Serica faces questioning from existing backers
Serica faces ‘aggressive’ questioning on Tailwind deal
The UK-focused producer is finding shareholders disgruntled by its latest proposed M&A
AIM-listed UK E&P Serica Energy is not having an easy ride from existing backers about its plan to acquire peer Tailwind Energy. The component of the deal giving Swiss commodity trading house Mercuria, a large stakeholder in Tailwind, a 25pc share in the enlarged firm is a particular lightning rod for dissent. A mid-January investor presentation saw Serica CEO Mitch Flegg responding to what he called “quite aggressive” questions from those with doubts about the transaction. These included complaints that a “40pc share dilution to existing shareholders is unfathomable”. “How is this acceptable?” they asked. 25pc – Mercuria’s future stake in Serica “How is the company not seeing
Also in this section
10 March 2026
From Venezuela to Hormuz, the US—backed by the most powerful military force ever assembled—is redrawing not only oil and gas flows but also the global balance of energy power
10 March 2026
By shutting the Strait of Hormuz, Iran has cut exports of distillate-rich Middle Eastern crude, jet fuel and diesel, and is holding the energy market hostage
10 March 2026
Eni’s director for global gas and LNG portfolio, Cristian Signoretto, discusses how demand will respond to rising LNG supply, and how the company is expanding its own gas and LNG operations through disciplined, capital-efficient investments
9 March 2026
Petroleum Economist analysis sees increases in output from Saudi Arabia, Venezuela and Kazakhstan among others before region’s murky descent
