Member Info for NewKOTB

chinch, Sorry buy you are wrong, "BKR is down 5,000 Boepd from the presentation", actually down only 2.5k, and to be expected after Fourties pipeline shutdown and restart in Jan. Yes, Erskine is still not producing, but they are installing a parallel and permanent solution to the pipeline wax problem is being advanced to stop this issue in the future. Also production lost is only 2k as detailed in previous update, not 3Boepd you state. Deals of this magnitude always take time, do not forget regardless of how long it takes our slice is taken from 01/01/18, so make no difference to us in reality. In effect it benefits us, just read the transaction details document. No change on Rowallan and Columbus or farm in as these will be RNS separately as and when situation dictate. Excellent buying opportunity imo Anyone following SQZ would be aware of all this.

In line with expectations however didn't stop mm having 'fun' on opening

Operations Update London, 9 March 2018 - Serica Energy plc (AIM: SQZ), an independent oil and gas company with production, development and exploration licence interests in the UK North Sea and exploration interests in Ireland and Namibia, hereby provides an operations update. UK North Sea Erskine Field As announced on 22 January and 29 January a blockage occurred on the Lomond to Everest condensate export pipeline during routine cleaning operations. Following deployment of specialist pumping equipment, some communication across the blockage has been achieved and the plan is to continue with pressure pulsing until significant breakthrough. In parallel, a permanent solution to the pipeline wax problem is being advanced. Further updates will be made in due course. UK North Sea Bruce, Keith and Rhum Fields Since restart in January, following the shut-down of the Forties pipeline, Bruce, Keith and Rhum fields (BKR) have produced on average approximately 16,000 boe/d net to BP. Serica has agreed to acquire BP's interests in these fields with an effective date of 1 January 2018. Subject to completion of the transaction, which is anticipated in the third quarter of 2018, Serica will receive 40% of the net cash flow for BKR in 2018, rising on a stepped basis to 100% in 2022. Commodity prices for the year to date have been stronger than seen in recent years, with NBP gas pricing averaging 52p/therm and Brent oil pricing averaging $67.50/barrel.

Gas Discovery at SAH-2 well, Morocco SDX Energy Inc. (TSXV, AIM: SDX), the North Africa focused oil and gas company, is pleased to announce that a gas discovery has been made at its SAH-2 well on the Sebou permit in Morocco. The SAH-2 well was drilled to a total depth of 1,304 meters and encountered 5.2 meters of net conventional natural gas pay across two zones in the Guebbas and Hoot formations with an average porosity in the pay section of 33%. The well came in on prognosis but with a reservoir thickness above pre-drill expectations. The well will now be completed, tested and connected to existing infrastructure. SDX expects to provide a further update on testing results in early April. Paul Welch, President and CEO of SDX, commented: "We are very pleased to be able to announce another discovery, the fifth from seven wells drilled to date in our nine well Moroccan campaign. This was also the first well in the Gharb basin that was successfully drilled using downhole directional tools which allowed us to penetrate the crest of two individual targets with a single well-bore. We will use these tools when drilling our next well, LNB-1, an exploration well in our Lalla Mimouna concession, for a similar reason. By successfully targeting the crests of specific horizons, we now have the ability to improve the recovery efficiency from individual wells. I look forward to updating all our stakeholders on the production testing results of the SAH-2 and the spud of the LNB-1 in due course."

DGR1980, The thing is nothing has changed for those who want us, they will still want us !! .... we are still in demand but our negotiating stance has been and is being strengthened as time goes by.

Bonker99, Agree 101%, clear as day as to their future strategy. "IMO, they've just pushed the character needle of this from solid investment to short-medium term trader cos they're not exactly screaming confidence in the ability of the SP to see particularly high heights, or at least stay there once it makes it and who knows why that may be?..." To me the award allows for significant dilution and still achieve the milestones set from a very low base. As I mentioned before, there are many ways to achieve a $1bn company.

