New City Energy Share Discussion Threads

[energiser01] 24/2/2011 08:11

NAV still around 92 to 93p by my model/estimate.

dyor etc...

[energiser01] 18/2/2011 09:32

Good news from BPC 4th largest holding at end of Jan 2011 at 4.5% of portfolio.
up around 19% at present.



18 February 2011

Bahamas Petroleum Company PLC

("Bahamas Petroleum" or the "Company")



Preliminary results from onboard processing of seismic survey



Summary:



· Preliminary onboard processing of recently completed 2D seismic survey in southern Commonwealth of Bahamas waters shows numerous structures with four way dip closure significantly larger than previously expected.



· Detailed processing will take approximately two months, which will verify the preliminary interpretations and give further in depth analysis.



· Potential 3D seismic survey being considered with a number of suitable vessels available on short notice.



· The presence of a potential Middle Jurassic salt layer may point to a further "sub-salt" play in the area.



Bahamas Petroleum, the oil and gas exploration company with licenses in The Bahamas, is pleased to announce the posting on its website of two recently completed, independent consultant studies by Dr. Mark Rowan of Rowan Consulting Inc (Jan 2011) and Mr. Ozanisch of Lago Petroleum Consulting (Feb 2011). These documents provide important results from the June 2010 fully processed Pre-Stack Time Migration (PSTM) data along with preliminary mapping results of shipboard analysis of the January 2011 2D seismic survey. Both provide evidence of 'giant' size structures in the southern licences held by the Company's subsidiary, Bahamas Offshore Petroleum Ltd., capable of holding several hundred million barrels of oil. They provide the first structure maps documenting the size and extent of closure of these features, based on 1,120 km of seismic data and demonstrate the consistency of fold formation, the continuity of folds along the structural trend, the ability to seismically map internal stratigraphic consistency (i.e., continuity of reservoir-seal strata) across the folds and the geometric form of the folds.



These results are preliminary and the full PSTM processing of the 2011 2D seismic data is due for completion by end April 2011 and will form the basis for detailed structural interpretation and prospect evaluation. In addition to the seismic data, gravity and magnetics data were acquired which are currently being processed.



Dr. Paul Crevello, CEO of Bahamas Petroleum said:

"Rowan and Ozanich's reports are significant because they provide the first modern interpretation of seismic data and exploration potential of the Bahamas Offshore Petroleum licences from the Bahamian fold belt. These independent studies verify the extent and style of structural geometry of the large-scale folds which was not possible from the historical seismic data.



"Improved technology enabled exceptional resolution within the folds, allowing us to see for the first time the lateral continuity of potential reservoir and sealing strata. These studies are important for several reasons:



1) the 2010 PSTM data indicates that the structures are simple folds and that reservoir-seal strata appear to be continuous across the extent of the structures;



2) continuity of reservoir-seal pairs will enhance long-distance drainage of reservoirs;



3) the detachment of the compressional folds suggests the presence of a Jurassic salt layer and may provide a deeper 'subsalt' exploration play which we had believed was present but could only document in the June 2010 seismic, and;



4) the size of the fold belt prospects are considerably larger than those previously defined in the 2007 Competent Persons Report ('CPR').



We are waiting for completion of seismic processing of the January 2011 survey through PSTM and a new CPR to determine undrilled and unproven resource potential."



Non-Executive Chairman Alan Burns, of Bahamas Petroleum Company Plc, said:

"These structures are exceptional in the size and extent of the 4-way closure, indeed I am not aware of any anticlines of this size in the Gulf of Mexico - Caribbean region. We look forward to testing these structures with the drill bit to determine if hydrocarbons are present. Bahamas Petroleum intend to stay on course to drill a well within the next twelve months, once appropriate drilling and environmental regulations are in place in the Commonwealth of The Bahamas."

dyor etc..

[energiser01] 11/2/2011 15:38

Back to about 96p now, Rockhopper being down with todays announcement from the level on the 4th equates to about -1.2p off the NAV, offset my others doing well though fortunately.

dyor etc...

[energiser01] 09/2/2011 17:01

NAV 98p on 4th Feb equates to around 97p today based on my model/estimate.
dyor etc...

[energiser01] 08/2/2011 14:44

Good news from Gran Tierra

Full article at@-


"Gran Tierra Energy attained record levels of reserves and production in 2010 through successful exploration for new reserves and successful management of existing reserves," said Dana Coffield, President and CEO. "In 2011, we are focused on continuing growing reserves through exploration drilling in Colombia, Peru and Brazil, continued delineation drilling of new reserves discovered at the Moqueta oil field in Colombia, and growing production through development drilling and reservoir management in existing producing fields in Colombia, Argentina and Brazil. It remains our intent to execute our capital program in 2011 through available cash and cash flow from operations, allowing the company to remain debt free."

[energiser01] 07/2/2011 13:43

NAV still moving in the right direction now 96p to 97p.

dyor etc..

[energiser01] 02/2/2011 08:27

NAV now around 95.5 to 96p by my model/estimates.

dyor etc...

