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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 Shares Traded Last Trade
  -0.60 -0.99% 60.20 9,856 16:35:16
Bid Price Offer Price High Price Low Price Open Price
60.00 60.40 61.20 61.20 61.20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 585.09 206.52 20.39 3.0 339
Last Trade Time Trade Type Trade Size Trade Price Currency
10:29:01 AT 9,856 61.20 GBX

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Date Time Title Posts
13/7/202011:21SEPLAT321
18/8/201413:02BUY AND HOLD in SEPLAT-
09/5/201407:53SEPLAT2

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Seplat Petroleum Develop... (SEPL) Most Recent Trades

Trade Time Trade Price Trade Size Trade Value Trade Type
09:29:0161.209,8566,031.87AT
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DateSubject
22/10/2020
09:20
Seplat Petroleum Develop... Daily Update: Seplat Petroleum Development Company Plc is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SEPL. The last closing price for Seplat Petroleum Develop... was 60.80p.
Seplat Petroleum Development Company Plc has a 4 week average price of 55.20p and a 12 week average price of 50p.
The 1 year high share price is 129.50p while the 1 year low share price is currently 37.30p.
There are currently 563,444,561 shares in issue and the average daily traded volume is 36,224 shares. The market capitalisation of Seplat Petroleum Development Company Plc is £339,193,625.72.
13/7/2020
11:21
frightened city: Seplat seems not to have heard (BAML Presentation 2020; Annual Report 2019) that an Energy Transition is in play, instead being very much focussed on building a gas business in Nigeria with a “Robust Strategy for Growth” promising to “maximise production and cash flows from operated assets; move up 2C resources into 2P reserves category; commercialise and produce gas reserves etc etc” The Majors are setting the pace in signalling Energy Transition ambitions and their commitments suggest some reasonable questions of SEPL: 1. Are they reporting, or planning to report, Scope 1, 2 and 3 emissions? 2. Do the forward plans and performance metrics relate to reducing these emissions? 3. Is the CEO, and his senior colleagues, rewarded for delivering on these ambitions? Unfortunately the answer to these questions appears to be No, No and (thus, inevitably) No, at least based on the most recent Annual Report(2019). In fact the company’s strategic priorities in Nigeria are growth related i.e delivering production and cash flow, adding further upstream gas resource and additional reserves…..adding Value in a conventional E&P way. Nothing wrong with that you might say but expectations may be changing…̷0;
31/3/2020
22:28
basem1: rolo as regards the loan to Elcrest Those monies are due back to Seplat by the end of 2024 ($414m) Have I interpretated this correctly ? It would leave SEPL in a positive cash position and make the ELA deal look very cheap indeed Just making sure I'm looking at this correctly
31/3/2020
22:17
rolo7: poppop4 sepl very poorly traded, nigeria not so populat with investors, director owns alot of shares freefloat small.
31/3/2020
19:34
poppop4: Brought this share on recommendation but am not sure I was right,why so few trades and very little movement on price on HL why? appreciate any info
27/3/2020
13:16
basem1: Wonder if we will get an IC comment next week ? We did last year Surely they can't be negative this time round with the price and company where it is ?
20/3/2020
10:12
rolo7: Time to buy now, strange that directors announce dividend 5cents days before results why if they want to buy shares at cheap price
19/2/2020
08:55
alamaison5: A very fast mover when ready. 120p target. order confirmation Thank you. Your order is confirmed Order ref:NCPFXH Buying2,813 SEPLAT PETROLEUM DEVT CO PLC NGN0.5 (SEPL) Status:Executed Placed at:08:50:35 19/02/20 Price:£1.065 Order Type:Market
28/5/2019
12:49
podgyted: hTTps://economicconfidential.com/2019/05/npdc-seplat-fg-1-8bn-n8-8bn/ Impacting share price today - RNS denying any liability issued by Seplat.
08/3/2019
09:21
podgyted: 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."
22/9/2018
12:19
podgyted: 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.
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