AIM is no casino, unless you are a PI of course. 12 month low ..... lol in deed

Ready to bounce, I hope so. All indicators are showing this should turn shortly. Still think we need to pop a tad lower before the bounce, but who knows. That would depend upon our seller and their objective. gl

52 Week Low 43.25p and here we are sat at 44.25p, +2.5% up on the year. You can now get better returns from the high street banks. Given the shenanigans with the SP, I can see us even losing that gain. Given the drilling success, cash build, debt free and near term catalysts, who is still selling this down, but more importantly WHY. Sure we will be last to know as always. gl

AveryB, Thanks. "In particular, a PEG of 0.04 implies that Serica shares are still yet to price in almost the entirety of the company�s forecasted growth. It is for exactly this reason, the forecasted growth that Serica offers, partnered with one of the lowest PEG�s that you will find, that warrants its place in our top stock picks for 2018...." Says it all imo. The recent hammering of the SP down from +90p to 70p is no reflection on the company, just buyers wanting in. gla

Wholesale gas cost 58p per therm (p/th) on Friday - up 14% since Monday - putting prices at a three-and-a-half year high. It follows a surge in wholesale prices last December when the major Forties gas pipeline in Aberdeenshire shut, which carries crude North Sea oil. SQZ should be moving up on this alone .....

Where is this idea of selling come from, they moved above 5% from an none notifiable position according to the RNS, so they increased their holding, have they not !!! "Position of previous notification (if applicable) N/A" "Resulting situation on the date on which threshold was crossed or reached - 5.0572%" http://www.lse.co.uk/share-regulatory-news.asp?shareprice=SQZ&ArticleCode=4uhr928l&ArticleHeadline=TR1Notification_of_Major_Holdings

Many other +ve SP movers due possibly BEFORE completion of BP deal so to say we are dependent upon gas prices is incorrect.

Big bounce on crude today, with gas looking like it will follow.

Interesting point DGOC policy is to pay c.40% of free cash flow to Shareholders, if that was applied to SQZ, it would mean an annual dividend estimated to be 17.6p I believe. Something for the board to contemplate and would certainly attract top investors.

So DGOC are about to acquire an additional 24,000 wells from which they produce only 17.8 kboe ... what are they using, straws to suck the gas up. What this does show are deals still being done, so SQZ could well be looking for another opportunity, although focus on what assets we have for the moment would suit me fine. "We continuously evaluate complementary acquisitions which will add value and bring further strategic balance to Serica�s portfolio. .." .

Woww...... "Chairman Tony Craven-Walker talked of a win-win, ........... future oil production which is expected to rise 16-fold." 16 fold production increase, first time I have seen this quoted ... last time it was 7 fold. So instead of going from 3k boepd to 21k boepd, we are looking at targeting production at 48,000 boepd

Make some comparisons against Ithaca takeover by Delek for $646m ( �467m today's money) when production was at 9.3kboepd with reserves similar to SQZ (Inc Rowallan) would value us at �1.77p ..... Now double / triple production to match SQZ and cash on hand you should be looking at +�4.00 t/o

Our core net assets are worth 134p (�355m) atm, with expected net profit of $83m for 2018 and ending 2019 with $193m on our balance sheet. With current Mcap <�200m you can easily see an investment case here. Our SP is way, way too low given how much cash is being thrown off here daily and the II know it. With Rhum-3, Rowallan and Columbus coming on production, highlights the issue even more, 2020 we could well be a t/o target if not before. Strong reasons to buy, particularly at sub 85p for a secure, cash rich NS operator with enormous potential and no real debt imo. This is an investors stock not a traders one but given the recent SP shenanigans traders could have done well. gla

Posted again as the first time it hasn't shown, problem with LSE I guess .... again !! HBLU, Indeed, initial guidance was set at 18.5kboepd, so at 21kboepd, we are circa +14%. You are indeed correct the last ops update 29/1/18 stated "production rates have routinely been in excess of 20,000 boe/d net ..." for BKR So we are looking at production at circa 24,000boepd for a company of <�200 Mcap. No debt as such and huge potential to increase the production to 30k - 35kboepd by EoY with just re-entering R-3. With Columbus first production could be as early as 2019, route dependent. Our cash position is very good, $34m at year end. With tax allowance partially used to off-set BKR deal, next set of financials will look very attractive imo. Rowallan exploration well in H2 2018 looks extremely positive with fully carried with a 15% interest could add 50% to our reserves. Farm-in this year is likely imo at either Namibia or Ireland, both would be fantastic. Other than that, pretty boring (lol) and undervalued cash rich company. GLA