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Very interesting RNS out from TOM this a.m.
Chris Brown, TomCo's CEO, commented:
"This is an extremely exciting time for TomCo and our new subsidiary TurboShale. We believe we have found a collection of technologies that can be competitive at current oil prices and address the problems of producing shale oil from kerogen. While we continue to monitor the progress at RedLeaf, TurboShale allows TomCo to have greater control of its future development plans. There are estimated to be 3 trillion barrels of oil in the Green River Formation in the USA, and TomCo Energy has 126 million of these barrels in JORC Measured Category at the Holliday Block alone, so the prize for commercialising oil shale production is huge. I am very pleased that Ray Kasevich and Jeb Rong have agreed to join TurboShale and to work on the TurboShale™ Technology. I am also looking forward to working with Graeme Hossie again, who co-founded London Mining with me."|
|Thank goodness for that. I struggled to find a seat at Master Investors Show. TW said there were loads of empty seats - tut tut tut - Tom.
Photo courtesy of Jim Mellon.|
Ascent Resources: Price channel points to 4p
By Zak Mir
It has not exactly been an easy ride in terms of the recovery at Ascent Resources (LON:AST); but of course, that is where we get the stock market adage regarding a wall of worry.
Given the share price history of Ascent Resources over much of the recent past, it may be understandable that one approaches any fundamental or technical analysis here with a sense of trepidation. However, in such circumstances it is usually wise to focus on the news-flow and attempt to draw conclusions accordingly. It also helps that since last summer at least, the price action has been on a relatively even keel.
The starting gun for the improvement was arguably in the wake of the gap above the 50 day moving average in August, then in the sub 1p zone, something which was effectively one of my so called “rocket launcher” turnarounds. Indeed, we can see how since then support for the shares has come in almost exclusively at the 200 day moving average, now at 1.42p, which is what you would expect in bona fide strong recovery situations.
As for what may happen next in the wake of this month’s announcement of a customer for its Slovenian gas, we see progress within a rising trend channel which can be drawn in from as long ago as June last year. The big 3-6 months target here – while the 200 day line is held – is as high as the top of last year’s trend channel at 4p.
Zenith Energy: The journey ahead
By Master Investor 27 March 2017
Master Investor: Andrea, it is a pleasure to have you exhibiting and presenting at the Master investor Show this year. First of all, I would like you to please introduce your company, Zenith Energy Ltd., which you have recently listed on the London Stock Exchange, and which is also listed on the Toronto Stock Exchange in Canada.
Andrea Cattaneo: Zenith Energy Ltd. is an international oil & gas production company listed on the Canadian TSX Venture Exchange (ZEE) since December 2008 and recently, in January 2017, achieved dual listing on the London Stock Exchange (ZEN).
The Company’s overarching strategy is the acquisition of large onshore oil & gas fields in countries that offer strong asset protection and a business atmosphere conducive to stable and profitable production activities.
Zenith’s primary focus at present is Azerbaijan where, as the only junior independent oil and gas producer, it operates the largest onshore oilfield of the country. The Company also has operations in Italy with a number of gas producing concessions as well as a stable production of electricity and condensate.
MI: The field rehabilitation programme, specifically the well workover programme, began towards the end of January, with the aim of increasing your current production to 1,000 bopd (barrels of oil per day) by 31 March, 2018. We should remember that Zenith’s oilfields, Muradkhanli, Jafarli and Zardab, previously produced in excess of 9,000 bopd, with peak production even reaching 15,000 bopd during the Soviet Union period. Can you explain what has happened since then and also would you like to expand on your plans to achieve a 1,000 bopd production target within the next calendar year?
AC: Following the independence of Azerbaijan and the fall of the Soviet Union, a decisive energy strategy shift took place with the offshore sector being ascribed primary importance.
This meant that the relatively less productive onshore domain was overlooked. Zenith’s field, the largest onshore field in Azerbaijan with a geographic extent of 642 square kilometres, whilst highly productive during the Soviet Union period with a peak production of 15,000 bopd when the field was recently discovered and had undergone extensive investment, gradually declined due to a series of mechanical failures and lack of material investment.
Zenith’s technical team is confident that with a systematic field rehabilitation programme and well workover activities the field can achieve a sizeable increase in production by March 31, 2018. The fact that Zenith’s 2P reserves have independently been assessed at 33.4 million barrels of oil further supports our confidence. The oil is in the ground and with our favorably low production costs of $12 per barrel (this cost is projected to decrease as production increases) we have all the ingredients necessary for a very positive future development.
