Share Name Share Symbol Market Type Share ISIN Share Description
Bridge Energy LSE:BRDG London Ordinary Share NO0010566235 ORD NOK1 (DI)
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 152.50p 0.00p 0.00p - - - 0.00 05:00:10
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers - - - - 96.73

Bridge Energy Share Discussion Threads

Showing 526 to 548 of 550 messages
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older
DateSubjectAuthorDiscuss
10/10/2014
12:17
Tom's new turn around play Iona Energy listed on the TSX-V ====== Iona Energy seals offtake deal to advance Orlando field development Toronto listed Iona Energy (CVE:INA) revealed offtake arrangements have been secured for its 75% owned Orlando field in the North Sea. Iona agreed the deal with CNR International, the operator of the Ninian Central Platform (NCP), which is where the field’s oil will be routed. A field development plan was approved for Orlando last April and first oil is targeted by the end of 2016. The ‘hub’ development will initially give Iona net production of 8,000 barrels oil equivalent per day, from an 11.5mln barrel reserve. Planning is already at an advanced stage for the installation of brownfield equipment on NCP starting next year, while subsea and drilling work is slated for 2016. Iona chief executive Tom Reynolds now anticipates the Orlando development will move ahead at pace, following the off-take deal and its associated agreements. Dave Whitehouse, CNR’s vice president of development operations, meanwhile, said: ““CNR is pleased to be working with Iona to bring additional production volumes back to the Ninian Central host platform. “The Orlando development is an important development for this key North Sea hub.” Iona separately confirmed to investors that it is incompliance with its debt covenants, relating to a senior secured bond, and said it does not foresee any breaches of its covenants in the third or fourth quarter of this year – notwithstanding the longer shut-down of its 15% owned, E.ON operated Huntington field. The company also told investors that a proposed buy-out of the Trent and Tyne fields was now highly unlikely to go ahead and revealed a potential dispute with its partner in the project Perenco. Iona had agreed to buy Perenco’s 80% stake in the asset back in April, signing a sale and purchase agreement (SPA) which had an October 28 deadline. The company said it had intimated to Perenco in recent letters that it did not believe the conditions could be satisfied in the remaining time. In today’s statement Iona said: “Perenco has disagreed with the position of the company and has now written to Iona attempting to terminate the SPA on the grounds of the company’s alleged breach of contract, stating that it was entitled to retain the deposit of US$2mln and reserving its rights to claim damages. “The company strongly believes that it has complied with its obligations under the SPA and accordingly is entitled to the repayment of the deposit and will robustly defend any action raised by Perenco.” [...]
aim_trader
10/10/2014
11:40
Tom's new turn around play Iona Energy listed on the TSX-V ====== Iona Energy seals offtake deal to advance Orlando field development Toronto listed Iona Energy (CVE:INA) revealed offtake arrangements have been secured for its 75% owned Orlando field in the North Sea. Iona agreed the deal with CNR International, the operator of the Ninian Central Platform (NCP), which is where the field’s oil will be routed. A field development plan was approved for Orlando last April and first oil is targeted by the end of 2016. The ‘hub’ development will initially give Iona net production of 8,000 barrels oil equivalent per day, from an 11.5mln barrel reserve. Planning is already at an advanced stage for the installation of brownfield equipment on NCP starting next year, while subsea and drilling work is slated for 2016. Iona chief executive Tom Reynolds now anticipates the Orlando development will move ahead at pace, following the off-take deal and its associated agreements. Dave Whitehouse, CNR’s vice president of development operations, meanwhile, said: ““CNR is pleased to be working with Iona to bring additional production volumes back to the Ninian Central host platform. “The Orlando development is an important development for this key North Sea hub.” Iona separately confirmed to investors that it is incompliance with its debt covenants, relating to a senior secured bond, and said it does not foresee any breaches of its covenants in the third or fourth quarter of this year – notwithstanding the longer shut-down of its 15% owned, E.ON operated Huntington field. The company also told investors that a proposed buy-out of the Trent and Tyne fields was now highly unlikely to go ahead and revealed a potential dispute with its partner in the project Perenco. Iona had agreed to buy Perenco’s 80% stake in the asset back in April, signing a sale and purchase agreement (SPA) which had an October 28 deadline. The company said it had intimated to Perenco in recent letters that it did not believe the conditions could be satisfied in the remaining time. In today’s statement Iona said: “Perenco has disagreed with the position of the company and has now written to Iona attempting to terminate the SPA on the grounds of the company’s alleged breach of contract, stating that it was entitled to retain the deposit of US$2mln and reserving its rights to claim damages. “The company strongly believes that it has complied with its obligations under the SPA and accordingly is entitled to the repayment of the deposit and will robustly defend any action raised by Perenco.” [...]
aim_trader
25/10/2013
08:00
"The primary exploration target for wildcat well 16/1-20 A was to prove petroleum in Middle Jurassic reservoir rocks (the Hugin formation) to delineate a possible extension of the Ivar Aasen field towards the west side of the Utsira High. The secondary target was to prove petroleum in the Upper Triassic (the Skagerrak formation). The well encountered about 600 metres of sandstone with traces of oil in several intervals in the ├ůsgard, Draupne, Heather and Hugin formations. The reservoir quality is mostly good, as expected. The well is classified as dry." Spike's offer not too bad in the end then.
rogerlin
01/10/2013
14:15
http://www.oslobors.no/ob_eng/markedsaktivitet/stockNews?newt__ticker=BRIDGE&newt__menuCtx=1.1.17# Details now to be sent to shareholders on 2nd October by the look of it.
