highlander1970
01 Jun 2015
Cash in bank is higher than the Mcap.Laughable reallyThis one is about due a nice little re-rateGLAH
onedb1
18 May 2015
Same i lowered my av now to 2,75 from 3p , I feel that at some point these will get a result on Celtic Sea and that alone will more than double if not triple from current levels if they only recoup their expenditure , anything better and we may go double digit > Plus we have the Morocco asset . So given that the Cash at bank is worth over 3p and that forward costs have already been considered for this year and contained. All we have to do is sit and wait for a result , plus monitor what our neighbours are doing .
highlander1970
15 May 2015
Topped up only 43k shares for today but growing my pot quietly here for nowGLAH
ookyfly
07 May 2015
Re: Nice finish Good post, Highlander. Thank you. Ooky.
highlander1970
07 May 2015
Re: Nice finish I was of the mind that Brent would hover around th $75-76 mark come the end of this year as at that price, marginal fields are still do-able.Government entities will not want 1000's of rig workers out of jobs for too long and for rigs to be lying idle, not economically viable as the governments make so much revenue out of it. The Saudis are also raising their sale price to the states and the far east which I think is a sign that their overspending on supporting the price drop has hit harder home than they first thought it would. A very complex one to think through though.The inventories going down will continue for the near future I think which will bode well for all small cap oilers with the states driving season not too far away the gasoline glut will also disappear when they fire up those lovely RV's they cruise around in.Most of the CS oilers have had a bounce in the recent days so I am hoping that that is a sign of actual deals being finalised and as there are plenty rigs available at the moment which are hot stacked and ready to go then it would make sense that the likes of PVR, Kinsale Energy etc are looking at a rig share deal and to get some wells drilled over the summer and early autumn months. I hope I am right on this one.anyhoo, must get some work doneGLAH
onedb1
06 May 2015
Re: Nice finish You are off to a good start !!! May it continue , I sense there are quite a few posters over 10p and much more. In the meantime Brent spot prices touched $69.2 today !! ( I predicted $72 high for the year during the crisis in the 40s , so not bad so far .Nobody commented on the staggering news on inventories today , Down 3.88m !! From a forecasted 1.5m increase . No wonder it rallied so much . That is really good news for a cash rich small co with low G&A costs and 2 assets ready for the taking . On FRR am overall averaged at 0,757 so still in the money , as I think it closed at 0,8 incredibly even a 100% dilution if intended for good purposes and not just to feed the fat cats may still look great vis a vis a CPR of a few hundred million bopds or their operations finally coming good , as the resources are staggering , in the billions worth . Hence why I still hold .
highlander1970
06 May 2015
Nice finish steady rise today with further rises into the closehopefully bodes well for further increases in the short term until some news arrivesGLAH
highlander1970
06 May 2015
Re: Timed that well! was more than a little miffed with the FRR news this morning and dumped my 3m that I had gathered over time. Made enough to essentially leave my trading pot as a free carry.I do suspect that their SP will drift down now for a while so I might get back in there eventually but that will be dependant on what happens with SN's proposed 45% increase in share ceiling.It can only lead to more dilution.Anyhoo, sorry for the O/t guys back to FASTGlad to see a rise in the SP today, been watching this one for a while and hopefully we have seen the bottom of this fall. With the cash worth more than the current SP this should move up healthily once news starts to filter through.Any moves in the Celtic sea for any of the operators should have a knock on effect here I reckon and the POO rising steadily as it has companies willlook favourably at doing deals again in the near future.GLAH
onedb1
06 May 2015
Re: Timed that well! Better than my average I still hold my lot at 3p . I did sell 1m at 0,81 on FRR , but still have loads of those , made just 0,1p per share so not lots . This little firm has the advantage of cash and no debts with 2 projects that could be adding value quite substantially . But we'll see as am a little underwater . Am doing far better on my Cfds and Spread bets than my physical trades in the last few weeks pfft !!
