The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.
Likely newsflow on the commercialisation of licences covering the Perth and Dolphin fields in the
Moray Firth area, which contains very large oil fields including Piper, Claymore and Tartan, is another
potential share price driver. Perth and Dolphin are two substantial Upper Jurassic Claymore
sandstone accumulations that have tested 32°-38° API oil at production rates of up to 6,000 barrels of
oil per day (bopd) per well. That’s worth noting, because Parkmead is in commercial discussions with
the Scott field partnership, led by China National Offshore Oil Corporation, to explore terms of a subsea tie-back via the Scott platform located six miles away from Parkmead’s Greater Perth Area (GPA)
oil hub. Parkmead is also holding discussions with a number of leading, international oil service
companies.
The point being that newsflow from either Verbier, the GPA project, further production gains in the
Netherlands, or an off-take agreement for Platypus, all have scope to drive Parkmead’s share price
significantly higher, and put a more realistic valuation on its 2P reserves of 46m barrels of oil
equivalent (boe), and 2C reserves of 100.9m boe.
This is not lost on investors, which is why Parkmead’s shares are up 55 per cent since I included
them in my 2018 Bargain Shares Portfolio. However, I believe that they could double – or even treble
in value – if the company commercialises either the Platypus or GPA project. The downside risk looks
limited given cash backs up more than half Parkmead’s market capitalisation, and the profitable Dutch
gas operations means that the company actually generates positive cash flow. Strong buy.
got to be good for VOG
Business in Cameroon) - In Q1, 2019, Cameroon recorded a 4.2% GDP growth, the national institute for statistics reveals.
In the supply side, the institute indicates, the tertiary sector contributed 1.8 percentage points against 1.5 and 0.4 points respectively for the secondary and primary sectors.
In the primary sector, the agriculture segment contributed 0.2% to growth while forestry contributed 0.1%. Breeding, hunting and fishing contributed 0.1%.
In the secondary sector, every segment contributed to growth. With a 14.3% year to year growth, extractive industries recorded stellar performance with an important production of natural gas. The construction sector contributed 0.3%.
Agroindustries grew 3.3% year to year contributing 0.2% while manufacturing industries contributed 0.2%.
The modest contribution of manufacturing industries was mainly due to the textile industry that recorded a negative 14.2% year to year growth.
With its 1.8% contribution to GDP growth, the tertiary sector has been the growth driver during the period under review, the national institute for statistics explains. All segments contributed to its growth except public administration, health and education that contributed -0.7% to GDP.
pagee 54 -58
gas production in netherlands increasing this year by around 20%
NETHERLANDS
? #2 onshore gas producer
? Large and growing inventory of drilling opportunities
? 1P / 2P Reserves: 11.8 / 22.2 mmboe
? YTD 2019 Production: 8,798 boe/d
gas production up gas prices continue at premium etc
why cat Tom and his cronies tell us this great info
https://www.vermilionenergy.com/files/Vermilion_Energy_-_Corporate_Presentation_-_Aug_2019_-_WEB.pdf
Futures markets continue to reflect a significant premium for European
natural gas versus AECO and Henry Hub
? Realized prices are influenced by a number of factors, including the
global LNG market, incremental demand from coal-to-gas switching for
power generation, winter supply risks, strong carbon market prices, and
domestic production declines
? Declining European domestic production and rising use of gas in the
power sector result in higher dependence on imported supply to balance
the European market
? In the current high carbon market, coal-to-gas switching provides support
for European gas prices at US$6.20/mmbtu (C$8.15/mmbtu), albeit
prices can trade below this price level during periods of gas oversupply
? Our European natural gas assets continue to deliver significant free cash
flow and robust project economics
35
$0
$2
$4
$6
$8
$10
$12
GAS PRICE (C$/MMBTU)
2010 2011 2012 2013 2014 2015 2016 2017 2018 2019E 2020E 2021E
NBP (UK) TTF (Netherlands)
AECO (Canada) Henry Hub (US)
Dominion South (Marcellus)
NATURAL GAS*
COAL
FLOOR**
TTF (Netherlands) NBP (UK)
EUROPEAN NATURAL GAS EXPECTED TO MAINTAIN SIGNIFICANT PRICE PREMIUM VERSUS NORTH AMERICAN INDICES
* 2010 - 2018: Actual prices. 2019E - 2021E Forwards as at July 23, 2019. ** Coal Floor represents the mid-point of NW European switching economics (ie. switching takes place
above and below this point).
