Valiant Petroleum Share Discussion Threads

[hpcg] 22/2/2013 12:04

I thought the min this would go to is 360 but it does appear to have more legs down though I'd be really quite surprised at below 300. I didn't complete my buys at the 360 level so in theory I can take some more here and not worry about it. I'm also not sure what to do in relation to Timmon. I can imagine there being a complete over-reaction for a duster and minimal reaction to a positive result and so that countenances restraint. On the other hand it only takes someone with a bit of money to show a bit of interest and my chance has gone. Ho hum, what to do. If I might ask Ed, what does L2 look like on the bid?

[bomfin] 22/2/2013 11:51

Double dozes of squeezing. oops.

[bomfin] 22/2/2013 11:51

Feels a bit like a squeeze them out and hang the out to dry Friday before all the positive news on the Monday. :-)

[bomfin] 22/2/2013 11:49

thanks for that Ed. gl to all holders. I will buy more if it goes lower.

[utrecht_00] 22/2/2013 11:44

under 3 pounds would be quite something. Possibly the most undervalue company out there? It would also be a shocking abdication of duty from the current BOD to allow that to happen.

[ed 123] 22/2/2013 11:31

The answer is, of course, that they could give an update, without compromising any negotiations. For instance there is production information available from Enquest and Antrim that VPP could rns.

The problem I have is that the private investors are probably the only group outside of the information loop. The directors of VPP, the parties they are talking to and the major shareholders will all be insiders to what is going on.

Being outside the loop, though, can have its advantages. The directors of VPP went in the market and bought shares at various prices above the current level (344p). Perhaps they would be buying now, if regulation permitted?

I have been buying on the way down and I'm keeping some powder dry to buy at under 300p.

For the past 3 weeks (ie. after the Fionn drop) the share price has been falling at about 10p per week.

If it takes more than another 4 weeks to get the review result out, then I could be in for more of these in the 290's.

I recall my buying shares in Nautical Petroleum down to about 270p, then smiling when the 450p recommended offer was announced. Maybe I'll be lucky again?

[bomfin] 22/2/2013 10:57

What's the story here?

When was the last time anybody at VPP said anything positive about this company.
Is there no update that they can give that can help the share price or even create a bit of interest?

[utrecht_00] 21/2/2013 12:27

Ed, its at least a 180 day drill then there's transportation to get there and who knows how long N. Uist will take.

I would think drilling HC is off for this year.

Yep as its an ice classified ship I would think its there to shepherd icebergs.

Maybe HC will be addressed in the Strat Review. Farm it out for a free carry would be a great result. Maybe thats whats needed to boost the share price price.

[ed 123] 21/2/2013 12:03

Thanks, utrecht_00.

The SC may be going to drill the water injectors at the Hibernia field?



Reservoir at 3700 metres. Water depth only 80 metres? Using drillship to dodge the icebergs? (I'm guessing.)

Valiant's slot may be a year off (who knows?) or may be lost/need renegotiating?

As was said earlier, it's looking possible that Valiant's review and operational update and full year results may come out together.

340's next week? :-(

[utrecht_00] 21/2/2013 11:15

Ed- Stena Carron off to Newfoundland for Chevron.

[rogerlin] 21/2/2013 08:33

There is a good diagram of PL506 on the Rocksource website. No scale on that but I think it is a good 80km north east of Johan Sverdrup. The Rocksource details say that it is "stratigraphically divided and comprise the stratigraphy above base Cretaceous".

[ohisay] 21/2/2013 02:43

Good spot Bomfin.

[frazboy] 20/2/2013 23:41

can someone please make sure that '10EN' gets moderated

[bomfin] 20/2/2013 17:29

storbarden next month.

[ohisay] 20/2/2013 15:28

OK Ed thanks for that.

[ed 123] 20/2/2013 15:07

Who gets the Stena Carron after North Uist is completed?

Anyone know?

ohisay.

BP is currently drilling North Uist, using the Stena Carron, sub-let by Chevron.

Valiant's slot for the drilling of Handcross is also a sub-let from Chevron.

Valiant's booking with Chevron may be conditional on other wells being completed in time.

[pyemckay] 20/2/2013 14:47

agreed. not convinced that the review will yield anything. undervalued anyway

[utrecht_00] 20/2/2013 14:44

maybe thats seen as a good thing now?

[ohisay] 20/2/2013 14:22

Well as Utrecht says looks like HC isn't going to happen anytime soon.

[pyemckay] 20/2/2013 11:31

maybe im a bit edgy having invested a bit more of my portfolio than i had planned. On paper, valiant is throwing off cash and should have attracted a bid for their 10k bopd production(approx).

going for handcross is a huge decision to do it alone. I hope we get at least half of it farmed out.

[ohisay] 20/2/2013 11:04

There'd be a few members of the BOD who'd be a bit unhappy then.



I just don't see the worry here - NPE went out of the blue to Cairn for a 50% premium on the closing price.

[pyemckay] 20/2/2013 10:37

wont be surprised if the review is just added into rns of results in march.

valiant are not interested in small shareholders. maybe thats the plan to drive price down and soften us up for a 450p offer. that wouldnt surprise me.

[frazboy] 20/2/2013 10:27

i've been out of town for a few days and have just caught up with events and posts on the board, there have been some good ones. in particular, utrecht thanks for the notification on the spud date for Handcross, that changes things and gives lots more time for cash pile building and farm-in deals

and Ed, thanks for the update from the company. great that they replied.

watching and waiting...