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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Serica Energy Plc | SQZ | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 4.80 | 2.89% | 170.80 | 16:35:13 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 165.00 | 165.00 | 170.20 | 170.80 | 166.00 |
| Industry Sector |
|---|
| OIL & GAS PRODUCERS |
| Announcement Date | Type | Currency | Dividend Amount | Ex Date | Record Date | Payment Date |
|---|---|---|---|---|---|---|
| 01/04/2025 | Final | GBP | 0.1 | 26/06/2025 | 27/06/2025 | 25/07/2025 |
| 10/09/2024 | Interim | GBP | 0.09 | 24/10/2024 | 25/10/2024 | 21/11/2024 |
| 24/04/2024 | Final | GBP | 0.14 | 27/06/2024 | 28/06/2024 | 24/07/2024 |
| 19/09/2023 | Interim | GBP | 0.09 | 26/10/2023 | 27/10/2023 | 23/11/2023 |
| 13/04/2023 | Final | GBP | 0.14 | 29/06/2023 | 30/06/2023 | 27/07/2023 |
| 30/06/2022 | Interim | GBP | 0.08 | 27/10/2022 | 28/10/2022 | 25/11/2022 |
| 21/04/2022 | Final | GBP | 0.09 | 30/06/2022 | 01/07/2022 | 22/07/2022 |
| 15/04/2021 | Final | GBP | 0.035 | 24/06/2021 | 25/06/2021 | 23/07/2021 |
| Top Posts |
|---|
Posted at 03/7/2025 07:45 by mick_oi when the SQZ share price was 157.60p. Correct - announced on 22nd May:"Final dividend of 10 pence per share (2023: 14 pence per share) announced, subject to approval at today's AGM - The final dividend is payable on 25 July 2025 to shareholders registered on 27 June 2025, with an ex-dividend date of 26 June 2025" |
Posted at 27/6/2025 16:45 by kibes The trading of this share is so irritating ex dividend. Dividend is 10p but price is down 20p. Next time I will sell before the ex-dividend date and buy back for 20p less a couple of days later. |
Posted at 23/5/2025 10:40 by kingston78 The dividend yield at 10 p a share (7%)is one of the highest in the stock market. There is plenty of upside for the share price. |
Posted at 18/4/2025 13:50 by stemis IF there is a merger, I'd be surprised if the current high level of dividend yield (at the moment 19p on share price 125p = 15.2%) is maintained. IF the merger takes place, SQZ shareholders will end up with ENQ shares. ENQ have recently declared a dividend of 0.616p, which on a share price of 13.5p is a yield of 4.6%.Of course we don't know the structure of the merger but, as an example, if it took place at the current share prices and there was no special dividend from SQZ prior to the merger, you'd get ~9.26 ENQ shares for every SQZ share you hold. So the 0.616p/share ENQ dividend equates to 5.7p/SQZ share. Quite a drop from 19p. If the merger took place at the share prices pre announcement (120p and 11p), you'd get ~10.9 ENQ shares for every SQZ share you hold. So the 0.616p/share ENQ dividend would equates to 6.7p/SQZ share. Suspect they'd have to up the ENQ dividend, but how much is anyone's guess... |
Posted at 02/4/2025 20:09 by acevalue kingston78 So, in my example, the two houses are equivalent/comparablFurthermore, if market cap/price of the business is somehow to be relied upon rather than the value of the business (which I agree is a matter of judgement, but that's no different to valuing any other asset), since it's transparent, then it's clear that even based on that, SQZ is House A and ENQ is House B, i.e. the owner of House B has more to gain from the deal than House A. Hence ENQ up 30% in the last month and SQZ up 17%. So the analogy, even going by 'market price is accurate/transparent I've no idea how this merger is going to go, or whether it'll happen or not. But if it doesn't I'm looking forward to the divis, and the stock reaching above 175p at some point would be nice as well. |
Posted at 19/3/2025 11:52 by oilinvestoral The Tailwind Energy chickens are finally coming home to roost! The continuous operational issues being experienced at Triton didn't really require much hindsight! They could've been seen coming from miles away! Some of us were warning about the age of the assets being acquired at the time! I even asked Mitch Flegg a question in the Q1 2023 webinar on investor meet company about the quality & integrity of the FPSO and work done to maintain it (with a specific point about its uptime)! From my industry knowledge and people I had spoken to, I had my doubts! He regurgitated some marketing material that was fed to him and quoted figures of 90-95%! The realistic figure is closer to 60% as we have recently experienced!The history of the Triton FPSO gives some clues and leaves a lot to be desired! Ownership of the asset has been extremely complicated! Over half a dozen companies (inc Shell, Esso, Endeavour, Amerada Hess , Dana, Tailwind and a few others) all held a stake in Triton at some point. The stakes involved were divested numerous times. Companies looking to divest an asset typically don't spend money they don't need to in its upkeep as that's someone else's future problem.Triton has never been dry docked Typically FPSO's have a design life of 25 years. To get the full 25 years you have to be methodical when it comes to preventative maintenance and asset integrity programmes. Asset integrity becomes even more critical once you get to the final 5 years. When operators plan to utilise an FPSO for the full 25 years (or longer), they are usually advised to dry dock it and give it a more thorough service. The Triton FPSO began operating in April 2000. It's 25th birthday is in a few weeks time ! It has never seen a dry dock since first oil! In early 2023 while the accountants were busy calculating how valuable the Tailwind Energy tax losses were going to be in order to justify / rationalise one of the worst (and most expensive) acquisitions in recent North Sea history, some of us were highlighting the criticality of this aging rust bucket as make or break for this acquisition.Exhibit A :https://x.com/oilin |
