Serica Energy Share Discussion Threads

[bountyhunter] 20/5/2018 09:03

Re Rhum the UK does need our 5% of the UK's gas supply from that NS field though rather than importing it from say Russia which would surely be a far worse option. It may be that IOC own the other half of the field but that doesn't mean abandoning our 50% of gas production especially as in UK waters. BP will be getting shot of their half of Rhum as part of the BKR package post Deepwater Horizon due to BP's US interests and connections not applicable to SQZ.

[bountyhunter] 20/5/2018 07:40

Yes it's a a bit convoluted, but a UK company signing a new contract with Iran post sanctions is the significant bit of course.

"Iran has signed an agreement with a British consortium to develop an oil field, in the first such deal with a Western firm since Washington announced it would exit the nuclear deal and reimpose sanctions on Iran."

...

"The $1 billion Pergas project would use advanced technology and processes to increase production over the next decade from the aging Karanj field to 200,000 barrels of crude oil a day from 120,000 barrels currently."

[dunderheed] 20/5/2018 00:04

Ah right onky read the 1st two para the first-time now for to about the 5th. It appears just to be enhancement of reservoir and recovery services.
Still very interesting that they have jumped straight in? I suppose not any real investment so they can walk away any time on relative short and quick notice?!

[dunderheed] 20/5/2018 00:00

Pergas are just a services company?
So this is a contract for and on behalf of the JV?

[nigelpm] 19/5/2018 23:11

It was also signed on Wednesday so if any UK listed company was involved they'd have RNS'ed on Thursday most likely.

[nigelpm] 19/5/2018 22:55

err lads - it's Pergas - that's the identity - the one mentioned in the article!

hxxps://www.pergas.co.uk/

[dunderheed] 19/5/2018 22:22

I know, very interesting.
I suppose that it could be partially debt financed?
Can't see premier taking on any more?
No doubt we will hear identity on Monday?!
It must have been being worked up previously so wonder if it is sia, they've been talking up new BD for what seems like an eternity?!

[bountyhunter] 19/5/2018 22:19

just read it again in more detail, Pergas is the consortium based in London;

more here...

[bountyhunter] 19/5/2018 22:14

Yes can't be a UK company with any US connections whatsoever imo so that would rule out most if not all large companies.

[dunderheed] 19/5/2018 22:04

Blimey wonder who that is?
Can't be a biggie?
I'd have said someone like Cairn if they had the cash but they don't.
Real left side sia, but they don't really have the cash either?
Any other suggestions?

[bountyhunter] 19/5/2018 21:53

Iran signs oil deal with UK group as France's Total exits
By THE ASSOCIATED PRESS

[fardels bear] 19/5/2018 14:58

We do know we're being brainwashed, gersemi. We see it every day. Perhaps not on here though..

[steelwatch] 19/5/2018 13:55

Machine translation

The recent US sanctions against Iran have now shown their impact on the offshore market in the North Sea," said a recent update of the shipowner Westshore Shipbrokers.

The brokerage house shows that BP's planned relocation of Fred. The Olsen rig "Blackford Dolphin" was put on hold just before the weekend when BP UK is a partner with the Iranian state-owned company NIOC.

Back in 2016, the two companies received a license from the United States to operate their common gas field in the North Sea after the sanctions from the West were lifted.

"This license will no longer be valid when US President Donald Trump announced last week that the United States will withdraw from the nuclear agreement with Iran and implement" powerful economic sanctions with full effect ", writes the brokerage house.

With the Fred.Olsen rig in peace, (stacked?), it can be a quiet week for the anchor handling vessels, according to Westshore.

[dunderheed] 19/5/2018 13:36

sawney thanks for posting about vessels always appreciated matey.

[sawney] 19/5/2018 13:24

thanks for that pineapple1 re 7411...basically how I also see it... the queue for waivers must be quite long...

[bountyhunter] 19/5/2018 12:58

missed that,

what are you sorry for FB,
... cup final should be more entertaining

[steelwatch] 19/5/2018 12:49

Gersemi - keep that sort of bile away from this board.

[fardels bear] 19/5/2018 12:23

Sorry, Bh...

[fardels bear] 19/5/2018 12:21

Commiserations, Dh... I'm on a sunbed in Ayia Napa...

[pineapple1] 19/5/2018 11:46

I'd guess that BP may be reluctant to engage in the well intervention with sanctions in place irrespective of the time line for actual implementation suggested by Trump.
BP will wish to appear whiter than white
Perhaps they are waiting for greater visability re the SQZ waiver ???
I would not be surprised to see completion of the deal put back to Q4 as things will be a little clearer and we will have likely seen the US response to other waiver applications of which there will likely be many.
imho

[dunderheed] 19/5/2018 11:05

FB - it's the crystallising of the sale quote that matters.
I've often had quotes like that then when you press the buy button it comes back at 16.125p etc lol!!
However in those circumstances that would be brilliant now - with hindsight!
This aint a bull trap imho - there was what looks like about 5mill (worked) buys yesterday?
Just my opinion though of course.
BH, IOC would have to pay their 50% of the cost of drill I assume? This could be offset against any income in escrow account but it does get messy etc because I assume they will have some veto or vote power in the JOA of sorts? As I have not seen the JOA really just my opinion don't forget.