Genesis Petroleum Share Discussion Threads

[haydock] 09/4/2009 11:09

Activity around the GPC blocks.

During the period Valiant also notched up five exploration wells of which three were classed as successful.

This year Valiant said its priorities will be first oil from the Don area development, and among others, it will seek to complete the previously-announced acquisition of Nor Energy UK involving a further 10% stake in the Causeway field, and the buyout of Dana Petroleum's 50% equity in Northern North Sea blocks 211/8a, 211/13a, which contain the Banquo and Helena discoveries.

Valiant said it will also seek further acquisitions plus consolidation opportunities in an around its core areas - which it said are arising due to the current financial climate.

[barrywhit] 07/4/2009 15:54

A couple of nice buys at 6.25p and still no tick-up. Must be quite an overhang of stock being held........

[haydock] 02/4/2009 14:47

Small declined oils are in the firing line & can rocket.
It's an active period of M&A.
ENEG today.

[barrywhit] 30/3/2009 15:21

dalesman........when this moves it moves quickly.....best of luck.....Barry

[dalesman] 30/3/2009 14:50

"Looks like the overhang is clearing"

Just a little too fast for me - want to use some GKP profits to add to my bottom drawer position in Genesis.

Shush - lets continue to whisper - its still very much overlooked!

:0)

D

[barrywhit] 30/3/2009 14:46

Cheers haydock,

Looks like the overhang may be clearing.......good long-term hold.......imo

[haydock] 30/3/2009 10:55

Nicked from MOG.

[haydock] 26/3/2009 16:28

In a word, nothing.
Apart from one dry well.Cash in the bank, a good portfolio, but no drills planned. The oil price fell & the market passed judgement, then went to sleep.
Sellers sell, & keep selling.

[thepinkpanther] 26/3/2009 13:55

whatever happened here, bought these once around 20p and sold 30's
they then went on to 60's
now 6's

[haydock] 25/3/2009 12:22

Another deal done: OIlexco blocks bought today.

[barrywhit] 24/3/2009 12:03

There has been a few buys at 6p over the last week, so i think we have an overhang of stock at present...........

[haydock] 24/3/2009 11:56

Listers on here always say that it has little stock in play historically, so we should see some action.
With the M&A in the sector of late, its certain to happen sometime anyway.

[barrywhit] 24/3/2009 11:48

haydock,

Some-ones picking up a few at 6p............

[haydock] 24/3/2009 10:27

Well maybe not quite bottom drawer, there is life in the 211 block & opportunities for the board.
Deals are being done, This from Oil barrel.{Elixir}

The company continues to push ahead with its UK North Sea exploration and appraisal business, which provides the high risk, high impact excitement missing from the Gulf of Mexico operations. One of the key projects here is the appraisal of the promising Mulle prospect (Elixir 40 per cent) in Block 211/22b, adjacent to the proposed Causeway oilfield development. Mulle is reckoned to hold some 18 million barrels of oil but the joint venture was recently awarded Block 211/27d, which contains a mapped southern extension to the Mulle field and is likely to boost that resource estimate. This is all well and good but means little without the test of the drillbit: the joint venture, led by DNO, is seeking farm-in partners before moving ahead with appraisal drilling. An online data room was opened in Q4 2008 and the company says interest levels were "encouraging" with the partners now in discussions with "several parties".

The 25th licensing round also saw the company awarded 100 per cent of Block 211/12b, home to the Tiger prospect. The block lies in the northern North Sea, about 140 km north east of the Shetland Islands and just 5 km east of BP's producing 1.5 billion barrel Magnus field. The Tiger prospect is a Magnus Sandstone Member formation, over 500 feet of which was encountered in Well 211/12b-15 which was drilled down dip of the Tiger prospect in 1992. The equivalent sands in the nearby Magnus field have excellent porosity and permeability characteristics. This looks promising but it is still early days in the exploration cycle.

Elixir has another big cat prospect on its books, the Leopard prospect in Block 211/18b. It has a 56 per cent working interest in the block and was recently granted a four month extension while the company seeks a farm-in partner to share costs and risks. Elixir is keen to conclude a farm-out deal in the next few months to enable it to drill the wildcat before year end. The current market is not promising for farm-in deals and this is a project Elixir has been touting for some time: some positive news on this front would provide some reassurance to investors that Leopard is a goer and, with the promise of some near-term drillbit action, but some momentum behind the share price before the year-end spud.

[jimarilo] 18/3/2009 17:06

Bottom drawer job now

Not surprising in the current financial market, they can only keep their head down for the rest of the year and hope for higher oil and more liquidity

[bamboo2] 16/3/2009 16:31

the last two days are good examples of the PM fixing pog supression, alluded to in dimitri specks intraday chart in the header.
anyone here attempted trading gold on spreadbets using intraday average charts as a guide?

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deit added 25 march 2009 00:39

edit, chart added 09:39 27 april 2009

free stock charts from www.advfn.com

[haydock] 16/3/2009 10:41

They are beginning to work over the Norwegian area near where they have a j/v with us.
Thats all at the moment, no other detaisl from the comapny, so only a hint.

[rdpounder] 16/3/2009 09:54

"drill appraisal well 30/11-7 A in production licence 035 B"

It's the well number isn't it, not a date...?

[haydock] 16/3/2009 09:40

rig coming soon, not a million leagues away, with our partner in crimeas well.
Decision on 31/11 perhaps?

[bamboo2] 15/3/2009 01:09

sorry if i'm missing something here, but what seems to be going on is that as the price rises central banks sell more gold...eg...



perhaps things really are more complicated than this... maybe the smoke & mirrors are obscuring the facts...

[bamboo2] 15/3/2009 00:55

over the last year we've had weekend after weekend of meetings here there and everywhere. normally followed by a major bailout/takeover/bust of banking group/investment house etc followed by an adjustment down in the pog. just wondering what it's going to take to get this thing moving?

[bamboo2] 15/3/2009 00:50

someone had to do it
LOL
edit, I see this thread as a sarcastic aside to the HPC thread.
of course, i hold physical gold for the long term.
i do however enjoy trading my small bullionvault gold holding.
I'm also interested to look at the possibilities of spreadbetting.