Serica Energy Share Discussion Threads

[fardels bear] 26/3/2018 22:03

Regarding Endeavour seeking protection from bankruptcy. Until they are actually asked to pony up for development of Columbus then they are not going to be in default of the contract terms and thus remain free to attempt to sell the asset. Surely.

[general george] 26/3/2018 21:38

Chesnuts/Dunderheed,

That would be handy!
Heres hoping

GG

[chestnuts] 26/3/2018 21:37

rossannan

You are right about that

[chestnuts] 26/3/2018 20:38

Dunderheed

proactiveinvestors.co.uk/companies/market_reports/107590/oil-north-sea-assets-put-on-the-auction-block-107590.html

[dunderheed] 26/3/2018 20:15

Normally if a partner cannot continue to pay and the liquidator cannot sell in a time frame necessary to pay cash calls and not get pre empted by other partners, then their equity becomes the ppty of the other partners in their relative proportions and then they have to pony up increased cash moving forwards. I think this happened with FirstOil for some of their assets? Corect me if wrong but Cairn took some of their equity at nil value for one of their n sea assets I think? Just b4 going into operations or right at end of large capex costs!?
Whose gone bust on the Columbus project then?

[chestnuts] 26/3/2018 20:08

The partner of Columbus which are bankrupt could end up giving it to sqz if they dont cough up the funds for developing columbus , the terms will be in the contract.

[general george] 26/3/2018 13:51

I guess they are right once every century then hahaha

[fardels bear] 26/3/2018 13:43

Peel Hunt have had this as a strong buy for about a hundred years.

[dunderheed] 26/3/2018 12:52

Almvisi any chance of update news 're Erskine?
Has my 'work' referenced above fed through to operator yet lol?!

[fuji99] 26/3/2018 11:37

A "BUY" at Peel Hunt.

[dunderheed] 26/3/2018 11:35

Georgie, 6243 please see 6242. As I clearly stated I've bashed the pipe around a bit and think I 'felt' the blockage 'loosen' and hence expect for good news soon, certainly by results in April. Mark my words.
I take onboard the fact that oil gas isn't going anywhere and this is merely a blip however shudder to think where share price would be if the bkr deal hadn't been announced!!
All imho and no investment advice intended!
Best of luck all.

[general george] 26/3/2018 11:22

Last I heard they had made a partial breakthrough and were pulsing the line, I think they had used diesel oil previously.

Not sure if this time is the same approach or another solvent or dispersant is being used.

Anyway hoping for a remedy, although the production is delayed, the oil/gas isn't going anywhere. We don't have debt commitments to meet, more of an inconvenience.

GG

[dunderheed] 26/3/2018 11:07

Worrying over the time taken for this minor issue, I actually took it upon myself to do something about it and dived down over the weekend with my hammer. I took a look, did a bit of my own 'repairs' and think I loosened the wax deposits and am thus reasonably confident we will hear positive news on this soon?!
Best of luck all.

[chestnuts] 26/3/2018 10:59

Genral

I agree it would be great for Erskin back on line but i think they will deal with the pipeline in the summer when major maintenance takes place, it will have to be planned.

I favour Wednesday for news this week

[general george] 26/3/2018 10:55

Let's make I a double whammy, with Erskine back online as well.
Or even better, permanent solution is due to be commissioned in the next few weeks!

Failing that, I will pick up some cheap easter eggs early next week :)

[chestnuts] 26/3/2018 08:40

I wonder if we will hear something on Columbus this week if the rumours are true.

[fardels bear] 25/3/2018 23:13

Brent $70.31.. Looks like it means it this time...

[fardels bear] 23/3/2018 18:02

Dow is doing the bride's nightie this evening..

[captainfatcat] 23/3/2018 15:22

Think SQZ get a premium over brent for the Erskune condensate as well not sure how much. News it was back on line would be welcome.

[fardels bear] 23/3/2018 15:16

I was just going to say that.

[captainfatcat] 23/3/2018 14:55

Brent above $70

[dunderheed] 23/3/2018 14:22

Stan assuming everything goes reasonably to plan that 80p will look very good buy matey!!

[dunderheed] 23/3/2018 14:21

Who the f's this golden goose?! Lol.

[nigelpm] 23/3/2018 13:52

hxxps://www.epmag.com/endeavour-energy-kicks-north-sea-asset-sale-sources-say-1691771