Serica Energy Share Discussion Threads

[steelwatch] 03/8/2018 10:03

Further on in the article:

In the case of a significant number of assets, the maturity of the relevant field is such that even TTH will not make it economic for a new entrant to acquire the asset and assume full decommissioning liability, because the expected return from the field over its remaining life will not generate enough profit to sensibly fund the remaining element of decommissioning costs after netting off the available tax relief.

In light of this, we expect the trend of oil & gas companies using innovative deal structures for mature assets in the UKCS to continue, with the seller retaining all or some decommissioning liability (and thus claiming tax relief in respect of the retained part).

[rogerlin] 03/8/2018 09:55

Looks like from Nov 18 purchasers of north sea assets will likely have to take on the decommissioning liabilities but will get the prior tax history to help them, Serica's deals with BP and Total being before then structured to leave the problem with the majors.

[fardels bear] 03/8/2018 09:45

D'you suppose it was the same share, Bh? :o

[captainfatcat] 03/8/2018 09:43

bountyhunter hmm yes makes you wonder...

[farmscan] 03/8/2018 09:41

Nice to see that it's also back dated to 1st Jan along with the rest of it.

[blueball] 03/8/2018 09:36

Finished up 75% last night.

[blueball] 03/8/2018 09:35

Britshbulls were wrong Fardels they admit it.

120p target xmas I am convinced.

[bountyhunter] 03/8/2018 09:33

another 1 share buy just went through (@84.4), reminds me of the last one very recently

[fardels bear] 03/8/2018 09:30

That last comment when taken in conjunction with your sell signal last night (sorry, British Bulls' sell signal) does tend to mark you out as somewhat disingenuous, blueball me old China. And there are many different types of office in the City.

[sawney] 03/8/2018 09:21

Good to see that Total retain de-commissioning costs....

[sawney] 03/8/2018 09:07

Well that came out of the blue....can't help thinking that some of the Major players selling assets in the North Sea have had a good look at the BKR deal with BP and fancy some of the same....Total must have been watching closely knowing they held bits of BK....Chevron have a load of stuff up for sale...... including Erskine....

[steelwatch] 03/8/2018 09:01

BK presentation

[lord gnome] 03/8/2018 08:50

GG 😀

[general george] 03/8/2018 08:46

"We and BP are actively engaged in advance stage discussions with both UK and US governments to provide the basis on which the necessary Licence consents can be obtained and thereby enable continuing operations on the Rhum field after expiry of the existing OFAC Licence. As the BKR Assets make a significant and important contribution to UK offshore gas production we are seeking to ensure that an appropriate Licence will be granted and are working closely with all parties to this end.”

This is the bit that I'm most happy about, sounds like it is nearly there.

Double the share price on completion.....

[general george] 03/8/2018 08:42

This has got to be 150p on completion?

[bountyhunter] 03/8/2018 08:33

83/85 now :)

[bountyhunter] 03/8/2018 08:32

Lol! He didn't but we did ;-)

[general george] 03/8/2018 08:27

LG,

Did you decide on a flower? :)

[lord gnome] 03/8/2018 08:23

Wow. I didn't see that coming. What a nice way to end the week. Another great deal that uses no capital. It's as though the majors are trying to give away their assets.