Rogadar.
11 May 2018
Re: Reduce flow Well, one should remember that the bully is only, strong, if not challenged, and that is exactly what Europeans should do. I wonder how far will SP will drop.
up protherics
11 May 2018
Reduce flow Another possibility for Serica/BP is to reduce the amount of condensate extracted on a daily basis. I.E reduce flow rates to half the current levels. Only extracting their 50%. Surely that is possible and should appeise the u.s . Maybe they could suggest that.
up protherics
10 May 2018
BKR Deal I have been reading posts on other boards. A number of people have sold for the reason that this deal maybe delayed.So what... I am sure that all that would happen is that BP would still accumulate revenue on behalf of Serica until the deal is completed.The more I have read into the events of late the more I am convinced that nothing has changed apart from world sanctions not being applied to Iran.. As far I can see the biggest negotiation will be with Iran and not the U.S, because it could become a case that IOC revenue will need to go into an Escrow account which they may block.QuestionCan as operator we could force this through if needed.
changeling
10 May 2018
Re: The Iranian clampdown could also aff... This is a "known known"It's not like Trump didn't make pulling out of the Iran deal one of his election pledges.One should be able to assume that Serica had a plan in place for just the situation that is occurring now which made me wonder why the RNS was so spare in detail.I agree reference the RNS which has had exactly the effect you would expect it to
eagle51
10 May 2018
Re: The Iranian clampdown could also aff... Courtesy of a poster on LSE earlier:[link]
II Editor
10 May 2018
NEW ARTICLE: This AIM share is close to a dramatic chart breakout "Serica Energy (LSE:SQZ)Every now and then we're asked to comment on a share paying ridiculous attention to a long term downtrend. LSE:SQZ:Serica is one such with the blue line on the chart actually starting in August 2006. Sometimes, these things ..."[link]
JohnyCash
10 May 2018
Long 64.1 nm .
eagle51
10 May 2018
Re: The Iranian clampdown could also affect ... It's always helpful to have a range of views on the extent to which events like Trump's unilateral decision to renege on the Iran Nuclear agreement (negotiated by his predecessor and a number of other countries' leaders) are likely to affect non-US companies as a result of threatened secondary sanctions Trump intends to bring into effect. Risks should always be recognised and evaluated by investors but balance of probability should be taken into account. It seems to be the case today that people like to cause panic by sensationalizing any given situation and painting the gloomiest of pictures as to what could easily happen.Bad news sells. Good news doesn't. It is early days yet, but the initial reaction of several European countries to Trump's latest "America comes first" declaration is that they will not be following suit in withdrawing from the existing agreement with Iran. Preliminary indications are that Russia is singing from the same hymn sheet. I'm not aware of any comments China and others might have made but it seems that most expect the same reaction.There are already enough possibilities to enable someone willing and able to write a book on what COULD happen, but it seems to me that if the other parties to the existing agreement stand firm and say they will continue to honour it (like the UK, Germany and France seem to be doing) the next thing Trump will surely have to do is go to war (so to speak) with the rest of the world. America may be big, but it isn't that big.If secondary sanctions were to be imposed by the US on UK companies, operating in the UK, as a result of their continuing adherence to what they see as a properly executed international agreement with Iran, then Trump's unilateral actions might leave the US open to a: "two can play at that game" kind of response from the other parties to the agreement, which could potentially isolate the US from the rest of the civilized world. His "US comes first" policies may win him support in the US, but that would quickly evaporate in the event of US citizens being denied, or having to pay a lot more for, everyday goods and services they have always taken for granted. Sense will hopefully prevail before it comes to this.BP was granted a licence in 2016 from the Office of Foreign Asset Control (OFAC), to continue operations at Rhum, but this was in recognition of the fact that BP has multiple US operations. SQZ doesn't have any, so the extent to which it would appear to be at risk is through the imposition of secondary sanctions US companies might be obliged to impose. Can the goods and services SQZ would need to continue its operations normally not be secured from non-US countries? I'm not a product of the oil industry so I don't have the background to comment knowledgeably. Others might be able to help in understanding what secondary sanctions might mean for SQZ. BP.is a big partner to have in this regard and one would hope it would be keen to do all it could to ensure continuing operations and the outcome that has been carefully planned. My hope is that any negative effects of Trump's actions would be reflected in the deal consideration. Maybe the National Iranian Oil Company might see advantages in selling its 50% stake in Rhum for US dollars before the US sanctions are imposed - it will probably be months before all the arrangements (re the sanctions) can be put in place. Corporate deals can happen more quickly.