Cadogan Energy Solutions Share Discussion Threads

[targatarga] 03/6/2019 15:36

Next question is how long before next news... tia

[itsriskythat] 01/6/2019 07:42

2brums79, thanks a lot for your work on the figures for 'revenues less direct taxes/royalties'.

Now with a guess for the future operating costs and also the G&A, it would be possible to estimate the 2019 cashflow from operations.

Wouldn't you agree that the board salaries are too high for a company with this level of production?

[spangle93] 01/6/2019 06:41

Brum*2 - I listened to the interview, but I don't think my connection was too good, because it was quite hard for me to hear him clearly. Nonetheless, he does seem very positive about the well, and indeed, it's important IMHO that they took all the measurements that he outlined because now they have real data with which to understand how the field behaves.

Does granting of the 20-year production licence have any direct material basis, e.g. like in Kaz, once a pilot test is complete you can apply for an international licence which would double the price per bbl received? Or does it just give more confidence to spend money.

[brumbrum79] 31/5/2019 00:07

Hi Spangle!
It's possible.


Something is moving around Astro-Invest Ukraine..

ТОВ; "АСi8;РО 30;НВ
045;СТ- УКР;АЇi3;А"
Кар;ткk2; ком;паl5;ії
зар;еєl9;тр 86;ва
085;о

38100, Пол;таk4;сь 82;а обл;., Зін;ькo0;вс00;ки
081; рай;он, міс;то Зін;ькo0;в, ВУЛ;ИЦk1; ПОГ;РІh1;НЯ 50;А, буд;инl6;к 5 А, ква;ртl0;ра 2

06.10 Доб;увk2;нн03; сир;ої наф;ти
Оно;влk7;но від; 28 тра;внn3; 2019 р.

Кер;івl5;иц 90;во

Кад;огk2;н Пір;кіk4;сь 82;е Б . В ., Зас;ноk4;ни 82;
Ори;гіl5;ал зап;исm1; з реє;стl8;у: КАД;ОГh0;Н ПІР;КІh2;СЬ 50;Е Б.В., роз;міl8; вне;скm1; до ста;туm0;но 75;о фон;ду - 39515000.00 грн;.
Кул;ібk2;ба Оле;г Юрі;йоk4;ич, Гол;овk2;

Оно;влk7;но від; 28 тра;внn3; 2019 р.

"ASTROINVEST-UKRAINE" LLC

Company card
is registered

38100, Poltava region, Zinkivsky district, Zinkiv city, VULTSYA POGRYBNYKA, house 5 A, apartment 2

06.10 Extraction of crude oil
Updated May 28, 2019

Leadership

Cadogan Pirkivske B. V., Founder
Original record of the register:
KADOGAN PIRKIVSKE BV, the amount of contribution to the authorized capital - 39515000.00 UAH. (100%)
Kulibaba Oleg Yuriyovych, Chairman

Updated May 28, 2019

Previous situation (until 7 May 2019)

Кер;івl5;ик Зас;ноk4;ни 82; Бен;ефo0;ці 72;рн
080;й вла;снl0;к
Кул;ібk2;ба Оле;г Юрі;йоk4;ич

Кад;огk2;н Пір;кіk4;сь 82;е Б . В .
Ори;гіl5;ал зап;исm1; з реє;стl8;у: КАД;ОГh0;Н ПІР;КІh2;СЬ 50;Е Б.В., роз;міl8; вне;скm1; до ста;туm0;но 75;о фон;ду - 39511048.50 грн;. (99,99%)

укр;аїl5;а
Ори;гіl5;ал зап;исm1; з реє;стl8;у: ТОВ;АРh8;СТ 42;О З ОБМ;ЕЖh5;НО 70; ВІД;ПОh2;ІД 40;ЛЬ
053;ІСТЮ "КАh4;ОГ 40;Н УКР;АЇi3;А", роз;міl8; вне;скm1; до ста;туm0;но 75;о фон;ду - 3951.50 грн;. (0,01%)

Manager Founder Beneficiary owner
Kulibaba Oleg Yuriyovych

Cadogan Pirkivske B. In
Original record of the register:
KADOGAN PIRKIVSKE BV, the amount of contribution to the authorized fund - 39511048.50 UAH.

Ukraine
The original entry from the register:
"KADOGAN UKRAINE" LIMITED LIABILITY COMPANY, the amount of the contribution to the authorized capital is UAH 3951.50.

Link: hxxps://ring.org.ua/edr/uk/company/31389304
_______________________________________________________________________

Cadogan Ukraine recently sold its Astro-Invest Ukraine partecipation (0,01%) to Cadogan Pirkivske B.V. (a wholly-entity of Cadogan Petroleum Holding B.V.).

