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SOLO - I am liking it enough that I may tell some of my contacts about it.

This from an FT article a couple of days back...

October 29, 2012 2:00 pm

UK exposed to gas supply crunch

By Sylvia Pfeifer

“The key question is: where is the next Qatar or the next Australia,” says Andrew Walker, vice-president global LNG at BG Group.

http://www.ft.com/cms/s/0/040d9d4e-178f-11e2-8ebe-00144feabdc0.html#axzz2ArcaJndG

and we have an Africa Oil conference going on where SOLO's neighbours are telling the World that the Rovuma Basin is the next Qatar.
 
big.chart


BOR - looks like some of the smartest hedge funds are buying Falkland oil companies whilst the rest of the market ignores them

http://www.reuters.com/article/2012/10/31/uk-hedge-funds-falklands-idUSLNE89U01M20121031
 
Nutty finish on LGO today. If no follow through / news tomorrow think I may exit for now as it is right at the 200 day MA which should act as resistance unless there is seriously good news in which case the rabble can start speculating about 3p or 7p again.

Will get more SOLO.
 
Aghast at LGO performance. Smashing through the 200 day MA on no news. The Force is strong with this one. Next technical milestone will be confirmation of breakout of 200 day MA with a two day close above I think it is the 0.9p level (currently it is trading at 1p)
 
Similarly shocked at LGO. I suppose it does demonstrate how pi sentiment can move an SP if there is enough noise on the bulletin boards.

SOLO now has negative sentiment due to the lethargy of the BoD in making any further announcement, thus wasting any momentum the share had.
 
LGO now broken through 1.1p. There HAS to be news for this momentum, surely? Even talk of a possible takeover on advfn.

Hope some of the profit taking goes into SOLO as it desperately needs some buying pressure.
 
jaspa888 said:
big.chart
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SOLO rose on high volume and is retracing to 200 day Moving Average on low volume. That in itself should signify 'positive divergence' as technical analysts/chartists would put it. You can see the MACD and RSI have also retraced towards more normal levels. Just going sideways from here should allow them to fully normalise. I'd watch for weakness around the T+10 and T+20 days being 'anniversaried' from the original spike. i.e. next two-three weeks.

On a fundamental basis with the the potential upside to 1.5p it will I think be worth picking some up if it does dip into 0.4's. On a six to nine month view. Although I expect East Africa is so hot right now and Shell are burnt after failure on Cove that a deal could be done in the 3-6 months window.
 
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It would usually be that time of the month where one anticipates what Tom Bulford will tip in Novembers RHPS. But his recent picks have been so awful I think no one cares anymore.

Meanwhile CPX AGM is due next week. Hopefully they will have something relatively upbeat to say but not expecting any fireworks short term.
 
Look at this for perfect expression of the importance of 50 day and 200 day MA lines. Acting as support and resistance and then whoosh when cleared. I'd expect a retrace after such a short term move but trash is inherently unpredictable.

big.chart
 
Africa oil struck again in kenya! Maybe they'll chuck some bone over to horn to continue exploration in somalia in the near future. Africa oil owns 51% of horn petroleum.
 
In the next two weeks, decision on keeping or lifting the ban on mining in Greenland is due. Keep an eye out for GGG on Aussie stock exchange.
 
Can't believe Bulfords latest wheeze. Trying to teach PI's how he supposedly goes about picking winners , how about just doing your job of actually coming up with some decent interesting tips ?
 
s28 said:
EOG - this one just came back onto my radar. Partly because Management just awarded themselves options. (Being cynical if you are Management of a Company you want to award yourself options when the price is low and you think newsflow is going to get better so it'll be easy to meet option award vesting conditions). Chart shows a bit of technical work to do to escape current 50 and 200 day MA pincer movement but it has shown promising attempts to spike out to upside previously. The other reason it came to my attention again is because Tom Bulford mentioned it with regard to it's prospective Irish licences. However one thing on the back burner is it's shale gas potential which is under Government review or something because of potential to cause earthquakes etc but could make it interesting if that comes back. US is mad for shale gas and the Government here might think there is one way to reduce reliance on Russian gas and higher international prices.

