Genesis Petroleum Share Discussion Threads

[haydock] 02/6/2009 08:46

They should have a word with Nautical about that survey:

More action nearby,M&A!!!



Valiant ups Causeway share
Published 29.05.2009 11:02:29 by John BradburyValiant Petroleum has upped its stake in the UK North Sea Causeway field development by completing the takeover of another company which held minority shares in the field.

Valiant said today it has completed the takeover of Nor Energy UK, which held a 10.50% interest in UK licence PL201 covering block 211/22a and P1383 covering block 211/23d which contains the Causeway field.

As result of the completion, Valiant now holds a total of 24.5% in Causeway, which is operated by Antrim Energy.

Causeway East is due to be tapped as a 9 km (5.6 mile) subsea tieback to the Dunlin platform, exploiting an estimated 7.3 m bbl of oil in a first phase development, with further phases expected to tap the Central and Western areas of the field.

[haydock] 26/5/2009 13:10

Flying past, very near, why not ask for a few extra pics??

New technology to crack Kraken
Published 26.05.2009 08:50:53 by John BradburyNew survey technology is to debut in the UK sector of the North Sea on the Kraken oil discovery commencing in June.

Kraken operator Nautical Petroleum with partners Canamens Energy, and Celtic Oil have agreed to extend the use of controlled-source electro-magnetic (CSEM) with Offshore Hydrocarbon Mapping
which will combine CSEM data with its proprietary WISE technology – well integration with seismic and electro magnetics - to build a better picture of the subsurface geology of the Kraken discovery, in block 9/2b.

After a pilot project involving the Kraken discovery earlier this year, which integrated well and seismic data, OHM is to apply the WISE technique to a further appraisal study, which will be used to map the lateral extent of a resistive body within the discovery which is known to extend significantly further north and south of the 9/2-1 discovery well.

Using OHM techniques with and new CSEM data will allow the field partners to distinguish between competing hypotheses about the geology of the find. This information will then be used assist further appraisal drilling.

OHM is due to commence the new CSEM survey in June, and the contract with the Kraken field partners is worth more than £1 million.

"This type of CSEM survey using WISE technology, which is unique to the OHM group, is particularly appropriate for appraisal projects and helps industry exploit the combined strengths of CSEM, surface seismic and well data," said Richard Cooper, OHM Group president.

[haydock] 22/5/2009 09:46

Coming to a field near by GPC holdings.

[haydock] 21/5/2009 10:04

Some regional activity & newsflow:


Genesis 100% (Operator)
In the results of the UK 23rd Round of Licencing, announced by the DTI in September 2005, Genesis was awarded a 100% interest and the operatorship of Block 9/5b. The Company plans, as part of its business strategy, to find joint venture partners for the block.

Block 9/5b is located close to the UK/Norwegian median line and is surrounded by numerous oil, gas and gas/condensate fields; the Bruce Field to the southwest and the Nugget Fields to the north in UK waters, and the giant Frigg Field immediately to the east in Norwegian waters.

Although many of the surrounding fields were discovered a number of years ago using 2D seismic data, new 3D seismic technology has made it possible to obtain a better definition of more subtle geological features. Application of this technology and integration with experience gained from projects to the southeast has allowed the Company to evaluate fully the potential of the block.
Genesis has identified a number of exploration possibilities at two stratigraphic levels including a drillable prospect. A drilling decision is likely be taken in 2008 and drilling is expected to commence in 2009. Genesis is currently seeking industry partners to join this drilling programme.

Activity nearby:

Offshore247.com » News » Field development » |-| Norway
New Fulla hit could boost nearby Frigg and Heimdal
Published 20.05.2009 10:28:30 by Patrick McloughlinFulla prospect operator StatoilHydro said on Wednesday that the latest data from appraisal well 30/11-7A - which hit gas - has firmed up the prospect and could lead to the continuation of the nearby existing Frigg and Heimdal installations.

Dana Petrolem the previous day announced it had just completed the appraisal well on Fulla using Transocean Leader, a sidetrack of the original 30/11-7 discovery well, and that it had hit gas.

StatoilHydro says the combined volumes proven through two wells now drilled in the Fulla prospect in Licence 035B and PL362 are estimated at between 63 and 107 million barrels of oil equivalent.

"Gas reserves of this size within infrastructure-led exploration provinces are of commercial interest and the discovery may help maintain the operation of installations in the Frigg and Heimdal areas," said Tom Dreyer, StatoilHydro's vice president for infrastructure-led exploration in the North Sea.

Tie-in now considered

The discovery is located close to the abandoned Lille Frigg field, and tie-in to one of the fixed installations in the area will now be considered, StatoilHydro says.

"The discovery is a result of thorough interdisciplinary work over several years," said Dreyer.

"We saw the potential for good reservoir properties in this area at an early stage and our interpretation of the sub-surface was sustained by the discovery of this gas column," he added.

Well 30/11-7A struck gas with a "considerable content of condensate" in Mid-Jurassic reservoir rocks, according to Statoil.

The Fulla prospect - 10 km northeast of the Frigg field in the North Sea - belongs to production licences PL362 and PL035B.

