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MarketScreener Homepage  >  Equities  >  London Stock Exchange  >  Serica Energy plc    SQZ   GB00B0CY5V57

SERICA ENERGY PLC

(SQZ)
  Report
Delayed Quote. Delayed London Stock Exchange - 01/15 11:35:12 am
126.2 GBX   -3.96%
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Serica Energy : Bruce Platform Restart

03/10/2020 | 09:50am EST

Serica Energy plc (AIM: SQZ) is pleased to announce that production has restarted from the Bruce platform.

As previously announced on 30 January 2020, production was halted on Bruce whilst engineering work was carried out to secure an unused caisson, which was found to be in a deteriorated condition. The engineering work has been successfully completed and production has restarted. It is anticipated that production from the Bruce, Keith and Rhum fields will be fully restored over the coming days.

Mitch Flegg, Chief Executive of Serica Energy, commented:

'We are delighted that we have been able to restart production considerably sooner than we had initially predicted.

Our expert teams onshore and offshore have successfully executed a programme of repairs during some of the most difficult weather conditions experienced in the North Sea for several years. Together with selected contractors we have completed these repairs safely and with no environmental impact.

This work will have no negative impact on future production rates or on the ultimate recovery of reserves from Bruce, Keith and Rhum.'

Contact:

Tel: +44 (0)20 7457 2020

NOTES TO EDITORS

Serica Energy is a British independent oil and gas exploration and production company with exploration, development and production assets in the UK and exploration interests offshore Namibia.

Serica is the operator of the producing Bruce, Keith and Rhum fields in the UK Northern North Sea, holding a 98% interest in the Bruce field, a 100% interest in the Keith field and a 50% interest in the Rhum field.

Serica holds an 18% non-operated interest in the producing Erskine field in the UK Central North Sea and a 50% operated interest in the Columbus field for which development has been approved by the OGA and has commenced.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 217 M - -
Net income 2020 22,1 M - -
Net cash 2020 135 M - -
P/E ratio 2020 17,5x
Yield 2020 2,18%
Capitalization 481 M 482 M -
EV / Sales 2020 1,59x
EV / Sales 2021 1,25x
Nbr of Employees 145
Free-Float 58,0%
Chart SERICA ENERGY PLC
Duration : Period :
Serica Energy plc Technical Analysis Chart | SQZ | GB00B0CY5V57 | MarketScreener
Technical analysis trends SERICA ENERGY PLC
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 1,88 $
Last Close Price 1,80 $
Spread / Highest target 21,6%
Spread / Average Target 4,76%
Spread / Lowest Target -11,5%
EPS Revisions
Managers and Directors
NameTitle
Mitchell Robert Flegg Chief Executive Officer & Director
Antony Craven Walker Executive Chairman
Mike Killeen Vice President-Operations
Andrew Stewart Bell Vice President-Finance
Clara Elaine Altobell Vice President-Technical
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