It should also be noted that well workovers are relatively low-risk and low-cost operations and are funded by the healthy cash flow generated by our current production of approximately 300 bopd.
I am expecting the results of our first workover, Well M-195, to be available shortly.
MI: Zenith generates regular cash-flow from its Azerbaijan operations, with timely and reliable payments from SOCAR and a very rare low cost of production. Similarly, in Italy, you have stable production of gas, condensate and electricity that also generates regular cash-flow. What are your long-term goals for the company?
AC: Zenith presents a great opportunity and I am confident in saying that we remain very undervalued. The market still hasn’t appreciated the size of our asset, the amount of oil reserves in the ground and our very low cost of production.
My primary goal is to lead an ambitious but prudent expansion of the Company to what can be described as a ‘mid-cap’;.
We have the strongest and most reliable partner possible in Azerbaijan, namely the national oil company, SOCAR, and our field rehabilitation programme which began on February 9, 2017 has a production target of 1,000 bopd by 31 March, 2018. We have a long road ahead but we have every reason to believe that we can achieve this target through our technical and operational abilities.
Whilst our primary focus remains the rehabilitation of our field in Azerbaijan, we are always evaluating new oil & gas production opportunities for further expansion. My primary goal is to lead an ambitious but prudent expansion of the Company to what can be described as a ‘mid-cap’;.
MI: Zenith has a privileged position in Azerbaijan, being the only independent oil & gas company in the country. You are based in Baku with your operational team. Can you give us some background on how you are managing the operations and your relationships within the country?
AC: Zenith is a company run from the field. I spend the majority of each month in Baku overviewing operations and developing our local relationships. I then usually alternate between Canada and the United Kingdom for the remainder of the month. Zenith’s management has strong and effective relations with SOCAR; indeed these relations are the reason we entered the very prestigious oil and gas arena of Azerbaijan. It is worth underlining that Zenith is the only junior international oil & gas company operating in Azerbaijan.
MI: Plenty of news is expected this year. Can you tell us more about your news flow and whether you are considering any further acquisitions?
AC: Expansion is always on the agenda but success in exploiting our transformational opportunity in Azerbaijan is the primary goal. If we achieve our production objectives, we will be in a very strong financial position and will eventually be able to possibly return some money to our loyal investors through dividends. Making further acquisitions will also bring us closer to achieving our long-term ambition of mid-tier status.
Zenith is evaluating at least three new acquisitions at any one time. Such negotiations have a high degree of mortality, as market positions and vendors often change without warning.
A deal can only be considered finalised when it is signed and completed. By keeping an open eye for further expansion we will be in a position to possibly acquire further assets with vast upside potential in the near future.|
loobrush27 Mar '17 - 18:42 - 1111 of 1111 2 0
Tip tv today says oil to flow a couple of weeks.
At 1500 barrels a day would equal profits of £10 million plus per annum
With a market cap today at 10p Angus is valued at £23 million-with £10 million coming in per annum the share price is seriously undervalued and I would expect a huge jump very shortly.
AGM is this week-wednesday so maybe news then.|
|VAST nicely up on red day!|
CURRYPASTY27 Mar '17 - 10:50 - 883 of 884 1 0 (premium)
5 mm's on bid, 1 on ask.. ask looks to tick up on a couple more buys, imo|
lithological heterogeneities27 Mar '17 - 14:11 - 1110 of 1110 1 0
i think this has been massively overlooked and will make many of us very wealthy once we begin production,especially if we achieve 1,500 bopd as hoped.
would imagine we will be at 50p+ later this year.|
|ANGS still moving UP ahead of the news....|
|SSY - Results due this coming Thursday
Scisys Plc (SSY) Receives Corporate Rating from FinnCap
Here is the Link: hTTps://www.chaffeybreeze.com/2017/03/27/scisys-plc-ssy-receives-corporate-rating-from-finncap.html
Hopefully will breeze ahead like Softcat SCT - 298p when mentioned, now at 390p.|
|HUR bought 50k this morning.
Rerating news and all time high break. Expect it will run.
free stock charts from uk.advfn.com|
|AOR GOING BACK UP|
|SAL UP SHE GOES AGAIN|
|SAL DAY HIGH|