Member Info for thehickster

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.

It seems that i3e is being judged as if its income comes from the North Sea and is subject to the 75% windfall tax.

For an acquisition to make sense it has to be cheaper per barrel etc than i3e.

40mil tops for 5000bopd ?

If they are looking to raise for an acquisition, where on earth are they going to find a company cheaper then themselves?

As long as the dividend stays, at least it's nearly 13% now.

Mine is showing DEC as blue today. Anyone know what's wrong?

Look on the bright side, if it stay this low it'll be good for picking up cheap shares when the dividend gets paid.

i assumed Henry Hub gas had crashed today, but it's up slightly. What is driving the sell off here, it sure isn't related to the price of gas.

Yep. No way am I topping up more yet. When the price of oil goes up there doesn't seem to be any effect on the share price.

However, falling oil will always pull it down so it's hard to see where gains can be made at the moment. Other than getting a cracking monthly dividend. Sellers are obviously getting a higher dividend paid more frequently somewhere else but I can't find where.

One of my other shares, DEC, is yielding around 16% at the mo and even that doesn't seem enough.

I swear every time I check on the price in the morning and it's up a little, when I have a look in the afternoon any gains are reversed and it's down. I really would like to know where people are getting a better yield. Any ideas?