Serica Energy Share Discussion Threads

[stemis] 19/4/2024 15:37

Straw man. I didn't say anything about whether there would be write downs, either way. What I was pointing out was that, any decent FD worth his salt would ensure he understood the numbers before signing off on the accounts. Since he was only appointed CFO on 5 February, a slight delay to 24 April is hardly surprising, whatever they show.

Also, it's not just up to the CFO to 'kitchen sink' the results

[oilinvestoral] 19/4/2024 14:36

No but I've held senior management positions in oil companies and have provided technical input into acquisitions.As a CFO are you not even contemplating write downs? Seems bizarre & naive at the same time! Also if I was a new CFO of a listed company I will absolutely kitchen sink my first results for a period before I arrived. Not to do so would be lunacy.Also if the engineer gets it more right than the accountants this will be embarrassing! Being on next week !

[nigelpm] 19/4/2024 14:31

Both Stemis and I have held senior Finance positions in businesses. I may well be retired now but our knowledge in this area is hopefully useful to folk who want to listen to it.

[stemis] 19/4/2024 14:02

I'm guessing you've never been the FD of a plc then...

[oilinvestoral] 19/4/2024 13:44

Oh dear lord! You now reckon they were waiting for the accountant to turn up in February to progress the results? Why I are we avoiding looking at the pink elephant in the room and trying to grasp at non-existing straws? Pink elephant being a non- cash write down !! There I've said it!

[nigelpm] 19/4/2024 13:35

A further good point Stemis and a change of CEO - in fact if you consider all the factors I'm almost surprised they've been able to get to the date. Must have been working very hard to manage it.

[stemis] 19/4/2024 13:24

The company also has a new CFO, who took post sometime in early February. I think we can allow him a few extra days to get his feet under the table...

[oilinvestoral] 19/4/2024 13:17

Bigger business have bigger resources and can get results out sooner. This is simple logic! If bigger meant later results, Shell's results would be out in November not Q1! The smaller companies in the space issue results in May or even early June. The biggest issue them in February & March! So one could argue that they should've aimed for April the first as that would've been befitting for the pugnacious fool!

[oilinvestoral] 19/4/2024 13:13

Is the empty pugnacious vessel pugnating about me? I can't see his posts so the fact he's spending his retirement writing guff that I can't read makes it more delicious

[oilinvestoral] 19/4/2024 13:11

Still the latest ever in 10 year # Fact

[nigelpm] 19/4/2024 12:39

Thanks Stemis ;-)

[stemis] 19/4/2024 12:36

2021 results were released on 21st April. So this year just 3 days later than that.

[nigelpm] 19/4/2024 12:15

In fact 11 days (or 7/9 working days depending on how you look at is) is fast in comparison given the doubling in size of the business and additional preparation and audit work required.

[nigelpm] 19/4/2024 12:09

You're being somewhat charitable there bounty - it's completely stupid.

[bountyhunter] 19/4/2024 11:47

If we are being pedantic last year results were on the 13 April so I would say that highlighting an 11 day difference this year as some kind of issue is splitting hairs.

[oilinvestoral] 19/4/2024 10:02

CCPwhy the frigg are you running you questions by Nigel? If you want to ask about Mitch's sacking you can do that! If you want to ask about taxes you can do that! As long as you are respectful and courteous in the way you ask I see no problem with asking whatever you want as a shareholder! Nigel is one of those people who likes to comment on other people's posts but never adds any value himself! His go to response is to say others are wrong while providing nada evidence to the contrary! Save your self the hassle and stop asking Nigel for permission like he is some sort of administrator!

[nigelpm] 19/4/2024 09:49

Good points coffee and a good question.

[oilinvestoral] 19/4/2024 09:46

Bounty I think if we were being pedantic we can say they are not delayed as per listing rules! They are simply later than any other Serica results issued in the past 10 years. Probably for good reasons but we will soon find out.So yes they are technically delayed relative to previously issued results

[coffeecanportfolio] 19/4/2024 09:43

"Mitch referenced tax lobbying in a previous IMC."///Yes Nigel but that was many months ago and arguably things are worse now that we know how much tax we are actually paying. May be wishful thinking but I'm hoping they are applying more pressure. Also it's not Mitch this time!

[nigelpm] 19/4/2024 08:33

Agreed Bounty - perhaps more concerning it got a thumbs up.

[bountyhunter] 19/4/2024 08:05

Yes Mick I agree with you but most of what they have to say should already be in the public domain. It's also encouraging that directors have bought shares since the start of 2024 with no sales so I'm not expecting them to shoot themselves in the foot. :-)
Nigel, yes that post was wrong and consequently misleading so no harm in both of us having now correcting it.

[mickinvest] 19/4/2024 08:02

Duplicate.

[nigelpm] 19/4/2024 08:02

I was replying to that incorrect post. Not misleading but simply wrong.

[mickinvest] 19/4/2024 08:02

Dividend and maybe Tailwind tax losses BH?

[bountyhunter] 19/4/2024 07:56

As I said following that rather misleading post.