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Grove Energy Share Discussion Threads
Showing 1276 to 1297 of 1300 messages
|Stuart14 - are you the only person who is interested? I held Grove in my SIPP (Barclays)and am now in limbo!|
|Guess nobody will see this, but i've just seen Stratic are about to list on the AIM now. All very strange really. They merge with an AIM listed Co, taking them off AIM and then float on the AIM!|
|What happened if you held GRV shares but don't have an account that can hold shares listed in Canada?|
|GRV shares have apparently stopped trading according to the stockhouse.com posters. Not tried myself today.
News due out next week on Monday / Tuesday so it should be an interesting week coming up.
Just speculation but is it possible that this whole merger has been created in order to shape the company for a incredible annoncement over Abbadesse and the share price of the new entity is going to rocket ? After all it has been quiet on that front and news about agreements with ENI are way overdue.
I can dream I guess. ;)|
Attention Business Editors:
Stratic announces two new gas discoveries in the Black Sea, Turkey
CALGARY, March 13 /CNW/ - Stratic Energy Corporation and its joint
venture partners TPAO (the Turkish national oil company) and Toreador
Resources Corporation today announced two further gas discoveries in the South
Akcakoca Sub-Basin in the Black Sea, offshore Turkey.
The Guluc-1 exploration well, which was drilled using the "Atwood
Southern Cross" semi-submersible was drilled on a separate structure (named
Guluc) on the same geological trend as the existing Akcakoca and Akcakoca East
discoveries recently announced. The Guluc-1 well discovery well encountered
gas-bearing sands in six zones between 1,226 and 1,453 meters true vertical
depth in the same Eocene-age Kusuri formation as in the other wells in the
South Akcakoca Sub-Basin. The well was tested and flowed approximately 17
million cubic feet of gas per day through a 48/64-inch choke at a flowing
pressure of approximately 1,180 psi from approximately 37 meters of
perforations across all six zones.
The Alapli-1 exploration well, which was drilled by TPAO using the
"Prometheus" jack-up rig, was located on a separate structure to the north-
east of the Akkaya field, which is currently under development. The Alapli-1
discovery well encountered gas-bearing sands in three zones between 1,068 and
1,242 meters true vertical depth. The two lower zones, with approximately 12
meters of net pay, tested at a flow rate of 6.8 million cubic feet of gas per
day with a flowing pressure of approximately 1,064 psi on a 32/64-inch choke.
Another zone from 1,239 to 1,242 meters true vertical depth will also be
tested within the next few days.
The Atwood Southern Cross rig has now completed its initial three well
program in the South Akcakoca Sub-Basin and will be released to work for
another operator offshore Bulgaria. The "Prometheus" jack-up rig will drill a
well for TPAO in another permit area before coming back to the South Akcakoca
Sub-Basin to set the Ayazli tripod and topsides in late April.
Good progress continues to be made towards first gas production from the
area. The topsides for the Akkaya production tripod have been set and secured.
The next steps involve tying in the three Akkaya wells to the production
manifold and from there to the offshore pipeline system. Once this work is
complete, estimated by the operator to take approximately two weeks, the wells
will be ready to be put on production.
The topsides for the Dogu Ayazli tripod are on location, waiting for seas
to moderate before attempting to lift the structure onto the tripod. The
operator estimates that approximately two weeks will be required to tie in the
two Dogu Ayazli wells and the offshore pipeline once the topsides are secured.
Stratic's President & Chief Executive, Kevin Watts commented "The results
from the three-well Atwood Southern Cross drilling program have been
encouraging in proving up gas reserves in the slightly deeper water area of
the South Akcakoca Sub-Basin. We look forward to working with our partners
over the coming months to determine the optimum development scheme for this
new area of the basin. The results so far from the Alapli well, which is close
to the Akkaya field, are in line with our expectations and we await with
interest the results of the second flow test over the next few days."
Further information on Stratic and its operations can be found on the
company's website at www.straticenergy.com.
The TSX Venture Exchange has neither approved nor disapproved the
contents of this news release.
For further information: Kevin Watts, President & Chief Executive, +44
20 7016 6421; Roger Fullerton, Manager, Investor Relations, (952) 929-7243;
Website: www.straticenergy.com, Email: [email protected]y.com
Index of Releases
© 2004 Stratic Energy Corporation|
|"imho this could get interesting so i'm going to hold on."
Agree, it's the only thing to do.
Since this deal is a steal I don't rule out the possibility of another bid from someone like MOG.
If the deal goes through the new management looks OK and I think I would give the new company a chance to prove itself : if it falls through then the ENI issue should soon be resolved, so what can we lose by waiting - the assets are still in place.|
|any body any thoughts on grove/static;s potential.?
i imagine the management are gagging to get back to the big potential in the scicillian channel.
stratic are doing 2 wells in italy with nop who picked up some of the licences enterprise drilled before take over by shell.
imho this could get interesting so i'm going to hold on.|
|Taken from the rns.
It is intended that Grove's existing listings on the TSX Group's Venture
Exchange and the Alternative Investment Market of the London Stock Exchange ("
AIM") will cease upon completion of the Proposed Transaction and that in due
course applications will be made to list the combined company on the Toronto and
London Stock Exchanges.|
|As I understand things over on stockhouse.com the likelyhood is that if this merger goes through then GRV shareholders will be given shares in the newly formed company and GRV:TSX and GRV:LSE will cease trading in that name.
Assuming this to be the case and that the new company is listed in Canada, valuations aside what does this mean for UK holders ? Will we be given shares and are we able to trade them on the Canadian exchange easily ?|
|I think we'll see a lot more of this over the next few months, consolidation is going to hit the sector hard.|
|shareholders have been robbed if it goes through at this price and stops trading on aim.|
|Thats it. I take it the new entity will say the long GoodBye to the AIM.|
|[happy days about time][hd]|
|What was all that about - Canadian whispers?|
|From Stockhouse - a 725,000 cross trade at 0929 hrs Canadian.|
|Sshhh, It might stop|
|Something's going on.|
|Whilst I wouldn't exactly call this a dog, it does have certain canine characteristics. I hold at 44p (dammit) and I have considered averaging down, but why let more money lie idle in this sleeper for months on end. Time enough to buy more when something happens IMO, preferably when some money is being generated.
GRV could come good - but when?|
I love the rhetoric about economy of extraction - I suspect that this is seldom practiced.|
|ONDON (AFX) - Eni SpA and Grove Energy Ltd have agreed to combine the Abbadesse and Longanesi gas discoveries in Italy, Grove Energy said in a statement.
Under the deal, the pair will carry out a joint technical study on the areas. ENI will be the operator of the field and will be responsible for securing the regulatory approval of the project.
Each party will have the right to market its own gas, Grove Energy said.
'Development of the Abbadesse/Longanesi field has been delayed because Italian law requires that natural resources be exploited in the most efficient manner; resulting in the Italian Ministry of Economic Development directing ENI and Grove to pursue joint development of their respective gas reserves,' it said.
|Anyone able to interpret the latest RNS?|
|is this news the likely reason for the price adjustment or do the merger rumours still hold good ?|