Member Info for Serif

Hard to guage current level of interest in this share as can’t get a quote to buy on-line anything over 1000 shares as soon as any slack is bought up. Still some increase in sell price now 0.98 for as many as you want to let go.

Yes it’s the forward plan that’s missing. They don’t have to spend, just show us how they have been using their time during the lockdown (they have still been employed/paid just at a slightly reduced level), so what have they moved on (the Wressle work is being done by edr)? Even if they are going to wait for Wressle revenue the planning for what comes next needs to happen now or we will be waiting months after this. Simon may be a shrewd and canny operator - and I hope he is for eog and my investment - but I have no evidence of this yet or real idea of where he is steering the company - only a slightly disconcerting lateness in issuing rns’s on Wressle out of step with our partners. Don’t believe it would take much to build more confidence around this - financially Wressle a big revenue plus for us and it is just about to happen.

Yes rightly quick to reduce activity in March at the start of Covid, but now we would like to see that the company was coming out of hibernation with the rest of the world - and it doesn’t have to be the last player to do so. Some sign of activity to move the company on, even if its only employing a new ceo to do the work for them!

Anyone know what is or might be the reason for this sudden rise?

Probably being really slow, but still don’t understand how on line I can sell hundreds of thousands at 0.96 but can’t get a quote to buy on any volume over 1000 shares - yet the SP simply fails to move over days to create a more balanced buy/sell market. Must be missing something or the market isn’t working efficiently for some reason. Wonder if the company has any influence over this.

Nice one, H!

Thanks, Beacon, didn’t know about this app.

Don’t know what drives this, but presumably those doing it don’t pay any dealing costs -on the grounds that that would often cost more than the trade. So that might narrow the field on who it could be?

Well we may get a Government in Ireland sometime next week, as nothing has been moving without one. Then we will have to see what approach they take - in terms of actually signing things off. Then we may see some movement from those that were said to be still interested. If anything is going to happen in the area eog looks to have the right connections and so hopefully in hindsight we will say that it was obvious that a deal would be done!

A very encouraging rns and exactly the kind of follow up to the Press reports wanted. Sarawak connections was what made this company interesting initially (Tunisia came along later). The breaking of the political logjam has simply opened things up for us and we can hopefully pick up on all the work that has been blocked for 2 or so years. A real chance for CP and UPL to show what it can deliver through its very strong local connections - fascinating to see what sort of potential projects emerge and on what kind of scale.

Very helpful link, Tac. So it looks like some kind of liquidity issue - but for some reason this is hitting those wanting to buy more than sell, as I can sell as many as I want on-line at 0.93 but not buy anything without being pushed towards higher priced telephone dealing. So I am left wondering why you would want to make it easier to sell than buy as I would have thought liquidity should affect both types of trades.

No idea, Seedcorn, but presumably it dampens down turnover - though not sure why that would be in anyone’s interests. Also frustratingly still unable to get a quote to buy more than 5000 shares at a time, despite the price rise.

I see someone got 500k of these this morning - I still can’t get a quote on line to buy even 10k of shares.

If this is all they are going to do I don’t disagree with you - why have all the PLC trappings for a very small local production outfit. On the other hand if they find it somewhere to be more dynamic and active - and at present it looks like that will have to come from appointing a CEO - then the revenue is surely not a bad base to underpin future projects?
I would just like them to give us a better sense of the way forward - their newly designated senior non exec who is also on the Board of Nephin what is he doing for us - why the new non-exec from Reabold - what’s the plan as we move out of the global lockdown phase?

Good to see oil price continuing to strengthen and it is now about double the estimated break even cost for Wressle production.

I thought that was the current strategy OTF. Close down most costs until Wressle comes on line and provides better funding position - and in meantime get the paperwork in place for Inishkea survey for future farmin hopes (on grounds that getting a survey agreed could be seen as politically positive and confidence building for potential partners).
As you say though this doesn’t offer an obvious breakthrough In the foreseeable future with everything else postponed until Wressle - except for the hope of a farmin. Maybe it’s a reasonable approach in current difficult circumstances - stability first - but it needs the shareholders to be confident that it’s just a holding pattern and that the BOD are straining at the leash to sign up that partner for Ireland, get a new CEO in place, snap up that short term prospects from Wressle revenue and quickly excite people with Morocco prospects. Not yet feeling that tug on the leash - would like to see something (even just some form of communication) that seemed a bit more hungry.

Can only imagine he has been locked in intense negotiations with potential Inishkea partners all day or maybe is working from home with very slow broadband speeds?

It’s a $1m deposit on Morocco drill not £s. As Arato have £840k left (currently about $1.033m) we don’t yet know if there is any agreement in place that they will not convert significantly below the $1m level.

When it’s this late better not to say anything at all by rns and save the money. At least they could then pretend it’s an intentional money saving move - rather than just looking dozy!

Good to see that they have also completed Stage 2 drilling the boreholes - thought they were still ploughing through the paperwork on the conditions. With a 3 month monitoring period looks like they can get moving with final works on the site in August.