Bluebird Energy Share Discussion Threads

[shaun09] 18/1/2013 12:27

euclid...so you are saying BBE is worthless then lol ?

[euclid5] 18/1/2013 12:19

They are also looking at investments outside the OIL& GAS sectors as noted in the AGM statement below:

Following a review of strategy, the board has decided to broaden the extent of Bluebird's investment focus to include opportunities outside the oil and gas sector.

ORA Group Services Limited is an associated company of ORA (Guernsey) Limited, which owns approximately 25.8 per cent. shares in Bluebird

[euclid5] 18/1/2013 12:16

Taken from the last YE a/c's: what can the costs be for exiting out of these 2 projects (Marcellus and Revloc Projects )& can this hit the balance sheet in any way ?

In the US, Solitaire is the only asset to which the Company has continued to assign any meaningful value. The Company is in the process of marketing this asset for farm-out or sale.

Whilst the decline and on-going weakness in the gas price has diminished interest in Solitaire as a Niobrara biogenic shallow gas play, we are evaluating whether the acreage may have potential as a Mississippian oil play.

Elsewhere in the US portfolio, the focus is on securing a complete exit from the Marcellus and Revloc Projects at minimal cost. Specifically, the operator at Revloc is currently in the process of commissioning contractors to Plug and Abandon seven wells in Cambria County, Pennsylvania.

[shaun09] 18/1/2013 12:04

Tyrone...yes i think that was an interesting point you make,i also spotted recently that chairman James Ede Golightly won a chartered director of the year award.

[tyrone66] 18/1/2013 11:52

Sean at the agm 180m voted for the resolutions that 36% so they have other friends onside too

[shaun09] 18/1/2013 11:47

UPDATED*

Bluebird Energy Plc

Holdings / Major Shareholders

ORA Capital Limited - 128,580,000 - 25.8%

[tyrone66] 18/1/2013 11:27

I have a feeling they own or control slot more than that.

[father o toole] 18/1/2013 10:59

Stox, Shaun, anyone

Does anyone know exactly how many shares in the company ORA capital now controls?

[father o toole] 18/1/2013 10:57

The real price is .55/62

You can sell 1m online for .55' so they are still after stock for large buyers

[knigel] 18/1/2013 10:55

Just imagine if a RNS was released after 4pm - imagine the volume on Monday! Seen it happen many times before...

[h d shoring] 18/1/2013 10:54

Huge spread is normal but if it tightens watch out for action.
Have to keep close watch though because the prices on show are not what you can get from brokers .

[glluckett2] 18/1/2013 10:49

Huge 'spread' on these today ! Is that normal ?

[father o toole] 18/1/2013 10:45

Hey stoxline I agree a farm in on an oil well would be a game changer for bbe
And there is a lot of oil in that area.

Oil is found in Mississippian shelf carbonate rocks (the St. Louis, Spergen, and Osage/Warsaw Formations) in a zone over, and parallel to, the long direction of the Las Animas Arch, and concentrated in Cheyenne and Kiowa Counties. According to the COGCC database, two wells in the Lookout field in township 11S44W about 15 miles south of the most southerly Solitaire leases have tested oil from the Spergen Formation. Rates were low, although the API gravity of 34o was moderate.

Production also comes from Mississippian rocks in the Archer, Smoky Creek, and Cheyenne Wells fields, in the north of Cheyenne County, Colorado, and just to the south of Kit Carson County. The largest producer in the play is the Brandon field in Kiowa County, which has produced over 20 million barrels of oil.

[father o toole] 18/1/2013 10:38

Pipeline with spare capacity crosses the lease, it gets even better??

[father o toole] 18/1/2013 10:35

Solitaire defines a region of leases in northeast Kit Carson  County, eastern Colorado, enclosed within about 360 square miles. Limited historic drilling has taken place in this region, and no wells have to date been drilled by the operator of the Bluebird Energy plc leases. There is therefore insufficient material on which to base a quantitative assessment of the resources within the leases.

Bluebird Energy plc has stated that Solitaire "primarily targets the Cretaceous Niobrara Formation". It is clear that the producing Bonny field is within a couple of miles of the Solitaire area. Two of the wells drilled in the Solitaire region in 1980s have tested at acceptable rates. Although gas prices in the continental USA remain depressed, advances in CT drilling mean that wells can be drilled cheaper, and much quicker, than previous wells for which a conventional rotary drilling rig was used. Moreover, a pipeline with spare capacity crosses the lease, so tie-in of any commercial discovery could be carried out relatively simply.

[father o toole] 18/1/2013 09:56

Meanwhile ORA capital share price continues to rise, it's now virtually doubled in 6 weeks, so I think it's safe to say they know how to get a share up :))

[father o toole] 18/1/2013 09:52

Hey stoxline, it might be valued at zero currenly by the Market but with producing gas wells on the acreage it must be worth quite a lot imo

[father o toole] 18/1/2013 09:21

I was just thinking it would be a brilliant result if they could get someone to farm into solitaire, it would be a win win for bbe as solitaire is currently valued at zero.

[frac_zone] 18/1/2013 09:20

I bought 825k @ 0.62p just after open and it has not shown in trades data as yet so some games being played here !