indolent
19 May 2015
Re: summary Did I miss it or did they fail to mention the covenants risk?Do such commentators get compensated reporting with a complimentary and bullish tone over the months and even years often while a share price trends down?
forwardloop
16 May 2015
summary [link]
indolent
15 May 2015
Better to short from highs or stay away 2.5p long in a few weeks for the brave. This is beginning to remind me of the Petropavlovsk saga and others that had or flirted with banking covenant breaches. [link] the period ended March 31, 2015 the Company suffered a net loss of $1,274,754 (year ended December 31, 2014 - net loss of $7,064,478). The Company also had a net working capital deficit of $41,409,660 (December 31, 2014 - $44,306,975) and accumulated deficit of $68,210,308 (December 31, 2014 - $67,061,796). These factors result in a material uncertainty which casts significant doubt upon the Company's ability to continue as a going concern. Please see Note 12 for a discussion on the Company's covenants. Due to current economic conditions and prices, compliance of financial covenants is highly dependent on realized oil pricing in 2015. The Company is currently not in compliance with all financial covenants and sustained low WTI prices could cause the Company to not be in compliance with all financial covenants through 2015. The Company is proactive in managing debt levels and seeking out other financing alternatives to be able to be in compliance with its financial covenants.
Ripley94
15 May 2015
Re: Caza's revenue Not sure.
Kingel
15 May 2015
Caza's revenue Caza Oil & Gas's revenues from oil and natural gas sales fell to US$3,367,214 for the three-month period ended 31 March - 27% down on a year ago.This also represents a quarter-on-quarter decrease of 30% compared to US$4,823,459 in Q4 2014. These decreases are primarily due to lower oil and natural gas prices.Adjusted EBITDA increased by 29% to US$2,756,895 for the three-month period ended March 31, 2015, as compared to US$2,139,210 for the comparative period in 2014.Caza's oil and natural gas liquids (NGL) production increased 65% to 73,643 bbls for the three-month period ended March 31, 2015, from 44,724 bbls for the comparative period in 2014. This was also an increase of 0.5% from 73,291 bbls in Q4 2014.The company's oil and NGL production has increased to 89% of the company's combined oil and natural gas production in Q1 2015 from 73% in Q1 2014. Caza's natural gas production decreased 48% to 53,165 Mcf for the three-month period ended March 31, 2015, from 101,709 Mcf for the comparative period in 2014. Average net production volumes increased 34% to 917 Boe/d for the three-month period ended March 31, 2015, from 685 Boe/d for the comparative period in 2014.Operating net back decreased to $21.02 for the three month period ended March 31, 2015, from $57.76 for the comparative period in 2014.The average oil price received by Caza decreased 56% to US$40.60 per bbl during the three-month period ended March 31, 2015, from US$93.28 per bbl during the comparative period in 2014. The average natural gas price received by Caza decreased 35% to US$3.07 per Mcf during the three-month period ended March 31, 2015, from US$4.69 per Mcf during the comparative period in 2014.Chief executive W. Michael Ford said: "We are pleased to provide our financial and operational results for the first quarter of 2015. Our oil and NGL volumes increased 65% year-on-year. Oil and NGL's now comprise 89% of the Company's combined oil and natural gas production. Our average net production also increased 34% year-on-year. Unfortunately, despite these increases, the Company's revenues have decreased from last year's figures due primarily to the low oil price environment, however adjusted EBITDA did increase by 29%. "While we have taken the prudent decision to cut back on capital expenditures during this time of low oil prices, many of the Company's Bone Spring properties could deliver acceptable rates of return at current price levels, and we expect to drill one Bone Spring obligation well this year and possibly several development wells later in the year assuming prices continue to rise or maintain the current improved levels."[link]
Nunquam
15 May 2015
Bother, looks like car crash
softpawn
11 May 2015
Oil Price Can anyone confirm that if the current price of oil holds, will CAZA keep in profit?
highlander1970
05 May 2015
Re: WTI above $60 today let's see if it can hold as this "should" put Caza in positive territory again with regards cost per barrelGLAH
jaxonsax
15 Apr 2015
WTI WTI back above $55 after inventories grew less than analysts expected. Good news for Caza
TheDrewster
15 Apr 2015
Re: Presume that inludes us? Lower prices force more efficiencies and overcapacity naturally forces down some of CAZA costs.I'm not totally sure the US Govt. would ultimately allow all these resources to be "lost" and then be at the mercy of the eastern supply train, though that may not be any use to small oilers whose assets could be bought up and wells mothballed ... on some metrics these could be a stellar investment at these levels, but the downside could of course be total.
SierraBravo
14 Apr 2015
Re: Presume that inludes us? I think that is looking at rather larger outfits personally. But if they are suffering then it does suggest that is is going to be much much harder for smaller minnows which are by their own nature more marginal. Though there is a size advantage in some ways for smaller outfits in that they can potentially be more nimble.But there is a whole world of pain on its way in the micro oil sector.
indolent
13 Apr 2015
Media oil miths article (bullish slant) [link]
forwardloop
12 Apr 2015
Presume that inludes us? Over the Atlantic, twenty-three US oil companies, which together account for half the world’s excess supply, are in danger of collapse due to Saudi Arabia’s price war, according to an exclusive report from Lambert Energy Advisory cited by the Sunday Times. The US shale oil producers that between them use high-cost fracking techniques to pump more than 0.5m barrels of oil per day, have been dragged deeply into loss by the oil price slump, as the Saudi's continue to ramp up supply in order to force higher-cost US drillers out of business.[link]
holaboo30
08 Apr 2015
Re: RNS yep it seems like they are selling. What is causing the sharp rise today? Can't simply be the slightly rebounding oil price can it?....
SierraBravo
03 Apr 2015
Re: RNS They are selling (as are SIM - junior oils).Some previous GLG holdings RNS'[link]
