Serinus Energy Share Discussion Threads

[1elonmusk] 04/1/2025 12:38

Cash and assets valued at £60 million, with a market capitalization of £3 million. The company holds substantial oil reserves, potentially worth billions. After 18 months of strategic accumulation, a prominent New York investor has taken control."

[researchcentre123] 03/1/2025 10:16

Your assumption here is that Xtellus knows something that we don't. They don't appear to be activist. Richard Snell, the largest shareholder for a while, would qualify as smart money by most counts, but it didn't help him. So yes, if the sidetrack happens, and works, then it's a game changer. Otherwise the most positive outcome would be a liquidation, which Auld would hate as he'd lose his job (who'd give him another?)

[jaknife] 03/1/2025 08:48

Looking at this based on the current ratio it's insolvent.

[1elonmusk] 02/1/2025 22:14

Looking at this based on nav it should be priced around £0.2🤔

[hussyo] 02/1/2025 18:49

I stand by my original prediction, and the name of this thread. I know who is buying through Xtellus, and smart money doesn't accumulate 30% of a co. unless they'd done their homework. Looking at the ttm will only give a partial feel for a business. What matters is the next 12 months. The sidetrack will be very significant. Very significant indeed. I also have a sneaking suspicion they will pay a divi in H2. Etc etc

[researchcentre123] 31/12/2024 10:15

Hard to say what to make of things at this point. No doubt that the company is cheap, but unless it starts profitability, it will go bust. The biggest issue is that Auld has a history of NOT executing. It's always someone else's fault. His partners are in no hurry to push along Tunisia, so it's all their fault - not his for the agreements he makes. Meanwhile, he waits and spends all the money on salaries and is proud of his record for the environment. I suppose if I had an oil well and didn't extract, I too could be proud of my environmental record. Someone who executes has to be on site checking what's not happening and discussing that, solving the problem. How often is Auld on site? My guess is he's sitting at home, presumably in the UK, no doubt being a great Dad, but also a destroyer of the savings of those who have believed him as he eats through them delivering broken promises. Xtellus don't seem to be launching a bid. They could replace him with someone who knows how to get things done but to date haven't even put someone on the board, so I guess they are not activists. So we wait and see whether things get so bad that Auld gets things moving. The last fund raise won't last that long.

[sd88] 30/12/2024 18:45

Absolute rubbish

[encarter] 29/12/2024 17:10

0.67m before commission and expenses.

[jaknife] 29/12/2024 13:56

Let's take a look at Serinus Energy (SENX), which is being ramped across the boards by some delusional idiot.

The last Q3 results reveal a perpetual loss-making company:



P&L
* Losses for the nine months to the end of September were $2.6m on a pitifully low revenue of just $12.2m

Cash Flow
* Cash flow is better, as there's a large depreciation charge but, nevertheless, the company started the year with $1.34m of unrestricted cash and, after 9 months, had $1.27m of cash so it's a cash burner as well
* Because of the poor cash flow the company was forced to place at 2.5p to raise funds just before Christmas
* The company wanted to raise £1m but, because there was so little interest in the placing, they only managed to raise £0.67m
* Since the placing the share price has fallen further and is now at just 1.95p

Balance Sheet
* The balance sheet is a hopeless mess with $14.4m of current liabilities compared to just $9.2m of current assets - hence it's technically insolvent on the current ratio
* There are $65.7m of PPE and Exploration assets on the balance sheet, which are obviously over-valued and need to be impaired - the assets generate pitifully low revenue and ultimately losses!
* Accumulated losses are $402m!

Conclusion
Serinus Energy is yet another AIM dog that needs to raise cash every year to support its ongoing losses. Avoid like the plague!

JakNife

[tabhair] 20/12/2024 15:38

Everyone seems to have given up on this share, sentiment is abysmal.

The situation clearly isn't great, but is the negativity overdone? Assuming the VAT refund comes the company will be in a solidly net cash position. Xtellus put their money in at 2.5p, you can currently buy shares on the market at just under 2p. I don't imagine they took part in the capital raise without any conditions. Perhaps this are giving this one last shot to turn around. If it doesn't they will own enough shares to push for a sale of the company.

[researchcentre123] 20/12/2024 09:47

It takes a certain skill set to take a share price and collapse it 10x in 3 years. Auld should run a course on how to be a reverse Warren Buffet. Greatest skill is clearly sounding plausible but not knowing how to execute

[sd88] 19/12/2024 17:43

Get Auld out

[researchcentre123] 19/12/2024 13:38

Here's a good business plan. Get to run a company. Promise the earth and raise money. Spend it all on wages and delay all projects as they might need cash which puts your salary at risk. When you're out of cash, raise some more diluting shares further for salaries and give yourself lots of shares in the company. Buy a few shares now it's truly undervalued and investors are bailing on you. Perhaps then sell something to a mate, and use that money also for salaries. Don't waste money on shareholders even if there's a chance of dividends What's not to like.

[tabhair] 18/12/2024 22:31

hxxps://youtu.be/PEzd3WAEITU?t=1032

Just four months ago Auld said he had no plans to raise capital. You can hear it straight from the horses mouth in the link above.