They produce about 200 bopd so might not require too much funding related dilution ? Need to check that.

big.chart
Click to expand...

Shale Gas is rubbish but it will suit some and EOG is one of the only plays.
Chart is SOU SOLO and LGO esque
News due in coming days
 
LGO - crazy. Why buy that now at 1.3p when it was 0.4p just two weeks ago ?
 
While most of the small cap messiahs have been discredited over the last 3-4 years, EK still seems to have huge sway with PIs.
 
I think EK retains credibility because he puts his own money to work and he comes at things from a short bias so if he goes long it almost is a double positive.
 
Agreed s28. With his following, I think he is one of the few individuals that can actually dictate SP in small caps.

GON looking poor this morning. You still holding mate?
 
GON - still holding. Retain faith because Management own 30%+. Annual revenues of the order of £10m suggests there is a business there. Just need to get it delivering profits and then a £2-3m Mkt Cap looks totally wrong. Note the Holding RNS from last week some Actuary at Investment Consulting group taking over 3% in personal capacity. I think todays 'drop' reflects someone trying to spread-bet it and getting caught the wrong side and being margin-called.
 
EOG - finances look ok-ish ? 200 bopd should generate over $6m p.a. which should cover overheads and small drills

From the October 2012 Final Results :-

Financial performance

* Revenue up 34% to £5.1m (2011: £3.8m)

* Pre-tax profit before impairment and exploration write-down £1.2m (2011: £0.7m)

* Net loss £11.3m (2011: £0.2m) after exploration write-down of £12.5m in
respect of Romania and PEDL150

* Cash generated from continuing operations £2.1m (2011: £0.7m)

* Net cash £0.2m (2011: £1.9m)

* Repaid £1m term loan


to finance bigger Irish prospects will require a fundraising/farm-out (they are presenting on November 12th at an Irish Explo conference http://www.pip.ie/atlantic_ireland_conference_2012.PAGE336.html )

shale gas report due out over next few days should bring some exposure to their position even though I don't rate shale gas a 'prize' of $1.5 trillion may excite some interest
 
EK is long about 70 stocks right now. I think unfortunately he has followed some pretty terrible gurus in areas he hasn't a clue so he has lots of awful oil and gas positions many underwater. But he seems to be making some decent bets where he goes against the herd which is what I like.

e.g. he is bullish MWA and AFCR
 
Looks like USOP haven't been able to flow it thus the need to try to ramp it to raise money ?

The bulls**t these guys and their hangers on are spouting is incredible.

'Biggest oil lake in US History' er... '187m barrels' there is an inconsistency in their own b.s. !
 
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EOG looks interesting, but that £200k cash figure suggests imminent dilution. I also heard rumours that they are getting out far less than the reported 200 bopd.

How do you rate the BoD?
 
I think the 200 bopd is quite robust. It comes from a number of small mature conventional fields can't see it dropping off that greatly. This isn't SER where they need to b.s. the market about their figures.

EOG new guys seems much better than the husband and wife who used to run it.

I've no doubt they will dilute. In comparison with others they do not need a rescue rights issue as they have cashflow and the opportunities they would like to drill are big enough they should be able to engender enough interest to get away a placing at a much higher price.
 
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s28 said:
Looks like USOP haven't been able to flow it thus the need to try to ramp it to raise money ?

The bulls**t these guys and their hangers on are spouting is incredible.

'Biggest oil lake in US History' er... '187m barrels' there is an inconsistency in their own b.s. !
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They will not raise any money before flow results. Who is going to take up the shares?

Its actually a re-hash of the nevada tv crew report.

Flowing is not as straight forward as it seems considering they will be testing more than 10 zones. The level of suspicion against USOP means hey need to make sure they do everything to the book and very thoroughly.
 
