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CFO has been with the company over 20 years in various positions and in his role as CFO since 2023, and with an orderly handover over coming weeks underway I for one am glad to see a new CFO in place and it seems a logical move for all concerned and should be a positive move going forward.

Good move by Cruddas and with the CFO staying on for an orderly handover it will be seen as a good move for the business going forward.

At the Heirs Energies Leadership Forum 2025, our CEO, Roger Brown, shared insights on accelerating oil & gas production, unlocking untapped gas potential, and driving sustainable growth in Nigeria’s energy sector.

Seplat Energy remains committed to innovation, strategic investments, and energy security.

https://x.com/SeplatEnergy/status/1894290744711450629

Good move by Cruddas actually imo.

With the United States, the European Union, Ukraine and Japan all needing to rebuild inventories faster-than-average over the summer of 2025 there will be fierce competition for gas over the eight months to October.

Energy-intensive industrial users in Europe and price-sensitive buyers in South and Southeast Asia are likely to be priced out

n the event of a persistent summer heatwave over North America, Northwest Europe, Northeast or South and Southeast Asia driving higher-than-normal airconditioning loads, the scramble for gas could become intense.

Anticipating tight supplies and a tough refill season, portfolio investors have alreadyamassed exceptionally large bullish positions in futures and options based on gas prices in both North America and Northwest Europe.

In North America, hedge funds and other money managers have accumulated a net long position equivalent to 2,975 billion cubic feet, the highest for more than three years and in the 91st percentile for all weeks since 2010.

Europe’s policymakers, facing another year of painfully high prices for households and industry, will be tempted to blame hedge funds and other speculators (as is always the case when prices escalate rapidly).

But the reality is that the global market will be much tighter this summer than it was in 2024 and 2023 and prices have to rise to restore balance

https://oilprice.com/Energy/Natural-Gas/Why-Gas-Prices-Have-Doubled-Over-the-Last-Year.html

'We have a 120 year petroleum based infrastructure, hell it's in everything, our whole lives depend on it, it's in everything.........we don't have an alternative''

https://x.com/surprised_trade/status/1893973719673958645

'We have a 120 year petroleum based infrastructure, hell it's in everything, our whole lives depend on it, it's in everything.........we don't have an alternative

https://www.tiktok.com/@paramountplus/video/7462832988007451947

https://x.com/surprised_trade/status/1893973719673958645

We have a 120 year petroleum based infrastructure, hell it's in everything, our whole lives depend on it, it's in everything.........we don't have an alternative''

https://x.com/surprised_trade/status/1893973719673958645

'We have a 120 year petroleum based infrastructure, hell it's in everything, our whole lives depend on it, it's in everything.........we don't have an alternative''

https://x.com/surprised_trade/status/1893973719673958645

In this episode of In Good Company, we explore SEPLAT Energy’s impressive stock performance, rising 110% in 2023 and 147% in 2024. Omobolade Agboola, Macros and Equity Analyst at Chapel Hill Denham, breaks down SEPLAT’s fundamentals, the impact of Naira depreciation, and its ambitious plan to double oil output after acquiring ExxonMobil’s local operations.

(spoiler alert very positive outlook with an expected increase in dividends)

https://www.youtube.com/watch?v=saLypmixS8Q

Cash generation and figures are the key aspect, based on today's usual overdone drop the SQZ temporary halt of Triton will NOTcost £78m to the business, which is what the market is saying with a 14% drop.

Why I added a few more today :-)

Key aspect is cash generation and hence why broker states not a material impact as gas price has provided a greater uplift in cash generation than the temporary loss of oil....

''Even assuming a worst-case scenario of FY25 production in line with FY24 (34.6 mboe/d), this would still lead to operating cashflow (after tax and net of financial costs) of ~US$290 mm. This compares with the FY25 capex guidance of US$240 mm''

Broker report 18.02.25

Triton shut down until March: frustrating but unlikely to be too impactful

While the shutdown of Triton is likely to impact FY25 financials, this could have limited materiality for several reasons.

• The FY25 production guidance already factored in 80% production efficiency, including 45 days at Triton (12% downtime) for a total of 68% production efficiency. Assuming two months of shutdown in 1Q25 and a further 1.5 months in 3Q25 implies approximately 70% production efficiency.

