Seplat Energy Share Discussion Threads

[rolo7] 07/7/2021 08:07

shell to up divided payments already due to high oil price...

[deandavison245] 06/7/2021 18:38

Things to consider.

Political.

AllAfrica
Nigeria: Niger Delta Communities May Block Oil Production Over 'Satanic' PIB - Edwin Clark
By Mary Izuaka

The former minister says the bill is "unjust" and "provocative"

Niger Delta communities may stop oil companies from carrying out production activities in their domains if the National Assembly fails to reverse the newly passed petroleum industry bill that sliced revenue allocation to host communities, Edwin Clark, a former minister and leader in the region has warned.

Mr Clark on Monday described the bill passed last week as "satanic and unjust" after the Senate and the House of Representatives significantly reduced proposed revenue to oil-producing communities from the proposed 10 per cent to three per cent, but handed a relatively far higher 30 per cent for oil prospecting in areas listed as "frontier basins", mostly in the northern region of the country.

"We want to warn seriously, that the people of the Niger Delta have had enough of this colonial and oppressive mentality of our Northern brothers and friends. Today, the north controls the Oil Sector, even though day-to-day operations are being handled by the International Oil Companies (IOCs) on behalf of the federal government of Nigeria," Mr Clark said.

Mr Clark, who leads the Pan Niger Delta Forum (PANDEF), said he, on behalf of the region, rejected the three per cent and five per cent of NNPC Limited profit granted to the host communities. He urged federal lawmakers to revise the bill and pass the appropriate version.

"If this is not done, the Niger Delta people may be forced to take their destiny into their own hands and all IOCs may find themselves denied access to their oil activities in such communities," he said at a press conference where his statement was read out by a representative.

The PIB, a major legislation that holds sweeping reforms for the Nigerian oil and gas sector, was first introduced into the National Assembly in 2008, but successive National Assembly failed to pass the legislation.



Its eventual passage by the current assembly led by Ahmed Lawan and Femi Gbajabiamila, a key event praised by many, has been overshadowed by the controversial clauses introduced into the bill that now awaits a presidential sign off.

Mr Clark, in a letter, addressed to the Senate President Lawan and Speaker Gbajabiamila, condemned the provision and allocation of 30 per cent of profits for further frontier oil exploration in the north, and called it "provocative."

"It is important to state clearly here to all well-meaning Nigerians that the demand of the oil-bearing communities of the Niger Delta Region was for a minimum of 10 per cent equity participation," Mr Clark said.

"But you Mr Senate President, the Right Honourable Speaker and some of your colleagues in the National Assembly have further shown your disdain to the Niger Delta people by redefining host communities to include pipeline-bearing pathway communities, in which case States, where pipelines pass through to aid them with the privilege of cheap supplies of Niger Delta petroleum products, could also be entitled to the ridiculous and unacceptable percentages that the legislators are willing to cede to oil-bearing Communities."

[deandavison245] 05/7/2021 17:52

OPEC+ failed to reach a deal, abandoning its planned meeting and leaving the oil market facing much tighter supplies than had been expected.

Several days of tense talks failed to resolve a bitter dispute between Saudi Arabia and the United Arab Emirates, delegates said, asking not to be named because the information wasn’t public. In absence of an agreement, the cartel’s current production limits will remain in place, depriving the global economy of vital extra supplies as demand recovers rapidly from the coronavirus pandemic.

Crude prices jumped 0.8 per cent to US$76.77 a barrel as of 4:25 p.m. in London.

The outcome is a significant failure for the cartel. Relations have soured between two core members of the Organization of Petroleum Exporting Countries to such an extent that no compromise was possible. It damages the group’s self-image as a responsible steward of the oil market, raising the likelihood of a further inflationary price spike.

[gbengus50] 05/7/2021 12:56

Thanks rolo7,I saw the RNS.

[rolo7] 05/7/2021 11:49

Yep announcement today glad I topped up at 90p

[deandavison245] 03/7/2021 09:00

The direction of the oil price ?
waiting for news from the current extended OPEC meeting.

[deandavison245] 03/7/2021 08:58

Current shares
SAVE 171% 1 year return
SEPL 88% 1 year return
LEK
ADME

LEK seems a troubled share, even for Nigeria
SAVE currently suspended, waiting on news.

[deandavison245] 03/7/2021 08:54

A Board to discuss all things about Nigerian Oil Stocks with production
and the current oil price.

[gbengus50] 30/6/2021 12:31

Is there a link to register for the Capital Markets Day on the 31st July?

[krall] 29/6/2021 18:36

Q2 - What to expect? There is a new presentation on the website.

hxxps://seplatpetroleum.com/media/1579/seplat-investor-presentation-june-2021.pdf

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.

[rolo7] 29/6/2021 14:16

Big dividend yield 10cents at these levels before any special dividends as higher oil price. Capital markets day 31st July

[rolo7] 15/6/2021 08:25

Slow to move up this considering rise in oil price but two ex dividends of late though 31st July capital markets day..

[rolo7] 05/6/2021 00:30

Up to 10day wait on Halifax sd

[andyforster1] 03/6/2021 19:42

Yeah. I messaged Hargreaves and funnily enough it was received within a few hours.

[rolo7] 03/6/2021 10:53

Anyone received dividend yet?

[rolo7] 20/5/2021 13:05

Shell are looking to sell more onshore assets in Nigeria

[rolo7] 18/5/2021 11:32

Moving up nicely will £1 be resistance added a few more this morning.

[seatank8300] 06/5/2021 10:56

The indices probably have a liquidity cut-off. Seplat's deep value but there are plenty of catalysts in my view, albeit index inclusion may not be one of them.

[rolo7] 06/5/2021 00:05

moving up nicely, i remember IG took sepl of their spread betting list. Once the pipeline is finally build outside of sepl control and gas field this surley is a fste250 stock in terms of market cap just wish liquidity was better, why is this not in small cap index?

[gary1966] 04/5/2021 06:45

Anyone own these through IG? If so have you had any problems getting them to complete and submit the withholding tax forms?

Is withholding tax payable if held in a SIPP or is it like US shares that are exempt?

[rolo7] 03/5/2021 23:56

Sun newspaper said this is most profitable oil company, from Microsoft money app from sepl watchlist

[andyforster1] 29/4/2021 09:14

Market is missing this as cash build looks poor but deeper reading shows $36M yet to be recognised due to payment timings and $40M into restricted cash for the court case. (Defended). When these are reflected in the headline numbers the market will be all over this as a cash cow. SEPL has a forward PE under 2.5. With a $400M loan due to start being back from Westport in 2022. Bonkers

[rolo7] 29/4/2021 08:42

Nice statement out and now quarterly dividends i doubt it will remain at 2.5cents for long.