Here is an EOG presentation has bios of the Management. None of them seem to have been associated with any disasters

http://www.europaoil.com/documents/Reports/proactive_presentation_31_05_12.pdf

and here is a video of CEO at Oilbarrel (makes the point his options kick in above 25p)

http://www.youtube.com/watch?v=27g_sDYKBp0

I like the fact they are keeping a lid on any 'shale gas' bandwagon jumping

http://www.iii.co.uk/articles/36125/view-top-europa-oil-gas

Does Europa intend to pursue any shale gas operations if the frac go-ahead is given?

We've tried to avoid jumping on the shale gas bandwagon. Our licence PEDL 181 might have shale gas potential. We've certainly mentioned it in our previous annual report. We're going to talk to our joint venture partners and it may be something that we review with them. Europa is not a shale gas company. We do not have the expertise to become a shale gas player currently.

With shale gas, you either do it 100% or you don't. We're not going to dabble in shale gas and have a little sideshow. If you're going to operate shale gas, you do it 100%, as it is a very specialised part of the business.

That doesn't mean to say that we wouldn't participate in it, but we'd be looking to participate in it with a partner whose main business is shale gas. Whilst we don't see ourselves as a mainline shale gas player, it would be stupid for us not to evaluate further what might be done and bring in a partner.

But [we] see ourselves as a conventional oil and gas player. When we're looking at new ventures, our strategy is to get into conventional oil and gas.

So PEDL 181 may be something that we investigate further. And in Western Sahara, there is shale gas potential.
 
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Look at the b.s. the Shale Gas proponents have come out with in the Daily Mail. I doubt a journalist comes up with that sort of nonsense himself. A PR firm is clearly working behind the scenes feeding them lines/graphics etc

"..FTSE 100 firm British Shale..." give us a fracking break you b.s. ing ****s

article-2053686-0E8AC0F900000578-452_306x740.jpg
 
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Why aren't EOG making progress on the Barynx prospect in France? That is suppose to be the company maker but nothing seems to be happening.
 
They have been talking about that for years. My understanding was with likes of Total next door shouldn't be too hard to get some sort of farm in but they have failed to deliver anything. I think if they can't get any buy in it must be a duff 'asset'.

Edit

I glossed over it in presentation as didn't regard it as being important. I think it is a duff asset. 200 odd bcf is miniscule really compared to multi-TCF fields next door. No wonder they can't get a Major interested to fund it.
 
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EDR - which is partnered with EOG on a number of projects had results today. £8m Mkt Cap with £3m cash. Only c.100 bopd but they did highlight the potential of their shale gas licences. Talking about a potential 1 Tcf net to them. Hasn't had much positive impact on them so far.

"We expect our UK shale-gas assets to be an increasing value driver for the business with an expectation of progress in resolving the regulatory uncertainty and the resumption of exploration activity in the UK during the coming period. We are very encouraged by the independent verification of our view of the potential for our Gainsborough Trough acreage and we will look to expand our position in this newly emerging UK play including in the delayed 14th Landward Licensing Round where Egdon expects to be a participant."
 
EOG well the chart was suggesting news

Technical Update on Irish Atlantic Margin Mullen Prospect
& Participation in the Atlantic Ireland 2012 Conference, Dublin

Europa Oil & Gas (Holdings) plc, the AIM listed oil and gas exploration,
development and production company focused on Europe, is pleased to provide a
technical update on its 100% owned Licensing Options (`LO') 11/7 and LO 11/8,
located in the highly prospective South Porcupine Basin, in the Irish Atlantic
Margin, where two large, previously unknown prospects, Mullen and Kiernan, were
identified on Europa's acreage in September 2012.

