Member Info for philjayjones

The 3 big hitters you've mentioned there have already sold up though.

This is starting to feel like a long distance, protracted and slightly awkward disagreement with a piece random word generation software.

Ironic . Please elude.

I just found it ironic that you comment on how somebody has 'reality' when your grip on it seems so thin.

I'll be honest I just can't be bothered listing the absolute guff you have posted. Masonic meetings and 80s American drama plot lines would feature though.

Then there is the obvious barely legible ramblings when you are leathered.

When you first started posting here you decried the behaviour of posters from another board you had used, hoping that here would be more friendly. I think it has been, I've never used another board where your posts would be met with as much tolerance and/or indifference.

Ironic you talk about reality.

That's pretty strong, certainly escalating it up from the playful bird banter.

The only one to have out of them is Harding and only if the gas export project is still a possibility.

Cormorant Alpha, Eider, North Cormorant and Tern are all at the end of their lives.
Out of the Braes, Bravo is no more and East Brae again is towards the end of its life. Brae Alpha has some life left but you wouldn't want to get saddled with decommissioning costs, it's a beast of a place.

And what are either of those sentences based on?

Unfortunately I agree. BKR came out of the blue so there is always an outside chance but its hard to pick an obvious potential target.

For some reason you repeatedly refer to how lth feel and seem to think you speak for them? You don't speak on behalf of me that's for sure.

Last week you were worrying about R3 & R2 on rumour and now you are worrying about a placing. None of this has happened, yet you feel the need to discuss at length about how lth feel about it. You have also constantly raised issue with lack of comms.

Yesterday they release an RNS detailing info on columbus, R3 and eigg and what is your response? You ignore it! They communicate, answer some of your fears, give a bit of extra decent news about Eigg and you don't mention anything about it! Then today you are back on the doom train.

I don't think for one minute you are clever or connected enough to be involved in de-ramping, but what prompts you to post is incredibly confusing. If you start dealing in fact rather than rumour you might be a happier investor.

I totally get that frustration, the not knowing, especially when we are waiting for "good" news from R3, Columbus and possible acquisitions. But what do you want them to communicate?

I mentioned in a previous post about releasing news without substance and how the market reacts in a negative manner, this is then followed by PIs complaining on boards about releasing flat news. The market knows the upside of Serica as a company and if they then communicate their current status, reiterating where they are as a company without anything else to report, the market then goes "They've obviously got nothing on the horizon if they are having to remind us of this" prompting negative sentiment.

upomega, what assets have changed hands in the last 12 months that would have left Serica
a). Not having had to take on much in the way of debt.
b). As field operator?

They have clearly stated that both are fairly big points for any possible deal.

The only deal that stands out is the Andrew/Shearwater deal that has fallen through for Premier, I'd like to think that this is a deal that is very much still alive for Serica.
Incidently Shell were looking for large investment from partners in the Shearwater Hub, would serica be in a position and be willing to satisfy that request?

I think a big problem is that the BKR deal was a pretty incredible one, one that as a company Serica perhaps had no right to win. This has raised expectations and Company Status to a level which they may not actually be able to meet, though I sincerely hope they can. They don't have the firepower to match some of the North Sea deals over recent times, this is a fact.

Everybody, myself included, is increasingly frustrated by the SP. I certainly think there is something to the suggestion of manipulation, I'm far from an expert but things look increasingly dodgy with regard trades, though I don't get the end game it having been over such a long period, very annoying.

It does make me smile everytime you decry not having bought BP, a company you have declared you would never own, a company who you've regularly described as arrogant and one who "dumped their crap in our well".
It isn't too late though, for what it's worth I hold some BP shares and certainly see plenty of value as the world recovers.

Thanks for that.

