Member Info for easyp

So what will 40% of this be worth in 2022? Ignore the gross production figure of 100,000 bopd and assume 30,000 bopd at say $60 a barrel in 2022 CNE would be earning $720,000 a day in revenues just from this well.....

"The Development and Exploitation plan outlines the full multi-phase development of oil and gas. The field will be developed in a series of phases with plans for ~500 million barrels of oil (mmbbls) and gross production of 100,000 barrels of oil per day (bopd) with first oil targeted in 2022. Following the establishment of oil production, commercial gas sales to Senegal are expected to commence."

Thanks for sharing this news, been there done that but hopefully others will avoid making the same mistakes.

Sold a chunk of my stake this morning as the falls just keep coming and the UK budget a real threat to online gaming companies, even those based off shore.

Saw the drop this morning and stop lossed. Yes, might buy back in after the budget and on better news from the USA but there comes a point where you have to walk away even when a company looks cheap.

Tempted yet?

“Where we see opportunities for companies such as ourselves is the expansion of life of the North Sea with smaller discoveries that can be tied on to existing infrastructure,” James Henry, finance director at Zennor, told the Financial Times.

From the same article, suggests PMG on the right track imo.

But despite the positive news and all the cash coming in the POS sp is bumping along the bottom.....

"Investments in new North Sea projects have hit £3bn in 2018, the highest level since 2015, after two oil and gas projects received regulatory approval from authorities on Monday.

The UK Oil and Gas Authority gave the green light to BP and Royal Dutch Shell’s Alligin project, West of Shetland, and Zennor’s Finlaggan project in the central North Sea, allowing them to proceed to development. Both are slated to begin production in 2020, in the latest sign of a recovery in the basin.

Ross Cassidy, an analyst at Wood Mackenzie, said the twin announcements were “further positive news for the UK upstream sector”.

“These two projects involve old and new money in the UK upstream sector. BP is a longstanding investor, while Zennor Petroleum is relatively new, private-equity backed company,” he added.

The announcements come as further evidence that four years after oil prices collapsed, money is again flowing into the North Sea.

https://www.ft.com/content/4be4b18a-d60a-11e8-ab8e-6be0dcf18713

"Investments in new North Sea projects have hit £3bn in 2018, the highest level since 2015, after two oil and gas projects received regulatory approval from authorities on Monday.

The UK Oil and Gas Authority gave the green light to BP and Royal Dutch Shell’s Alligin project, West of Shetland, and Zennor’s Finlaggan project in the central North Sea, allowing them to proceed to development. Both are slated to begin production in 2020, in the latest sign of a recovery in the basin.

Ross Cassidy, an analyst at Wood Mackenzie, said the twin announcements were “further positive news for the UK upstream sector”.

“These two projects involve old and new money in the UK upstream sector. BP is a longstanding investor, while Zennor Petroleum is relatively new, private-equity backed company,” he added.

The announcements come as further evidence that four years after oil prices collapsed, money is again flowing into the North Sea."

But like almost every other oil and gas producer the sp is down again!

CNE a buy old target 285p new target 300p

See broker ratings above. In my opinion Jefferies are out of line with the other brokers and 190p does not reflect fair value....but we do not live in a fair world.

In the absence of any firm market news on the tax case and oil still well above $50 a barrel why are we down again?

CNE was trading at these prices some time ago so assume we are being shortec.

Market sentiment, I have checked for news nothing bad and FT tearsheet still quite bullish about their cash and assets.

While the market is never wrong I purchased another 1000 this morning on the basis that the sell off is overdone.

Purchased some more a few minutes ago but one has to ask when doing that what or where is the resistance or bottom price for this Colombian Teaser?

Perhaps we shall see later today but with someone still selling at a profit at these prices.....there are risks in buying the dips!

Dipped in bought a few more. Regardless of tax case the shares do not reflect the value of the oil reserves they own imo.

Interesting Mr B, did not know that, hopefully some clarification on Monday. Seeking Alpha fairly trustworthy site imo so something occured just uncertain the exact target.

https://seekingalpha.com/news/3399061-gran-tierra-oil-pipeline-colombia-damaged-bomb-blast

Worrying, this is not going to do our sp any good if the bomb marks a change of tactic from politics to violence.

"US shale oil production could fall short of its most optimistic projections because of emerging problems in the industry, the chief executive of the world’s largest oilfield services group has warned.

Paal Kibsgaard, CEO of Schlumberger, said that in addition to a shortage of pipeline capacity that was slowing growth in the Permian Basin of Texas and New Mexico, the heart of the US shale boom, there were other problems that could mean some forecasts of future output would have to be revised down.

On a call with analysts as the company reported earnings for the third quarter, Mr Kibsgaard said it was becoming more difficult to increase production as shale oilfields mature and new wells are being sunk in areas that have already been drilled."

US Shale falling short of expectations and Saudi Arabia murders a journalist and Iran is off limits so where will Trump get his Oil in years to come?

Apparently BKY bounced back by 35% on the Madrid exchange while here....

Thanks had a read through and felt PTEC a bit damned by faint praise and a fair few caveats on what might change things for the worse! On balance invested after the drop as I am a contrarian, hoped the price was more realistic an entry point, hold 888 and WMH and know a little about the gaming sector.

Cautiously optimistic by and hold.

LSE rules have much to answer for imo. Australian investors were protected by a share freeze while the Madrid exchange is volatile and at least free flowing for those of us stuck on LSE rules it was watch it drop 45% yesterday and then weakly 7% this morning!

I hold with the post below that suggested the permits will be granted after a long and protracted period and suspect those holding including me will wait a long time before they are in profit.

In 2004 when I worked for a Big Airline I wrote to the then trade commissioner Peter Mandelson complaining that Alitalia was in receipt of state aid through loans and was in fact bankrupt. I received the usual EU fob off signed by Mandy and as of last week Alitalia were still flying around Europe propped up by illegal loans.

Given the above Flybe should buy Alitalia for One Euro and then it too can fly on for decades losing money as a Zombie Airline. This is one among many reasons why I voted for Brexit and sold my shares in Flybe a while ago. The markets are rigged against small investors and UK businesses.