Highlights

* Europa believes the South Porcupine Basin has the potential to host a new
hydrocarbon province and is encouraged by the results of the initial
prospect evaluation

* Indicative resources at Mullen range from 66 million (P90) up to
potentially 1.1 billion (P10) barrels of oil

* P50 resources at Mullen are estimated at 318 million barrels of oil and are
supported on seismic data by an amplitude shut-off at a constant depth

* First pass seismic reprocessing over the Mullen prospect has been completed
and reprocessing over Kiernan is on-going

* Europa is seeking a joint venture partner to undertake further technical
work to de-risk the Mullen and Kiernan prospects and mature them to
drillable status

* The Company is presenting the Mullen prospect at the Atlantic Ireland 2012
Conference in Dublin on 12 November 2012

Hugh Mackay, CEO of Europa, commented, "We believe the South Porcupine Basin
has the potential to host a new hydrocarbon province. First pass seismic
reprocessing over our Mullen prospect has proved positive. We are pleased to
note that the P50 resources of 318 million barrels of oil are supported by an
amplitude shut off, with indicative resources ranging from 66 million (P90) up
to over a billion (P10) barrels of oil. Since our identification of these two
large, previously unknown prospects, significant progress has been made towards
uncovering the potential of these large structures. Whilst reprocessing of
seismic for Kiernan, the larger of the two structures with stratigraphic
closures of up to 244sq km, is still on-going, the technical case of Mullen has
been further matured and will be presented at the Atlantic Ireland 2012
Conference in Dublin on 12 November 2012. Additionally the prospectivity of the
South Porcupine basin will be further tested by the upcoming ExxonMobil Dunquin
well, which is expected to be drilled in Q1 2013. In order to maximise the
potential of these prospects we remain in search of a joint venture partner
with whom to further de-risk Mullen and Kiernan and mature them to a drillable
status."
 
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If EOG breaks 10p it looks like it could go on a decent run. People talking about those Irish prospects worth a multiple of the current price and still have the Shale Gas b.s. to come as well. May look to add more during the course of the day.

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jaspa888 said:
Thx for EOG, s28. I put £4.5k in it late last night.
Click to expand...

Nice.

I'd be looking for some good momentum here now given the chart and expected newsflow. There is no doubt they will look to raise money at some point so they will have concerted go at ramping up the story and not being desperate due to having some cashflow they shouldn't get dicked on the pricing.

Expect loads of puff pieces soon from likes of Oilbarrel, Proactive, Shares Mag they love these 'low risk cashflow producers with potential big exploration upside story'. They can feel a bit more comfortable tipping them as they are not totally "sh*t or bust".
 
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OK re EOG lets throw some numbers at it.

They have only come out with Mullen data so far but it's potential 300m barrels.

Say they farm that down to 50% ? They will then have potential 150m barrels. assume 33% recovery that'll be 50m bbls net to them. At $10/bbl that could be worth $500m to a £12m Mkt Cap company. Any way you slice and dice that it's huge. Assume just 1 in 10 chance of drill success you'd expect on statistical basis $25-50m of 'value' to accrue to EOG just from the drill hype ? Again $25-50m for a £12m Company is huge.

Now they also say the Kiernan prospect is bigger so still got that hyping to come.

Their partner in some other ventures EDR Egdon Resources said they reckon they have potential 1 Tcf gas net to them. Assuming EOG come up with some similar number that is 160m barrels of oil equivalent.

This starts to look like it should be valued as a proper Exploration punt in £25-50m range rather than a small producer at £12m. (DES and ARG who I don't think have anything are valued at £70m and £50m !)

The chart shows potential for a move from 10p to 40p so you could see some serious moves in coming weeks on this one. I have a 20p target right now just because it's a big round number target no science behind it.
 
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Hate gap up openings but going to have some more here because I think it will be a breakaway gap. Here's hoping. If it does come back to 8p I'll just get some more.

p.php
 
LGO no longer interested in RRL as partner in TT.

Good thing if they have finances sorted.
 
Yeah Go LGO... shame I sold most between 0.80 and 1.00 :-D

That could keep going I guess given 3p and 7p 'targets' but I think those targets are flaky.

SOLO I have much more faith in the fundamental upside from here.

EOG much more faith in the newsflow to come from here.
 
