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Marindan-1 Exploration Well, Kutai PSC, Indonesia spudded on 28 October 2010.


Results due anytime now. SP is looking hot.

Not another new thread.....I'll blog on the other one....ridiculous....

Up to date, charts in the header..... what more can you ask for........

Fancy having a thread with no charts in the header, ridiculous..............

Prefer to have the previous blogs ...thank you...

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Opened up well enough. I suppose news Mon or Tue next week.

Winestock on III is indicating, to me anyway, that they have found some gas..... might be high pressure by the "nice problems"..... indicating lots of it.

Jolly good, news of a gas strike next week would go down very well......



............Re: Too late to get in? Elena Saratov

Wine-stock

'Update' could be any time, however 'conclusion' likely next week.
They have some nice problems to deal with, according to the 'wine-bar' chat
WS...........

Strong start to the week.

The order book is looking much stronger now, seller seems to have been cleared out and looks ready to keep moving on upwards now.

I've noticed that this is Isable......the way I look at this is in the event of a strike...the sp could jump by as much as 30p perhaps....but drop by perhaps only 10 to 15p......just guesswork, but.....perhaps worth a punt....

Its actually presently undervalued on its assets. Been struck by a real bad run of dusters and now the share price is below asset value.

Will still drop on bad news but at least you know its even more of a bargain, and it will recover in the short term.

On good news it could even spike to 100p levels easily.

Moving up a bit and getting stronger.

Rumours (believe them or not, up to you but always take with a large pinch of salt) are that there is a gas strike, in multiple zones (stacked).

News soon, but things ongoing.

Moving up again, the excitement builds......

Yep...taking off.....glad (at the moment ) that I followed your lead here.....and it is Isable....

Looks like the draft RNS is being seen by more eyes.......

Just like the DES rise yesterday afternoon.

Perhaps a Canada open timed RNS is coming the way of SQZ..... keep a watch of the alerts this afternoon as Canada opens........

(Yes its dual listed and can be ISA'd)


But, DYOR and ignore my old ramblings for your own good !!

Pro look like your having a good week...well done

He's very good at research.....I'm sure he must be in a flat above the port in Aberdeen....

marky, its been good of late.

XEL and EOG then DES hopefully SQZ and XEL again and then AST all being well.

What I want though is the rig back to RKH and 700 million recoverable barrels proven up by end of 2011........ :)

A few months wait for that.....DES will probably drill at least one more well...perhaps two.....

I totaly agree with you about RKH, thats my banker and am holding a 5 figure numbers as the upside is huge.

Between 5 to 8 fans...

Well, could be news out when the Canadian market opens, at 14:30. I am sure major news will not get put out until both UK and Canada are open for trading.....

News out, oil and gas found but not commerical

Damn.....but will stay put...promising little company...

.

No debt.....plenty more prospects.....just tuck them away until next year unless you want to sell at a loss....

absolutely tanked ..............HENCE why i play the %'s........sold at 61p after buying at 34p or so recently

It'll bounce as its pretty much undervalued anyway, the tanking is only while the panic sellers panic sell, then it will stabilise.

Don't sell...this is a profitable company...no debt....

agreed ,,,,back in late 30's,,,,,point being Mr P. ,,,Do you understand why i play the percentages game now ......... ? .........nice play on XEL tho

Yep, some do some do not.

Its a shame, the rumours were correct about multiple zones..... its just a shame they were not commercial this time around.

However, finding hydrocarbons is half the game, and now they now there are some it leads to further investigation.

true. very true Mr. P . ...My own broker with whom i was at school since prepping is hot as mustard about this stock and got me in at approx 32p about 18 months ago .....been in and out ever since ,,,lncidentally Mr P. -.....l sincerely hope you dont think i am trying to score points here mon ami as i happen to find you a rational , intelligent and errudite individual - merely trying to illustrate a different trading style ..........bonne chance mon pote

TFC, I appreciate others have different styles and playing the percentages is good for getting lots of smaller wins, I just prefer getting less wins but bigger wins (whilst trying to avoid major losses).

Everyone has their own strategy and everyone has to do what is best for them.

Now, I want XEL to deliver very good flow rates !!!! ;)

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Serica Energy (LON:SQZ) jumped another 14% to 28p as investors jumped aboard for what looks like a busy 2012 for the company. Resistance at 25p was holding firm until today, and now it looks like a clear path towards resistance at 30p. Even after the recent rally, the shares are still a long way from the 60p high back in 2010.

Another rise today. Anyone following this share?

I nearly followed it into the bin last year.....

the stock has been moving higher since yesterday after a couple days of profit taking

Impressive rebound.

