Member Info for flexmw

Blackrock further increases position, 5.07 announced last week to 5.25%

Latest Serica Energy tweet, Mitch is presenting at ‘The Worlds Energies Summit’ this week:

https://x.com/sericaenergyplc/status/1706314980608319771?s=46&t=uz3in5yMdDdYvqnOjeh9vg

https://x.com/mitchfleggceo/status/1706318580361339183?s=46&t=uz3in5yMdDdYvqnOjeh9vg

Here’s another one to use for day ahead pricing, I think Newkotb originally shared it with the board :

https://www.marex.com/services/data-advisory/market-data/mmdi/

UK Natural Gas

NBP All Day D.A NBP D.A. 25/09/2023 22-Sep-23 5,625,000 105.000 100.000 102.451

Hi Chinch,

Totally agree, most mid/long term’ers know the familiar pattern Serica maintain, could be different going forward with the new Bod members, this Steve Edwards may turn out to be more of a driving force going forward.. so we will see..

Just had chance to catch up on this week’s presentation, the first question on M&A & MF’s response for those who’ve missed it:

“We have been & remain in discussions on more than one opportunity in Norway, & we are looking at things in other European Countries as well, this is a .. we’re in a classic M&A position right now.. the question is, well no.. the reality is we’ve seen assets that could work for us, but can we find the right price… can we find a price that works for the seller & the buyer… & you know.. and that’s where we are with those discussions at the moment, but what I can say is that… you know we are not going to do a deal for the sake of it, yes we would like & I’m sure Steve.. I was talking to him a moment ago, I’m sure Steve would agree with me, we would like to make that entry .. but not at any cost, we’re not just going to overpay in order to get into something just because it’s a different country, if we can find .. the right asset with the right profile & the right environment… we we.. at the right price we will do it.. .. but … yeah that’s that really all I can say on that…. “

Minus all of the ‘erms’…

Personally thought it was a good presentation & Q&A..

Any body have any thoughts on a possible easing of the WFT/EPL after today’s announcement by Sunak.. more so with the easing on the ban on Gas boilers catching my attention… my view is it would quite easily go hand in hand on dropping it with the easing being one of the reasons, or part paves the way…. might be the start of all the education received by MF …

Liz Truss is calling for it to be scrapped after today’s announcement… not t that she holds much clout but still a voice…

Funny that Mommur I saw this first thing & thought the same, announcement by Orcadian the day before results etc…

Orcadian Energy

Proposed Farm-in to the Pilot Project

Farm-in Highlights

· Orcadian has entered into a non-binding Heads of Agreement ("HoA") with a North Sea operator (the "Operator"), which details a potential farm-out of the Pilot development project.

· This is a provisional agreement and there can be no guarantee that any transaction will occur. Any deal is subject to, amongst other matters, completion of due diligence; negotiation of documentation; and various regulatory and shareholder consents as well as Board approvals of the Operator and Orcadian.

· Orcadian has granted the Operator a commercial exclusivity period until 30 November 2023. to complete definitive documentation for the overall deal.

Nice little plug :

🛢️North Sea oil and gas producer, #SQZ Serica Energy has just moved to a 90+ StockRank again on @Stockopedia. The company boasts exceptional quality and value characteristics, and momentum could start to pick up again after H1 results are released next week. Not many stocks are cheaper on the UK market right now...

P/E (f) : 3.1

PEG (f) : 0.9

P/FCF (ttm) : 2.2

Dividend yield (f): 7.51%

https://x.com/keelancooper7/status/1701857408136409437?s=46&t=uz3in5yMdDdYvqnOjeh9vg

Jacob Rees-Mogg with his view on the WFT…

https://x.com/gbnews/status/1699504277226402290?s=46&t=uz3in5yMdDdYvqnOjeh9vg

Gas

September the last month of the remaining known Gas Hedges….

Will we see more put in place come the interims…. will Mercuria pull rank & insist on hedges through their trading arm….

Last year’s September Investor meet presentation Mitch was asked where would Serica be in 12 months time - his reply was along the lines of ‘A much larger producing company having completed several deals’ …. times running out on that one..

Seems to be doing the rounds today Newkotb.. could be a boost to Serica…

‘The prime minister will emphasise the need to strengthen Britain's energy security when he meets industry leaders this week.’

https://www.bbc.co.uk/news/uk-politics-66350481

For anyone interested in Andrew Austin, NS talk with a few snippets of interest check out this interview…. now if only our bod where aligned with its shareholders…

https://youtu.be/VNCrE0sOdNA

I saw the Jefferies price target cut, noted Harbour had the same treatment…

Jefferies cuts Serica Energy price target to 290 (325) pence - 'buy'

All most to the day (12th July 2022) Kistos announced the proposed combination of the two companies… certainly added in the rise to our peak..

I totally get the feeling I think Maverick is referring too.. one most of us know well.. Serica - MF talks the talk but seems to not walk the walk.. pretty sure in the recent Shares Investor Presentation he said he needed to get on the front foot (or words to that effect) in relation to our share price/market cap.. i’m not seeing anything yet.. buybacks is an obvious as you say Newkotb at these levels.. i’ll be shocked the day that RNS turns up.. I just hope there’s a lot of action behind the scenes.. i’m sure we all do.. otherwise it will be the same old wait until September interim update 🙁

AGM Presentation link :

https://www.serica-energy.com/downloads/presentations/2023%20AGM_final.pdf

Strong numbers Newkotb - averaged 52,725 boe/d for the second quarter… planned maintenance going forward..

Only thing missing on first glance is cash numbers on the books at 31st May, which would of been good to know….

Sasa,

An overseas acquisition would be preferred by most, mentioned as you say in previous Investor Meet presentations, but something picked up on, I think in one of Newkotb links from the Shares Investor Event a week or so ago :

MF -

“Continue to grow the portfolio - more assets out there in the North Sea, a number of assets just not economic for the majors to work on… we think we can step in & do those…”

Latest Serica Energy tweet :

Thanks to @Moceanenergy for hosting a fascinating visit to the Serica-sponsored Blue X wave energy converter, now in action off the coast of Orkney and designed to harness the clean, carbon-free energy created naturally by ocean waves #RenewableEnergy#orkney #WaveEnergyScotland

https://twitter.com/sericaenergyplc/status/1670751246347534336?s=46&t=uz3in5yMdDdYvqnOjeh9vg

Extract taken from the Parkmead RNS released earlier in relation to the Skerryvore prospect that we partner in :

Skerryvore

In the UK Central North Sea, Skerryvore is an exciting area which, despite the new fiscal and regulatory challenges, could be developed in a timely and cost-efficient manner. Parkmead is therefore planning to drill this high-impact well as soon as possible. As the Operator, with a 50% stake, Parkmead is making excellent progress with well planning and vessels and rig tendering with a current forecasted spud date during Q4 2024. Parkmead has two strong industry partners at Skerryvore, in Serica and CalEnergy.

The well is targeting an estimated 157 million barrels of oil equivalent from multiple horizons on the flank of a salt diapir. Skerryvore is surrounded by modern infrastructure which provides the opportunity for a number of low-cost tie-back options which, in the success case, would allow a highly economic development of Skerryvore to proceed at pace.

Fair sized Uncrossing Trade today :

15-Jun-23 16:35:09 250.40 213,992 Buy* 535.84k UT