Serica Energy Share Discussion Threads

[oilinvestoral] 24/4/2024 18:23

BH The pugnacious one has had issues with me for a long time from the Pharos board ! Long before this board! I have literally blocked him on Twitter and filtered him on here! Not sure what else to do. He still keeps on chirping away at every post I make looking for a reaction. I have tried my best not to engage but will fight my corner if i have to !

[oilinvestoral] 24/4/2024 18:21

"So just making stuff up"----Nope ! Not making anything up! Labour have posted their intentions and have flip flopped 1000 times! I say this as left leaning/ left of center person! Take out the TW / private equity debt and do the numbers! KIST is net cash now! Not that difficult!

[stemis] 24/4/2024 17:57

If it’s reported in the papers then it must be true! Labour have never changed their mind on a policy 16 times ever !

and

That’s not what I meant! The combined net cash balance today would’ve been significantly more than half a billion!

So just making stuff up. Glad we got that sorted...

[oilinvestoral] 24/4/2024 17:14

My "those who can't count" post wasn't directed at you Waterloo ! You simply typed yours as I was typing mines. Just wanted to make that clear ! If you don't like my posts , there's a filter button. It's free ! Feel free to use it...

[waterloo01] 24/4/2024 17:10

What an unpleasant person you appear to be oilinvestorAl.

[oilinvestoral] 24/4/2024 17:05

That's not what I meant! The combined net cash balance today would've been significantly more than half a billion! SQZ cash would've grown as has the cash position of KIST (despite the gas assets the some people don't understand are still cash flow positive even at this low gas price)! It's really not that difficult to comprehend! Or have you also been infected ?

[oilinvestoral] 24/4/2024 16:59

If it's reported in the papers then it must be true! Labour have never changed their mind on a policy 16 times ever !

[stemis] 24/4/2024 16:35

For those who can’t count

The combined entity would’ve had NET cash larger than the market cap of both KIST & SQZ

Not sure how you work that out. The interims of KIST show that 25 days prior to the last indicative offer of Kistos for SQZ, it had net cash of E29m. Serica had net cash of £419m. The 'offer' was, for every SQZ share, 0.4 KIST shares plus 213p per share. That would have cost £464m in cash, leaving a proforma net debt balance of £20m.

[stemis] 24/4/2024 16:08

SteMiS - Labour have subsquently confirmed that they would not backdate the tax changes they are planning

———;——

oilinvestorAl - Nothing has been “confirmedR21; yet

------

I literally posted a link to an FT article confirming it.

oilinvestorAl - Even if they don’t backdate, they can still set an effective date of 2024 which is well within their legal capacity. Even that will make full utilisation of previous losses difficult!

I think you are confusing the 'windfall tax', which losses are not offsettable against anyway, and ring fence corporation tax and Supplementary Charge, which I'm not aware Labour have even suggested they are going to change the offset of losses against.

[oilinvestoral] 24/4/2024 16:00

For those who can't countThe combined entity would've had NET cash larger than the market cap of both KIST & SQZ ! The share price would've fallen from the highs due to the gas price but would've been closer to 300p if you just take cash into account and assume the gas assets are. WORTHLESS!

[waterloo01] 24/4/2024 15:58

KISTOS deal would have been a terrible deal, not only focus only on gas but they had large debts compared to our cash pile. Not saying Tailwind was great, but Kistos would have been a disaster

[oilinvestoral] 24/4/2024 15:57

No absolutely not (not yet anyway) but neither would've the current share price come to fruition based on NET cash at hand ... The biggest loss is not having AA as leader as he would've relished the opportunity of leading the combined entity with great aplomb! Who knows who we are going to get as CEO now.This is another job the Fleggy leaves under less than ideal circumstances. At least he isn't leaving us in the condition he left his last employer under (insolvent & with administrators)

[nigelpm] 24/4/2024 15:56

We all want a higher share price - I'm pretty sure a Kistos deal would have put shareholders in a worse position than they are now given the gas reliance.

[farmscan] 24/4/2024 15:27

Would either of those targets have come to fruition with the gas price as it is? At the time SQZ was 450, Kistos was about 660 and they didn't buy Tailwind.

[oilinvestoral] 24/4/2024 15:19

Because we wanted the combined entity to get to £10 or SQZ to get to 600p on its own. Is that ok with you ?

[undervaluedassets] 24/4/2024 15:13

Price action today was pretty nuts. But that is just one day. and in this market one days price action means nothing.

I was well satisfied with what I heard I thought they came across very well.

They want to be a much bigger company than they are. The proof of that is that they have already grown a lot.

I like the ambition that this company has.

[farmscan] 24/4/2024 15:11

I still can't understand why shareholders who were angry and disappointed by the company's rejection of Kistos' 425p offer, didn't sell up about a month later when the SQZ share price went to 450, it makes no sense to still be moaning about.

[oilinvestoral] 24/4/2024 15:10

UVAKist is now net my cash friend (unlike SQZ)! They retired a lot of their Dutch bonds and have received a tax rebate from Norway! Yes, Kist is mainly gas! I have been a shareholder there since the IPO (got in around £1) after making more than 8 x my money in RRE with Andrew Austen! I'll give you one guess who spent his time bad mouthing AA & Rockrose as it 42 bagged for early shareholders! Yes the pugnacious one ! LMAO

[nigelpm] 24/4/2024 15:06

I'm very happy with management, results and outlook.

Still concerned how Labour might legislate but willing to take that risk on.

[undervaluedassets] 24/4/2024 15:02

Did they not say that Kistos had lots of debt on the call just now and was only focused on gas? producing both oil and gas gave Serica a better balance of exposure to hydrocarbon prices.

Kistos is a much smaller company is it not? The guys on the call look to be looking for bigger deals

[nigelpm] 24/4/2024 14:58

Sounds like you should sell up and buy Kistos.

[oilinvestoral] 24/4/2024 14:57

If they make another large UK acquisition (under the current tax regime with Labour gov still to come), I'll drop SQZ (after nearly a decade of being a shareholder) faster than the accountants can say "Mitch is a competent CEO" or "Tailwind was an excellent acquisition"! That would literally be the straw that broke the camel's back and would stink of poor judgement / business acumen! The way to go was the merger with KIST and AA to lead the combined entity! Mitch's big ego got in the way unfortunately!

[nigelpm] 24/4/2024 14:48

Mitch leaving "it's time to freshen up the team" - makes sense to me.