Serinus Energy Share Discussion Threads

[tnt99] 17/5/2022 09:17

Thought as much lol

[optmist] 17/5/2022 08:48

Well done for pumping this.

[bbm_144] 17/5/2022 08:38

Never know a share price not drop considerably on consolidation. As has happened here....... poor around from Auld and co I'd say.

[andrbea] 17/5/2022 08:23

The timetable of the Consolidation is as follows:

-- Upon implementation of the Consolidation, shareholders on the register of members of the Company on 6:00 p.m. (BST) on 16 May (the Consolidation Record Date), will exchange every 10 Existing Ordinary Shares that they hold for one Consolidated Ordinary Share.

-- It is expected that the Consolidated Ordinary Shares arising as a result of the Consolidation from Existing Ordinary Shares held in uncertificated form will be credited to CREST accounts at 8:00 a.m. (BST) on 17 May 2022.

[trader4ever] 17/5/2022 07:47

this share consolidation will kill the share price completely. This Sh*t will be back to 1p again in short time. Useless and incompetent management doing their best to destroy share holders value in every possible manner.

[the chairman elect] 17/5/2022 07:47

Exceptional share price rise

[tnt99] 17/5/2022 07:32

Those pumps are now working lol

[tnt99] 17/5/2022 07:27

Nice rise today

[bbm_144] 16/5/2022 13:06

P*ss poor management have killed this stone dead.

[cal57] 16/5/2022 06:44

Thanks to Odon on LSE for the link.-https://m.youtube.com/watch?v=nOqKsfA7mXU

[dave4545] 14/5/2022 11:51

I doubt anybody paying themselves a million a year is going to get the hump at what a random and none premium account is saying about them on a bulletin board as they sit in their garden in the luxury detached house in a nice area.

Trust there's worse out there. In Zin the top 2 take 1 million out a year and it's still loss making, when questioned about it he says his wages are in line with the industry pay, just incredible, we all trying to get along and make a few bob and there's people out there on these penny stocks paying themselves a fortune and nothing seems to be able to be done about it.

[thegreatgeraldo] 14/5/2022 11:14

redroobbo13 May '22 - 22:07 - 1750 of 1751
0 3 0
From shareprophets

I recently covered Serinus Energy (SENX) as a speculative buy based on the likelihood that the results for the first quarter would be good and the company would have benefitted from high commodity prices and fairly low Capex. So here is the apology.

Unfortunately, although those results did indeed show strong revenue and profit – as compared to the loss it had been making – they also showed that production had declined significantly at its Romanian operations as a result of that limited capital spend.

.......Major problem in Romania strikes me as the unexpected failure of the Sancrai-1 well.....

[thordon] 13/5/2022 22:42

Its all in the mind , completely understand what SENX have done short term to just carry on without upgrades due to high gas prices and oil.
ITS another 3 month wait which will prove the 2nd quarter results with $4 million of oil in storage waiting to be sold.
That's when i suspect upgrades to be carried in in 2 quarter.

