Regal Petroleum Share Discussion Threads

[j drama] 22/2/2012 01:25

Spec
I found this today.

'REGAL AIMS TO DOUBLE GAS OUTPUT TO 2,890 BOEPD BY MID 2013
January 19, 2012
 
Regal Petroleum aims to double its gas production to about 2,890 boepd by mid 2013, according to the statement of the company's nonexecutive director and head of energy business at Smart Holding, Alexey Timofeyev. Regal is scheduled to drill two production wells with depths of 5,450 metres and 5,250 metres respectively in 2012. The drilling of the fi rst well is expected to start in late February and the second one should be started to be drilled in mid March.   


COMMENTARY 


The announced company's plans were in line with our expectations as we spoke Regal's CFO Denis Rudev in November and he gave us the same guidance. We believe the company will achieve its production target in time as it has enough cash to fi nance its drilling program. We have a POSITIVE outlook for the company. '

[j drama] 21/2/2012 23:03

Another day of mostly sells but no fall off in the share price.

[j drama] 20/2/2012 22:46

Strange that Rudev has resigned, he was due to present at Ukrainian conference next week.

New non exec is a heavy weight investment banker, this is previous company.

Consoris Capital is an investment banking company, specializing in financing, merger and acquisition services for Ukrainian and CIS companies, as well as advisory services for investors and businesses.

Consoris Capital is a US based company with most of our team members permanently located in Eastern Europe.
 
Our management team has more than 50 years of combined experience in financial sector, including investment banking, asset & wealth management, insurance and risk management, business restructuring and performance improvement, of which 35 have been in Eastern Europe.

So why replace Rudev?
Apart from misconduct it would have to be for his specialist skills.
Theories?
RPT are looking at raising capital or involved in an acquisition / merger.

[volkswag] 20/2/2012 20:56

RNS out this afternoon - Directorate change:

'the Company has appointed Sergii Glazunov as a Non-Executive Director of the Company with immediate effect in place of Denis Rudev, who has resigned from the Board with immediate effect'.

Mr Glazunov is a Ukrainian national and is currently the Director of Corporate Development at JSC Smart'

[j drama] 18/2/2012 00:37

146K volume, all sells on Friday & yet share price didn't dive as much as it has in the past.
Correct mid price still above 30p (29.75p-31.5p=30.625p).
IMO there is a buyer behind the scenes picking up small chucks of shares.

[j drama] 17/2/2012 01:49

Spec
I can see them releasing a RNS stating the first well is spud & production for Feb was x boepd but probably not a lot more while workovers are still being carried out. The very harsh weather has had to have had an impact on their scheduled work plans.
Production levels will have been reduced while workovers are carried out but hopefully will be higher as each are completed!

IMO we are in a crucial operational period with regard to the future of the company. If the workovers don't at least increase production to 2,500 boepd then it really is questionable whether the licences are ever going to deliver.

[j drama] 16/2/2012 07:12

Spec
It seems RPT is not the only company operating in the Ukraine that has problems with equipment getting stuck in their wells.
From CAD RNS today

Cadogan advises that it has decided to temporarily suspend operations on its
Pokroskvoe 2a well. This well has been drilled to 4,783 metres into the V22
level of the Upper Visean that exhibited gas shows during drilling and led to a
7" liner being run in and cemented. The logs acquired indicated the presence of
hydrocarbons in the lower part of the well and a decision was taken to deepen
the well by approximately 350 metres. Whilst pulling out of the hole the
running string became stuck and subsequent fishing operations with the limited
equipment available in country has not allowed the running tool to be
recovered. Management will evaluate the most effective option, amongst those
available, to re-enter the well.

[j drama] 13/2/2012 08:27

Spread back out to 2p.
I wonder what all those trades last week were all about?
Time to go back to sleep...

[volkswag] 10/2/2012 09:40

The buy of 14835 at 8.58 has now been cancelled out by a trade for a similar amount of shares at 9.31. So in theory no change but no doubt the share price will be influenced to indicate the share price is down!

[volkswag] 10/2/2012 09:29

Yes the wide spread doesn't help the liquidity in these shares, that said atleast we have registered a buy todate.

[j drama] 10/2/2012 09:08

We seem to have stalled again, spread out to 1.5p.

[buy and hold] 10/2/2012 05:02

The answer is at Bermuda coast!

[j drama] 09/2/2012 22:48

Just had a thought.
The list on the company website is as at the accounting date & will be used in the final accounts released by the end of June. This list has to be checked with the registrar in order to be factually correct, as opposed to the rest of the year when it is just a sum of the RNS releases.
Therefore, unless they've not checked it yet, it has to be right & therefore the Renaissance RNS is current.

This then prompts the questions who did they sell to & why sell out now?
I just hope Investohills weren't the buyer.

[j drama] 09/2/2012 21:50

Volkswag
I am not going to labour the point but that list of significant holders on the RPT website could not have been right IMO for the reason I posted above.
This list is only updated by the company when they are officially notified by the holder of a change, this is why last year it added up to over 100%.

If it was right then it raises the question of who bought 15.5m shares?

The more important question is where has all the current liquidity come from because it can't be from a sales of 15.5m shares because the share price would have bombed?
And why buyers have returned?

[volkswag] 09/2/2012 14:07

I note your comments about Renaissance's undertaking but the RNS relates to a transaction dated 7th February 2012. That said there have been a number of changes since the Energees offer, last year, hence for clarification I accessed Regal Petroleum plc's investor relations site to view the status of substantial shareholdings - extract follows:

'The following parties had interests of greater than 3% of the issued share capital of the Company as at 31 December 2011:

Substantial Shareholder Number of shares % of issued ordinary share capital
Energees Management Ltd 173,128,587 54.00
Curzon Alternative Investments Ltd - CIS Natural Resources Fund 51,939,083 16.20
Investohills Enterprises Ltd 24,385,489 7.61
Pope Asset Management 24,204,574 7.55
Renaissance Securities (Cyprus) Limited 19,254,083 6.00
Platforma Capital Ltd 13,530,303 4.22

So far as the Company is aware the percentage of the issued share capital that is not in public hands is 70.19%.'

[j drama] 09/2/2012 08:02

No it can't.
Renaissance gave an irrevocable undertaking to pledge their shares to the Energees offer in RNS dated 7th Feb 2011 (Energees revised offer RNS) as part of the Energees 55%.

[volkswag] 09/2/2012 07:27

I think this relates to a more recent transaction eg 7th February when Renaissance's holdings threshold reduced from 6% to 5%?

[j drama] 09/2/2012 05:42

They took their time, that reduction is from when they accepted the Energees offer nearly a year ago!

[volkswag] 08/2/2012 20:55

RNS out at 15.30 - holdings in company re Renaissance