Moving on the right direction, the downtrend was broken on late 2015, the next step is a BREAKOUT at around 12 / 12.50p ( intraday )

two types of CUP and Handle can be seeing on the chart during the last 18 month

Wished I'd bought last year.

KEEP an EYE

SQZ 10.25p ( 10 - 10.50p )

Supper results for a small company with market cap below £30M made profits and positive cash flows after net impairment provisions of US$8.2 million. Cash of $26M ( £16M ) Positive spread, bid price bullish 171K v 40K
note - Company assets of 4.2 million barrels is currently being valued by the market at around £10 million ( market cap after cash balance )

Lets put some charts to see it properly

2nd cup & handle being formed on the last 18 month, now on the handle process as the CUP has already being done.

10.875p +0.375p

Moving higher

I found very strange the way the share price is moving up, by the trades at LSE ( 2 small )
A change on the order book at 8.26am, on the Price and MMs.
PEEL the largest MM with 100K went up at that time at 10.25 an higher bid also at 10.50p with 55K , but no trades at that time

ISDX market for SQZ

Serica Energy made its first profit since 2009, so why are the shares down? -
Proactive Investors -- 19 Apr 2016 - 16:17

As the company hailed strong results for 2015, investors had eyes on problems that threaten the performance for the current financial year.
An oil platform in the UK North Sea
In 2016 Erskine produced more than 40% more oil than forecast.
Given the strong set of financial results unveiled by Serica Energy Plc (LON:SQZ) this morning it would be easy to assume investors would be as happy as a pig in the proverbial, but, instead the stock fell nearly 20% on Tuesday Morning.

At the same time as the rest of the sector bemoans the industry wide downturn, forced by collapsing crude prices, Serica saw a significantly better than expected performance from a newly acquired North Sea asset.

But all may not be as rosy as the headline numbers might suggest.

Changing hands at 10p Serica's AIM quoted shares were down about 10% by midday, having seen as low as 9.65p earlier today.

Here we take a look at the key points from Serica’s financial results.

Erskine outperformance delivers bumper financials for 2015
An 18% stake in the Chevron operated Erskine field, located off the Aberdeen coastline, was acquired from BP (LON:BP.) by Serica in June 2015.

In 2016 Erskine produced more than 40% above forecast, and moreover the cost of production was significantly below budget.

Net production to Serica averaged 3,000 barrels oil equivalent per day over the second half of 2015, versus a forecast of 2,100 boepd. The cost of production dropped below US$20 per barrel compared with expectations for US$30 per barrel.

The field contributed Serica’s positive US$7.6mln operating cashflow, and gross profit of US$16.1mln.

Overall, Serica reported a US$6.5mln profit after tax, after a US$8.2mln provision for impairments.

The company ended 2015 with some US$21.6mln of cash, up from US$5.4mln when it completed the Erskine deal. No near-term capital expenditure is programmed for the assets within group’s current portfolio.

Porcine problem for Erskine: A blockage threatens 2016’s performance
In mid-March, Serica warned investors that first quarter production volumes from the Erskine field in the North Sea would be below expectations following a pipeline blockage.

A foam cleaning device, called ‘a pig’, became stuck in a pipeline during essential maintenance operations.

It added that output volumes would be dependent upon how quickly the field can be restarted, though chairman Tony Craven Walker said he expected the ‘strong performance’ would resume once the problem was sorted.

At that time, Serica believed the field would restart by mid-April. Unfortunately that’s not the case.

In Tuesday’s results the company told investors that further issues relating to the build-up of wax deposits around the blockage had inhibited the recovery of the ‘pig’. It added that progress is now being made clearing the blockage, but, it may still take several more weeks.

The delay then runs into a planned two-month maintenance period for the Lomond system - a BG operated field through which Erskine's crude is transported - so the restart could now slip into the summer months.

Tony Craven Walker says Serica remains ‘considerably stronger’ than before
In today’s results statement the Serica chairman said: "The Erskine field has exceeded our expectations since its acquisition in June last year, already making a significant contribution to Group cashflow and profits.

“This has improved our financial resilience leaving us better able to handle issues such as the current production suspension”

He added: “Serica is considerably stronger than it was a year ago, notwithstanding the headwinds of the past 18 months which have had a dramatic effect throughout the industry.

“We must now maintain momentum into 2016 and believe the current climate combined with the fact that we have cash resources and no debt or material commitments, places Serica in a strong position to create further value."

City brokers see Erskine catching up when production resumes
Referring to the impact of the Erskine down-time in a note, Peel Hunt analyst Werner Riding said: “there will be a short-term impact on forecast production and revenues, however we anticipate that subsequent production restart will give strong flush production which could offset some of the lost volumes in 1H16, thereby limiting the overall full year impact.”

