Serica Energy Share Discussion Threads

[nigelpm] 16/5/2024 18:44

Changed your view somewhat ken from previous that was "buybacks are terrible"

[pineapple1] 16/5/2024 18:37

From the HBR board.

timmy1116 May '24 - 16:11 - 4666 of 4667
0 3 0
The US oil giant Chevron has announced it will quit the North Sea after 55 years, the day after Jeremy Hunt turned down industry pleas for support at a private meeting.

Chevron said that it had decided to leave the region following a review of global operations to determine “whether assets are strategic and competitive for future capital”. The company insisted this was not connected to Britain’s tax regime.

It came a day after Mr Hunt rejected calls for respite from a windfall levy that has driven up the tax on oil profits to 75pc.

Industry leaders told Mr Hunt that there was “one last chance” to halt a “catastrophic” decline in investment in UK waters that risks reducing oil and gas output by at least 50pc by 2030.

However, the Chancellor is understood to have made no promises to change tack – pointing out that Labour’s threats to increase the windfall tax by another 3pc and to cut investment allowances should they win the election, were the key deterrent to investors.

Chevron packing up. Everything to do with WFT despite the denial.
This WFT is going to really stiff the Uk energy security
If this and succesive govts believe they can just somehow drop it overnight in the future and companies will come running back they are sorely mistaken
Once rigs and personel are relocated they ain't coming back.
So the UK will be even less energy secure than they are now by some margin.
imho

[yasx] 16/5/2024 15:14

Kenmitch,

Spot on.

[ashkv] 16/5/2024 14:38

Perhaps SQZ can find a buyer for Tailwind assets at 50% of what Mitch Flegg paid for them - share price would certainly go up if it transpires :)

[kenmitch] 16/5/2024 12:39

Buybacks not stopping the fall in the share price isn’t weird as buybacks favour those who want to sell as they have a willing buyer of their shares in Serica. Buybacks reduce the share count and increase eps but thst doesn’t unfortunately always mean a higher share price.

[davethehorse] 16/5/2024 10:26

Buy backs are not stopping the decline in SP, which is weird....who offloading into it then??

[croasdalelfc] 16/5/2024 10:07

Look at the last 5 days of trading : ~12 trades over 100k shares including a 250k and a 230k trade.

[croasdalelfc] 16/5/2024 10:03

Someone still offloading into the buyback - 100k here and there

[stemis] 16/5/2024 10:03

14p is just the final dividend. Total dividend for the year was 23p, so a yield of 12.8%. That's surely not sustainable in the long term. Either they'll cut the dividend (but the cost to the company is £90m so well within it's capability to pay) or the share price will rise. If the share price stays the same and they continue to pay 12.8%, it's hardly a value trap...

[wallywoo] 16/5/2024 09:35

When you have a 180p share price and a 14p dividend (xd 27/6/24), the market struggles to value a share. Is it a value trap, thinks the market?Hopefully we will get some drilling news soon. An awful lot of drilling going on for a smallish oil company this year.

[ashkv] 16/5/2024 08:42

Hopefully the new CEO can conjure up some razzle and dazzle - now that the numpty Flegg has been ejected.

Flegg has really done over SQZ - bottom surfing for the past few weeks!!! Should bow out of the pointless JOG project!!!

Allocate funds to outside UK!!!

UK is a dustbin for E&P investor money!!!

[davethehorse] 16/5/2024 08:34

Weird price action currently here, very volatile...?

[davidoff3] 15/5/2024 20:11

Does that explain the surprise drop in share price following the buy back? BlackRock seemed to use it as a chance to offload a load.

[dcarn] 15/5/2024 17:33

Sold some shares, and added to their spreadbet/CFD.

[sbb1x] 15/5/2024 17:22

Serica Energy (#SQZ) ? 181.2pBlackRock #TR1 5.33% (? 0.02%) 15/05 17:06 #RNS Holding(s) in Companylondonstockexchange.com/news-article/S...

[sbb1x] 15/5/2024 16:17

Brent red to green...

[davethehorse] 15/5/2024 12:09

No chance of that...they will increase it if anything..

[stemis] 15/5/2024 11:03

Hopefully the BOD of SQZ will take note.

Hopefully it won't...

[lonrho] 15/5/2024 10:34

Think vodafone cutting dividend had been announced previously.

[mrscruff] 15/5/2024 10:27

Vodafone today halved dividend and is up significantly. Hopefully the BOD of SQZ will take note.

[nigelpm] 14/5/2024 17:00

Copeland buying again - 19k

[davethehorse] 14/5/2024 14:31

Brisk trading today....feeling confident of a decent bounce in share price here soon...;-)

[hunter154] 14/5/2024 14:10

“Any association with Nostrum is poor form.”
Did the guy really mess up at this company?

[davethehorse] 14/5/2024 12:31

Juicy near 8% divi to be paid in July....why wouldn't he at this price....??