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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Seplat Energy Plc | SEPL | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 1.50 | 0.94% | 161.50 | 15:43:31 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 156.00 | 156.00 | 161.50 | 160.00 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Top Posts |
|---|
Posted at 25/1/2024 17:25 by neilyb675 from SeaTank8300 on LSE:"SEPL vs north sea E&P Today 14:05 I've been looking fairly closely at North Sea operators for a long time, as there are many flagwavers out there for these stocks. While I don't deny that there is value around, I don't see the risk-reward stacking up any better than SEPL. I'm often told by fans of North Sea oil that SEPL is interesting but the Nigeria risk is a problem for them. I find that interesting, as from where I'm sitting I see quite the opposite. My points would be: - North Sea oil suffers from ongoing political risk - the windfall taxes imposed on operators have been phenominal, and we are about to enter a Labour government who are vocal about their hate for the fossil fuel industry. I only see risk of further taxation ahead, removing a big part of the Free Cash Flow argument for these stocks. - The North sea and its producers have short lifespans - they have little by way of reserve life, and without incentives to grow reserves. The tax and political system is against them, the ESG lobby is hammering them, and investors are not interested either. These businesses are managing decline; by nature they are a shrinking business. They can only be valued by DCF; multiples don't work. Truth is, they are limited life businesses. - North Sea oil production is deep water and, most, being late life resevoirs, are complex in geology and extraction - these are real operational risks. We have have seen North Sea producers wiped out overnight because a resevoir has dissappointed catastrophically during the twilight of their life. Whereas.... Nigeria, and Seplat in particular, in my view, have a much more attractive risk profile: - The government of Nigeria is deeply incentivised to support growth in production, as oil represents the vast majority of fiscal revenue, and that won't change, not in our lifetimes. Tax incentives are designed to encourage reinvestment of cash generation into growing production; the tax system is therefore in support of industry growth and industry profit. The political risks are minmal. - The security issue around oil is one about corruption and state complicity in this - this unhappy balance may improve one day, but it will not destory the industry, as key players are reliant on the industry's survival to steal from it. Currently, efforts are underway to incentivise those militias that steal to instead protect. We will see. SEPL, for its part, has a track record in localising employment opportunities in the vicinity of its operations to bring communities and mafias onside. They have a track record of success, going back years and years. Moreover, their AEP (pipeline) is secure transit infrastructure underground, much reducing any risk of pipe damage and downtime. - SEPL's onshore assets have 25 years+ of life, multiples of North Sea, and without the complexity. MPNU's shallow water assets are shorter in reserve life but not complex either. These assets offer growth in production, not managed decline. A low valuation multiple is much closer" |
Posted at 26/3/2022 12:11 by deandavison245 By Obas Esiedesa, AbujaThe Federal Government has raised an alarm over the rising rate of crude oil theft in the Niger Delta, disclosing that about $3.27 billion worth of oil has been lost to vandalism in the past 14 months. The government said high-level cases of oil theft have become a threat to the country's corporate and economic existence, with the industry now thinking of transporting crude oil from fields to export terminals by trucks. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in a presentation at a stakeholders' engagement on oil theft in Abuja yesterday said the government was extremely worried about the tragic situation. The Commission disclosed that most of the crude oil losses came from Bonny Terminal Network, Forcados Terminal Network and Brass Terminal Network. It listed factors that were aiding the criminal activities as: economic challenges, inadequate security, poor surveillance, poor community engagements, exposed facilities and stakeholder compromises. The commission stated that due to the high level of theft, the country has been unable to meet its OPEC production quota. Speaking on the issue, the Chief Executive of NUPRC, Engr. Gbenga Komolafe said the government was determined to end the menace so that the country can benefit from the rising price of oil and also to protect the environment from oil spills. According to him, "the issue of oil theft has become a very worrisome issue to the government of Nigeria and I believe to you as investors too". Engr. Komolafe stressed that it was important that the government and the oil companies' work together resolve the issue especially on the agreed volume of oil lost to vandals as the issues strike at the heart of Federation revenue. "You will recall that in the last one week we have set up a crack team for us to determine the accurate figure because as a government we cannot continue to act on the basis of an abstract or inaccurate figure in dealing with an important issue as crude oil theft because the issue goes to the heart of Federation revenue". He noted that "the concern of the government is to increase our national oil production. Basically, we are an oil economy and when the upstream is sick it affects the wellbeing and the health of the