highlander1970
06 May 2015
Timed that well! managed to get all at an average of 2.29 this morning and showing a small profit alreadyI am not usually that lucky!!GLAH
highlander1970
06 May 2015
Bought in took a physical shares position here this morning, would only let me buy 436k shares without going to negotiated tradeHoping (as we all are) for a rapid recovery in SP hereGAH
Hypnotoad1
03 May 2015
Re: Brent Spot over $65 It looks like Providence's farm-in partner have been able to get finance. If a deal is finalised, it should push up the SP here also as a rig may not be too far off. [link]
onedb1
02 May 2015
Re: Brent Spot over $65 Hi Hypno,Thanks for your response too. Fastnet I believe said that the CS asset was never going to get drilled in 2016 , but the farm out could happen well before that . In a way the bigger news was the Irish government permit , so when Petronas kicks off via Kinsale Energy we'll certainly know we are next . You are right with what you say though . I sense the CS area will come into focus more and more soon , and we can afford to financially wait till the rigs are in place . But the farm out will happen way before . At these prices therefore its a smart buy at a very low level and wait for the news that will come . The price can't realistically drift much further due to the cash balance so its a smart buy ( yet not a quick in out in a week trade )
Hypnotoad1
01 May 2015
Re: Brent Spot over $65 Hi onedb1, thanks for the reply. Unfortunately Petronas have not yet scheduled a rig to drill Middleton so it is unlikely it will be drilled this year since drilling is really only feasible in the summer (Barryroe was drilled in the winter due to delays with the rig and it ended up costing a fortune and had a lot of downtime due to weather). I'm afraid we will not see any drilling in this year in the Celtic Sea at all. One of the biggest costs with drilling in the Celtic Sea is the mobilization and demobilization cost associated with physically getting the rig to location. Since there are a number of companies looking to drill in the Celtic Sea and costs MUST be kept low due to the oil price at present, a rig sharing agreement with all Celtic Sea operators is the most likely outcome. The big delay in my opinion is to do with the Barryroe farmout. I think we will be waiting until oil prices come back up and so we will not see much action this year.
onedb1
30 Apr 2015
Re: Brent Spot over $65 Hi H The rig am mentioning is the one that Kinsale Energy ( a Petronas subsidiary) will/is using for the Middleton gas project . From memory the farm out with Landsdowne Oil and Gas has been given the go ahead by the Irish government in mid to late Feb. ( check the Landsdowne Oil and Gas website ) Hence my reading through the lines and being bullish that once we hear the result ( not to mention have a rig nearby ) it should increase the appetite from the majors , that we are told have already taken a look and like the technical appraisal . The deal on the Celtic Sea asset is therefore not an if , but just a when. So trading sub 3/4p is quite frankly oversold just on the above and my other post view . We know that Brent prices have caused the delay not the quality of the asset . So if just over 3p is cash , and they told us already about the year ahead G&A we can safely assume that even by Dec 2015 cash will still be at around 3p in the bank We then know that they spent around $20-22m on the Celtic Sea asset . In my view this is likely to be recovered due to the fact that different majors have already looked at the technical appraisal and the feedback was positive We are told that a major ( Petronas sub Kinsale Energy ) has now been given the green light since Feb 2015 so the area is promising indeed . We also know that $20-22m could easily just be a minimum figure and that they'll get a free carry or extra cash . Add at least 0.5/1p for the 3D surveys , as these have value after all .Then we have our offshore Morrocco assets again the area is very promising and I have been looking at what our neighbours have been upto .So at 2.3/2.4 I feel that the share has little risk with 2 major assets , and cash at bank covering not only the market cap but costs going forward too . We also have a CEO averaged at 6p if not mistaken ( fair enough its not a major stake) but its still money . So this is my view backed with some data I suppose 
) Hope that helped Always DYOR and remember these are just my views , check the balance sheet , the website I mentioned and all my points . No advice intended ,am still long at 3p and should the price remain this low much longer I should free up some capital soon , ( I almost hope it does to be fair ) ATB onedb1
