Coastal Eng Share Discussion Threads

[morti1] 29/10/2013 12:35

Share price starting to wobble again

[davr0s] 18/10/2013 11:54

Disappointing rise given Canada finish, though I do notice that the mm often wait to see where it's going to open at 2-30 before adjusting prices by much. So topped up first thing.

[neilgp] 18/10/2013 08:51

Thanks all!

[dukedosh] 17/10/2013 21:39

We should see a nice pop at the London open in the morning as CEN closed 82 cents up @ C$18.77 tonight probably on the back of Coastal presenting at Canaccord Genuity 2013 in Miami today and investors liking what they heard.

Here's the note from Dale Baker an attendee that posted on Silicon Investor :

CENJF – Everything is good there. Production dipped this year due to repairs on two mobile production rigs, and exploration was slowed by government permit issues. All that should clear up by 2014. New reserves will be booked from a field just going into production now. They are shooting lots of 3D and believe they have another 500 million barrels prospective waiting for them. They also bought all their own facilities to drop $80m in annual leasing costs. Still a cheap stock IMHO.


It would be very nice to hear from management but I still reckon we'll have to wait until the 3Q13 update, due the middle of next month (maybe 11th or 12th?).

[briggs1209] 17/10/2013 16:36

Someone dumped 30000 at 798 p today near the close

[thegreatgeraldo] 17/10/2013 14:20

PS - I don't know which Monday or Tuesday will see an update.. ;-#))

[dukedosh] 17/10/2013 14:17

If you're talking about Q3 update, that's due mid November.

[thegreatgeraldo] 17/10/2013 13:44

NEILGP
17 Oct'13 - 13:40 - 1126 of 1126

Anyone aware when the next update from the company is due?

...Monday or Tuesday after TSX market close

[neilgp] 17/10/2013 13:40

Strange but welcome not to see the volatility in the share price we have recently been so accustomed to! Anyone aware when the next update from the company is due? Regards

[dukedosh] 16/10/2013 12:41

Updated header with Sept Thai DMF numbers.

[loglorry1] 09/10/2013 18:27

lol TGG they have got 39% of the East part though but only 13% of the currently producing field. That's probably where the confusion lies.

Log

[thegreatgeraldo] 09/10/2013 15:20

log,

No. I made it up ;-#))

[loglorry1] 09/10/2013 14:55

TGG are you sure. Coastal does own 39% of the Singphuhorm East field because they have a higher stake in the estern block. Only 13% interest in the other block though right enough. If the two are connected though there will be some adjustments made as I understand it.

As you say probably not enough money to buy out Hess might be for a cash/paper bid for SMDR though?

Log

[thegreatgeraldo] 09/10/2013 14:32

One glaring error in the article - CEO don't own 39% of Sinphuhorm (it's a bit over 13%) & I'd suggest that the new facility isn't big enough to buy Hess' 35% stake. If the partners(Exxon & PTT, say)were to carve up the Hess stake between them the numbers might work.....

[dukedosh] 09/10/2013 14:04

Looks like we're acquiring the Hess gas interests in the Sinphuhorm gas field. This would suggest a near term take out is unlikely.

[dukedosh] 09/10/2013 12:41

Looks too much for a new rig. Maybe they are seeking finance for the Hess deal ? Maybe a bid for SMDR (that amount is close to MCap)? So many variables!

[davr0s] 09/10/2013 09:27

The line of discussion I find interesting there is someone/people have been putting a fair amount on options that the price is going north of $20 in the next few weeks - I am no expert in these but apparently they lose all their money if this rise doesn't happen by that date. So word is they know something - (or they have money to burn!)I have been tempted to top up in recent days. The Canadian market has been edging up, and am guessing the reason we haven't seen this here is the dollar exchange rate. See we are down 1.6% again today which feels overdone. Just have to watch the spread though

[melf] 09/10/2013 09:10

Thank duke. I'm really not sure what to make of this. There are some interesting posts on IV. Anyone got any thoughts?

[dukedosh] 08/10/2013 20:58

Atwood Sells Vicksburg Jack-Up for $55.4 Mln

October 8, 2013

Atwood Oceanics, Inc. announced today that one of its subsidiaries had entered into a definitive agreement for the sale of its standard jackup drilling unit, the Vicksburg, to Gulf Drilling International Ltd (Q.S.C.) for a sales price of $55.4 million.
The closing of the sale is expected to occur in early 2014 following the completion of the unit's contract with its current customer, CEC International, Ltd. The transaction is subject to customary closing conditions.
Rob Saltiel, Atwood Oceanics President and CEO, commented, "The sale of the Vicksburg supports our strategy of high-grading the quality and capability of our drilling rig fleet through newbuild construction and selective asset divestitures."
Atwood Oceanics, Inc. is a global offshore drilling contractor engaged in the drilling and completion of exploratory and developmental oil and gas wells.



* Our two rigs are worlds apart. Maybe just time for an upgrade?

Vicksburg spec:

Manta spec:

[nermil] 07/10/2013 16:12

Well I've sold most of my holdings at a small profit. I live in the US now and frankly it seems to me that the GOP have no immediate plans to deviate from this little kamikaze mission of theirs. I'm not comfortable holding so much money in a single stock particularly a Canadian energy one. The good news however, is that like the bus you wait half an hour for only to give up and flag a cab and watch as three buses pull behind you- fracs will be Wednesday and a T/O at £22 announced by the end of the week. I can't think of another share I've managed to mis-time as badly as this one.

[stansmith3] 02/10/2013 17:59

fe from belthttp://www.investorvillage.com/uploads/57938/files/FACTS-CEN-SMDR.pdf