EOG

This is what makes EOG news today really interesting. 'Conjugate basins'.

http://www.proactiveinvestors.co.uk...lti-billion-barrel-oil-discoveries-49465.html

Meanwhile, it is also thought that the same concepts could potentially apply to prospects either side of the North Atlantic – though the moratorium on drilling off America’s east coast means it is harder to evaluate.

It is the similarities across the North Atlantic that provides the high impact potential offshore Ireland.

Specifically the Jeanne D'Arc basin in Canada is now being compared with the Porcupine basin, off Ireland’s south west coast.

Jeanne D'Arc hosts ExxonMobile’s - perhaps prophetically named - Hibernia field. The large 1.3 bln barrel field famously has the largest oil platform in the industry and has single wells that yield 50,000 barrels of oil each day.

And next year Exxon is set to drill the hotly anticipated Dunquin exploration well, alongside partners ENI, Repsol and AIM quoted Providence Resources (LON: PVR).
 
I am hoping 2p being tested over the next 2 weeks in LGO.. Funny reading that Ritson will be entitled to 20m shares if he can achieve 20p per share by 31/12/12.... here's dreaming!
 
Sareum maybe worth a punt as Tim is confident of a deal by 31/12/12. Sounds to me they have had couple of offers and they will give an answer soon to the winning Pharma.
 
CPX - no AGM statement which is a bit odd

Searching around on general industry perspectives on new battery technology for cars I came across this which is encouraging

http://seekingalpha.com/article/927...akes-again-in-the-micro-hybrid-battery-battle

In its presentation at this year's ELBC, BMW reported on preliminary testing they conducted on a dual-device system that pairs lithium-ion batteries with supercapacitors.

While investors often like to think in terms of "killer apps" and "silver bullet solutions," it's increasingly clear that the micro-hybrid battery space will provide more than ample opportunities for a variety of solutions ranging from enhanced flooded and AGM batteries at the lower end of the spectrum to advanced PbC, lithium-ion and dual device solutions at the high end. There will be competition and it may well be bloody, but in a market where each 1% market share can represent $20 to $100 million in incremental revenue, there's plenty of room for several successful companies ranging from established manufacturers to advanced technology upstarts. From my perspective, the greatest challenge facing all contenders in the micro-hybrid battery battle will be ramping production capacity fast enough to meet soaring demand.
 
coming back a bit today

MM's must have got rid of T+10 players

big.chart
 
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EOG - building a solid base for continuation move the size of their Irish prospects look promising compared with Exxons Dunquin prospect

Europa-Oil-Gas-Seeking-Partner-to-De-Risk-Mullen-Prospect.jpg
 
GCM news in Bangladesh newspapers suggesting some progress on the ground citing Government and GCM sources. Stock been held back for a while by a seller that overhang being cleared should help eventually.
 
s28 - can you please scrutinize LRL if you have time.

£31m in bank
£30 mcap

company making drills ongoing in China. Results expected end of Nov

Just heard about this share today from someone. No position yet.
 
LRL - met them when they did a City roadshow a few years back was a gold play in China then and didn't seem particularly interesting

I see it is now a gas play in China. What's not to like. China massively and ongoing short of energy and they are going to address that.

Only issue i'd have is I think from first glance it is unconventional gas play ? These whether it is CBM or shale or tight they often require a lot of capex up front and then a lag whilst they drill (usually use horizontal techniques / fraccing ?) and then from memory of IGAS (which now seems to have dropped its unconventional plays and gone back to conventional) it can take years to de-water and finally find out flow rates. Not sure what type of play LRL is ?

Other issue i'd have with a Company with £31m Mkt Cap and £30m cash is that is demonstrates capital indiscipline on the part of Management/BoD and they are obviously running it for themselves rather than shareholders. i.e.

£31m Mkt Cap company finds a £50m value gas field the shares will go up about 60% (in theory)

£1m Mkt Cap company finds a £50m value gas field the the shares will go up 5000% (in theory)

Is that cash they have unencumbered ? Is it in China and they can't take it out due to FX controls ?
 
