Serica Energy Share Discussion Threads

[nicnic1953] 09/5/2018 10:16

Brilliant buying opportunity had no problem buying just over 6000 at 69.5 just after 8am through hl ....foolish sellers out there!

[fardels bear] 09/5/2018 09:56

I didn't say I wasn't happy for him to say it.

[pineapple1] 09/5/2018 09:55

I,m happy for him to be down right vulgar when it comes to discression about whats happening .........lol
Its always good to have someone who is close to the action

I remember on GPX many yrs ago there was a poster there called AGrazer who used to post the result of a drill b4 the market even knew about it.Quite happy to front run the market. The city do it more than enough to disadvantage private investors...
imho

[fardels bear] 09/5/2018 09:37

I'm soooo curious to know why our friend, and mine of timely information, almsivi is is a position to say:

"there's the distinct possibility that IOC might sell its share of Rhum on to Serica or another partner."

It's the use of the word "distinct" that I find partcularly intriguing. Is somebody being a tad indiscreet?

[fardels bear] 09/5/2018 09:31

We're a gas producer though, rivaldo.

[rivaldo] 09/5/2018 09:13

It's ironic that this happens on a day the oil price jumps because of Trump's actions on Iran.

The share price reaction certainly seems overdone, and an opportunity.

[carcosa] 09/5/2018 09:01

hxxps://financialtribune.com/articles/energy/78343/british-energy-company-eyes-iranian-oil-market

From December 2017:

"Asked about the impact of sanctions, the official said US trade restrictions do not necessarily impact their operations in Rhum unless the European Union and Britain also implement a snapback and there is no indication that this is likely to occur.

After being forced to shut down in 2010 when international sanctions were imposed on Tehran over its nuclear program, Rhum resumed production in 2013 when Britain agreed to set up a temporary management scheme whereby all revenue due to Tehran would be held until sanctions were lifted.

"Because of the Iranian involvement, Serica needs a license from the US Treasury's sanctions enforcement arm—the Office of Foreign Asset Control— allowing US nationals and companies to take part in the field's operations, especially providing heavy machinery," Walker added.

"The license was renewed in September, a month before Trump sought to reverse the US position on the nuclear deal with Iran. Serica will apply for its own license in the coming months."

Walker said the license is needed as a back-up in case of an emergency that requires US equipment and companies, though it's not a prerequisite to operate the field."

Well I bought back in!

[captainfatcat] 09/5/2018 09:00

BP will be lobbying hard to see this deal through the possible implications for their US operations should not be underestimated they will be highly motivated to make it work.

Its interesting to take a look at the scope of their US operations over the last ten years they have invested $90 billion in the US and in 2016 U.S. operations contributed $67 billion to the American economy and supported over 120,000 jobs across the US. 7000 plus retail ,wind farms, Shipping, BP operate thousands of miles of pipe work across the US.

[marvelman] 09/5/2018 08:57

Indeed Ross...better no RNS than one sure to encourage selling as that one did.

[rogerlin] 09/5/2018 08:54

Perhaps IOC might like to sell their stake in Rhum?

[almsivi] 09/5/2018 08:46

Massive opportunity to load up and this is not a pump, just a reflection of the truth. Firstly, the closure of Bruce was a result of UN and EU sanctions, something which the USA alone has no bearing on. Secondly, a contingency plan was enacted to allow BP to operate Rhum with the IOC share kept in a slush fund until sanctions were lifted. Third, there's the distinct possibility that IOC might sell its share of Rhum on to Serica or another partner. If that happens, it'll make November's rise look like a molehill.

Strong buy below 65p

[bountyhunter] 09/5/2018 08:32

yes DH it would be too ironic to contemplate if the US tried to force the UK to substitute Russian gas for that 5% from BKR! an exemption was obtained when the UK was directly involved in sanctions prior to the deal which we are still party to so the worse case should be the escrow account ready as a back up I would think

[rathean] 09/5/2018 08:24

I'm back in, over reaction to what is a typical Trump negotiating tactic. Oil price alone should see this recover and settle back in the 80s imo.

[dunderheed] 09/5/2018 08:23

Hang on guys. We actually havent a clue what it means?!
Let's just wait and see because the us 'may' try and 'punish' companies who work against their o&g sanctions to Iraq.
In our favour is the fact that this isn't directly helping the o&g industry in Iran and we can hold the money in escrow?
Also this field currently at least 5% gas to UK and hopefully higher after r3, so really the us woudnt want to 'hurt' an allies gas supplies so specifically via a by vicarious connection with Iran ?
I hope anyway!!
Whilst I was pretty underwhelmed by the sqz rns I suppose it was the best response as like ourselves really need to step back and analyse exactly the impacts of these sanctions!!
Best of luck all.

[sawney] 09/5/2018 08:21

Can imagine the UK Government would lobby very strongly to avoid losing 5%...

[reallyrich] 09/5/2018 08:12

It really only affects equipment or specialist staff.

Highly unlikely to affect sqz. And as someone said it supplys approx 5% of uk gas.

Good time to top up

[bountyhunter] 09/5/2018 07:24

absolutely pineapple, should be already factored in to some extent

[pineapple1] 09/5/2018 07:23

Its been common knowledge since the deal was announced that Trump would reintroduce sanctions. Its not a surprise and preperations for that event have been on going hence resignations of executive US personnel months ago and reduction in reliance on the use of US companies and personnel upstream.
The share will take a dip of course.
imho

[bountyhunter] 09/5/2018 07:23

BP & SQZ should be able to get that escrow account provisionally organised again by then as a contingency especially as we are talking about 5% of the UK gas supply

[bountyhunter] 09/5/2018 07:20

even US companies directly affected have 90-180 days to get this sorted

[bountyhunter] 09/5/2018 07:16

good that they have said something straight away, shows they are on the ball, no doubt will be talking to BP to work through this as BP have been through worse before and still been able to continue full production even when the UK were involved with sanctions by means of the escrow account for Iranian proceeds

[yellowdog] 09/5/2018 07:10

Didn't see that one coming!!!