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I am lucky in that I trade in blocks of 10-15,000 shares, bought early and when you are 160% up the fees are an irritation rather than a major bleed on your profits.
well its up 11.40% on hl ,big spread and phone trades only ( £20plus trade fee )
Good results, plenty of oil, low production costs and prices up. I recently took profits, today I feel inclined to buy more!.
My thanks to all on Reddit who purchased shares here, GTE is worth more because it is sat on a lake of oil that can be extracted relatively cheaply.
Just me perhaps? At one point yesterday I was £8k in profit on a modest stake.
Still invested, took some profits recently but looking forward to this year unfolding for GTE.
Feeling vindicated, added to my modest holding some months back, now own 50,000 shares and in the last 24 hrs some cracking good news!
Still here, only in the past few days has there been any sign of a sp recovery. I think GTE will attract a bid over the next few months based on the large inventory of undeveloped well locations and an annual quoted prod fig of 18944 BOEPD.
We shall see!
Note: my post doesnt read well, should say: given we see a rise to $50 Brent / WTI.
Small loss on these guys since last week , not sure if the oil leak / theft gave some bad press, but surely now the covenants are sorted we should be seeing these guys close to the $1 mark given a rise of WTI and Brent to $50.
Still looking severely undervalued and overlooked. Am I missing something, because these lows of 0.31 look extremely attractive to top up...
Too late already bounced back 13% on the US markets.
Hi, after AMER was bought out I purchased a few GTE shares via HL and have enjoyed a great run up in price until today.
I am of the view to buy some more tomorrow as the US view is that GTE could enjoy a very good 2020.
Anyone else in the game?
Oops sorry wrong board
Can anyone tell me if I can but these in UK ? I know they are listed on TSX, but are they also listed here?
Key Highlights
Achieved a new Company milestone with record high average annual production in 2018 of 36,209 BOE per day (“BOEPD�), 15% higher than 31,426 BOEPD(1) in 2017 and 38% higher than 26,216 BOEPD(1) in 2016; on a per share basis, production in 2018 was up 17% from 2017
Increased the Company's WI Proved plus Probable ("2P") reserves to 142 million BOE (99 percent oil), before tax 2P net present value discounted at 10% ("NPV10") to $2.7 billion and before tax 2P net asset value ("NAV") to $5.96 per share(2)
Gran Tierra's existing producing assets are forecasted to generate 2P oil and gas sales of $5.2 billion and before tax free cash flow(3) of $2.5 billion and after tax free cash flow(3) of $1.9 billion over the five year time period of 2019 to 2023
Increased average production in fourth quarter 2018 to a record high of 38,156 BOEPD, 11% higher than 34,477 BOEPD in fourth quarter 2017
Demonstrated ongoing strong annual financial performance in 2018:
Net income was $103 million, or $0.26 per share basic and diluted, compared with a net loss of $32 million, or $0.08 per share basic and diluted, in 2017
Return on capital employed increased to 12% from 8% in 2017
EBITDA(4) more than doubled, increasing 106% to $377 million, compared with $183 million in 2017, net debt(2) to EBITDA was 1.0 times at December 31, 2018
Funds flow from operations(4) increased by 39% to $306 million compared with $220 million in 2017, and funds flow from operations(4) per share increased by 41% to $0.79 per share in 2018 from $0.56 per share in 2017
Oil and gas sales increased by 45% to $613 million in 2018 compared with $422 million in 2017
Operating netback(4) per BOE increased by 36% compared with 2017 to $33.51 per BOE
Additional information on 2018 expenses:
Operating Expenses: increased to $8.49 per BOE compared with $7.47 per BOE in 2017, primarily due to higher power generation and equipment rental costs required to manage the facility capacity limitations in Acordionero field as a result of rapid production growth
Workover Expenses: increased to $2.63 per BOE compared with $1.88 per BOE in 2017, primarily as a result of pump failures due to unreliable power
Gran Tierra expects combined average operating and workover expenses in 2019 to trend lower to a range of $9.00 - $10.00 per BOE as the forecasted full ramp up of gas to power facilities at the Acordionero, Costayaco and Moqueta fields has an expected positive impact on power reliability, thereby reducing pump failure rates and the resultant expenses and diesel costs
Transportation Expenses: increased by 3% to $2.21 per BOE in 2018 from $2.15 per BOE in 2017
General and Administrative ("G&A") Expenses: decreased to $2.40 per BOE in 2018 from $2.55 per BOE in 2017
CALGARY, Alberta, Feb. 27, 2019 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. ("Gran Tierra" or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE) today announced the Company's financial and operating results for the fourth quarter and year ended December 31, 2018. All dollar amounts are in United States (“U.S.�) dollars unless otherwise indicated.
