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Some of the valuations for what we might sell for seem a little on the low side. I realise when we sold to Lukoil oil was top dollar but KH had to do a deal as we had no money left so was bargaining from a weak position. Could anyone correct me on the following maths as I know I've taken a few guesses. If gas is worth $5 per thousand cubic feet, then three trillion cubic feet is worth 15 billion dollars. Our 25% share should be worth $3.75 billion. If we find 3 x the oil, then 3 x 95 million is 285 million barrels at say $70 a barrel. That is say $20 billion and our share would be $5 billion. So $8.75 billion ÷ 326 million shares = $26.84 per share. Even if it took 50% to get out of ground, it is still $13.42 per share? I realise we will get nothing like that but surely we should get more that 90 odd pence? Please feel free to correct me. I realise this is probably hugely flawed. I also cannot believe COC would risk the amount of money they have put in to triple their investment.
looks like it
Hmmm - P&D
she's is creeping up, generally more in the 38s than not now. Very very slow though. Volume needs to increase. But at least not a p&d like rkh :-), actually was it a p&d Idont know. There was genuine volume and it seemed to be in the expectation that pmo would announce funding today, which it didn't
Only just! There always seems to be a concerted effort at the last knockings to bring down SP under 38p. Having achieved it this time plus bid ending over 38p mark too it will be interesting to see if can hold or advance tomorrow. GLA
looking like she is going to stay in the 38s at least. Great to see
New Age, the field operator, has rented a drilling platform from the US company Vantage Drilling International. The Topaz-Driller, rented for 150 days, is in Cameroonian waters since the end of last week � The British company Bowleven, which holds a 25% stake in the Etinde gas field - located off Cameroon, in the sedimentary basin of the Rio del Rey - announced, on May 11, the arrival of the Topaz-Driller in the waters Cameroonian. It was acquired for a period of 150 days. After Cameroon, it will be sent to Gabon, for use by Total-Gabon. The Topaz-Driller is a drilling rig rented to the British New Age, operator of the field with 37.5% of the shares, by the American company Vantage Drilling International, according to a document published by Bowleven in early February. The companies involved in this gas field (the Russian Lukoil and the British Bowleven and New Age) intend to drill two wells this second quarter. The two well locations (IM-6 and IM-7) agreed between these companies target resources of approximately 1 to 2 trillion cubic feet of gas (equivalent to 28.3 billion to 56.6 billion cubic meters of gas). gas). IM-6, the first well, "should begin at the end of May," according to Bowleven, who is waiting for the results of the two wells to proceed with the appointment of its president. According to New Age data, the Etinde field (formerly known as Block 7) has been "extensively" explored. Since 1967, 13 wells drilled out of 15 have revealed the presence of hydrocarbons. In this field containing "high quality sands," New Age and its partners hope to extend discoveries and achieve "world-class production assets" to export gas, oil and condensates. If the results are up to expectations, it is also planned to install a floating liquefaction project for natural gas (FLNG project) in this field. Share the post "Cameroon: the start of drilling operations for the IM-6 and IM-7 wells of Etinde gas field planned for May 2018"
Looks like we may see the 40's
Looking for 35ish to get more on a run for high 40's either on drill rumours or good results.
never say never though, there is still not great volume here , so could easily slip back as it is not pushing forward
point well made
it wasn't getting past 38 for the last 10 days
was that a resistance point??
Bid finally through 38
Cheers, here's hoping
I was saying if the reserves prove up.. based on a valuation of the share price it should be around 95p
that paragraph doesnt make much sense you saying 95 p for an end point ??
If the drill produces what they all believe is there,, Technical teams at Lukoil and New age know their business. would generate double our reserves.. that would equate to around 95p per share based on where we did the farm out.. and taking into all accounts..
a chunky buy
Surely, with 457m shares in issue, today's volume works out at about 3% I admit it is a lot better than has been seen for some time but I would expect high volume to be around 30-40 m. Argos Petroleum has also joined the party up 56% with 3 price monitoring extensions so there might just be something happening.
slip, the rise on RKH has been on volume for a few days now. And I think there is some rumour behind it too.
There will be plenty of opportunities to get into RKH it is rising on no news and has been the victim of many P&D in the past, unlike BLVN where the drill is about to spin in the not too distant future.
Plenty of activity out on Etinde 3 offshore vessel around the rig.
Feel like we are getting left behind again...Algo's capping price..