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LRL chart shows it's spiked into 200 day MA

I'd probably wait for a retest of 50 day or breakout and confirmation of 200 day before considering it from chart trading perspective.

big.chart
 
Yes it is CBM. Coal Bed Methane. It is really hard to establish them as reserves, lot of upfront capex, long wait for drilling results and then a long wait to de-water (years)

I would not get too excited about it.

Have had experience with lots of such CBM plays CHL had one supposed TCF play in Indonesia, their comps TXS:TCF (great ticker !) I think came to nothing and IGAS started as a much bally-hooed CBM play before quietly moving to conventional oil and gas after spending lots and probably achieving little.
 
Dart Energy to IPO in UK at some point. Was a very successful Aussie CBM company who sold out to a big player if I recall. The tail of that portfolio is what is going to float here I think.

http://www.telegraph.co.uk/finance/markets/9623172/Dart-Energy-looks-to-raise-40m-in-IPO-on-Aim.html

May bring some more attention to these unconventional gas plays. I don't like to play unconventional only gas plays because they are pretty hard to justify from economic point of view it is more of an energy security issue for Countries with no other options so Investor sentiment for them is fickle. However a play like EOG which has several conventional plays and the unconventional stuff is gravy looks more appealing.
 
EOG approaching a Golden Cross

Monday is the Irish Atlantic Conference so they will get some idea of the interest in their farm-out offering.

big.chart
 
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s28 - LRL are doing on market buy back till sept 2013, which could be one reason why its low


Its ISAable as well.

I take on board what you are saying s28. Your critical eye is always appreciated.
 
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i think both GDG and FTO are in the same CBM market in China so worth looking at as well to compare and contrast

GDG had an update today... 15 years !

Randeep Grewal, Founder & Chairman of Green Dragon Gas, commented:

"These are exciting times. It is truly rewarding to see over 15 years of hard work come to bear fruit. The many years of diligent infrastructure planning, concurrent with the difficult exploration years, has started to show its returns.

Our IPF has three available sales channels: CNG, PNG and Power. These multiple sales channels provide maximum flexibility to the Company to capitalise on the very lucrative gas demand in China without a dependency on any single channel.

Importantly, in advance of the key period of expected production growth, we have executed a plan capable of delivering cash to the bottom line through multiple gas sales channels with a capacity that exceeds our production target of 18 BCFPY, through diligence and design."
 
EOG - On Monday they'll be presenting alongside a £50-60m company in Fastnet and a £350m company in Providence. Really are in the big league now... apart from their Market Cap that is.

16.00 - 17.30 Session 3 - Prospects 2 Go continued

Prospects 2 Go - Jerry Chessell (Two Seas Oil & Gas)

Prospects 2 Go - Keith Byrne (Providence Resources)

Prospects 2 Go - Hugh Mackay (Europa Oil & Gas)

Prospects 2 Go - Peter Mikkelsen (Fastnet Petroleum)
 
EOG - setting up nicely here going into next week

May continue to accumulate as technicals not looking overbought and the herd do not seem to have recognised the real potential here.
 
Liking EOG steady rise. It is capped by heavy resistance in 10-13p range but could be fireworks if we get the right news over coming weeks.

s28 said:
If EOG breaks 10p it looks like it could go on a decent run. People talking about those Irish prospects worth a multiple of the current price and still have the Shale Gas b.s. to come as well. May look to add more during the course of the day.

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Year To Date (YTD) high is around 13p intraday but about 11.50-11.75p on a closing basis

big.chart
 
I think it has been pumped by Investors Chronicle. Their advice such as I read it sounded typically clueless and they are quite rightly regarded as being the worst tipsters around in a pretty pathetic field. I think the Market has it right on LRL. It is only worth valuing at cash because it will spend that cash chasing this unconventional gas in China and won't get to profit from it near term. Chinese are great at doing this. Get foreign capital to pay for long dated investment which isn't of itself economic. Thus GDG, FTO and LRL all working away for little reward. If it was a genuine opportunity in China the Chinese would have it to themselves.
 
