Serica Energy Share Discussion Threads

[hunter154] 14/5/2024 13:10

“Any association with Nostrum is poor form.”
Did the guy really mess up at this company?

[davethehorse] 14/5/2024 11:31

Juicy near 8% divi to be paid in July....why wouldn't he at this price....??

[davethehorse] 14/5/2024 10:37

Agreed, a significant new CEO purchase now would be a great statement of intent! Fingers crossed he dips in with his own cash...

[oilinvestoral] 14/5/2024 10:13

Yasx Yeaaaaa , I didn't like the NOG bit either but Spirit Energy & Capricorn are solid names and his overall experience seems generally pretty good. Bottom line: let's face it, a shrivelled lettuce could've done a better job than the last guy they sacked! Also let's hope he's not allergic to buying shares like his predecessor who only purchased a small amount (relative to his £1 million remuneration) after he played a role in the collapse of the share price.Let's give him a chance!

[yasx] 14/5/2024 09:50

Any association with Nostrum is poor form. It is a Co. I am familiar with from years ago.

[davethehorse] 14/5/2024 08:59

https://www.energyvoice.com/oilandgas/553502/ex-spirit-energy-boss-named-new-ceo-of-serica-energy/

[spawny100] 14/5/2024 08:31

Also POLR holder from lower down and SQZ on and off but just bought back recently. A bit too soon as it happens!

[nigelpm] 14/5/2024 08:28

Quite the CV!

hxxps://www.linkedin.com/in/chris-cox-3854b0a/details/experience/

[davethehorse] 14/5/2024 08:09

Yes it could be a similar case here of patience for a little while although I think the current share price looks a decent entry point. Happy to wait and take the divi and the new CEO looks a positive appointment to me, very experienced. POLR value came through eventually, hopefully the case her too...

[melton john] 14/5/2024 07:56

Hello dave, remember your name from POLR, that took a while to correct but happy to collect the divi's while we waited. Same here, a good return on my initial investment divi wise and waiting to buy more when the trend goes up. I'm a patient man. Good luck hope the politics don't screw us.

[bountyhunter] 14/5/2024 07:20

14 May 2024 - Serica Energy plc (AIM: SQZ), a British independent upstream oil and gas company, announces the appointment of Chris Cox as Chief Executive Officer ("CEO"). This will take effect on 1 July 2024[1], with David Latin (Chairman of Serica) ceasing his temporary role as Interim CEO at the same time.

Chris Cox has over forty years experience in oil and gas in a wide range of roles with Majors and Independents. For the last two decades he has been leading complex multi-asset and multi-country businesses including as CEO of Spirit Energy, Interim CEO at Capricorn Energy and Chairman of Kellas Midstream. Chris has experience as a non-executive director of both private equity and publicly listed companies, most recently with Nostrum Oil and Gas. Chris holds a BSc in Petroleum Engineering from Imperial College, London.

[davethehorse] 13/5/2024 07:40

Have bought in this morning at 181p ish, gl holders from here...

[theinquisitiveone] 10/5/2024 15:38

Hi

Can anyone tell me if SQZ qualify for Business Property Relief(BPR) against Inheritance Tax because of their AIM listing?

Thanks

[undervaluedassets] 09/5/2024 15:23

Yup.. Investors are pretty stupid really aren't they.. Especlally on AIM,

Valuations roughly match operating profits on the FTSE 100 by rank ... Roughly that is.

[weemonkey] 09/5/2024 15:19

Here is something interesting to chew on

SQZ is the 2nd most profitable company (proper profits that is ..operating profits) on the AIM100.

JET2 is at number 1

And even after the outlandish 75% tax take SQZ is in 4th position by profitability on the AIM 100 table

yet it ranks 22nd by valuation on the AIM100.

You could not make it up really could you..

[wallywoo] 09/5/2024 14:50

Highest daily volume for 2 years so far today. Should spark some interest here, imho

[nigelpm] 09/5/2024 14:21

I still think there will be consolidation in the sector - tie up ITH, ENQ, SQZ and then HBR swallows the lot up. Combine all the tax losses and someone makes a fortune.

[hunter154] 09/5/2024 13:46

EBITDA multiple below 2 for 2023. Fy24 forecast £514m on sharepad. Todays mcap £694m.
Yes tax is high but fcf for 2024 is £125m.

If you cant see the value here then go and buy NVIDIA.

[steelwatch] 09/5/2024 12:36

Don't follow Serica much these days, but, just checking on wherabouts of a jack-up rig expected Q2/Q3 for a Southern North Sea exploration well I'm interested in and find it is currently working at Erskine. Probably a workover of some sort.



edit: extract from the operator's Annual Report 30/04/24 - "Production efficiency from the Erskine field averaged 76%, (excluding planned TAR losses), as a result of an extended shutdown on the host Lomond platform which provides fluid processing and an export route. A MODU-based intervention is scheduled for 2024 to reinstate production from the W1 well in 2024".

[stemis] 09/5/2024 11:55

Also ignoring tailwind tax losses etc.

Why would you ignore tax losses?

[swanvesta] 09/5/2024 11:38

And surely decom will be paid from pre-tax cash flow, not from post-tax income?

[mickinvest] 09/5/2024 11:17

"IF they can get around £300m pre-tax profit..."


Serious answers only please seeing Labour have not suggested lowering the offset to zero!

[loglorry1] 09/5/2024 10:58

"IF they can get around £300m pre-tax profit..."

Let's assume they can and they pay a full 78% tax rate on it after labour changes and they can't offset investment. Also ignoring tailwind tax losses etc.

That's 66m post tax which seems pretty rubbish given the market cap and the decomm remaining to pay for.

If the UK Gov has decided to wind up the North Sea and focus on renewables as it seems then I don't see much future here. And yes I am a shareholder.

[croasdalelfc] 09/5/2024 10:23

3m transfer or sell?

[undervaluedassets] 09/5/2024 10:22

Well they like the Harbour results.. which is kind of in the same boat as us...

You would think that we would see a read across as we are ploughing the same furrow as twere.

Their directors have been buying (as have ours of course).

Meanwhile.. It is the private investor who - it seems to me - has his tail between his legs about north sea gas.. especially on this board.