Member Info for shakeypremis

New KOTB, it could mean that most of these options vest regardless of any targets being met.

It says this;

"For the awards to vest in full, the highest average share price must be at least equal to 500p during the 180 day period terminating on the end of the performance period together with a significant decrease in carbon emissions per barrel of oil equivalent produced."

"For the awards to VEST IN FULL", So how many free options do they get if they share price is not over 500p? Screw the emissions per barrel, I am sure whatever that stupid target is they will achieve it. No meaningful details on the terms of these options. Time to email Mitch. I want to know EXACTLY the terms of these options.

I don't know what any of you guys are still doing here. This company is good for nothing.

Didn't even acknowledge the question when I emailed him. Replied about a discrepancy I noticed between RNS and a presentation regarding hedging but just blanked the other questions I had.

Weren't they due to expire?

Most companies would stop investing in the UK yes, not Serica though. As long as Mitch gets a salary he will invest in anything in the North Sea.

I'm not sure if this is good or bad that the review got voted down. Would a fair and unbiased review (not that we could at all count on it being fair and unbiased) not show that removing the allowance would be absolutely catastrophic for UK oil and gas production and therefore energy security and energy costs?

Mitch truly is the worst of all of them.

It's another question for Mitch at the Investor Meet Company event, "Why do YOU NEVER buy stock?"

Also small D energy again 'hoping' the UK government will do the right thing. LOL. Wtf? That is not a strategy. Should be saying serica will NOT invest in the NS under the current regime and will be looking overseas until further notice.

Egregious hedging price may well have been required by lender but if SHAREHOLDERS HAD BEEN TOLD TW would have to hedge a large portion of production at such a low price BEFORE THE VOTE maybe less shareholders would have voted it through. God I hate Mitch so very much.

Rationale for deal was that it meant serica was less exposed to low gas prices. Gas prices haven't crashed and have remained in line with oil prices until more recently. Now with something like 50% of TW production hedged AT A LOW OIL PRICE, much below the current boe gas price. Where's the insulation? This hedging is going to cost serica something like $120m in lost revenue over the course of a year.

Trouble is, there is no longer a stockpile of NET cash. NET cash is down significantly due to the huge debt they took on. Also, NET cash PER SHARE is also lower due to aforementioned debt and the massive dilution.

Although with the upward revision in Serica's reserves, could it also be said that Serica undervalued their own equity EVEN FURTHER by diluting as much as they did. Swings and roundabouts and the share price is STILL in the dumps. That's what really matters.

Banbury boy. Increase in Serica reserves was bigger on an absolute basis, but smaller on a percentage basis. Serica increasing by ~20%, TW increasing by ~32%. Might say something about future reserves additions from both portfolios or nothing at all haha. Also improves the price Serica paid for TW assets as on a $/boe basis they are now getting more boe's for the money.

Nothing that causes the board's and Mitch's services to be no longer required (i.e. a takeover) will be entertained. They will not let go of their jobs and salaries. They have no skin in the game and therefore they will fight tooth and nail against anything like that.

Article says that any price floor that does come, will not be in the budget.

This will get worse before they get better (if they ever do). They locked us up for 2 years (for no reason - this was known at the time too which is why I did not go along with it) with essentially all politicians in agreement, and everyone went along with it too. Nothing is going to change any time soon. The only thing you can do is try to profit from it and leave the country. Very few places to go though as almost all countries are captured in the same way this country is.

Sad to see here it's gone from bad to worse since I sold out. What a disaster this has been. No one is ever getting their money back.

Because they're trying to cause a supply crunch!

So with this additional 10kbopd from Gannet (yes initial production rate will fall off - always does), did TailWind's production just go up 50%? The TW assets were doing ~20kbopd as of the Feb 7th Operations update. So 20kbopd plus 10kbopd (form Gannet) equals....?