Serica Energy Share Discussion Threads

[whiskeyinthejar] 30/5/2018 14:10

Bh, what's the matter with you ? Is that the rule, everyone must declare their position because you say so. Sorry, but haven't seen anyone here doing that. I don't care if you declare when you are out. I don't see why I should.

It's only traders who announce when they buy and sell. Im not a trader and I don't short. Hmm,wonder why Im posting here.


What you want to to do is undermine me by claiming i don't hold. But what Ive said is verifiable. How many shares people own here isn't verifiable. Lukoil HAVE decided not to go ahead with plans to develop projects in Iran. Saying so is hardly being negative, it's factual and it's barely relevant to Serica.

[fardels bear] 30/5/2018 13:47

You tell him, bh.

[steelwatch] 30/5/2018 13:27

fanshaw - based on the last 2 years, the company could post the notice tomorrow.

[bountyhunter] 30/5/2018 13:19

WITJ, yes as I said Lukoil, a considerably larger company with more widespread interests than Serica, are freezing plans for development work in Iran rather than 'with Iran' ("it had decided not to go ahead with plans to develop projects in Iran") which is rather different than to continue with one's share of existing production in UK waters (5% of the UK gas supply which would have to be replaced by imports from say Russia?).
I take your statement to be 'interested' in Serica to be deliberately obscure and note that you give the normal reason for not wishing to admit that you don't hold currently when posting negative posts. When I was out I declared this when asked. Negativity without declaring your position wrt whether you hold or not (not 'how many' 'where you live' or anything 'personal') when asked is rather obvious.

[whiskeyinthejar] 30/5/2018 12:18

bh, My interest here is in Serica. i never answer questions about how many shares i own, where i live or anything personal. It only leads to pointless ad hominen attacks. Im not interested in discussing anyones elses personal stuff either.

Anyway, just like the EU, Russia can also help companies avoid payments made in dollars. But Lukoil are still freezing plans to work with Iran. As are others.

However as you say, Sqz aren't planning on investing in Iran. Sharing a Uk oil field with Iranian company seems like a more minor misdemeaner. So the thing to avoid is being black listed by the US, but I don't see that happening. The field is operational, I think they just need to decide what happens to the revenue.

[fanshaw] 30/5/2018 12:13

any posters know when AGM should be,its normally end of June.

[bountyhunter] 30/5/2018 11:25

WITJ, I think you missed the point I made that "Lukoil had plans to develop projects in Iran" and also you didn't answer my question so I assume you are not currently invested here although you are of course not obliged to say. To be transparent I have previously declared my limited interest here, although as with DH it won't change my life whatever happens due to the diversity of my investments.
Re currencies the EU has already announced arrangements to pay for Iranian production in Euros rather than USD if required as the EU are still honouring the deal with Iran.

[dunderheed] 30/5/2018 10:56

Yes and of course there are treasury waivers for certain Iranian crude oil sales.
'They' don't want to keep on pushing this petro-currency 'position' because Russia / China and to a lesser degree India have for a long time championed crude purchases in non USD currency.
There is a tipping point and if half the world's crude products start to move away from USD...
Once that happens USD starts to weaken (plus their respective (massive) debts) and we have Armageddon on our hands lol!!

[whiskeyinthejar] 30/5/2018 10:49

bh, Lukoil has no US operations. But the dollar is the worlds reserve currency. It's the US banks who enforce sanctions. Most big companies will have doings in dollars.

But I agree with Dunderheed - something will be worked out.

[dunderheed] 30/5/2018 10:47

Guys sorry also don't forget don't take my words as of being any particular substance. I'm just another anonymous free bb punter but, the difference being (I think) is I never invest more than I can afford to lose - so when I say - "oh we should get a deal, I'm not that worried" - the world aint going to end for me if we don't as well!
Best of luck all!

[dunderheed] 30/5/2018 10:43

Yes I apologise if I wasn't clearer.
Whilst I think the level or amount of services that are still 'American' is likely very small - these are likely to be the most problematic to re-allocate (LOL!), however I would be very surprised personally if this deal does not go through and something is not worked out?
Was it the Elgin project where the cap and secure was used?
I cant actually remember but I thought they also had two rigs working on it at once - one to kill and one to divert plus the cap and secure - or they may not have bothered with the cap and secure?
All imho and dyor of course.

[bountyhunter] 30/5/2018 10:28

Cheers DH, good to hear your views on this.

WITJ, but Lukoil may well be in a similar position to BP given their scale, SQZ of course is a much smaller purely UK producer with no plans to develop projects in Iran (ref Lukoil) and also has no interests in the US. Are you in this one or just monitoring?

[whiskeyinthejar] 30/5/2018 10:21

It's not enough to be non-American.

Lukoil are Russia’s second biggest oil company. But yesterday Lukoil said it's putting all it's Iran plans on hold due to threat of U.S. sanctions.

[sawney] 30/5/2018 10:20

Thanks for that...

O/T ...IOG look interesting but don't they have to raise quite a bit of dosh soon..?...ie dilution..?

[dunderheed] 30/5/2018 09:36

I personally think it is very few services that they cannot cover with non American companies? Also as I say, I am not sure the American companies will thank Trump for this, because the business is still difficult and new entrepreneurial companies from competing countries will turn up very quickly! Re the capping device, this is controversial imho. It is bloody expensive and not very good ‘value’ for the smallies who drill intermittently. There is a lot of argument that it is economically more sound to drill quick deviation well with the time and costs involved with mobbing this big equipment?
Didn’t Total use this on their gas field in N Sea? Then had to drill deviation well at the same time? I think this facility is good for the larger oil companies but maybe a little prohibitive for the smallers?

All imho of course!!

[bountyhunter] 30/5/2018 09:11

o/t CLNR is off again :-)

[sawney] 30/5/2018 08:47

I'm not referring to cover for drilling a new well which can wait

Sorry..in truth WTFDIK, but yes anything is possible...I'm sure they'll wangle it somehow..

[rogerlin] 30/5/2018 08:36

Time we heard about the Rowallan rig? Perhaps ENI can find a more modern one than the Dolphin (1974).

[bountyhunter] 30/5/2018 07:54

sawney, I'm not referring to cover for drilling a new well which can wait, I'm just thinking of maintaining existing production from Rhum with insurance cover from a non US company if necessary as must be obtained by some other countries as not everyone is dependent on the US

what exactly on p1 rules out steel's possibility?

[sawney] 30/5/2018 03:32

Which counts them out....see page 1

[sawney] 29/5/2018 22:19

sawney - it would be pretty heartless for the US not to assist UK personnel if necessary in the unlikely event of such an emergency then (if beyond more nearby expertise) license or no license, Trump's popularity would hit rock bottom

You're wrong, this is all about having sufficient insurance cover. If you were drilling an HTPT well, would you risk your insurance cover...?

[bountyhunter] 29/5/2018 22:12

very nearly did the same with CLNR a while back now sawney, fortunately didn't quite hit the sell button as I couldn't get the price I was after; CLNR is a very big gamble imho but could be a multibagger given the size of the potential gas reserves especially if they manage to get a larger partner involved - a long way to go yet though and progress there seems painfully slow; today's rise was on the back of a press article following their 30th licensing round successes last week

...roll on Rhum, more than a pipe dream I hope ( that's IOG :)

[sawney] 29/5/2018 22:08

No....for once I am not a LTBH...(I sold CLNR too early, but c'est la vie, I made a small profit), bottom line is I'm not willing to put up with the vagaries of the the AIM market...soon as I see those AHTS's towing the BD to Rum then I will be back in....