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Share Name Share Symbol Market Type Share ISIN Share Description
Seplat Petroleum Development Company Plc LSE:SEPL London Ordinary Share NGSEPLAT0008 ORD NGN0.50 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +3.00p +2.52% 122.00p 119.00p 122.00p 122.00p 122.00p 122.00p 356 16:35:05
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 585.1 206.5 20.4 5.9 687.40

Seplat Petroleum Develop... Share Discussion Threads

Showing 276 to 300 of 300 messages
Chat Pages: 12  11  10  9  8  7  6  5  4  3  2  1
DateSubjectAuthorDiscuss
09/5/2019
12:42
Pipeline ready to go in june hence big 700k share buy the other day
rolo7
07/4/2019
13:43
another nigerian stock with huge potential if anyone looks at the charts we are due a massive reversal.3 month and 1 year chart. https://uk.advfn.com/stock-market/london/canadian-overseas-petroleum-COPL/chart/real-time https://uk.advfn.com/stock-market/london/canadian-overseas-petroleum-COPL/chart/real-time
nicky21
22/3/2019
19:40
That's me out - offered a sale at 129.5 post divi. Now watching - Q2 with new pipeline might be the kick this needs.
podgyted
13/3/2019
11:41
Right, that's me in with an initial 7500 shares.
basem1
11/3/2019
13:05
Actually in the short-term I prefer ELA.
podgyted
09/3/2019
07:11
Thanks Podgyted. I like the chart, it's setting itself up nicely with last nights 127.5p close on November's support. There was a couple of resistance points at 129.5 which I believe will now be taken out next week.
basem1
08/3/2019
19:17
Ignore IC bit above - they've reported. They've moved to a hold. "In our buy call last year (131p, 12 Apr 2018), we suggested that “a return to the dividend list might prove to the market that Seplat is once again investment grade”. Whether the company’s status as a bargepole investment can be reversed remains to be seen, although the 15¢-worth of distributions declared for 2018 point to its merits as a total return stock. Reflecting this pivot to income, we move to hold. Last IC View: Buy, 144p, 30 Jul 2018" So just watch if you believe the sages of the IC. It reports quarterly and news flow on investment activity in 2019 is key here IMO.
podgyted
08/3/2019
18:58
That's a reasonable course of action. It is definitely below the radar. The only immanent upcoming event which may give a boost is the Investors Chronicle (and I'm dubious) has tipped them in the past, noted their full year result and said their tip was under review - suspect they will publish something next week. I not convinced this would be a major boost. I'm in and very happy just waiting and banking the dividends. (Operationally, over the next year, there is loads they could do. Essentially they need to get their ar*e in gear, they have loads of cash and assets that are screaming to be developed - they do this, it will fly)
podgyted
08/3/2019
12:21
It's under the radar. Jupiter is the only name I recognise on the shareholders list. Worth more but what's going to drive it higher ? I can't see a small quantity of Private investor purchases driving it. Best watched for now ? Unless someone can persuade me who knows a little more than myself.
basem1
08/3/2019
10:00
Looks nice, I've a buy order in at 126.5. Not in a rush here
basem1
08/3/2019
09:21
GMP note 8/3/19 - summary "Moving to the next step of growth  Seplat delivered more very strong quarterly financial results with YE18 net cash of US$135 mm, ahead of our expectations of US$87 mm given strong free cashflow.  FY19 production is expected to stand at 49-55 mboe/d. However with a 16 well drilling programme in 2019, gross liquid production could increase by 30 mbbl/d by YE19 (OML 4, 38 and 41 representing 50% of this additional production). This could boost the company’s WI oil production from 25.7 mbbl/d in 2018 to over 30 mbbl/d by YE19. WI gas production could also increase from 145 mmcf/d to over 180 mmcf/d by YE19.  2P oil reserves at OML 4, 38 and 41 are stable at 174 mmbbl (175 mmbbl at YE17). Overall contingent resources have increased by 20 mmboe to 80 mmboe with gas at OML 4, 38 and 41 now accounting for 193 bcf (45 bcf at YE17).  FID has now been taken on ANOH. The overall equity capex net to Seplat remains c.U$250 mm (incl US$40 mm for upstream) with US$280 mm debt to be raised by the Seplat/NGC 50/50 midstream JV. First gas is expected in late 2020/early 2021 (we carry 2022).  2019 capex is estimated at US$200 mm plus c. US$200 mm for ANOH.  We reiterate our BUY rating with a target price increased from £2.70 to £2.90 per share as we have now derisked the development of ANOH (that we valued at £0.51 per share, NPV15% from 2020). Seplat is a showcase for what Nigeria can deliver when managed properly."
