Serica Energy plc (SQZZF) Shareholder/Analyst Call Transcript
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SA Transcripts157.38K FollowersFollow5ShareSaveCommentsPlay Earnings CallPlay Earnings Call Serica Energy plc (SQZZF) Shareholder/Analyst Call December 16, 2025 5:00 AM EST Company Participants Christopher Cox - CEO & DirectorMartin Copeland - CFO & DirectorAndrew Benbow Presentation Operator Good morning, and welcome to the Serica Energy plc acquisition of Portfolio Assets in the North Sea Investor Presentation. [Operator Instructions] Before we begin, I'd like to submit the following poll. I'd now like to hand you over to CEO, Chris Cox. Good morning to you, sir. Christopher CoxCEO & Director Thank you. Good morning, and welcome. I'm joined as usual by Martin Copeland, our CFO; and Andrew Benbow, our Head of Investor Relations. And we're here to bring you some festive cheer today as we describe what is a great deal for our shareholders. Martin and I will run through a short presentation and then take questions. So please submit questions as we go along, and we will answer as many as we can. The deal we've announced this morning is positive for Serica for a number of reasons. And those who listen to our presentation when announcing the Prax acquisition may hear some repetition today. If it is repetitive, it's because we are seeking to deliver on our strategy in a consistent manner. And this deal is very much in line with that strategy. It increases our reserves, further diversifies our portfolio and delivers material tax-efficient cash generation at an attractive valuation. Inclusive of the Prax Upstream and associated transactions, we are set to increase our reserves by more than 1/4 and add materially to our production. And the production we're adding is from high-quality, high uptime assets that will improve our production stability and the reliability of our cash flows. This deal also brings us further optionality when it comes to our organic growth projects. Of course, we now know that the budget