Serica Energy Share Discussion Threads

[bountyhunter] 30/7/2018 19:48

what a surprise :-!

good news though, hope there is a new deal before Sept 30th

[general george] 30/7/2018 19:46

TRUMP: WILLING TO MEET WITH IRAN'S ROUHANI WITHOUT PRECONDITION

[fardels bear] 30/7/2018 13:09

We don't know if they have happened though, do we?

[general george] 30/7/2018 13:05

RNS - 11th May - Meeting with OFAC in the next few weeks.
AGM - 28th June - We expect to find a solution to protect this valuable British asset.

NEWS - 6th July - Serica sign 5 year lease for HQ building. Handover 17th August.

AGM last paragraphs............

'Serica is on the cusp of a major transformation and I hope that shareholders can join with me in thanking the Serica team that is making that possible.'

'As we near completion we shall be looking at ways in which we can use our untapped financing capacity to add new assets through acquisition to complement what will be our strong cash flow profile and operating capability.'

All I can think is the talks with OFAC must have been very satisfactory in finding a way forward.

GG

[captainfatcat] 30/7/2018 12:52

loafingchard I wouldn't worry your not missing anything.

[loafingchard] 30/7/2018 12:40

Why can't I see cfc's posts?

[dunderheed] 30/7/2018 12:37

8427 see 8425 snap.

[dcarn] 30/7/2018 12:26

In my experience the 'Company Man' on a driller is more than often a contractor rather than a employee of the Oil Company.

[chestnuts] 30/7/2018 12:25

captain

Tooshee

[dunderheed] 30/7/2018 12:24

I think someone like Senergy / AGR will do the drilling for sqz? I don't really rate Sen and would have preferred adti but they've obviously gone bust!!
I can't see BP getting too involved or else why bother to farm out in first place? All imho and dyor of course!

[captainfatcat] 30/7/2018 12:23

Chestnuts

"All Serica employees coming from BP are Rigg workers and not drillers, so they still need BP"

No you are factually incorrect and your post is misleading.

All the employers coming from BP are not rig workers there is a shore side technical, logistical, and HR support teams. Initially there will be around 50 shore staff moving into Serica new headquarters these are not *rig workers*.

Further the drillers are not BP as you incorrectly imply the drilling crew actually doing the drilling are the contracted crew of the Blackford Dolphin under direction of the BKR Rhum3 well intervention technical team.

[general george] 30/7/2018 12:19

I think you will find a contractor will drill the well......

[chestnuts] 30/7/2018 12:15

fardel

Maybe there will be one or two workers who may have the skills, but SQZ are buying the talent for running the riggs not drill wells.

[fardels bear] 30/7/2018 12:10

That makes sense but are you sure about that?

[chestnuts] 30/7/2018 11:55

captain

All Serica employees coming from BP are Rigg workers and not drillers, so they will still need BP

[bountyhunter] 30/7/2018 11:43

good point cfc

[general george] 30/7/2018 11:18

With Rhum3 an agreement will have to reached. Hopefully we get positive news soon, and its not an issue. BP do the business and job done.

[captainfatcat] 30/7/2018 11:18

Chestnuts "rhum 3 will get drilled but maybe not by BP, because of the sanctions"


Rhum 3 will get drilled using BP expertise the only difference will be the BP BKR team responsible for the Rhum 3 intervention if its done after completion will be by then Serica employees.

[fardels bear] 30/7/2018 11:06

I'd think it wouldn't be drilled by BP. post deal because BP. will have sold it. SQZ will be operator.

[chestnuts] 30/7/2018 10:55

capt
Yes rhum 3 will get drilled but maybe not by BP, because of the sanctions,

[dunderheed] 30/7/2018 10:54

Ah lol cfc snap!!

[dunderheed] 30/7/2018 10:54

I don't think BP will operate the well post hand over they will provide the rig slot though.
Who knows if the deal will be tinkered with but I did some high level calcs previously to do with thus deferment and it will add a few mill NPV to the asset if goes ahead late October, weather allowing.
Best of luck all and as always all imho plus dyor!!
On holiday in Tuscany at moment so sporadic t'inter web connections depending upon where I am in this fantastic baronial villa (friends not mine!).

[captainfatcat] 30/7/2018 10:52

I feel both parties will come to a mutual agreement on any impact delaying R3 will have had.

[general george] 30/7/2018 10:45

True Chesnuts.

I expect the deal will be honoured and BP will do Rhum3 asap. Even if it is after deal completion.

Its good for SQZ as well to have R3 done with regard to immediate cashflow, but on the flipside BP gets half the cake.

I will watch my teeth :)

[fardels bear] 30/7/2018 10:40

I agree, chesty.