Fulla licensees are: Dana Petroleum Norway (10%), Det norske oljeselskap (15%), Svenska Petroleum Exploration (25%) and StatoilHydro (Operator, 50%).

[haydock] 08/5/2009 10:25

Things are looking forward:
Offshore247.com » News » Exploration » |-| Norway
More seismic explorers pick up signs of recovery
Published 08.05.2009 08:23:55 by Patrick McloughlinNorwegian seismic explorers are picking up more signs on their headphones of their market reviving with more appetite for their services in particular coming from the super majors, according to the latest group to report its first quarter results.

SeaBird Exploration admitted that the short term market outlook remained "weak" but that there were some hopeful signs emerging of a turnaround in demand in their sector.

"Although market outlook in the short term is weak within 2D, shallow water 3D and source, there have been some signs of an increased tender activity over the last few weeks for the second half of 2009," the Norwegian-listed group said.

"The super majors have now committed to the use of our ocean bottom nodes technology, securing backlog well into 2010, and proving the potential of this technology," SeaBird added.

Its remarks follow hard on the heels of TGS-NOPEC, which on Thursday reported Q1 results which were down - but higher than analysts had forecast and the group also said business appeared to be picking up.

"We are certainly seeing increased sales activity in recent weeks and we continue to remain optimistic about the longer term fudamentals for our sector," TGS's CEO Hank Hamilton said on Thursday.

SeaBird, meanwhile, on Friday reported Q1 revenues of $46.5m - up from $39.4m for the first quarter last year.

There was a net loss, however, of $15m which was higher than the $8m net loss a year ago.

[rdpounder] 07/5/2009 17:07

^^^^
Funny man

[papillon] 07/5/2009 16:13

profit taking

[ackland] 07/5/2009 15:51

Why the sudden sells?

[bsg] 07/5/2009 12:58

knickers and tarts !

[haydock] 06/5/2009 09:16

On the way down, it would only only take a £100 to move the share price down.

It looks as if today the same applies to move the share price up.

How much stock is around on level 2 folks?

[haydock] 05/5/2009 09:55

From oil 247:


More sector restructuring set for Norwegian shelf
Published 04.05.2009 08:28:36 by Patrick McloughlinThe Norwegian shelf should see more takeovers and acquisitions this year, as a sector-wide restructuring that had already begun is further fanned by after-shocks of the global economic recession.

That's the conclusion of industry doyen and Wintershall Norge General Manager, Harald Vabø.

"Some existing Norwegian companies might go bankrupt," he said.

"So you will see the players change next year."

Vabø says that his group won't rule out making acquisitions of its own if the opportunity arises.

"We are always looking for acquisitions," he told Offshore247, although he says the primary engine for future of his company will be organic - that is developing potentially major discoveries as well as making new discoveries.

Vabø believes that the economic downturn is hastening the industry restructuring, as smaller players on the shelf struggle to stay afloat amid a much tighter and harsher credit line environment.

"It's difficult for smaller Norwegian companies today," he said.

"E&P is high risk and capital intensive. That does not fit the financial crisis," Vabø added.

[barrywhit] 01/5/2009 15:34

I like this bit:

"we look forward to unlocking this potential with our partners and creating value for our shareholders in the near future".

[haydock] 01/5/2009 15:19

Could he say more: It's only a 2 year licence.

Michael Haagaard, Managing Director of Genesis Norway, commented:


"I am very pleased with this award which has been achieved in a very competitive
environment; it ultimately endorses the quality of our technical work and
focused strategy.


The well commitment is a very positive development for Genesis and does not
challenge our financial resources.


Block 6201/11 has significant prospectivity associated with the 6201/11-1 oil
and gas discovery well drilled in 1987 and we look forward to unlocking this
potential with our partners and creating value for our shareholders in the near
future".

[haydock] 01/5/2009 15:16

Whoops, it was in short supply, came back p.m. to find it had gone up!!!

They have been awarded a licence after all, so it should make a difference.
More Norwegian work with some of the money back.

[goldenshare888] 01/5/2009 15:14

Nice award....................

[robbi123] 01/5/2009 15:13

There's the news....

[wookie77] 01/5/2009 11:48

just cant buy them!!! Rang my broker to go ahead and 10 and moved up again! Either mms are massively short or someone has a v.large buy order in play. Thankfully i have 25,000 bought at 8p. But would like to have had more!

[wookie77] 01/5/2009 11:34

just tried to buy 25,000 at 9p and they moved the price up!

[goldenshare888] 01/5/2009 10:53

Nice steady buying.................

[haydock] 01/5/2009 09:55

Just added a small amount: moved things a little.
Always heard it was thinly traded, but not that tightly held ?

If thats still the case, you have the explanation for the rapid 50% rise the other day.

[5dally] 30/4/2009 13:03

They just have :-)

[wookie77] 30/4/2009 13:02

are these about to go again?

[richie111] 29/4/2009 14:41

Not sure at what price to top-up 6 or 6.5? could have to be 7p would not want to miss it, any throughts?

[aneverydaystory] 29/4/2009 13:23

I'm kinda glad I didn't rush into topping up. Its going to be worth buying more but not yet in my opinion.