Serica Energy Share Discussion Threads

[sbb1x] 01/5/2024 13:22

Think dividend should have been 7p and had a bigger buyback

[squibno1] 01/5/2024 11:57

When will the British Government react to industry concerns ?-

"Serica Energy is one of Britain’s top ten oil and gas producers, which delivers around 41,000 barrels of oil a year.
Its portfolio of new projects includes the Buchan redevelopment – 120 miles north-east of Aberdeen – the third-biggest underdeveloped field in UK waters behind Rosebank and Cambo.
Its chairman and acting chief executive is David Latin, an industry veteran with more than 30 years of experience working in the upstream sector including senior roles at BP and the multinational oil giant, OMV Group, where he headed its Norwegian operations.
In other words, he knows his onions.
Which is why when Latin warns that the Government’s insane tax war on oil and gas producers is driving Serica to look at new investments elsewhere in the North Sea – such as Norway – we should shudder. And possibly weep.
The incongruity is too much to bear: the fact that Britain’s penal tax regime might force a British oil producer to go to the land of the oil-rich Vikings to explore for energy when we still have our own black gold is absurd.
Yet that is the state of play which Latin is warning about, not just for Serica but other UK oil producers.
If Serica and its peers do go elsewhere, so will the UK jobs, the tax revenues and more critically, energy security.
Why, you have to ask, would any government willingly penalise its oil producers after the energy shock triggered by Russia’s war on Ukraine, sending oil and gas prices soaring and inflation rocketing?
Quite rightly Latin points the finger at Westminster – rather than Moscow – for the trouble facing the sector."

[nigelpm] 01/5/2024 07:07

I suspect they have daily limits and clearly yesterday with much bigger volume from sellers they were able to fill in the morning

[slicethepie] 01/5/2024 07:04

Obviously they only buyback in the morning, asleep in the afternoon when the shares were 12p lower. Money making scheme for the broker!

[nigelpm] 30/4/2024 21:21

Nice spot - soon get through the £15m at this rate ;-)

[croasdalelfc] 30/4/2024 19:07

188000 today judging by the late TVR RNS

[creditcrunchies] 30/4/2024 18:39

They need a strategy to get out of the UK just like the big oilers have. Your Shell, BP, Total get their revenue outside to avoid the taxes. UK need massive quantities of oil and gas they will do for decades so they should position themselves to be importers of the stuff avoiding the tax

[spawny100] 30/4/2024 18:05

Drop today probably due to Petrofac shares being suspended as from tomorrow? Just saw someone mention on the other site.

[upomega] 30/4/2024 18:02

I agree mrscruff. I would go further cut the dividend to two pence per year.Hopefully hmg will also tax north sea o and gas further. Then we will show the world what a powerful and thoughtful nation we are in terms of the climate

[spawny100] 30/4/2024 15:18

Just doubled holding. Thanks Mr market.

[mickinvest] 30/4/2024 15:04

I'm guessing not much chance of any issues with Petrofac is there, take it Bondholders will agree a deal and they'll carry on in one shape or another?

[nigelpm] 30/4/2024 14:39

Might be a reaction to RNS from Deltic.

[farrugia] 30/4/2024 14:34

why is the stock down 6.5% today?

[nigelpm] 30/4/2024 14:01

Buyback needs to do its job on days like these.

[mrscruff] 30/4/2024 13:00

I don't think the the dividend should be maintained as I think it comes from the days when SQZ had too much money. I would like them to cut the dividend by a third placing the company in an extremely strong position instead of one where the future of the dividend depends on oil staying at these levels. Investors would expect a fall in share price but I would think reaction would be positive.

[slicethepie] 30/4/2024 09:27

Events at Deltic show how dreadful the government and future one are at looking after our oil and gas industry.

[oilinvestoral] 26/4/2024 15:33

Don't know about others but I have no personal plans to sell ! Sold down to recoup multiples of my original investment when they had the OFAC hiccup! So playing with house money here. Now that divi has been maintained , will hunker down , take the divi and continue to critically evaluate progress & performance (same as I do with all other holdings).

[undervaluedassets] 26/4/2024 13:59

In my wildest dreams, given the gas price and the taxman having the company in a headlock, I was not expecting results as good as those.

Any improvement in the gas price or relaxation of the tax regime - (gonna happen one day right? as the taxes are totally unjustifiable given current gas prices) - and this will moonshot.

[stemis] 26/4/2024 11:39

I'm pretty happy with the results but it's undeniable that there's a lot of stale holders in the stock, as we can see from this board. Many will take the opportunity of an rise to 'get their money back', so I don't expect the recovery in the share price to be linear...

[undervaluedassets] 26/4/2024 11:27

Profit taking before the weekend by short termers.

think I will take a few more.

[dcarn] 26/4/2024 11:15

They'll find something.

[loafingchard] 26/4/2024 11:07

What will the detractors whine about then ?

[xxnjr] 26/4/2024 09:04

I thought the results webcast was very grown up and positive :) And in general (not in reply to 6107), may I suggest we park the 'should have accepted the kistos offer' debate, as this has been debated to death. What happened, happened and the situation today is, what it is. Let's look to the future, not back at the past.

[weemonkey] 26/4/2024 08:00

Newbie question.. What is the value of the tailwind reserves?And what was the size of the tailwind debt?Thank you.

[croasdalelfc] 26/4/2024 07:31

Decent buybacks on ok volume . Long May it continue .