Serica Energy Share Discussion Threads

[dunderheed] 02/5/2018 11:32

Ok matey I'll sign into me laptop some time today.

[chestnuts] 02/5/2018 11:29

Dundheed I have sent you a personal message

[dunderheed] 02/5/2018 11:26

6888 yes patiently accumulating imho.
6889 thanks steel.

[steelwatch] 02/5/2018 11:21

A mention for Rowallan in this:

[captainfatcat] 02/5/2018 11:16

"Dunderheed 2 May '18 - 10:47 - 6883 of 6886

CFC am I imagining a buyer hoovering the sells?"

That makes two of us then, I reckon its been going on for some time now. They are doing a great job of patiently hovering up sells while being careful not to chase the share price up, nice trading.

[steelwatch] 02/5/2018 11:13

Just to clarify, in addition to the £12.8m Initial Consideration payable on completion - anticipated mid-2018 - expected to be covered by interim net cash flows from the acquired assets:

there will be £16m further consideration payable if Rhum R3 well achieves minimum production threshold (January 2019)

and up to a further £23.1m payable in three annual instalments subject to Rhum field production and realized gas sales prices via instalments up to £7.7m each following end of 2019, 2020 and 2021 with payments reduced if incremental field production and gas prices do not meet certain thresholds

[dunderheed] 02/5/2018 11:10

When chesty?
Is that for the cycling?
Peebles is a lovely town.

[nigelpm] 02/5/2018 10:57

Also read the note. Thanks gnome. Perhaps they have spoken to the company about it. I agree it looks wrong unless they have been given access to something we haven't.

[chestnuts] 02/5/2018 10:54

Dunderheed

Just booked a week up in Peebles , do you fancy meeting up for a Pizza in Edinburgh or even in peebles.

[dunderheed] 02/5/2018 10:45

I think we nay understand the same thing?
The BP deal as I understood it was 'split' between a capital element payable, determined by various performance deliverables (amortised to p&l) plus a 'royalty' share which is in effect a reduction in revenues and hence an expense?
The two combined costs will arrive at a profit which will then be offset again t bf losses?
I did not recognise the revenue profiles on the Cantor nite either due to various possible assumptions made or missed by the analyst concerned?
All imho of course!!

[captainfatcat] 02/5/2018 10:41

I get the feeling the share price is going to move up quickly once we see a little more action on the buy side.

PS I also agree BP will be sending a very big chunk of cash SQZ's way on completion of the BKR deal. As we are now in Q2 this will be in the NEXT quarter..... the clock is counting down and the window of opportunity must surely be narrowing to get in below £1

Tick Tock

[pineapple1] 02/5/2018 10:07

Guesstimates vary of the amount that will be paid by BP on completion but if oil remains in the $60,s or higher and the BKR field continue to produce in the 16-20k per day range ,then our share of FCF over 9months is going to be a great deal of money indeed.
imho

[dunderheed] 02/5/2018 10:04

Apologies chesty not sure I follow?
I cursory read the income and production profiles cantor was showing a few days ago and thought they weren't realistic and that was what I was commenting on plus agreeing with piney interpretation of contract at the same time?
Are you saying cantor interpretation is correct or further wrong because, they didn't realistically estimate potential upside profiles of Erskine and the timing impacts of the corporate income tax credits as well?
As far as I was concerned it was 'inaccurate' in a number of places, as often seems to be the case for many brokers, hence don't look too closely at the figures but take the spirit of the message which seemed positive?!
All imho of course!!

[dunderheed] 02/5/2018 09:39

Agree and doesn't surprise* me.







* well actually it does, I constantly am surprised at various shoddy broker notes on many companies, that simply haven't spent more, than what looks like, 5 minutes research!!


All imho.

[lord gnome] 02/5/2018 09:36

Yes, that’s the way I see it. I think Cantors may have got it slightly wrong.

[dunderheed] 02/5/2018 09:34

Agree piney.

[pineapple1] 02/5/2018 09:32

My understanding is that SQZ pay BP 12M when the deal completes in Q3.
However all income from the BKR fields are attributable to SQZ effective Jan 1 2018.
So the likelihood is that on the completion date BP will hand that large wad of cash to SQZ which is likely to be far in excess of the 12M that SQZ will simultaneously pay to BP.
imho

[spandy83] 02/5/2018 07:31

Isn't that true chesty? While the deal backdated to January, doesn't any income earned up until that point effectively form payment towards the deal (which is why we aren't parting with any cash for the deal)?

[chestnuts] 01/5/2018 22:08

The Cantor Brokers note look like they have made a mistake on 2018 income it looks like they think they only get the income after the deal completes

[spandy83] 01/5/2018 19:53

I voted :-) I'm very happily surprised at how resilient this has been since the minor bad news... do people reckon stake building going on? Trading does seem to suggest so...

[dunderheed] 01/5/2018 12:51

Thanks sawney mate.