As he retained a ‘buy’ recommendation for the stock, the analyst also highlighted comments in the outlook statement which point to efforts by the company to identify additional production asset acquisitions.

Here, Riding says the company’s objective is to diversify the production base and to efficiently utilise Serica’s accrued tax losses.

“Timing on any potential future transaction clearly remains uncertain, however with a significantly strengthened balance sheet, in our view Serica's ability to consider deals of increasing scale that would help build a more robust production base has improved markedly,” he added.

Elsewhere, in another note SP Angel highlighted said: “The last year’s results (out today) have underlined just how much progress the company has made in what has been strong headwinds.

“That said, the company is entering a transition phase, one in which it starts to have increasing flexibility to pursue a wider consolidation strategy with its cash flow.”

The broker highlighted that Serica must “reset its mind-set and repeat the progress it has made”.

It added: “the company is in a good position, and it's owners should not only be happy with the progress that has been made, but the outlook for its future.”

A few good large buy trades and bid gone to 11.75p ( with good support size )

DEPTH ( no. trades ) 13 v 9

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read what you want but someone says ......

"rumours in the city of potential acquisitions"
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Lovely chart

The game is on as the ... RISING with Volume is happening

the move is on and at this rate we need to keep a close eye on the BREAKOUT

When you say 'we' is that you and your hamster?

Blackdown is a BASTARD ...............
...... if the rest of you did not know it yet

I am making money the Bastard is swallowing it ( cat that ate the canary )
a dangerous predator or maybe a better name a STALKER

13p +0.50p

Looking good already as after a couple trades the "AT" was activated and the 13p offer has gone, there was 2 MMs by the way also gone at that price
The BREAKOUT is on since late yesterday is working according to the chart I made 10 days ago.

Just now there was a 1 share traded, a code the MM use to each other

the (1 share) usually is news on the way....

09:32:31
12.935p
1

after the recent retracement 61.8%, the level 2 is weak today a good opportunity to get the stock on size and good price.

Strong order book and bid price 11p as there is a 200K trade
spread 11 v 11.50p

Are any of those assets for sale on the SQZ list of interest ?


Royal Dutch Shell Plc is in talks with potential buyers for some North Sea assets, mostly fields it got this year as part of the record acquisition of BG Group Plc, according to people familiar with the matter.

The Anglo-Dutch energy giant has been in talks with companies including privately held chemical producer Ineos Group AG and Neptune Oil & Gas, set up by former Centrica Plc chief Sam Laidlaw, the people said, asking not to be identified as the information is private. Shell is seeking to sell a package of assets and is talking with companies to gauge their interest before a formal sale process is launched, the people said. No final decision has been made and Shell may decide to retain the properties, they said.

http://www.bloomberg.com/news/articles/2016-05-19/shell-said-to-start-talks-with-buyers-for-north-sea-asset-sales

Peel Hunt reaffirms buy on Serica Energy PLC (LON:SQZ) target 17p (from 13p).

KEEP an EYE

SQZ 12.25p ( 12 / 12.50p )

Yesterday's large volume and rising was the point of BREAKOUT on the way, already said here 3 month ago. Order book strong on the bid side 16 v 10. Cash of $26M ( £16.5M ) Company assets of 4.2 million barrels is currently being valued by the market at around £11 million ( market cap after cash balance )

BREAKOUT

13.25p +0.75p

Going places once again, and a follow through of the last couple days, at this point has broken the last Intraday high 13p end of April

The larger trades are now moving in

Time Trade -- Price --- Volume --- Value
11:23:57 --- 13.48 --- 117,834 -- £15.88k
11:19:36 --- 13.3649 -- 52,331 -- £6,994
11:11:22 --- 13.3649 -- 50,000 -- £6,682

SQZ 13.75p +1.25p

Keeping the spread large since 12pm but after a few more large trade has gone to 13.50 v 14p with some good size volume very important on the way up to 17p

A 100K buy has shaken the MMs and from 13 v 13.50p has gone to 13.25 v 13.75p
the offer price was marked down till buyers were willing to buy large

11:13:40
13.2901p
100,000
13.29k

Here is a wooper, done one hour earlier now reported......

14:51:09
13.50p
275,000
£37.13K

A wooper? That's a new one...

The queen wanted but the princess can not have it, the "wooper " said up hers

Bless you Mentor

The " padre " bless me once, that should be enough

13.625p +1.375p

Recommencement of Production from Erskine

Serica is pleased to announce that oil and gas production from the Erskine field has recommenced following the clearance of a pipeline blockage and the completion of scheduled maintenance works on the Lomond platform.