2
£2.50 is good for me
good possibility they will have a take over offer by the end of the week
The Platypus gas field is located in 45m of water in blocks 48/1a and 47/5b of the production license P1242 offshore Southern North Sea, UK.
The gas field is located adjacent to the Possum gas prospect, 18km north-northwest of the West Sole gas field and 15km west-southwest of the Babbage field.
Dana Petroleum, which holds a 59% stake in the Platypus field, is also the operator of the field. The other partners in the field are Calenergy Gas (15%), Parkmead (E&P) (15%) and Zennor North Sea (11%).
The partners are currently studying the development options for the field, which are scheduled to be concluded by the third quarter of 2018. A final investment decision on the development is expected to be made by the third quarter of 2019, with first gas targeted for 2021.
Platypus gas field reserves and geology
The Platypus field is estimated to hold approximately 180 billionft3 of gas reserves.
The field reservoir is of high-quality Rotliegend age and contains sandstones of the Lower Leman formation.
Platypus gas field discovery
The Platypus field was discovered by the 48/1a-5 well drilled in April 2010, in water depths of 142ft.
The well was drilled to a total depth of 11,048ft by the Transocean GSF Labrador drilling rig and encountered 218ft of good quality gas.
The discovery well was suspended and is planned to be re-entered in the future for use as a gas production well.
Exploration and appraisal on Platypus gas field
Platypus was appraised by the 48/1a-6 well spud by the Ensco 80 jack-up drilling rig in April 2012. The well was drilled to a depth of 14,175ft after drilling a 3,100ft horizontal section within the reservoir.
The appraisal well was flow-tested and a flow rate of 27MMcf a day of gas was achieved on a 96/64in choke. The well was suspended to be used as a production well in future.
Platypus gas field development details
The detailed development studies conducted by the developers propose the use of existing infrastructure located in the Platypus area to develop the field. The approach is expected to involve a minimal platform concept, which will also reduce the development expenditure.
The proposed development is expected to involve a mobile offshore drilling unit (MODU) and a normally unmanned installation (NUI) platform and jacket. Two wells are planned to be used to extract hydrocarbons from the field.
The developers are also working towards optimising an export route for the gas produced by the field ahead of signing an off-take agreement. The produced gas is planned to be transported via a tie-back to the host platform through a 12in diameter pipeline.
Drilling infrastructure details
The Ensco 80 jackup drilling rig is 243ft long and 200ft wide, can operate in water depths of 225ft and has a
todays result implies that DCCA are able to publish their decisions as they are a public entity
they have no ides that their decision is price sensitive to the share value of the company
the news was supplied from steelwatch on ADVFN
RNS later today after Tony speaks with APEC for release of cash
boom today
mega boom tomorrow
mega boom monday after the Irish return from hols
took this from the latest presentation, when the sealion project kicks off then i would assume that more companies will want to farm into the balance of the licenses
already proved that there is a sh 1 t load of oil around the Falkland basin question is how much is there and how much is it worth
Falkland Islands
North Falkland Basin
Rockhopper working Licence phase
Licence Operator interest % Field/Discovery expiry date
PL003a Rockhopper 95.50 — 01/05/2021
PL003b Rockhopper 60.50 — 01/05/2021
PL004a Premier Oil 64.00 Isobel Deep 01/05/2021
PL004b Premier Oil 64.00 Beverley
Casper South
Zebedee 01/05/2021
PL004c Premier Oil 64.00 — 01/05/2021
PL005 Rockhopper 100.00 — 01/05/2021
PL032 Premier Oil 40.00 Casper North 01/05/2021
– Sea Lion Discovery Area Sea Lion 15/04/2020
PL033 Premier Oil 40.00 — 01/05/2021
South Falkland Basin
Rockhopper working Licence phase
Licence Operator interest % Field/Discovery expiry date
