Serica Energy Share Discussion Threads

[fardels bear] 20/6/2018 13:25

We won't get news at the AGM that has not previously announced by RNS. In my experience AGMs are always an anticlimax.

[riot2] 20/6/2018 13:20

I think we will get an update very shortly. Imagine the AGM next week!

If its escrow account for the IOC share, it worked previously and will work again, so be it.

And thats when there were worldwide sanctions.

[bountyhunter] 20/6/2018 12:45

and that pesky BKR deal ;)
might raise the floor

[riot2] 20/6/2018 11:27

Hi Sawney.

Dana applied for their Arran development on the 20th April of this year.

Hence becoming the preferred route for Columbus.

It spreads risk from that pesky Lomond pipeline. Which they are sorting out atm for Erskine!

[fardels bear] 20/6/2018 11:25

Read this one:



Dana application to develop Arran dates April 12th 2018.

[sawney] 20/6/2018 11:17

..Mmmm...seems a little odd....

...especially in view of this from the annual report...

Final commitment to this offtake route and submission of an FDP in the timetable
required by the OGA is, however, dependent upon the Arran field owners committing to
development of the Arran field in the timeframe prescribed by the OGA. If the Arran
development does not proceed as planned, Columbus cannot be developed through
Shearwater on a stand-alone basis. The selection of this route has been made
conditional on that decision being made to the satisfaction of Serica. Therefore,
discussions on commercial arrangements will continue with the Lomond field operator, in
the event that the Shearwater option does not mature in the requisite time frame. The
Lomond option has been engineered in detail and is capable of being fully implemented.</>;

[dunderheed] 20/6/2018 10:19

TBH surprised they didn't RNS this but I suppose exactly as previously indicated / forecast however all good news anyway!

[farmscan] 20/6/2018 10:16

www.energyvoice.com/oilandgas/north-sea/174683/serica-applies-to-develop-columbus-field/

[nigelpm] 20/6/2018 09:30

Snippet:


Columbus, 50% owned and operated by Serica, will be connected to a proposed pipeline between the nearby Arran field and Shearwater.

The field is thought to be capable of producing 12.6 million barrels of oil equivalent.

Production start-up is slated for 2021.

Serica previously said it would submit a development plan to the Oil and Gas Authority by the end of June.

According to a public notice in today’s Press and Journal, Serica has now reached that milestone.

[nigelpm] 20/6/2018 09:30

Positive news :

hxxps://www.energyvoice.com/oilandgas/north-sea/174683/serica-applies-to-develop-columbus-field/

Would expect an RNS in due course.

[riot2] 20/6/2018 08:44

So Columbus update and offical application to develop the field. Is being sought.

Hopefully the funds will be coming from BKR cashflow. Everyone dying to see the update on BKR progress and with both companies, OGA and UK government wanting to get this sorted out, I think we will have a positive outcome.

Of course the board options recently awarded, for completion of the deal, and then performance related thereafter + no notifiable holders selling, inc one ex director - seem to point to confidence of a positive outcome.

Lets see if we get sth pre-agm

[bountyhunter] 19/6/2018 17:39

agreed, getting on with the US is the best policy allowing us maximum leverage when there are differences

[sawney] 19/6/2018 17:10

Difficult to see any update before July 13th when Trump visits....meanwhile May is not doing herself any favours by implying criticism against Trump and his immigration policy....

[captainfatcat] 19/6/2018 16:41

lol @ the UT a trade for 19 share @60.40p the lowest volume trade and lowest price paid all day.

[farmscan] 19/6/2018 16:00

Repeat post

[farmscan] 19/6/2018 16:00

And BP will definitely want to get rid of Rhum.

[fardels bear] 19/6/2018 15:55

We need considerably more than 100% of what the North Sea produces though, don't we?And there's the rub.

[captainfatcat] 19/6/2018 15:54

BH yes exactly UK denied gas supply in its own waters by the US can you imagine the uproar in parliament.

Trump causes British families to freeze 2018

[bountyhunter] 19/6/2018 15:44

even more of a bloody nose for Trump then if the UK was denied that proportion of it's Gas supply from UK waters because of US policy; also by Sept 30 we will be approaching the winter season when we need 100% of our NS Gas

[riot2] 19/6/2018 15:33

Nearer 10, i believe.

[dunderheed] 19/6/2018 15:30

5% + with R3 in operations?

[riot2] 19/6/2018 15:20

The reward could be big. 150p after cashflow confirmed in results, after R3.

Downside protection at 30p.
No debt lots of cash.

The field will produce, shut in will damage it and the treausry/OGA wont want that, all that lost.

So a solution will be found.
Does it matter who operates it.
Both want the deal through.

How about Sqz take the Ioc half too?? $200m seem fair?

[bountyhunter] 19/6/2018 15:19

I agree, the UK can't do without 5% of it's Gas supply and it would be extremely bad publicity for the 'special relationship' if it was ever cut off as a direct result of Trump's unilateral US policies and we had to import it from say Russia instead.

[riot2] 19/6/2018 15:04

So whats the options here?

Waiver ok'd

If no waiver use european contractors

If not then escrow account

The UK need the gas flowing regardless of who the operator is.
The field was restarted as a prolonged shut in would deteriorate the wells/recovery.

Does it matter who the operator is? I think both have an appetite to get this deal completed.

Agm next week, so lets see if we get an update.

[bountyhunter] 18/6/2018 20:07

might come in handy to check the pipeline rerouting and activity when they get round to drilling the Rowallan Prospect