Member Info for sasa43

Yep, the hefty U/T last night after several days of unusual activity is explained by the MSCI news and it's a positive for us, certainly, (increased exposure etc.,) although not indicative of anything else going on - not yet, anyway - sasa.

'Decent H1 numbers' in the event, as you say, rivaldo, (IFRS / compensation costs notwithstanding) although not that exciting, I thought.

Margins are holding up well, though and the possible hiving off of the BtR division might result in a separate distribution of that component to shareholders which is interesting. That sector of the industry is increasingly appealing right now...

H2 is invariably more 'punchy' so a 'firm hold' for me, fwiw - sasa.

the H/Y results are out next Tuesday, 21st, I believe and they should be good - sasa.

Thanks for these informative updates, rivaldo - much appreciated - sasa.

Yes, it's the ITV Studios back catalogue / current production hits content that's the 'jewel in the crown' here which might yet tempt a bidder for it (Liberty Global still has a 10% + stake, I believe) - this is what the likes of Netflix and other 'streamers' need for their 'supply side' - not the dross shows nor the declining revenues from TV ads.

Today's price seems too focussed on the latter, I reckon, whereas the desirable content element isn't valued much at all seemingly until, that is, someone makes a move for it. Whether that will be for the entire or just the considerable Studios asset remains to be seen - either way, the odds favour someone taking advantage of the depressed sp before too long.

With this in mind, I'm a firm holder currently; if we're not yet in the basement, we're certainly on the ground floor, imv - sasa.

When a poster makes a definitive statement like that, NewK, I want to know what he's referring to, just in case I've missed something. If your assumption is correct, then it's a 'non -event' certainly but always worth enquiring about, nevertheless.

I might be gullible in responding to his provocative comment but I never take things for granted with any investment, especially on AIM - been in this game too long for that - sasa.

What 'new cash LIABILITIES, pray tell? - sasa.

Yep, bonker - it's mkt rigging by any other name! The Fed's been at it for years and the only way to kill it off is for the buyers of the put options they regularly issue to suppress the price are bought to hold for physical delivery rather than just for trading purposes.
An 87:1 AG / AU ratio is the highest I've seen in a very long time, so maybe we're near the bottom now? - sasa.

Yep - I have to agree, unfortunately. The costs could be substantial and run on for a long time and the reputational damage will be considerable, too.

Just shows how the inept concentration on excessive pay awards rather than running a good ship will cost shareholders as well in the end, so I'm out as well - sasa.

Bot sales are, however, providing attractive buying opportunities for late comers / 'value' seekers, if nothing else, I suppose - 'every cloud has' ... etc., - sasa.

You might yet be right here, NewKOTB but I still have my reservations about their suitability for us. Apart from minimal staff Nos there, they 'hope to be producing 30k - 40k boepd in the medium term' unlike us having almost that now and is their management team as 'seasoned' as ours / have they the operatorship capability as Serica has? Don't see it, myself...

In the FT article just posted, the Rockrose Energy outfit looked more likely a possible Serica target to me (no merger as they're presently one third our size); they're currently suspended pending issuing their documentation for acquiring Marathon's UKNS assets, a la the BKR deal, so there may be some interest here for us?

Assuming their deal goes through, the shs are likely to double, or a bit more, on being re-quoted but still smaller than Serica right now, so food for thought, anyway... sasa.

Suggest you 'Google' Market Makers on the LSE, Stableboy, to glean more information. Without them, we wouldn't have much of a mkt in junior stocks at all, just a list of willing buyers / sellers prepared to deal at a pre-arranged price, if approached, like they have in the US, where they're known, or were, as 'pink sheets' stocks.

Whether any 'price suppression' tactics here on AIM exist, at any one time, is difficult to prove but where there's an opportunity to do so, there must be a risk of abuse occurring on occasions. Notwithstanding that aspect, I believe that the value of a listed stock almost invariably outs in the end and we have that in spades here, imv. Dunno wether that helps. - sasa.

Hi Soberman - you say that 'it's alright for those in around 30p' - with respect, you're using hindsight here. When the sp was around that level a couple of years ago, we only had Erskine running for us, (3k boepd) and a decent cash balance in the bank.

Now we have 10 x the production running, several x more cash in the bank and a real chance of another significant deal in prospect, as you say - ergo, the value on offer currently is far greater than the 'spec' of yesteryear. As Warren Buffet opines, 'the price is what you pay - the value is what you get' - that's especially relevant now, imv.

Unless you're just a trader, the investment case today is far more compelling than it's ever been, so if you can take the medium term view, your 135p investment recently should prove very worthwhile; patience now is all that's required - sasa.

You're right, Soberman - the figs. were good; better than expected, actually, so give your involvement here more than 'five minutes' in it, I'd suggest.
We're currently selling on a p/e of under 5 and likely pros. multiple of only 3 x eps by the end of this year, so to say that this is already cheap is self evident.

Suggest, therefore, that you look beyond the very short term to see your earlier decision to be fully justified - sasa.

The shs are XD the 2.4p divd today - payable on the 7th June - sasa.

Hi NewKOTB - wilco - hadn't thought of that. I generally like to ponder counter arguments but there's no recip. here - sasa.

Given your myopic preoccupation with the gas price, Nickel_Investor / persistent negativity about Serica's outlook, I can't imagine that you bother to hold this stock; why would you? Ergo, why post on here at all, if it's all academic to you? - sasa.

Why would Serica wish to merge with a group like Tailwind? Don't know anything about them, tbh, other than they have young / enthusiastic management you say, NewKOTB. That aspect could well lead to a clash of leadership which almost invariably results in a 'divided house' which never proves beneficial...

They seem to be half our production capacity at present (have debts, dunno?) and with a stonking year ahead of us, why cramp our progress? Don't forget that, assuming Erskine stays up all year, we'll have an extra $60m odd coming in from it that we didn't have last year, quite apart from much higher revenues from our 50% share of BKR that we're now enjoying.

No, a 'merger' of supposed equals is nowhere near as appealing as another major acquisition for us, ideally as operators, which the BoD are on the lookout for, we're told. That's the way to invest our rapidly growing cash pile and then probably move onto the main mkt later on to garner a proper re - rating - sasa.

They don't get anything from Rhum either, as the cash generated from their half is held in escrow - sasa.

After such a good rise yesterday, it's hardly surprising that the traders spot an opportunity here to capitalise on the move...

They know the price of everything on a daily basis but the value of nothing on investment grounds; that's just their raison detre - just penny pinchers when they're lucky. However, value is the touchstone of a sound investment opportunity and we have it here in spades.

Just have to wait for a day or two for the sp to regain momentum which it will, given the overt value on offer - sasa.