Posted at 16/3/2025 17:14 by yasx OilAl,The 14p is the dividend due in July - that will be paid in any event since the deal won’t be formalised prior to that. I am expecting a further dividend of around, say, 25p. Adjusting for the above, it becomes less of an asymmetric transaction and more akin to a merger of equals. There is not a chance SQZ holders would accept a deal after which the dividend would ve substantially reduced along with their cash unless it was structured so that SQZ retained the vast majority of the Vo. A special pre completion dividend of 25p and the existing 14p reduces that chasm to some extent. |
Posted at 08/3/2025 16:51 by oilinvestoral Author: nigelpm Posted on: 08 Mar 2025 For Serica -- An immediate cash return to shareholders- Utilisation of further losses from Enquest- Diversification outside of NS - Enquest have Vietnam/Malaysia assets- Enquest are experts in decomFor Enquest -- Utilisation of further tax losses from Serica (from tailwind)- Scaling up? ------------Nigel Interesting post again! Keep up the good work! I'll address each of those points raised. "An immediate cash return to shareholders": indeed great for SQZ but removes the main benefit for ENQ (SQZ cash and strength of balance sheet)! They have no reason to accept this giveaway to SQZ! None whatsoever! You state "The question then is why do the deal? It makes a lot of sense for Serica but less so for Enquest.": indeed! On the terms you presented, it makes no sense for Enquest ! However I'm sure if you reduced the pay out to SQZ to £50 -£60million and the deal is executed on the basis of a merger of equals 55-45% or even 60-40%, it starts to become a lot more enticing for Enquest!"Tax losses": As you are well aware tax losses can only be utilised by the entity that incurred them (eg. previous TW losses don't offset Erskine profits). That's why tax losses are less useful than some believe! See the previous webinars where the SQZ CFO answered why they haven't been able to better utilise tailwind losses!"Enquest have Vietnam/Malaysia assets". EnQuest are currently 84% North Sea based and the Vietnam assets you speak of are only 5300 BOPD (a drop in the ocean) that they haven't even been purchased from HBR yet! So the overall production base of the new company will be more than 90% North Sea based and less than 10% international! Hardly the most diversified oil company in the world ! I would've hoped SQZ would merge with something like Jadestone that would've given it 33-35% international diversification into ASIA PAC! "Enquest are experts in decom": This statement might have been relevant 15-20 years ago ! It is no longer relevant! You see as someone who works in this industry, I know some of these people! SQZ's head of wells is an ex colleague who has years of decommissioning experience (with other operators)! I also know a number of ex BP and Repsol Engineers who now work at SQZ who have been involved in decommissioning projects worth hundreds of millions! SQZ are NOT lacking in experience in this regard ! That's what I tried to explain to Adam yesterday! Also I know it's a fancy new term for some people but North Sea decommissioning has been ongoing since the 1990s (just less so in the media)! "Scaling up?": This is a terrible reason to do a takeover or merger ! Anytime this was used as a reason for M&A , it ends in disaster. See a few examples in the link below :https://www.linkedi |
Posted at 08/3/2025 11:49 by oilinvestoral Now do I agree with your conclusion (70/30 plus a 250 million windfall to SQZ) ? Well I think you're probably being extremely optimistic and here is my reason why : why would they (the combined entity) borrow 250 million and over-leverage the company just to hand out that much cash to appease SQZ shareholders? I can't see ENQ shareholders accepting/ agreeing to that! What's in it for them ? The whole raison d'etre for this merger is that they want to join forces is to make use of SQZ's stronger balance sheet? If SQZ strip out the balance sheet strength, ENQ may as well remain independent.As an SQZ shareholder, I would accept it (as it is definitely more than I deserve). As a ENQ shareholder I would run for the hills! ENQ would probably looking to present this as a merger of equals and would probably be looking for something around 40% ENQ / 60% SQZ max! With significantly less cash handed out to SQZ than your suggested 250 million dollars. |
Posted at 07/3/2025 16:36 by bountyhunter Actually I was comparing SQZ with ENQ with HBR thrown in! I agree about the Tailwind deal being bad for SQZ which I kept saying at the time, despite the cheerleaders :) ...I advocated returning the huge cash pile to shareholders as a special dividend and if that had been done we would now hold the original SQZ shares for next to nothing, or less.Ace, spot on, it should at least equally benefit shareholders of both companies to be a fair deal, especially as SQZ is the better company imv as well. |
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