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Sasa that must be an error. As oil goes higher we're supposed to go up too. Maybe we should wish for oil to go back to $74 so we can get to 2.50 again ?
Oil was about $74 and SQZ was at 2.50.
Anyone know what oil is at the mo ? $65 ? $70 ?
With the state of the share price you would think oil was back in the $70's.
Was today's interest rate hold really such bad news? I thought the market had priced in a rise or are lower than expected rates bad for the market now, I'm struggling to keep up.
Could it just be that whatever happens, the market will be down and it's just a case of waiting until 2024/25 before things become more rational again?
Jezzoo my inkling is a placing for an acquisition at a ridiculous low level share price. The higher oil goes the lower we go so something is definitely amiss!
If only a few months ago someone told you that oil would be at $90 and i3 would be at under 13p you'd call the men in white coats to come and get them.
Gotta laugh really. All my oil and gas shares are either down or stagnant. You know if the top falling sector was fossil fuels they'd all be down as well. Anyone know what has to happen for oil and gas shares to go up? It certainly isn't rising commodity prices or excellent results.
They look pretty good from where I'm standing. Am I missing something?
Makes you wonder how on earth any North Sea assets are actually worth money these days, what with a tax regime that would make a banana republic blush. Up to $1billion ? You'd have to make $4billion profit before tax just to have a chance at getting your money back. The boepd on those assets must be absolutely insane for them to be worth that sort of money.
Is supposedly fossil fuels. Rubs hands together in anticipation while checking all my fossil fuel shares like Serica. Oh...... why are they all down? If fossil fuels was the top falling sector then all my fossil fuel shares would still be down. Wondering what has to happen and what stars have to align for an up day?
Why would anyone be interested in North Sea licenses?
Fool me once and all that. The government needs to be taught a lesson for its utter stupidity.
Brent was at about $70 the way our share price is behaving. Thought we were more about oil now as well as gas?
Dick, wouldn't Mercuria need 75% of shareholders to take Serica private? If they offer anything under the bargain price of $19 a barrel then I don't think they'd get approval. No way could they argue anything less than that after we got such a so called bargain when we paid that for their assets....
Surprised that cannot be right. Ed Milliband recently said the renewables are "9 times cheaper" than fossil fuels.
He'd better get on the phone to Vattenfall and let them know.
If they're going to add to their NS portfolio let's hope they don't pay more than about $2 a barrel. Even that seems a bit expensive in the current tax climate.
Surprised, looking at the figures on that Twitter post there, I am surprised that the post tax figure is so low, considering most of Serica's income in 2023 is from oil surely? Which I thought we were only paying the EPL of 35% on?
Trek, also don't forget the market doesn't like it when the price of gas goes down as that's what we sell but also when gas goes up as we are hedged and don't get the benefit from it.
Does anyone know if Serica are paying only 35% EPL and no other tax on the Tailwind assets at the mo? Part of the so called amazing deal was justified because of tax losses in the billions if I remember rightly.
The problem is any rise in oil doesn't lead to any increase in share price so oil can go up all it wants. As soon as there's any drop it reacts to that. Difficult to see how the share price is going to increase at all in the short term.
I suppose eventually the increased oil price will make its way to the bottom line, not that the market gives any value to profit in the oil and gas sector.
Has to turn eventually though doesn't it?
Our 2022 capital program helped to increase Proved plus Probable reserves ("2P") by 18% to 182 Million Barrels of Oil Equivalent ("mmboe")
Current market cap approx $187.
Seems rather cheap if you ask me.
If oil going up makes the price of i3e go down then surely the opposite must apply.
Seems odd to be wishing the price of oil to drop but maybe that will get the price up again?
This would certainly be better use of our money than another dreadful deal like the TW one.
Really hope they don't get any silly ideas and go trying to buy some more ridiculously overpriced assets in the North Sea again.