Production and reserves amounts are on an average working interest before royalties ("WI") basis unless otherwise indicated. Per barrel ("bbl") of oil equivalent ("BOE") amounts are on a WI sales basis. For per BOE amounts based on net after royalty ("NAR") production, see Gran Tierra's Annual Report on Form 10-K filed February 27, 2019. Unless otherwise expressly stated, all reserves, future net revenue and ancillary information contained in this press release have been calculated in compliance with Canadian National Instrument 51-101 - Standards of Disclosure for Oil and Gas Activities ("NI 51-101") and the Canadian Oil and Gas Evaluation Handbook ("COGEH") and are based on the Company's 2018 year-end estimated reserves as evaluated by the Company's independent qualified reserve evaluator McDaniel & Associates Consultants Ltd. ("McDaniel") in a report with an effective date of December 31, 2018 (the "GTE McDaniel Reserves Report").
The foregoing description of the Agreements does not purport to be complete and is qualified in its entirety by reference to the Agreements, which are attached as Exhibit 10.1, Exhibit 10.2, Exhibit 10.3 and Exhibit 10.4 to the 8-K filed with the United States Securities and Exchange Commission on February 25, 2019 and incorporated herein by reference. It is not intended to provide any other factual information about the Purchasers, the Vendors or their respective subsidiaries and affiliates. The Agreements contain representations and warranties by each of the applicable parties to the Agreements, which were made only for purposes of the Agreements and as of specified dates. The representations, warranties and covenants in the Agreements were made solely for the benefit of the parties to the Agreements; may be subject to limitations agreed upon by the contracting parties; may be made for the purposes of allocating contractual risk between the parties to the Agreements instead of establishing these matters as facts; and may be subject to standards of materiality applicable to the contracting parties that differ from those applicable to investors. Investors should not rely on the representations, warranties and covenants or any descriptions thereof as characterizations of the actual state of facts or condition of the Purchasers, the Vendors or any of their respective subsidiaries or affiliates. Moreover, information concerning the subject matter of the representations, warranties and covenants may change after the date of the Agreements, which subsequent information may or may not be fully reflected in Gran Tierra's public disclosures.
Entry into a Material Definitive Agreement
On February 20, 2019, Gran Tierra Resources Limited ("GTRL") and Gran Tierra Energy Colombia, LLC, through its Colombian branch ("GTEC"), indirect subsidiaries of Gran Tierra Energy, Inc. ("Gran Tierra"), and Southeast Investment Corporation, an indirect partially-owned subsidiary of Gran Tierra (together with GTRL and GTEC, the "Purchasers"), entered into sale agreements (collectively, the "Agreements") with Vetra EnergÃa, S.L. ("Vetra") and Vetra Exploración y Producción Colombia S.A.S. ("Vetra E&P" and, together with Vetra, the "Vendors"), pursuant to which the Purchasers agreed to purchase from the Vendors all of the issued and outstanding shares of Vetra's wholly owned subsidiary, Vetra Southeast S.L.U. ("Vetra Southeast"), Vetra E&P's 50% working interest in the Putumayo-8 block ("PUT-8"), Vetra E&P's 100% working interest in the Llanos-5 Block ("LLA-5"), and Vetra E&P's entire interest in the Suroriente Block ("Suroriente"), in exchange for aggregate cash consideration of $104.2 million, subject to adjustments as set forth in the Agreements (each a "Transaction," and collectively, the "Transactions").
The closing of the Transactions is subject to the satisfaction or waiver of customary conditions, including compliance by each party in all material respects with certain of its covenants. The Transactions related to Vetra Southeast, Suroriente and LLA-5 are expected to close on or before March 11, 2019, following the provision of notice to the Superintendence of Industry and Commerce of the Republic of Colombia, with the Transaction related to Suroriente closing immediately following the Transactions related to Vetra Southeast. The Transaction related to PUT-8 is subject to a right of first refusal.
The Purchasers and Vendors have made customary representations and warranties in the Agreements. The Agreements also contain customary covenants and agreements, including covenants and agreements relating to the conduct of businesses during the interim period between the execution of the Agreements and consummation of the Transactions and the efforts of the parties to cause the Transactions to be completed. Subject to certain limitations on liability contained in the Agreements, the Purchasers agreed to indemnify the Vendors for breaches of representations and warranties, covenants and certain liabilities. The Agreements contains certain termination rights for both the Purchasers and the Vendors including, but not limited to, the right to terminate the Agreements (i) in the event that certain Transactions have not been consummated on or before April 20, 2019 or (ii) under certain conditions, including if there has been a failure to perform certain covenants by the other party.
