Serica Energy Share Discussion Threads

[bountyhunter] 22/4/2019 18:44

The first would be OK but not the second for me, imho!

But the main cost would be to travel up there.

[fardels bear] 22/4/2019 15:29

Depends who is doing the after dinner speech..Jonathan Ross; Russell "The Pits" Brand, for instance. They'd have to pay me to go..

[reallyrich] 22/4/2019 14:13

bloody good price for a dinner with wine.

[bountyhunter] 20/4/2019 14:22

Sorry but the IC chronic article was not worth reading :-\

[fardels bear] 20/4/2019 13:38

Figures.Boom boom..

[joestalin] 20/4/2019 13:38

Investors chronicle - How much cash will Serica Energy (SQZ) generate?

Whereupon, it admits that it does not know.

POO is volatile, and BKR output far from verified. This is a typical IC stock article - only the company name changes each time they use it.

[fardels bear] 19/4/2019 16:39

We have now.

[steelwatch] 19/4/2019 16:34

Rather distracted by personal matters at the mo, but have we had this?

[fardels bear] 19/4/2019 15:59

I believe the other partner's shares are for sale too.Why would you though...Maybe I can buy 25%. :)

[bountyhunter] 19/4/2019 13:42

I've also been I interested in that theory pineapple, if true and applicable to Erskine production there could go on for ages!

[fardels bear] 19/4/2019 12:12

If ever a reason were needed to buy some more of Erskine (much of which is up for grabs), I'd say the continual reserved increases would do it for me.

[pineapple1] 19/4/2019 11:26

Erskine reserves seem to increase every year since they bought it rather than going down. I wonder if there is a much larger feeder field at lower levels seeping in or is it just as a result of improving draining tech.
I,ve wondered many times how this seems to often happen. Maybe it brings into question wether the conventional theory of the formation of oil through organic matter buried beneath sedentary rock under anoxic and high pressure conditions is in fact correct and that oil is actually formed via the abiotic theory of non biological origins rising up through the earths rock. I,m no geologist so can't answer that.
imho

[steelwatch] 19/4/2019 11:22

IC article, loaded for me first time, but you may need to register:



Or try this one first ⬇️

target='window'>https://www.google.com/url?rct=j&sa=t&url=

May need to copy the long link into your search bar for it to function.

[fardels bear] 19/4/2019 11:16

Why indeed. Why do you think?

[reallyrich] 19/4/2019 10:56

Decommissioning is 10 years plus in the future why GG you keep going on about it?

[bountyhunter] 19/4/2019 10:33

Farmscan, thanks for the correction, I've corrected that post now and will also correct in the list which I maintain on my mobile thread...

From 40% in 2018 Serica gets 50% of cash-flow from the BKR fields in 2019, rising to 60% in 2020 and 2021 and 100% after that.

[nigelpm] 19/4/2019 09:57

These are the bits you want GG:



Determining the fair value of contingent consideration on BKR acquisitions

The Group determines the fair value of contingent consideration payable based on discounted cash flows at the time of the acquisition calculated for each separate component of the contingent consideration. The same models and assumptions are used in the calculation of the fair value of property, plant and equipment arising on the business combination. Any cash flows specific to the contingent consideration also reflect applicable commercial terms and risks (see note 22).

Decommissioning provision

Amounts used in recording a provision for decommissioning are estimates based on current legal and constructive requirements and current technology and price levels for the removal of facilities and plugging and abandoning of wells. Due to changes in relation to these items, the future actual cash outflows in relation to decommissioning are likely to differ in practice. To reflect the effects due to changes in legislation, requirements and technology and price levels, the carrying amounts of decommissioning provisions are reviewed on a regular basis. The effects of changes in estimates do not give rise to prior year adjustments and are dealt with prospectively. While the Group uses its best estimates and judgement, actual results could differ from these estimates (see note 23).



contingent consideration of $209m

and decommissioning $29m

[farmscan] 19/4/2019 09:50

Bounty it's 2 years at 40%, so 2021 is the final year to BP et al.

[bountyhunter] 19/4/2019 09:36

Re revenue going to BP for the next few years...

From 40% in 2018 Serica gets 50% of cash-flow from the BKR fields in 2019, rising to 60% in 2020 and 2021 and 100% after that (edited).

On decom SQZ will pay 15% after taking into account HMRC's 50% contribution to the 30% liability.