podgyted
06/3/2019
10:59
GMP "Seplat Petroleum (SEPL LN); BUY, £2.70: 4Q18 results – FY18 WI production was 49,867 boe/d (GMP FEe: 51.3 mboe/d) including 25,669 bbl/d oil production (GMP FEe: 26.1 mbbl/d). This compares with FY18 production guidance of 48-55 mboe/d. Uptime at Forcados was 85% (GMP FEe: 18%) with 8% losses (GMP FEe: 8.2%) over the period. The company has declared a further US$0.05/sh dividend on top of the previously announced US$0.05 per share dividend. FID at ANOH has now been taken but the link to Escravos is now anticipated to be completed in 2Q19. FY19 production guidance has been set at 49-55 mboe/d (GMP FEe: 54.5 mboe/d) including 24-27 mbbl/d of liquid (GMP FEe: 29.8 mbbl/d). FY18 operating cash flow was US$501.5 mm (GMP FEe: US$438 mm) with cash outflow from investment activities of US$31.2 mm (GMP FE: US$56 mm), resulting in a strong net cash position at YE18 of US$135 mm (GMP FEe: US$87 mm). YE18 2P reserves were 480.5 mmboe (YE17: 477.3 mmboe). A conference call is taking place today at 08:30 am UK time (tel: . Market reaction: positive on strong cashflow and net cash. The FID of ANOH is another positive but was probably largely anticipated. Seplat continues to be a value name with strong execution capabilities. The dividend yield at the current price is c. 6%. BUY."
podgyted
06/3/2019
07:41
Looks good. EPS of @20p gives a PER of 6. 15c of dividends this year gives a yield of 9% (10c excluding special). Wish they'd finish that bloody pipeline.
podgyted
10/1/2019
21:12
Don't see why not.
podgyted
10/1/2019
15:58
Trading above 120p hey! 140p for sure now, perhaps 150p?
alamaison5
10/1/2019
14:39
Thanks for the BBC doc. In for the ride! Also, they did receive an offer a few years back...Can't say more...
alamaison5
05/1/2019
11:00
Seplat is covered in a video dated 18th October 2018 - "Gearing up to develop Nigeria's gas fields. https://www.bbc.co.uk/news/topics/cxwdwz5d8gxt/natural-gas
podgyted
30/10/2018
13:18
GMP First Energy "Seplat Petroleum (SEPL LN); BUY, £3.25: 3Q18 results – 3Q18 WI production was 50.3 mboe/d (GMP FEe: 54 mboe/d)including 26.5 mbbl/d oil production (GMP FEe: 28.6 mbbl/d). FY18 production guidance of 48-55 mboe/d is reiterated. Uptime at Forcados was 88% (GMP FEe: 85%) with 7% losses (GMP FEe: 10%) over the period. The company has declared a further US$0.05/sh dividend on top of the previously announced US$0.05 per share dividend. FID at ANOH and the completion of the connection to the Escravos pipeline continues to be expected in 4Q18. 3Q18 operating cash flow stood at US$141 mm, ahead of our expectations (US$118 mm) with 3Q18 Free Cash Flow of US$121 mm (GMP FEe: US$80 mm). Positive movement of working capital (c+US$20 mm) on further reduction of receivables only partially explains the difference. Net cash at the end of September was US$84 mm (GMP FEe: US$39 mm). Market reaction: while 3Q18 production is below our expectations, losses were less than we had modelled and the underlying Free Cash Flow generation of the company continues to significantly beat our expectations. The overall dividend for 2018 is in line with our expectations. Seplat continues to be a value name with strong execution capabilities. The dividend yield at the current price is 5.6%. BUY."
podgyted
30/10/2018
11:16
@ ROBIZM It's a PUT so sunken cost.
