mcescher
29 Jul 2015
Analysis report on Seplat Petroleum Development Company Seplat Petroleum Development Company is looking undervalued on this report [link]
freddie99
24 Jun 2015
Re: Dividend payment Thanks again DukeDosh for the info. I also received my divi payment this morning. I'm assuming that like myself you hold your shares through a nominee account. I sometimes wonder whether these delays in payment (and Seplat is not the only one I've suffered in recent months) have more to do with the fact that we're not on the register as individuals. I believe the dividend was declared in Nigerian Naira and shareholders were given the option to receive it in either that currency or GBP.I wholly agree with your view that SEPL looks cheap. I guess the two words 'Nigeria' and 'oil' account for that negative sentiment. But any serious instability in Eastern (Shia) Saudi Arabia could quickly mean Nigerian oil assets become a significant positive.....
DukeDosh
24 Jun 2015
Re: Dividend payment Received my divi this morning, which was most welcomed. This yields around 4.5% at the current price. According to my broker, the delay was caused by them receiving the cheque in USD and then having to convert to GBP. Same as last time!SEPL looks cheap down here. RBC have it as a sector outperform rating and 190p TP. They are attracted to increasing their exposure to gas which should give a decent hedge against the oil price.
freddie99
23 Jun 2015
Re: Dividend payment Thanks DukeDosh for the reply. I've just received a secure email from my broker and they said: "still awaiting full payment from the company." I must say, whether it is the fault of the company or some other party working on their behalf, it doesn't give a very favourable impression of Seplat, does it.....
DukeDosh
22 Jun 2015
Re: Dividend payment Not received my divi yet. Waiting on a reply from my broker about this.
freddie99
18 Jun 2015
Dividend payment Has anyone received their final dividend (payable 10th June) yet? My broker said it should be paid by 17th June at the latest, but still waiting..... Just wondered what the experience of other investors was regarding payment. Thanks in advance.....
Rhigos
22 May 2015
Wow ex-div today but up Was expecting SP to be down about 5% today because XD but up 3.68%! I think oversold following poor results. Yield is 7.29% declared div of USD 0.09 (5.737p/share interim).
DukeDosh
29 Apr 2015
RBC Note This from RBC earlier today:Seplat - Q1/15 earnings beat, but focus remains on receivablesSeplat Petroleum (SEPL.L, 137p, Outperform, Speculative Risk; 190p Price Target)Seplat has reported Q1/15 numbers and published an IMS; the key points include:Numbers: In Q1/14 Seplat produced ~35,800boe/d (27,935b/d oil and 47MMcfd gas) ahead of our ~32,000boe/d forecast reflecting improved uptime and fewer shut-ins. Reconciliation endured by OMLs 4, 38 and 41 volumes transported through the Trans Forcados System have fallen to 9.7%. The vast bulk (95%) of the company’s oil sales from OMLs 4, 38 and 41 continue to flow through the TFS, as Seplat continues to build a relationship with the Warri refinery. Revenue of $131m was ahead of our expectations due to the higher oil sales, but we also note that average gas prices continue to edge up, to $2.6/Mcf. The company reported a net profit of ~$25m. Cash flow from operations including changes in working capital was -$62m; the NPDC receivable has increased to $499m, from $463m at year-end. Seplat ended the period with net debt of ~$840m. Cash in hand of $191m excludes the $453m paid as a refundable deposit against potential investment in 2014 - the company has initiated legal processes to accelerate the return of this cash.Activities: Commissioning work has been completed for the new 150MMcfd Oben gas plant, gas has been introduced to the system and final pre-startup audits and checks are underway. Following the installation of three 10MMcfd compressors, the Oben associated gas compression project is set for commissioning in Q2/15 to eliminate gas flaring. On the newly acquired OML55 block, which encompasses five producing fields, Seplat expects to focus initial work on optimising and increasing oil production, taking advantage of the significant infrastructure capacity that already exists on the block.
Rhigos
16 Apr 2015
Re: Prospects look very good Bought yesterday and already showing a profit of 3.9% after dealing charges. I suspect that because this is not a big company (361 by market cap of full listing LSE shares) and floated just over 1 year ago on LSE it has not received much attention from analysts. I think it has been overlooked and is undervalued. There is of course the high risk because of its location in troubled Nigeria. Not for widows and children but for those willing to take a risk well worth a modest punt IMO.
