Serica Energy Share Discussion Threads

[bountyhunter] 24/4/2024 18:12

Regardless it's not done their share price much good since that merger was mooted and rejected. Shareholders should have got Serica's cash not Kist (or Tailwind) but at least Tailwind had substantial tax losses to carry forward to compensate.

[oilinvestoral] 24/4/2024 18:10

Gas exposure aside , net cash would've protected the downside!

[oilinvestoral] 24/4/2024 18:09

They are NET cash! That's the whole point m! We've gone one way they've gone the opposite way!

[nigelpm] 24/4/2024 17:55

Great chart bounty - proves the point perfectly.

[farmscan] 24/4/2024 17:49

I don't follow Kistos, how much cash and debt do they currently have? TIA

[oilinvestoral] 24/4/2024 17:44

I don't want to prong this topic as the board perfect might not like it and will no doubt start chirping soon enough! In 2022 KIST had debt. Since then , they have paid off a huge chunk of debt and are now net cash. They did this using their own assets. If you add that cash build from KIST to a debt free SQZ! You will get a very large NET cash position! Significantly better than the current net debt balls up we find ourselves in due to enriching our private equity overlords!

[farmscan] 24/4/2024 17:35

Why would the cash position be better if Serica had merged with Kistos rather than merging with Tailwind? I don't understand your thinking.

I am aware of the c200m debt, but most of the cash has gone on tax and dividends, so the same would still apply.

[oilinvestoral] 24/4/2024 17:30

Looks like I jumped the gun! In my post to celebrate the dividend this morning , I didn't notice the facts that the company has narrowed down the production range from the upper end towards the lower end.They are also predicting little or no growth in 2025.Looks like operational mishaps are continuing. No wonder the share price has ended flat ! Will take the June divi and reassess my position thereafter. Some people are still deluded enough to think Fleggy wasn't sacked! SMH

[oilinvestoral] 24/4/2024 17:23

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 17:21

"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 16:57

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 16:14

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 16:10

What an unpleasant person you appear to be oilinvestorAl.

[oilinvestoral] 24/4/2024 16:05

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 15:59

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 15:35

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 15:08

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

———;——

oilinvestorAl - Nothing has been “confirmedR21; yet

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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 15:00

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 14:58

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 14:57

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 14:56

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 14:27

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.