Member Info for NewKOTB

Nimrod ...

No new gas price hedges added since July 2021 due to extreme market volatility
• Downside protection for over 20% of projected gas volumes already in place for 2022
• Servicing additional fixed price hedges not practical during such extreme volatility
• Pricing for floor puts has not responded adequately to the market price surge
• With the majority (>80%) of Serica’s oil and gas production unhedged the
company is benefitting from the current high gas and oil prices
• Serica hedges to provide downside protection in the event of low commodity
prices
• Allowed Serica to maintain its investment programme through the 2020 commodity price downturn
• Existing hedges are in the form of swaps and equivalent fixed price instruments
• In 2021 Serica hedged ~25% of gas sales (or around 20% of combined oil and gas
production) adjusted for net cash flow sharing.

p11 - Presentation.
https://www.serica-energy.com/downloads/presentations/Apr-22-AR-Presentation-Final.pdf

Reported ETA:
2022-07-04 19:00 LT (UTC +1) .... :-)

Ops, sorry, mixed my investments up, probably due to be sidetracked with deliberating over my choice of menu item for our Xmas party to celebrate reaching +500p/s although little disappointed not having been given option of lard sandwich ( For all you youngsters out there, don't know what you are missing !!! )

... should read:

As for 'SQZ' ... would be nice to invest outside of NS, if nothing more than to highlight to Rishi the failures of the WFT.

atb

sasa, "we all know how SQZ are not keen on 'overpaying' for anything...."

Bet their Xmas parties are a scream. Bring your own booze, food however is provided .

MENU:
Cheese n Pickle sandwich
Pickle n Cheese sandwich
Cheese sandwich
Pickle sandwich
Or my favourite , Bread n Butter.

As for CHAR ... would be nice to invest outside of NS, if nothing more than to highlight to Rishi the failures of the WFT.

"The pipeline is increasing from 12 inches to 14 inches thereby increasing daily production and hence npv...."

Nice, that's around 35% ADDITIONAL capacity.

About to head out into Moray Firth from Cromarty .... then onward to drill location.. :-)

https://www.marinetraffic.com/en/ais/home/shipid:738026/zoom:10

Looks like PBLJr is under-way .... probably arrive on location early to mid next week.

aimo

sasa,

As I said, news to me regarding Serica's previous approach towards CHAR too.

One thing Jimmy posted was "with their strong share price, I think they could try again...." That implies any transaction would be share based, either full or partial payment. SQZ have the ability to issue up to 10% equity without shareholders approval, some how I would have thought any deal may require considerably more than 10% (~£75 m). A merger of the two would be an intriguing scenario given CHAR exposure and experience / knowledge in transitional power.

https://www.chariotenergygroup.com/operations/transitional-power/

Alternatively, simple farm-in to expedite the Moroccan gas extraction would my preferred route so as we retain the upside of NE should it prove commercial. It could of course, swing both ways, that is, offering CHAR an equity share in one of our fields as payment. That would allow CHAR to possibly self-fund Anchois to production with little to no additional dilution. Interesting times for both companies atm for different reasons.

aimo & dyor

All it will need is for Putin's cyber army to disrupt any of the main utilities, ones I hope that don't use DARK and for the press to go wild on it.

The downside is more protection that is put in place should reduce successful attacks, hence less media exposure taking firms like DT out of the limelight for PI investors. DT should report on how their products have managed to stop attacks, clearly they would no be allowed to name names due to the customers commercial restrictions.
aimo

So of the ~1.8m shares traded on Friday around ~1.2m were acquired by ourselves, then 2pm and our SP gets hammered .... I'm 100% sure it was a concerted attack on our SP upon release of the 2pm RNS based on generating fear and probably triggered by auto BoT's trades that read the RNS and algo's wrongly interpreted it triggering the madness that followed on relatively low volume. aimo

Could explain recent SP weakness outside of the current market woes and recent WFT, should SQZ want to t/o Chariot's Moroccan assets then either RBL will be required or an equity raise / offer. Our current ~£420m cash will not cut it esp as we have ~£150m presently lodged with counterparties as security, I would much prefer farm-in.
Of course a merger could always be an option, esp as of today ACW has stepped down as Executive Chairman, leaving just two Directors that are non-exec of our board. Both share prices are struggling to gain traction of any sorts recently too and CHAR long awaited CPR that was said to be issued 'shortly' has yet to be released.
Takeover of CHAR would be a massive departure from SQZ path of steady organic growth and certainly very high risk compared to that of BKR but equally could prove to be very high rewards too.

aimo & dyor

Interesting comment about Serica and Chariot, not sure about how factual Jimmy's comment actually is !

"I believe that Serica previously approached chariot about a takeover, with their strong share price, I think they could try again..."

See BlackRock are doing their party piece, 'Oh the Hokey Cokey ....'

Back above 5%

"Maybe Chariot's Anchois developmnet would be tempting......"

Agree, we have discussed that very option here before. As a farm-in for sure as there is no way CHAR would let that go for less than $1bn imo once CPR has been released.....
Also hold CHAR so would be no complaints from me.

aimo & dyor

Reason for fall .... Chart needs tidying up, probably complete early next week, ready for move to new ATH at some point in Q4.

aimo

Economy means nothing to Putin, people mean nothing to him, lives mean nothing to him .... it's all about wining and KGB tactics used to do so.

aimo

"Two very confident AGM statements that endorse the view that Serica is amongst the best companies in the sector with absolutely top quality management. Unchanged guidance, cash with lodged cash of £396m at the end of May and with news of an interim dividend of 6p come September. At these prices SQZ is a gift….."

https://www.malcysblog.com/2022/07/oil-price-san-leon-hunting-serica-lamprell-and-finally/

Used current DA average @ 160p/therm

MOSCOW. July 1 (Interfax) - Nord Stream AG will shut down both strings of the Nord Stream gas pipeline from July 11 to 21 for scheduled repairs, the operator said in a statement.

LOL, what are the chance Putin will make sure it doesn't comeback online as scheduled. Last thing Putin wants is for EU to build up its stocks ready for winter.

https://interfax.com/newsroom/top-stories/80867/