Regal Petroleum Share Discussion Threads

[scorpione] 24/9/2014 09:30

I hope you are wrong!!

[j drama] 24/9/2014 00:23

Based on past performance I don't think the fraccing or workovers will have any impact on production volumes.

[nobull] 23/9/2014 09:59

Safe but boring compared with FRR. Strong balance sheet and you actually make a profit after tax (no such luxury at FRR and sky high debt). What impact do you expect the fraccing and the workover to have? At best maybe the outlook with the tax increases is for revenues to be static in H2? Is that correct? Just curious. I am in FRR, which has no proven business model by comparison with your company. Just curious as both companies have similar mkt. cap. but maybe quite different enterprise values: your company, after deducting the cash from the market cap., has a very small enterprise value, where as FRR's (because of its debt) is about $80m. Any thoughts? TIA.

[soggy] 23/9/2014 09:16

I'm wondering what those figures would have been like if it wasn't Ukraine - if there was a steady gas price and consistent taxes...

[buy and hold] 23/9/2014 08:49

IMO,after long time ,we have some "positive" news from Regal.We await the upcoming fracturing...

[j drama] 23/9/2014 07:20

Interim results aren't too bad considering, big hit from tax increases weren't in effect however. Clear message to Ukrainian government, keep the high taxes & we don't invest. Illustrated by delay of spudding new well until 2015 after taxes are due to expire.

[j drama] 22/9/2014 09:30

JKX RNS sending a message to the Ukrainian government.

[stonefold] 08/9/2014 19:38

First online auction at



of autogas concluded on 8th September 2014.

[targatarga] 04/9/2014 08:23

It'll probably carry on for a time yet. Who knows with this market. 7p in a years time?

[dalailama] 04/9/2014 08:09

Half or double - place your bets here!

[deanroberthunt] 02/9/2014 18:53

why do all AIM graphs look like right angled triangle....

[travls] 02/9/2014 18:31

Bust within days I am hearing.

[the troll] 02/9/2014 15:16

how does a company with no 3rd-party debt go 'bust', I'd be interested to know ?

[travls] 02/9/2014 12:58

Bust within days I am hearing.

[jam2day] 28/8/2014 22:07

For those with memories:-

Energean Oil & Gas initiates US$225 million investment programme to grow Greek production to 10,000 bpd by 2016
28 Aug 2014 by Our Oilbarrel Staff

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Energean's new rig Force(2)
Energean's new rig Force(2)
Over the past seven years, Greek E&P Energean Oil & Gas has invested more than US$250 million in the development of the Prinos field in the Gulf of Kavala, earning its operational spurs and building a solid track record as a safe pair of hands in these environmentally-sensitive waters.

The field has to date produced 115 million barrels of oil – almost double initial reserve estimates – and Athens-based Energean this week initiated a US$225 million investment programme to drain more barrels from the field. The aim is to keep the field, which has been producing since the late 1970s, in production for at least another 15 years.

The new investment will tap another 30 million barrels from Prinos and its satellites, Prinos North and Epsilon, to lift production from around 2,000 bpd to 10,000 bpd by 2016. Fifteen wells will be drilled and two new unmanned platforms installed at Prinos North and Epsilon, tied back to Energean's existing infrastructure.

The company has bought the Glen Esk rig from KCA Deutag, to be renamed the Energean Force, and will use its own drilling crews, significantly reducing drilling costs and giving Energean operational flexibility to maximise recovery of the reserves from the Prinos Basin. Drilling with the new rig will get underway in December.

Chairman and CEO Mathios Rigas said the field, the sole producing field in the country, was “entering a new era”. This is, after all, an asset that will be a familiar name to many oilbarrel.com readers. Energean bought its Gulf of Kavala licences from a distressed Regal Petroleum in 2007 and showed how the acreage should be managed: in contrast to the Regal debacle, privately-owned Energean has delivered steady growth in production and reserves over the past seven years.

“Energean investments and scientific surveys have proven that there is significant scope for extracting additional production through the drilling of new wells and through the extended use of enhanced oil recovery techniques, at a time during which the Greek hydrocarbon sector is set to play a significant role in the attempt to lead Greece’s economy back to growth again, after a seven-year period of recession,” said Rigas, who has a background in investment banking and an MSc in petroleum engineering from Imperial College.

This is a low-risk strategy: the company is targeting known oil in shallow waters, close to existing infrastructure, allowing it to monetise value very quickly. And the development plan is within the company's comfort zone: the new US$225 million programme is similar to the amounts already invested, it's just an acceleration of effort reflecting the company's increased operational and financial strength (there's cash flow from production and last year Third Point made a US$100 million equity investment).

Further ahead, consideration will be given to a Main Listing in London. For now, those interested in the story should sign up for Oilbarrel.com's next conference on September 25 in London, where Energean will be among the presenting companies.

[stonefold] 21/8/2014 15:23

travls, I assume you're talking about your chest.

How much Regal have knocking about will be revealed in a month - when the interim results are published.

[travls] 13/8/2014 18:36

THIS IS BUST

[stonefold] 13/8/2014 16:56

I think the 'war tax' was the only short term funding option available.
In order to qualify for IMF loans they have to keep the budget deficit within a certain range (4.5 - 5.0 % of GDP)
World bank, EU, EBRD and US loans and general bond issues to the market are all more likely or at better rates if the IMF is kept happy.
Without military action to prevent the spread of armed lawlessness Ukrainian businesses would no doubt be facing a different type of 'tax'.
The government have consulted with the Oil companies over the current tax rise and no doubt will do soon again, but next time I hope that it will be adjusting the tax to increase production.
The sooner peace returns the better for all.

[buywell2] 13/8/2014 16:44

Yes agreed the troll

But if it posts the same set of results this year as last then the cash and reserves will be wiped out at a stroke

[the troll] 13/8/2014 15:28

it's reserves are valued at £43.4m ( 13.5 pps ,) in the 2013 Accounts, IMHO on an eye-wateringly conservative basis.

I've bought £1,600's worth; at least I won't get bored.

[the troll] 13/8/2014 15:12

it hasn't issued any 3rd-party debt, so there's no risk of administration ( who would appoint them ? ) or going 'bust'.

worst that could happen ( IMHO ) is a total shutdown, followed by an indeterminate period of C & M ?