The FY25 guidance is based on the P90 profile of the new wells. So far, the wells have performed well above expectations, exceeding our assumptions by 60-100%. Production in February (excluding Triton) averaged 27 mboe/d to date

Given the nature of the required work (welding, …), we expect the costs associated with the repairs to be minimal.

• UK gas prices have been much higher than forecasted so far in 2025 (134p per therm vs. 100p per therm in our model). Even assuming a worst-case scenario of FY25 production in line with FY24 (34.6 mboe/d), this would still lead to operating cashflow (after tax and net of financial costs) of ~US$290 mm. This compares with the FY25 capex guidance of US$240 mm. Given the cash generation to come, it should not be presumed that the dividend will be cut, in our view.

We re-iterate our target price of £3.00 per share

Triton shut down until March: frustrating but unlikely to be too impactful

While the shutdown of Triton is likely to impact FY25 financials, this could have limited materiality for several reasons.

• The FY25 production guidance already factored in 80% production efficiency, including 45 days at Triton (12% downtime) for a total of 68% production efficiency. Assuming two months of shutdown in 1Q25 and a further 1.5 months in 3Q25 implies approximately 70% production efficiency.

The FY25 guidance is based on the P90 profile of the new wells. So far, the wells have performed well above expectations, exceeding our assumptions by 60-100%. Production in February (excluding Triton) averaged 27 mboe/d to date

Given the nature of the required work (welding, …), we expect the costs associated with the repairs to be minimal.

• UK gas prices have been much higher than forecasted so far in 2025 (134p per therm vs. 100p per therm in our model). Even assuming a worst-case scenario of FY25 production in line with FY24 (34.6 mboe/d), this would still lead to operating cashflow (after tax and net of financial costs) of ~US$290 mm. This compares with the FY25 capex guidance of

US$240 mm. Given the cash generation to come, it should not be presumed that the dividend will be cut, in our view.

we re-iterate our target price of £3.00 per share

Broker note out , they don't expect temporary shutdown to have material effect and do not expect it to affect dividend expectations, target price remains 300p

Added to SQZ ⬆️ 128p... overdone drop imo on a temporary issue re oil at Triton, all gas flows on track and at current gas prices a positive

https://x.com/surprised_trade/status/1891763059292508603

Reform UK has said they would introduce a windfall tax on renewable energy as they announced they were “serving notice” on the industry. Reform pledged in their election manifesto – titled Our Contract With You – to “scrap energy levies and net zero to slash energy bills and save each household £500 per year.

They also vowed to “unlock Britain’s vast oil and gas reserves to beat the cost of living crisis and unleash real economic growth”.

Speaking in the City of London on Wednesday, deputy leader Richard Tice said: “We are serving notice on the renewables industry, on the investors, on the operations, and all the advisors and the lawyers, had better take notes.

“We are serving notice that not only do we plan to win the next general election but when we do things are going to change.” Tice said Reform wanted to “recover the cost of subsidies from the renewables industry”, which he said was around £10bn a year, and that this would be done by introducing a windfall tax on all renewable generated power, including a “special corporation tax”.

The party also said it would introduce a solar farm tax, via scrapping inheritance tax, but charging a “special tax upon their death” to farmers who use land for solar panels.

our electricity prices for industry are between five and six times higher than those in America.” Tice added: “One of the reasons for that is that net zero is without question the greatest act of self-harm ever imposed on a nation by the people at Westminster.

https://www.cityam.com/reform-uk-call-for-windfall-tax-on-renewable-energy-in-anti-net-zero-push/

Standard Chartered: Oil markets will not return to a supply surplus situation in 2025... even if OPEC+ increases output according to the current schedule.

Donald Trump has called on OPEC to start unwinding its production cuts in order to bring down global oil prices and hasten the end of the Ukraine war. However, these calls have not met with a positive reaction from either OPEC or, indeed, the U.S. oil industry.

America’s new Secretary of Energy.....

“Media & politicians NEVER bothered to actually learn about climate change.” $2 TRILLION in subsidies to lower global fossil fuel use by just 2%, there is no major energy transition.'

ttps://x.com/surprised_trade/status/1887268175638614394

''The US secretary of state will modify or rescind existing sanctions waivers and cooperate with Treasury to implement a campaign "aimed at driving Iran's oil exports to zero" -US official