The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
In my view Colter is worth a lot of money but it is more complex than previously thought. The new licenses make a difference: part of Colter South was not in the earlier licenses.
The issue is how to monetise all of the assets in the licenses efficiently. They will be arguing backwards and forwards about what to do, in what order and how to execute.
This is the best demonstration of value at Colter and the Wessex Basin licenses: money on the table...
https://www.londonstockexchange.com/exchange/news/market-news/market-news-detail/RBD/14169508.html
Corallian increases its interest in licences in the Wessex Basin, including Colter South
A portion of the net proceeds from the Round 6 Fundraise have been utilised by Corallian to acquire Corfe Energy Limited's ("Corfe") interests in licences in which they were a JV partner with Corallian. Such interests comprise four licences in the Wessex Basin, which includes the licence containing Colter South, and the Inner Moray Firth, including three new licences offered in these areas in the 31st Licensing Round. The Pmean Prospective Resources attributable to Corfe's interests are 10 mmboe* in the Inner Moray Firth and 6 mmboe* in the Wessex Basin. Following this transaction, which completed this week, Corallian's interest in the Wessex Basin JV licences increases to 74 per cent. and in the Inner Moray Firth JV licences to 45 per cent.
So it looks like Corallian calls all the shots in the Wessex Basin. Until they make an announcement nobody else can say much. My understanding was that Corallian picking up Corfe's position in the Wessex Basin licenses did not go down well with the other partners.
Sometimes the dominant partner/operator in these JVs uses their positions to manipulate the JVs affairs to their advantage. If Corallian has gone to 74%, it would make sense that it would like to go to 100%.
DYOR
Yes and many thanks. I also feel that Indonesia will be worth the watch as it was there that SG was looking to do something but if I remember was put off by the need to provide up front funding. The more recent move into the country may be a small but pivotal entry for ADL
Colter did not go to plan, yes we got 15m barrels but in the south and not where we expected it so that put the kybosh on quick monetisation and made everyone look again at what the true picture is and to do that more drills and proving up, it's not bad news especially with the extra acreage awarded in the 31st round as they will, in my opinion, eventually increase the volume of oil found. Even if they stated work now, which they are not, it's not a 5 min job and so it's a bit of a back burner for me if I am being realistic.
As for Eagle it just smacks of the old style that was ADL, all puff and no substance, we may have put money in but I don't expect anything and would love to be wrong but happy to go forward with Indonesia and move away in a totally different direction from the past which needs burying for good.
Indonesia small at present but a new direction and hopefully a fresh start.
Thanks m444. But why so long for Colter? With so many interested parties you would think that they would be spending time on the project and updating all. As for Eagle why did we top up.
Hi ismalia, I think Colter is a long way away and will need proving up and more cash spent on it, we do have £1.5m ish set aside from the CLN but do not expect anything until Xmas 2020 imo and believe we will cash it in at a discount as soon as is possible but still do ok from it returns wise.
As for Eagle I have written it off completely as nothing concrete and just twitter chat.
Indonesia is the only certainty at the moment and hopefully results soon, important not to rush and get maximum stable figures released to market. Simon does seem to think we can achieve 150 bopd and possibly more from the last RNS. The big one is getting further deals with CAV and a participating interest, could be a game changer in that it underpins ADL's future.
At this moment in time I will gladly settle for that and a slow and gradual sp rise on the back of news flow and further deals getting us eventually back to 0.09p which we achieved and more on hot air and anticipation.
We will have these by the end of the month. Currently Indonesia is in the frame with Colter being assessed. Who knows anything about Eagle Gas?
Just need an update on the water injection pump, whether its actually been commissioned and now working at BTN-03, do not expect finalised stable flow rates for all 4 work overs for a few weeks but an update on the above would be good.
Another £1k buy today, someone taking a moderate punt here, possibly same person who took £2k yesterday.
Can anyone explain how / why you would execute a 1p sell with broker charges ranging £8 - £12 a trade?
2 decent buys yesterday for £2k (total).
Thanks Helpful for posting that, just shows how much work goes in to one hole. Also good to see updates of detail from the company keeping us informed in method and direction. Hopefully an update soon on the commissioning of the water injection pump being put in to action.
News flow not far away on final production figures followed hopefully by more news flow on other work / deals with CAV as a result.
Very much doubt anything will go to NUOG.
C4 only have 29.9 percent max holding.
Also how can nuog become a cash shell with assets still to dispose of.
Look at the dilution that's coming from .005p have to be mad to punt that . Billions of new shares to shift.
Good
Anyone remember the BMD talk of Cuban assets coming here a long while back? Guessing they aren't now - they look to be heading to NUOG. Refer to Chris oils tweets
Where did they buy the holding from? Nothing like that traded the last month.
Just a waiting game really as to what the final volume of production figures will be, I guess once the flow rates come out then the next news will be whether or not CAV involve ADL in other work and also if we take up the participating interest.
I think that at this point all that needs to be said has been, several times over.
Obviously its a good sign when investment companies come on board but the fact is they will want to make a quick profit for their customers and move on so the bread and butter for ADL will be continuous projects being added to the Indo portfolio which in the mid to long term will ride any peaks and troughs that happen in the short term.
there is no chat today following yesterdays investment.
Asian investor on board, getting interesting.
Hi Mike,
Yes it's good news them buying in, an Indonesian connection would be great but I think that will happen in time.
Good Luck All Shareholders
Bet those sellers of 24p, £2.74 and £3.36 are gutted :¬)
Hi Greg, another vote of confidence, if its the correct company their Head Quarters are in Singapore and are registered in British Virgin Islands. Will do a bit of digging to see how they are placed etc.
atb
Cape Light Investments Limited 6.36%
Exciting Times Ahead Here
3 of the last 4 trades are sells of 24 pence, £2.74 & £3.36. Someone believing that sheer volume number of trades irrespective of monetary value will drive the sp down. Can't imagine who could be doing this, although perhaps thy need the money :¬).
That said they must have a bloody good broker dealing fees wise :¬)
Just wondering how long it will take to commission the water injection pump whether it's days or weeks, quite possibly an RNS update to state when it is operational / full systems go before one last RNS for final stabilised flow rates from all 4 work overs.
Right now I would settle for reaching target of 150 bopd, anything above would be a credit to the company and send a very positive message to CAV that we are 'open for business'.
atb
Hi Shareinvestment,
I totally agree, looking forward to seeing if they can convert the running fuel for the wells into gas too. CAV would be more than impressed with that.
Exciting Times Ahead Here
Good Luck All Shareholders