Regal Petroleum Share Discussion Threads

[oldtown] 10/1/2014 10:02

i think it's about 16/17p this time around.
Yes i will hold, by the time it's recovered the whole thing changes and the bears become bulls.
I think fair value is way above the share price today, especially when you consider the 25 mill $ in the bank.
I don't see the point in holding a share you hate? It can have a really negative affect on your outlook,plenty of other fish.

edit 11340/65000 = 17.46p and adding

i expect 30p plus in the next few months.

[j drama] 10/1/2014 09:55

Oldtown
What's your average? (Mine's just over 40p).
Referring back to my earlier question, if you get back to breakeven (assuming you're sitting on a loss at the moment) will you sell out or continue to hold?

With the current liquidity it's going to be pretty difficult for me to get out unless there is another offer or a spectacular change in production fortune (causing a lot a buyers to emerge).
I'm hoping A1 get impatient & make Energees an offer they can't refuse.
(One that doesn't involve a machine gun!:) )

One thing's for sure I'm not selling out at these levels, not after all this time.

[j drama] 10/1/2014 09:48

50,000 buy at 14.5p, someone still has faith.
Either that or it's a bet on the latest well.

[oldtown] 10/1/2014 09:47

Well the beauty of the stock market is that very often it's darkest just before the bright sunlight.With all the interest from the Russians,It's no brainer to me but hey each to their own

[j drama] 10/1/2014 09:45

Fortunately Oldtown I bought in post the last dilution (July 09 & after).
Greers mistake IMO was to not ensure that the wells flowed with standard completion techniques before getting in the Saipem rigs.
If he had managed to do this then the $120m p.a would have been a sound strategy (4 wells per year producing 750-1,000 boepd each, do the maths it's a no brainer). Leaving aside the political issues of course.
Greer got the production from around 700boepd to a relatively stable level of around 1,700boepd.
Energees have gone from around 1,700 boepd to 1,250 boepd.


What Energees don't seem to appreciate, it would appear, is that drilling a well & then completing it using established techniques is not enough for success.
Nor do they appear to have the skills to fracc a well either, which took an eternity to get to.

The Russian tortoise appears to have one leg missing as it's going around in circles getting nowhere.

[oldtown] 10/1/2014 09:30

Without personalising the old management to just one person,In my personal opinion,that is so far from realistic it's untrue, the contract cost of those "all singin all dancing" rigs alone nearly bankrupt the company save virtually no success in increasing productions.
Three cash calls, huge dilution, missed production figures,lost drill bits ect ect.
If you don't mind i will just sit back and wait for the Russian tortoise to win the race rather than the high spending regal of old rabbit as so to speak.

[j drama] 10/1/2014 09:25

My assumption was that they had perforated & tested all the levels of B sands on all the wells so far. I didn't think the latest well was any different.

Even you must admit that Greer's track record on wells drilled & production succcess is better than Energees to date?
Energees have failed on every well drilled & worked over to date.

As you've probably guessed I currently have little faith that Energees has what it takes to succeed. If the current well is a dud as well I will be praying that Energees give up & sell out.

[oldtown] 10/1/2014 08:24

"The SV-59 well reached its target depth of 5,470 metres, was completed and is now undergoing initial testing. A number of intervals in the Visean reservoirs ("B-sands") have been perforated and testing is ongoing"

I thought it logical that they would be testing B22 due to the high flow rates last year on that!
Remember B-sand perforations (B20, B22 and B23 layers) are at depths of between 4,800 and 5,250 metres so i think the more appropriate question is why would they not be testing B22 JD??

Loads of negative posters around here, but the funny thing is by large these are the same people putting David up on a pedestal as the new messiah and ramping it at over £1 a few years back.
There is value at this level and considerably more for the ones with the will to see it through.

[j drama] 10/1/2014 02:23

Oldtown
Where did you get that they were going to perforate the B22 reservoir from on the latest well?
I can only find mention of the 'B sands' generic description.
And how do you know that they didn't peforate & test B22 on the last two dud wells?

I'd speculate that the techniques Energees are using are similar to the original one's that Greer used that were suboptimal. Greer then used his 'enhanced technique' that got higher initial flow rates that then later declined.
To get anywhere we need some external experts IMO, if only Energees would swallow their pride & admit that they are out of their depth. Instead they've done the opposite & 'deproved' reserves to basically say 'it's not our fault'.

[soggy] 09/1/2014 21:10

My holding is very small..I stuck a grand on RPT at, wait for it, £1.19! So I've watched it dwindle all the way down. You're right J Drama, if I got to £1.19 I'd be out like a shot.

However, I have pretty wel zero expectation of getting back up to that level or anything like it. Which I guess makes me ask myself, what level would I bail out at?

Effectively I've written them off, and it's only a grand (hah! said he, as if that were nothing!) so I'm just one of those who watches, and hopes...and who knows, maybe one day...

[j drama] 09/1/2014 20:51

Is there anyone left who would actually continue holding RPT if they got back to their break-even point?
I've all but lost all faith in Energees to get the production up to 2,000+ boepd.

[oldtown] 09/1/2014 13:41

Well the SV-59 flow rates should be about due after nearly 2 weeks,I will be very interested in the B-22 Upper Visean reservoir, this is the one that SV-53 flowed at almost 1200 bopd on lasts November drill update(albeit this rate declined heavily in due course).
Simply working on numbers alone and passed errors failures, surely before too long they will have to hit a decent flow, even if it is by accident rather than judgment.

[j drama] 08/1/2014 09:46

Back to where we were before the last RNS.

[officerdigby] 07/1/2014 17:29

1 m buy went down in December.

[jack jebb] 07/1/2014 13:19

L2 looks interesting. 12-13, 520k shares by 40k.

Now why would someone stick up a bid for that size?

[n13518] 07/1/2014 13:07

What has happened to this dog? Only 1000 shares traded and it is up.

[buy and hold] 05/1/2014 10:46

Thanks Beeksy!

[j drama] 05/1/2014 00:31

At least someone's looking at RPT!

[j drama] 03/1/2014 23:01

The RNS has so little detail re the hydraulic fraccing it's difficult to determine what they've done & when.
After carrying out hydraulic fraccing there is a requirement to extract the fluid before the well flows at optimimum levels.
Has all the fluid been extracted?
Who knows!

I can't see A1 just sitting on the sidelines watching this farce forever.
I'm surprised they haven't made a move to get a seat on the BOD.

[travls] 03/1/2014 21:28

J Drama

VOG producing more gas on a daily basis than this shower now.

LOL

No wonder J Drama aka Tarvold has vanished from the VOG thread.

[n13518] 03/1/2014 15:20

Could these be deliberate attempts to drive the price down even further so the company can be taken into private hands at a knock down price? I wouldn't put it past these lot. Or maybe they are just useless. I will rather end up with nothing then let crooks get away with it.

[j drama] 03/1/2014 08:22

Looks like you were right now 10p-12.5p.
Just a matter of whether any trades go through.

[j drama] 03/1/2014 08:02

I'm not so sure, no improvement was factored in IMO.
Plus the PIs left are so underwater there's no point in selling now!

I wonder what A1 make of today's announcement?
I can't see them being passive for much longer based upon the cryptic message in the recent Energees interview re things taking time that was obviously aimed at A1.