Serica Energy Share Discussion Threads

[slicethepie] 25/2/2019 12:54

Nobody likes a know it all !

[general george] 25/2/2019 12:40

Funny to see a big drop like that.

Any news? Almsivi?

Watching with interest.

[nigelpm] 25/2/2019 12:32

I'd argue it has gone from being significantly undervalued to more like fair value.

[general george] 25/2/2019 12:30

Gas hammered yes. Profit will be significantly down if it persists.

I wont say a word.

Still i like sqz going forward, but was looking toppy and still is.

[nigelpm] 25/2/2019 12:29

UK Gas prices - as GG mentioned recently.

[fardels bear] 25/2/2019 12:24

Sod RRE for a bit. Who is playing with this?

[bountyhunter] 25/2/2019 12:23

Re RRE, there were new regs introduced on 1 Nov 2018 re transferrable tax concessions to offset against decom liabilities so that may have made the deal more favourable now than it would have been for a purchaser prior to 1 Nov 2018.

[almsivi] 25/2/2019 11:59

Correct. The Braes are an interdependent enterprise, Bravo is only around to provide power for the east when alpha can't do it itself. The east simply can't operate without the other two and decomming one means zero redundancy if a turbine trips.

Also, the older Braes are still subject to PRT, when everything else these days is RFCT. It's not a favourable position to be in, keeping 3 platforms operating while only two are kind-of-sort-of producing. If theres oil nearby to justify extending the live of it, great, but it begs the question why it hasn't been done before now.

[fardels bear] 25/2/2019 11:37

Subject to customary adjustments, the closing consideration payable to Marathon Oil will be approximately $140 million, which reflects the assumption by the buyer of MOUK and MOWOS working capital and cash equivalent balances, which were approximately $350 million on Dec 31, 2018.---------So they are paying RRE to take it off their hands and do the clean up. RRE will want to extend the life of the fields to kick the decom costs down the road I expect.And they are getting $210m plus the assets to pay for it.

[oilretire] 25/2/2019 10:36

Of course I do, but iirc it was the state of the braes and the decom commitments that were the problem. Remember they tried to sell Norway and the UK as one lot but in the end had to settle for selling Norway only.

[fardels bear] 25/2/2019 10:02

I'm not surprised they failed to sell the assets in 2013/4, are you, remembering what happened to the oil price and the oil industry in those years.

[oilretire] 25/2/2019 10:00

And remember they tried and failed to sell the UK assets during 2013 & 2014. Officially withdrawn from the market but door always open....Which suggests rre might have a great deal but not followed the story so no idea. Sorry for OT.

[bountyhunter] 25/2/2019 09:42

Dh re IOG, Ineos would seem the likely contender given the Bacton connection?


Re Bacton IOG:
In May 2018 IOG carried an extensive programme offshore and onshore at the Bacton terminal to commence the recommissioning of the pipeline to export the entire IOG portfolio of gas in the Southern North Sea from kilometre point 60, which is 7-km south of the proposed Southwark platform location.

Excuse the OT.

[oilretire] 25/2/2019 09:00

The braes are a bit iffy though. Rusting relics.WOS stuff is probably the main driver for the deal.

[dunderheed] 25/2/2019 08:49

Exactly and not sure who would be interested - ironically I'd have said an RRE type company but less so now?

[bountyhunter] 25/2/2019 08:43

Yes Dh re IOG the market doesn't know what to make of today's RNS is my view so difficult to accurately value ahead of possible joint venture?

[dunderheed] 25/2/2019 08:31

Agree GG and didn't have enough funds in RRE as had some more money set aside for that - but due to jobsworth f'ers was waiting 2 weeks for it to arrive - you never know let's see when they are relisted - what the price will be - maybe still some opportunity to buy some more.

I wonder if SQZ were putting their hat in for those assets - I don't personally think so but has whetted my appetite for potential further SQZ deals- as per the Mitch "hints"?

BH - that should more than compensate for IOG - but to tell you the truth I am heartened by their announcement this morning and may well buy a few more - especially if I can get them around the 8-10p mark. (I'd personally expected them to increase on that news release but it seems that they may drop?)
Much more of a gamble now and expect the NAV to half as well post farm down? IMHO.

[general george] 25/2/2019 08:11

Yes well done RRE holders. Although I think the Serica deal was much better, esp with decom costs derisked somewhat.

[dunderheed] 25/2/2019 07:45

They're bigger than serica now.

[bountyhunter] 25/2/2019 07:43

Checkout RRE which appears to have done a Serica!!!!

😀 ☺️ 😀 ☺️ 😀

[general george] 24/2/2019 16:57

Malcy says whatever u pay him to say...... Just ask Frontera investors....

[bountyhunter] 23/2/2019 14:59

I imagine he gets quite a few free meals though, however although he generally reiterates what's been said in RNS releases he sometimes adds a bit of background based on meetings with management so I usually read what he has to say, but don't expect to read many negatives!

[farmscan] 23/2/2019 14:11

Malcy doesn't invest in the shares he recommends on his blog.

[joestalin] 23/2/2019 11:33

If Malcy is so smart, how come he is still peddling his blog after all these years?