0R15 8520.0 0.0% 0R1E 8203.0 0.0% 0M69 21090.0 67.5139% 0R2V 226.02 9878.8079% 0QYR None None% 0QYP 412.97 -2.8306% 0RUK 2652.0 -9.2402% 0RYA 1554.0 -0.7029% 0RIH 174.55 -1.3563% 0RIH 165.15 -5.3853% 0R1O 198.5 9800.2494% 0R1O None None% 0QFP None None% 0M2Z 267.777 -0.1763% 0VSO 32.05 -9.9846% 0R1I None None% 0QZI 559.0 0.7207% 0QZ0 220.0 0.0% 0NZF None None% 0YXG 165.7358 2.7149%

small-cap

Financial Update On One Oil & Gas Company - SQZ

Apr 26, 2024 | Team Kalkine
Financial Update On One Oil & Gas Company - SQZ

SQZ:LSE
Investment Type
Small-Cap
Risk Level
Action
Rec. Price (GBX)

Serica Energy PLC  

Serica Energy PLC (LSE: SQZ) is an FTSE AIM UK 50 index-listed United Kingdom-based oil and gas company. The Company has exploration and development activities based in the United Kingdom, Ireland, Namibia, and Morocco and an economic interest in an oilfield offshore Norway.. 

FY23 Results (Released on 24 April 2024)

  • Operational Update: The company reported the production of 35.2 kboepd for FY23 as compared to the production of 26.2 kboepd in FY22 on account of improved demand for oil and gas during the reported period. Further, the sales volumes also improved to 12.2 mmboe in FY23 versus the sales of 9.3 mmboe during pcp.
  • Financial Update The company reported a decline in the revenue to GBP 633 mn during FY23 as compared to GBP 812 mN in FY22 on account of lower average realized sales prices during FY23. Also, the EBITDAX also slipped to GBP 381 n during the reported period(FY23) versus the EBITDAX of GBP 617 mn during pcp.
  • Dividend Declaration: The management announced the final dividend of GBX 14 per share, which will be paid on 24 July 2024.
  • Outlook: The production guidance for FY24 is adjusted to a range of 41,000 - 46,000 boe/d. This revised range, narrower than the previous 41,000 - 48,000 boe/d, accounts for the unplanned shutdown of Erskine (production recently restarted and expected to ramp up), production to date in FY24 from the rest of the portfolio, and the delayed start of the Triton area drilling program.

Share Price Chart

Markets are trading in a highly volatile zone currently due to certain macroeconomic issues and geopolitical tensions prevailing. Therefore, it is prudent to follow a cautious approach while investing.

Serica Energy PLC (LSE: SQZ) was trading at the closing market price of GBX 206.60  (as of 25 April 2024)

Note 1: Past performance is not a reliable indicator of future performance.

Note 2: The reference date for all price data, currency, technical indicators, support, and resistance level is 25 April 2024. The reference data in this report has been partly sourced from REFINITIV.

Note 3: ‘Kalkine reports are prepared based on the stock prices captured either from the London Stock Exchange (LSE) and or REFINITIV. Typically, both sources (LSE and or REFINITIV) may reflect stock prices with a delay which could be a lag of 15-20 minutes. There can be no assurance that future results or events will be consistent with the information provided in the report. The information is subject to change without any prior notice.

Note 4: Dividend Yield may vary as per the stock price movement.


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