Member Info for originalharrystamper

I posted this beginning of Dec - posting again as a refresher for new investors:

So, SENX owed the European Bank for Reconstruction and Development (EBRD) $32.5m which was made up of a CFD of $20m and accrued interest of $12.5m. The EBRD has now agreed a deal with SENX to accept $16.5m and 9.9% of the allocated shares (at no cost) to settle $32.5m of debt! Wow! Not only that, they will not dispose of these shares for at least 12 months. So good was this deal that SENX raised $21m over night (oversubscribed) at 2.00p per share!

Where is this money going then?:

The net proceeds will now be used to pay $16.5m to the EBRD (plus the 9.9%) to FULLY pay off the loan and the remainder for the installation of the first pumps in a well work over programme on the Sabria field in Tunisia. The Sabria field is a 358 mmboe Oil Initially in Place (OIIP) oilfield that to date has had a recovery of 1.2% of the OIIP. The Company believes that this field is an excellent candidate for an artificial lift programme as to date NO pumps have been installed in this field. This project is predicted by SGS to realise an incremental 3,960 boe/d of gross production!

The Company has already increased annual average production from 379 boe/d in 2017 to 2,415 boe/d in the nine months to 30 September 2020.

Additionally, SENX are planning to begin drilling the Moftinu-1008 production well in the Moftinu field early in 2021. This well, upon successful completion, will be tied into the production facilities at the Moftinu Gas Plant. Similar in design and target zones to the Company's three previous production wells, the Company anticipates initial production of approximately 5.0 mmscf/d. They plan to drill a second well at the Sancrai prospect which is located 8.5km to the south west of Moftinu.

They have also reduced the per barrel of oil equivalent cost base from USD22.81/boe in 2016 to USD8.96/boe in the nine months to 30 September of 2020!

MrN - have you read the Q&As on the D i r e c t o r s T a l k site? Very good

Apologies, this was in response to the post regarding the 2 x 3p trades after close

I doubt it considering there was also a 3.6m share sell @ 2.40p

Seriously good and also this: https://youtu.be/VA3M8ijRGCg

D I r e c t o r s T a l k

Yep, very nice day today - for a quick ‘one stop shop’ for bags of up to date on fo on the company and some decent Q&A with the CEO, check out ************* - no link as they don’t work when you put them on here

OT and fellow SAE’ers! Been in since just after the placement RNS in the summer when I managed to bag my investment at 13p! Didn’t sell a bean even when it went to 30p (thought it would keep going!). Dabbled a bit with some trading when the NRW announced the request for extra time to decide and other fluctuations which has allowed me to accrue some more shares for less overall investment. Topped up further at 18.6p on the recent fall back but alas, that wasn’t the bottom but had no funds to add any more when we went sub 15p. Great day today and hopefully more to come over the coming weeks and 2021! OHS

No chance of being able to sell on that spike! I couldn't even get an order for £200 worth! Can't see me being able to sell for a realistic profit for a while - at least until the investors have cleared their profits. It was very nice looking at my account balance though! I'll just have to accept it as a paper profit until this settles with more support - probably Jan time now when the drill spuds perhaps

I’ve never been a fan of RNSs that say equipment has been delivered to site etc... (used to see them a lot in oil companies when rigs were mobilised etc....). This RNS however is a very important reminder of the other projects running concurrently with SUP and this one in particular is a significant one with huge potential to expand SAEs tidal prowess outside of Europe and indeed, onto the global market

This really is good news mate. Some will say it’s nothing new but it is. People need to read between the lines to see the significance of this RNS; “We expect this fuel to be in high demand and securing supply for Uskmouth through our ownership of NPA Fuels is an important step towards achieving financial close”. This is a major building block required for the success of SUP - no point having a converted coal fired power plant if you have nothing to burn! Secondly, “NPA will produce Subcoal®, a high-quality waste derived fuel product for sale to Atlantis owned assets as well as to other converted UK coal fired power stations”. Once EP is approved for subcoal PAF at SUP, it literally opens the (boiler) doors for every other converted plant on the UK to do the same (research DRAX conversion to wood pellets and the difference subcoal PAF would bring!). Furthermore, “NPA is now driving forward planning, permitting and consenting for multiple fuel production plants ("FPPs") in the UK” - MULTIPLE, not one or two - MULTIPLE. This fuel will literally ‘revolutionise’ the industry like they say! All the best, OHS

Morning OT, funnily enough I went down the same route of research when I noticed the target had changed. I contacted a member of the research team at Arden who pointed out (and I can’t believe I missed it) that the July report and therefore the broker target at the time was written before the placing that was announced in the RNS 6th August! The placement therefore quite rightly had to reduce the target due to the dilution. What is very much more important here though is that the earnings forecast was unchanged. Furthermore, having since also been in contact with SAE, they confirmed that the target will remain at 67p and unchanged by the latest RNS and investment agreement. Better to under promise and over deliver. OHS

Earl, you beat me to it - I'm just watching it now

https://www.youtube.com/watch?v=VA3M8ijRGCg

This Q&A from Directors Talk is a good brief on the positive expectations for 2021:

Q4: Finally, how does this affect Serinus Energy’s longer term plans?

A4: Well, again, the size of the debt, & this was legacy debt, it was put in place in 2013, when the debt was signed brent crude was trading at $108 a barrel so the world really changed, but with $33.7 million of debt, the terms were that we would pay the EBRD just over $8 million every 30th of June for the next four years.

So longer term, now that that debt is retired, we don’t have that significant chunk of cash flow coming out of the business. So, like I said, we can invest in the business but we can also get to a position where cashflow generation covers all of our capital plans, all of our operating costs & and at that point, we can decide how to allocate that capital.

We can allocate to new projects, we can distribute to shareholders, we can do a whole bunch of things but very clearly by relieving that burden of having to pay a significant chunk of the operating cashflow out to service debt, it really does free up the business to be able to do more operations.

Additionally Matt, they could technically invest the 4 x £2m amounts over the next 9 months (first one due now and then 2 at 3 months, 3rd at 6m and 4th at 9m) and then subscribe for an allocation of £8.36m (4 x £2.09m as per RNS) and get a 5% discount or wait a further 9 months and get a 10% discount.

Matt - they have 24 months to apply for the shares so not necessarily taking them now (although they would be crazy not to imo). What there are confirmed to be getting now is the 947,368 shares for the commencement fee and an additional 1.8m shares. Interestingly, as the SP at the time of the RNS was hovering just below 16p; 947,368 shares at 15.833p = £150K - seems an appropriate nice round figure!? OHS

Directors Talk links don't seem to work on here? Go to their website and navigate from there - loads of info, Q&As with CEO and interviews to listen to.

Have a read of this Olderandwiser: https://research.arden-partners.com//view_repos/_d02c66bf-624f-4e60-a65b-8ae1821f38d7.pdf

You may need to sign in but it is a very detailed broker report from Arden. Similarly, have a good look at this: https://www.***************************/serinus-energy-plc/senx.l

and also listen to this interview: https://www.***************************/serinus-energy-increasing-production,-increasing-cashflow-interview/412942916

Hope this helps, OHS

2.39 live buy price. Glad to see this day finally come after the news of the placement. Hopefully this can start being properly traded over the coming weeks/months as the company moves nearer to commencing it’s programme in early 2021. Lots in the pipeline and much more to come I believe