[redroobbo] 13/5/2022 21:07

From shareprophets I recently covered Serinus Energy (SENX) as a speculative buy based on the likelihood that the results for the first quarter would be good and the company would have benefitted from high commodity prices and fairly low Capex. So here is the apology.Unfortunately, although those results did indeed show strong revenue and profit – as compared to the loss it had been making – they also showed that production had declined significantly at its Romanian operations as a result of that limited capital spend.That has caused the share price to slump to around 1.45p on the bid, as compared to the 1.7p level that I tipped it at, and the wider market conditions won't exactly have helped either, with the FTSE down over 2% at one point yesterday and lots of shares taking big hits, especially in the commodities sector.Although I'm certainly not happy about the results, I'm not necessarily in any rush to sell the shares that I hold, and for anyone who did buy at around that 1.7p level, I'd see a reasonable chance of at least getting your money back in the near term – the shares actually opened at 1.7p on the bid yesterday, so the chance was there to get out at breakeven anyway if you didn't like what you were reading in the quarterlies.The big problem – as I mentioned in my last piece – with this company has always been the rate of decline at its wells, and particularly at its Sabria gas field in Romania, and the amount of Capex that has been required in the past even just to keep output stable.That is still very much the case, as the company only produced a total of 1,115boepd during Q1 of this year, as compared to an average of 1,649boepd during 2021, which of course is disappointing, and virtually all of that decline came from Romania with just 610boepd versus 1,078boepd last year. Although Capex was much lower than the same quarter in 2021 - $1.5 million in total versus $3.5 million – Serinus still spent $1.3 million in Romania during the three month period.Work in Romania should accelerate during the second half of the year – although that will of course come at a cost – as rigs become available to a workover and pump installation at Sabria W-1, as part of the artificial lift programme, followed by a workover and recompletion of the Sabria N-2 well. The company really needs this to be a big success and to actually increase production, as opposed to just stopping the decline.Despite the production problems though, the financial performance was actually pretty reasonable as it achieved revenue of $13.4 million up to the end of March, resulting in EBITDA of $3.1 million and a net profit of $1 million – versus a $1 million loss in Q1 2021.What was disappointing to see though was that cash in the bank dropped from $8.4 million to $6.2 million, which I wasn't expecting to see given the fairly limited Capex spend.The company should certainly have been able to take more of an advantage of the very high oil and gas prices, given that it achieved an average realised net price of $184.57/boe, and with an average netback of $148.88/boe. In terms of the income and profit generated, it is also worth noting that the company lifted 42,000 barrels of oil from its Tunisian storage facilities during April, which had previously been produced, and that was sold for $104.79/barrel, with that $4.4 million or so of revenue being recognised in the next quarterly results.Even at current production levels, and assuming oil and gas prices were to stay high, the company would still make a decent net profit for the year, compared to its market cap and given that many of its similar sized peers make a loss, and should have enough cash for the work that it has planned, but at the same time I also wouldn't be expecting any sort of cash build to occur whilst production is so low and it is having to spend money to try and rectify that. So, taking all of that into account, and whilst I'm far from impressed with what the company managed to achieve and wouldn't necessarily be rushing to buy in here or to add shares to my small position, I also don't see any good reason to dump them in a panic either at the current share price and given that the market cap here is just £17 million, but I'd certainly consider exiting if the share price was to bounce back and staying on the sidelines until it can prove that it is able to offset decline whilst managing to build its net cash position at the same time.

[bri15] 13/5/2022 18:36

what T4E posted seems 100% correct to me,well done Sir on posting what most if not all genuine investors feel about the clowns in charge.

[trader4ever] 13/5/2022 10:20

Senior management of this company is completely useless and do not have he right credentials to run this company, for them monthly salary is like casino winnings to enjoy lifestyle without commitment to deliver any value for shareholders. JA and his gang is shameless group of people despite destruction of the share price from 16p to under 2p they are still awarding themselves millions of share options and huge salaries. Sadly no big shareholder are taking stand against these incompetent management.

[mick1909] 13/5/2022 05:15

You cant buy this stock through Barclays i wonder how many other platforms you cant too shame as the credentials seem fantastic

[supercity] 12/5/2022 17:32

Todays reaction was a general market meltdown reaction.Consolidating shares is a smokescreen - absolutely no reason for the fall.Give it a few days and suddenly people will see the results were fantastic and it will have one of those silly up days.

[bbm_144] 12/5/2022 14:12

Bit of a disaster. The BoD seem to have little interest in realising share holder value.

[ashleyjv] 12/5/2022 12:32

Every company I've owned that consolidted it's shares has always taken a dive (Before consolidation)then goes back up after (Usually)

[trader4ever] 12/5/2022 12:14

Management must be fired immediately. they are useless, why are they still getting paid every month. when shareholders are suffering from their incompetency.

[neo26] 12/5/2022 11:56

Look at the decline rate in romania, they need more gas.