country. "The situation that is happening in the upstream is getting to the level of threat to the existence and wellbeing of Nigeria. As a responsible regulator we are very concerned about it. We have been doing a lot and we are not relenting. We will do everything possible to increase oil production in a manner that will make the nation benefit from the upward swing in the international price of crude oil". It's an organized crime - IOCs In his remarks, the Chairman/Managing Director of ExxonMobil, Richard Laing who represented the Oil Producers Trade Section (OPTS) of the Lagos Chamber of Commerce, pointed out that though the issue was not new, it has grown from just oil theft to organized criminality with sophisticated operation. He said: "As an industry, I know how hard my colleagues work to produce products that we need and to suffer the level of theft that we have is disheartening. But more importantly, it is a threat to investments, a threat to the health of the industry and wealth of the nation "It is important that the stakeholders integrate their activities and their thoughts. As OPTS we have met with a number of stakeholders over the last several months and we want to make sure that whatever we do is joined up and effective. "The language is very important and I think we use theft rather quickly. I don't think this is theft, this is organized criminal activity. "The level of sophistication in terms of tapping into the pipelines, the distributions, efforts required to move hundreds of thousands of barrels a day isn't some guy coming along and taping into a pipeline and taking container crude oil. It is organized criminality", Laing stressed. 82% of production was stolen in February - IPPG On its part, the Independent Petroleum Producers Group (IPPG) disclosed that about 82 per cent of its oil production was stolen in the month of February 2022. Close Represented by the Managing Director of Waltersmith Petroman, Chikeze Nwosu, the group said the independent producers were facing existential threat. Nwosu explained that the oil theft challenge has grown from what it used to be in the past of about 4 percent to a high of 91 percent in December, 2021. According to him, "The TNP (Trans Niger Pipeline) is the major issue. We have seen crude theft grow from single-digit percentages to reports of 91 per cent in December for some of the operators who produce into the TNP, 75 per cent in January and the February report we got has an average of 82 per cent". He pointed out that the situation seems to be getting worse despite all efforts to curb it. He, therefore, called for urgent action from the government and stakeholders. Vanguard News Nigeria |
Posted at 19/10/2021 11:14 by seatank8300 Quick and dirty update as to why Seplat Energy is a no-brainer today. Consensus forecasts for Seplat's 2022 earnings have the oil price at $58 with net income at $171m; at the current oil price level, assuming only their production of 33kboepd of oil benefits from higher realised pricing (i.e. gas doesn’t, I need to check that), and assuming a marginal tax rate of 50%, then approximately $80m additional income should fall to the bottom line next year. That would take earnings to $250m in 2022, which makes for a PE of 3.1x. Not only it’s cheap, but Seplat’s pivot to Sustainability causes (ending flaring, driving the energy efficiency transition to gas in Nigeria, as well as LPG and renewable energy projects), will pull in institutional investors in my view. The stock deserves double that earnings multiple in my view – 100% upside. |
Posted at 18/10/2021 13:35 by deandavison245 OPINIONHEALTH Home NEWS COVER STORIES Investors Besiege Oil Companies’ Shares Over Rising Crude Prices Olushola Bello by Olushola Bello 7 hours ago in COVER STORIES, Featured, NEWS With the upward trend in global oil prices, investors are building positive sentiments around oil, thereby ensuring that the oil and gas sector on the Nigerian Exchange (NGX) Limited grew by N145.734 billion in the first nine months of the year. The gain was triggered by the gains in the share prices of Seplat Energy, Eterna and Oando Plc. Market observers said the current global oil trend suggests that the increase in the average Brent prices would translate to an increase in revenue for oil companies which should also reflect in the earnings per share. Also, the Oil & Gas Index recorded the highest positive movement to reflect a growth of 62.37 per cent for the year-to-date (YTD) as of September 30, 2021. NGX Premium index followed with a gain of 117.27 per cent, while NGX Pension index rose by 11.79 per cent. The NGX Oil & Gas Index comprises nine listed Oil and Gas Marketing companies: Ardova Plc, Conoil Plc, Eterna, Japaul Gold and Ventures, MRS Oil Nigeria, Oando, Seplat Energy, Total Nigeria and Capital Oil. Capital market analysts said the growth in the NGX Oil & Gas Index was spurred by gains in the share prices of Seplat Energy, Eterna and Oando. According to them, Seplat Energy, being one of the major players in the Nigerian upstream sector, the company’s share price has seen an impressive gain of 76.49 per cent from N402.3 in January to N710.00 as of September 30, 2021 |
Posted at 16/9/2021 16:20 by rolo7 Ast think there is a form to fill in from sepl investor website page then to post off |
Posted at 05/8/2021 13:49 by rolo7 No you never do they say they meet corporate governance but never answer the small investor. This will fly when pipeline get sorted and 12% oil loss reduces due to thief downtime but been saying that for years... |
Posted at 04/8/2021 12:18 by sunbed44 Anybody had success contacting investor relations. They never answer phone or return emails |
