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Addeda few more at 243p...markets are highly irrational at times :-)

Minus 6 percent , lol......markets can be highly irrational at times

Crude $92.5

brent $95

I'd rather them under guide on production for next period and exceed than over promise in the current 'North Sea climate' (WFT tax etc) whilst the government review is underway over coming weeks. In addition if the right opportunity arrives for an acquisition production again will increase in what will be a higher priced oil market etc.

In reality on previous figures, it's only guidance, production it's not a 10 percent cut it's only around maybe 2k so not an issue at all, particularly with tax off sets and higher oil prices .

Profitability maintained with higher sales volumes largely offsetting lower gas prices.

Highly cash generative portfolio of assets. Cash flow from operations of £266 million (1H 2022: £267 million) contributing to gross cash of £444 million as at 30 June 2023 after tax payments of £141 million, net cash outflow of £44 million arising from the acquisition of Tailwind Energy and reduction of £48 million in debt acquired with Tailwind.

Operating profit £159 million

Interim dividend of 9 pence per share (2022: 8 pence per share) announced today following the full year dividend of 22 pence per share for 2022. The interim dividend is payable on 23 November to shareholders registered on 27 October 2023 with an ex-dividend date of 26 October 2023.

Mitch Flegg will provide a live presentation relating to the interim results via the Investor Meet Company platform today at 1.30pm BST.

The presentation is open to all existing and potential shareholders.

Investors can sign up to Investor Meet Company for free and add to meet Serica Energy plc via:

https://www.investormeetcompany.com/serica-energy-plc/register-investor

Happy with that, production maintained with no issues, healthy cash generating, divi up, and hedges start dropping off after December generating further Free Cash Flow.

A lot to like and importantly no nasty surprises, i:-)

Https://twitter.com/SericaEnergyplc/status/1703755683722592571

We look forward to sharing our Interim financial results on our website tomorrow morning. At 1.30pm our CEO Mitch Flegg will make a presentation followed by a Q&A session via the Investor Meet platform.

Pushing Higher: The Bloomberg Open, Europe Edition

A global oil benchmark is set to test $95 ahead of a speech by the Saudi energy minister.

https://www.bloomberg.com/news/newsletters/2023-09-18/pushing-higher-the-bloomberg-open-europe-edition?utm_content=energy&utm_medium=social&utm_source=twitter&utm_campaign=socialflow-organic&cmpid%3D=socialflow-twitter-energy&leadSource=uverify%20wall#xj4y7vzkg

.'.....most new cars being sold worldwide are NOT EVs but normal ICE. To expect the emerging markets, developing world and even mainstream economic powers, such as India and China, to be able to deal with a total electrification of transport within the coming years is a farce. Without major economic growth and trillions of US$ being invested in electricity grids the latter dream will never fly.

OPEC’s current position is clear, and the most rational. Without hydrocarbons no energytransition is possible. At the same time, an immense amount of new investments is needed into hydrocarbons not only to provide current global economies but also to support the still struggling energytransition.

Without oil, gas and coal, no minerals or metals are able to be mined, no manufacturing to produce or no transportation available to bring solar panels, batteries, EVs or windmills and turbines to the market. Without the needed trillions of dollars to be invested to keep current oil and gas production at level, supply will be decreasing, not due to demand (which is increasing) but due to normal technical constraints in the producing fields.

OPEC’s statement that it expects global oil demand not to peak before 2040 is more rational than the doomsday scenario’s presented by Paris. The bet on oil and gas is still very strong, whatever COP28-COP29 agreements will be coming. Total demand for crude oil is definitely heading to hit the 110 million bpd by 2040, maybe even much higher, if Africa and Latin America are for once fulfilling their own promises. India’s expected economic growth, based on its current strategies and population growth, is another major boost factor for hydrocarbon demand.

Without oil and gas the world as we know will come to a standstill.....'

https://hilltowerresourceadvisors.com/energy/opec-iea-clash-facts-dont-add-up

Https://twitter.com/OilandEnergy/status/1702616508331860396

The bullish news is just relentless in oil markets at the moment

China’s Refinery Throughput Jumps To Record Highs

10 takeaways from the week's Oil action.

