Serica Energy Ord Shs SQZZF

Energy Oil & Gas E&P

Serica Energy plc is a mid-tier independent oil and gas company. The principal activity of the Company and its subsidiaries is to identify, acquire, explore and subsequently exploit oil and gas reserves. Its activities are located in the United Kingdom (UK). The Company owns and operates the Bruce (98%), Keith (100%) and Rhum (50%) assets consisting of over 25 wells, three bridge-linked platforms and extensive subsea pipelines and infrastructure that tie-in Rhum, Keith and the Western Area of Bruce to the Bruce facilities. Its Triton Area consists of eight producing oil fields developed via common infrastructure in the UK Central North Sea, located over 190 kilometers (km) east of Aberdeen. Its Columbus Development is located in the UK Central North Sea and produces from a gas-condensate reservoir in the Forties Sandstone Formation. The Orlando Field is located on license P.1606 (UKCS Block 3/3b), over 11 km east of the Ninian Field. It also operates in Erskine, Mansell and Skerryvore.

OTCPK:SQZZF - Post by User

Serica Energy Ord Shs

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Post by CalifDreamingon Mar 05, 2008 4:44pm

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Post# 14602830

I''ll be glad when these sellers are gone...

Only so much I can gobble up at these prices. So, let's see. 65% of Kambuna - 50MM cfd throwing off $5.40+ mcf = $64MM revs (or about 1750 bpd oil equiv at current $100 oil prices) Plus 65% of ~5000 bpd condensate = 3,250 bpd net x $100 bbl = $118MM revs. Say 5000 bpd net oil equiv. Say $60 netbacks = $110MM cash flow. Current mc is $230 mc including $80-$100MM in cash. Serica is trading about ~1x '09 cf and you get all the upside from the 3 exploration spuds (Ireland, Norway and Vietnam) the one appraisal well at Chablis with about $11.50 per share unrisked upside.

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