Member Info for easyp

They are in a neighbouring block in west shetland and mentioned half a billion barrels of oil.....

"Hurricane said in a statement that the deal, which sees Spirit take joint ownership of its Lincoln and Warwick licenses , “opens up a significant new work programme across [its] assets”. Spirit has committed to paying up to $387m in carry.

The companies said they envisage first oil on the Greater Warwick Area development, which comprises both sites, by 2020 and a final investment decision on the first phase of a full field development by 2021, which they said is intended to unlock initial reserves of half a billion barrels gross from current resources.

The west of Shetland region of the North Sea has attracted growing interest in recent years as a relatively frontier development, with less discoveries made in the main UK portion of the basin to north east of Aberdeen.

Spirit Energy was founded late last year as a spin out of Centrica’s European oil and gas exploration and production arm and Denmark’s Bayerngas Norge. Centrica retains a 69% stake in the company."

Standard Life own just under 10% and the family still own a chunk? 888 is out of fashion but the financial fundementals not bad including no debt. I sold some to put elsewhere but intend to hold on an expectation of fresh news from the USA.

Hope is a dangerous emotion when investing money. We need hard facts and progress on whats left in their pharma portfolio.

http://www.parkmeadgroup.com/operations/our_assets/

Not sure how close the Spirit block is to the Parkmead assets.

Interesting snippet on oil explo West of Shetlands

http://www.lse.co.uk/FinanceNews.asp?code=6newzk2n&headline=Spirit_Energy_to_invest_180_mln_in_wells_off_Shetland

"At the annual meeting of the World Nuclear Association this week in London, the mood will be mixed at best.

There is some good news. Although the pace of development has slowed, the Chinese nuclear construction programme continues. Of the 53 nuclear new reactors under construction in 2017 globally, 20 were in China. Beijing’s commitment to building an industry with international reach is as strong as ever.

In Japan, the sector has survived the Fukushima disaster and much public hostility, and the slow programme of bringing back on stream the stations closed in 2011 continues.

The other good news for the industry comes from France, where persistent pressure from the powerful nuclear lobby has forced the resignation of energy and environment minister Nicolas Hulot, a longstanding sceptic. France is a key test case for the sector as its existing fleet of reactors comes to the end of its life and requires replacement.

But, against this, there are too many negatives for comfort.

Nuclear’s share of global electricity production has fallen from 16.5 per cent 20 years ago to barely 10 per cent today."

Have to agree with your point. We kid ourselves that we are investing not betting but for small investors Oil and AIM should be viewed as a long term bet. As it happens I think PMG is a reasonable bet.

http://www.socialfunds.com/news/print.cgi?sfArticleId=195

18 years ago Greenpeace purchased shares in Shell on the Amsterdam Exchange in order to lobby the company to build solar panels. Activists will look at all sorts of methods to pursue their agenda including investing in a target company. BKY might see something similar in Madrid.

Thanks, look forward to more posts.

FT today.

"Britain’s independent oil and gas sector was hit hard by the collapse in the price of crude as companies battened down the hatches. Industry executives focused on keeping costs under control and managing hefty debt piles. Many generalist fund managers sold out of the sector.

A clutch of upbeat interim results statements over the past few weeks, however, are evidence of a more optimistic mood in the sector amid a wider recovery in the oil price.

Several of the FTSE 250 independent producers and explorers, including Tullow Oil and Premier Oil, cheered investors with strong free cash flow, falling debt and higher production numbers. Premier Oil in August also held out the prospect of higher peak output from Catcher, its flagship North Sea field.

Both pleased and ****ed off by this news. I purchased after the drop and bought some more last week because I felt the sp under valued the company.

Yet while someone was building a $100 million position the sp went no where for weeks? This is the kind of market maker shiftyness that bothers me. No clue in the sp, no RNS to alert the little people, the small investors? For those who are nursing losses from the drop knowledge that someone was building a stake would have encouraged them to average down and so on and so on....

Morning, lots of small sells but from whom? What price will this drop to before being taken private on the cheap?

Going private just before all that money from the sale of the jack up business arrives?

Thanks, suspect you are correct re Exxon but as you say further down the foodchain maybe.

Thanks, a wider question have board members been buying at these prices? Broker reiterating a buy and targetting 1010p good news could see us there by year end.

Basically Exxon needs to find some more oil production quickly.....Colombia might fit the bill but it requires AMER to find the oil, extract and transport it.

"A rebound in crude prices helped the world’s energy supermajors generate higher profits in the second quarter but ultimately it was how much oil and gas they produced that differentiated their fortunes.

For ExxonMobil, which was widely seen as having the worst performance of all the majors, higher prices were offset by a 7 per cent drop in combined oil and gas production in the quarter from the same period last year.

Paul Sankey, an analyst from Mizuho in New York, described Exxon’s results as “shocking” and said the production number underlined the need for the world’s biggest energy producer to fast-track projects."

At the risk of sounding ungrateful a measly 3% up on the basis of very good news seems underwhelming. What have I missed?

I think you are one of a number of organised eco activists determined to try and stop the mine and part of your strategy is to spread fake news on sites like this to scare off small investors.

Your anti nuclear rhetoric is not only wrong, the world needs to stop burning oil, coal and gas, but you are cheating Spaniards out of the chance to earn a good living by working in the mine.

It has been discussed.

Hi from a technical perspective is the 50 day moving average versus the 200 day a positive picture? I am not versed in the art of charting but interested.

Put simply because we all have to manage our own investments and I do not know you well enough if at all to follow your advice. Taking profits is easy, stop lossing psychologically much harder! The real issue for me now is whether to stop loss?