'Physical tightness is becoming more pronounced as inventories tank. Crude holdings at the key US storage hub in Cushing, Oklahoma, have collapsed by 42% so far this quarter -- on course for a record contraction'

Oil stocks increasing Free Csh Flow

https://twitter.com/surprised_trade/status/1702593341479612497

Crude $90

Brent $94

Crude $90

Brent $94

The company has re-iterated its FY23 production guidance of 14-15 mbbl/d.

• Important upcoming newsflow includes the potential reopening of the ONP pipeline allowing PetroTal to increase its production capacity and eliminate the production constraint during the dry season when the Amazon river water level is low.

• The current quarterly dividend of US$0.025 per share (US$0.10 per year per year) would represent a dividend yield of >17%.

A buyback programme of US$3 mm per quarter would represent a further return of >2% per year. In July and August alone, the company has bought back ~US$2.3 mm in shares.

The higher oil price has important positive implications for our forecasts. Assuming US$92/bbl for Brent from 3Q23, we forecast that PetroTal will have returned >US$100 mm (~20% of the current market cap) in dividends and share buybacks by YE24 and still hold ~US$280 mm in working capital (and no debt) by then.

We re-iterate our target price of £1.50 per share.

Https://twitter.com/surprised_trade/status/1702338719410450454

Crude $90

Brent $93

• Important upcoming newsflow includes the potential reopening of the ONP pipeline allowing PetroTal to increase its production capacity and eliminate the production constraint during the dry season when the Amazon river water level is low.

Interesting ....

Broker report out...

The company has re-iterated its FY23 production guidance of 14-15 mbbl/d.

• Important upcoming newsflow includes the potential reopening of the ONP pipeline allowing PetroTal to increase its production capacity and eliminate the production constraint during the dry season when the Amazon river water level is low.

• The current quarterly dividend of US$0.025 per share (US$0.10 per year per year) would represent a dividend yield of >17%.

A buyback programme of US$3 mm per quarter would represent a further return of >2% per year. In July and August alone, the company has bought back ~US$2.3 mm in shares.

The higher oil price has important positive implications for our forecasts. Assuming US$92/bbl for Brent from 3Q23, we forecast that PetroTal will have returned >US$100 mm (~20% of the current market cap) in dividends and share buybacks by YE24 and still hold ~US$280 mm in working capital (and no debt) by then.

We re-iterate our target price of £1.50 per share.

China Returns to Buy Winter Gas Supply in Risk to Global Balance

China is looking to stock up on liquefied natural gas for winter, returning to the spot market in a move that risks reducing supply to other importers.

Unipec, the trading arm of Sinopec, released a tender to purchase more than a dozen shipments for this winter, in addition to deliveries through the end of 2024, according to traders with knowledge of the matter.

This is the biggest push by a state-owned Chinese importer to procure LNG from the spot market since February.

The nation’s potential return to the market could curb the availability of LNG for Europe, which is turning to the super-chilled fuel to replace pipeline gas deliveries from Russia.

Risks from frigid weather to strikes and China’s appetite for fuel threaten to disrupt the LNG/Gas market’s delicate balance, according to executives and analysts at the Gastech conference

China Returns to Buy Winter Gas Supply in Risk to Global Balance

China is looking to stock up on liquefied natural gas for winter, returning to the spot market in a move that risks reducing supply to other importers.

Unipec, the trading arm of Sinopec, released a tender to purchase more than a dozen shipments for this winter, in addition to deliveries through the end of 2024, according to traders with knowledge of the matter.

This is the biggest push by a state-owned Chinese importer to procure LNG from the spot market since February.

The nation’s potential return to the market could curb the availability of LNG for Europe, which is turning to the super-chilled fuel to replace pipeline gas deliveries from Russia.

Risks from frigid weather to strikes and China’s appetite for fuel threaten to disrupt the LNG/Gas market’s delicate balance, according to executives and analysts at the Gastech conference

Blimey, give it time to work through, markets are not instant....