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Coastal Eng ShareCast News (CEO)
ShareCast News for Coastal Eng (CEO)
| Share Price: 965.00 | Bid: 945.00 | Ask: 985.00 | Change: 0.00 (0.00%) |  | ||||||
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Coastal Energy announces offshore Malaysian deal
Fri, 6th Jul 2012 07:52
Coastal Energy has entered an agreement with the Malaysian government owned company, Petronas, for the production of petroleum from the Kapal, Banang and Meranti cluster of small fields offshore Malaysia.
Oil and gas group Coastal (with 100% equity interest) will be the operator of the so-called "KBM cluster" fields. Part of the agreement means Coastal must recruit a Malaysian company to participate in the field at a 30 - 40% equity interest.
Coastal will provide the upfront development capital and undertake the drilling while Petronas will remain the owner of the project.
Subject to its performance, Coastal will recover its capital and operating expenditures and will be paid a remuneration fee.
First oil from the Kapal field is scheduled within one year followed by production from the Banang field a year later.
BS
Oil and gas group Coastal (with 100% equity interest) will be the operator of the so-called "KBM cluster" fields. Part of the agreement means Coastal must recruit a Malaysian company to participate in the field at a 30 - 40% equity interest.
Coastal will provide the upfront development capital and undertake the drilling while Petronas will remain the owner of the project.
Subject to its performance, Coastal will recover its capital and operating expenditures and will be paid a remuneration fee.
First oil from the Kapal field is scheduled within one year followed by production from the Banang field a year later.
BS
Tuesday broker round-up UPDATE
Afren: Goldman Sachs shifts target price from 224p to 221p keeping a buy recommendation.[4 Jun '13]
Tuesday broker round-up UPDATE
Admiral Group: JP Morgan reduces target price from 1246p to 1108p downgrading to underweight.[7 May '13]
Wednesday broker round-up UPDATE
Aberdeen Asset Management: Societe Generale downgrades to hold, while its target price of 375p is not altered.[23 Jan '13]
Coastal Energy in talks with Indonesian company - UPDATE
Following media reports in Canada, Coastal Energy has given credence to reports that it is talks with Indonesia's state-owned oil company Pertamina.[7 Nov '12]
Coastal Energy finds more oil
Coastal Energy said it had discovered further resources in the northeast area of its Songkhla field in Thailand.[17 Oct '12]
Coastal Energy stumps up for second rig
Coastal Energy has contracted the Manta jackup drilling rig for its operations in the Gulf of Thailand and offshore Malaysia.[4 Oct '12]
Tuesday broker round-up
3i, AB Foods, ARM, ASOS, Bunzl, Burberry, Betfair, Cape, Chariot, Coastal, Drax, ENRC, G4S, Hilton Food, Huntsworth, IG, Morgan Sindall, Morrisons, Premier Farnell, Severn Trent, Taylor Wimpey[11 Sep '12]
Coastal Energy shares leap on 'outstanding' result
Coastal Energy Company, an oil and gas firm, has cheered its investors with news of an 'outstanding' result at the Songkhla A-10 well in Thailand.[10 Sep '12]