PL010–PL016 Rockhopper 100.00 — 03/12/2020
PL025–PL029 Rockhopper 100.00 — 15/12/2021
PL031 Rockhopper 100.00 — 15/12/2021
Greater Mediterranean
Egypt
Rockhopper working Licence phase
Licence Operator interest % Field/Discovery expiry date
Abu Sennan Kuwait Energy 22.00 Various 01/02/2032
to 03/07/2036
Italy
Rockhopper working Licence phase
Licence Operator interest % Field/Discovery expiry date
A.C35.AG Eni 20.00 Guendalina 25/11/2022
Serra San Bernardo (Monte Grosso)* Eni 22.89 — 13/07/2013*
Aglavizza Rockhopper 100.00 Civita 17/12/203
NAK I have sen this many times before where the share price has not moved then on news confirmation and relatively low volumes, lets face the facts that YF finance are confident of a return on investment and i am sure many others are looking into this Cameroon is one of the fastest growing markets in Africa
In the past i have seen this pattern reap rewards of multiples, i have no doubt that the next news flow will reward the current share holders with multiple returns, this could easily double and triple in a few days only the current holders will reap the real value
GDC is certainly being promoted in Cameroon as a growth business exponential sales growth coming next year
with the refinery burning down then this can only be brilliant news for the sale of gas in cameroon
https://www.businessincameroon.com/energy/0306-9173-cameroon-s-oil-refinery-burned-down-government-says-it-is-an-accident
I see this going boom in the next few months interesting flow of news now coming from not just VOG but many other companies in Cameroon YF Finance are sure they can make money from VOG with just under additional 6 million invested
https://www.businessincameroon.com/energy/0703-8919-cameroon-london-based-yf-finance-raises-shares-in-victoria-oil-and-gas
With regards to the DCCA then we must firstly look at the CNOOC case, if we match the same process then the application will be sanctioned in the next week to 10 days, there is no reason to decline the application I believe
See the link below CNOOC are drilling off near where PVR drilled last year, couple of points to note firstly the drill is expected to take 100-150 days and regardless of what they find the well will be abandoned., that’s a vast expense for long term return
Cnooc are very committed to producing oil they have production in all corners of the world the Irish government needs additional revenue to support the country going forward and reduce the reliance on Europe and UK, the gas from Barryroe is treated as green fuel and the oil will reduce the deficit
A bit of patience will be rewarded substantially with PVR, JOG have went from pennies to pounds, I can see this being the same for those who are in now then they will no doubt have a very rich and rewarding journey over the next 2 years
https://www.thecanary.co/trending/2019/05/29/chinese-state-oil-company-and-exxon-to-start-drilling-as-irish-government-betrays-its-climate-promises/
Christophor Jost at Goldman Sachs described the outcome of Rockhopper Exploration’s (LON:RKH) Sea Lion appraisal well as ‘very positive news.’ The analyst upped his 12-month target price from 640 to 684 pence a share.
“The company has stated that contingent P90 volumes will go up significantly and that as a result, confidence in commerciality will also rise significantly,” Jost said. “We concur with this assessment, estimating that 100 mn bls is sufficient to make the development comfortably commercial at US$100/bl assuming a floating production, storage and offloading (FPSO) development.”
really
perhaps as normal you haven't understood the reason behind the deal, firstly they do need the cash to survive in the short term with 40 million in the bank plus this sale
market cap around 100 million this then values sealion and the falklands licenses and the arbitration at 50 million
note they paid 50 million for med oil and gas
i suspect that they will continue to make money from the investment in shares in UOG
now what we dont know is the rational behind the decision, is it that we will now have a third party investing in the Sealion project or something more exciting
ps carrotear you are such a f @ n n 1e