Serica Energy Share Discussion Threads

[almsivi] 23/4/2020 07:28

Record profit (£85m pre tax) Half the market cap held as cash, 3p divi. Where does this go at 8am?

[nicnic1953] 23/4/2020 07:26

Brilliant!!....another year on the beach ....

[zingaro] 23/4/2020 07:17

Also very pleased with the dividend

[lord gnome] 23/4/2020 07:11

Very nice RNS. Pleased with the 3p dividend which will help replace some of the income lost elsewhere. The company is in a strong place right now and can take advantage of the many opportunities that this broken market will reveal.

[newkotb1] 22/4/2020 18:29

Calculated as follows : Unit Revenue $20.90/boe ($627k/day) vs Opex ~$13.00/boe ($390k/day)...

Using Brent $22 / UKNatGas 13.9p / 1.23 conversion / all hedges / Gas 80%, oil 20%.... So, imo the revenue easily covers all costs, SQZ is still very profitable. This is on a very simplistic view of revenue, you then need to factor in other accounting variables and wizardry too that can alter the bottom line. afaic the primary thing SQZ are making an ops profit. Very relaxed with SQZ, one of the best, if not the best run outfit on the UKCS imo

[dcarn] 22/4/2020 17:29

Thats a very good question i dont have the answer to, although I know what I'm betting on.

I do know I far prefer Sericas position rather than some of our peers such a Premier, Enquest or Tullow in the current climate.

[robo175] 22/4/2020 17:23

Good luck guys for tomorrow.

[sunnysideup1] 22/4/2020 17:16

I hope they don’t blow their money on acquisitions or spending on expansion in oil and gas.

There is no certainty they will make a return on it. Oil and gas prices will stay very low for years. Can anything in the North Sea be profitable at the bottom line at current levels? note I am not talking about operating level. I am saying after covering all costs can we stay profitable?

I would love to know the answer and see any analyst report on it.

Thanks

[dcarn] 22/4/2020 12:22

I emailed Serica IR about shareholder access to tomorrows analyst call and received the following.

"That’s correct, an audio recording of tomorrow’s analyst call will be available on the Company’s website in due course."

Going to be a busy day, my two largest oilers by far (Serica & Jadestone) both reporting on the same day. Both cash rich producers which should enable them both to weather this storm and take advantage of any distressed assets as they become available. Hopefully, both paying a maidan divi to help me weather this storm.

[dunderheed] 22/4/2020 11:16

15916 - it's the way I tell 'em!

[swanvesta] 21/4/2020 19:50

Will SQZ benefit from higher gas prices short term? Just wondering how much their hedges might limit gas revenue (as well as underpin it) over the next year or so.

[dunderheed] 21/4/2020 18:08

Triple that.
I'm off out tonight to take a look at the noth star when it gets dark.

[fardels bear] 21/4/2020 17:00

Double that.

[almsivi] 21/4/2020 14:04

Results due Thursday

[dunderheed] 21/4/2020 13:45

Oh ok no problem.
I am surprised I would have thought quite intuitive - but totally agree anyway as I couldnae be bothered if I was a bluey.
I have just filtered the poor chap - which is very rare for me however needs must!

[robo175] 21/4/2020 13:42

No too I wouldn't know how.

[dunderheed] 21/4/2020 13:29

Yes this will also be a by product of the reduction in shale oil as in it is unlikely there will be any US LNG for sale anymore or immediate medium term future - to Europe anyway.
All imho and dyor of course.

Robo as a "bluey" why don't you set up a new RRE thread and f'ing ban that costa?
I am sure you'll get everyone from current RRE migrating across and you can get rid of all you don't want?
Just a suggestion like...

[quemaster] 21/4/2020 13:04

I was listening to an energy annalist on Bloomberg yesterday talking about gas, the gist of it was that the demand for gas had not reduced as much as oil but gas production would be dragged down along with oil and he sees much higher prices later this year.
Obviously good news for Serica if he's correct.

[robo175] 21/4/2020 12:17

Fardels- Yes remember you saying you were getting Alpha, Im looking at a Cayenne latest model 1-2yr old.

[dunderheed] 21/4/2020 10:23

Oh lol sorry - I have never actually seen the comet spelt that way but I'm not going to sound like nigelpm in criticising spellings or grammar matey.
Great move going into cash - wish I had done - lol!!

[fardels bear] 21/4/2020 09:58

If you look on google it's spelled both ways. What's a boy to do?