Serica Energy Share Discussion Threads

[bountyhunter] 19/4/2024 07:56

As I said following that rather misleading post.

[nigelpm] 19/4/2024 07:54

They didn't delay the results.

[bountyhunter] 19/4/2024 07:54

Surely most of what will be in the results is known already since we had a reserves and production update on 7 March and anything significant in the short space of time since then would need to be RNS'd. The main thing we don't know is the level of the dividend.

[sageofonion] 19/4/2024 07:46

After yesterday's big drop for no apparent reason, I'm expecting bad news. This company has more leaks than the vegetable aisle at Tesco.

[bountyhunter] 18/4/2024 20:48

It's pretty close to the date last year so nothing to get worried about there. What are you on about re a results date change? There was no change, and I'd take it as a plus that there is an accompanying presentation not to mention the director buys since the start of the year with no sales.

[creditcrunchies] 18/4/2024 17:56

you have to wonder why they kept delaying the results date then all of a sudden an RNS comes out with CEO change date / presentation / results date change. Not a good sign because it probably means they're gonna get whacked with tax and behind the scenes they need to find lipstick for the pig to try to stabilise the announcement. So could be a big dip coming.

[nigelpm] 18/4/2024 17:16

Mitch referenced tax lobbying in a previous IMC.

He said something along the lines that SQZ were engaging with both the existing Government and discussions had taken place with Labour.

I'm not sure you'll get much more detail than that but worth asking the educated question.

[coffeecanportfolio] 18/4/2024 11:10

I think the ones that are bugging are the future M&A Plans and while they have been referenced in presentations I'm still needing clarity.Also tax reform / lobbying is still bugging me. If you have found an answer to that feel free to share it ...

[nigelpm] 18/4/2024 10:39

FWIW - I went through RNS and previous presentations and found answers to all questions that were still bugging me to some degree. It's amazing how actually reading RNS generally gives investors what they need.

[pretax2] 17/4/2024 23:52

Coffeecan
Talking about diversifying away from the NS I also hold I3E who pivoted away from the NS a couple of years back. After a ballistic run up, they’ve drifted down with AIM but the fundamentals and divi are great. FYI They just broke out if anyone’s interested. DYPR - (but don’t hang around).

[oilinvestoral] 16/4/2024 22:30

His thoughts are to criticise others from the sidelines who have been proactive enough to ask questions...

[nigelpm] 16/4/2024 20:58

I'll give it some thought and list whatever I decide to submit.

For what it's worth I regularly submit at least a couple of sensible questions at these IMC events.

[coffeecanportfolio] 16/4/2024 18:50

I've asked a few questions.Mainly do with their future M&A Plans and diversification away from the UK.Also asked if they are in dialogue with the government over tax reform.Just to put it bed , I've asked if there was any particular reason for the CEO change. If it's simply a retirement then they should say so. What's your thoughts Nigel ? Have you got any burning questions?

[nigelpm] 16/4/2024 18:36

An investor meet as well.

Let's hope it's not littered with irrelevant and stupid questions.

The last few I've watched on other stocks have been painful at times.

I'd suggest anyone who asks a question thinks about it before posting.

[oilinvestoral] 16/4/2024 18:12

Call me old fashioned but I would rather be receiving money on my mounds of cash deposits rather than paying interest (under the guise of slightly reducing the tax bill).Each to their own though ...

[hunter154] 16/4/2024 16:14

Great point nigelpm. If the marginal tax rate is 70% that means HMRC , in effect, picks up all but 30% of the interest cost.
The company could embark on dividend or buybac with debt.
This is another ridiculous example of how screwed up the UK tax policy is.

[stemis] 16/4/2024 16:07

I hold SQZ as part of my income portfolio so a cut would be unwelcome. At the end of the day though it's all speculation so we'll just have to wait to find out.

[nigelpm] 16/4/2024 15:33

Given interest costs are tax deductible there is plenty of logic in having some level of debt as opposed to running a cash position. Simple capital efficiency.

[oilinvestoral] 16/4/2024 15:11

Hope you're right Stemis!Every 23p dividend more than pays for my 2015 shares TWICE over! So certainly won't complain with a 14p + 9p dividend! However with operational issues noted in nearly every single asset, higher operational costs, extended planned & unplanned shutdowns, the highest ever CAPEX programme in the company's history and with the egregious EPL payments any CFO worth his salt will be forgiven for taking a scissor to the dividend. No prudent CFO will use debt to fund a divi (although financial engineering means it happens on regular basis)...

[hunter154] 16/4/2024 14:54

Results 24/04 confirmed.
I’m sure the delay was due to the additional work auditors had to do re acquisition accounting.

Looking forward to it.

[stemis] 16/4/2024 14:19

I'd like to believe that the dividend will at least be held. The announcement of the Tailwind acquisition implied it would and directors buying suggests likewise. However the change in Chairman, CEO and FD would be an opportunity to re-set dividend policy without accountability for past assurances and that's what stops me having more confidence in what they'll actually do...

[stemis] 16/4/2024 14:10

Results 24th April, just announced

[nigelpm] 16/4/2024 14:09

24th April.

[bountyhunter] 16/4/2024 13:28

There's often an example somewhere to discredit what might be expected generally.

[pretax2] 16/4/2024 13:23

Oil investor
That’s the spirit 😀
Your 1st response, not the 2nd.