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News just in from OIL PRICE.COM Freeport get approval
News just in from OIL PRICE.COM Freeport get approval
https://twitter.com/SouthernEnergyC/status/1618269587233013761/photo/1
#14-06 is going well.
#41 Rapad rig is likely to be retained all of 2023.
SP retrace is annoying
. . . but Vasbyt.
Looks like it very tightly tracks gas prices.. hopefully we see a rise soon on the gas price front
Gas is dropping every day like I said before I sold in the 60s and got into oil only seemed a better bet what do you say viable
Why the sell off? Thought new production/findings announcements coming any day now?
60p will give us a 25% rise from here .. fingers crossed for good results in Feb
Just a few years ago in 2019 gas prices in Europe were 5.5 eur/MWh. Today they are 57 eur/MWh. Forward pricing for autumn/winter 2023 is above 60 eur/MWh.
Worth remembering this.
http://www.kereport.com/2023/01/17/southern-energy-introduction-to-a-growth-oriented-us-natural-gas-producer/
Link from ADVFN forum.
Highlights
Regular newsflow expected Feb through July. Drilling and completions.
Still getting Premium to nymex through Transco 4 location.
Sees current SP as misvalued and expects rerating this year.
Drilling going well . . . but after studying complications of PANR's North Slope frack sand setback it's easy to see that nothing should be taken for granted.
From Malcy's Blog 22nd November 2022,
"All these mean that when the wells start to come into their prime in around February there should be a number of producing sites and the company will have a pretty good idea of production for 2023. Also worth noting is that early next year the company will be drilling longer laterals of 5,500-6,500 feet which should translate into improved well performance and further cost efficiencies".
First gas from the wells currently being drilled in February is consistent with the 60 day drilling schedule in the corporate presentation on the website.
With several analysts and now Malcys Blog talking of price targets around the £2 mark, we should hopefully see the SP starting to pick up in a few weeks time.
Southern Energy has done very well this year and it was clearly coming off the bench and ready to join the BL early last year when they brought their South East US based production company to London. SOUC throws off cash and with a target to reach 25/- boe/d shows that the Gwinville can prove to be a really exceptional asset. Plans to develop the portfolio makes 2023 a truly exciting prospect and I have what seems like a monster target price of 260p a share in the book.
Reopening of Freeport is widely regarded as a negative for gas pricing as it argued it will reduce competition for LNG. Personally I think there are bigger factors at play such as the reopening of China and the impact of lower energy pricing and lower inflation on energy intensive industries. I see gas demand growing significantly. Look at the bidding war that is taking.place for Warrego ASX as big mining companies look to get into gas production.
Gas prices are still 4 or 5 times higher than recent historical prices even if they have fallen back from the ridiculous levels of a year ago.
is likely to be shut down for months according to a consultant,News from Bloomberg you can Google the headlines.
Im glad I made a few pennies and watch from the lines gas dosnt seem to be the place to be atm
https://www.proactiveinvestors.co.uk/companies/news/1001274/southern-energy-shares-excitement-around-gwinville-drilling-campaign-1001274.html
. . . forgot to add above link on 22/12.
Rapad #41 programme believed to be continuous from one site to the next over current campaign. CottonValley will follow at some point thereafter.
https://rapaddrilling.com/rig-41/
https://www.google.com/maps/place/Southern+Natural+Gas+Co/@31.7578483,-89.8757163,1268m/data=!3m1!1e3!4m13!1m7!3m6!1s0x8882b1a7e2a7c173:0x74441caf5d4c49d5!2sMt+Olive+Rd,+Mississippi,+USA!3b1!8m2!3d31.7547077!4d-89.8149445!3m4!1s0x8882a9663ee1101f:0x2c56db9488a02173!8m2!3d31.7580191!4d-89.8776862
(satellite view)
https://twitter.com/SouthernEnergyC/status/1605963373266358280?cxt=HHwWkMCinbzLw8ksAAAA
I don't know location of the site shown but forgot to mention the Sonat installation is barely 2 miles from the first pad 19-3. The tweet is probably a reference to the next 5 pads (13 wells).
NG is having a hard time right now ,ive moved over to companies which are more oil orientated such as JSE,AXL and i3e which seem to be doing well atm
SP being knocked down on ridiculously low volumes. About 12k worth of shares traded on tsx yesterday was enough to zee the SP marked Fownhope more than 2%.
News needed to stem the bleeding.
Giving an opinion on comms frequency is not going to be accurate. I understand, however, that -
a) drilling of #18-10 is going well,
b) Q1 2023 will provide the real thrust, and
c) the first CityBank lateral results are critical.
[o/t - My greater geo knowledge is in Kenya/Tanz , spending considerable time stalking SHG.]
It's a long list Viable, but a cursory examination of the data for other producing wells confirms that the recently drilled wells are easily some of the companies most productive and should remain so for several years to come. It certainly reinforces the transformational potential of the ongoing drilling campaign.
I found this paper to be a helpful document to put the decline rates of the recent drilled wells in perspective. Far from being disastrous, as some have claimed, they are actually typical of what should be expected. SOUC production would seem set to grow dramatically as the drilling campaign progresses.
https://www.eia.gov/analysis/drilling/curve_analysis/
Good to hear of the high.expectations for CityBank. Do you think the Board are likely to improve communications? The radio silence since the placement has been counterproductive in terms of the SP?
Appreciated. You are perhaps one of very few to explore the detail.
I take it you have also clicked on "company name" and "wells" to open the full list.
NB > expectations on CityBank are high.
https://ws.ogb.state.ms.us/MSOGBOnline/DataMining.html?EntityType=Well&EntityKeyName=WellID&EntityKeyValue=2306521128&DETAILSONLY=True
October's numbers now on the Mississippi OGB Web site (click production tab in link)
October data indicates a dramatic flattening of decline rates and suggedts the well appears to be behaving in a normal and predictable manner. The rapid initial decline in production (to be expected) is tailing off in a manner that does not support de-rampers (Stockhouse forum) that have been suggesting abnormal behaviour. Their remarks seem to have coincided with a period of falling SP from low blume trading. Hopefully we can begin to see a recovery in SP now.
SP getting a bit of a bashing on ridiculously low volumes today. 10,000 shares sold on tsx enough to see a 3.5% fall in early trading! Fingers crossed for a Santa's rally next week!
Welcome clips from head honchos.
Promising days ahead . . .
may have some news to add before end-December.