Serica Energy Share Discussion Threads

[waterloo01] 18/10/2024 15:40

Your right. I had it in my mind it was next week.

[fuzzle] 18/10/2024 15:38

I believe ex div is 24th and budget is 30th

[waterloo01] 18/10/2024 15:03

Could be interesting week. Ex divi day after Budget, so we expect a 9p drop, but if budget is less onerous, we should see a decent response. Should..

[waterloo01] 17/10/2024 11:11

Should see a very decent reaction here, if the budget isn't as bad as billed re use of capital loses.

[undervaluedassets] 14/10/2024 09:15

hxxps://tradingeconomics.com/commodity/uk-natural-gas

North sea gas price is hanging tough

[tygarreg] 09/10/2024 15:08

Well I have finally bought a few Serica into my Sipp and ISA. Couldn't resist 16% divis any longer. Should have got in at £1.10 but couldnt keep waiting for that to come around again. Not put the house on it but maybe the garden shed!

[parob] 07/10/2024 13:48

Higher high gonna go in at some point as a new uptrend forms.

[swanvesta] 07/10/2024 13:10

I hear Europe still imports close to 20% of its gas from Russia. It's not that alternatives will not be available (at a price) but that it makes no sense to become reliant on them if you think they could become scarcer. And, given our worsening indebtedness and balance of payments, there's not just physical security but also financial security to consider. Every boe of NS oil or gas we export pays for one we have to import.

On the other side of the debate, we are reminded that technology keeps advancing and production costs keep declining, and spare capacity grows potentially leading to a glut as fuel switching occurs (trucks to LNG for example) and the energy transition matures. I have my doubts but in the short term huge bets are being placed in that direction.

Who is right, I don't know. But I don't see anything wrong with taking the middle path.

[mickinvest] 07/10/2024 11:20

Norway gas output forecast to fall in 2025, Yanks will be rubbing their hands and promising top jobs for the likes of Milliband.

[fardels bear] 07/10/2024 07:28

So, why don't more of us do that too?

[slicethepie] 06/10/2024 12:25

We have all met characters like Milliband, they never succeed in the real world because they are never listen to other people's view, their intellectual arrogance is suited only for politics and academia. He will walk his crazy plank until he falls off and will then find some cosy job like his champagne socialist brother who exploits a charity for over £1m a year.

[captainfatcat] 06/10/2024 09:05

Article in the Telegraph about Gasprom looking at divesting it's UK assets.

[farmscan] 04/10/2024 16:28

Claire Coutinho, shadow secretary for energy has seen and tweeted about yesterday, I think.

[undervaluedassets] 04/10/2024 14:16

pineapple

very impressed with that video

Hope someone in government gets to see it.

Trouble is they are all zealots.

We need to have atleast some control over our energy supply.

Otherwise we are at the mercy of foreigners.

Good to see Serica featuring heavily in the video.

[undervaluedassets] 04/10/2024 13:14

From memory I think Serica supply 5% of the Uk's gas.

Not huge amount .. but not trivial either.

[pineapple1] 04/10/2024 11:30

A Town Called Bruce

The oil and gas sector contributes £25 billion to the UK economy and supports an estimated 200,000 jobs across the country. Many of these jobs are currently under threat from potential Government policies making future investment financially impossible. This short film, made with Brindex and the GMB, focuses on the hopes and fears of some of our colleagues from the Bruce platform. Their stories have parallels on many other platforms, in many other families across the UK. Welcome to 'A Town Called Bruce'.

Originally posted by Dr Pinkstone so credit to him.

[parob] 04/10/2024 08:01

Interim Dividend of 9p per share on 21st November, Ex dividend 24th October. That's 6.4% on current share price. That's for the interim dividend and a final dividend likely.

[parob] 04/10/2024 07:45

A close of 142p or above and this should push higher to create a higher high.

[lord gnome] 04/10/2024 06:38

Selling the oil we produce but can't use pays for the oil we use but can't produce - at least in part.

[nigelpm] 03/10/2024 23:13

Stemis is right. UK oil refineries generally can't deal with north sea oil so whilst there's a pretty strong argument to continue drilling for gas in the NS as it can be utilised close to home that argument is much weaker for oil.

[mick_oi] 03/10/2024 21:45

hxxps://www.malcysblog.com/2024/10/oil-price-serica-borders-southern-prospex-and-finally/

Serica has today confirmed that the B6 well on the Bittern field (SQZ: 64.6%), which commenced initial flowback to the Triton FPSO on 11 September, is now producing at a stable rate.

The well is producing oil and gas at a combined gross rate of around 8,000 boepd, a total of around 5,200 boepd net to Serica.

Drilling and completion activities on the Gannet GE-05 well (SQZ: 100%) have now concluded. Data collected during drilling have shown encouraging results, and production is expected to commence around the start of November. The COSL Innovator rig is now moving to drill the next well in the campaign, on the Guillemot NW field (SQZ: 10%).

Total Serica portfolio production is currently over 50,000 boepd, a level that if retained would result in the Company finishing 2024 in line with the updated guidance given at our half-year results on 10 September.

Good news from Serica today as the results from the B6 well on the Bittern field confirm success and that the well is flowing at a stable rate and has commenced flowback to the Triton FPSO and is producing oil and gas at a combined gross rate of around 8/- boepd which is around 5,200 boepd net to Serica. This is the first proof point regarding what the CEO, Chris Cox, had said so clearly at the half-year results – that Serica’s subsurface team is its secret weapon.

With drilling and completion activities on the Gannet GE-05 well concluded and data collection during drilling showing ‘encouraging results’, there could clearly be more to come. Production here is expected to start around the start of November and the rig is now moving to the Guillemot field to drill the next well in the campaign. While that one is just 10% equity for Serica, that leaves two more potentially meaningful wells to come in 2025 on the current campaign. The hope is that the Budget on 30 October will result in an environment where the subsurface team is then able to be put to work across the portfolio – there may be opportunities in other fields that could really drive the organic story.

With these completions, total production for Serica has risen to over 50/- boepd which is a meaningful rate and if retained will result in the company finishing 2024 in line with guidance updated at the recent interim results announcement.

As I said, good news from Serica as this added production is highly profitable given the additional costs, it works for the Triton FPSO and the hub and is part of the management policy of adding low cost production wherever possible. Serica stays in the Bucket List and is incredibly good value at these levels.

[bountyhunter] 03/10/2024 15:43

Good. I don't want to have to make the same point again.

[stemis] 03/10/2024 13:14

You should give up. You clearly don't understand the UK oil market, so I'll leave it there.

[bountyhunter] 03/10/2024 12:50

#7144 missing the point again Stemis, well done! I give up. If global supplies fall and prices of imported O&G rise due to the middle East situation alongside declines in home production due to political interference then that's detrimental to the UK.