Posted at 29/6/2021 18:36 by krall Q2 - What to expect? There is a new presentation on the website.hxxps://seplatpetrol On page 24 we see: - Oil Business Perfomance - Average W.I. production in 3M 2021 28,541 boepd - Production has recovered strongly since quarter ended, nearly 34kbopd achieved in April and higher in May. (June we dont know anything about but trend looks intriguing and Nigeria OPEC+ volumees has improved. +34000 barrels of oil per day would be a record for SEPL) page 25: GAS BUSINESS - Q1 114 MMscfd (W.I.) achieved across the quarter - Two new gas wells expected to produce 75MMscfd combined (gross) - Oben-50 completed January, Oben-51 completed March. (That´s gross 10000boepd, means gas behind pipe for contracted volumees should not be a problem) All the signs are there for a good Q2 and with capitals day coming up it feels good. |
Posted at 06/3/2021 09:16 by krall To get a sense what we are developing with the Anoh project this presentation has a lot of info. A six well developent will deliver > 550 MMscfd (~90000 boe/d) from a field with 3,66 tcf gross reserves! That is huge productivity per well.The Assa North / Ohaji South (ANOH) gas and condensate field straddles OML 53 (Seplat 40% WI and operator) and OML 21 (Shell JV) ANOH is unitised 50:50 across the two blocks. Six well development to deliver >550 MMscfd seplatpetroleum.com/ |
Posted at 19/2/2021 13:41 by swanvesta Relevant post from SAVE bb, with a few concerns:ZENGAS 19 Feb '21 - 12:34 - 1897 of 1899 0 7 0 Re Seplat/Save It's nothing to do with infrastructure in so called Nigerian backwaters. Maybe take a look at where so many power stations are located to recieve gas that goes out across the country and that gives a better idea, not to mention Lafarge and other industries. It's not just about selling gas to all and sundry, but having guarantees that we are paid. Either way there will be more than enough choice for growth. Niger may be land locked but of no consequence now as i see it. No different than when neighbouring Chad didn't have any oil infrastructure, not landlocked but still had to build a very significant pipeline. Niger initial small 20k bopd refinery but a major export pipeline started via Benin and there is still an option to connect to the Chad pipeline. Railway option into N/Nigeria or additional pipeline. Hasn't been an issue for me and the Chinese being there with it's amount of reserves makes it compelling in terms of monetisation. Seplat rating from Fitch. hxxps://ng.investing Seplats most of their oil production is in the high risk Niger delta. "The company's primary export route, was shut down for 305 days in 2016 and more than 182 days in 2017, adversely affecting operations". You only have to google Niger Delta oil threats and see it's always in the background and last month a threat of full scale attacks across the delta. hxxps://www.energyvo 7E operated the same oil based business as Seplat and was in part responsible for it's failure i beleive and Save did not buy into those. I've viewed Seplat as higher risk based solely on having only one country of operation and where its main infrastructure is. But there again, ones mans risk is anothers opportunity/investme Sepalt supplying 30% of Nigerian power on a 50-50 basis with it's partner NNPC so imo they could focus less on guarantees given NNPCs involvement so might invoke more risk. Reports in AEI 18/12/20 of setbacks with the Eland acquisition. All top execs went. "OML 40 in trouble. The Elcrest joint venture, formed by Eland and Starcrest, has since 2015 held 45% of OML 40, which is operated by NPDC (55%), a production subsidiary of the state-owned Nigerian National Petroleum Corp (NNPC). An explosion occurred at the site in early November, cutting output by several thousand barrels per day. Contacted, Seplat said the blast had had a "very limited impact" on production, without going into details. This wasn't the first mishap at the site: an earlier explosion in June 2020 cost the lives of seven people and halted production for several weeks." (Much longer artictle). Then Dec/Jan and the Cardinal Drilling Co issue and the bank so none immune from litigation. As a company Seplats got great assets but for me to make a sizeable personal investment i find it exposed by being in just one country and predominantly in the highest risk area of it. I feel the Nigerian stock exchange listing can weigh on it depending on the countrys circumstances and what impact Nigerian investors might have on it. In terms of their gas growth it should though offer a huge diversification. Saves infraststructure well away from problematic areas in the S/E but that's not to say it's ever risk free. Having a 2nd country of operation and seeking a likely 3rd country for diversification with significant production potential greatly spreads risk profile. As for a Save div - Theres some $12m minimum dollars in oil revenue last year at the lows. Save Gas contracts are in 'dollars' and those paid in Naira converted to dollars and any shortfall on exchange rate made up so not entirely correct that funds can't be repatriated though there is a CB dollar shortage. In terms of any div, $3m was recently pencilled in by one broker and Company also recently said under consideration for this year so comments on a div not being payable is not correct. Save might lag Seplat in terms of production but i made a post last year where i felt they'd be in similar production terms as Kosmos or Tullow without anything near their massive debt loads. I think this is what has given Save a high diversified blue chip investor base with the recent addition of Vitol among them. Each company has its own merits/risk so down to the individuals perception of risk imo. |
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