Coastal Eng Share Discussion Threads

[loglorry1] 28/8/2013 17:01

TGG don't be so grumpy :-) Average volume is 220K and we are at 114K already so I think we'll be over the average but not amazing given the move I grant you.

[thegreatgeraldo] 28/8/2013 16:53

Nice to see the rise, although not much volume behind it so far.

[davr0s] 28/8/2013 15:55

Less of the sarcasm please. Point was that CEN has been rising and we haven't - but at least we are playing catch up today. No desire for this to go back to £8 - have my full quota and waiting patiently for it to rise in coming months

[luminoso] 28/8/2013 15:29

Is it me or are we heading in the opposite direction of £8 ?
Also why a correction ? Is it compulsory ? Call me sentimental, but I thought the share price rise WAS the correction or is that what you meant ?

[davr0s] 23/8/2013 19:02

Must be due a correction here as CEN closed up 2% yesterday and post closing of uk market is up again today.....

[loglorry1] 22/8/2013 19:59

Yes tgg busy buying from I&S most probably :-)

[thegreatgeraldo] 22/8/2013 17:25

CS quite busy again today.

[proj] 21/8/2013 16:00

Luminoso, that's just so much typing.

[thegreatgeraldo] 20/8/2013 19:54

CS have picked up quite a few today, I've seen 4 blocks of 5k & bits & pieces.

[naeclue] 20/8/2013 15:50

Agree, and production rise should be happening before end of year. Share buy back in mean time won't do us any harm.

[briggs1209] 19/8/2013 20:05

While the underlying story here is better than this time last year or two years ago I cannot see sentiment changing until we see a steady increase in production above and beyond 25000. However when those numbers arrive the price will be well north of the current range.

[davr0s] 19/8/2013 19:17

So what's going on here - endless late trades reported?

[rivaldo] 19/8/2013 13:41

CEO mentioned specifically here FYI:

hxxp://www.privatepunter.co.uk/News/17-august-2013-more-on-accumuli-amino

"Thai tourism officials hit out at nearby energy sites

Bangkok: Tourism officials in tropical Thai islands have blasted energy projects taking place nearby in the wake of last month's horrendous spill.

Tons of oil washed up onto the well known tourist hotspot of Koh Samet following a leak on July 27 between a tanker and a pipeline operated by PTT Global Chemical.

Now neighbouring islands including Koh Samui, Koh Pha-ngan and Koh Tao are on edge about any further disaster happening in what has become a busy area for energy exploration.

At present, four concessions have been granted for petrol exploration in the area, and the farthest oil drill is only 65 km from Koh Tao, while another, operated by Coastal Energy Co, is about 40 km away from the shores of Koh Samui.

''Even at the exploration stage, islands face the risk of an oil leak. Let's look at the Koh Samet's Ao Phrao as an example. The initial leak was 24 km away, but the spill hit Ao Phrao overnight. Here, Samui is 40km away, so it will only take two days to destroy its beautiful beaches," Tanongsak Somwong, president of the Tourism Association of Koh Samui, told local media.

Local tourism officials have hit out at Bangkok's decision to grant energy rights in the area, arguing that tourism dollars are far greater than any likely oil finds. [19/08/13]"

[luminoso] 17/8/2013 11:31

If I wanted to put forward an argument for the share price going back to 800p, I would probably talk of general market irrationality and negative sentiment. I would also suggest that the market no longer trusts the CEO management on predicted production figures, etc.

However, quite a lot has changed since June. The company is more communicative than prior to that time. Also, crucially, sentiment for resource stocks in general does seem to have changed in recent (2?) weeks - admittedly more for miners than oilers - but a successful producing oil company is much less likely to have their share price trashed for no good reason just now - even by the Canadians ! Even SMDR has stabilised and the market really doesn't seem to like them ! Add to that the catalysts listed by DD above and return to £8 seems unlikely right now. All IMO.

On the shorting issue, meanwhile, I don't see 'shorter' as an offensive term. There's nothing wrong with being short or for that matter being "out" and looking for a cheaper re-entry, which I see as similar anyway. If someone posts that they have sold in anticipation of a retrace and gives a reasoning behind that decision, I have no problem. I don't have to agree but I respect their decision. In my case, I have sometimes sold something through irrational fear of a retrace, and I'll be honest about my sense of panic, rather than suggesting I know something others don't.

What does make me 'crabby' is when someone posts "Its going back to £x - you watch" and does not give a reason for that belief, rational or irrational. It gives the impression that they are trying to influence the decisions of others for their own ends. I would prefer - " I sold out at £x and would like to have a chance of buying them back at £y if possible."

[naeclue] 17/8/2013 09:05

It's not hugely informative, to hear that it'll go to 800p because it went there before. The dip previously was due to expected production rises not materializing (predominantly, imo).

Delays to the MOPUs delivery were put forward as a reason for that, which seems to have been accepted as the share price bounced off 800p after briefly touching it.

The catalysts listed by Dukedosh above look good reasons for a positive run up to the end of the year for Coastal.

However, if there are other factors that are overlooked, I would like to hear about them. So, are there other factors that can be put forward?

As an aside, are there any information sources that would allow me to keep up on the progress on the MOPUs?

[thegreatgeraldo] 16/8/2013 19:48

Proj
16 Aug'13 - 10:03 - 1017 of 1019

I'm NOT shorting, just a former (very) long term holder,

2 years is (very) long term........ As they say, time is relative.

[luminoso] 16/8/2013 14:44

Apparently, the argument is "nothing's changed".

[dukedosh] 16/8/2013 11:01

Been away for a while, where does this 800p come from? Have I missed something?

The way I see it all imminent share price catalysts are share price positive:

SP currently trading c.20% discount to NAV.
Malaysia coming on line.
Songhkla H coming on line.
5 more BBM fracced wells coming on line.
NCIB resuming (after 2Q13 blackout).
Oil trading c. $110 bbl.

The above is the very conservative argument for an immediate 1200p excluding ANY upside above expected or not mentioned and any exploration is for free.

Now let's hear the argument for 800p. Anyone?

[proj] 16/8/2013 10:03

qbalkev & luminoso, if you're such expert detectives, you'll have seen my post saying I was "out". I held this from 600p to 1400p.....and back down to 900p - when I exited (protecting that last of my gains).

I'm NOT shorting, just a former (very) long term holder, who sees this back at 800p soon. Sorry if that doesn't gel with your view/hopes.

I find 'shorter' very offensive, but understand why you're so crabby.

[luminoso] 15/8/2013 18:06

Proj

My short jibe was just a throwaway comment to balance your throw away comment about the share price ! If you are not short, you are doing a really good imitation of someone who is.

[thegreatgeraldo] 15/8/2013 16:18

CS just picked up a few shares, noticed 4500, could be the buyback is back on.

[dukedosh] 15/8/2013 09:25

Updated header with July Thai DMF numbers.

[royaloak] 15/8/2013 09:03

looking as if they are consolodating now in Canada, good value there, I may be adding tonight.

[qballkev] 15/8/2013 08:58

It is obvious you are shorting Proj

[proj] 14/8/2013 18:16

luminoso, who mentioned a short? WTF are you on about mate??