********** ********** ********** ********** ********** ********** ********** ********** ****One night before retiring to his gold-plated bed, Donald was gazing lovingly at himself in his gold-plated mirror, tenderly caressing his $4m wig, whilst quietly musing on what he might do next."I don't think the title 'President' is good enough for you" he leaned forward and whispered to the vision of beauty in the mirror"."I'm going to make America a kingdom - and you shall be the king" he declared On overhe
forwardloop
10 May 2018
The Iranian clampdown could also affect oil giant BP. [link] recently agreed to sell a North Sea gas field which it co-owns with Iran’s state owned oil company. New sanctions could potentially cause that deal to unravel.My colleague Rob Davies explains:Late last year BP agreed to sell three North Sea gas fields to Serica Energy for $400m. One of the fields, Rhum, is co-owned by a subsidiary of Iran’s national oil company. That means a licence is required from the US Office of Foreign Asset Control (OFAC) to allow US nationals or companies to work on it.If Serica cannot obtain that licence because of new sanctions it faces the risk of being unable to call on US-owned companies, in the event, for instance, of a fire or oil spill, severely restricting its emergency options.The sale is not yet complete and it is unclear whether it will go ahead now. “We take care to ensure we always comply with applicable sanctions,” BP said.The BBC’s Simon Jack agrees that the deal could be in doubt.Simon Jack✔@BBCSimonJack BP potentially affected by any new sanctions. Massive business in US and It co-owns the Rum gasfield in the North Sea with Iran's state owned oil company. Not huge - but supplied 4% of UK's gas demand in 2016. Depends how aggressively sanctions are imposed.8:28 AM - May 9, 2018See Simon Jack's other TweetsTwitter Ads info and privacySimon Jack✔@BBCSimonJackReplying to @BBCSimonJackSerica entered agreement to buy BP's stake but the deal hasn't closed yet.8:35 AM - May 9, 2018See Simon Jack's other Tweets
II Editor
09 May 2018
NEW ARTICLE: Trends and Targets for 10/05/2018 " SERICA ENERGY (LSE:SQZ) Every now and then we're asked to comment on a share paying ridiculous attention to a long term downtrend. Serica is one such with the BLUE line on the chart actually starting in August 2006. Sometimes, these things ..."[link]
NewKOTB
09 May 2018
Re: Rhum Deal? I would be concerned for the staff who are to be 2P over, where do they stand in all this?
up protherics
09 May 2018
a possitive Serica could still benefit by all of this.Even if Rhum is suspended there is still Bruce and Keith. Together with Erskine and oil now rising income could equate to £50 million per annun,Not bad for a market cap of 180 million.Maybe this could turn out a blessing in disguise... An even better deal negotiated with B.P and maybe some other assets to work in the short term.So in sumary... Even without Rhum this is still a sound investment. If anything a better one than it was a couple of days ago.. omho so dy
Meanbugger
09 May 2018
Re: totally clueless On the basis that the company didn't disclose anything not already in the public domain in today's RNS, it could be argued that it was Trump's announcement not the RNS that caused today's share price fall. I think the company was right to put out an RNS as potentially this could have a material effect on the future performance of the company.For you RNS aficionados out there, as the RNS did not have any inside information contained within, it did not have the Regulatory paragraph'This announcement is inside information for the purposes of Article 7 of Regulation 596/2014.'
NewKOTB
09 May 2018
Re: totally clueless Payment for Rhum et al will take place upon deal completion. At which time SQZ will receive the surplus cash (££££
that BRK fields have produced since 1/1/18, hence nothing in accounts atm.
casabanker
09 May 2018
Re: totally clueless There looks to be a disturbing show of niaivety on behalf of the management at SQZ. I have had a look at the annual report and I cannot work out if Rhum well has actually produced any income for Serica to date. Just how damaging to Serica's income in percentage terms, is this well if it produces nothing this year? It looks like a set back but not a disaster so it may be another buying opportunity?Casa.
