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Short but sweet from earlier in the week.
https://www.energyvoice.com/oilandgas/north-sea/217610/serica-to-announce-maiden-dividend-takes-disciplined-approach-to-deals/
Patience, patience, upomega - it's getting there and a whole lot more looking towards April and beyond... sasa.
It still doesn't like going above 1
40.damme annoying
d220,
This is true, although it sounds like it's suitable for yourself regarding IHT may not be for others. Don't forget that dividends are taxable (above allowance) if outside held outside of a tax-efficient wrapper, up to 38.1% atm
https://www.gov.uk/tax-on-dividends
With the Hardy's, a major beneficiaries of SQZ rise in SP, would they have any influence in this decision .... hummm !!!
Probably not, sure their tax 'planning' is way more 'professional' that majority of SQZ holders.
You may need to check this for yourself, but I think that to qualify for 100% tax free IHT on AIM shares at point purchase it must qualify for BPR. Now one criteria was that the stock can not be listed on another exchange. SQZ left the Canadian exchange in, I think 2015. So if purchased before this point there may well be a qualifying issue. Just a thought!
**Please do not take this as professional or financial advice.**
atb
I'm not at all keen on a main listing. I like the fact that this is (currently) exempt from IHT, if held for 2 years.
Sasa, main market move would be a major plus in my book, very underestimated imo by the PI's, something I would love to see happen this year.
Roger that, NewK - as you rightly say, becoming an income generator, too, will attract additional investors in this low yielding environment and, all the more so, if and when we move up to the main mkt - hopefully, we'll learn more about that in April as well...
The Instos are often drawn to a 'go - go' stock with a decent yield applicable - sasa.
Yeah I’d hazard a guess it will be roughly in line with it’s peers. However I personally still hold this as a growth stock so won’t be too deterred if it is a couple of pence.
Still very optimistic for the next 2 years.
sasa,
With you on that one. 4/1p split as I mentioned in an earlier post.
The fact that divi's are to be announced will attract real investment seeking funds, has to be good in itself.
As shown in the Jan presentation, SQZ has more than plenty to be getting on with to add significant value without the need for an acquisition.
Although, we are all wishing for another BKR style deal ..... our BoD, blindsided us once, they can do it again.
atb
FWIW, Jack, I'm going for 5p ps as the maiden divid to be announced with the 2019 figs in April.
This is based upon the published 22p eps for 2018 (4.4 x covered) when we were on the initial 40% share of the BKR revenues. The 2019 figs. coming up are based on our 50% share of those revenues + a good contribution from Erskine (out of action for 9 months last time) v lower gas prices for 2019 but part hedged at 35p per therm.
Taking these factors into account, the eps could be 30p ps or more for 2019, giving ample cover for a 5p ps distribution and costing some £13.75m - quite conservative, imv and would be in line with SQZ's 'sustainable' divd policy mentioned.
The shs would then yield 3.6% at 138p (roughly akin to RRE's forecast yield, interestingly) and, bearing in mind we're on a 60% BKR revenue share now with op. costs impressively down to $13 per boe v $18 boe hitherto, I doubt whether such an initial payment would crimp any major deal they would be considering. Just my take on this, anyway - sasa.
One sure way to get the price to the level where it should be is to announce a dividend of 20p.
Inmo
My money is on a 4p initial dividend to announce to the market .... SQZ are here !!!
Interim of 1p to follow.
Out of the park curved ball, could be a special one off dividend return of capital to shareholders .... now that would be something to grab attention of dividend hunting fund mgrs.
Must remember that dividend payment provide some stability for funds and hence are looked upon favorably by their mgrs.
atb
Will be quite pleasing to see this growth stock pump out a bit of income for us SHs. Anything close to 4p for the year would be satisfying- only cost ~£10million. Whilst not affecting too much for future acquisitions.
What do people deem to be appropriate?
Maybe tipped in IC tomorrow. We just need gas prices to firm a bit and this should start to gather momentum inmo
Held well again today ..... (-0.7%)
Noticed the large 50k and 100k share buys. Have not seen these size of buys for a very long time.
Could we be attracting dividend hunting funds at last !
atb
Is this update the catalyst we have been waiting for to break and hold 146p to move us into a new trading range ..... topped out just short today ..... tomorrow is another day. Held firm today nicely though.
atb
Ive always hoped that there would be a merger between the two, but Rock Rose seem more aggressive in their pursuit of assets. So I wouldn't be surprised if they try and bid for us, but they would need the board on board to be successful. Also to run BKR as efficient as Serica they would need to employ most of the board and current employees inmo
Or we could buy Rockrose!
I’d love rockrose to buy Serica, more so after yesterday’s update. Great company
I would hope they’re being more proactive, it’s no good just pointing shareholders to a presentation that contains all in the figures, you (I) want to see them in black & white straight away in the RNS for them to have any effect, I personally then look & read the presentation later on when I have time, I hope they continue in this way.
I was thinking in bed last night ................. hummm
Did we have a Corporate Update last year in Jan or year before, as I couldn't remember one !
No, we didn't, so why one this year? SQZ were very quick off the mark with quite detailed ops figures and flash presentation, not something you put together in a little over a week after the Xmas break. To me it is almost a 'for sale' flyer, showing what we are all about. Just wondering if we have been approached and SQZ want a few more to join the party! After all, the response by the market was un-expectantly extremely positive .... or could just be our board being pro-active.
Probably just me spending to much time thinking in bed !!!! (at my age, glad I can still manage that)
atb
Looking at improving recovery too from current fields.(p16)
"Infill drilling: Serica is evaluating infill wells for the Bruce reservoir...."
Clear hedging also in place adding to our current BKR hedge with BP. (p9)
Fiscal stability, name of the game here.... wonderful
Latest update:
https://www.serica-energy.com/downloads/presentations/Serica%202020%20Corporate%20Update%20Final.pdf