Serica Energy Share Discussion Threads

[reallyrich] 01/10/2018 13:37

Almsivi do you know much about pizzas?

[captainfatcat] 01/10/2018 13:13

FB, Lewis gun, you must be older than I had imagined...

[nicnic1953] 01/10/2018 13:12

Keep posting almsvi your o&g and serica related posts make more sensè than other totally unrelated posts perpetually put on this board !

[fardels bear] 01/10/2018 13:04

If I were a Lewis gunner I'd like to know that somebody like almsivi had loaded my pans.

[almsivi] 01/10/2018 12:59

Don't believe there's any need for Temporary management now, BH and I don't get the feeling that we'll need a vehicle like this. The escrow scheme was enacted to avoid specific EU financial sanctions, not US. US sanctions against Iran have been ongoing for decades and not once did unilateral US action cause Rhum to shutdown. OFACs issuance / renewal of license signals to me that this is the most expedient way of keeping the license coverage intact while reviewing/approving a new license application. Although not professionally involved in the legal side of oil and gas, I am heavily involved in the business regulatory side, as relates to fiscal, environmental (EUETS) and custody transfer permits. Many oil companies I've worked for over the years have divested, merged, bought out or bought in to various assets and they all have one thing on common. A ton of paperwork. This will be no exception.

[captainfatcat] 01/10/2018 12:13

Good volume so far today with lots of sells getting soaked up with little affect on the bid.


Tick Tock

[bountyhunter] 01/10/2018 12:12

now we just need an OFAC licence issued to SQZ from Nov 5; it may be that this requires the temporary management scheme and/or escrow account as previously? but we will have to wait a bit longer to see



"Rhum and the linked Bruce field produce at around 5 million-6 million cu m/d -- the equivalent of around 2 Bcm/year -- according to UK government data, representing as much as 6% of UK gas production and 3% of UK gas consumption"

[gofers] 01/10/2018 09:38

Peel Hunt 134 from 138 still a nice increase on present price.

[dunderheed] 01/10/2018 09:36

hi almsivi - thanks for your update and opinion matey.
I bought a few more actually since that pm sent lol!
Probably will buy some more soonish but want to sell something else for these funds and, will wait until appropriate time to release these.
Best of luck all, hopefully very exciting times ahead!

[almsivi] 01/10/2018 09:32

Hi DH, if you've researched a bit into OFAC you will notice that they are ridiculously bureaucratic. They do not do extensions, and they do everything they can to maintain the anniversary of the licenses they issue. I have next to no doubt that BKR will complete and I see this "interim license" as a way to keep BP covered while the bureaucracy of US Treasury / OFAC goes over Sericas application with a fine tooth comb. At this stage, it's clear why a go live transfer day that coincided with the OFAC license wouldn't have been a good idea, simply put, the necessary due diligence hadn't been done. It bodes very very well that the license was renewed, however. I remain very confident of completion.

[robo175] 01/10/2018 08:50

Auctions can happen for a number of things but in this case I think it's because it moved 10% or more.

[smokieuk] 01/10/2018 08:45

Oh OK, I'm still learning. I thought auctions were only at day end but just read up on them elsewhere and realise they aren't, necessarily.

[lord gnome] 01/10/2018 08:35

The trading stopped smokieuk because it went into auction. UT at 96p Then the sells took it down again.

[sawney] 01/10/2018 08:27

........all parties are working towards a successful conclusion

[smokieuk] 01/10/2018 08:25

Market seemed slow to respond. Slow rise from open till about 8:15 and only then did the price seem to start to jump.

They seemed to stop trading for a bit then when it came back online a load of Sells happened (mainly automated trades)

[dunderheed] 01/10/2018 08:08

ah lol!! I had to get up, say hello to the dogs, turn on the main room telly then open the rns!!

[bountyhunter] 01/10/2018 08:04

About the need to print off the RNS lol! Now I definitely must go!

[dunderheed] 01/10/2018 08:02

Didn't like to say what - about the free coffee at Subway?
Don't worry - I still have four cups of xtra strong coffee every morning matey!!
Or didn't want to say about the pluses and minuses of today's announcement? lol.

[bountyhunter] 01/10/2018 07:56

Didn't like to say DH ;-)
I'll catch up later.
Final thought - two unpublished minor waivers are still outstanding.

[bountyhunter] 01/10/2018 07:55

I think that leaves us all in broad agreement now.
Off to work after a break :-( so I'll need to catch up later or lookin occasionally on my phone.
At least there is a free coffee at Subway today!

[dunderheed] 01/10/2018 07:53

Well there wasn't much of a need to print that off then lol!
A pessimist could say if everything was 100% certain they would have given licence for another year just in case sqz didn't take over assets and the reason they didn't was because it still needed a 'higher' authorisation post Nov 4th.
An optimist may say - well why bother issuing now as the aim is for sqz to take over assets and another licence would need to be issued then?

It'll be interesting to see what happens share price today opening bets lol!
Me I'm 88p? (i.e. haven't a clue!)
Off for a ginger and lemongrass smoothie so will likely be on my phone now!
Best of luck all!

[dunderheed] 01/10/2018 07:46

Just printing it off now bh!!

[pineapple1] 01/10/2018 07:36

The OFAC could have said No to the issue of the waiver very easily. After all NOv 5th was the latest to get out , not an invitation to carry on doing business with Iran up until that date.
I believe that sanctions are in force currently except actual enforcement on existing relationships won't start until Nov 5th. That's my interpretation. (which may be incorrect of course)
imho

[bountyhunter] 01/10/2018 07:32

or on Nov 5 which is a Monday and has taken on a special significance this year!

[lord gnome] 01/10/2018 07:21

OFAC will grant SQZ a new licence once the BKR transaction completes - on 4 November, perhaps. If BP are selling Rhum, they won't grant BP a waiver.