.

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.