Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
I am a holder here and very happy today but question for those who may be in both UJO and RBD - is it now worth thinking about buying into RBD too?
would you just give some genuine reasons/pointers as will also do my own research soon.
thanks in advance.
Firstly I want to pass on thanks to DW & the team for getting to this stage safely and so far productively and secondly this sets us up for far stronger FO negotiations so carry on the good work!!
For now, I will be eagerly waiting for the wireline log results before topping up to reach my initial target shareholding so GLA!!!
https://hotcopper.com.au/threads/ann-corporate-governance-statement.4651929/?source=email
Why is there a need to issue this now?
Would have thought it was already in existence though not yet checked?
exciting times imo !!
For any company when it has reached a consolidation stage from which to progress from, it will need debt and if we don't get any future deals on similar terms as before, then getting them with debt will not be a bad thing IMHO. Long as the figures add up and cashflows continue without any dilution to shareholders, I will be for hoping for it.
GLA
just for those who can't access whole article:0)
INSIDE THE CITY
Serica to enjoy fruits of North Sea
Rachel Millard
January 6 2019, 12:01am,
The Sunday Times
Asia
Middle East
United States
Energy
Serica’s shares nearly trebled to 90p when the North Sea deals completed
Serica’s shares nearly trebled to 90p when the North Sea deals completed
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Oil companies are particularly beholden to global political forces, but Serica Energy had a tougher time than most when US-Iranian relations threatened its plans in the North Sea.
Serica’s deal to buy BP’s 50% stake in the Rhum field, northeast of Aberdeen, was nearly derailed by US sanctions on Tehran last year because the National Iranian Oil Company owns the other half of the field.
Rhum— which accounts for about 5% of North Sea gas — risked being shut down, but frantic negotiations followed. Bosses managed to find a solution that satisfied all sides and the deal was completed in late November.
That, along with recently acquired stakes in the Bruce and Keith fields next door from BHP, Total and Marubeni, has increased Serica’s production tenfold in less than a year. It now produces about 26,000 barrels a day, leapfrogging peers such as Cairn Energy and Faroe Petroleum. The portfolio is significantly weighted towards gas, protecting it somewhat from fluctuating oil prices.
Analysts at Peel Hunt believe Serica profits will shoot up accordingly — from an expected $9m (£7.1m) last year to $175m this year. They predict revenues could rise from $41m for 2018 to about $400m in 2019, and the company’s cash will shoot from $43m to about $175m.
Led by former Shell and BP acolytes Tony Craven Walker, executive chairman, and Mitch Flegg, chief executive, Serica has been relatively low-profile but analysts and investors are starting to sit up and take notice. Its shares nearly trebled to 90p when the North Sea deals completed and have continued to climb to 120p. Yet there is more scope for gains, with some analysts convinced they could yet go above 160p.
Serica also has licences in prospective areas south of the BKR fields including the Rowallan, Columbus West, Skerryvore and Ruval fields — all areas of the North Sea.
Drilling started at Rowallan’s exploration well, which is operated by Italian oil giant ENI, on New Year’s Eve, with a better picture of its prospects due early this year.
Serica expects to start producing from the Columbus field in 2021. Management are also believed to be looking at other opportunities.
A business extracting oil and gas in the UK North Sea will have a finite life — the basin is waning along with investors’ enthusiasm for fossil fuels. But Serica looks increasingly well placed to do well for now, even as the world changes around it.
Buy.
@RachelMillardST
1. All - Thanks for all the comments - happy for negative comments (re the subject of charts etc) too by the way. 2. Gillpat (and others to use if req'd too) - here's a temp email address to use - happy to give my normal address on this contact once i have yours if poss. regards
1. I would like to extend my sympathy to any genuine shareholders that have lost unbearable amounts of money here and, 2. I would like to request gillpat and anyone else that may be willing to assist in offering any help in providing information as a starting point to enable me (& others too) to learn about charting/trends & tools to enable me to trade after becoming more informed after research (prob still gambling) rather than currently uninformed even after research (still gambling). What would help is not general information but rather specific info that works for you. The rest would be down to me to tailor to my needs. It would be beneficial to either post online where people could make of it what they will or I could provide a throw away or temporary email address later, Thanks in advance for any genuine responses.