Serica Energy Share Discussion Threads

[farmscan] 20/6/2025 11:12:06

David Latin on the Today programme this morning discussing the new EIA guidance:

[sawney] 19/6/2025 11:07:04

The main reason Miliband is giving way on Rosebank and Jackdaw is because of the new company being formed between Shell UK and Equinor due to complete later this year...giving them plenty of economic and political clout (67% of Equinor owned by the Norwegian Government)

Doubt much else will change for the NS...but watch out for Norwegian elections in September...where the main parties want a change to the supply agreements to Europe...

[lord gnome] 19/6/2025 10:57:35

Good news at last. Hang out the flags.

[cardinal3] 19/6/2025 10:49:25

Well done Shell and Equinor meeting ministers and explaining why they are wrong. Real money - including taxes-and jobs at stake here. This government is good at purist principles when in opposition, but running the country needs pragmatism not the schoolboy politics of the likes of Miliband

[mirabeau] 19/6/2025 09:06:58

paring to change law that blocked Rosebank and Jackdaw sites
Jonathan Leake
Related Topics

North Sea oil, Ed Miliband, Energy industry, Oil, Gas, Court cases

19 June 2025 8:00am BST
528

North Sea oil fields were were once described as 'climate vandalism' by Ed Miliband, the Energy Secretary
North Sea oil fields were were once described as ‘climate vandalism’ by Ed Miliband, the Energy Secretary Credit: Paul Campbell/PA Wire

Two of the North Sea’s most controversial drilling projects are set to go ahead as Ed Miliband rewrites the rules on carbon emissions.

The Energy Secretary is preparing to change the law on Britain’s greenhouse gas emissions, which were relied on by a court last autumn to block Equinor’s Rosebank oil field, off Shetland, and Shell’s Jackdaw gas field, off Aberdeen.

Such a move would pave the way for the construction of the giant oil fields, and possibly open the door for more stalled fossil fuel projects in British waters to be restarted.

The two North Sea sites, which were once described as “climate vandalism” by Mr Miliband, were blocked after environmentalists successfully challenged their oil and gas production licences.

Courts in Scotland backed claims that Mr Miliband’s predecessors were wrong to approve the projects without considering the greenhouse gas emissions the oil and gas would generate from being burnt.

The court ruling infuriated Shell and Equinor, which had already spent hundreds of millions of pounds on the projects, leading to meetings between their top executives and senior ministers.

However, the Government is expected to release a draft of its new guidance on how to assess such emissions, The Telegraph understands – effectively opening the door for the energy giants to regain their licences and start producing oil and gas.

Mr Miliband’s Department for Energy Security and Net Zero last night refused to comment on “speculation” but a spokesman said: “Michael Shanks, [the junior energy minister] is in Scotland on Thursday and we will say more then.”

It is understood that the draft rules will first be subject to a consultation after which companies will be able to reapply for licences awarded before the court ruling.

Sir Keir Starmer and Rachel Reeves, the Chancellor, have both previously spoken in favour of the projects – despite Mr Miliband’s past opposition.

Rosebank and Jackdaw are respectively the largest and second largest undeveloped reserves left in UK waters, and could produce oil and gas for the next two to three decades once in production.

Jackdaw, a gas field 150 miles east of Aberdeen, is expected to account for 6pc of the UK’s entire gas output once it comes on stream – potentially supplying several million homes.

Rosebank, 60 miles north-west of Shetland, will produce mainly oil which will be loaded into tankers and mostly exported, with the UK gaining from the taxes it generates.
Government approval of the Rosebank scheme in 2023 prompted protests from climate change activists
Government approval of the Rosebank scheme in 2023 prompted protests from climate change activists Credit: Kristian Buus/Getty Images

However the new rules could lead to approval for many other such developments, potentially including the giant Cambo oil field controlled by Ithaca, which is also involved in Rosebank.

This is because the legal rulings that led to Rosebank and Jackdaw being blocked also froze development of many other UK fields whose licences had been issued under the same flawed assessment system.

These are thought to include the next phase of BP’s giant Clair oil field and Serica Energy’s Buchan Horst field.

Martin Copeland, of Serica Energy, said he would welcome any such move by the Government.

“These legal rulings have caused a hiatus across the North Sea,” he said.

“It goes far wider than Rosebank and Jackdaw. There are many other smaller developments that have been held up, impacting the supply chain companies and all their workers.”

[bountyhunter] 17/6/2025 17:14:41

One swallow doesn't make a summer.

Potential merger RNS'd 7/3/25

No prizes for guessing when it fell through!

[nigelpm] 17/6/2025 14:22:22

Serica is now up 30% on those lows and Enquest barely budged.

