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SQZ Serica Energy Plc

188.50
3.90 (2.11%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Serica Energy Plc LSE:SQZ London Ordinary Share GB00B0CY5V57 ORD USD0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  3.90 2.11% 188.50 187.80 188.00 190.20 184.00 187.00 4,948,209 16:35:29
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 812.42M 177.8M 0.4578 4.11 730.09M
Serica Energy Plc is listed in the Crude Petroleum & Natural Gs sector of the London Stock Exchange with ticker SQZ. The last closing price for Serica Energy was 184.60p. Over the last year, Serica Energy shares have traded in a share price range of 166.00p to 271.00p.

Serica Energy currently has 388,345,933 shares in issue. The market capitalisation of Serica Energy is £730.09 million. Serica Energy has a price to earnings ratio (PE ratio) of 4.11.

Serica Energy Share Discussion Threads

Showing 16451 to 16474 of 35000 messages
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DateSubjectAuthorDiscuss
04/8/2018
15:49
Yes the PE would still be low at £1.50 so once all uncertainty is removed and BKR+BK+Erskine are contributing to the bottom line with Columbus and Rowallan(est. 20 to 60mmboe) on the horizon the sky is the limit (for LG) 🙃
bountyhunter
04/8/2018
15:34
Once confirmed and in the bag.
Id have thought 150p.

Sqz will be making 100m a year min. I expect in 12 months it will be well north of 2 quid

general george
04/8/2018
15:18
Is that at £2.50? 8-)

by the way I'm very confident that both deals will ultimately conclude at which point I believe that the share price will be significantly higher than it is now

bountyhunter
04/8/2018
15:16
If anyone connected with Serica had the slightest doubt about the Iran sanctions situation the BP deal would be on hold, the new HQ in Aberdeen would not have proceeded and the Total deal would not have been announced. I have no fears whatsoever for any of this and I would guess that Serica have already been given the nod. All we await is the RNS to confirm it. Flower or no flower! 🤣
lord gnome
04/8/2018
15:14
This is a new development.

Remember at the AGM, TCW said partners had been slow to respond.

Mitch told me it had been a busy week. So I think it likely this was sorted in the last couple of weeks.

I think they have an agreement in principle regarding Rhum. Details being finalised. Hence advanced talks.....

general george
04/8/2018
15:05
Article it The Times as well, although one need a subscription to read it.
farmscan
04/8/2018
15:04
It's one of those "known unknowns" right now I think, although we have been told that discussions are already at an "advanced stage"...

"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."

bountyhunter
04/8/2018
13:59
My comment wasn't aimed at anyone is particular but I came away earlier with a general feeling that people meant the Total deal had been announced now because the outcome of the sanctions discussion was known.

However as I said, there must be optimism over the outcome otherwise they'd have put it on hold

smokieuk
04/8/2018
12:51
Thanks almsivi, I got DECC from looking at who it was that imposed the temporary management scheme last time round in similar circumstances.

smoki - not sure who you are suggesting is assuming that "it's been announced now"? I'm
not suggesting we will get news right now but just speculating as to what may be going on in the background imho and how things may pan out going forwards based on past history.

bountyhunter
04/8/2018
11:33
Just as a gentle correction, DECC no longer deal with the commercial aspects of Oil & Gas activity. It's been spun out to the OGA. DECC still involve themselves with PON1 notices, EUETS emissions & other environmental concerns related to offshore activity, but decisions pertaining to licenses, production forecasting, recording and approvals is all handled by OGA
almsivi
04/8/2018
11:07
These things don't just happen overnight. Total have probably been considering this plan for many months, and talking to Serica for slightly less months. I'd say it's a little tenuous to assume that it's been announced now because anyone knows the outcome of the negotiations.

