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SEPL Seplat Energy Plc

144.60
0.20 (0.14%)
Last Updated: 09:28:35
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Seplat Energy 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
  0.20 0.14% 144.60 144.40 144.60 144.60 144.60 144.60 20,757 09:28:35
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Oil & Gas Field Services,nec 696.87B 54.58B 92.7479 0.02 1.08B
Seplat Energy Plc is listed in the Oil & Gas Field Services sector of the London Stock Exchange with ticker SEPL. The last closing price for Seplat Energy was 144.40p. Over the last year, Seplat Energy shares have traded in a share price range of 95.20p to 155.00p.

Seplat Energy currently has 588,444,561 shares in issue. The market capitalisation of Seplat Energy is £1.08 billion. Seplat Energy has a price to earnings ratio (PE ratio) of 0.02.

Seplat Energy Share Discussion Threads

Showing 51 to 74 of 700 messages
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DateSubjectAuthorDiscuss
03/2/2015
11:51
Here's an interesting article. I don't usually take much notice of Fool articles but this one is on the money, I reckon:

How Realistic Is A Seplat Takeover Of Afren Plc?

Afren (LSE: AFR) has managed to push back debt and interest repayments, and a few investors are happy to bet on takeover speculations, but to me it doesn't look good -- and it does not look like a solution is around the corner, either...

After all, why would Seplat (LSE: SEPL), the most likely acquirer, spend more than 5p a share for Afren's equity? Am I being too bearish? Here's what you should know about a possible merger between Afren and its suitor.

Way Out
Afren was up almost 100% in late trade on Monday, closing at 10p, up 88.7% on the day. It surged 44% on Tuesday morning at the time of writing, but its shares still show signs of distress. Technically, Afren has not defaulted on its debt -- it has just agreed to push back repayments in order to save about $65m. That's not a lot when you consider Afren's debt pile is about $1bn.

As you may know, Afren may not have much time to get things right, and while a huge cash call north of $500m would help it continue to run its operations for about a year, such an outcome is highly unlikely, in my view. Then, there remains only one way out: a takeover by Seplat, an independent exploration and production company, which has time to come up with an offer by 13 February.

The Deal
Afren is not much bigger than Seplat, which should generate revenues of about $900m in 2014, and has a market cap of $1.1bn. Afren will likely turn over about $1bn in 2014, but its equity is worth less than $200m, given that the company is fighting for survival. If Seplat walks away, Afren will be in serious trouble...

Seplat secured $1bn worth of refinancing in mid-January, and that's about the total enterprise value of Afren (market cap plus net debt). Combining the balance sheets of the two -- and considering Afren's $1.5bn of debt and Seplat's latest revolver plus additional $500m of existing debt on its books -- yields a pro-forma gross debt position of $3bn for the combined entity.

Afren's gross cash position is negligible, while Seplat has about $400m of cash on hand. So, the combined entity's net debt should come in at about $2.6bn in 2014, with Ebitda at $1.2bn, excluding synergies. This implies manageable net leverage, although the problem is how much cash will be needed to fund capital expenditures on an annual basis -- which should comfortably come in at more than $1bn a year.
While there remains a reasonable doubt that the parties may reach agreement, Afren can be sold only if Seplat continues to have easy access to capital markets and raises more debt... but, to do so, Seplat will likely want to negotiate a hard bargain for Afren's assets, and there is no reason why it should pay more than 7p for Afren's equity, i.e. roughly last week's level of 5p plus 2p for additional cash savings.

Outlook
Afren said in its H1 2014 results that it was targeting a five-year double digit production growth. The balance sheet remained strong, with net assets of US$1,972 million (H1 2013: US$1,498 million).

"Production ramp up starts in 2H 2014," Afren added, listing a very healthy pipeline including projects known as Ebok ("6 new producers planned," it said), Okoro ("1 infill well and 1 side-track well"), OML 26 ("3 new producers planned, currently logging while drilling (LWD) on first well") and Okwok ("commence fast-track development drilling").

On top of that, it predicted positive outcomes for Ebok deep exploration and "transformational reserves potential" ("only 26% of total discovered 2P/2C barrels in production or under development").

For a company running the real risk of going out of business, such a pipeline is worth very little... but retail investors are mopping up the penny stock. They'll have only themselves to blame if things go bad.

As such, I'd expect volatility in Afren's stock price in the next few weeks. Personally, Afren is not worth the risk above 6p a share, although I appreciate any outcome is possible right now.

dukedosh
03/2/2015
11:51
100k at 139p :)

been a buyer around for a few days now and given the low free float it is starting to be reflected in the share price movement..

sportbilly1976
03/2/2015
11:36
Let's hope so.. :-)
mellowman62
03/2/2015
11:29
mellow,

quiet BB's are usually a good indicator for a stock...

onwards now to 150 :)

sportbilly1976
03/2/2015
10:49
Mohahahahahhaa - that better?
talk2dubya
03/2/2015
10:24
Still very quiet here
mellowman62
03/2/2015
09:33
moving along nicely...uptrend forming too

AFR recovering from its distressed seller induced lows - an offer around 20-25p per AFR could be coming imo

a recovery in POO, an also technically with a nice "W" forming here should see us into the £2's nicely

sportbilly1976
03/2/2015
08:00
Be interesting to see what happens if/when they pick up AFR on the cheap then.
talk2dubya
03/2/2015
08:00
Be interesting to see what happens if/when they pick up AFR on the cheap then.
talk2dubya
02/2/2015
15:54
Dubya,

only ~10% in free float though

sportbilly1976
02/2/2015
14:11
Yep the volume has really picked up. Very illiquid though...
talk2dubya
02/2/2015
12:50
someone filling their boots at 125p
sportbilly1976
01/2/2015
18:12
sub £2 soon
mrshaungcm
01/2/2015
16:12
sube 70p very very soon.
hvs
01/2/2015
14:48
Seplat has been given a two week deadline by the UK Takeover Panel to make a firm offer for Afren Plc or walk away. Seplat now has until 1700 GMT on Feb. 13.
dukedosh
30/1/2015
09:52
which is normally a good thing!

AFR moving today - I guess the funds' stock which they had to sell has now been absorbed.

Which way will the dice roll come 5pm?

sportbilly1976
29/1/2015
17:25
Very quiet board?
mellowman62
29/1/2015
10:52
A new one to me - a zero share trade ??

Time Price Qty Type Bid Offer B/S Total Buy Total Sell
10:36:35 130.51 0 O 126.00 130.00 Buy 90,773 17,125

sportbilly1976
29/1/2015
03:10
Think all will be known on Friday. AFR issue is not that the assets are poor, but one of liquidity. SEPL hav that liquidity and can pick these assets up for cheap in any share swap. 40:1 would be about right :)
talk2dubya
28/1/2015
17:30
Only until they in the know decide to short lt.
kulvinder
28/1/2015
14:55
Indeed, a lovely "W" all the way back to £2 :)

Looking at their 2013 results (2014 due end of March?) only 10% of the shares around in free float, so good institutional support

sportbilly1976
28/1/2015
13:45
Yep that chart looks beautiful at the moment as well if they do.
talk2dubya
28/1/2015
09:47
SEPL could easily do a 10 or 12:1 paper offer, renegotiate or part-pay some of AFR's debt down with their funds and get a superbly enlarged producing Company.

Certainly, the two week extension has played into their hands showing the weakness of AFR's finances

sportbilly1976
22/1/2015
20:36
22-01-15

Oil price rebound could take markets by suprise:

coxsmn
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