Serica Energy Share Discussion Threads

[ashkv] 03/7/2024 07:28

New CEO starting on a positive note with Director Buys!



London, 2, July 2024 - Serica Energy plc (AIM: SQZ), confirms that Christopher Cox, Chief Executive Officer, purchased 125,430 ordinary shares at a price of 135.5p per share in the Company.

Following this transaction, which is detailed in the PDMR Notification Dealing Form below, Mr Cox is interested in 125,430 ordinary shares in the capital of the Company, representing 0.032124% which is calculated on the total number of ordinary shares carrying voting rights of 390,457,635.

[swanvesta] 02/7/2024 16:52

£170k seems a reasonable sign of confidence:

[ct8637] 01/7/2024 09:01

New boss in the Chair today. Let's see how he rearranges the furniture and what ideas he has. A nice big director buy would send a signal that he's on side and will be working in the shareholders interests. GE this week, hopefully labours disaster is already priced in so there won't be any shocks aside from the sentiment on the day. Chart doesn't look great but there's good value to be had down here over the medium term

[sawney] 30/6/2024 15:01

Nothing is EVER priced in on AIM....I vaguely remember one or two oil minnows way back...being worth more in the cash they held, than the share price was...

[cat33] 30/6/2024 13:02

Latest on Serica from Jimhttps://oilman.beehiiv.com/p/oilman-jims-letter-june-30-2024Worth reading

[arlington chetwynd talbott] 29/6/2024 13:30

You would think it is priced in. In fact that sounds like the consensus here, which automatically makes me wary. I would rather wait and see. Why rush into anything on AIM? If I miss out here there will be other opportunities - or I can just buy more PTAL.

[kenmitch] 29/6/2024 12:54

Arlington.

The election result is already priced in to oil shares like Serica, as markets look ahead and know a Labour win is a near certainty.

What isn’t priced in is reality hitting once Labour are in power. Current Labour (Ed Milliband led) North Sea policy is nonsensical and will cost thousands of jobs and £billions in lost revenues and taxes and will widen our trade gap even further.

How long before pressure from vested interests forces a Labour Government to come to its senses? Not long is my guess. Then there could well be a reversal of the barmy no more North Sea oil and gas licences policy. That would see Serica’s share price go up significantly. But if Labour stays as stupid then that’s already priced in to the Serica share price. And Serica have already made it clear that they would then look overseas instead…..again a potential share price booster.

btw…exactly the same applies to the Labour deadline of going back to no more petrol or diesel cars nonsense by 2030 and huge fines for Companies not selling enough electric cars. Car Manufacturers hit by that will simply move their production to sensible Countries. At least the current Government woke up to the folly of that so soon 2030 date.

Perhaps someone could tell our politicians that the UK is responsible for less than 1% of the pollution that has lead to these crazy policies.

[adejuk] 28/6/2024 13:42

nice entry share price

[heialex1] 28/6/2024 12:19

Like Serica, buying on an exaggerated x div day can be sensible. This should trend up over the next weeks

[ashkv] 28/6/2024 11:01

Treatment for this hopeless twisted sad soul who used to OCD stalk the Trinity Exploration board!!!

Was stalking me on the JSE board and has now popped up here!!! Get a life bud....

Going forward ->

Arlington Chetwynd Talbott28 Jun '24 - 08:46 - 6582 of 6583 (Filtered)

[squareloss] 28/6/2024 08:47

A takeover of JSE is a fair shout, they are also massively undervalued after some unfortunate operational issues with Montara. Makes sense to diversify away from the UK, though might be good to wait just in case Nigel rides in to the rescue of our once Great Britain...!

[sawney] 28/6/2024 07:06

Prior to the Labour fiasco being published...apparently the Unions wouldn't sign off on it because of the catastrophic effect on North Sea jobs...doesn't look like they won the day...or maybe Eddy's original Plan was even worse...?

[sageofonion] 28/6/2024 06:34

No point publishing yet another article in the Times or the Telegraph. Companies like SQZ need to make sure trade unions are aware of the huge impact on jobs if things don’t change. That’s the only to influence Red Ed Moribund.

[creditcrunchies] 27/6/2024 21:43

There isn't a bargain with a falling knife the only positive is a potential dead cat bounce from a long term decline from 450p to 100p after a disastrous deal two years ago.

[brucie5] 27/6/2024 19:07

Kenmitch 27 Jun
—------------
Thanks Ken, Good to hear from you.

[ashkv] 27/6/2024 17:59

I should have averaged down at low 140s prior to ex-div!!!

Agree SQZ is undervalued!!

Also Net Payout Yield Including GBP 15mn recently concluding buyback is 20% including 17% Dividend (24p) plus Buyback

Net Payout Yield = Dividend + Special Dividend + Buyback!!!

Perhaps SQZ will buy Jadestone Energy -> 23,000 boe/d of Asian/Australian low tax high profit production going forward and a measly Enterprise Value of US$282million - also has a compelling mega gas project in Vietnam in the hopper.

Around 600mn decom costs but long dated / and easily managed!!!

[mariopeter] 27/6/2024 17:16

I do like the Chairman's statement. Ireland too has turned it's back on indigenous gas but hoping that will change after their oncoming general election. Utter madness. Mercuria will want to change things around if Labour persist.

Longboat's share price reacted very well after they ditched high tax Norwegian assets for Asia.

[ct8637] 27/6/2024 17:16

It'll go back up, eventually. Generating large sums of cash and profit. New CEO in a few days and potential M&A activity. Short term though there is a large seller that's adding downward pressure so it'll drop more. Average down. Unless you're already retired and living off your SIPP I'd say this is a fairly safe bet long term. It's in my SIPP too, but I don't need it for another 30 odd years ha

[kenmitch] 27/6/2024 16:59

SQZ looks a stunning bargain after the relentless share price fall. There’s even a good chance they can maintain the dividend and the yield is 17% at the current price. Even if they have to halve the dividend, 8.5% is still a good yield.

Current Labour North Sea policy is nonsensical as the Chairman made very clear in his AGM statement. New Governments soon have to face reality and that often means manifesto and pre election plans getting ditched. And it’s not impossible that Ed Milliband will get ditched too. It’s the same with the ludicrous huge fines for car Companies failing to reach electric car sale targets. They too can move production overseas to Countries less stupid.

I averaged down today (down 20% excluding dividends) because SQZ can and will if necessary change tactics as Harbour (I hold) has and look elsewhere instead of UK IF Labour are stupid enough to decimate our North Sea oil industry with all the job losses that would mean, on top of the huge loss of oil and tax revenues.

Note the very last sentence from this section of the Chairman’s comment today:-

“Over just a few years Serica has been transformed from a small international exploration focussed company into one of the top 10 producers in the UK North Sea, safely and responsibly operating complex facilities offshore and growing its 2P reserves some 35 times since the beginning of 2015. To deliver these achievements we have navigated operational challenges, oil and gas prices hitting historic lows - remember gas prices of 10 pence a therm in May 2020 - and pulled off multiple good acquisitions. With the assets, financial strength, staff and leadership now in place, we have a very solid platform for entering the next phase of growth."

"We are rightly proud of our track record of growth and value creation, and we aim to repeat the same in the future. Unfortunately, recent and potential future increases in UK oil and gas taxes make that increasingly difficult. Consequently, while we remain watchful for opportunities in the UK that might be attractive despite this increasingly challenging context, we are also looking very actively overseas."

[davethehorse] 27/6/2024 16:57

What an absolute sh*t show here