This space is reserved for davjo to introduce himself.
Re the OML-30 acquisition, prospectus published today...downloadable here together with presentation :- http://www.heritageoilplc.com/news/pressRelease12.cfm Shoreline Natural Resources(Shoreline), partnership between Heritage and Shoreline Power, indigenous Nigerian company, pay $850m for 2P 347mmbbls. What intrigued me was HOIL apparently stumping up all the cash for a 45%:55% JV. However, the deal is structured initially with HOIL benefitting from 97.5% of profits with SP having an option (expiring 6…
Picking up on Repo’s interest reported on Stockopedia and elsewhere :-Website : http://www.sacoilholdings.com/Sep 2011 Presentation : http://www.sacoilholdings.com/im/files/p/SacOil%20Presentation-LONDON-Outside_6sep11.pdfAs Repo notes, SAC came to AIM last April at 20p/sh, now 4.25pShares out 680m + 112m recently issued to Timtex = M/cap £33mDebt : NilCash : £11mUSD25m Standby Equity Distribution Agreement over 3 yearsAssets :-DRC : 12.5% Block 3 - having farmed out 60% to Total for free…
H1 2011Oil : 109 bopdGas : 167 boepdTotal : 276 boepdOil produced from :-Somerset : 43 bopdShoats Creek : 34 bopdAlta Loma : 32 bopdGas produced from :-Alta Loma : 120 boepdS.Weslaco : 33 boepdShoats Creek : 14 boepdOil sold at $98/bbl and gas at $4.86 mcfRevenues $2.84mWhat about the future ?The recompletion of Alta Loma(Sunny Ernie) in April resulted in restricted flows net to…
Interesting article in the Petroleum Economist today relating to HOIL's so far unsuccessful efforts lobbying the UK government to get a foothold in Libya.......via the dubious means of a security contract! http://www.petroleum-economist.com/Article/2905891/EXCLUSIVE-UK-firm-lobbies-Hague-over-Libya-security-deal.html?LS=EMS573109 I wonder if Soco are considering whether to exhume ODEX?
Since SMDR haven’t had much of a bounce off the recent lows, I thought they might be worth a look. First, the basics :-2Ps at Jan 1 2011 - 66mmboe Additions in Q1/Q2 (Bualuang) - 15mmbbls = 81mmboe Less 2011 production 8mmboe = 73mmboeLess asset sale (Java/Sumatra) 13mmboe = 60mmboe 63:37 oil:gasPro forma net debt at mid year (after accounting for asset sale* of $56m)…
ETPoint taken re H5 .....but if it's not drilled until H1 2013 - and then needs 6 months of flow testing to make potential buyers feel comfortable re field characteristics - we could be looking at the latter part of 2013 for any monetisation re Soco VN ?I don't see it that way at all. It looks to me as if H5 will be drilled…
I remember Jseth saying at the agm (and I hope I'm not mis quoting), that he didn't want H5 to become the new TGD,No chance! H5 is effectively a one shot TGT extension play.
Seems like the sort of loose ends you might want to tie up if a material change is in the offing.Yes indeed! .....such as the long mooted "structural" board change, which may result post SV sale, for example ES stepping down with RC becoming CEO and CC CFO???? Not sure if that would be frowned upon though!
davjo and others will remember those exchanges very wellAh, those were the days....not half as entertaining as the earlier exchanges with PYAD who remained steadfastly opposed to Soco as an investment though ;-)
Seems like Apple is struggling to keep up with demand. Clearly the demand is off the scale of even their own projections.Either that or the latest consignment aboard the MS Apple has sunk in the South China Sea ;-)
