Genesis Petroleum Share Discussion Threads

[jimarilo] 17/9/2008 23:43

I would like to think they didn't know ahead of us, but as you say they may well have bought at a discount anyways

Not seen a trade as yet

[troutisout] 17/9/2008 23:24

Maybe not, the date of transaction was the 12th September, they may well be a little miffed, however I assume it was a distressed sell and therefore the price could be well below market price, there has been no trade shown yet has there?

Trout.

[jimarilo] 17/9/2008 23:01

CS are very lucky for GPC to have a duster in time to take Leman's holding at a discount ;-)

[barrywhit] 17/9/2008 18:01

Well it looks like Credit Suisse have picked up all or part of Lehman's shares..
Good news......

[don777] 16/9/2008 12:20

it will be back to the level when it gave up it's first license.

[baht] 16/9/2008 09:59

Jim post#471 I quite agree I have a recolection that the original drilling time was stated to be about 21 days plus.

Still chrisgail is, I think, also on the right track, so now must be a good time to buy if you have any cash available. IMHO of course.

[ze00052k] 16/9/2008 09:41

Looks like its turning

[ze00052k] 16/9/2008 09:36

Where's this going to end? :-(

[ali00] 16/9/2008 09:23

This is not looking good.

[jimarilo] 15/9/2008 21:06

No mention of the re-spud

Since the re-spud they could only have been drilling a matter of 10/11 days, seems very early into the well to call it as a dry hole imo

All seems rather fishy to me, with a distinct lack of detail

[chrisgail] 15/9/2008 18:42

I still think one day the will do it, find the oil that is.

[rdpounder] 15/9/2008 14:50

Wow, what a surprise (not)....good of them to RNS it straight away (not). Still, good to hear
"We currently estimate that the net un-risked recoverable resources related to our exploration portfolio exceed 1 billion barrels of oil equivalent and our participation in the current UK and Norwegian licensing rounds may add to the portfolio."

[barrywhit] 15/9/2008 13:33

chris,

I have had better days........lol

[barrywhit] 15/9/2008 13:32

No wonder Sagex didn't increase their option, shame....still confident of a good return medium to long-term..........

[chrisgail] 15/9/2008 13:31

More Bad news on a Bad news day!

[haydock] 15/9/2008 11:12

In the hands of the administrator, so time will tell, but yes it will have to be unwound/sold as a block if possible first.Unless they accept a bid for that part of the portfolio,however the market either does not know or care at this stage.

[steveofsw19] 15/9/2008 10:44

Lehman bros hold 10 million share here.

Will they now have to have a mass sale of these?

This may lead to a huge slide in SP, no?




S.

[haydock] 15/9/2008 10:32

If the market was operating with any normality, GPC would be at the centre of interest.
It seems that 9 is indeed the hot area in the N.Sea at the moment, confirmed by this article, from Aug.

[jimarilo] 11/9/2008 21:43

I think with most small companies whilst drilling will see fluctuations in sp, however it doesn't always mean bad news

As Norman pointed out with the first well, there was a drop in share price around the sametime he spotted it was P&A'd, this could have been a leak or coincidence, it is a bit of a lottery

On the positive side there is no mention of the second well/re-spud (9/5b-5A) being completed on the BERR website and this is an appraisal well, which has a higher percentage chance than an exploration well of finding hydrocarbons (but is subject to the same down hole problems)

If this well goes full term, there is still a long way to go yet, maybe another couple of weeks drilling time before testing imo

Edit: Baht, yes your right the first well was P&A'd and they spud a new well 5A

The fact the company didn't rns the news, may mean there was no impact on GPC as the drilling company slipped up .......time will tell

[baht] 11/9/2008 13:33

rd Only one well was abandoned according to the above links (I think). The reason for the abandonment is what is not clear and I beleive what Jim was referring to in post 458.

[rdpounder] 11/9/2008 11:00

See the previous links, the wells were spudded but abandoned

[baht] 11/9/2008 10:23

Jim #458 I agree, but the share price movement suggests that someone knows something and it's not very encouraging. Usually on the run up to a 1st drilling results the share price rises on expectation.

[jimarilo] 09/9/2008 08:40

Thought we would have had an rns by now obviously the company didn't think the re-spud worthy

[haydock] 05/9/2008 10:06

Longer term but very significant article?

Are these going to be the guys to shake up the microcap oilies?






I have begun to see the paralells between the premier league & the small N/s oilers.

[haydock] 05/9/2008 10:04

Tullynessle - 27 Aug'08 - 09:02 - 2140 of 2162


Apologies - I did get a bit carried away with the research.

It appears that there is considerable activity started or imminent in the general area comprising Block 3/27, 3/28, 9/2, 9/3 and 9/5.

Drilling rigs are operating on Block 9/28 (StatoilHydro - Bressay) and at Block 9/5 (Genises).

Nautical will be drilling 3/27 in the near future and hopefully 9/2 (Kraken) at some time later.

Xcite have Block 9/3 (Bentley field) and have entered into an agreement for data exchange with StatoilHydro.

It appears that StatoilHydro will be conducting an extended well test at 3/28 using the fpso "BW Carmen" - which has been contracted for a few months from August 2008.

Seismic has been acquired recently in this area.

From the information gathered from various websites it appears that seismic, product and reservoir information is being acquired for developing individual Block(s), or perhaps for an area solution?

Hopefully some of these activities will, (may), help to faciltate Nautical's
development plans in the area.