Serica energy(SQZ)

[petroleum1]

This is not a recommendation to buy SQZ but rather to encourage discussion on this
company.

SQZ market cap now is £71m. It is entering into agreement with BP to buy 3 fields in the north sea at practically nil initial cost. Some costs will be paid back from running these 3 fields later on.

http://www.serica-energy.com/downloads/ ... tation.pdf

If I am correct BP seeks to reduce abandonment cost through Serica as the latter has tax allowable exemptions. There are some discussion boards where they put the new Market cap at £600. I know this could a hype, this is why I am bringing this subject to light here.

Share dealing in SQZ was suspended few days ago.

[wanderer101]

They returned to trading this morning. Up 160 percent so far at 72 p.

(I hold but claim no foresight/vision/talent - have had them for years as part of an o&g portfolio which has been a bit painful in recent years.)