CALGARY, Alberta, Feb. 21, 2019 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra”) (NYSE American:GTE) (TSX:GTE) (LSE:GTE), announces that the Company will release its 2018 fourth quarter and full year financial and operating results on Wednesday, February 27, 2019, before market open. A conference call to discuss the 2018 fourth quarter and full year results will be held at 1:00 p.m. Eastern Time (11:00 a.m. Mountain Time) the same day, Wednesday, February 27, 2019. Details of the conference call are as follows:
Date: Wednesday, February 27, 2019
Time: 1:00 p.m. Eastern Time (11:00 a.m. Mountain Time)
North America: +1-844-348-3792 (Toll-Free)
United Kingdom: +44 (0)80 0028 8438
International: +1-614-999-9309
Interested parties may also access the live webcast on the investor relations page of Gran Tierra’s website at www.grantierra.com. An archive of the webcast will be available on Gran Tierra’s website until March 6, 2019. In addition, an audio replay of the conference call will be available following the call until March 7, 2019. To access the replay, dial toll-free 1-855-859-2056 (North America), or 1-404-537-3406 (outside of Canada and USA), conference ID: 2099134.
i guess
ouchy
no trades today.
Gran Tierra Energy Inc. Achieves 140% 2P Reserves Replacement and Increases 2P Reserves to 142 MMBOE
Wed, 30th Jan 2019 12:45
CALGARY, Alberta, Jan. 30, 2019 (GLOBE NEWSWIRE) -- Gran Tierra Energy Inc. (“Gran Tierra� or the "Company") (NYSE American:GTE)(TSX:GTE)(LSE:GTE), a company focused on oil exploration and production in Colombia, today announced the Company's 2018 year-end estimated reserves as evaluated by the Company's independent qualified reserves evaluator McDaniel & Associates Consultants Ltd. (“McDaniel�) in a report with an effective date of December 31, 2018 (the “GTE McDaniel Reserves Report�) and estimated prospective resources as evaluated by McDaniel in a report with an effective date of July 31, 2018 (the "GTE McDaniel Prospective Resources Report").
All dollar amounts are in United States ("U.S.") dollars, unless otherwise indicated. Unless otherwise expressly stated, all reserves and resources values, future net revenue and ancillary information contained in this press release have been prepared by McDaniel and calculated in compliance with Canadian National Instrument 51-101 – Standards of Disclosure for Oil and Gas Activities (“NI 51-101�) and the Canadian Oil and Gas Evaluation Handbook (“COGEH�) and derived from the GTE McDaniel Reserves Report and the GTE McDaniel Prospective Resources Report, as applicable. All reserves, resources and production are on a working interest before royalties ("WI") basis unless otherwise indicated.
Highlights
Gran Tierra's existing producing assets are forecasted to generate Proved plus Probable ("2P") oil and gas sales of $5.2 billion and before tax free cash flow1 of $2.5 billion and after tax free cash flow1 of $1.9 billion over the five year time period of 2019 to 2023
Demonstrated the significant value Gran Tierra has added to and created within its portfolio:
° The acquisitions and discoveries made by the Company over the last four years are estimated to now account for 81% of total Company 2P before tax net present value discounted at 10% ("NPV10") and have grown expected 2019 production to four times the level of Gran Tierra's legacy assets
Increased average annual Colombia production for 2018 to 36,209 barrels of oil equivalent per day ("BOEPD"), up 15% from 2017
Increased 2P reserves to 142 million barrels of oil equivalent ("MMBOE"), before tax 2P NPV10 to $2.7 billion and before tax 2P net asset value ("NAV") to $5.96 per share2
Achieved 2P reserve replacement of 140% with total 2018 2P reserve additions of 19 MMBOE, with approximately 13 MMBOE of these additions attributable to the Acordionero oil field, the Company's single largest asset
Increased the 2P expected recovery factors in Acordionero to 26.5% in the Lisama A Sand (up from 23.5% a year ago) and to 35.0% in the Lisama C Sand (up from 27.5% a year ago):
° This material growth in estimated Acordionero recovery factors was a major driver of Gran Tierra's 2P reserves growth and indicative of positive drilling and production results in 2018
° Gran Tierra believes additional growth in Proved ("1P"), 2P and Proved plus Probable plus Possible ("3P") Acordionero recovery factors may be realized with planned increases in water injection
Grew the number of Company undeveloped drilling locations as follows:
° Number of 1P locations is 42, up from 34 at year-end 2017
° Number of 2P locations is 92, up from 61 at year-end 2017
° Number of 3P locations is 129, up from 83 at year-end 2017
Achieved Colombia 2P three-year average finding, development and acquisition ("FD&A") costs excluding future development costs ("FDC") of $11.51 per barrel of oil equivalent ("BOE") and 2P three-year average FD&A costs including FDC of $15.56 per BOE
Estimated reserve life indices of 10 years (2P) and 15 years (3P)
Maintained a world-class exploration portfolio represented by significant Mean Prospective Resources:
° The Company's WI Mean Unrisked Prospective Resources as at July 31, 2018 were 1,419 MMBOE, including 822 MMBOE in the Putumayo Basin A-Limestone play
° The Company's WI Mean Risked Prospective Resources as at July 31, 2018 were 361 MMBOE, with 59% or 214 MMBOE attributable to the Putumayo A-Limestone
° The A-Limestone represents a potentially substantial future conventional resource play for Gran Tierra, which the Company believes equates to 1,429 prospective drilling opportunities