rogerlin
20/9/2013
11:37
Where is everyone planning to put there BRDG money? What do you feel the best option is that is producing and undervalued??
polyps
20/9/2013
07:46
This week's Shares magazine has an article on Xcite which mentions the Bridge bid and says "The head of Sector Investment Advisers and fund adviser to the Junior Oils Trust Angelos Damaskos notes the offer is pitched at a 5% discount to net asset value".
rogerlin
18/9/2013
08:04
I agree. The bid is pretty poor, but in a short term perspective at least we wont have a diluting offering of shares. However, with a hit on Asha and Amol, it should have been possible to sell PL457 for quite a lot of cash.
mattoil
18/9/2013
07:49
Thanks Mattoil. Personally I am very unimpressed that this sale should be arranged in mid-drill, with the results from Amol possibly only days away. And as Spike is not quoted, shareholders have no way now of participating in any upside from these drills that we have anticipated for so long.
rogerlin
18/9/2013
07:34
Hi, The only thing I am unsure about is how an oil find on Asha or Amol would affect the bid. Some shareholders speculate that Spike will not get the 90% acceptance they want and therefore may be forced to up the bid, or that larger shareholders will demand a higher bid if they find oil. The final bid document we will not see until 30th of September. I see at least one analyst has recommended holding on the shares as a free option - higher bid if they find oil, same bid if they don't. Others considered it a done deal. Personally I have sold, but I could just as easy have waited it out. I am unsure on how this one will roll out. I think the bid is far to low and it surprises me that the board recommended it. The company has been communicating far higher values and now they consider this a "fair deal", never mind that they own few or none shares themselves. In light of their rather generous options I can at least see why management want the deal. I am also surprised Lime Rock decided to sell the way they did, but they may have been in urgent need of cash for all I know. I would have preferred to see a bidding war, but that looks rather unlikely, unless someone would be happy with 66% of the company of course.
mattoil
18/9/2013
07:16
Mattoil, are you following all this. Is there anything that could derail it?
rogerlin
17/9/2013
16:06
Absolutely agree. Different area but same happened with AFF. Very positive directors suddenly become the opposite.
garfield31
17/9/2013
16:01
I must admit to being slightly peeved by this one. Statements like this from the CEO are indicative of a wider problem of market shortermism imo. Mr Reynolds said he believes Bridge has great potential but "it would be two to three years to see that value really develop" into returns for shareholders which is why the cash offer is attractive. 2-3 years! I have socks that are older.
sludgesurfer
17/9/2013
12:41
http://www.heraldscotland.com/business/company-news/bridge-energy-agrees-103m-takeover-deal.22170801
rogerlin
16/9/2013
12:00
I only bought in on 23 August at £1.16 and was really looking forward to this next well.
robizm
16/9/2013
11:56
Excite next? Could be a smart move to sell holdings in BRDG and move them to XEL? Premium should be around four times current share price.
wendsworth
16/9/2013
09:19
lol old timer :-)
bomfin
16/9/2013
07:59
If you think this is a tough market - you ain't been born!
old tyke
16/9/2013
07:56
Sad to see this one go at this price although I was buying near the bottom so its a nice profit in a tough market.
bomfin
16/9/2013
07:51
It looks as if both State Street and Lime Rock who had 28 and 25% as of May 2013 must both have agreed the offer to get to the 62% level of acceptances mentioned.
rogerlin
16/9/2013
07:09
BYE BYE Bridge, had hoped any take over would have been nearer £2
pistonbroke1
12/9/2013
07:46
Antrim Energy Inc., a Canada-based international exploration and production company, today announced that routine maintenance of the North Cormorant platform has commenced as scheduled and oil production from the Causeway Field in UKCS P1383 Block 211/23d (Antrim working interest 35.5%) and the Cormorant East Field in UKCS P201 Block 211/22a Contender Area (Antrim working interest 8.4%) is currently shut-in. The maintenance work is expected to interrupt production from the Causeway and Cormorant East fields for approximately six weeks (Sept 10th)
rogerlin
08/9/2013
09:16
Nice article in "Shares" this week by Tom Sieber, "Four oil explorers set for the big time". The whole article is a good read but I have only hard copy and the bit on Bridge is quite short so I will just enter it: "An exciting portfolio of exploration assets in Norway underpinned by steady and increasing UK output adds up to an attractive mix at Bridge Energy. Near-term catalysts include results from the Amol well and appraisal drilling on the Asha discovery, with operations due to commence in Norwegian waters before the end of September. A number of targets will be chased through to the end of 2014 and the most high-impact of these, in the third quarter of next year, will test the Hercules prospect. Pre-drill estimates put the potential at 93.9 million barrels of oil equivalent net to the company. According to independent broker Cantor Fitgerald Bridge's production is worth 140p per share, once general and administrative costs and net debt of £8.9 million have been factored in. This 21% premium suggests the market believes the planned exploration drilling will destroy rather than create value. A track record of seven successes from the 13 exploration and appraisal wells drilled to date suggests this is overly pessimistic". The others tipped are Faroe, Ithaca and Tower.
rogerlin
06/9/2013
17:52
Think you are right Rogerlin. Outside Asha and Garantiana I doubt there's anything in the share price for other Norwegian assets.
bomfin
Chat Pages: 22  21  20  19  18  17  16  15  14  13  12  11  Older
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