Serica Energy Share Discussion Threads

[reallyrich] 27/2/2019 08:34

Minimal effect if any

[spandy83] 27/2/2019 08:34

That's what I was talking about in my somewhat muddled message. I imagine it's probably what's caused decent weakness but is a typical example of uncertainty causing weakness so the sooner the details are known the better... which of our assets go through forties again?

[steelwatch] 27/2/2019 08:16

Any ideas how this might affect us?

[spandy83] 27/2/2019 06:52

Could it be partly down to Ineos announcing they're gonna spent £0.5bn overhauling the forties pipeline? Investors being worried about effect on production?

[danny baker] 26/2/2019 20:51

Almsivi, not many investors read block listing review announcements but it would be enormously helpful if Serica's advisers took more care over them and realised Serica is traded on AIM rather than the main market. The two announcements this month should be headed Block Admission Application and Block Admission six monthly return. The six monthly return should also make reference to AIM rule 29 and Schedule Six of the AIM Rules for Companies rather than Listing Rule 3.5.7G. I think the volatility this week in the Serica price was simply down to comparisons with RRE which at first glance made Serica look fully priced and Donald Trump's tweet which knocked the oil price. Serica has a shareholder list of people who have done very well from their shares but who will feel nervous from time to time and take some profits.

[almsivi] 26/2/2019 14:51

Yeah - someone logged an RNS yesterday - it leaked and some twitchy PI's dropped some holding. Its a plausible explanation.

It would appear that the 2005 Share Save Scheme is being drawn-down on. I don't recall seeing a six monthly return in August last year - I must have missed it.

[captainfatcat] 26/2/2019 14:49

almsivi probably so

[almsivi] 26/2/2019 14:40

BLOCK LISTING RETURN

Would this go some way to explaining the erratic share price fluctuations?



BLOCK LISTING SIX MONTHLY RETURN
INFORMATION PROVIDED ON THIS FORM MUST BE TYPED OR PRINTED ELECTRONICALLY AND PROVIDED TO AN
RIS.
(Note: Italicised terms have the same meaning as given in the Listing Rules.)
Date: 26 February 2019
Name of applicant: Serica Energy plc
Name of scheme: Serica Energy plc Share Option Plan 2005
Period of return: From: 24 August 2018 To: 26 February 2019
Balance of unallotted securities under scheme(s)
from previous return:
7,342,550
Plus: The amount by which the block scheme(s)
has been increased since the date of the last
return (if any increase has been applied for):
Nil
Less: Number of securities issued/allotted under
scheme(s) during period (see LR3.5.7G):
225,000
Equals: Balance under scheme(s) not yet
issued/allotted at end of period:
7,117,550
Number and class of securities originally
admitted and the date of admission
8,196,330 ordinary shares of US$0.10 each –
26 February 2018
Name of contact: AMBA Secretaries Limited (Company Secretary)
Telephone number of contact: 44 (0) 20 7487 7300

[bountyhunter] 26/2/2019 12:15

Send criminals out there to make candles and as long as they are outside UK territorial waters they can then export them to the EU post Brexit!

[general george] 26/2/2019 11:48

Candle factories lol

[captainfatcat] 26/2/2019 11:46

or candle factories ;-)

[bountyhunter] 26/2/2019 11:03

Yes we have a few to send out there between us lol.

[fardels bear] 26/2/2019 11:00

Or punishment blocks for Nimbys.

[bountyhunter] 26/2/2019 10:56

Or holiday hotels for shipwatchers :)

[captainfatcat] 26/2/2019 10:41

Yes hopefully by the decommissioning comes around 10 + years they would have decided to turn obsolete rigs into artificial reefs to help with replenishing fish stocks.

[bountyhunter] 26/2/2019 10:31

And after HMRC's contribution it would be less than 30% in any case.

[reallyrich] 26/2/2019 09:58

You are talking about something at least 10 years in the future. You will also find that the cost of decommissioning has come down a lot as new technologies have been developed to help the process.

Change the topic

[captainfatcat] 26/2/2019 09:28

re decommissioning and the 30% of BP costs

Its my understanding that while BP are liable for the majority of the BKR decommissioning costs Serica as operator will be managing the decommission and billing BP as such SQZ will have full control of the spend.

This hopefully will be significantly less than SQZ having to pay 30% of BP's costs if BP were doing the decommissioning.

[dunderheed] 26/2/2019 08:53

To be honest GG re SQZ - I don't know but I would have thought they are only 'paying' or setting aside the unwinding of the discount rate applied to the full de-comm costs?
I don't know of course but that would make sense?
They will also be responsible for the full provision of abandonment of any additional drill and tie in costs to these assets post acquisition?

[dunderheed] 26/2/2019 08:51

GG agree mate wasn't implying at all you were and thanks for posting up the information!

[circles of stone] 26/2/2019 08:16

Happily snapped up more yesterday.

[general george] 26/2/2019 08:13

I wasnt being negative on the aquisition. It looks a good deal from what I can see.

Just thought useful to assist in calculations. Im sure the share price will open much higher on relisting.

Well done to holders.

Also some read across to sqz, showing the importance of decom costs and the protection they have, with the BP deal.

We will know more in the results with regard to decom provision. As they pay a sum equal to 30% of BP costs.

Cheers GG

[dunderheed] 26/2/2019 07:43

Exactly BH.

[bountyhunter] 26/2/2019 07:30

Also the law changed on 1 Nov 2018 making tax concessions re decommissioning transferrable so that has probably been taken into consideration.