Serica Energy Share Discussion Threads

[goldry] 14/1/2020 18:07

Not sold any either, been topping up a little when below 120. Pity I'm holding HUR as well....

[jp2011] 14/1/2020 18:01

Yesterday the chart was looking dire, share price below the 200d moving average but that's reversed strongly today underpinned with a maiden dividend (tba) and more importantly dividend paying shares tend to attract more funds. My personal view is we're in a new uptrend into the 150-200 range.

[farmscan] 14/1/2020 17:42

Not sold a share, not even the ones I bought 10 years ago, but I do wish you wouldn't say things like "I can't see the share price slipping back to the 110/120 range" almsivi!

[careful now] 14/1/2020 17:18

Still holding. Very happy with today's announcement.

[lord gnome] 14/1/2020 17:18

There were a couple of times over the last twelve months when I did consider moving a few more, but the thought of paying all that CGT tempered my enthusiasm.

[fardels bear] 14/1/2020 17:12

I think most of us are still here, almsivi. I've not sold any.

[almsivi] 14/1/2020 17:00

What a great day for the share price - 12.5% rise leaving up within 2p of our all time high day end of £1.40

I can't help but think that the announcement took the market a bit by surprise - there was obviously a lot of buying and selling - perhaps folks looking to bed-and-ISA their holdings.

I can't see the share price slipping back to the 110/120 range with a dividend confirmed for April so we might be moving into a new support level entirely.

Exciting to still be fully invested. Well done to anyone and everyone who held their nerve over the last year.

[simplemilltownboy] 14/1/2020 16:59

Fantastic update, steady as she goes with the mgmt team. Divi coming our way and R3, Columbus, Eigg to be developed. Going off last year 30k barrels per day is now 36k, so addition 6k per day for not moving a finger. Would be nice to see this moving into a new trading range. Guess only time will tell. GLA

[rivaldo] 14/1/2020 12:24

Malcy today....



"Serica Energy

Serica has released its corporate update this morning with a sparkling message buffed to within an inch of its life. Production from BKR and Erskine is right at the top of guidance at 30/- boe/d and is up some 13% on 2018. Operating costs have been reduced from $18 in 2018 to $13 last year which talks a good story and realised sales income was approximately $30/boe before hedging income of £3.9m.

Cash at the year end was £101.8m (£43.1m) and the company has no borrowings having paid off BP. The BKR cash flows increase according to the agreements and are now 60% rising to 100% after 20/21. The company are happy to be 80% gas for all the environmental reasons that that brings and have been reducing flaring into the bargain.

You will remember that they were awarded North and South Eigg prospects and are preparing to drill an exploration well targeting 360 bcf (P50) with a potential of 1 tcf of recoverable gas. With the Rhum R3 workover well and the development well at Columbus this year is going to be busy for Serica.

Serica is one of a small basket of really high quality UK plays that combine an almost perfect set of requirements for success in the oil industry. It has a strong production base, low decommissioning costs, a strong cash position and excellent management. Sometimes its disciplined approach makes me think it sacrifices growth but this is definitely not the case and it has meant that come the results this year Serica will join the dividend list, another reason for shareholders to rejoice."

[goblin99] 14/1/2020 11:43

Should have added, if it complies with IHT criteria of an aim share, then having in a SIPP is not as critical. Rules continually change, so best to expert advice on the subject.

[goblin99] 14/1/2020 11:40

Can avoid IHT on most AIM shares (not all) if held for at least 2 years. Makes IHT planning significantly easier. Pensions do not form part of IHT calculations (unless over 75 from memory, and even then the income an be drawn without IHT implications, rather individual tax). It's a complex area, but worth planning earlier rather than later!

[jp2011] 14/1/2020 11:21

Inheritance tax??Stick it into an ISA and avoid CGT and income tax

[sawney] 14/1/2020 11:12

With the announcement of the dividend, investors might look favourably on SQZ as a means to avoid Inheritance Tax

[swanvesta] 14/1/2020 11:12

Some of my abject losers (GBP, RKH) seem to be showing green shoots. Long way to go though.

[swanvesta] 14/1/2020 11:09

To be honest I've been out of the game for years, portfolio has been rotting (looking at you PHAR) and these have been one of the few that have done well. Have woken myself up a bit, gaining the strong impression that resources could be turning from their darkest hour.

[swanvesta] 14/1/2020 11:06

I think it was 2p up overall yesterday, most of the gain in the last couple of hours. Not accusing SQZ of anything.

[petomi] 14/1/2020 11:05

I couldn't see a mention of Namibia which suggests not much happening there, otherwise very positive update

GLA

[quemaster] 14/1/2020 11:02

swanvesta the share price had dropped from £1.30p to £1.20p in the past week and was flat yesterday. SQZ are one of the few companies where nothing seems to leak unless it involves issues with infrastructure that are out of the companies control

[swanvesta] 14/1/2020 10:51

Well, I was about to sell yesterday (to put the proceeds elsewhere)and noticed I was being offered 3p more than I expected. Thankfully, I suspected something was up and decided to put off dealing till today.

[fardels bear] 14/1/2020 10:40

I don't remember it having done so.

[swanvesta] 14/1/2020 10:18

Amazing how these shares tick up strongly the day before an announcement.

[rivaldo] 14/1/2020 09:26

An excellent update - and great to see the maiden dividend. This should attract additional institutional interest from dividend hunting funds/those funds who are unable to invest in those companies which don't pay dividends.

Peel Hunt have retained their Buy and 186p target:

[fardels bear] 14/1/2020 09:12

Well done, Mitch. Credit where it's due.

[filterwest] 14/1/2020 09:09

Great company with expected dividend.