma/2019/02/13/moroccos-energy-industry-in-the-midst-of-a-massive-shakeup/#eaf3f93b7a16

Morocco offers great fiscal terms and net backs atm in comparison to other North African players, Egypt for example, and this appears will only get better in the medium term. CHAR should fast track the 3D's, get the CPR completed pronto. Then sell the whole licence to the highest bidder which would not be too difficult imo with Morocco ambitions to promote gas development.

I do not want us to start drilling again, either alone or a partner as this would clearly lead to dilution on the way, never mind the time it would take. Partner on a free carry would minimise dilution but is still not the way we should play this licence.

Sell and distribute gains to shareholders, end of !!

aimo

I would suggest to just sell the whole lot ..... or at least enter NDA negotiations with the view to selling.

Should easily get $300-$500m , or over +100p per share and return to shareholders

To make it clear, the de-list is from TSX and simultaneously re-list on AIM as SDX Energy PLC

http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SDX&ArticleCode=9kiiv649&ArticleHeadline=SDX_Canada_arrangement__South_Disouq_Update