Serica Energy Share Discussion Threads

[pineapple1] 28/9/2018 08:23

It does say mid year in the RNS so its likley less than $21m
I feared it would be down to about $5M so anything more is positive to me ,as expense must have been high lately.
With Erskine back on line any time soon the cash will not be a problem.
imho

[lord gnome] 28/9/2018 07:59

Looks like all those tax losses could be used very quickly, sawney - imagine that little cash pile!

[bountyhunter] 28/9/2018 07:58

This is what stood out for me...

"We will also continue to use our financial position in order to identify and pursue opportunities to grow our portfolio in the UK North Sea."

This is an ambitious company which is not planning on stopping with the BKR acquisition!

[sawney] 28/9/2018 07:54

the abbot...you're right...I just worded it wrongly...

This looks good as well....

Serica's significant UK ring fence tax losses brought forward have been applied to fully shelter Erskine net income from tax payments and are expected to be sufficient to cover future income from the field leaving a surplus available that can be applied to revenues from the BKR Asset acquisition after completion. The Group held approximately US$146 million of UK ring fence tax losses as at 31 December 2017.

[oilretire] 28/9/2018 07:52

Indeed sawney, I'm guessing the 'loss' was the 'rumour' driving the selling of late.

Not that I agree with selling for that reason as the future is so bright :-)

[general george] 28/9/2018 07:48

Rowallan drill too.

Free carry......

[circles of stone] 28/9/2018 07:40

Rns positive on the readiness to take on bkr, erskine ready to restart production shortly, good update on Prospects and Aberdeen office. Just lacking a statement on confidence on getting the waiver.

[sawney] 28/9/2018 07:34

Interesting....the headline figure from the RNS is a loss in the first half of $8M

If the market just reacts on that....it might be possible to snag a few more on the cheap, because apart from Erskine, that update looks very positive....

edit....this update has really brightened my day...:-)

[spandy83] 28/9/2018 07:33

Lol I think it's worth reminding ourselves that we'll basically have 50% of our market cap covered by cash in a months time... frikkin' massive! They do sound incredibly confident of completion. Not really any shred of doubt in their wording.

[robo175] 28/9/2018 07:31

Don't see any reason for the selling lately other than profit taking, Erskine should be producing again next week and there still on course for BKR completion next month I just can't see it not happening.

[dunderheed] 28/9/2018 07:28

Not that old chestnut Spandy!!
We must discuss that every 5 minutes!

[spandy83] 28/9/2018 07:22

Anyone done the maths lately on what that cash injection is going to look like... ?

[pineapple1] 28/9/2018 07:21

Yup. A lot, lot more cash left than i expected.

All looks good to me and all systems go for Nov 1.

[robo175] 28/9/2018 07:20

Bypass line for Erskine wax problems due this week, says Chrysaor

[general george] 28/9/2018 07:18

Excellent news

[captainfatcat] 28/9/2018 07:13

Interims out

Looks good

BKR due to complete 1st November

Erskine due to restart shortly

$21 Cash & equivalents Million on the balance sheet.

[spandy83] 28/9/2018 07:11

Solid update... so much happening before year end. Completion of BKR in just one month; followed by receipt of 10 months worth of 40% cash flows. Columbus FDP approval. Drilling of Rowallan starts. More reliable Erskine startup imminent (26km of new pipework is no small thing). And we only lost $8m with no revenue stream. Such a decent company

[fardels bear] 27/9/2018 22:40

I made a whacking profit on mine and then swapped them for EO. Two days before bloody Gideon shafted the NS with one of his back firing windfall taxes.

[bountyhunter] 27/9/2018 22:30

I prefer to block any recollections of GKP from my memory!

[fardels bear] 27/9/2018 21:45

Afraid to say I held the wife's 5000 GKP all the way up to 450p and all the way down again.. Not a happy bunny.

[bountyhunter] 27/9/2018 20:55

TA, my first buy was at just 11p, wish I'd bought more at that price though!
Given the smallish recent drop that is more likely to be related to a further shortish delay with Erskine imo rather than BKR in which case we may well get clarification tomorrow I think.