Member Info for flexmw

Following consultation with its joint venture partners in Licence P.2400 (which encompasses the Skerryvore propsects) and having received approvals from the regulatory authorities, the Company is pleased to announce that it has reached agreement to increase its stake in the Skerryvore project from 30% to 50%. Parkmead will continue as Operator on the licence, which is testament to the efforts and capability of the Parkmead team. Skerryvore will be Parkmead's first operated exploration well. Parkmead's joint venture partners in the licence going forward will be Serica Energy (UK) Limited (20%) and CalEnergy (Gas) Limited (30%).

In addition, Parkmead is pleased to announce that it has received approval from the North Sea Transition Authority (NSTA) to enter the next phase of this licence with agreement to drill the high-impact Skerryvore prospects. The Company's geotechnical work programme has confirmed the considerable multi-interval potential of Skerryvore. The planned well will target the main stacked exploration prospects, at Mey and Chalk level, which studies indicate could contain 157 million barrels of oil equivalent ("MMBoe") in the P50, most likely case. The licence also contains additional prospectivity at the Ekofisk and Jurassic levels. A successful discovery could be tied into existing and planned infrastructure in the vicinity.

Hi Mav

I posted this before, worth a look at the drawing, if that’s drawn as stages, & presume 2 stages complete prior to start of 3rd maybe circa 4000 ft, but pure guesswork… need someone with more experience really…

https://www.nstauthority.co.uk/media/8201/serica-north-eigg-right-scoping-lessons-acces.pdf

DRB83

Without jumping in, I saw this tweet last night & read the Bloomberg article…. I think they still need countries to independently sign up to it…

https://twitter.com/chigrl/status/1569713780296146945?s=21&t=SoHxh2Jsi03nRjWWd4Km8w

looks like some decent size buys going in … it’s an opportunity for some.. Mommur??

North Eigg delays :

Drilling operations on the North Eigg exploration well have encountered delays and, following a recent equipment failure and the required mobilisation of a replacement (further details below), operations are now expected to take some six weeks longer to complete than the original schedule.

Operations had been progressing successfully despite some drilling delays in the top-hole sections. During recent preparations for drilling the third section of the well there was a failure of a vital piece of rig equipment during routine pre-job testing. A replacement has been sourced and planning is underway to transport this to the drilling rig.

This will have no impact on the ultimate geological outcome of the well and it is expected that all well costs will benefit from the Investment Allowances available under the recently introduced Energy Profits Levy.

Serica's net well cost after tax is anticipated to increase by approx. £3 million as a result of the delays and it is now expected that results from the

https://twitter.com/sericaenergyuk/status/1569931474211639298?s=21&t=qusq5Q6itES8KwJ9ksxJAA

Saw this over on ADVFN, checked it out myself & thought worth sharing, it’s from Aberdeen Smaller Companies Income trust :

More recently, we added a new position in North Sea based exploration and gas production company Serica Energy ("Serica"). Five years of underinvestment in the North Sea had already led to acute gas shortages even before Russia's invasion of Ukraine. The invasion of Ukraine is expected to be prolonged and lead to a long term embargo on Russian gas across Europe. The consensus on twelve month earnings expectations for the Exploration & Production sector as a whole is strong, which is reflective of forecasts for tight oil and gas markets that are set to extend through the second half of the year, into 2023. We favour Serica against this backdrop as the credential of the business fits our Quality Growth and Momentum process. The management team have a good track record of execution, the balance sheet is net cash and at the recent AGM, management reiterated production guidance and increased the capital return through an additional interim dividend on top of the existing final dividend. This raised the total annual dividend to 15p per share and dividend yield to c5%. The shape and impact of the windfall profits tax on the business is certain, and ESG credentials are strong, reflected in the company's MSCI A rating.

I thought i’d seen it Newkotb, but couldn’t see it as you say, your right about registering, they seem a pretty decent set up…

Investor Meet on 27th September following on from the interims in the morning, register & ask any questions, i’m sure we’ve all got a few!

https://twitter.com/investormeetco/status/1569255405670260736?s=21&t=Y_gz8O15JO33qzmhBbxvhA

Shells Cambo stake is up for grabs.. 30% alongside Ithaca .. maybe to much on the development side though if N’Eigg comes in…

A quick read, NS related :

https://www.thisismoney.co.uk/money/markets/article-11199667/Ministers-woo-oil-gas-giants-bid-speed-growth-British-energy.html

Interims were on Tuesday 28th September last year…

NS1 : interesting from Javier, I can not remember NS1 having maintenance on it like this before..

https://twitter.com/javierblas/status/1565578371521822722?s=21&t=3ctWurYQNXx9fsSZGWVLhg

Newkotb

I thought that regards the odd tweet : Mocean

Some sort of electrification of the platform - green energy - carbon offset kind of thing….

I know one thing for sure.. if that’s the deal they announce.. there will be uproar!! :-)

Bit of an odd tweet (retweet) from Serica Energy :

https://twitter.com/sericaenergyplc/status/1564616883109875715?s=21&t=81rqf6oOa9nCeC1HpqF4tw

Pretty much closed at days high, not a bad sized UT trade :

26.08.22 16:35:23 450.00 GBX 68,960 310,320.00 UT

I saw those back to back 3x 60,000 trades go through this morning Newkotb!!! ;-)

NBP DA - circa 500p per therm .. looks the norm for the days ahead at the moment.

A good visual on it:

https://twitter.com/burggrabenh/status/1562513995625484293?s=21&t=7XQ5AuXorm40fpXIQ0qdAA

Newkotb

What sort of numbers do you make it that we’re turning with DA at 483p per therm?

My rough calcs have it circa £5.5m allowing for hedging (300,000 therms) & opex at £14 boepd (could be lower with increased production) but not accounting for any capex/tax deductions, what do you make it adding to cash on the books at these gas prices..

Much appreciated…

I thought futures prices being in the 600’s was a big deal, we’re now in the 700’s…

DA ~ 400p per therm…
DEC22 718.000 8/22/2022 3:45 PM 12.497 1060

JAN23 742.210 8/22/2022 3:32 PM 16.485 640

FEB23 742.210 8/22/2022 3:32 PM 17.003 515

NS1 :

https://www.bloomberg.com/news/articles/2022-08-19/gazprom-to-halt-nord-stream-gas-link-for-three-days-for-works