Share Name Share Symbol Market Type Share ISIN Share Description
Serica Energy 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
  +0.75p +2.78% 27.75p 27.75p 28.00p 27.75p 26.50p 27.50p 575,988 16:29:30
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 17.4 2.7 3.2 9.2 69.42

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Date Time Title Posts
18/10/201717:52Serica Energy3,675
27/9/201711:28serica energy182
03/6/201717:15Serica Energy plc - Moderated7,634
10/4/201611:14L2 - Observations, comments and screenshots56

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Serica Energy Daily Update: Serica Energy is listed in the Oil & Gas Producers sector of the London Stock Exchange with ticker SQZ. The last closing price for Serica Energy was 27p.
Serica Energy has a 4 week average price of 21.50p and a 12 week average price of 20.25p.
The 1 year high share price is 34p while the 1 year low share price is currently 13p.
There are currently 250,179,040 shares in issue and the average daily traded volume is 317,401 shares. The market capitalisation of Serica Energy is £69,424,683.60.
dunderheed: Curry you're right but at the end of the day would you prefer they entered deals just for the sake of it? This Erskine deal, fur me, came completely out of the blue and was bloody brilliant. Now if course there is lots of private equity competition. Just for clarification can someone remind me BP are on the hook for the abandonment of sqz share of this field? Best of luck all.
lord gnome: If it was to go, then it certainly wouldn't be for £60-70 millions. Any bid would need to recognise the true value of the assets and I reckon they would have to pay at least double the current share price. Nice thought Almsivi.
lord gnome: My quid pro quo will be a rocketing share price, FB. That will do nicely.
rossannan: Agreed. Today we have the classic post-tip dip. Love the way that the share price overreacts to production interruptions, behaving as if SQZ had the same cashflow problems as other AIM oilers. An absolute gift for the patient.
aussieb3: Why the share price not risen bit of confidence someone buying 10 percent
aussieb3: So some one bought 9 percent not a dent in share price what that about
seconduser: From WatchMaveick on LSE. You never know.......... I was at the agm and personally met the BOD. They are a very experienced and proven group who have very senior contacts in BP, Shell, Chevron etc. They are also very old school - not interested in lots of communication and social media. They are however very focused on growing the company and delivering sustainable, long term shareholder value. I asked them myself why they were not doing Director purchases - there response was mooted, but left it at 'they cannot purchase if they are in blackout period or under NDA'. We can assume by this they are under NDA and are at advanced stages of a possible deal. Now to valuation. The year end cash position, based on the mid point of company guidance from Erskine will be circa $42m (£34m). The tax umbrella is worth 40% of $160m (£53m). Thus at year end the total value of the tax umbrella plus cash will be c£87m. This is way above current market cap so you can say any future Erskine production, plus Columbus, plus Rowallan, plus other assets are essentially not priced in at all - in essence they are given zero value ! In summary this is probably one of the most undervalued companies in AIM and is only trading at such a low price as some sellers are bored and buyers are concerned about single asset. It appears nobody is looking at the potential of a bid for the company. Any other UK producing company could use the tax umbrella themselves (worth £53m), they would keep the cash the company has and gobble up the assets. I suggest rather than speculate on this thread, that good fellow investors contact the Board members and speak to them and ask questions. At the afm I found the board very approachable. Good luck to all shareholders, you will be well rewarded for your patience in holding/adding to your shares. Now is a time to significantly add as either news of an acquisition this year, or the Columbus FDP and the Rowallan drill will rapidly accelerate the share price. There are very few cash rich companies on AIM, who have a rock solid BOD and have the assets to deliver 'life changing' changes in a companiys value. Best wishes.
pineapple1: I think they were a 1 assett producer when Kambuna was pumping gas. The share price was about 350% higher than today at one point.I'd be surprised if SQZ is not at similer levels in a few yrs time due to foundations being laid today.... Big money is made in the waiting and not the trading. imho
gersemi: Serica remains a buy despite recent strong gains argues Gary Newman Usually when shares in a small AIM company have risen by nearly 300% from the level where I recommended it as a buy, I would be suggesting to take your profits before the almost inevitable retrace that so many suffer from. But there are exceptions to that and I do tend to cover companies where I see long term growth prospects, rather than bothering with those that just see large rises based on sentiment which are subsequently often wiped out just as quickly. I first covered Serica Energy (LSE:SQZ) as a long term buy at 5.5p back in September 2015. The market cap has now risen to just over £50 million, which does make it more risky buying now as any problems would see the share price take a tumble from the current level of around 20p. The same would be true if the oil price was to drop by any significant amount, as this UK producer is highly geared towards that, and part of the reason why it has been performing so well lately is as a result of the higher prices it is obtaining for the oil it is selling. Currently most of the focus has been on its producing Erskine field, where it holds an 18% share and is operated by Shell (formerly this was held by BG Group prior to the takeover), and it had been suffering due to waxing problems in a pipeline plus a routine shutdown of the Lomond off-take platform. But in late August operations recommenced at the field with a net production rate of 3,150boepd being achieved straight away, which was better than had been expected, and since then that has been steadily approving, and during December reached 3,800boepd. Given the improved commodity prices towards the back end of 2016 this has had a very positive effect on the balance sheet of the company and it is continuing to build its cash reserves at an impressive rate – at December 31 2016 the company had $16.6 million in the bank, and once the proceeds of sales during December are received that is expected to grow to over $20 million (with $3.5 million net of operating costs expected to come in for the month). The profitability of the operation has also been helped by a new operator taking over the Lomond facility and not only reducing costs – the overall operating costs are now well below the $20 per barrel guidance level - but also improving reliability, which had been a problem in the past. This has meant that Erskine has no longer been constrained by the ability of the off-take facility and has been able to pump at its full potential, producing 20,000 to 23,000boepd gross. What I find just as impressive as the operational side of things is the fact that the company has managed to achieve this without getting into any debt, and has very little in the way of liabilities on its balance sheet – net assets stood at over $71 million as at the last interims up to the end of June 2016. It also doesn’t currently have any major planned Capex requirements during the coming year, and has extended some of its exploration licences until a time when hopefully there is renewed interest in spending in this area. It also has the Doyle prospect in the Irish Sea, where it has a 20% stake and the carrying amount in place should be enough for an exploration drill without Sercia having to contribute anything to the costs. It does of course still have some outstanding payments to BP, the previous owner, with $2.775 million paid on July 1 2016, and two further payments for the same amount due on the same date in 2017 and 2018. A look at those interims might put some people off as they showed a net loss of nearly $2.8 million, but that was largely as a result of Erskine being offline, plus the low oil price during the period. Another risk here is the current total reliance on one asset, and any problem can have a big effect on the profitability of the company, as demonstrated during H1 2016. The company does have a solution to that problem though, and during the coming year a full development plan for its 50% owned Columbus field is expected to be submitted for approval by the OGA – this will all be part of a larger project alongside neighbouring fields, with the goal being to maximise the development and offtake in as financially viable a way as possible. Columbus has plenty of potential as the development is based upon a single well and it has contingent resources on a P50 basis of 6.2 million boe, so has the potential to have a big impact on revenue and profits in the future. So currently I would still view the shares as a buy – and definitely one to keep holding for now – as the company is showing that it has the potential to keep on growing going forwards, as well as continuing to build its cash reserves. The only thing that would change my mind would be any serious operational problems, or further significant drops in the oil price below the $45-50 area.
Serica Energy share price data is direct from the London Stock Exchange
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