By the sounds of it you are looking for a bit more excitement, with the exception of the announcement of the purchase of BKR, that has not been the company that serica is.
Other companies have made acquisitions in the time that serica have been looking, but none have been on the scale that serica could afford or could see value in, would you prefer that they bought something for the sake of it? Rockrose draw obvious comparison but they in my opinion got away massively with their purchase of the Brae assets, many made good money, myself included but it was a big risk, one that I'm happy for Serica to avoid.
Serica aren't in a position to purchase a multi field large portfolio such as previously held by Chevron, Exxon, ConocoPhillips etc who have been the big sellers, they are looking for smaller options where value can be added and won't result in massive debt or liabilities, I did think they would get andrew from BP and they may yet still, that's the only thing I thought was a real obvious option.
In terms of issuing updates, if there is nothing to update (which there hasn't been) what could and should they say? We all know how the market reacts to something released that's actually nothing.
With regards going through the motions I think you underestimate what it takes to be, let alone become an operating oil company.
Since acquiring BKR they've had major integrity issues both under their control and under the control of others - forties pipeline, Erskine pipeline , the abandoned caisson etc.
They've been involved in the unsuccessful drill of rowallen and are now part of the columbus development. They continue to progress what has become a difficult Rhum 3 resolution, they've reduced operating costs massively, had to deal with the permit issue every 12 to 18 months, been awarded licensing with Eigg a particularly interesting prospect given its location and that its pretty much understood what is already there having been drilled before and they are no doubt making plans for it. They have also continued to search for acquisitions that they see real value in.
This is all on top of the actual operating of a large offshore asset and all the things that entails.
Much have this has been done under the restriction and difficulties resultent from the covid pandemic, personally I think you should be giving a little more credit but that's up to you.

I am in no way discounting your frustrations and where you see issues, I'm simply explaining why I don't see things quite the same way.

Ultimately we share the same major frustration that is the SP, but I think there is little serica and its bod could or should be expected to have done in response.

Obviously I missed out Rhum 3 there but you get the gust.

You have been asked in the past upomega, but I can't recall any answer, apologies if you have and I've missed it and for my directness , but why are you still invested in Serica? I ask out of interest rather than with any aggression.

You obviously don't think it's a good investment given your constant running down of company, market and industry conditions (though interspersed with brief, fleeting periods of positivity), is it because however poor a proposition you consider it, you can not find a better one or is it simply a "fear of missing out"? I can only think that one or both of these is the case.

Investment choices are personal and there are many many reasons people choose where to put their money. Personally I am not remotely scientific. I only invest in industries I understand and as I don't have the time or understanding to delve too deep, I look at fairly simple and obvious criteria. When I invested in serica I considered there to be a fairly clear number of catalysts for growth. The BKR one surprised me as it did most of us and I count myself incredibly fortunate. As time has progressed these catalysts were and have developed as Rowallen (obviously a fail) Columbus, full ownership of BKR, future acquisitions (not so far, but I still believe it will happen), dividends, move to main market and now Eigg as a prospect.

In your latest post you list some of these somehow as a negative and not exciting for new or lth holders, speak for yourself.

It has been very frustrating I agree but you seem to give little credit to the pandemic and so market conditions. Some of the majors saw a 50% decrease in SP, Serica did drop but not by anywhere near as much and have also not seen any great rise as would be expected this time of year, neither has much of the industry. Personally I am hopeful that things will improve and recover over the next 12 to 24 months to what we might consider "normal", I also obviously hope that the catalysts I have identified will see the value I would like to see over that same period.

Interested to hear your thoughts.

I just wish they'd stop.

Wow you are on a roll this morning. Back in the good old days you'd have been dismissed as a nutter and largely ignored, much harder these
days unfortunately.
Considering every one of your posts is negative, if somebody replies negatively, does that then become a positive. Asking for beleaguered chat users everywhere.

Another valuable contribution, thankyou. What an absolute idiot you are.

Sorry FlyingF but your information is about 20 years out of date regarding ETAP.

Funny that you've drawn the line between acceptable and unacceptable at anything off-topic however calling people names and ranting across multiple forums in a barely coherent manner is ok.

Here is some free advice ; If you don't like what users of the board on ADVFN discuss, then don't visit it, but if you do then don't then come on this one ranting about it, there is only one person comes out of that looking an idiot.

The cash pile would be massive, I totally agree and I also agree that it would open up opportunities, however are they the opportunities that the BoD want? And does that cash pile make it more likely that a merger would occur? I'm not so sure and I know that that sounds incredibly strange even as I write it.

Serica to my mind have set themselves up to be nimble and agile. Taking on something like Parenco's assets and that dissappears. Their gas production numbers are enticing but the majority of their southern North Sea assets are to put it bluntly 'old crap', and lots of them. Any deal would have to be incredibly enticing to take on that level of liability in my opinion.

The strategies of both companies are on the face of it at odds with each other, could they be overcome to facilitate a merger?