[energiser01] 31/1/2011 10:47

Positive update from Eastern Star Gas overnight in AUS on Newcastle LNG, small delay Tintsfield Pilot de to wet weather....

KEY POINTS
LNG Newcastle Project
The Company's Feasibility Study into development of an LNG export project at Newcastle NSW
was completed in December 2010 with favourable outcomes. Forecast project costs are
competitive with industry best practice while the mid-scale electric-motor driven technology is
ideally suited both for use at Newcastle and for supply from a coal seam gas project.
Project Approvals
Director General's Requirements ('DGRs') for development of the Narrabri CSG Project and a gas
pipeline to Wellington have been received. An application for approval to develop a gas pipeline
to supply gas to the LNG Newcastle Project has been submitted.
Resourcing
The Company has geared up to oversee project development activities. Mr Alan Fanton has been
appointed to the contract position of Project Director and will oversee detailed Feasibility Study
and FEED activities for the Narrabri Coal Seam Gas Project and the LNG Newcastle Project.
Pilot Production Activities
Operation of the Bibblewindi Multi-lateral and Bibblewindi West Pilots continued following
upgrading of water handling capacity last Quarter. The Bibblewindi West Pilot reached a new peak
in gas production in excess of 2.2 million standard cubic feet per day.
Delays in production start-up from the Tintsfield Pilot due to significant wet weather have
resulted in a delay of the 2010 Year End reserves review with production testing now expected to
commence around the end of February this year.
Wilga Park Expansion
Installation of three additional 3 MW generators is well advanced with pre-commissioning of the
first of the new units underway.
Consolidation of PEL6 Interests
The Company consolidated its interests in PEL6 with the purchase of an additional 5% interest in
the coal seam gas and conventional rights in PEL6 for $100,000 and $10,000 respectively.

[energiser01] 31/1/2011 08:45

NAV still around 93.5p after overnight changes

dyor etc..

[energiser01] 29/1/2011 11:45

NAV still around 94p level

[energiser01] 26/1/2011 11:18

NAV around 94p at present by my estimates/model.

Good update from Progress Energy Res Corp.



dyor etc...

[energiser01] 25/1/2011 11:52

Bahamas Petroleum Co - Director buying another 100,000 shares.

Seismic survey underway for next 3/4 weeks. Vessel committed to other work from March. See bpc threads for more details/analysis.

dyor etc..

[energiser01] 24/1/2011 19:51

NAV picking up again, back up to around 95p at present...

dyor etc...

[energiser01] 24/1/2011 09:14

NAV still around 94p

dyor etc..

[energiser01] 21/1/2011 09:11

Good news From Valiant this morning ....

Valiant Petroleum plc

21 January 2011

PRESS RELEASE

Don Southwest 'E' Panel Discovery

Valiant Petroleum plc ("Valiant") is pleased to announce that its Don Southwest 'E' Panel exploration well (211/18a-S7) has reached total depth of 11,540 TVDSS feet (3,517 metres) and has encountered a hydrocarbon bearing Brent sand formation indicating a gross recoverable accumulation of 5-7 million barrels of oil (2-3 million barrels of oil net to Valiant). The well will now be suspended as a future production well which is anticipated to be brought on-stream in the second half of 2011, representing incremental volumes on current 2011 production guidance.

Following its success on the 'E' Panel, the field partners have decided to drill a low cost pilot-hole into Area 26 to appraise the commerciality of the 211/18a-26 discovery originally drilled in 2007. Following completion of the Area 26 well, drilling will commence on the Don Southwest Area 6 development which is anticipated to come on-stream during the summer of 2011.

Average production rates net to Valiant for 2010 were in excess of 7,400 barrels of oil per day representing the upper end of production guidance and current production rates, oil prices and operating cash flow are running ahead of internal forecasts.

Peter Buchanan, CEO, commented:

"We are pleased to announce the discovery of the Don Southwest 'E' Panel the first exploration well of our 2011 drilling campaign. This result confirms our long-held belief that the Don Area contains upside potential which can be rapidly commercialised through the existing infrastructure. We look forward to working together with our partners in the Don Area to prove-up further volumes in 2011 and beyond."

dyor etc..

[energiser01] 21/1/2011 07:51

NAV now around 94p by my estimates.

dyor etc..

[energiser01] 20/1/2011 20:26

Update on Corrib from Vermillion.

Vermilion Energy Inc. Announces An Bord Pleanála's (ABP) Approval for the Construction of the Corrib Onshore Pipeline
Vermilion Energy Inc. Announces An Bord Pleanála's (ABP) Approval for the Construction of the Corrib Onshore Pipeline
Jan. 20, 2011 (Business Wire) -- Vermilion Energy Inc. (TSX: VET) is pleased to announce that An Bord Pleanála has granted permission for the construction of the Corrib gas onshore pipeline in Ireland.

