We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Serica Energy Plc | LSE:SQZ | London | Ordinary Share | GB00B0CY5V57 | ORD USD0.10 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
-3.40 | -1.65% | 203.20 | 204.40 | 204.60 | 210.00 | 204.00 | 208.80 | 2,100,099 | 16:35:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Crude Petroleum & Natural Gs | 812.42M | 177.8M | 0.4578 | 4.46 | 793.78M |
Date | Subject | Author | Discuss |
---|---|---|---|
22/5/2018 07:09 | Serica Energy plc ("Serica" or the "Company") Update on BKR Transaction, US Sanctions, and Rhum Operations London, 22 May 2018 - Serica provides an update following the announcement on 8 May by the US Government of its withdrawal from the Joint Comprehensive Plan of Action ("JCPOA") and the reintroduction of wider US sanctions on Iran and certain transactions with Iranian entities. On 21 November 2017, Serica announced its agreement (the "BKR Transaction") to purchase interests in the Bruce, Keith and Rhum fields in the UK North Sea from BP. These fields together produce up to 5% of the UK's indigenous gas production. Both BP and Serica remain fully committed to completion of the transaction, which is expected in the third quarter of 2018. Progress on the transition arrangements, under which Serica will take over from BP as operator of the fields on completion of the transaction, is on schedule. The Iranian Oil Company (U.K.) Limited ("IOC"), a subsidiary of the National Iranian Oil Company, has a 50% interest in the Rhum field. As a result of the interest held by IOC, Rhum operations are affected by US sanctions and, in particular, the new sanctions regime announced by the US government on 8 May. Certain services in support of Rhum field operations are currently provided under authorisations obtained from the US Office of Foreign Assets Control ("OFAC"). The current OFAC licence issued to BP enabling the provision of goods, services and support by certain US persons, expires on 30 September 2018. Applications have been submitted to OFAC by BP and Serica for a renewed licence beyond that date. Meetings are scheduled to take place with OFAC in the next few weeks. The US announcement on 8 May is expected to result in a change of US policy in respect of the granting of OFAC licences. Serica is working closely with BP and IOC to evaluate the potential impact of the changes. This includes seeking appropriate dispensation from the US authorities where possible and where required to ensure ongoing safe and efficient operations. Serica is working closely with and has support from the UK authorities on all aspects. As part of the evaluation process, BP, as the current operator of the Rhum field, has been reviewing operations scheduled to take place during the transition period, prior to the implementation of the new US sanctions. These include work to re-complete the Rhum R3 well, which was due to commence this week. To ensure that all operations can be undertaken to the highest safety and environmental standards during the interim sanctions period, BP has decided to defer the commencement of work on R3 while the position relating to US sanctions is being clarified. Serica and BP are both committed to resolving the issue of US sanctions as they apply to Rhum with a view to enabling a timely completion of the BKR Transaction in the third quarter of 2018 and safeguarding ongoing operations. The deferral of work on the R3 well, pending resolution of the sanctions position, is not expected to impact the long-term recovery of Rhum reserves, nor the completion of the BKR Transaction. Mitch Flegg, Serica's Chief Executive, commented: "As a British company working to maximise the full recovery of Britain's gas reserves in line with OGA and UK Government policy, we will be working with our partners and the UK Government to identify measures, acceptable to the US authorities, to protect safe and efficient Rhum operations and ensure maximum economic recovery of reserves from this valuable UK resource. We are receiving full support from all the relevant UK authorities in these efforts. All aspects of completing the BKR transaction remain on track: an Aberdeen office has been identified; key staff are being recruited by Serica; and the transition process of moving operational staff and contracts from BP to Serica is well advanced. All parties are working to see a successful completion". | pineapple1 | |
