Bayfield Share Discussion Threads

[marben100] 15/10/2012 10:13

Worth noting that Trinity's management are ex-Venture Production, and some of the acreage was Venture's Trinidad licences.

As a former Venture s/h, I shall be watching this with interest.

[mojomonkey] 15/10/2012 10:10

With one of the new directors being the MD of the largest drilling rig fleet in the Trinidad area we wont be needing the Rowan Gorilla iii anymore if they can get out of that contract.

Reading through the RNS properly this time and not like before when all I could think was every other share I have owned that has been suspended was shortly after worth nothing!

I think the history of the new board is remarkably similar to BEHs as in they all seem to have previously built up small expo oil and gas companys and then sold out for billions.

steff I think the shares will be much closer to IPO ipo price, with access to new funding to progress the drilling in BEHs areas, we can get back on track to massively increase our bopd very quickly and those next two that were planned to be drilled were described as very prospective, ie very likely to succeed. GLA

[stef77] 15/10/2012 09:59

Ok, forget about the drilling costs!!
it looks good!, I guess we have to wait and see at what price our shares will be valued at. it should be north of 30p at a guess

[luminoso] 15/10/2012 09:38

Here is Trinity website, FWIW.

[mojomonkey] 15/10/2012 09:37

Triples, Thank you, I think I see now, just got to sit tight them as I was going to do with BEH and wait a possibly much shorter period for the eventual sale and the payday ;-)

[mojomonkey] 15/10/2012 09:36

Luminoso, is that a typo? do you mean re-rating?

[luminoso] 15/10/2012 09:36

Effectively, it is a take over of BEH by Trinity, although described as a merger.
No details so we cannot value the effect on BEH yet. Trinity are a privately held company so no market valuation available, from which we could deduce how the deal values Bayfield. Have to wait but am quietly confident of a rerating. I did say that corporate news could come before people's buy targets were reached. Did Euclid buy, I wonder.

[triples] 15/10/2012 09:35

A successful and profitable private Trinidadian E&P company is effectively buying Bayfield. The 'merged' co will than be listed. It will raise some funds at the same time for new projects.

Bayfield's mgt step down.

New Trinity's mgt (good pedigree) will work up New Trinity for a sale to a National Oil Company (Korean or Indian, at a guess).

You'll make good money :)

All imho, etc

[mojomonkey] 15/10/2012 09:30

I don't really understand the RNS, can someone explain it in simple terms please.

[luminoso] 15/10/2012 09:10

Hopefully, I will be glad I got back in just in time ! Looking forward to seeing the details of merger.

[triples] 15/10/2012 08:51

Looks very good.

Some fundraising coming along to expand New Trinity further along.

Very experienced management.

I think this is an exit route for all the management, Trinity's and Bayfield's.

I think I'll hold, not that I have a lot of choice :)

[oilbuy] 15/10/2012 07:58

Excellent RNS. Worth waiting for !!!

[mdw1] 15/10/2012 07:54

This is great news......

[divinausa1] 15/10/2012 07:40

interesting...

[stef77] 14/10/2012 13:03

hello all,it's gone quiet here again. we all need a break from it for sure.
but I'm still here and watching, and waiting... and still scratching my head about this capex that Bayfield is committed to. if anyone can help, please share it with the rest of us. basically it comes down again to the cost of these exploration wells (5 of them) that Bayfield has to drill by 2015.
the half year results state: expl expenditure $46.2 mil and field dev expenditure $13.3 mil. question is, the expl exp of $46.2 mil does include or exclude the $13.3 mil dev exp?!
the way I read it , expl is exploration and field dev is a different matter.
if they are different then total capex for H1 is $59.5 millions(46.2+13.3) and the expl expenditure would comprise of:
-EG7 at $21.9 mil write off and expensable(found on income statement)
-EG8 would cost $24.3 mil (46.2-21.9) and capitalised.( and what I think to be found on the statement of cash flow-investing activities -additions to expl and evaluation assets) which is $37.6 mil and presumably made up of $13.3 mil field dev expenditure and $24.3 mil exploration assets ie EG8.
It's very important to me to figure out how much would cost them to drill these 5 remainig expl wells, and if anyone can shed any light on this, no matter how obscure, would be much appreciated!!

[pj 1] 12/10/2012 12:08

Mojo, fair comment. My portfolio has taken quite a nasty hit this year, big time, esp AEX,BOR and FOGL, SNT, BVM and RTG(I missed out on RKH!!) so that's probably reflected in my tone somewhat, I am now more cautious.

Plus I regard all Oilers as a gamble rather than investment.

Good Luck!!

[mojomonkey] 12/10/2012 11:59

Pj, we shall have to agree to disagree then ;-)I do know what you mean though but my glass is always half full.

Anyway I watching SLME ATM looking good there for a 100% return when the full flow results are RNSed What was supposed to be a gas well turns out to be a Light Sweet Texas Oil well that appears to have been recharged from lower reservoirs in the period that it has been out of production.

Like someone on the board there said its like dropping a 20p and finding a £20 note but just leaving it there because you don't need it anymore!

[retsius] 11/10/2012 22:25

ultrapunch
Many thanks

[pj 1] 11/10/2012 21:05

Mojo, sorry mate but usually the AT trades are the more accurate as they are reported promptly. It is the 'O' trades which usually, but not always, lead to confusion.

Any monies placed here at this moment in time, are a gamble, not an investment.

This could go either way...simple

Oh Yeah.....IMO

[pj 1] 11/10/2012 21:05

Mojo, sorry mate but usually the AT trades are the more accurate as they are reported promptly. It is the 'O' trades which usually, but not always, lead to confusion.

Any monies placed here at this moment in time, are a gamble, not an investment.

This could go either way...simple

Oh Yeah.....IMO

[ultrapunch] 11/10/2012 18:50

They are mainly 8.5 forms being issued by Seymour Pierce, retsius. They are being issued because the company effectively put itself up for sale a few months back and an 8.3 form has to be issued if anyone with over 1% of the shares trades in them (hence the BlackRock 8.3 form on the 8th). Seymour Pierce have to announce any trade they do in BEH, via an 8.5 form, because they are the company broker.

[mojomonkey] 11/10/2012 18:18

If you disregard the AT trades as you cant really properly put them in the buy or sell columns then the rest of the definite buys are only slightly above the definite sells.

Who knows where it will go tomorrow but I do know that the MACD is not indicating that we are at the bottom of this yet. Having said that these are super cheap still and as a long term buy you cant really go wrong at this, or even a higher price.

Lots like me at high averages and as we have seen recently, any decent buying pressure and she takes off. GLA

[retsius] 11/10/2012 13:50

can someone explain why all these 8.3 forms are being issued ? What significance are they?

[wapper] 11/10/2012 11:29

This is heading upwards from here.

[wapper] 11/10/2012 11:29

This is heading upwards from here.