Rhigos
14 Apr 2015
Prospects look very good This company popped out of a recovery play search with criteria, from fully listed LSE shares, was that SP was between 80% and 50% down from 12 month high and that rolling PE was between 1.5 and 20 (i.e. profitable). 10 companies matched criteria of which 5 were oil shares. SEPL was the one I was most attracted to. Yield of 2.56% forecast to rise to 9%! What that really means IMO is SP forecast to double in 12 months.I am impressed with their strategy as described on their web site.[link] and mining shares up today so I plan to buy tomorrow in hope that SP may be a little lower (SP +2.85% today as I write).
DukeDosh
04 Mar 2015
Seplat expects gas business to treble in 2 years Seplat expects its gas business to treble in the next two years Nigeria’s Seplat expects its gas business to account for around 33% of its profits over the next two years, up from less than 10% today.The company wants to hold at least a 20% share in Nigeria’s newly privatised electricity market by 2018, Chief Executive Austin Avuru said at a conference.Seplat wants to more than triple its gas production from 3.4 million cubic metres per day (MMcm/d) at present to 11.3 MMcm/d by 2017. Nigeria’s gas demand is predicted to rise from 34 MMcm/d to 85 MMcm/d over the next two years.
DukeDosh
04 Mar 2015
Gas demand to drive growth at Seplat Gas demand in power-hungry Nigeria to drive growth at producer SeplatLAGOS (Reuters) - Nigerian energy company Seplat (SEPLAT.LG) expects its gas business to contribute around a third to its profits over the next two years, up from less than 10 percent today, as demand for electricity generation in Africa's biggest economy soars.CEO Austin Avuru told a Reuters Africa Investment Summit on Tuesday, that the company, which listed in London and Lagos last year, aimed for at least a 20 percent share of the domestic gas market by 2018.Nigeria privatized its electricity sector 18 months ago, aiming to end decades of blackouts which have hampered economic growth. Most of the plants it sold were gas-fired, operating below capacity due to inadequate gas supply.Avuru said Seplat aimed to increase gross output from around 120 million standard cubit feet (scuf) per day to 400 million scuf by 2017, as demand for gas in Nigeria rises from 1.2 billion scuf per day to an estimated 3 billion scuf per day by 2017, ten times the 300 million of six years ago."the end of 2017, our target is to ... achieve a reserve/production ratio of 20 years," he said, adding that would mean more than 50,000 barrels of crude and a net gas output of 200 million scuf.Shares in Seplat on the Lagos bourse (SEPLAT.LG) have gained 27 percent this year but are still down 22 percent from their listing price of 576 naira in April last year.Avuru said the performance had mirrored the drop in global oil prices. Seplat shares (SEPL.L) were down 1.5 percent on the London stock market on Tuesday at 145.50 pence.Avuru said Seplat had cut capital spending for 2015 to $300 million, down from the $480 million initially planned, due to the oil price drop. The company would only need to tap capital markets to finance acquisitions, he added.He said Seplat had finalised the acquisition of a 40 percent stake in OML 53, an onshore oil block, from Chevron (CVX.N), despite an ongoing legal case in which Nigeria's Brittania-U has sought to block the U.S. company from selling the assets which it says it had paid a deposit to buy."We have now been able to move that to closure and Chevron has handed over the asset to us," Avuru said, adding that the company would be operating the oil block "while we thrash out whatever is left of the litigation."Avuru said his company was budgeting for 2015 with an oil price assumption of $50 a barrel, and $60 for 2016 and was not impacted by the devaluation of the local currency because the gas business with naira revenues provided a hedge.
Arundallio
18 Feb 2015
2.7 Million Traded On Normal Days that is 20,000 tradedSo someone is taking a position and someone knows somethingWhat is it is the questionArundallio
Jack Diamonds
18 Feb 2015
Dream on.......Highlander !! Very well financed,scooping up prime acerage,in their own country !!!What's not to like..........................
Highlander
17 Feb 2015
Se Splaaaatt !!!!!! Just Splattered the only chance they ever had of getting anywhere. What goes around comes around and believe me that time isn't too far away for this lot.
