RE: Serica2 Jun 2026 09:42
Obviously Serica statements of today needs more clarity !
The rig tender is for a firm period of 400 days, with the option for further extensions. The initial 400-day phase could potentially deliver a three-well programme at Bruce, with optionality for either decommissioning work and/or an additional development well at another asset. The estimated pre-tax cost of the Bruce infill programme is around $400 million for drilling, completion and necessary facilities modifications. Capital spend on Bruce is highly tax-efficient, and is expected to benefit from up to 84.25% tax relief based on the prevailing tax regime.