We would love to hear your thoughts about our site and services, please take our survey here.
Mitch Flegg will step down from this role and as a director of the Company AFTER publication of the Company's 2023 full year financial results. Mitch Flegg will remain as an adviser to Serica until after the Company's 2024 AGM, expected to be held in June 2024.
So after 40 years in the industry he announces he is stepping down after the results.....SQZ will have a new Ceo and change is often good with new ideas, outlooks etc
We all have different views, it's what makes a market, as it moves in strange ways at times.
Sp has been languishing, however, it generates profits, Free cash flow of approx £200m, has cash close to £150m & generates a divi of 10%+, North Sea is unloved by some (they may acquire outside UK soon) however, the actual figures suggest much greater upside from current sp levels imo....
.....and SQZ have just increased the RBL to $500m with the option of $1bn, surely an acquistion awaits sometime soon ...
202p ...... markets are irrational at times ..
https://twitter.com/surprised_trade/status/1753334966975439356
After some forty years in the industry, including six years as CEO of Serica, Mitch Flegg will step down from this role and as a director of the Company. This change is expected to take place AFTER publication of the Company's 2023 full year financial results. Mitch Flegg will remain as an adviser to Serica until after the Company's 2024 AGM, expected to be held in June 2024
Mitch leaves SQZ '' in its best ever health, very well positioned to deliver full value from its assets and exploit opportunities in the UK and BEYOND. Serica is now well placed for further growth in service of increased shareholder value, to which the Board is committed as its top priority''
Ceo Mitch Flegg stepping down in June leaves #SQZ '' in its best ever health, very well positioned to deliver full value from its assets and exploit opportunities in the UK and beyond #SQZ is now well placed for further growth in service of increased shareholder value, to which the Board is committed as its top priority.''
https://twitter.com/surprised_trade/status/1752956779346944298
The downgrade by Goldman is the sort that provides brokers with a bad name. Goldman suggest gas will be in over supply (lng) from 2027 & with Europe having decent inventory for 2023 only 2024 winter may see tight supply. No mention by Goldman of Oil or the transformational new deal that will turn #HBR into one of the world's largest and most geographically diverse independent oil and gas companies & no one can judge oil/gas prices or supply lines 2/3 years ahead to impact today's sp whilst ignoring the fact #HBR will be one of the world's largest suppliers & not limited to Europe......other broker has 570p target based on the new deal.
https://twitter.com/surprised_trade/status/1752787986515702169
Https://twitter.com/surprised_trade/status/1752668937295151332
the downgrade Goldman broker note 😳they must be looking at a different #HBR to the rest of us as it transforms to a major player.
Acquisition is expected to transform Harbour into one of the world's largest and most geographically diverse independent oil and gas companies......broker has 570p target
Harbour Energy is acquiring Wintershall Dea asset portfolio, completely transformational deal for HBR. Seller BASF and LetterOne is primarily taking shares in HBR at 360p/share.
Https://twitter.com/Petro_Tal/status/1751938268499714121
Manolo Zuniga, CEO of PetroTal (pictured), was pleased to present to energy analysts today in London. A recording of the presentation will be made available on the Company’s website over the coming days
Rns trading update- revenue up 11.4% to £329.9m, Pet Club increased in membership by 4%, with 500,000 members as at 31/12/2023, successfully completed a further four acquisitions of small animal practices in Australia, strong pipeline of potential acquisition opportunities. In line and growing.
https://twitter.com/surprised_trade/status/1750419264358543554
If the joint venture is built into the current price at just 250p that would be disappointing, possibly a short term volatile shake, however, 250p on current view does not appear unreasonable, with more to come.....
Overall, in our view this is a strong update that sets PetroTal up for a year of significant activity, further growth, and ongoing material shareholder returns. Over the course of the year we should get newsflow from operational progress both at Bretana but, more importantly in our view, on offtake routes. This should then help underpin positive production updates, interspersed with quarterly dividend confirmations. PetroTal has great potential in its Bretana field, and we expect 2024 to represent further realisation of this, underpinned by strong shareholder returns.
Bretana holds a significant 96.7mmbbl of 2P reserves, and PetroTal has a multi-year drilling programme which we expect to take production to over 26mbbl/d in 2026 in the 2P case. The company has established multiple export routes for its
Bretana crude, including barging to Manaus in Brazil, to the regional Iquitos refinery, and into the ONP pipeline (currently offline) via the Saramuro pump station, helping underpin export reliability via diversity.
New export routes are also being brought forward. PetroTal also engages in significant local social programmes in order to help reinforce its local licence to operate. The company has a strong balance sheet, holding US$111m of net cash at the end
of 2023, supporting ongoing CAPEX investment and returns to shareholders, . As such, PetroTal offers investors regular drilling news flow, strong and growing production based on a material asset, significant cash flows underpinned by the variety of export routes, and an increasingly established dividend
2024 production / sales expected to average 17,000 bopd a 20% year on year increase
Forecast funds flow and free funds flow of $160 million and $25 million, respectively
Targeting a base 12% return from dividends and buybacks prior to liquidity sweeps (dividend top up payments to be determined at the declaration dates)
Initial 7 day production rate for well 16H of 7,500 bopd
The Company will conduct pilot sales shipments to the OCP in Ecuador
A new sales route will commence through Yurimaguas to Bayovar starting in July 2024
https://twitter.com/surprised_trade/status/1749337989673582593
Https://oilprice.com/Latest-Energy-News/World-News/Shell-Starts-Layoffs-in-Search-of-Efficiencies.html
Shell has begun hundreds of layoffs, sources with knowledge of the matter told Bloomberg on Thursday, as the supermajor looks to create more value through simplification and discipline.
Last year, Shell laid out plans to raise its dividend by 15%, effective from the second quarter 2023 interim dividend, as the UK-based supermajor pledged to grow its gas business and extend its position in the upstream.
Todays update rns - holding all positions in HBR as it transitions away from UK and transforms as below, today's update does not appear to change the move to a much larger (global )geographically diverse business
''Acquisition is expected to transform Harbour into one of the world's largest and most geographically diverse independent oil and gas companies......broker has 570p target''
https://twitter.com/surprised_trade/status/1747900008043557111
Bank of America has raised its price target to 500p from 460p, and reiterated its ‘buy’ rating, after taking a closer look at the proposed acquisition of Wintershall.
“We like what we see,” said analysts at BofA in a research note.
t notes the “problematic” UK production mix (fiscal and regulatory unknowns) goes from around 90% to around 30%.
“The proposed transaction offers major geographic diversification and expands Harbours production base >2.5x towards ~500kboe/d,” the bank explained.
“Reserve life metrics are improved, opex and capex intensity reduced,” and it expects the Wintershall portfolio to generate the full $2.15 billion (and change) cash price tag with its own FCF if the deal closed at year-end 2024.
“We see a major re-rating opportunity,” BofA said.
The world will find itself short of oil from 2025 onwards as exploration for longer-producing crude reserves is set to lag demand growth, Vicki Hollub, chief executive of Occidental Petroleum, said at the Davos forum on Tuesday.
https://oilprice.com/Energy/Crude-Oil/Occidentals-CEO-Sees-Oil-Supply-Crunch-from-2025.html
If the activist groups want to help invest in 'green' why don't they go invest in Orstead or Siemens where billion dollar losses are available for investors.
"Shell's board has previously advised shareholders that the Follow This resolution was unrealistic and simplistic, that it would have no impact on mitigating climate change, have negative consequences for our customers, and was against the interests of the company and our shareholders.
"Continued, targeted investment in oil and gas will remain necessary to meet global energy demand over the coming decades as the world transitions to a lower carbon future."