Serica Energy Share Discussion Threads

[bountyhunter] 14/5/2019 11:47

I'll post my list of positives again in case any look of particular current significance...

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

2) Lower opex cost reducing from $18/b

3) 2018 results only include one month of production from BKR and less than three months from Erskine. Also , Serica will pay contingent cash consideration to BP, Total E&P and BHP calculated as a percentage (60% in 2018, 50% in 2019 and 40% in each of 2020 and 2021) of net cash flows resulting from the respective field interests acquired.

4) Update re Serica's recently awarded 30(th) Round blocks directly to the south of Rowallan.

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 as 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 still producing ~3.5k bopd?

14) Cash balance as cash rich / debt free

15) Other accretive deals

[d220] 14/5/2019 11:42

Looks more than just a correction to me. Not sure what could be driving the rise other than news brewing?

[lord gnome] 14/5/2019 09:31

I suspect we are just having a technical bounce back after a period of weakness. It got too cheap and that has brought out a few buyers.

[farmscan] 14/5/2019 09:30

it's just me buying ready for my takeover.

[alotto] 13/5/2019 21:18

is there anything cluing an acquisition?

[fardels bear] 13/5/2019 20:38

So, unless one in that list fancies making an offer, it's a long road to tread for any new entrant of a predator to start building a jumping off stake.

[farmscan] 13/5/2019 20:00

I would be very surprised if the management would let it go cheap after all this time. The biggest shareholder @ 17.4% is the ex NED, that with directors holdings @ 3.16 = 20%, then you have BP @ 5.1% and the Hardys with 10.8%. I would imagine most of them would want to hold on for a while. BWTFDIK.

[fardels bear] 07/5/2019 16:40

In reality I can't think of a prowler who'd want to take on all our newly acquired staff.

[fardels bear] 07/5/2019 16:39

I expect Andy Austin's pencil is worn to a stub on this one..

[joestalin] 07/5/2019 16:35

175p would get my vote - of course, I would prefer a bit more.

[captainfatcat] 03/5/2019 14:23

Been busy myself doing some homework and sums on a barn conversion.

Probably we shouldn't be surprised at it being so quiet here once again (I kind of like it).

After all the excitement last year SQZ is probably now become to boring for many Aim investors. No imminent excitement to had just steadily and quietly getting on with business adding to its cash balance by roughly $12 million a month!

Tick Tock

[dunderheed] 03/5/2019 13:46

Morning all!
Been v busy lately and will continue to be so however thought I'd pop in briefly to say hello and express a little disappointment that share price isn't in the 130's.
C'est la vie.
Perhaps a long summer to go and not too much happening on the share price front unless we see more corporate action?
Maybe even with IOG?
Stranger things have happened?
Best of luck all.

[fardels bear] 01/5/2019 11:50

Indeed. Though I knew nowt when I was 25. I have to say I am rather looking forward to HMG paying me for a change, rather than the other way round.

[captainfatcat] 01/5/2019 11:42

Nifty fifty for me this year!

[steelwatch] 01/5/2019 11:19

Oh to be 25 again eh FB?

[fardels bear] 01/5/2019 10:50

God, you're older than me...

[steelwatch] 01/5/2019 10:35

When we were young September newly-weds just moved into our newbuild semi on a new open plan estate, my wife proudly announced when I got home from work she had purchased a few bulbs and planted them in a row along the front border. Sure enough they started to sprout the following spring, but turned out to be a row of onions! That was in '72.