Member Info for Southmead

Well, Imperial, if Apta were not aware of the Gilead fibrotic opportunity, you have certainly done us all a big favour by bringing it to their attention, well done.

Gilead Sciences is a huge player of course, with a market cap of $148 Billion. Perfectly capable of filling that hole in their Fibrotic disease pipeline through acquisition or collaboration. How important, do you consider it is that Gilead fill that hole? Do you have a view on the strategic importance of Fibrotic disease treatments to Gilead?

The spread on this share today is over 10%. I am not trading it, so for me it is irrelevant, but is does irritate that such a wide margin makes it difficult for new investors to take the plunge. They immediately lose 10% of their investment and that is a big problem. Our market makers should be encouraged to be happy with a smaller margin and encourage a bit more volume

Hope is not fading, EXPECTATION is rising.

There is plenty of time for approvals to line up before Transmarine 510 arrives to drill Njom-3.

Genuine shareholders can Just relax for the next few weeks and rejoice if news arrives earlier.

Summary points were:-

1 Enhanced financial position and robust revenue growth

2 ILA's achieved with 3 partners

3 Increasing number of repeat contracts

4 Technical progress across Optimer assets with various partners for licensing

5 £1.8m fundraise will fund various commercial initiatives especially in-house production to facilitate tight control over IP

If that was a performance without Triton then we should be frightened to see what this company can do when ‘new’ Triton comes onstream fully. 1H production of 24.7kboepd was just over half of last years 43.7 and included a slower than expected ramp up which don’t forget included add-ons by way of upgrades and repairs which will increase and extend production.

This performance has led to an actual increase in cash at the year end where the results registered $174m ($148m) which shows a very decent increase in the period and again despite nothing from Triton since January. It was however boosted by the receipt of the $71m cash tax refund in June 2025 which shows adept management in the Treasury function too.

This cash generation is expected to be ‘material’ in the second half, which will be a fantastic second interim as forecast in a sparkling investor presentation this morning and which firmly put the disappointments behind them. Mark my words the company are quite rightly full of exciting, confident of better times ahead and a step-change in performance.

One of the things that is increasing production is from the Bruce Hub where well optimisation work and resumption of production at Keith is delivering solid results and an increase in production post-period end which averaged 21,600 boepd in July compared to 16,700 boepd in H1 2025.

So, in conclusion it would be fair to say that this has been, despite its operational problems, a first rate half and will lead to an excellent full year. The Triton drilling programme was delivered 25 days ahead of schedule and c.$31m net to Serica under budget. The company suggest that the results from the new wells promise to take Serica production above 50,000 boepd once Triton is ramped up and with the Belinda tie-in now expected at the start of next year, another beat in the statement.

The EnQuest deal didn’t go ahead for whatever reasons, I’m not upset about that but the company are looking at other options across the sector but when the base camp is so powerful and the portfolio offering huge potential growth then inorganic growth can be very selective as organic growth here is very strong.

The shares are up 6%, 23% and 38% over 1,6 and 12 months so it can be seen that the market likes what is going on at Serica as do I. The board has decided to move the quote to the main market, which carries with it the potential for inclusion in the FTSE 250, which would clearly bring with it passive funds and massive further exposure. The company remains a favourite in The Bucket List and will continue with so much good news in the pipeline.

Yes, I agree with you, the inspection is more involved and will take longer than I at first thought.

Copilot AI tells me, 'Admarine 510 is heading to Zuluf field in the Persian Gulf, most likely as part of its staging preparations before sailing to Cameroon for the Njom-3 well. The 5-year service inspection for Admarine 510 is expected to take approximately 2 to 3 weeks.'

That means Admarine 510 won't be ready to set sail for Camaroon until say Friday 5th September at the earliest, arriving say by Friday 10th October, given a fair uninterrupted voyage. Drilling of NJOM-3 should take 3-4 weeks and then on to Addax late November.

Hopefully, as you say, the two businesses have agreed this timetable and are comfortable with it, but it is tight and at the moment, do-able.

Admarine 510 remains anchored in the Persian Gulf, holding position at approximately 26.18605° N, 50.67073° E. It's still en route to Zuluf, with an expected arrival on August 19. Thereafter the distance to Camaroon is 6,000 nautical miles (via Suez Canal and around West Africa) With an average speed of 8 knots, the rig should take 31-35 days, arriving in Camaroon before the end of September.

Drilling is expected to take 3/4 weeks.

No worries there then?

It is all about the yield for me. Delighted to hear that, 'The total 2025 dividends to be paid in 2025 is £0.16 per share'

That is a 12% dividend yield for me, so I don't trade Serica, whats the point?

Thanks Nibor, that is a nice article and well worth the read. Nothing that we shareholders didn't know already but it is nice to see it in the popular press.

Hopefully it will inspire some interest and activity over the next few days before the Thursday update perhaps. Lets hope so.

What does Midas say about Aptamer Group?

Lets hope that it includes Towers approval.

Could you post the article please

What an interesting positive discussion about the arrival of the Admarine Rig. All topped off with a comment from Jeremy about the seabed readiness.

This is just the information and reassurance that investors need whilst waiting for the approvals. Patience and faith/trust play their part but its information that really provides confidence. So well done all who contributed to that discussion. Thank you.

Of course the NJOM-3 well is an exciting drilling opportunity to appraise an already discovered resource. There is plenty of information about NJOM-3 on Tower's website. Have a read, it will pass the time and reassure you while we wait.

As Warren Buffet once said, and I paraphrase, 'Money transfers from the impatient to the patient'.

I am trying to be patient but another week goes by without news and my patience is running thin.

Tower resources is set for a great week ahead.

I hope that it starts off Monday with an RNS announcing the Camaroon approval and goes on and up from there.

Yes I agree, David gave good account of the arguments for North Sea gas.

North Sea boost

Two of the North Sea’s most controversial drilling projects are set to go ahead as Ed Miliband rewrites the rules on carbon emissions.

The Energy Secretary is preparing to change the law on Britain’s greenhouse gas emissions, which were relied on by a court last autumn to block Equinor’s Rosebank oil field, off Shetland, and Shell’s Jackdaw gas field, off Aberdeen.

Such a move would pave the way for the construction of the giant oil fields, and possibly open the door for more stalled fossil fuel projects in British waters to be restarted.

The SP will continue its rapid rise tomorrow with no further news IMHO. If good news tomorrow, then it will explode. There is enormous interest in this share and people have been wanting to commit. The recent upwards movement will force them into taking a position all IMHO

Lets hope that the TRNL-Prime farm-out agreement is approved over the Easter break and Tower gets off to a very positive start next Tuesday. It was hoped to be approved before the end of March, so another 3 weeks should do it maybe.

Please tell me, what is the relevance of these 'Off Book' transactions?

What are they and where are they shown.

What is the relevance of them?

I believe that things will start to move quickly from now for Sound.

Graham has started his share purchases and there will be, I am sure, a regular flow of news on Tendrara phase 1 over the next few weeks as the installation is completed and equipment commissioned.

The real good news though will come from the drilling of planned exploration wells on SBK-1 (91bcf gross) and M5 (560bcf), these have enormous potential for Sound and Managem will be in a hurry to get these approved and off the ground soon. I expect positive news about the government approvals very soon.