Member Info for thehickster

upomega, as the saying goes "A truth can walk naked, but a lie always needs to be dressed."

If the board are so confident, why don't they show us what it is they see that is such good value. Nothing they have put out there gives that impression and they have omitted all the usual metrics that are important. Why could that be ?
Why can't MF just answer why 4.25 so undervalued Serica, yet 2.78 is a great price to give nearly 30% away. I'm assuming it's because it is impossible to justify and so they know what they are doing is wrong.

Got mine in a normal H L sharedealing account and with the W8 form I only pay 15% tax.

Does Stahel show the cost per barrel that Serica are paying and how on earth that can be justified ?

The fact that Mercuria are keen to do the deal shows how bad it is for Serica.
It's like doing a deal with the French, if they're happy with it, you know you're being sh@fted big time.

That's my NO vote sorted through H L.
Really easy to do online.
Fingers crossed this nonsense gets stopped.

Just think what an amazing deal you'd be getting if this goes through and you're the owners of Tailwind or Mercuria.
That is all you really need to know.

I don't understand why Serica doesn't just buy its own shares that value us a $6 a barrel and keep going until the effective price is $18 a barrel. Only then could you justify buying Tailwind.

If they're trying so hard to cover up all the bad stuff about this deal (price per barrel etc) then it shows they know it's bad. Which begs the question.... Why do something so awful for shareholders ? That implies malice rather than incompetence.

For all his replies to your points raised, he still didn't say how on earth Tailwind is worth $20 a barrel.
$5 would be fair. Less the debt makes Tailwind very expensive if you actually give them anything over taking on their debt.

Showing $3.72 at the mo. Dec's hedges must be coming into play soon surely ?

Been a little while since we had one. Does give a good opportunity to get in at a low price though.

Just having a look and the only thing I can find on Mitch's holdings says he has 184445 with Andy Bell owning 534.
Doesn't seem like an awful lot. Is that correct ?

Infor with all the info you have found out, do you think you could forward it to Mitch ? He obviously doesn't know any of it as there is no way on earth that he would push for this deal, if he has even a tiny shred of integrity.
If he does know any of it then that's even worse, as that would imply dishonesty on a massive scale which I can't believe as lots of posters have said he's a man of integrity.

Stevo so basically even if Tailwind was valued at $5 a barrel that would still be expensive.
On your figures and after 75% tax there's less than $5 a barrel profit to be had at current oil prices.
Tailwind isn't even worth the debt it holds. The fact that they have got someone not only to take their debt but then pay them a fortune as well is completely insane.
This is such a bad deal it has to be bordering on criminality surely ?

"Forgets" that DEC is hedged when gas prices fall, remembers that it's hedged when gas prices go up, limiting the upside.
Makes for some very cheap and good yielding shares though.

on the deal would have to turn up for anyone to consider it a reasonable deal ?
I can't think of anything. It just seems so overpriced and dodgy I can't believe there are still people defending it.
Would shareholders have a decent court case if management somehow manage to push it through ?

Wouldn't want to be out of this over the weekend as the saying goes :)

upomega I really can't see who would be voting in favour of this apart from Mitch. On the face of it there should be an overwhelming NO vote, but I'm wondering how they will play it to try and get the vote through in some sort of underhand way. If the issue of extra shares gets through I'm also wondering if there will be another vote on the actual deal ?

I think people are being far too generous even on this appalling deal.
Considering how little Serica's gas is worth per barrel then $5 a barrel is being very generous in a hostile tax environment when it comes to valuing Tailwind. 40 million barrels x $5 = $200 million. Less $332 million debt = minus $132 million. Tailwind should be paying Serica or they should walk away.
Has anyone ever known a worse attempted stitch up recently ? Can't be many, if any.