Serica Energy Share Discussion Threads

[gemlotte55] 08/4/2024 09:26

From dividend max and stockopedia

[bountyhunter] 08/4/2024 09:04

Where have you got that from?

[gemlotte55] 08/4/2024 08:30

Results are due 11th April

[bountyhunter] 08/4/2024 08:09

Last year they announced around this time (a few days earlier) when finals would be published. Nothing yet this year.

[popit] 08/4/2024 08:03

The final dividend last time was 14p

So a final dividend for 2023 of less than 14p will be a cut in the dividend

And when are the final results due anyway?

The Serica website does not even say when the final results are due

They do not seem to be very concerned about their shareholders

[nigelpm] 07/4/2024 18:44

Should be a decent dividend given the stellar updates on reserves since the acquisition.

[bountyhunter] 07/4/2024 17:43

True, I've corrected my post, I was looking at the predicted column on dividend max.

[farmscan] 07/4/2024 17:41

The final was 14p last year.

[bountyhunter] 07/4/2024 16:35

I would like to see the 14p [corrected] dividend maintained but my confidence in the current management achieving that is low despite the cash inheritance from the old SQZ, and that the deal was sold partly on the suggested huge level of potential tax reclaims.

[creditcrunchies] 07/4/2024 14:16

It would have to be a guess because we don't know how much tax they're going to get hit with. Looking at other North sea operators reporting they've been royally screwed by the UK government

[xxx] 06/4/2024 08:40

Interested to hear what people estimate for the final dividend ?

I wouldnt be surprised at 10p but have little confidence in my guesstimate, as it seems to the financial performance for calendar 23 will be weak, but Q1 24 decent...

[mrscruff] 02/4/2024 07:44

"is being presumptuous with the dividend." Thankfully we have that oil barbell and with oil rising we are in luck. But longer term I get your point.

[oilinvestoral] 01/4/2024 23:46

Mr scruff : " looking at SQZ through the lens of 188p and a dividend yield of over 12%."---------I agree but I think someone is being presumptuous with the dividend. Rumour in the Deen is the dividend gets reset. Hope I'm wrong but there's balance sheet questions to be answered!

[oilinvestoral] 01/4/2024 23:44

Hunter154 : "Quick question. Does tax losses help offeet corporation tax only or does it also reduce EPL."--------------Crickets! You won't get a response from the pugnacious disingenuous accountant as the answer doesn't suit the narrative being pushed. So I will answer you instead! No my dear hunter154 ! Unfortunately Tailwind's tax losses do NOT offset EPL!! Not only that, but the losses can ONLY be used to offset Tailwind's earnings! That's why some of us question the overall supposed benefit of these tax losses! Specially once labour are in power later this year! When I raised this point last year, I was immediately told by the happy clappers that "we will utilise the losses before Labour took over"! Dare to question the value of the historical tax losses and you're immediately encircled by accountants wielding spreadsheets like a pack of hyenas! It's a good question that you raised and now you know the answer! I hope you also now know why certain prolific posters completely ignored / bypassed your question. Happy to help ...

[stemis] 01/4/2024 22:04

Does tax losses help offset corporation tax only or does it also reduce EPL.

No, wrt to EPL, there is no allowance for losses generated prior to its introduction on 26 May 2022)

hxxps://www.nstauthority.co.uk/regulatory-information/exploration-and-production/taxation/

[spectoacc] 01/4/2024 16:11

Paid to wait on the inevitable oil price rise. From what level is another matter.

[ashkv] 01/4/2024 16:01

Flegg A Bad Egg Who On Tailwind Negs!

Flegg Hurry Off The Plank Back To The Deep Dregs!

[nigelpm] 01/4/2024 14:44

Agreed. So very boring and monotonous and worst of all full of errors.

[mrscruff] 01/4/2024 08:54

Are we incapable of moving on and looking at SQZ through the lens of 188p and a dividend yield of over 12%. In the same way you can't buy past returns then you cant avoid past losses either.

[oilinvestoral] 29/3/2024 18:34

"I want to clarify that I am not condoning the price SQZ paid for Tailwind;"--------Sounds like someone agrees with me but wanted to argue the toss for the sake of it ... Have a nice day

[oilinvestoral] 29/3/2024 18:24

"Also, gross profit per barrel is not relevant when most of it is taxed away."--------Hunter Who mentioned anything about gross profit per bbl ????Also not claiming to be an oil guru! But would certainly put my oil knowledge against any of the pugnacious bulletin board experts who were calling reserves p2!

[oilinvestoral] 29/3/2024 18:22

There's more than 1 way to skin a cat! A very common valuation metric is dollars per flowing bbl. In my experience:$ 20,000- 25,000 / bbl the buyer got a good deal.25k-30k is going rate fair value.Anything above $35k/bbl and the seller is laughing all the way to the bank. I agree though that 2P is more common among non-industry participants! When you add decom liabilities we were fleeced based on every single metric known to man! Enough about 2P though, the accountant on here was calling it P2 a couple of weeks ago but yet wants to argue the toss...

[hunter154] 29/3/2024 13:22

For an oil guru you seem to be missing the main point.
Oil producers are valued on 2P reserves and not current production.

Also, gross profit per barrel is not relevant when most of it is taxed away.
SQZ have reduced their tax from 76% to 55%, due to their acquisition, so this is not a linear/ binary evaluation.

To stop the self-proclaimed Oil guru from boring us with another long essay, I want to clarify that I am not condoning the price SQZ paid for Tailwind; just providing a different view point from the Guru.

[oilinvestoral] 29/3/2024 10:51

Another metric I've used in my sector to value previous oil M&A I was involved in! Now this might be a new one for the pugnacious accountant ... it's dollars per flowing barrel. You simply see how much production was in the last quarter for the acquired company and you divide that figure by the EV announced on the date of the acquisition! Not some future date as production may increase or decrease in future! On a per flowing bbl basis:Ithaca are paying around $26,000/ flowing bbl Wait for it .......We paid over $43,000 / flowing bbl Just to be kind to SQZ, I've ignored the ginormous decommissioning liability we took on!