Serica Energy Share Discussion Threads

[general george] 14/8/2018 08:32

Hi Robo.

Yes tax credit to use then tax will kick in.

Still huge revenue, and profits (after deducting opex, hedge, plc costs etc)

It's not all gas, but condensate goes at a premium so have just used purely gas to be conservative.

Office handover Friday I belive.

Getting close, just need a OFAC waiver RNS!

[robo175] 14/8/2018 08:12

Cheers General very interesting, I presume all before tax but we have tax concessions to use up as well.

[general george] 14/8/2018 08:06

with 60% Rev = £213m

(with all of the above I have taken average production, to annualise x 365, obviously average production includes downtime for shutdowns etc).

Just shows the potential scope of profits, which are huge.

When 100% sqz.......

Rev @ 62p per therm is

£328m a year!

Nearly £1m a day.

The cash generation will be obscene

[general george] 14/8/2018 08:03

On 22k boepd - if it was all gas....

22k x 58 = 1276000 therms

Revenue =1276000 x 62p = £791120 per day!
Obviously less hedging cost - as there is a 35p odd floor.

We have to give 60% profit to BP/Total too.

Then add in Erskine @ 3k boepd = £107880 per day revenue.

Grand total = £424328 revenue per day @62p per therm
Annualised £155m per year with 40% share to BP/Total

with 50% for 2019/2020

Rev = £184m @62p per therm

with 60% 2021

[bountyhunter] 13/8/2018 21:44

Cheers George.

[general george] 13/8/2018 21:00

Lol, no prob BH.

Sorry about higher bills Farmscan,
Hope we can pay from sqz profits!

[farmscan] 13/8/2018 20:55

I'm hoping that I'm suitably hedged here.

[bountyhunter] 13/8/2018 20:47

maybe you need a fixed rate! ;-)
e.g. outfoxthemarket

[farmscan] 13/8/2018 20:21

Yes thanks General, I'm looking forward to next winter's gas bill already!

[bountyhunter] 13/8/2018 19:34

Good link George, I've nicked it for my Oil & Gas thread, hope you don't mind.

[blueball] 13/8/2018 19:12

Our City office is very quiet today.

[general george] 13/8/2018 16:57

Look at the gas price go!

Looking forward to some bumper cash generation on Erskine restart.
And hopefully BKR and BK completion.

[steelwatch] 13/8/2018 08:08

Re: #8772, Grand Canyon III is now moving across to Lomond, eta 10:30 today. Seven Falcon is currently working at the Scott field approx 85 nm northwest of Lomond.

[bountyhunter] 13/8/2018 07:56

true enough but we still need the waiver, which I'm pretty confident we will get for the reasons discussed

[fardels bear] 13/8/2018 07:51

At the end of the day it's not Iranian oil, it's UK gas and we have a precedent for dealing with this situation.

[bountyhunter] 12/8/2018 21:03

and charictertures of Putin laughing as the UK would need to import 5% more gas

[pineapple1] 12/8/2018 20:40

It would certainly be mega bad publicity for the Trump administration in the UK should they refuse the waiver. You can be in no doubt that the leftie presstitutes would make sure such an action would hit the national tabloids with Pics of freezing women and children.
imho

[bountyhunter] 12/8/2018 19:20

the Tories seem far to preoccupied at the moment in any case to comment on EU policy

[bountyhunter] 12/8/2018 19:13

fortunately we are supposedly trying to get away from supporting the EU in any case;
best policy from the UK government would be to keep stum re EU support certainly until the waiver is issued

[sawney] 12/8/2018 17:24

Suspect it's more about telling the UK to stop supporting the EU.....so if you want a waiver.......

[general george] 12/8/2018 15:51

The US begging for a friend.

Perhps they better sign that Rhum waiver off.....

[general george] 12/8/2018 09:07

Lets see if we get some news this week with the office handover.

Handover scheduled for Friday. Perhaps opening Monday?

[fardels bear] 11/8/2018 18:06

They'll be lucky.