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Share Name Share Symbol Market Type Share ISIN Share Description
Serica Energy Plc LSE:SQZ London Ordinary Share GB00B0CY5V57 ORD USD0.10
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +6.40p +5.02% 134.00p 132.60p 134.20p 134.80p 128.60p 130.00p 245,190 16:35:04
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 35.9 46.4 22.0 6.0 355.19

Serica Energy Share Discussion Threads

Showing 21926 to 21949 of 22300 messages
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DateSubjectAuthorDiscuss
28/4/2019
21:10
Good to see Serica getting a mention.
captainfatcat
28/4/2019
20:20
Https://www.ft.com/content/d9e06710-60fa-11e9-b285-3acd5d43599e from the RRE thread
bountyhunter
28/4/2019
20:18
Small oil groups make waves in North Sea with creative dealmaking Companies are snapping up majors’ unloved assets in an M&A merry-go-round In the UK North Sea, it is a case of out with the old and in with the new. A mergers and acquisitions merry-go-round that has seen a band of new North Sea players snap up fields from the older, established energy groups spun once again last week when Chrysaor struck a $2.7bn deal for the assets of US oil major ConocoPhillips. Much attention has focused on the private equity money driving this change. Chrysaor, for example, is backed by EIG Partners. But a cluster of smaller, listed companies are also making a splash in the mature basin. Relatively unknown, listed minnows such as RockRose Energy and Serica Energy do not have the same deep pockets as the private equity-backed newcomers. But they have been making a mark by doing creative, often complex deals to take over unloved assets from the majors and other groups wanting to either reduce their exposure or exit the mature North Sea altogether. Such deals might involve striking a profit-sharing deal with the current owners over future production, agreeing to take on decommissioning liabilities in return for a cash sum or offering up a stake in exchange for interests in fields. The cold waters of the North Sea may be a far cry from the beaches of the Caribbean but Andrew Austin, founder of RockRose, was lured by the UK’s oil and gas basin. In 2015, Mr Austin, former chief executive and a co-founder of UK onshore energy company IGas, returned to Britain from taking time out in the Caribbean with the intention of buying up North Sea assets. “There were a lot of people phoning up with asset packages in the North Sea that were no longer in the hands of people who really wanted them,” said Mr Austin. RockRose in February agreed a deal for US major Marathon Oil’s two North Sea subsidiaries, which will more than double the UK company’s production this year to 24,000 barrels of oil equivalent a day. The acquisition was priced at $140m, although the subsidiaries come with $350m of cash, meaning Marathon Oil is in effect paying RockRose as it will also take on the decommissioning liabilities for the assets. The acquisition, through which RockRose will become an operator of fields for the first time, is the eighth the company has negotiated in the basin in just four years, although one of those — with former Danish company Maersk Oil — failed to complete. Last month it approached London-listed Independent Oil & Gas. Its overtures were rejected but the approach was evidence of further appetite. “Our next move . . . will be looking at more development assets,” said Mr Austin. Serica Energy, which started life in 2004 as an explorer drilling wells, switched strategy in 2015 and began acquiring North Sea assets that were already in production from the majors. That year it struck a deal with BP for an 18 per cent stake in the Erskine field, through which it avoided having to raise capital by handing BP a 5 per cent stake. In November last year, Serica completed a deal involving four complex transactions with BP, Total, BHP Billiton and Marubeni, the Japanese trading and investment conglomerate. Those transactions gave it interests in the Bruce, Keith and Rhum assets and involved a profit-sharing arrangement with BP, BHP and Total. Its production has increased to 30,000 barrels of oil equivalent per day from 2,000 barrels/day at the end of 2017. Small independent oil and gas companies have a long history in the North Sea and Serica and RockRose are not the only independents participating in the latest M&A flurry, with EnQuest recently acquiring the Magnus oilfeld from BP. But both RockRose and Serica argue their case is different, as they are following an unconventional route. RockRose was doing business “the other way round”, said Mr Austin, by securing production first rather than drilling wells, appraising a discovery and then trying to develop it. Tony Craven Walker, executive chairman of Serica and a North Sea veteran, has been replicating with Serica a model he had already tested with Monument Oil & Gas, once a leading UK independent, which was sold in 1999. “We started off [with Monument] by buying production from Petrofina, BP and a couple of other people. After we had the production, we then expanded it into a bigger portfolio of exploration, development, appraisal, all sorts of things that we could fund on the back of the production,” he said. Mr Craven Walker cited the 2016 merger between Norwegian independent Det norske oljeselskap and BP’s Norwegian unit to form Aker-BP as the kind of deal Serica would like to do next to secure more development and appraisal assets. “We need to merge ourselves together with a portfolio,” he said. Mitch Flegg, Serica’s chief executive, said he did not see companies such as his in competition with the private equity-backed players such as Chrysaor but rather operating in a “different niche” by taking on assets where there are issues to be resolved — with the ownership structures for example. “We are prepared to take things that have real problems that need solving,” Mr Flegg said. end
gersemi
28/4/2019
08:33
tried Opera with free VPN on my Android phone but always reporting 'issues' connecting to the VPN unfortunately only working after disconnecting from VPN connection attempts, back to Chrome and Puffin for me on Android
bountyhunter
28/4/2019
08:20
At least he was a gentleman once..
