Serica Energy Share Discussion Threads

[dunderheed] 22/2/2019 08:03

Exactly geyser.

[bountyhunter] 22/2/2019 07:58

hadn't quite finished that post initially but have just read yours, I do agree it's a fuss about nothing :)

after all it's not exactly unusual for a rig to be delayed while completing a previous drill with dates not cast in stone

[dunderheed] 22/2/2019 07:41

Ah BH you've done it again lol!
Edited your original post stating what I was saying in reply to yours at the same time lol!
Great minds...

[dunderheed] 22/2/2019 07:40

What's the fuss about're rig?
At the end of the day if they decide to test (not that likely anyway both on a cos plus better to plan and come back later) they will be able to extend contract a few weeks to do this?

[bountyhunter] 22/2/2019 07:35

In the video Mitch said the the Rowallan drill will hit the reservoir by April so maybe it will actually now reach TD by later in April, if not I guess any further scheduled work for the rig will have to wait until TD is reached as the next NS well is only 'expected' to start in April 2019

[dunderheed] 22/2/2019 07:29

I cant remember but wasnt the day rate for the (potential upcoming) r3 rig or was it this actualky this Ensco rig quoted at 150k per day?
I did comment at the time it seemed expensive?

[steelwatch] 22/2/2019 01:43

Confirmation of Energy Voice article



ONE = Oranje-Nassau Energie BV


However, Swiss Railway timetables are not always adhered to in this game.

[fardels bear] 21/2/2019 23:24

And more importantly, we're not paying a dime.

[d220] 21/2/2019 20:21

CoS - very interesting. Serica said the drill would be 140 days but if the rig is due elsewhere by end of April, that would only be 120 days.....

[circles of stone] 21/2/2019 19:31

Confirmation that ensco 121 that is drilling Rowallan is expected to move on to another contract in April per Energy Voice. The Ensco 121 rig has been awarded a three-well contract with ONE in the North Sea that is expected to begin in April and end in December 2019. The contract also includes three one-well options. According to Bassoe Analytics, the rig's estimated dayrate is $90,000.

[reallyrich] 21/2/2019 14:23

StockMarketWire.com - Cantor Fitzgerald today reaffirms its buy investment rating on Serica Energy PLC [LON:SQZ] and cut its price target to 160p (from 163p).

stupid brokers cuts it price 3p ffs no clue. Maybe all that chart talk confused them

[almsivi] 21/2/2019 12:46

I see that's two brokers with Buy recommendations (price target's of 160p) in the form of Cantor Fitzgerald and Peel Hunt.Https://www.sharesmagazine.co.uk/news/market/6321573/Broker-Forecast-Cantor-Fitzgerald-issues-a-broker-note-on-Serica-Energy-PLCI've seen a total of 4 broker recommendations according to my own brokers website although can only identify these two as published advice. Anyone know who the other two are?

[bountyhunter] 21/2/2019 09:08

I've expanded no.4 to include that although not technically part of the video!

SQZ looking forward:

1) Planned BKR production increase from around 24k boepd to ~30k yearly average

2) Lower opex cost reducing from current $18/b

3) From 40% to 50% share of BKR due to SQZ in 2019 so that's a 25% increase on 2018.
For 2020 that's then a 60% share so a 50% increase on 2018 revenue due to SQZ (more when point 1 is taken into account)

4) Rowallan drill on schedule should hit reservoir early April with TD early May. In the event of success, there is additional upside potential provided by the nearby Dundonald and Sundrum prospects, which are geologically similar to Rowallan. The Rowallan prospect may also extend onto Serica's recently awarded 30(th) Round blocks directly to the south.

5) Columbus development 2020 production 2021

6) R3 intervention should increase Rhum production significantly

7) BKR hub has capacity to handle increased production including from any nearby fields which may be developed by other companies which could increase revenues - BP did not pursue this opportunity for political reasons

8) Looking to extend life of BKR fields and so push back decommissioning - SQZ has lower overheads and is more focused on BKR than BP

9) Decommissioning costs - SQZ will pay 15% after taking into account HMRC's 50% contribution to the initial 30% liability

10) Erskine production restored, 3.2m barrels of oil originally forecast to be produced but 3m produced to date with new CPR indicating another 3m barrels still to be produced!

11) Erskine now producing ~3.5k bopd

12) Post Erskine deal back in 2015 the share price did not fully reflect the acquisition until production figures were released 6 months later, the same may be true of the BKR acquisition

13) Serica's production split is 80% gas / 20% oil

14) Looking for other accretive deals

[bountyhunter] 21/2/2019 08:53

Dh did you notice that if Rowallan comes in "Dundonald" could be next! A bit before it's time lol?!

In the event of success, there is additional upside potential provided by the nearby Dundonald and Sundrum prospects, which are geologically similar to Rowallan. The Rowallan prospect may also extend onto Serica's recently awarded 30(th) Round blocks directly to the south.

[bountyhunter] 21/2/2019 08:01

That often happens to me I make so many mistakes especially with the thumb typing and predictive text on this phone. I can't be bothered to power up the laptop most of the time!

[dunderheed] 21/2/2019 07:50

Yes lol see my edited post above!!
Your reply beat me to changing my original post.

[dunderheed] 21/2/2019 07:46

Did u see the ENI comments?
Potentially reading (way) too much into that but very strange?

Just gone back and 're read.
Yes can see you were aware!!

I liked the fid "connection" (lol).
I'd have expected that type of comment over on LSE!!

[bountyhunter] 21/2/2019 07:30

Goodish news for UOG this morning but nothing transformational. Which reminds me, how much longer for that rubber stamping at EOG!?!

[bountyhunter] 21/2/2019 07:26

No need to apologise, just making sure I hadn't missed anything as not familiar with that one! Did you also miss out on UKOG lol ;-)
( that one reminds me of PET years ago!)

[dunderheed] 21/2/2019 07:02

BH many apologies, absolutely 100000% I was joking.
I think you saw FB reaction!

[fardels bear] 20/2/2019 23:08

Bad result at Biscathorpe I think.

[fardels bear] 20/2/2019 23:07

I'd rather hammer a six inch nail through my bell end than touch anything the fat controller is involved in, as the expression goes.

[bountyhunter] 20/2/2019 22:58

Just looked at UJO DH, they have taken a bit of a dive for a dead cert? Or were you joking?!

[bountyhunter] 20/2/2019 22:57

Snap FB I'm beginning to wonder why I have EOG, IOG & UOG!