The first step is ongoing... and the next... "maybe" Burisma Holding/Burisma Group?!? ;)

[spangle93] 30/5/2019 22:57

Thanks Brum Brum - that wasn't on the website when I posted here 24 hours ago... oo-er do you think this board is read...

[brumbrum79] 30/5/2019 20:35

link:

Published online Cadogan Petroleum's Presentation Carpathian Oil & Gas Conference (L'Viv - 23 May 2019)

Cadogan Petroleum’s future in L’viv Oblast Activity:

Produce Monastyretska license
➤ drill production wells
➤ build an oil center
➤ implement water injection

Appraise Bitlyanska license
➤ Drill HPHT well

Impact for the L'viv Oblast:
➤ Up to UAH 150 million of subsoil tax (if 5% is confirmed)
➤ Up to UAH 10 million per year of turn-over for local contractors
➤ Up to 25 direct jobs
➤ Social projects in the surrounding villages

______________________________________


Imho, now Cadogan E&P Team will integrate the information gathered from the Blazh-10 well into the pre-drill geological model, in order to assess (and maybe update) reserves and resources of the Monastyretska license and decide on the best way forward to develop further Oil production in the Monastyretska field.
Next step... Spud/Drill a new Oil well in the Monastyretska field.. My time-line, maybe in the last quarter of 2019.

After today news about Blazh-10 well production in natural flow it can say Cadogan's E&P Bu is generating firmly Higher Revenues (on monthly basis =/>625/650K Usd - Brent price discount estimated to 20 Usd/bbl) and Positive Operating Cash Flow.

ByeBye

[rizler] 30/5/2019 15:47

Surprised back to 0!

[targatarga] 30/5/2019 10:52

Looks like the traders are selling again. Hope the next news is positive!

[nick rubens] 30/5/2019 08:46

spangle93 Yes you are right, I did 275 x 7 x 365. Going senile here.

Yes $6.825m is the correct figure. Great revenue for such a small cap and loaded with cash. I think it's time they gave shareholders cashback unless they have some big drill plans for it.

[spangle93] 30/5/2019 08:38

Not in Excel, it isn't ;-)

275*365*68 (ignoring downtime and operations costs and discount to Brent) = $6.825MM

[nick rubens] 30/5/2019 08:22

An extra 275bpd @ $68 is additional revenue of $47.8m a year.

Lets have a special dividend please.

[itsriskythat] 30/5/2019 07:38

Next presentation will be at the AGM in London on 19th June

[spangle93] 30/5/2019 07:21

Ha ha - when I said "soon", I didn't expect it to be within 7 hours. ;-)



Overall daily flow is lower than the previous max on test production, but they believe it's sustainable at this rate, and moreover there are no barriers, so it shouldn't die in a couple of months.

Next step would be to hear what they plan to do with the field next - maybe sidetrack one of the weaker wells updip? But with so little information on the field, it's just speculation as to what they might choose to do.

But I don't suppose I'll hear an answer by 1pm this time ;-)

[diesel] 30/5/2019 07:20

There you go Spangle, 275bopd under natural flow, sounds good to me, should see this back up to recent highs.

[spangle93] 30/5/2019 00:53

Thanks for sharing your research brum brum

Would have been interesting if CAD had put their presentation at the conference on their website, but perhaps that's not allowed under conference terms. The last presentation there is 2017.

I hope we'd hear more about Blazh-10 soon, as it's been a month since the production update, but maybe the testing and sampling isn't price sensitive news

[nick rubens] 29/5/2019 20:18

Cadogan’s current production is around 600 bpd of oil, it's effectively tripled so far with the well just drilled.
More news on the productivity index coming. It's always a cheap share, plenty of cash and I wonder when the market will take some interest here again.

[brumbrum79] 29/5/2019 17:43

Another step in the partnership with Proger spa

Chicco Testa Presidente di Proger


Roma – Chicco Testa è stato nominato Presidente di Proger.
La nomina perfeziona l’accordo strategico tra Proger e la Cadogan Petroleum Holdings BV – controllata al 100% dalla Cadogan Petroleum PLC, società di oil & gas quotata alla Borsa di Londra – inserendosi nel piano di ulteriore sviluppo dell’azienda, rafforzato dal recente aumento di capitale.

Chicco Testa President of Proger


Rome - Chicco Testa has been appointed President of Proger.
The appointment completes the strategic agreement between Proger and Cadogan Petroleum Holdings BV - a wholly-owned subsidiary of Cadogan Petroleum PLC, an oil & gas company listed on the London Stock Exchange - as part of the company's plan for further development, reinforced by the recent capital increase.

Translated with www.DeepL.com/Translator

Link: hxxp://www.proger.it/chicco-testa-nominato-presidente-di-proger/

[diesel] 17/5/2019 09:19

Think you're justified TT, this is about fairly priced based on outputs so far achieved, but that's not counting their cash pile, I can only think they are overlooked because of the territory in which they operate!