The pipeline blockage, which occurred earlier this year in the Lomond to Everest condensate export line, was caused when a foam cleaning device known as a pig became lodged in the pipeline due to a build-up of wax. Successful clearance procedures included pressure pulsing using diesel from both ends of the pipeline and latterly the injection of a wax solvent. The field then remained shut-in to accommodate a planned two month maintenance programme on the Lomond platform, which commenced in late May to coincide with the planned one month shut down for maintenance of the CATS gas export and processing facilities through which Erskine gas is exported.

On completion of these maintenance programmes condensate flow from the Lomond field started in mid-July in order to flush the export line, with higher volume Erskine production re-commencing from late on the 27th July. Following a short period for final clean-up during the first week of August, production from Erskine is projected to build-up rapidly to the fully unconstrained levels achieved prior to the shut-down.

As part of the ongoing operations designed to improve production efficiencies and ensure continuous export availability, an increased programme of regular pigging and wax inhibitor injection is to be implemented in order to prevent a re-occurrence of wax build-up once full production has been re-established. The scheduled pigging operations will also enable a full integrity survey of export infrastructure to be completed to determine the potential to extend infrastructure operating life.

Tony Craven Walker, Serica's Chairman commented:

"Since Serica acquired its interest in the Erskine field in June 2015, it has made a significant contribution to cashflow and profits. This has equipped us to withstand issues such as this shutdown. Now that production has resumed we expect this strong performance to continue as we seek to add further interests to increase shareholder value at a time of low oil and gas prices."

Next stop 15p.

14.25p =

Serica issues SQZ Erskine operational update

Serica Energy said re-commencement of the full, continuous production of Erskine has been delayed.

As previously announced, production from the Erskine field (Serica 18%) restarted on July 27 following a prolonged period to clear a blocked pipeline and undertake planned maintenance on the Lomond platform which provides treatment and export facilities to Erskine.

In line with earlier statements, Erskine production was built up for a short period to flush the Lomond/Everest condensate export line and establish full flow through the system before being temporarily suspended for final clean-up operations and for re-commissioning of Lomond platform facilities to be completed.

Initial field production rates of over 4,300 boepd net to Serica were achieved in this period, supporting the capability of the Erskine reservoir and Erskine wells to deliver at high rates.

Shell as operator of the Lomond platform, has now advised that re-commissioning of the Lomond export facilities, which was expected to take one week, has taken longer than projected and that further work is required on the main Erskine condensate export pump, located on Lomond, before it can be brought fully on-line.

"As a result, re-commencement of full, continuous production of Erskine has been delayed," the company said.

A further operational update will be released by the Company when advice has been received from Shell that these re-commissioning issues have been resolved. The Company has been advised by Shell that this is likely to take several more days.
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Oil price on the way down again after reaching intraday high last Friday at $51.22. There is some support at $48.50 for Brent

BRENT crude chart

Broken 15p finally.

Top performer today.

23p to buy 30p is more reasonable in 2017 given the monthly cash generation.

Impressive performance today with quarterly results due soon this will in the 30's .

Serica eyes BP gas apparently.

Supper results from Serica, keeping the production at the same level when expecting it would higher, has dented apetite for the stock. Nevertheless well undervalued by the profitt and cash no debt.


SQZ 27p - 0.50p

Serica reports $10.3m profit

Serica Energy made a profit after tax of US$10.3 million in the first half, compared with loss of US$2.8 million the year before.

Sales revenues were US$21.9 million, up from US$5.7 million a year ago, at average realised prices of US$51.5/bbl for oil and approximately 42 p/therm for gas.

Cash and short-term deposits increased to US$30.7 million with zero debt.

Erskine full-year production guidance has been maintained at 2,200-2,400 boepd net notwithstanding the suspension of production in August/September for facilities and pipeline maintenance.

Production re-started on 22 September 2017 achieving rates of approximately 2,500 boepd net to Serica from three wells.

Tony Craven Walker, Serica's chairman, said: "Serica has produced a strong set of first half results and, although production to-date in the second half has been reduced to resolve various pipeline and maintenance issues, our production guidance for the full-year remains in the 2,200-2,400 boepd net range. We are now entering the winter months in the northern hemisphere, when hydrocarbon prices are traditionally stronger and this helps to underpin our financial performance.

"With this strong financial position Serica is well placed to take advantage of new opportunities to grow both through our existing portfolio and through acquisition in the UK North Sea, where our demonstrated capability and experience give us a competitive edge and where we continue to benefit from tax efficiencies. We have adopted a keen but measured approach to this potential and are currently actively reviewing a small number of value accretive opportunities that match our strategic objectives."

Impressive chart rebound from the lows.