Having said that, I suppose there must be optimism over the outcome otherwise they'd have put it on hold.

smokieuk
04/8/2018
10:20
I think that the most likely news first would be for DECC to impose a temporary management scheme with an escrow account for IOC revenue (as previously) as a precondition for the renewal of the OFAC licence. Last time there was a delay as the ability for DECC to impose such a sheme had to be written into UK law with certain conditions which we still meet. DECC will need to advise IOC that this is the only way for production to continue with US sanctions in place due to the requirement for the OFAC licence renewal.
imho, dyor

bountyhunter
04/8/2018
09:57
The thing that stands out for me is that Total would surely not have agreed to the deal unless they have been given the heads up that the waiver is in the bag. Of course nothing is 100% and a risk is still there, however some communication must have been made to reassure Total executives that the liklihood of BKR completion being delayed due to US treasury officials reluctence to issue a waiver for Rhum is slim.. Perhaps its receipt is imminent. (next week??????)
imho

pineapple1
04/8/2018
09:40
This won't do any harm either.
robo175
04/8/2018
09:38
You heard it here first, folks.
fardels bear
04/8/2018
09:09
On the other hand if the waiver is agreed by then there will probably be a wild party with pipers and people dancing in the street, one more enthusiastically than the others ;-!
bountyhunter
04/8/2018
07:39
Probably get a bit of coverage in the local press
oilretire
04/8/2018
07:32
I think that the HQ opening will be low key unless the advance negotiations re the OFAC waiver have been concluded by then.
bountyhunter
04/8/2018
07:00
Nice write up, will beca gd week next week
general george
04/8/2018
06:32
“We see any concerns over the US sanctions impacting the BKR deal as unwarranted, given the strategic importance of Rhum (it produces 5% of entire UK gas), and historic precedent for producing the field under previous sanction regimes.”

Very true, I hope to see a waiver RNS very shortly.
We should see a RNS for the HQ opening. Who will do the opening?

Sturgeon, Trump, Claire Perry? Or Lord Gnome and his flowers? :)

general george
04/8/2018
06:23
I'm very happy with this add on to the BKR deal, it tidies up the whole transaction.
It's done Total a favour too, as they look to offload their non core north sea assets.

Once complete, SQZ will have funds to add to their portfolio.
25k barrels not to be sniffed at.

Cashflow will pay for Columbus. Rowallan drill, if that comes good, it would be amazing.

Well done Serica and the staff.
I wont be surprised to see 90p by the end of next week.

general george
04/8/2018
06:21
And the same analyst in the Herald.......



Ashley Kelty, oil and gas analyst at Cantor Fitzgerald Europe, said the acquisition appeared to provide a very cheap means to bolster Serica’s asset position. Serica could use cash generated from the fields’ production to fund development work on other assets.

He added: “We see any concerns over the US sanctions impacting the BKR deal as unwarranted, given the strategic importance of Rhum (it produces 5% of entire UK gas), and historic precedent for producing the field under previous sanction regimes.”

oilretire
04/8/2018
03:52
...Mr Kelty said the addition took Serica’s total production to around 25,000 barrels, more than the likes of Cairn Energy and Faroe Petroleum....

“With high netbacks from production and a substantial pool of tax losses, Serica will be generating significant free cash in the near term, which will be deployed for the Columbus development, and potentially fund the exciting Rowallan development, assuming exploration success later this year.

“We see the acquisition as a very cheap means to bolster the asset position, with the step-change in production and net revenue increasing value enormously....”

sawney
03/8/2018
20:39
Yes oilretire BKR must complete first therefore both dependent on the OFAC licence. As FB mentioned if only we could buy the IOC half the issue would be sorted but I doubt whether it would suit Iran politically to sell out at this point in time. If a temporary management scheme is imposed again (which incidentally didn't require agreement from IOC last time) and I think is the most likely scenario we will still need the licence but confidence is clearly high from SQZ that this will be forthcoming.

"Completion of the transaction with Total E&P is anticipated to take place immediately after completion of the BKR Transaction with BP which requires certain regulatory consents, including a Licence from the US Office of Foreign Assets Control ("OFAC") relating to ongoing operations on the Rhum field. 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."

bountyhunter
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