Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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.
Major parties in ‘rush to the bottom’ on UK energy policy, says Kistos’ Andrew Austin
https://www.energyvoice.com/oilandgas/north-sea/548916/kistos-chairman-andrew-austin-north-sea-uk-labour-conservative-energy-policy-windfall-tax-epl-gas-storage/?utm_content=177670083&utm_medium=social&utm_source=twitter&hss_channel=tw-1379070162
RISHI SUNAK: ‘I want more oil and gas’
https://www.energyvoice.com/opinion/549142/rishi-sunak-i-want-more-oil-and-gas/?utm_content=177415926&utm_medium=social&utm_source=twitter&hss_channel=tw-1379070162
Mitch Flegg, Chief Executive of Serica, commented:
"We are pleased to have completed this transaction which creates the possibility of adding a third production hub to Serica's North Sea portfolio. As a potential domestic source of oil and gas with a low level of production emissions, a provider of quality jobs for UK workers and a generator of much needed future tax revenues, Buchan is the sort of project the UK needs as part of the energy transition."
Five AIM income stocks for your ISA in 2024
https://www.ii.co.uk/analysis-commentary/five-aim-income-stocks-your-isa-2024-ii530851?utm_source=newsletter&utm_medium=email&utm_campaign=Weekend%20Newsletter%2020240224&utm_content=newsletter&utm_source=sfmc&utm_medium=email&utm_campaign=Weekend+Newsletter+AMP&utm_term=%25%25%3dRedirectTo(%40article2URL)%3d%25%25%3f%25%25%3dv(%40UTM)%3d%25%25&utm_id=151180&sfmc_id=5902060
Skerryvore: The UK North Sea ‘well to watch’ this year
https://www.energyvoice.com/oilandgas/north-sea/exploration-production/548401/skerryvore-the-uk-north-sea-well-to-watch-this-year/?utm_content=176885462&utm_medium=social&utm_source=twitter&hss_channel=tw-1379070162
‘This feels like a betrayal’: Labour plans ‘proper windfall tax’ on oil and gas industry
https://www.energyvoice.com/oilandgas/north-sea/547509/labour-windfall-tax-oil-gas/
Https://www.serica-energy.com/downloads/presentations/Analyst-presentation-Feb%2024.pdf
Newkotb - just for info .. no recorded share purchases for MF looking back through the history… all awarded.. there certainly isn’t anything recorded as a separate director dealings..
Where as Mr David Latin now has four recorded dealings, all purchased by himself & totalling 162,255..
Newkotb..
From your knowledge… did Mitch ever actually buy any of his shares or just awarded them?
David Latin has shown him up on that front if it was the latter…. I fully agree they’re should be more of this…
Well well well… something not seen for quite some time….
David Latin and Malcolm Webb, non-execuitve chairman and senior independent non-executive director (ÒSIDÓ) respectively, each purchased ordinary shares in the Company. Details of the PDMRs who participated in the purchases are as follows:
Shares Purchased Average Price (GBp) Resulting Holding (%)
David Latin Chairman 6 February 2024 117,255 183.7274 0.041%
Malcolm Webb SID 6 February 2024 16,367 183.2917 0.021%
David Latin has quite some experience/history …
David Latin
Non-Executive Chairman
Over 30 years' experience in the Energy sector
OMV Senior Vice President for NW Europe, Africa and Australasia (2011-2017)
CEO and Chair OMV Norway and Chair OMV UK (2011-2017)
Founded First Alpha Energy Capital in 2017, and Talaria Technology in 2021 supporting offshore wind and carbon storage
BP holding a number of global/regional business roles (1993-2011)
Appointed to the Board of Serica December 2021
Committees: Nomination & Corporate Governance Committee