Member Info for flexmw

Nice find NQM 👍🏽 any links?? thanks

NS related - Enquest ….

https://www.lse.co.uk/news/enquest-selling-stake-in-north-sea-golden-eagle-oilfield-sources-say-xwcfw31pmvlovon.html

A pair of very large late trades reported….. :

15-Apr-24 12:53:36 205.40 1,993,000 Unknown* 4m O

15-Apr-24 12:50:51 205.40 1,993,000 Unknown* 4m O

NS related & Serica get a mention…

https://www.energyvoice.com/oilandgas/north-sea/exploration-production/551457/table-the-20-firms-commanding-the-uks-north-sea-oil-and-gas-hubs/

A couple of large late trades reported :

09-Apr-24 16:06:53 196.00 565,719 Unknown* 1m O

09-Apr-24 16:07:46 196.00 565,719 Unknown* 1m O

COSL rig heads for UK to kick off Serica Energy campaign

https://www.energyvoice.com/oilandgas/north-sea/exploration-production/551451/cosl-innovator-rig-serica-energy-uk/

Going on last years Results schedule, we will possibly have an RNS tomorrow/Monday with the date given for 2023 full year results announcement & also an Investor Meet Presentation to follow on, which I’d expect to still be hosted by Mr Flegg, so will be a good opportunity to ask him some questions… I’m sure you’ll come up with a few Upomega…

A few NS companies I follow have made separate announcements on the day prior to their full year results.. would be nice for something positive prior to ours… wishful thinking….

Well planning activities underway on the exciting Skerryvore exploration targets

· Parkmead has successfully driven forward the Skerryvore project, alongside its strong industry partner group on this licence

· Good progress has been made on well planning, site survey contractor selection, and the identification and sourcing of critical path long lead items

· The crucial offshore surveys are currently scheduled to take place in the second half of 2024, to deliver the planned well in early 2025

· This exploration well will penetrate the Tor and Mey intervals of these stacked prospects, which represent the targets which are the largest and with the highest geological chance of success

· The Company is looking at all options to maximise the commercial benefit by collaborating with other operators to share fixed costs such as rig mobilisation

Ithaca clearly still see value in the NS.. exclusivity agreement signed that takes them over 100k’s boepd but no guarantee of completion at this stage..

Ithaca Energy plc ("Ithaca Energy" or the "Company")

Exclusivity Agreement for a potential transformational combination with Eni S.p.A.'s UK Business

Ithaca Energy, a leading independent oil and gas operator in the UK North Sea, today announces that it has entered into an exclusivity agreement (the "Exclusivity Agreement") in relation to a potential transformational combination with substantially all of Eni S.p.A.'s ("Eni") UK upstream assets including the recently acquired Neptune Energy assets, excluding certain assets including Eni's CCUS and Irish sea assets (the "Potential Combination").

Number of trades are up today & the first day for a while where we have the matching trades reported :

25-Mar-24 16:35:59 184.80 123,000 Sell*. 227.30k O

25-Mar-24 16:35:47 184.80 123,000 Sell* 227.30k O

25-Mar-24 16:35:27 184.80 248,159 Buy* 458.60k. UT

Add to that Mitch Fleggs in attendance:

I look forward to joining colleagues tomorrow for @Jefferies 4th annual Pan-European Mid-Cap Conference in London #energy #oilandgas

https://x.com/mitchfleggceo/status/1769817467876962444?s=46&t=uz3in5yMdDdYvqnOjeh9vg

Latest Serica Energy tweet…

We look forward to joining @Jefferies 4th annual Pan-European Mid-Cap Conference in London tomorrow; an excellent platform to discuss market trends and opportunities and share insights. #energy

https://x.com/sericaenergyplc/status/1769793728334434489?s=46&t=uz3in5yMdDdYvqnOjeh9vg

A basic & quick look at the chart of Uk natural gas (set to All) & you can see we’ve pretty much returned to the normal prices experienced prior to 2022.. just part of the cycle ….

https://tradingeconomics.com/commodity/uk-natural-gas

We could now do with another update between today’s production news & the upcoming results to keep some momentum going.. hopefully they RNS Erskine back up & in production with some figures … when the time comes…

Same pattern with the UT trade & the paired volume trades.. largest of the recent UT trades to date…

07-Mar-24 16:35:05 183.20 1,044,080 Buy* 2m UT

07-Mar-24 16:47:01 181.092 27,205 Unknown* 49.27k O

07-Mar-24 16:47:01 181.092 27,205 Unknown* 49.27k O

Chairman David Latin increases his holding :

20463 @ 180.04p

Now holding - 182717

Interesting…. Mitch to follow??

Or the CFO & Neds are under pressure from Monsieur Flegg to get buying in order to get his recent share purchases in profit!! He’s not comfortable being down on his buys… 💰

CFO Martin Copeland Share Putchase..

19000 shares @ 179.2p

Initial interest

Would be nice if this was listened to by those in Government!! but at least Mitch came out & said it ✅

‘It would be remiss not to express considerable disappointment with the extension of the EPL announced in the Budget yesterday. Current oil and gas prices do not represent windfall conditions for UK producers and increasing the tax burden on domestic oil and gas production again will be damaging for UK jobs and the economy. The achievements delivered by Serica have added to domestic sources of energy. The kind of approach exhibited in the Budget will lead to more imports and reduce the ability of our industry to enhance the UK's resilience to potential energy shocks in the future."

2023 Year End Reserves and 2024 Production Update

1]

· Net Proved plus Probable ("2P") reserves at 31 December 2023 of 140 million boe, up 10 million boe from 130 million boe at 31 December 2022 despite producing 14 million boe in 2023 on a proforma combined Serica and Tailwind basis

· Overall 2P reserves additions of 24 million boe during 2023 representing a reserves replacement ratio of 179%[2]

· Over 90% of 2P reserves in fields that are already in production

· Even split of oil and gas reserves

· Average net production in January and February 2024 about 45,500 boe per day

· Production guidance for 2024 remains at 41,000 to 48,000 boe per day

Mitch Flegg, Chief Executive of Serica, said:

"I am delighted that Serica has maintained its record of more than replacing reserves since 2018, with the company ending 2023 with higher reported reserves than from the combined Serica and Tailwind portfolios at the start of the year even after allowing for the oil and gas we produced in 2023. Nearly all the additions to reserves reported today are associated with fields that are already producing which limits incremental emissions. This record of delivery is a testament to the hard work of our staff and the underlying quality of the asset portfolio.