Serica Energy Share Discussion Threads

[farmscan] 17/8/2019 13:52

It seems there may be some development opportunities for Erskine now that Ithaca is operator. From Ithaca's June presentation:

'Erskine
 Low cost HPHT gas-condensate field developed via a normally
unmanned platform
 Defined infill drilling and step-out exploration targets'

[fardels bear] 17/8/2019 12:10

Looks like it was a belting price. You watch us shoot up when the license is updated.

[farmscan] 17/8/2019 10:50

I have always felt more than a little aggrieved at the Ithaca take-out price, but having had a brief look back at the last IAE ops update less than a month before the takeover was announced, does it now look like it was a good price for Ithaca@ $646m or is Serica very cheap at £277m.

"Operations Update & 2017 Outlook

12 January 2017

Ithaca Energy Inc. (TSX: IAE, LSE AIM: IAE) ("Ithaca" or the "Company") provides an operations update and guidance on the outlook for the year ahead.

Highlights

-- 2016 average production totalled approximately 9,300 boepd - exceeding full year guidance of 9,000 boepd

-- Forecast first hydrocarbons from the Stella field scheduled for February 2017, with the electrical junction box inspection and remediation work programme nearing completion

-- 2017 production anticipated to be in the range of 19,000 to 22,000 boepd, reflecting the updated Stella start-up schedule

-- Harrier field development programme launched - development drilling to be completed in 2017, with start-up of production expected in the second half of 2018

-- Forecast 2017 unit operating expenditure of approximately $18/boe, down nearly 30% on 2016 due to the positive impact of low cost Stella volumes on the production portfolio

-- Forecast 2017 capital investment programme of $70 million, primarily centred on Greater Stella Area ("GSA") activities, including development drilling on the Harrier field

-- Downside commodity price protection extended into 2018 - average volume of 7,600 boepd hedged to mid-2018 at an average floor price of $50/boe

-- Net debt at 31 December 2016 reduced to $598 million, down $67 million from the start of 2016"

[steelwatch] 16/8/2019 11:27

Seven Atlantic is still at the Bruce location.

[farmscan] 15/8/2019 19:36

Polaris on her way back to Aberdeen, wonder if we will hear what's going on.

[upomega] 15/8/2019 18:52

There's nothing like a bit of scrumpy.off to wasp tunnel

[marvelman] 15/8/2019 17:37

After a few glasses of champagne even my wife looks good again

[nigelpm] 15/8/2019 17:19

Credit where it's Due. He's one of the best out there.

[pineapple1] 15/8/2019 16:19

Bit of a bromance in the making here.I hope its not a case of unrequited love for Nigels sake.

[nigelpm] 15/8/2019 15:23

GG is one of the smartest traders I've ever seen. Drinking champagne with him right now. Hope you lot are alright? Fantastic time to buy in. Let's all make some bucks lads.

[nigelpm] 15/8/2019 14:28

It's your mate GG. Sends his regards. Fully filled at 103. Off he goes.

[winston8643] 15/8/2019 14:07

Looks like a big order being filled here IMO , not surprised at this level .

[datait2019] 15/8/2019 10:05

I'd say 70p is lows

[dunderheed] 15/8/2019 09:44

Bonjour all.
Last time or b4 I was mooting selling down some of me SQZ (for which I was castigated lol) - bloody wish I had done now!!
Anyways where's the bottom of this "spike down"?
Anyone any ideas?

Apart from that hope everyone is in good health and best of luck to all!

[datait2019] 15/8/2019 09:13

Below 100p soon

[bountyhunter] 14/8/2019 18:28

and possibly I3E with the rig due to move tomorrow with a bit of luck for the first of three drills with a 90% chance of success for the first

[lord gnome] 14/8/2019 18:20

All my small oilers are suffering at present. This is not stock specific. SQZ is a steal at this level, but so are DGOC, RRE, JOG, TXP and ECO to name but five.

[bountyhunter] 14/8/2019 17:55

just general market malaise today I think, nothing fishy at all

[farmscan] 14/8/2019 17:47

Not that i've got any spare cash!

[farmscan] 14/8/2019 17:46

Ok ta. I think we deserve a favourable rights issue.

[fardels bear] 14/8/2019 17:44

No I've heard nothing.

[farmscan] 14/8/2019 17:43

fb. when you say 'rumours', have you heard such rumour, or are you inferring that rumours could be circulating?

[fardels bear] 14/8/2019 17:31

And the volume precludes a leak... But if the dma is being shaped to take it down it makes you wonder..And no director buys even at these levels. Ho hum.