In its detailed determination issued today, ABP stated that the development "would help safeguard the energy security of the State, would benefit the Western Region of Ireland, would not seriously injure the amenities of the area, would not be prejudicial to public health or to public safety and would not be likely to have significant effects on the environment."

The Corrib Gas Partners look forward to completing this strategically important project and delivering the gas to Ireland. At peak production, Corrib gas will supply up to 60% of Ireland's natural gas needs and will play an important role in Ireland's energy security in the years ahead.

Vermilion Energy Inc. is an oil-leveraged producer that adheres to a value creation strategy through the execution of full cycle exploration and production programs focused on the acquisition, exploration, development and optimization of producing properties in Western Canada, Western Europe and Australia. Vermilion is targeting 10% annual growth in production through the exploitation of conventional resource plays in western Canada, including Cardium light oil and liquids rich natural gas, the exploration and development of high impact natural gas opportunities in the Netherlands and through drilling and workover programs in France and Australia. Vermilion also expects to realize a material increase in both production and fund flows at the onset of production from the Corrib gas field in Ireland. This growth, combined with an attractive yield, is expected to generate strong positive returns for investors. Management and directors of Vermilion Energy Inc. hold approximately 9% of the outstanding shares and are dedicated to consistently delivering superior rewards for all its stakeholders. Vermilion Energy Inc. trades on the Toronto Stock Exchange under the symbol VET and over-the-counter in the United States under the symbol VEMTF.

[energiser01] 20/1/2011 08:28

Weaker overnight.

I est NAV around 95p this am, rebased for RNS yesterday.

dyor etc..

[energiser01] 19/1/2011 16:36

Don't forget that RNS states the NAV as of the 14th not the present. I had it slightly higher at 98p, although within the range 96 to 100p, will need to recal current NAV.

[gconvery] 19/1/2011 16:25

Hmm, that NAV RNS didn't appear on Monkeyam monitor....96p undiluted

[energiser01] 19/1/2011 13:56

NAV still hovering around 99p. A strong start in Canada could put it over the £1 mark. Not sure why that's really significant but feels like a milestone....

dyor etc..

[energiser01] 17/1/2011 11:40

Friday in Canada.
Estimate at around 9.7$ this is £55m Canadian Dollars added to the coffers.

CRESCENT POINT ENERGY ANNOUNCES DISPOSITION OF SHARES IN PAINTED PONY PETROLEUM LTD.
Jan. 14, 2011 (Canada NewsWire Group) --

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE U.S./


CALGARY, Jan. 14 /CNW/ - Crescent Point Energy Corp. ("Crescent Point" or the "Company") (TSX:CPG) announces that it has filed an early warning report with the Canadian securities regulatory authorities confirming that Crescent Point has disposed of all of its interest in 5,861,200 Class A Shares of Painted Pony Petroleum Ltd. ("Painted Pony"), representing 11.5% of the issued and outstanding Class A Shares of Painted Pony. Upon such disposition, Crescent Point does not hold any securities in the capital of Painted Pony.

dyor etc...

[energiser01] 14/1/2011 13:37

Goog news from Niko Resources.

Niko Announces Double Farmout With Repsol Exploration SA
Niko Announces Double Farmout With Repsol Exploration SA
CALGARY, ALBERTA, Jan. 14, 2011 (Marketwire) --

Niko Resources Ltd. ("Niko") (TSX:NKO) is pleased to announce that it has reached a Farmout agreement with Repsol Exploration SA ("Repsol") in which Repsol, through its subsidiaries, will become a joint venture participant in both the East Bula and Seram Production Sharing Contracts (PSC) in Indonesia. As a result of the agreement, Niko as operator will hold 55% working interest and Repsol will hold 45% working interest on each PSC. The transfer of interest has been approved by the Government in Indonesia.

The Seram PSC was signed by Niko in November 2008 while the adjacent East Bula PSC was signed by Niko in November 2009. Niko as the operator of both blocks has completed a 4,760 km 2D seismic survey and a 200 square km 3D seismic survey.

Repsol and Niko are also joint venture partners in three recently awarded blocks; Cendrawasih Bay II, III, and IV. These three blocks were signed under a Production Sharing Contract on May 18th, 2010. Niko as the operator of Cendrawasih Bay III and IV has already completed a 5,240 km 2D seismic survey.

[energiser01] 14/1/2011 09:02

Some of the key changes since the 8th Jan (excludes anything between -5 and +5%)

EWD.V -7.59%
VOG.L -5.97%
KAR.AX 5.05%
HAT.V 5.54%
CPL.AX 7.14%
TET.TO 7.26%
VPP.L 7.76%
PRQ.TO 8.81%
ESG.AX 8.86%
RIA.AX 10.67%
CEN.V 12.90%
HZN.AX 14.29%
PCI.L 15.09%
BKX.TO 18.76%
NDO.AX 20.00%
ADX.AX 33.33%

Ratio is 4 risers for every 1 falling share price at present.

dyor etc..

[energiser01] 14/1/2011 08:52

NAV now around 99p with overnight changes.

Can it make £1 to round off another good week.....

dyor etc..