Serica Energy Share Discussion Threads

[hunter154] 27/3/2024 09:29

Thoughts on what Ithica’s results do for SQZ?
Good cash generation and interesting that they will reduce production due to EPL.

[stemis] 26/3/2024 14:18

So, some shares were held back to cover warranties issued by Tailwind as part of the acquisition. Since there have been no claims under the warranties, these shares have now been released.

Not sure what your point is...

[ashkv] 26/3/2024 14:02

Salt on the wound more share to Tailwind / Mercuria for the dog of an acquisition - WHAT THE HECK IS GOING ON? IS FLEGG LEAVING SQZ FOR A CUSHY JOB AT MERCURIA?

Issue of Shares and Total Voting Rights

London, 26 March 2024 - Further to the announcement of completion of the acquisition of Tailwind Energy Investments Ltd on 23 March 2023, Serica Energy plc (AIM: SQZ) announces the issue to the Seller of 1,438,849 new ordinary shares of US$0.10 each in the capital of the Company. These new shares are the second and final tranche of the 2.9 million Consideration Shares[1] that are being issued in accordance with certain warranty provisions of the SPA.

[1] As stated in the announcement of the Acquisition on 20 December 2022, the total number of Consideration Shares was up to 111,048,124 and is now confirmed to be that amount.

[pineapple1] 26/3/2024 11:15

Good....
Should this be a surprise to the fools in govt. Probably, as they are that detached from reality

[bountyhunter] 23/3/2024 20:21

11 April or thereabouts, re the dividend it will be a disappointment if they don't at least maintain the current level.

[popit] 23/3/2024 17:08

When are the results due here?

And is the dividend expected to be kept at the current level for this year and next year?

[farmscan] 23/3/2024 11:13

Well Enhancer en route to Bruce Field. ETA this afternoon.

[stemis] 22/3/2024 11:09

Jez Ashkv, you're like a broken record...

[mrscruff] 14/3/2024 17:32

Investors need to accept the loony tax is forever and move on. All negative sentiment eventually gets factored into a share price and then the share price can move forward as the revenue after tax is still very strong.

We also need to move on from the high priced Tailwind acquisition that is now at today SQZ share price more than factored in!

A better Chief Executive Officer will be announced at any point would help to change sentiment and drive us forward. I can see any new CEO changing the direction of SQZ and the share price react positively.

This combined with the gas price bottoming should change sentiment and I look forward to 2024 where this looks like a recovery play. As investors we need to think 3+ months ahead.

[slicethepie] 12/3/2024 17:58

That would require politicians to have a brain cell! Both parties are clueless wrt energy, one cold winter and we will be importing gas. Exploration in the North Sea is a long term game and stopping exploration is crazy. The believe that we can rely on wind and solar is cloud cuckoo land.

[orchestralis] 08/3/2024 11:37

Epl should be shelved now that oil prices have come down. To think it is in place until 2028.

[farmscan] 08/3/2024 10:40

Another 20k shares for David Latin as well, a good signal I would say.

[oilinvestoral] 07/3/2024 10:19

Stemis we've established that! Your figures are based on reserves that not only weren't certified when we negotiated the deal, but the ICP who assessed those reserves wasn't even commissioned! Our figures were based on what the company actually had certified at the time (reserves they could take to the bank)! Also your figures turn a blind eye to decommissioning liabilities taken on that would affect the EV . But let's not let the smaller matter of millions of decommissioning liabilities get in our way of proving that the deal was cheap ! Agree to disagree....

[mickinvest] 07/3/2024 09:40

Regarding the HBR results, they still reduced debt by $800m, paid a $200m dividend and cancelled shares of around $250m in 2023 and invested $1B in exploration including countries where they'll get the kick back in lower taxes once they have production, not bad for a company valued at £2B. That says a lot more about the health of the company than reading the headline after-tax and tax rate.

[stemis] 07/3/2024 09:40

But we bought it for oil and that's what we found...

As to whether other posters are wrong, it depends what they are talking about. I posted the figures that I used to calculate price per 2p and they all come from published and verified information.

[oilinvestoral] 07/3/2024 09:28

Perpetual value is a highly respected guy on twitter. I agree with him! https://x.com/perpetualvalue/status/1749134869135761600?s=46&t=ySHTOHElP3t1B4beGtacxwIs he also wrong? Is Raper capital also wrong ? Are other posters on here also wrong? The deranged pugnacious one tried to treat him like he treats us on here ! Luckily PV , gave him a wide berth and treated him with the contempt and apathy he deserves! Imagine sifting through 7 week old Twitter threads looking for argument's !!!! #pugnacious!

[oilinvestoral] 07/3/2024 09:17

We bought a piece of land in deepest darkest Byker but paid Darras Hall prices (wink emoji)! Now once we start digging for the foundation if we find that the seller who duped us into this overpriced POS land, has accidentally left a diamond ring & a gold bracelet buried there. It doesn't make us smart negotiators! It just means we got lucky ! Comprehende?

[pineapple1] 07/3/2024 09:05

Profit before tax of $0.6 billion (2022: $2.5 billion); profit after tax of $32 million (2022: $8 million) reflecting an effective tax rate of 95% (2022: 100%)

From HBR results.

Perhaps the next government will attempt to get the remaining 5%.
At least HBR are attempting to diversify away from the NS.
Nobody should turn up to NS licensing rounds but as they continue to do so the message does not sink in with the crooks in Parliment. Well it probably does but they don't care at the moment as they are making lots of cash from the green lobby.
imho

[nigelpm] 07/3/2024 08:54

In my 2 decades doing this, I have never seen an acquisition valued at how much the 2P bbls are worth months or years after the agreement/ announcement…

Your mistake here is simple - timing of the updated reserves position being very shortly after the announcement of the deal but well before the acquisition date.

You've been shown to be fundamentally wrong but like most BB posters you won't accept your error.

[stemis] 07/3/2024 08:50

Interesting analogy. Even where I live, in the NE, the price of land (with planning permission to build) varies massively from poor areas like Byker to areas like Darras Hall. That's because of the ability to add value to land (i.e. build a house and sell it) it much higher in Darras Hall than Byker. So you might look at land sales in Darras Hall and say, wow totally overpriced, I've never seen land sell for this much. But in the end the land purchase ends up more profitable than land bought in Byker.