Why is this stock so cheap? : with share price of today : return on investment 2013 : 16 % , expected return 2014 : 38 %. This share price should be much higher, not?.
2 Dec '13
TSX close - 154p
Volume not exceptional but a 9p differential should see us have a bright start to Tuesday's session. GLA
2 Dec '13
The map you refer to on Page 10 of the latest presentation is for indicative rather than definitive purposes and the the detail is not to any scale so the appearance of A2 being shorter than A1 cannot be taken as fact. The contour ring lines are included to give an indication of the shape of the reservoir tor and the drill directions/lengths have been added to show that the 3 oil wells will terminate at roughly the same TVD which is indicated by each of them being on the same 'thicker' red contour line. In the case of drill #4 (gas well at NDC) the drilling time should certainly be quicker than the oil drills as there is no horizontal extension element involved and it targets the cap of the reservoir so the completion point will also be at a shallower TVD to that of the oil wells. On balance we should take the company's estimation of 80-90 days duration for each drill as a decent average guide. A1 took 85 days so they were spot on there but that will not always be the case as they cannot anticipate en route issues and variables such as weather. We should be mindful that A2 and A3 are being conducted during the seasons of weather extremes in the north sea so we're bound to experience operation suspensions, albeit for relatively short periods. A2 may already have had such weather extremes during mid November as indicated by very little north sea rig movement during that period. I've just had a quick read on Stockhouse and see that some are counting the days from notification of the A1 well test result as being the start of A2?!?? Although A2 didn't require a rig move the A1 well still had to undergo suspension followed by a drilling platform skid to a pre-defined position so that A2 could undergo set-up and spudding, all of which could not be achieved by merely working through a lunch break. Fingers crossed for no ops problems and we get news of a good A2 test result prior to christmas which will see us all in a happy mood over the holiday, during which time (with all going to plan) the Ensco 100 should have been moved the short distance (just 4km) to the NDC site and started our penultimate drill for Phase 1 Stella........weather permitting! ATB
24 Nov '13
A2 Horizontal Drilling section...
Anyone know if the A2 horizontal section is SHORTER than A1??? Appears to be on IAE presentation. Could just be the graphic. Shorter drill length, shorter drill time . . .sooner we see the GUSH! Best GOLONG
23 Nov '13
First Oil Takeover thought...
IF IAE makes it to FIRST OIL on STELLA . . GOLONG calls for STATOIL in the Takeover. Statoil says as their Norway fields deplete, they will look to more International production. Can your say STELLA!!! They are a REAL BIG FISH and we have someone on our BOD that may know a thing or two. Appreciate all opinions as to this spec. Best GOLONG
21 Nov '13
Having taken shelter for about 12 hours off the Shetlands at Lerwick over Tuesday night the GSF Arctic III rig has just arrived at Fionn. Once anchors are set the rig will commence ops. It's unlikely the company will issue a specific RNS for this sidetrack as it is a routine operation to improve the flow rate of an already producing well, however it should get a mention as part of any other news issued before year-end. e.g. Handcross drill or A2 result. GLA GOLONG - d) for me. I expect Ithaca to see the Stella project elements come together and the field producing before entertaining suitors. Any interested parties would perhaps like to see Ithaca shoulder that risk too. If T/O did occur at that point then the new owners can enjoy the benefits of another producing field while they decide for themselves how/whether/when they incorporate the development of Harrier/Hurricane (and maybe Helios) into the 'Greater Stella' project. ATB
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