smaf
30/10/2018
08:03
Oil hedge not the best
robizm
30/10/2018
07:49
Another 5c dividend - seems on track for the year to beat revenue targets. Pipeline "before year end". I guess that will have to do.
podgyted
29/10/2018
12:48
Well presuming Q3 results out tomorrow or very shortly after. Still looks good value even allowing for Nigerian location. Elevated oil prices should continue to be of benefit and increasing gas production should keep the tax charge under control. If cash generation is continuing as per Q2 I think we'll see a bit of a jump. Hoping for news on pipeline - they should be able to give a date by now.
podgyted
22/9/2018
12:32
hxxps://nigeriaoilgas.com.ng/2018/08/10/gas-as-key-enabler-to-diversify-nigerian-economy-nwosu/
podgyted
22/9/2018
12:19
cartonet 18/9/18 - From ELA thread "ELAN back from the depths (again !!)" Dear Subscriber, This is a weekly insight of news and events in the Power, Oil and Gas industry in Nigeria and around the world. This roundup is for the week ended August 24, 2018. If you are an Oil and Gas Investor or stakeholder then this Newsletter is tailor-made for you. You can also subscribe to our other Newsletters and have some of the best insights from the world of investing in Nigeria, straight in your mailbox. We also love feedback, so, do send us some as we continue to make this Newsletter informative and useful to you our subscribers. Cloud of darkness on Oil blocks renewal In an earlier newsletter, we discussed the pending renewal of a number of upstream leases in 2017/2018. The renewal of assets is a risk for oil and gas operators as they could be revoked or approval gets delayed despite the assurances the Petroleum Act offers. The Petroleum Act describes the conditions to qualify for asset renewal which includes payment of outstanding royalty debts and liabilities to the government. Recently, the Directorate of Petroleum Resources (DPR), the agency charged with administering licenses and directly under the supervision of the Minister of Petroleum has reported earnings of $1 Billion from the renewal of Oil Mining Leases (OMLs) and Oil Prospecting Licenses (OPLs) in 2017. The details of the assets renewed, amount received, and owners of the renewed leases are unavailable. The syndicated press release by DPR was decidedly ambiguous and incoherent. Malfeasance thrives in darkness. Did all the companies meet the prescribed criteria? Were there any change is asset sizes? Were the renewal fees the best the country can get? Many questions, no answers. DPR even brushed away questions from the House of Representatives. The industry grows with transparency, with public information on renewed assets, businesses, SMEs, financial institutions, NGOs and the public at large can make better decisions, and the industry thrives. Katsina Refinery: Delay or Denial A few weeks ago, we outlined our thoughts on the feasibility of the Katsina refinery and Niger pipeline project. Our analysis suggested the project may be feasible given the economics of the upstream company driving the project. We may have missed a few things there because the company in question, Savannah Petroleum has now signed an ‘early production agreement’ with the Nigerien government to use the Chinese built Soraz refinery. This is only a few weeks after the same Nigerien government signed a Memorandum of Understanding (MoU) with its Nigerian counterpart. From our analysis, this may be a temporary setback for the Katsina refinery given the limited size of the Soraz refinery, Savannah Petroleum has seen stunning success in its exploration activities in Niger recently prompting the decision to fast-track development. Katsina might work if Soraz cannot handle increased capacity, but then the Chinese might just expand to accommodate increased production capacity. We will be watching developments on this. Seplat – The Gas and Oil Company Seplat Petroleum is transforming to a gas company with some oil. Since acquiring Shell’s stake in some Western Niger Delta assets, the company has blossomed from an upstart to a thriving, result-oriented business, continuously delivering value to stakeholders. Becoming a gas company may have been by circumstance as the assets they have acquired have mostly been gas rich but they have doubled down, developing a reputation for quick project delivery. It’s a peculiarly integrated and diversified indigenous company with a balance of upstream oil, upstream gas and midstream gas portfolios. The company has moved eastward of its current base as it seeks to develop the Assa North Ohaji (ANOH) gas-rich fields. Assa North is actually owned by Shell/NNPC while Ohaji South is owned by Seplat/NNPC (bought Chevron’s stake). Before Seplat’s acquisition of Chevron’s stake in Ohaji South, Shell was designated to develop midstream facilities for ANOH but they slept on it. With Seplat, the sprightly and more ambitious company in