21/5/2018 21:27 | ...so what can Trump do about this UK company which has just struck a deal with Iran only a few days ago? ...or indeed all the other European and worldwide companies which are going to continue to uphold the deal and can now trade oil in Euros (obviously not multinationals with strong US connections such as BP who will now more than ever wish to sell Rhum on to Serica post Deepwater Horizon imo) ...and how would the UK government react to any interruption to the supply of 5% of UK's gas? ...buy it from Russia instead? Iran signs oil deal with UK group as France's Total exits By THE ASSOCIATED PRESS | bountyhunter | |
21/5/2018 21:17 | bit transparent | bountyhunter | |
21/5/2018 21:13 | Be honest Dunderheed I sold some time ago I anticipated this could happen I did mention it a few months ago the share price still looks perky at the moment,so good luck.I would only buy now when we know one way or another which way this will go. | tom111 | |
21/5/2018 20:49 | Tom111 I thought you were an (enthusiastic) holder previously? Me old memory may be failing me mate but if not, what's a occurring you looking to get back in lower matey? | dunderheed | |
21/5/2018 20:02 | Oh, forgot the "just sayin'".. | fardels bear | |
21/5/2018 20:01 | In the worst case theprofits will go in euro into an escrow account. Just like they did last time. | fardels bear | |
21/5/2018 19:48 | Where will the profits go to, its an Iranian co imo the profits will go back to Iran.They are doing business with Iran worse still its an oil co which is on the hot list,just stating facts as they are.Forgot to mention its a state owned co anyway | tom111 | |
21/5/2018 19:20 | Yes but that is prohibited business in Iran? | dunderheed | |
21/5/2018 19:17 | The speech by Pompeo tonight taking a very hard stance to anyone doing prohibited business in Iran which will pose financial and economic difficulties to some of US friends.Full speech on CNN NEWS on line | tom111 | |
21/5/2018 14:05 | FB - it's showing as moderated on the mobile app on my phone - maybe your entry was cached | bountyhunter | |
21/5/2018 12:27 | Expecting further upward pressure on POO as hurricane season nears (end of May) and US driving season ahead. Come on SQZ lets have some positive news Tick Tock | captainfatcat | |
21/5/2018 10:36 | Lets just say I think gersemi politics are probably a little like mine (personally crafted from working internationally in areas of political unrest / wars over the years and a very jaded view of the world / humanity but 'we' are in a good blessed place by virtue of a fluke, as to where we were born, (for the moment anyway), in the west!!) - but probably not best discussed on the SQZ thread and many apologies for O/T. | dunderheed | |
21/5/2018 10:28 | I saw it. Moderating it doesn't seem to remove it if you're using the advfn app..I'm a big boy, I could take it. | fardels bear | |
21/5/2018 10:23 | I would certainly vouch for gersemi in terms of many useful and interesting oil related posts in the past, in particular on my IAE thread prior to takeover. I didn't see the moderated post here, due to it being moderated :-) | bountyhunter | |
21/5/2018 09:16 | I would, with your permission, like to apologise unreservedly for my recent outpourings on certain issues. Specific company threads such as these are not the appropriate forum for such statements. My views can be perceived as rather robust Sincere and humble apologies G | gersemi | |
21/5/2018 08:35 | Ah ok. Thanks. Afraid we've just got to wait and see? Some operating info soon I think and they'll have to mention the elephant in the room? | dunderheed | |
21/5/2018 08:31 | ..just getting a tad pessimistic...(throu Should anyone get a look at that broker report...I'd love to hear the gist of it... | sawney | |
21/5/2018 08:24 | no one really knows though or we could all make a lot of money on oil futures | bountyhunter | |
21/5/2018 08:23 | What are you inferring Sawney? | dunderheed | |
21/5/2018 08:22 | ...a big call seeing as BP are talking future oil prices in the $50 to $65 range... | sawney | |
21/5/2018 08:21 | and the European stance on maintaining the Iranian deal - as I posted earlier their has already been one new deal between a UK company and an Iranian oil company post Trump's unilateral withdrawal from the deal | bountyhunter | |
21/5/2018 08:18 | Maybe the increase is on the back of rising oil prices. | captainfatcat | |
21/5/2018 07:52 | Mmmm....like to see that report, and why they are increasing their target all of a sudden, considering the current uncertainty... | sawney | |
21/5/2018 07:41 | Peel Hunt have this morning increased their target price to 129p (from 110p) and say Buy: | rivaldo |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions