Member Info for thehickster

Could be that they're used to it in Canada. Probably walking around in t shirts.

Yep just had mine in my H L account.

Does anyone know how the vote works in situations like this ? Do they have to get 50% of the total shares in issue to pass it or do shareholders against it have to get 50% to say no or it goes through ? What's the default ?
And is it 50% of votes cast or 50% of the total shares?

You should get a divi payment any day now. Payment date is 28th December I think.

How on earth could anyone make their money back on 40mil barrels of oil at 75% tax if it's costing £644 mil.
Might be possible with gas at current prices but I just can't see it with oil. This has to be bordering on criminally negligent.
I know HUR shareholders went to court to stop an attempted robbery, could a similar thing work here?

Logging in rubbing my hands together to finally see a blue day for i3e. Should be a nice rise considering how already undervalued we are.....
Oh.....

That you could make another offer for Serica and put us out of our misery before we get sold down the river ?
Had a feeling that the Serica board couldn't be trusted with that much shareholders cash.

Are you sure Tailwind are doing 4.5 mil a day gross ? Sounds a bit high to me.
Serica were already doing in excess of that with their gas production and that would have carried on without paying hundreds of millions for another company.
Really can't understand why they would want mostly hedged oil production in a 75% tax environment. How on earth would you get your money back on that even if it was extremely cheap.

if the Kistos offer undervalued Serica so much at 4.25, then why has Mitch just given away 111 million shares at 2.78 ?
How can he defend this ?

If another company or Kistos put in a bid for Serica, what would shareholders have to do to be allowed to have a vote on it ?
Or can the board just dismiss it no matter what? If it was a good offer then would we have to go through the courts to have any redress?

Did shareholders ever get to vote on it ? I don't remember being asked.

Serica should have just offered to take on Tailwind's debt and had the rest of the company for free. Even then I'm not so sure it would have been a good deal. Other than someone completely insane, I can't get my head around anyone putting more money into the North Sea.

when I log in and see that i3e is actually up. Not even asking for much, just 0.25 pence of whatever. Seems that when oil and gas prices move up they have no effect on the share price. Does beg the question though, what will have an effect?

Doesn't DEC always fall a bit once it's gone ex divi and then slowly rise as we approach the next divi date?
This has to be one of the safest divi plays on the market surely ?

According to the chart we've lost 10p in a week. Very strange. Wonder if DEC is being hammered as if it's an oil stock rather than a mostly hedged gas play? Bet when oil goes back up it'll then be valued as a gas producer though.

And importing LNG is about ten times as carbon intensive as producing it on your doorstep, which shows how they don't really care about the environment either. Not to mention that most of the LNG would have come from fracked sources which they don't allow here.

Exactly. It would have been sensible and fairer, hence they didn't do it. I think you give too much credit to the current government. Their intent is to hand over a trashed economy to the next government with falling tax revenues. A bit like what Labour usually do to them. Labour will then seem like the bad guys as they make tough decisions to try and balance the books again. What sane individual would put taxes up to punitive rates on producers of something we are so short of? Only someone whose intent is to make the situation a lot worse would do that.

Be very surprised if Mr Hunt changes his mind. The guy is a 5th columnist hell bent on handing over a destroyed economy to Labour in 2024.

You may be able to offset some of the tax now by investing, but when those investments come to fruition they are still going to be taxed at 75% or even more depending on the flavour of government then. If commodity prices fall then there could be no profit to be had in the future. I don't see how the North Sea is investable at the moment.
Having Jeremy Hunt as chancellor is like having a 5th columnist in charge of the nation's finances.

What is happening to the huge difference between NOI and capex and dividend payments ? Are they just building up a massive war chest for acquisitions?