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SQZ Serica Energy Plc

188.50
3.90 (2.11%)
28 Mar 2024 - Closed
Delayed by 15 minutes
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
  3.90 2.11% 188.50 187.80 188.00 190.20 184.00 187.00 4,948,209 16:35:29
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 812.42M 177.8M 0.4578 4.11 730.09M
Serica Energy Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker SQZ. The last closing price for Serica Energy was 184.60p. Over the last year, Serica Energy shares have traded in a share price range of 166.00p to 271.00p.

Serica Energy currently has 388,345,933 shares in issue. The market capitalisation of Serica Energy is £730.09 million. Serica Energy has a price to earnings ratio (PE ratio) of 4.11.

Serica Energy Share Discussion Threads

Showing 15326 to 15348 of 35000 messages
Chat Pages: Latest  620  619  618  617  616  615  614  613  612  611  610  609  Older
DateSubjectAuthorDiscuss
22/5/2018
10:14
...watching CLNR re that closely, will maybe put me back in the money there finally!
bountyhunter
22/5/2018
08:57
30th Licensing round announcements tomorrow....
sawney
22/5/2018
07:53
You keep away from that post bh!!
dunderheed
22/5/2018
07:48
Lol DH, less nervous about SQZ than hitting post 7500!

Good holding RNS overall, Sept 30 is my guess for completion. US won't want to upset UK and force us to buy that 5% from Russia instead imho. A compromise could be reached with IOC monies held in an escrow account again as a condition of the continuing of the US licence with SQZ rather than BP.

Should know more by post 7777 :)

bountyhunter
22/5/2018
07:33
Iran nationalized BP interests there once upon a time.
rogerlin
22/5/2018
07:19
7501 I was nervous matey, I was nervous! (About the 7500 post not the sqz share price I hasten to add!)
dunderheed
22/5/2018
07:18
damn it, should have made a post, going to be a volatile day !
;-)

bountyhunter
22/5/2018
07:13
Reserved for Saul
dunderheed
22/5/2018
07:12
And until nigel has bought back in, of course.
fardels bear
22/5/2018
07:10
I am very happy with deferment of r3. This could easily add a further 2% on deal value if deferred 6 months and if oil prices continue to rise.
dunderheed
22/5/2018
07:08
Yes, and the holding off on Rhum work is a negative - overall I'm content with the RNS but plenty of risk here until the OFAC is obtained.
nigelpm
22/5/2018
07:05
I read that as a continued delay as BP hold off work until clarity on the waiver, and no answer for a few weeks. The positive is they're still pressing ahead with the deal so enjoy the volatility but nothing changed from yesterday imo.
rathean
22/5/2018
06:59
Deal is still scheduled to go ahead and complete in the third quarter.

lol could be a brown trouser day for anyone short..... think I will buy a few more.

captainfatcat
22/5/2018
06:52
I thought I was filtered?
Not petty sniping Nige.
I didn't really pay much attention to your posts previously but I perceived you were a pretty serious, sensible investor type.
However most recent posts on here and on other boards make me think my first impression was wrong.
I think too often you don't 'keep to the facts', as you sanctimoniously ask others too (including asking moderators to ban) but, dress these up with opinion that also follow other 'hidden' agendas ie posting negative comments then, trying to buy back in at a potentially lower price?
I'd generally try and avoid shares that are significantly influenced by anonymous posters on a woefully formatted free bb, but wtfdik?
Either way all imho, I don't care and will continue to ignore you but, your two posts above couldn't get ignored. LOL!!

dunderheed
22/5/2018
06:39
Just my views - be good if others did the same rather than petty sniping.
nigelpm
22/5/2018
06:26
So you haven't bought back in yet Nige?
dunderheed
22/5/2018
06:18
I don't think you can assume that pineapple as the licence is still required for completion however it is good to see they are actively engaging with the authorities to get this done and I'm surprised they are still sticking to a timescale of Q3. My immediate assumption was that this would run into 2019. However they could just be acting overly optimistic at this stage.
nigelpm
22/5/2018
06:14
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.


I read it as it won't effect completeion of the deal .
Govt behind the waiver. Just can't see the US treasury saying No, irrespective of their change in policy.
imho

pineapple1
22/5/2018
06:10
.....The US announcement on 8 May is expected to result in a change of US policy in respect of the granting of OFAC licences.....
sawney
22/5/2018
06:09
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
20:27
...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
20:17
bit transparent
bountyhunter
21/5/2018
20:13
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
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