Sound Energy #SOU provides an update on a potential farm-in and operational progress in Morocco Watch Now
I don't know if you all know this site or not, but I find it a rather useful tool for a quick check of any share that I am looking at.
Have a look at this, it seems to like TXP.
You will spend hours checking your shares!
Have fun, I am out and about tomorrow so radio silence, look after the shop please.
I love the world to know as well.
Russell I never make promises but things are moving in the right direction, imho.
Target price is 50 pence, hopefully within a year.
If we continue to get on the risers board, people take notice.
Very low volume share so if the herd arrives we will do well.
Perhaps I was a little understated in my comments earlier about the potential SPT tax reforms.
Election result is 12th August, then it will take 6 to 12 months to get the reforms through, with a bit of encouragement from the big producers.
We are planning, I think to drill Cascadura Deep after we have hit the gas at Chinook, so by the time the rig gets back there it will be the end of September.
It will be a protracted drill, probably 40 days or more to get down to the basement, and then I am dreaming that we will find something that can produce 5,000 barrels per day, and probably a load of gas too.
So this should be proved up by mid January and a good few months to get the pipeline in, and oil back up to $50.
Producing in about a year's time then, so the timeline for SPT reform is about right.
Paul will need to schmooze the new Prime Minister as soon as he is elected.
In the meantime, to avoid the wait for these big gains I have had a little dabble in JKX which is gas orientated and due repayments of £30m from Government which is the mcap. Already sitting on a big cash pile and rising.
A very good friend was encouraging me to buy last week, but I was engaged elsewhere.
Happy to get in now though at 21.5 pence with a modest 50,000 at 10.00.04 trade.
I can see the future here and even diverted funds that were going to go into TXP but I am very heavyweight there so no harm in a bit of diversification. A bit effed off that I sold out of REDX at 34 pence a couple of months ago but hey ho it's all about timing and I think that I may have got this one right.
SIPP up 600% YTD so something is going okay overall.
Good to join you for a fun ride, I can see 30 pence in a fortnight if the market catches on.
Okay, so gas prices and gas futures have been rather suppressed over recent months.
Today, they took a quantum leap of over 10%.
Why, you may ask?
Counter-intuitively, it's because of the prospect of hot weather.
Yep, the Americans are going to be cranking their'Air-con' up, which will massively increase the demand for electricity and percentage-wise, natural gas is increasing. Yes, some of the base load is provided by wind and solar, but the peaks have to be supplemented by the gas turbines.
It all helps us to boost our negotiations with NGC, but it also augurs well for the future.
Maybe the market will catch on soon?
I wasn't expecting very much last week, and I wasn't disappointed.
What seems to be evident is that North Energy does not appear have to have sold, but a couple of our fellow posters took their chance to take some off the table, which may, or may not prove to be the right thing, the Chinook result will determine this, and I for one, am pretty sure that in the light of Shell's previous discovery, the result will turn out to be a very positive one.
What last week also tells me is that North appears to have raised its sell price threshold, probably to 80 pence. although It is also possible that they have raised sufficient funds to cover the costs of their internal merger and are no longer selling.
Either way, upon the assumption that the Chinook drill is under way, our SP should move into the 75 to 80 pence range this week, and we may get a few more investors from the IC share tip, we shall see.
The potential for the share price upon hitting gas is around the pound mark, and then in three months upon independent verification of the reserves, probably unbounded once again, I can see a further 25 to 50 pence onto the price.
I think that the NGC agreement will take a fair while to finalise, although it would be good to nail this one down so that the infrastructure can get moving. I am sure that we are already designing the pipes to take a big find from Chinook and that alternative funding plans are also being made.
Overall, I think it will be a good week, but not as good as Rockfire which is about to go mental, imho.
Tonsofgold yes it looks great on paper doesn't it?
Then you look at the Egypt Economy page of wiki and realise that Hosni Mubarak was running it until he died and now there is a political void, the biggest refugee camp in the world. 8 million unemployed youth, and little or no chance of getting oil, gas or cash out of the country.
The other thing is that it is not safe for Europeans to visit.
Egypt not very popular for selling oil and gas to Israel.
All in all I will pass, thank you.
The rest of the market agrees, less than £100k of shares traded this year.
Apart from that it looks like a great investment until the army takes over all the assets.
It would appear that I am the first ever buyer of North Energy ASA on the London Stock Exchange.
Only a small trade to get it onto my purchase list, but you have to start somewhere.
David, Thanks for the introduction to Stockhouse.
I have joined as DanaWinnerTXP and will bore them with updates as well, it makes sense to keep investors on the other side of the pond up to date as well.
I have decided that it is time to go over to Trinidad to see it for myself, probably at the end of August/beginning of September in the hope of getting a photo of a gas flare.
I noticed that Anna Kendrick has a spare ticket for the long way round, so have offered to pay for the upgrade to Business Class if she wants to go with me. I only poted the invitation on Youtube a few minutes ago so she hasn't come back to me yet. I will let you know what she says.
David, Thanks for introducing me to the Canadian Stockhouse board.
Like you, I shall try to keep them updated on what we find over here, let's boost the SP over there too.
I am DanaWinnerTXP.
About time that we had the spud announcement.
I find it hard to understand that starting a drill that could double the value of the company is not significant, if I were the Nomad I would insist upon it as it can undoubtedly affect the share price.
Maybe that's why I am not a Nomad then?