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SQZ Serica Energy Plc

131.80
1.50 (1.15%)
Last Updated: 13:10:58
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Serica Energy Plc LSE:SQZ London Ordinary Share GB00B0CY5V57 ORD USD0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  1.50 1.15% 131.80 131.60 132.00 132.40 130.70 130.80 378,824 13:10:58
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 632.64M 102.98M 0.2638 5.00 508.73M
Serica Energy Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker SQZ. The last closing price for Serica Energy was 130.30p. Over the last year, Serica Energy shares have traded in a share price range of 110.40p to 242.40p.

Serica Energy currently has 390,426,423 shares in issue. The market capitalisation of Serica Energy is £508.73 million. Serica Energy has a price to earnings ratio (PE ratio) of 5.00.

Serica Energy Share Discussion Threads

Showing 28126 to 28148 of 28900 messages
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DateSubjectAuthorDiscuss
10/7/2024
12:49
Stemis,
They have referenced closing ALL loopholes - which, on sny view, was a reference to removing all allowances and capex deductions.

Ed has a remit - just look at the clowns appointed yesterday in his department - all net zero climate criis warriors, none of whom think it appropriate for themselves to buy an electric car oruse public transport.

yasx
10/7/2024
12:26
Good post MT. Any of those three might make a good acquisition away from NS waters.
bountyhunter
10/7/2024
11:27
Just being cynical... I could see a few small mid size producers bought on the very cheap with private money...then run production purely to break even... awaiting better times/common sense...although the latter is highly unlikely with Ed...
sawney
10/7/2024
10:02
Labour Government's proposed policy to increase the total tax take to 78% and end the deductibility of Capex...

I'm not aware they have specifically proposed ending the deductibility of capex. What they have said is that they'd end the special investment allowance that effectively raised the deduction to 91%. If they merely allowed normal capex it would be an effective deduction of 78%. That's why I said that there is a lot of detail to fill in...

stemis
10/7/2024
09:54
Zero chance Labour reverses course on increasing the windfall energy tax. Taxing "greedy" energy companies is about the lowest hanging fruit they can possibly pick from the tax raising tree.

It may or may not be low hanging but it's not really that juicy. According to the OBR forecast tax receipts from Oil & Gas in 2024/5 are only £3.8bn gradually falling over the next 3 years...

stemis
10/7/2024
09:54
O/T

The impact of the Tory's usury windfall tax on the UK O&G industry and threat, since realised, of an incoming socialist Labour Government's proposed policy to increase the total tax take to 78% and end the deductibility of Capex, is very likely to lead to the complete collapse of exploration activity and most production development.

Beware of unintended consequences - The financial distress of most small/mid cap UK focused E&P companies is a near certainty, with many likely to fail(who would want to buy their 'assets'?), thereby increasing the risk of a sizeable proportion of the North Sea O&G sector's decommissioning costs becoming the responsibility of the taxpayer.

What a contrast to the forward thinking governments of Angola and Malaysia - who this decade have made their O&G industries some of the most competitive in the world to attract foreign investment - with predictable results: a tsunami of new investment to enable the natural divestment of mid/late stage assets from NOC's and the Majors to second phase small/mid cap's with a proven track record of safely operating these type of assets.


Shareprice performance since Arrow Exploration's London listing in October 2021

Production entirely outside UK Tax Regime:
+ 855% - Valeura Energy
+ 365% - Afentra
+ 364% - Arrow Exploration

Material Production within UK O&G Tax Regime
-23% - Harbour Energy
-41% - Serica Energy
-48% - Enquest
-66% - Kistos

Top three are focused on regions of world where government objectives include maximising O&G output at producing fields, by granting license extensions and favourable fiscal terms to investors, enabling cost recovery regardless of infill well results.

With respect to O&G equity investment it's certainly helpful to have this downside protection of a 'Flood Tide'(highly competitive fiscal and operational terms, and long license extensions for mature assets), and the upside potential of a 'Strong Tail Wind'(high quality mid/late life assets being divested by IOC's and NOC's at very competitive prices) behind you!

Essential if you wish to attract high quality second phase operators looking to minimise shareholder risk and maximise investment return.

Infuriatingly, the UK's third rate political and institutional class seem determined to destroy what is left of our once world leading offshore O&G industry. It is a policy that is economically naive in the extreme and putting our energy security during the transition phase to clean energy at huge risk, as New Zealand and Australia are already finding out.


You get a helluva lot for your money when buying large mid life O&G assets in the maturing O&G basins of the world like Angola and Malaysia, with a backdated effective economic date in a rising oil price environment!

UK - Rosebank Field - First Oil expected 2026 - (Gross Figures)
336m - P2 Reserves
69,000 bopd - Estimated Peak Production
$8.2 bn - Project Cost (Source: Energy Voice)

Equinor has a $1.5bn price tag for a farm out of 20% of the asset - the buyer would then have a further outlay of over US$2 billion before first oil.

At least a 75% UK tax rate until 2029.


Angola - Block 3/05 + 3/05A (Gross Figures)

Block Licence End Date: December 2040
108m bbls - 3/05 - P2 Reserves
43m bbls - 3/05 - 2C Resources
62m bbls - 3/05A - 2C Resources

23,000 bopd - Current production
40,000 bopd - 2028 production target

3.5bn bbls - STOIIP 3/05 + 3/05A
1.3bn bbls - Produced from 3/05 to date / 42% recovery rate (target >50%/+250m bbls)
2.5m bbls - Produced from 3/05A to date / 1% recovery rate(target > 30%/+90m bbls)

Afentra will have likely paid a net circa $9.7m (after sale of oil inventory but before modest outstanding contingencies) for 30% of Block 3/05 and 21.33% of Block 3/05A.

3/05 - Updated Fiscal Terms from 1/1/2024 improve contractors’ cost oil limit from 65% to 75%, and the contractors’ profit oil share from 30% to 40%. As a result Afentra's net NPV at a 10% discount rate increased from US$214.5 MM to US$254.9 MM.

3/05A - Fiscal Terms for Marginal Field



In addition to that already announced, the Angolan O&G regulator is planning new legislation in H2/2024, with respect to further contract and fiscal incentives to encourage the reactivation of production and drive operational efficiency in assets previously suspended due to low oil prices.

'Marginal Projects: Many oil and gas activities in development areas were suspended when deemed not economically viable. The Government's intent is to encourage the reactivation of these activities within development areas.

Legislation will enhance the oil and gas business environment, providing new guidance on oil and gas operations and processes that include streamlining of work programs.

The Government also plans to implement contract and fiscal incentives that will promote operational efficiency in mature and marginal fields.'

mount teide
10/7/2024
09:38
Wrong board
atmysignal
10/7/2024
09:38
I spoke to the nomad this morning Very upbeatHe wouldn't rule out 80s Dyor
atmysignal
10/7/2024
09:36
Zero chance Labour reverses course on increasing the windfall energy tax. Taxing "greedy" energy companies is about the lowest hanging fruit they can possibly pick from the tax raising tree.
tabhair
10/7/2024
08:58
I doubt they'll row back on private school fees but there's still a lot of detail to fill in on their plans for oil & gas taxes. King's speech is 17 July and summer recess was due to begin 23 July but is likely to be pushed back to end of July. Labour's first budget is likely to be mid September earliest but could be as late as November.
stemis
09/7/2024
20:40
It is plainly the sensible thing to do - hopefully the Davos/NATO/WEF collective allow Starmer to change course.
yasx
09/7/2024
19:57
I suspect they'll look for reasons to row back on stuff like VAT on private schools, energy windfall taxes etc... we'll see - common sense tells me they will.
nigelpm
09/7/2024
19:03
They are idiots but I don't think they'll go so far to completely decimate the industry - even they will know that tax revenues are going to have to found elsewhere.
nigelpm
09/7/2024
17:58
They need to announce an acquisition to spread assets across different geographies - and soon.

Stammer/Millibland’s unyielding war on NS shows no hope of a change - only today they have announced Fahnbuller (part of the 2024 intake) as an energy minister - she apparently has always claimed one of her top priorities is addressing the climate crisis. One thing is for sure - these nuts will create a energy crisis in the UK

yasx
09/7/2024
16:09
Is that dividend set in stone though?
arlington chetwynd talbott
09/7/2024
16:03
lordy! yes look at that divvi
nemesis6
09/7/2024
15:52
All because of labour tax plans but overdone now.
Got some before the director buy last week at £1.37. My first SQZ.
If it falls much more will have some more at 17% dividend.

pjackson2
09/7/2024
15:38
dont get too excited the way this is dropping well be a penny share soon
nemesis6
09/7/2024
08:27
What about the AROs?
adam
09/7/2024
07:55
Enquest would be perfect, on the growth spirt, buybacks, plus has 60% of its oil wells outside UK. Plus share price and free cash is a great buy!!
97peter
08/7/2024
19:50
I can't really see Touchstone being of interest to SQZ. The chart doesn't look great and they haven't been hit by the windfall tax to explain the descent. Enquest could be interesting but aren't SQZ looking outside of the UK (although ENQ do have some interests in Malaysia)?
bountyhunter
08/7/2024
19:19
We could buy Enquest or Touchstone, both would enhance SQZ and we can afford it, fund it and start taking profits from day 1!!!!!
97peter
08/7/2024
17:50
I would agree PDMR do not guarantee a good outcome,seen BOD purchases mess up big time.
But these are big buys and they gonna know what poss deals they could go in for.
You really think this guy put huge sum in on a whim. Get real.

pjackson2
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