Petrochina is the partner, has the option of taking upto 40% stake. They are drilling it as well. Its a chinese company in all but name.
 
Yes the option. As I said before their are energy security reasons why they might want to encourage investment which is not of itself economic. Petrochina goals as a large state enterprise is to supply energy needs and they will not worry about the economics so much.

There is plenty of entrepreneurs in China and no shortage of capital. I don't see LRL bring anything to the party in technology terms. To the Chinese it is Western money funding their energy security. I've looked at likes of GDG,FTO and LRL off and on for years but just come to this realisation myself. Of course on the face of it they will try to make it out as a great opportunity. That is what promoters and Management do. The idiots are those like Investors Chronicle writers who fall for it.

The same applies to those who pursue such projects in UK and US mind.
IGAS started as a unconventional play on CBM. They have subsequently moved on quietly to conventional. I think they got it... or rather their investors realised the economics don't stack up and forced them to change tack.
 
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GCM the Bangladeshi newspapers are coming out with some pretty positive stuff. Looks like some progress is being made on the ground.
 
The timescales are always a moveable feast. This seems the most direct Government approval of the project for years. There is talk of a two year study timetable but all the studies were done by independent experts at best should only require updating 3-6 months? 2 years only seems relevant to make out a decision will not be made in present parliament so getting Government off the hook if there is protest. I'd like to see Bangladesh or some Gulf SWF becoming involved and they may be more likely to do so now. This public acceptance could unlock and accelerate the project. Selling overhang should disappear next week so expecting a decent move.
 
GCM chart looks 'poised', is only really down here because of a seller causing overhang will need serious volume to get through 50 day and 200 day MA but overhang clearing and good fundamental news may be enough to get above 50 day and maybe challenge 200 day.

big.chart
 
SOLO

jewellsrimet
10 Nov'12 - 16: 42 - 23182 of 23183


C3 has made me a tad nervous so I decided to read some of the recent rns's...

Production is 'now being RAPIDLY scaled up as gas cycling rates are increased'.

'Reef anticipate increasing the gas cycle rate about 20-fold to 5,000 mcfd progressively over the next 4 to 6 months and project that liquids production from the four well scheme will then rise to approximately 700 boepd (gross)'.

'As additional wells are hooked up to the new facilities and gas recycling rates are increased we remain confident that our previous estimate of a gross 500 boepd remains achievable by end 2012'.

'We are confident of finding a funding partner for the Ruvuma PSA and our need for funding of this type is deemed no longer necessary'.

'REEF RESOURCES ANNOUNCES 85% INCREASE IN P2 RESERVES,
98% INCREASE IN NPV (BTAX10) AND 7.8 MILLION BARRELS OF PETROLEUM INITIALLY IN PLACE'.

Sounds good to me!

GLA







Cammy3
10 Nov'12 - 18:12 - 23183 of 23183


AEX interim management statement this week. Could be a general update on level of interest on the farm out
 
Shale Gas stuff looks about to kick off in UK I think.

Main plays I know of are Cuadrilla (private), igas (IGAS), Europa (EOG), Egdon (EDR)

IGAS claim to have about 9 tcf. In June they appointed Greenhill Investment Bank to find world class partners for their shale assets expected to take 4-5months

EDR claim to have 1-2 tcf

EOG partner with EDR on some licences so should also have 1-2 tcf?

IGAS valued at about 130m ; EDR 9m ; EOG 15m
 
After initial breakout it has retraced. any ideas as to fundamental value potential ?

s28 said:
AST - risen right into the resistance of it's downtrend and the 50 day MA. If it gets above and consolidates then it might be worth a go as MACD looks like it has turned.

big.chart
Click to expand...
 
Let's hope Leone have finished selling. Could create double whammy. £60/share NPV I reckon.
 
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