Member Info for NoQuestionMarks

Maybe now is the ideal time to buy the remaining Triton hub assets.

52% of the Triton FPSO from KNOC and the other 2% from Waldorf.
90% of Guillemot West from KNOC
90% of Guillemot North West from KNOC
As operators and 100% equity owners we would receive full benefit of any efficiencies, field life extensions and tax allowances.
Erskine 2.0?
https://www.offshore-technology.com/marketdata/guillemot-west-conventional-oil-field-uk/
https://www.offshore-technology.com/marketdata/guillemot-north-west-conventional-oil-field-uk/

The company will give all staff a 9% pay rise in April.
Added to the 2022 pat rise of 8%, £1000 and an extra 5 days holiday makes our company the most enticing of employers in the leisure sector.
As long as the bottom line continues to grow I am all for it.
"Happy wife, happy life"
https://www.thetelegraphandargus.co.uk/news/23282838.jet2-com-jet2holidays-nine-per-cent-pay-rise-staff/

Jeremy Hunt speaking about Enterprise this morning.

Hunt turns to "the first E", which he says is "enterprise"
If the UK is to be Europe's most prosperous economy, we need to have its most dynamic and productive companies, he says.
Hunt also says high taxes directly affect the decisions of investors about investing in Britain.
Our ambition should be to have "the most competitive tax regime of any major country", Hunt says, which he says means "restraint on spending".
The chancellor says he wants to turn the 'E' into an enterprise culture built on low taxes, reward for risk, access to capital and smarter regulation.

Competitive tax regime?
Reward for risk?
Not to the oil and gas industry it would seem.

The really sad thing is that Labour in cahoots with the SNP, Greens and Liberals will shut down the UK's oil and gas industry completely, if and when they get into government.

Didn't think we would break the £12 barrier quite so soon (I am certainly not complaining!)
Will we hold above £12?
In January we have risen by over 20% so I wouldn't be surprised to see some profit taking.
I am going to hold and expect us to test £14 before July.
A very robust update today, head and shoulders above Easyjet IMO.
The potential here is astronomical as the market still doubts our ability to be the UK's No1.
Holding firm.

Net cash 31st August 2022 = 31.3 million euros
Net cash 31st December 2022 = 129 million euros
A buying opportunity IMO, but, as always, DYOR.

troubledseller,
I have used them both for 15 years or so.
I've never had an issue with either, online communication is good and they are always available on the phone if you do.

troubledseller,
Doesn't sound too professional does it?
I use interactive investor for my stocks and shares isa and HL for my SIPP.
On either you can be sure your vote is counted as you get a notification, and, should you change your mind before the cut off date you can change your vote.
Interactive investor
https://www.ii.co.uk/investing-with-ii/shareholder-voting-information
Hargreaves Lansdown
https://www.hl.co.uk/shares/corporate-actions/agms-and-shareholder-voting

troubledseller,

It is proposal number 1 (There is only one proposal on the agenda)
It isn't an EGM, it was changed to an OGM on the 11th of January 2023.
FWIW I use Interactive investor and Hargreaves Lansdown, both allow voting online. Interactive investor is far better than HL in my opinion, certainly cheaper!

Hargreaves have just added the ability to vote online for shareholder meetings, you don't have to go through the secure messaging route any longer.
It doesn't work in the app. just the website

1. Login
2. On the right hand side of the "My Account" page you will see a heading "Shareholder meetings"
3. Click the "view shareholder meetings" link below the heading
4. All shareholder meetings affecting you are listed here.
https://www.hl.co.uk/shares/corporate-actions/agms-and-shareholder-voting

Isn't it wonderful!
Only around 300k shares sold today.
I think there's around 7-8 million to be bought back.
As the price rises, the panic grows!
Good luck all

Tour operators seem to be falling over themselves to tell the BBC that bookings are on the rise, average spend per holiday is up and bookings are back to 2019 levels.
Jet2 said when asked to comment, "...this summer would be its "biggest ever programme on sale"....."
That's a tongue in cheek "things are going better than we hoped" in my opinion.
Hoping we can hold in the 10's before pushing on to £12 in the spring.
Good luck folks.

https://www.bbc.co.uk/news/business-64234234

Just sent my NO vote to HL via secure message.
At the end of the day I see too many uncertainties in this transaction.
Better to hold the cash for a more favourable deal, or, if all else fails, return it to shareholders.

I have sent a couple of questions relating to the FPSO.
Thought I'd pop them here to help prevent duplication.
We need to get as many questions in as possible IMO.

"I would like to pose two questions for tomorrow's investor meets company meeting.
The Triton FPSO arrived in Teeside in December 1998 and was commissioned in 1999.
The design life of the vessel was 20 years.
That makes the vessel approximately 23 years of age, beyond its design life.
My questions are:
Q1. Have you considered how the age of the vessel will impact future production?
Q2. When will the Triton FPSO need to be replaced?"

SpArmada,
Thank you for the links, they have proven to be very useful.
I see what you mean... The declines at Laggan, Glenlivet and Tormore all seem like natural decline and Edradour has fallen off a cliff.
At Q10-A we will just have to wait for news, but again the trend is generally downwards when looking back through 2019, 2020 and 2021.
I'm confident that management will act in good time to replace the lost production, another go at Serica maybe?
350p per share all cash would do it I think.

many thanks once again,
nqm

An all cash offer at 360p would be acceptable to me too.
By agreeing to sell 25% of OUR company the board clearly believes that 278p is a fair valuation in this new high tax environment.
How could they justify not giving us a vote on a bid ~33% above the price mercuria is willing to pay?
I prefer an all cash offer as that would presumably ensure the current board has no part to play in the future of Kistos/Serica.
nqm

The BOD of Serica have agreed to sell 25% of the company at 278p per share.
As a holder of Serica to say I'm furious is an understatement.
If Kistos can get the cash together for an all cash offer at 359p a share I think SQZ shareholders would bite AA's hand off.
That is if the SQZ board give us a vote...
nqm.

SpArmada,
Would you be so good as to put a bit of flesh on the bones.
Any production figures you have for NL and GLA will be greatly appreciated.
nqm.

I agree with the majority here that the deal looks like a stinker.
Aside from the dilution and lack of financial detail offered by MF and AB yesterday, I am a little confused about the combined 2023 production guidance of 40-45k boep/d.
In the first half of 2022 we produced 26,600 boep/d.
Tailwind produced 14,000 boep/d in the year to 31st Dec 2021, down slightly on the 14,100 boep/d in the year to 31st December 2020.
In September Tailwind announced first oil from Evelyn, and at the same time they installed a second production line from the Gannet-E field.
On the 12th of September Tailwind said "The flowline was successfully commissioned and brought into production on 11th September. This allows increased production rates from the existing three Gannet E wells, plus provide debottlenecking for a fourth Gannet E well, planned to be drilled in Q4 and will be brought into production via the new line in Q1 2023.
Evelyn and the Gannet-E expansion projects are expected to add over 10,000 boe/day to Tailwind net production."

So, 26k + 14k + 10k = 50k...
Where are we losing 5-10K?

Help please

I couldn't help myself either, a near 10% drop is a gift.
It is worth remembering we have a $2.6bn UK tax loss position available to shelter profits.

Hunt has to put a floor on prices to give certainty to operators.... surely he can see that?
If a few more CEO's show some backbone I feel he could be persuaded.
Mitch Flegg... are you listening?