Serica Energy Share Discussion Threads

[fardels bear] 10/7/2018 12:40

You'd think so, wouldn't you.

[riot2] 10/7/2018 12:39

The last RNS states that BP, with the support of Sqz, and the UK Government are in talks with the OFAC with regard to securing the waiver.

Seems its only for the subsea equipment and nothing else.

Perhaps Almsivi can confirm.

Im sure the RNS supercedes anything agreed on advfn :)

I really think a solution will be found, including nationalising the IOC stake.

I cant forsee it being shutdown. 5% of UK gas, 10% after R3.

Previously BP said Bruce would be decommissioned if Rhum was shut in any longer as irreversible damage would be done to the well.

We are also talking 100's of jobs.

Also BP are after BHP's US assets.

Seems like a win win all round.

[fardels bear] 10/7/2018 12:37

pineapple1 - 11 May 2018 - 11:31:41 - 7240 of 8068 Serica Energy - SQZ

fanshaw.......i believe although not certain that the waiver is issued for the Rhum field itself and the name of the company that operates it as secondary.
Any new waiver will be applied for once again for the Rhum field but with SQZ as the operator.
What i,m attempting to say is that this should be considered an existing business for the purposes of sanctions waiver. I stand to be corrected, however that was the interpretation.
Apparantly a new waiver cannot be applied for Rhum until 60 days before expiry of the current waiver which expires Sept 2018. So time to sound out the US treasury dept and i guess BP ,the Govt along with SQZ are in contact currently.
If Rhum is declined and by default SQZ are turned down then so will BP i would imagine. .Can i imagine the field being shut in again like previously after operating lately with a waiver to operate . Not the way i see it playing out.
imho

[bountyhunter] 10/7/2018 12:34

agreed riot, that makes sense to me

[fardels bear] 10/7/2018 12:32

I'm merely relaying what was posted on this board a month or so back.

[riot2] 10/7/2018 12:30

BP are applying for an extension to the waiver. Which will then be handed over to Serica.

Negotiations are currently ongoing. Im sure there will be a solution.

You don't have to wait for the current one to expire. That would be plain stupid.

Its all in the RNS's.

If you add 2+2 and get 5, thats your problem....

[riot2] 10/7/2018 12:26

Chesnuts.

BKR is undoubtedly the SQZ priority. Mitch Flegg says so himself.

And he also says the other priorities in the order I listed them.

If you know better, perhaps you had better have a word with Mitch, and point out he has it all wrong?

[bountyhunter] 10/7/2018 12:26

How do you know that BP or SQZ cannot apply for a new licence commencing 1-Oct before the existing one expires?

[fardels bear] 10/7/2018 12:24

It's been previously discussed on here and the upshot was it can't be renewed until the old one expires.

And as yet we don't have an asset that could be covered by a waiver so we can't apply for one.

You know what the Yanks are like.

[bountyhunter] 10/7/2018 12:18

I see no reason why SQZ cannot apply for a new waiver before the existing BP one expires even if not effective until 1-Oct. Failing that BP could apply now (or already) for a new waiver on the understanding it would be transferred to SQZ on deal completion. It would be foolish to leave application until October and I don't think that would be the approach as it would not enable continuity of production and staff would have to be laid-off. I would imagine that SQZ are pursuing a multi-pronged strategy to address the whole transfer of BKR assets issue re Rhum.

[fardels bear] 10/7/2018 12:17

We can't apply for the waiver until the BP. one expires in September. Since we don't have any assets that could be covered by a waiver until the deal goes through we can't apply for one in our own right.

I wonder if these things auto-renew ?

[bountyhunter] 10/7/2018 12:11

Can someone ask Trump for his signature on the golf course and hand him the waiver, he probably wouldn't waste time reading it in any case :)

[dunderheed] 10/7/2018 12:08

Hallelujah (*3).
Although wouldn't be surprised for some sort of 'left side' acquisition either?

At the end of the day any 'dilution' from this fantastic mgt team has paid off many times over so not nervous of that proposition anyways.

[fardels bear] 10/7/2018 12:05

Yes, they are. That is what TCW has always said. In precisely that Order.

[chestnuts] 10/7/2018 11:57

riot

they are your priorties and probably not the companies

[dunderheed] 10/7/2018 11:57

Can we keep all this "religion mumbo jumbo" off the thread please!

[riot2] 10/7/2018 11:55

Hallelujah?.

Not unless the waiver is in the bag!

[fardels bear] 10/7/2018 11:43

Hallelujah.

[riot2] 10/7/2018 11:39

Chesnuts.

That amount wouldnt go very far..
Like I say let's get BKR sorted first.

Any deal after that can use cash in the bank and from BKR cashflow.

It has to be the right deal at the right price.

Priorities.....

1. Complete BKR
2. ERSKINE
3. COLUMBUS/ROWALLAN
4. TCW looking for another asset

[chestnuts] 10/7/2018 10:05

riot/ capt

[captainfatcat] 10/7/2018 09:29

Brent over $79

[riot2] 10/7/2018 07:18

Blimey,

Alot of stupid ideas on this board.

I'm sure they are concentrating on getting BKR sorted, before they start buying up the whole of the North Sea.

You couldn't make it up.....

[fardels bear] 10/7/2018 00:00

He's talking out of his agenda driven ass.And don't forget he has no position here - he's liquidated them all and is short DOW and FTSE.

[fanshaw] 09/7/2018 23:53

chestnut

I'm sorry but I do not understand how you arrived at those figures for
puchasing a larger share of Erskine could you expand in more detail.

[fardels bear] 09/7/2018 23:06

Google Endeavour puts columbus up for sale..