fardels bear
27/4/2019
19:33
Talking phone numbers ?????
pineapple1
27/4/2019
18:52
That's a lot better than posts from our friend over on the other 'talking phone numbers' thread believe me! G's doing nicely btw thanks ;-)
bountyhunter
27/4/2019
18:12
Oh no, back to geraniums then😁
the abbot
27/4/2019
14:04
Fair point...
fardels bear
27/4/2019
12:51
Don't start on that we don't want to attract any undesirables over here 😉
bountyhunter
27/4/2019
12:48
I'll believe it when I see it.
fardels bear
27/4/2019
12:48
[ramp]We could be talking telephone numbers![/ramp]
fardels bear
27/4/2019
11:52
from that a commitment is required by December 2019 to drill a well before December 2021
bountyhunter
27/4/2019
11:47
Updated December 2018... Http://envoi.co.uk/wp-content/uploads/2018/12/P252SericaNamibiaUpdateFlyerDecember18.pdf
bountyhunter
27/4/2019
10:51
Do we know what date that relates to?
the abbot
27/4/2019
09:52
Interesting, thanks for posting that link dcarn... Envoi has been engaged by Serica Energy to assist in the search for a partner for their Licence 047, covering a very prospective 17,000km2 area of the largely unexplored Luderitz Basin, offshore Namibia. Serica own an 85% interest in the Licence which they operate on behalf of their partners NAMCOR (10%) and Indigenous Energy (5%). ...More significant is the Wingat-1 well drilled by HRT in 2013 on strike to the north of Serica’s acreage in which 41° API oil was recovered and typed to the same mature Lower Cretaceous source rocks that are modelled in the Luderitz Basin...
bountyhunter
27/4/2019
09:44
http://envoi.co.uk/projects/active-projects/africa/namibia/ After all Serica have achieved over the last two / three year they may even get some return on the long forgotten Namibia acreage. It definitely seems to be back in focus with a couple of super majors moving in, I think Totals recent find in SA renewed interest in the region. 2020 the year for Namibia to become the new Guyana.
dcarn
27/4/2019
09:37
Nowt I expect, until bp drills the next Namibian duster. Then we'll have the usual naysayers claiming it was risked at a quid..
fardels bear
27/4/2019
09:34
and back in the room - If Envoi manage to get a farm in partner to replicate BP's original offer of a free drill for 37.5%, then it will leave Serica with 47.5% of what could be a very large prospect. What effect could that have on the SP?
squibno1
26/4/2019
22:07
Cheers I'll check that out. I use Puffin on Android at present which is encrypted and seems to give your location as somewhere in California. Talktalk thought I'd been hacked but they never have been good on security skills so no surprise there! I still constantly get bogus talktalk calls thanks to their lack of adequate security wrt customer details in the past!
bountyhunter
26/4/2019
22:00
Works on Apple devices too via Apple app store, but not sure about the vpn
steelwatch
26/4/2019
21:08
Free VPN on mobile too. https://blogs.opera.com/mobile/2019/03/opera-for-android-51-vpn/ Downloadable from the app store, but you need the full version, not "Lite"
steelwatch
26/4/2019
20:34
I think it's to avoid revealing he is out of the UK so as to place the bets.
bountyhunter
26/4/2019
20:27
Is that so the wife can't tell how much you are losing on the geegees?
fardels bear
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