You pays your money....

Enquest up 10% today.

[rivaldo] 17/6/2025 07:24:23

FYI from Citywire this morning:



"Shires Income powers up Serica stake

Aberdeen fund manager Iain Pyle took advantage of weakness in Serica Energy (SQZ) to top up his holding in the independent oil group.

He holds the Citywire Elite Companies + rated oil production and exploration group in his £113m Shires Income (SHRS) investment trust and increased the position following a tumultuous April on the back of US president Donald Trump’s ‘liberation day’ tariffs.

After trimming holdings in HSBC (HSBA), following an analyst downgrade and ‘some very good performance’, and Intermediate Capital Group (ICG), which also performed strongly but ‘where risk has increased slightly’, Pyle added to Serica.

‘The proceeds were used to top up Serica Energy on weakness,’ he said.

‘The company pays a 14% yield and is exposed primarily to European gas prices. With Europe needing to refill storage this summer, we see downside well protected here, especially given the strength of the balance sheet.’

Shares in Serica Energy have increased 21% in value this year."

[captainfatcat] 16/6/2025 13:48:42

I note increasing amounts of electronic interference is being reported in the Straits of Hormuz which is effecting navigational equipment on transiting ships.

Increasing the likelihood insurance underwriters will declare Force
Majeure if it becomes unsafe to navigate these restricted water's. Essentially stopping navigation for a significant amount of shipping if that happens.

This is pretty normal in areas of conflict far to much extra risk for insurance
underwriters to carry.

[yasx] 16/6/2025 10:00:50

Nige: the Cramer of ADVFN!

[oilinvestoral] 16/6/2025 09:48:17

New 52 week highs just hit at 172.9p. Momentum definitely seems to be on our side now. We certain people turn negative , it's usually a very very very bullish indicator. #JimCramer

[bountyhunter] 13/6/2025 13:25:11

So far so good:

Golden cross 10.6.25

[bountyhunter] 13/6/2025 13:20:00

Kemi Badenoch to call for end to energy windfall tax and oil licence ban

[oilinvestoral] 12/6/2025 06:34:11

PS: Being negative when the company was facing the prospect and uncertainty of a 4 months shutdown on its key asset that had been shut down for repairs 40-50% of recent months is one thing. Being negative just as the company is about to break its all time production record and the "bucket" has been maintained for many months to remove most of its rust is idiotic to be honest. We should break 200p in short order !

[oilinvestoral] 12/6/2025 06:32:34

Agreed LG. I just wish traders would be more open & honest about selling out rather than subtly trying to ramp & promote their new trading idea. People would respect them more if they nailed their colours to the mast rather than trying to do it in an underhanded sneaky manner !

[nigelpm] 11/6/2025 22:32:01

Agreed Lord. Having been at this "game" for 25 years plus I am able to know when that sentiment is providing useful signals.

At 125p it was insanely cheap as Enquest was at 12p.

Serica is now up 30% on those lows and Enquest barely budged.

You pays your money....

[lord gnome] 11/6/2025 22:05:07

I think that's just a case of people trying to rationalise why the share price is where it is at any given time. When the share price is flat on its back there must be a bearish reason, when it's going for gold every view is bullish. Sentiment is all.

[oilinvestoral] 11/6/2025 20:58:31

I'm here for the ratios though hahah

[oilinvestoral] 11/6/2025 20:50:59

For the dunce at the back: "the age of the asset has been something I've written about many times but at long last things seem to be coming together". When the facts change rational people adjust their views. Irrational people sell SQZ and try and cross ramp a company drowning in debt. #BLOCKED

[nigelpm] 11/6/2025 19:58:03

funny innit - some folk were all bearish at 125p (rust buckets etc..) and now bullish at 162p - entertaining for sure.

[oilinvestoral] 11/6/2025 18:11:46

Totally agree Farmscan. I wish I could tick up your post again!m. It's been a long slog & the age of the asset has been something I've written about many times about but at long last things seem to be coming together. Comparing this to ENQ is ludicrous! The balance sheets are chalk and cheese ! The share price reactions since the deal was abandoned just goes to show that we (on this BB) were right in our assessment at the time. Well most of us anyway…

[farmscan] 11/6/2025 12:13:18

Well, hopefully Serica's challenges will be in the past very soon and back to 50k boepd with possibly another 5k from Guillemot and Evelyn and hopefully Belinda's 7.5k early next year.

[nigelpm] 11/6/2025 08:24:43

No. Enquest looks the much better option here given challenges at serica. We'll see.

[bountyhunter] 11/6/2025 07:46:19

Lol, you mean the prospect of a deal with Serica was propping the Enq share price up!