Stocktube video
22/09/2014

Serica Energy’s Craven Walker on Erskine stake acquisition

View full size
Additional Information
Market: AIM, TSX-V
Sector: Energy
EPIC: SQZ
Latest Price: 12.75p  (-3.77% Descending)
52-week High: 19.50p
52-week Low: 8.85p
Market Cap: 31.90M
1 year chart
Deal SQZ Tax Free*
*subject to change and depends on individual circumstances.
1 day chart
Advertisement
Watchlist/Portfolio

Add to watchlist:

Only registered members can add into watchlist !

Register here !
Serica Energy
www.serica-energy.com
Deal Serica Energy Tax Free* Losses can exceed
your initial deposit
*subject to change and depends on individual circumstances.

Serica Energy plc is an international oil and gas exploration and production company with primary activities in the United Kingdom, North Sea, Spain and Indonesia.

Pdf

Serica Energy confident over funding

January 21 2013, 9:17am Serica said the final approvals are expected at Columbus and construction is projected to commence on schedule.

Serica Energy (LON:SQZ) said today it had enough funding for its 2013 exploration programme and was confident it can raise more to finance the North Sea Columbus field development.

Serica said the final approvals are expected at Columbus and construction is projected to commence on schedule in 2013 with a target to achieve first gas production mid-2015.

Financing proposals for its share of development costs are being evaluated, it added, and will be put in place when final sanctions for the project are given.

Also in the UK North Sea, a 3D seismic survey is planned to appraise gas prospects in the York area while in the East Irish Sea, Serica expects to complete the Doyle farm-out and site survey prior to drilling.

Elsewhere, in Namibia, full results from the Luderitz Basin 3D seismic survey are due in the second half of 2013 and a drilling decision will be made.

The preliminary review of the fast-track data was very encouraging but fuller evaluation is necessary to complete the full-scale processing and interpretation, which is currently underway with BP.

In Morocco, a two well programme will start in the fourth quarter. The operators of Serica's Sidi Moussa and Foum Draa blocks, Genel Energy and Cairn Energy, have put forward proposals for one well to be drilled in each of the two blocks.

In Ireland, Serica is looking for a partner for the Muckish prospect, one of 12 targets in the Rockall Basin, while at Slyne, Serica and RWE plan a farm-out campaign later in the year.

Tony Craven Walker, Serica’s chairman and interim chief executive, said: “Our resources, although limited, are sufficient to meet our current programme and we are confident that we will be able to raise the funding required for our share of the Columbus field development when that is needed.

“Serica's exposure to the major exploration potential of largely unexplored Atlantic Margin basins offshore Ireland, Morocco and Namibia, coupled with a field development and undrilled prospects in the maturer UK, provides the opportunity for both steady growth and transformational success and we look forward with confidence to 2013."

No investment advice

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is suitable or advisable for any specific person. You further understand that none of the information providers or their affiliates will advise you personally concerning the nature, potential, advisability, value or suitability of any particular security, portfolio of securities, transaction, investment strategy, or other matter.

You understand that the Site may contain opinions from time to time with regard to securities mentioned in other products, including company related products, and that those opinions may be different from those obtained by using another product related to the Company. You understand and agree that contributors may write about securities in which they or their firms have a position, and that they may trade such securities for their own account. In cases where the position is held at the time of publication and such position is known to the Company, appropriate disclosure is made. However, you understand and agree that at the time of any transaction that you make, one or more contributors may have a position in the securities written about. You understand that price and other data is supplied by sources believed to be reliable, that the calculations herein are made using such data, and that neither such data nor such calculations are guaranteed by these sources, the Company, the information providers or any other person or entity, and may not be complete or accurate.

From time to time, reference may be made in our marketing materials to prior articles and opinions we have published. These references may be selective, may reference only a portion of an article or recommendation, and are likely not to be current. As markets change continuously, previously published information and data may not be current and should not be relied upon.