Member Info for flexmw

About time the Share Buyback stepped back up - 419,504 shares purchased 14/06/24…

London, 17 June 2024 - Serica Energy plc (the "Company") (AIM: SQZ) announces that on 14 June 2024, it purchased 419,504 ordinary shares of US$0.10 each in the Company on the London Stock Exchange through Peel Hunt LLP, in accordance with the terms of its share buyback programme announced on 24 April 2024 (the "Buyback Programme"). The shares purchased will be held in treasury.

A couple of big old late trades showing up… interesting to see if anything shows up from them…

Date Time Trade Prc Volume Buy/Sell Value

14-Jun-24 15:26:38 144.5165 500,000 Unknown* 722.58k O

14-Jun-24 15:07:37 144.30 548,553 Unknown * 791.56k O

Hi Sasa,

Thanks, i’d say that’s pretty much my view on things also & most likely the majority..

We can only hope…

Sasa

How long will you give the new CEO before you switch completely? I don’t think you’ll be the only one looking at alternatives..

Personally hope there’s a lot going on in the background & we have something worth talking about asap…

Good to sea other North Sea players on the move today … ENQ + 8%, ITH + 7%, HBR +3.4% …. & Serica .. + 0.9%..🤷🏽‍♂️

Deals still looking to be done in the North Sea ….

Viaro Energy in talks to buy Exxon, Shell North Sea assets, Reuters reports

https://www.energyvoice.com/oilandgas/north-sea/exploration-production/554487/viaro-energy-exxon-shell-north-sea-assets/

Share buyback resumed.. anyone else keeping an eye on the numbers.. ?

Following the above, the Company will have 393,468,408 ordinary shares of US$0.10 each in issue, of which 824,087 ordinary shares are held in treasury. Therefore, the total number of ordinary shares carrying voting rights will be 392,644,321.

Did anyone notice this from the 23rd May… I missed it..

In addition, to satisfy certain awards under employee share incentive schemes, the Company has today transferred 4,894,636 ordinary shares out of treasury.

Second day with no share buyback announcement.. interesting to know why …

Purchases of ordinary shares will be made on the Company's behalf in accordance with the agreement with Peel Hunt and may continue independently of and uninfluenced by the Company during any closed period to which the Company is subject and/or if the Company comes into possession of inside information. Under the agreement, shares may be purchased up to a maximum aggregate consideration of £15 million. While the Company has launched the Buyback Programme, there is no certainty on the volume of ordinary shares that may be purchased or any certainty on the pace and quantum of purchases.

Any purchase of ordinary shares pursuant to the Buyback Programme will be announced by the Company by not later than 7.30 a.m. on the business day following the calendar day on which the purchase occurred.

Subsea7 to supply Serica Energy with Belinda pipeline

https://www.energyvoice.com/oilandgas/north-sea/exploration-production/554215/subsea7-serica-energy-belinda-pipeline/

HSE warns Dana over insufficient fire suppression inspections on Triton FPSO

https://www.energyvoice.com/oilandgas/north-sea/553893/hse-dana-fire-inspections-triton-fpso/?utm_content=184932084&utm_medium=social&utm_source=twitter&hss_channel=tw-1379070162

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."

Good on Jefferies to cut their price target today :

Jefferies cuts Serica Energy price target to 225 (260) pence - 'buy'

Malcy’s take on the new CEO :

Serica have gone for a top quality, highly experienced industry heavyweight for their new CEO. Chris has masses of experience at international companies and whilst his most recent appointments have been good companies he has saved the best until last. For once a nominations committee has made a really top call.

Nice to see Martin Copeland CFO purchasing shares today :

London, 14 May 2024 - Serica Energy plc (AIM: SQZ), confirms that Martin Copeland, Chief Financial Officer, purchased 19,000 ordinary shares at a price of 184.9p per share in the Company.

Following this transaction, which is detailed in the PDMR Notification Dealing Form below, Mr Copeland is interested in 38,000 ordinary shares in the capital of the Company, representing 0.009657% of the Company's current issued share capital.

Serica Energy plc

("Serica" or the "Company")

Appointment of Chief Executive Officer

London, 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.

‘Windfall tax weighs heavy on North Sea producers‘

Before you consolidate, you have to put a value on the assets, and it’s very difficult to do that if you don’t know what the fiscal regime is going to be,” said Mitch Flegg, the former chief executive of Serica, who has become an adviser to the company.

https://www.ft.com/content/ceb1d4af-c1c5-4909-aba4-f967aaaba1c3

Copy & paste from BaronInvestments tweet… via Bloomberg…

Bloomberg now saying Serica have bid for the assets...

Serica bid for the assets as it seeks to diversify away from the UK, where it has been hit by the impact of the energy profits levy put in place in 2022. Aker BP, which was created in 2016 by BP Plc and Det Norske Oljeselskap ASA, has continued to expand in Norway, and merged with Lundin Energy’s oil and gas activities two years ago. Deliberations are ongoing, and there’s no certainty the potential buyers will proceed with formal bids, the people said.

'Sval has 70,000 barrels of oil equivalent a day from 15 producing fields, with another six projects in development. The firm has stakes in fields including the Greater Ekofisk Area, Ivar Aasen and Martin Linge, according to its website'

https://x.com/baroninvestment/status/1786331774982746339?s=46&t=uz3in5yMdDdYvqnOjeh9vg

‘Oil and gas seen as ‘devil incarnate’ complains North Sea dealmaker’

https://www.energyvoice.com/oilandgas/north-sea/552748/oil-and-gas-seen-as-devil-incarnate-complains-north-sea-dealmaker/

We made ‘This is money’… yesterday..

https://www.thisismoney.co.uk/money/markets/article-13346543/Tory-windfall-tax-war-killing-North-Sea-oil-Serica-chief-blasts-Labour-plan.html

On MF’s departure, I emailed him at the time, he was adamant to say he’d stepped down & definitely not resigned, at the time I also read Alex Stahel’s tweet that his view - picked up via a phone call with MF that there was a disagreement over shareholder returns.. going on his history I very much doubt he would of sanctioned the Share buyback… maybe even conserved cash further & cut the final dividend…

I noted the new CFO was a little more hesitant regards the dividend going forward & keen to relay subject to the right conditions…