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Many are attempting to shift all the blame on previous management without providing any rationale for the strange and often mysterious actions of the current management since the sacking of the two individuals in 2014 mentioned in yesterday article. And they keep trying everywhere, the perfect storm, the perfect wave, for shorters and equity grab...?? Give me strength! Keep trying...
you bet
I guess that the rigs are getting cheap at the moment...
Did you get any information worth to share please?
https://wwwapps.emnrd.state.nm.us/ocd/ocdpermitting/Data/WellDetails.aspx?api=30-025-42380
thanks
hi guys, do you have an email address to contact CAZA please?who is the investors relationship person?
from P.A at advfn: "The average price of wti for Oct, Nov and Dec was $84, $76 and $59. Using these figures I get a gain of c. $3.3m for Q4 for the swaps in place. (It would be nice if people would get their calculators out and check my figures.) For actual drilling and selling I get :- The average oil price for Q$ was $73 so very,very rough calculations based on an average of 900/1000 bod gives:- $73-$5 (differential)=$68 Break even costs( lifting,G&A,taxes)= $30 $38 X 92 X 900 = 4396000 Apollo costs $1.3m Leaves $3m free cash not sure Caza averages 900 bod in Q4 and the boost(MR and MRE) came at the very end of the quarter when oil price was low but I haven't included gas (told you it was rough) Lets reduce free cash to $2m which is closer to my gut figure. This still gives a healthy cash generation of VERY APPROXIMATELY $5.5m in Q4. At the end of Q3 they had $7m cash but it is difficult to say how much of this was allocated to the three wells being drilled at the time. There was a suggestion that they were looking for $5m additional funding when they were in London in December but if my figures are correct it looks like they are not forced to act immediately. I am fully aware that additional funding is required but if they have the cash from Q4 and MR and MRE are producing as we expect then cash is still being generated in Q1. Funding is required to do what they want to do but MAY not be as urgent as we first thought."
do you hold shares here? OPEC is clearly on war with the US shale oil...The OPEC forecast report is intentionally looking for more turmoil to negatively impact the poo...IMO
Cash,I am not suggesting that Caza is immune from the effects of the oil price but it is a serious mistake to look at the oil price and then apply this to Caza in isolation. "Oh dear what will Caza do if oil drops to $30 ?" Is a ridiculous way to look at things as a prolonged price slump MUST curb production and give rise to widespread discontent/civil unrest in oil producing countries. It isn't just hedging that makes Caza look so good when compared with other US producers it is the low cost production/barrel they can extract from MR (third well about to spud) Broadcaster (second well to spud in Feb/March and MRE (SEVEN wells available) The big players in the US talk a good game but their cap ex is being cut substantially and without US production the price of oil would be closer to $150. MF rightly pointed out that Caza being small can be quick and nimble.
Crude Oil (WTI) USD/bbl.45.84 -0.23 -0.50% Crude Oil (Brent)USD/bbl.46.22 -1.21 -2.55% Why the Brent is falling more? What are the implications of this? Could the WTI be higher than the Brent?
Besides the usual sad deramping ( you certainly wouldn't want to live next door to these people) I am slightly surprised by the continual reference to the oil price fall but not really surprised by the knock on effect on the share price. For those without a calculator I have just run over the hedging for 2015 and if oil is at $40 ($44 before differental) for the year Caza gains $6m on the swaps,gas adds about $300k extra. CASA's current debt is $43m costing $5.16m. With Gaza's break even ( including G&A but not financing) at $30 /bo if they produce 1000 bod for the year they have a cash flow of $3.65m from production plus c. $1m surplus from hedge (after paying Apollo)‰6. Further production would obviously require financing but remember the $30 figure includes G&A and the first 1000 bod covers almost all of that cost so any subsequent production would have the new finance but not the G&A cost in the break even. New production could have a break even of less than $30. Now here is the serious question. Does anyone here seriously expect that world oil production will hold up for an entire year with the oil price at c.$42 ? The North sea will be crippled , a large number of shale producers will be out of business and there will be civil unrest in many oil producing countries. On a more mundane but practical note I see that Broadcaster produced 18k in its third month and that fits the graph produced in the presentation. The big story of the new fracking technique wasn't the initial flow but the promised of a MUCH bigger flow a 12,24 and 36 months,,.. one to watch!!
http://www.worldbulletin.net/world/152663/venezuelan-president-talks-oil-prices-in-tehran-updated
here http://uk.businessinsider.com/baker-hughes-rig-count-january-9-2015-1?r=US
The number of jobs in the petroleum- and coal-products industry rose by 2,000 in December.
....Own 10% of the company already!
http://www.theguardian.com/business/2015/jan/04/oil-future-hangs-emirates-eagle-ford-shale-us