play, they were better positioned. Now, it’s going to develop ANOH’s 300 mscf/d processing facility with NNPC’s subsidiary, Nigerian Gas Processing and Transportation Company via a wholly midstream vehicle. Seplat’s midstream strategy is curated to take advantage of tax benefits. With ANOH and potential future expansion, a central processing facility (CPF) is being established in the east, a critical thrust of the 2008 Gas Master Plan. Location is very ideal too as it is proximous to the 42 inches Oben – Obiafu/Obikrom interconnector pipeline. We assume the completion of the OB-OB3 is a conditions precedent for the ANOH project. Overall, the ANOH project provides a huge benefit to everyone – domestic gas market, Seplat, NNPC, FIRS. Eland Oil – Rising Star UK headquartered Eland Oil is top contender for our Independent Oil Company of the year. Its meteoric rise in the last 12 months is unrivalled in the industry. A successful 4 well campaign has given rise to 100% increase in oil production (from 12,000 bopd to 23,000 bopd), alternative evacuation options have been secured, OPEX significantly reduced above peer facility uptime recorded and to top it an 80% increase in share price on the London AIM. An investment of $1 Million in March 2017 would have yielded $1.8 Million within one year. Exceptional performance, by any standard. Its future is bright. Improved cashflow has given the company headroom to pursue the development of Ubima field, a farmed-In marginal field owned by All Grace Energy Limited. With Gbetiokun and Ubima fields in the horizon, Eland is positioned to accelerate beyond its peer companies in the nearest future. NB: Professor Adebulugbe, a former Special Adviser on Energy to President Obasanjo is the public face of All Grace Energy Limited, the owner of the Ubima field. An Encore on the broken power market We are publishing again our recent commentary on the current broken power market Never in our history have we witnessed the current public mudslinging between private operators and government. A frustrated Minister of Power launched a public tirade against the DISCos (Electricity Distribution Companies) perceived inefficiencies and the Discos replied with a very uncomplimentary published statement. As this newsletter has warned repeatedly in the past, the power market is significantly broken. Broken beyond normal repair, hence the frustration on both sides as solutions seem remote and beyond the parties. Yes, the solution is beyond the Power Minister or the Discos. It’s with the President. The simple but key reason for the state of the market is lack of enforcement. Seems very simplistic but enforcement of the rules (of law) is the pivot on which economic prosperity or in this case a successful market stands. The problem of lack of meters, transformers etc. are ‘chicken and egg’ as investments would only follow an orderly and predictable market. Enforcement of contracts: Discos and Customers, Discos and NBET, NBET and GENCOS is the key to repairing the market but it takes a steely will from the top of the hierarchy to address the issue. Discos have poor revenue collection metrics because of managerial inadequacies and lack of consequence for stealing power or avoiding payments. The enforcement of the contract between the DISCo and customers is an onerous job but very critical to the health of the market. The President needs to consider this seemingly simple issue as a priority, emphasizing to the nation the importance of payments, rallying round law enforcement and penalties on government-owned agencies and individual customers. What is a market if the rules cannot be enforced? And enforcement is sadly beyond the Minister of Power of Disco’s capabilities. With enforcement of rules and contracts (fuel contracts, PPAs, Vesting Contracts, Transmission tariffs, MYTO) across the chain, losses will crystallize at the weak nodes. NBET may become insolvent, MYTO reviews may not be totally cost reflective but the process isolates the areas that now need interventions and temporary subsidies. The current process of throwing subsidies across the power value chain is creating a moral dilemma and perpetuating indiscipline. The World Bank which currently supports the power sector may attach conditionalities that encourage enforcement of rules in its future interventions. Without the rules, chaos beckons.
podgyted
14/8/2018
09:38
GMP First Energy "Seplat Petroleum (SEPL LN); BUY, £2.60: Positive progress at ANOH – Seplat and NNPC have signed a shareholder and share subscription agreement so that NNPC will hold 50% of the JV handling the processing of gas produced from OML 53 and OML 21. Market reaction: slightly positive as this is an important step to FID the project. Our Unrisked NAV for ANOH is £0.26 per share. We currently carry the project at £0.13 per share (50% CoD)"
podgyted
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