Serica Energy Share Discussion Threads

[waterloo01] 26/5/2024 17:37

Much will be priced in. They are talking about a 3% increase over the existing tax. Cannot see how they could not allow past costs to be used against tax. It would undermine the whole business tax regime it would do the opposite if what reeves wants, which is appear a stable hand. It would be her kwazi kwarteng, liz truss sort of moment.

[bountyhunter] 26/5/2024 17:20

A Labour victory must be well and truly priced in by now, surely nobody thinks Sunak has a chance in hell, not even him I suspect. He's probably already booked a long summer holiday!

[arlington chetwynd talbott] 26/5/2024 17:07

Difficult to see how they could meaningfully diversify in time to achieve anything (in the short term at least). Presumably a Labour victory will see this closer to £1 than £2.

[pineapple1] 25/5/2024 22:47

So Serica according to Latin are looking at investments overseas too.
Guess they won't be the only ones....

[dcarn] 25/5/2024 13:03

Perhaps waiting to get them cheaper.

[davethehorse] 25/5/2024 09:05

165 -170p looks on the cards soon here, why no buy backs yesterday?

[kibes] 25/5/2024 07:50

The imbecile Ed Miliband in charge of energy policy would certainly be a problem. However, we are going to come to a crunch when people realise how expensive it is to rely on electricity. There is no plan to generate anything like what will be needed, net zero is complete nonsense when subject to a reality check. We will eventually be forced to fall back on gas and when this becomes apparent the small oil and gas companies will come roaring back up. This could take time however, at the moment we are led by stupid is as stupid does.

[sbb1x] 24/5/2024 20:52

Dripping because we will get a labour goverment ?

[squibno1] 24/5/2024 12:04

LTIP -
"For the awards to vest in full, the 90 day end average share price must be at least equal to 400p"
Ambitious or what?

[thedudie] 24/5/2024 09:36

The question is why no share buyback announced for yesterday? They haven't missed a day as far as I can see and are not at the limit as far as I can see. So why?

[croasdalelfc] 24/5/2024 08:36

No buyback and share price slides

[oilretire] 24/5/2024 08:16

Long term incentives it is.....but seems fair and a bit of a stretch from where we are??The performance vesting criteria include sliding scale measures of share price performance (35% weighting) and of relative total shareholder return performance (35% weighting), in each case, in respect of a three year period ending at the end of April 2027; together with annual emissions intensity targets (30% weighting) in respect of 2024, 2025 and 2026. For the awards to vest in full, the 90 day end average share price must be at least equal to 400p, the Company's relative total shareholder return performance must be at least upper quartile relative performance (relative to a comparator group of companies) and an emissions intensity target (relating to CO2e per barrel of oil equivalent from the Group's entire producing portfolio of assets) met in respect of each of 2024, 2025 and 2026.

[makinbuks] 21/5/2024 07:52

I don't think that makes a lot of difference. If they want shares for LTIM they can just issue new ones (providing they pass a resolution at the AGM)

[mr smc] 20/5/2024 10:34

I would prefer if they cancelled the shares rather than holding them!I just have the feeling they will be issued as long term incentives....or something like that

[kenmitch] 20/5/2024 08:58

Good chance that the end of the buybacks will be good for the share price as no longer will Serica be a willing buyer of the shares others want to dump.

[davethehorse] 20/5/2024 08:04

Good question...that I'll be interesting to see aa someone/s has/been offloading into the buyback

[nigelpm] 20/5/2024 07:42

RE Buyback - will clearly depend on other acquisitions etc.. Good that they've had the liquidity to buy at these levels though - many others simply can't get many.

[croasdalelfc] 20/5/2024 07:38

The buyback will be finished in 8 market days or so - will they extend / should they extend ? Around 7.5/8m shares will have been bought back reversing some of the damage caused by issuing 111m shares for Tailwind .Without the buyback where does the share price go ... will the obvious seller desist?

[cwa1] 20/5/2024 07:09

A bit off-topic for this board I know, but Serica[anyone remember them?] have announced some, positive, news this morning:-

Serica Energy plc

("Serica" or the "Company")

Approval of Belinda Development

London, 20 May 2024 - Serica Energy plc (AIM: SQZ), a British independent upstream oil and gas company, announces that it has received final approval from the NSTA to develop the 100% owned and operated Belinda field. The field will be tied back to the Triton FPSO following the drilling of the development well which is scheduled to take place in the first half of 2025. The Belinda well is the 5th well in Serica's Triton area drilling campaign, which commenced in April this year using the COSLInnovator drilling rig. All these wells are designed to enhance production via the Triton FPSO.

Proven and probable reserves in the Belinda field are estimated at about 5 million barrels of oil equivalent (80% oil). Production is scheduled to commence in 1Q2026 following the tie-back work to the Triton FPSO.

David Latin, Chairman and Interim CEO of Serica commented:

"We are delighted to have received approval to develop Belinda. This will build on our strong track record of delivering growth and adding value through investment in our assets. We have further potential projects in our portfolio which we continue to assess, including the possible re-development of the Kyle field, which could, like Belinda, be another low emissions tie-back candidate to the Triton FPSO. We look to the UK government to implement tax and licensing arrangements that support investments like Belinda, thereby creating UK jobs, earnings and tax receipts instead of increasing reliance on energy imports."

[cb7] 20/5/2024 06:42

Population growth pushes up GDP. A cynic (like most of us), might conclude that the Tories have realised this and thus kept the doors open.

[joestalin] 18/5/2024 21:06

They are not 'asylum seekers'. They are economic migrants. They home in on Dublin for a very good reason.

[stemis] 18/5/2024 18:44

You don't know my views on any of those, but best to leave it there...

[stemis] 18/5/2024 13:50

Yeah, probably best we do