Civitas Social Housing Share Discussion Threads

[stefield] 05/12/2007 21:50

volsung
best to open a spreadbet account, then you can put 700k in each company !
:)

[stuart14] 05/12/2007 18:56

No. Not wise at all.

Still it in a high interest bank account, get £2000 per month interest. Easy money

Although suspect you are joking anyway

[volsung] 05/12/2007 18:55

I have just sold my house for £350k. I am thinking of putting half in here and half in MRP. Am I wise?

[penny9] 05/12/2007 18:48

Any Jump Leads ?

[penny9] 21/11/2007 13:52

dometheone
I will have a small bet, just in case your right !
P9

[penny9] 19/11/2007 21:36

Wont be seeing you again then etacarine cheerio !

[etacarinae] 19/11/2007 18:47

I thought about buying in on this at 50, then at 20, then at 10, then at 5, think I shall wait until 1p and then buy a few as lucky did money.

[domtheone] 14/11/2007 22:02

Best think the illustrious leader could do is fall down a well.

Probably the best thing for CSH shareholders

[tonester30ccfc] 13/11/2007 09:56

More spin from your illustrious leader


13.11.2007
Po Valley Energy Takes Another Step Forward In Long March Towards First Production In Northern Italy
Investors in Po Valley Energy, which takes its name from the gas-rich basin of northern Italy, have become rather well acquainted with the processes and procedures of the Italian regulatory authorities. As oilbarrel.com noted last month, it is the dilatory workings of the energy ministry and its regional outposts that have stalled progress on the ASX-listed firm's three gas developments in the Po Valley and contributed to the downward drift in its share price as it became increasingly clear those developments would not come onstream this year.

Now, however, an important step forward has been taken with the preliminary award of production concessions for the Sillaro and Castello gas fields. The full grant of the production concessions remains subject to environmental approval – this is expected from the regional authorities later this month, with the full production concessions coming though in January 2008. This would put the company on track for first gas in the summer of 2008.

It seems to have been a long journey to get to this point – at the time of its 2004 IPO the company was gunning for first production by December 2005 - but even so Po Valley is cheering progress to date. "Po Valley Energy is the first of the new entrants since the deregulation in 1997 that have been granted preliminary award of a production concession," said CEO Michael Masterman, who has often said that patience is a virtue given the "relatively glacial process" of Italian bureaucracy.

Masterman must have plenty of that virtue for this week Po Valley applied for its first offshore licence in Italy. Po Valley has applied for a 526 sq km oil and gas licence in the Adriatic Sea, some 50 km offshore from Po Valley's main operating base in northern Italy. A map of these concessions reveals the company is building a substantial footprint in the Po Valley, with its concessions running along a northwest to southeast trend that stretches from Milan to Bologna and now extends offshore. Masterman said the gas opportunities in the Northern Adriatic are larger than those onshore (where existing production infrastructure, high gas prices and clean gas mean even accumulations of just 5 billion cubic feet can be economic).

As with the onshore, the company is targeting acreage once held by former state monopoly ENI. The new licence application is home to three gas targets that were successfully drilled but undeveloped by ENI in the 1990s. Po Valley will buy ENI's former 3D seismic dataset, which was acquired in the 1980s and 1990s. It expects this to highlight targets with recoverable reserves of around 45 billion cubic feet.

The company's application has been confirmed by the ministry and there is one competing applicant for the same licence: the application will be reviewed at the next Hydrocarbon Commission meeting where it is anticipated that a "preliminary award" (subject to environmental clearance) will be made to the successful applicant. The company, perhaps wisely, set out no timetable for next steps: as Masterman pointed out, "it's early days yet".

Po Valley Energy had, of course, hoped to be in receipt of maiden production from its three onshore discoveries by now. It has drilled three discoveries, Sillaro, Castello and Sant'Alberto, with 2P reserves of 105 billion cubic feet of gas and a 3P number of 130 bcf. It has agreed pipeline connections and has been amassing long lead items, like production casing. Last month it announced the award of an A$9.6 million contract to Bresica-based SEMAT Spa for the installation of the surface production plant for the Castello and Sillaro gas wells.

Sillaro is the jewel in the crown, with strong flow rates and good pressure recovery: Po Valley is targeting initial production of 5.4 million cubic feet per day. Castello (which used to be known as Vitalba) is a small field and will be a one-well development, producing 2.8 million cf/d, after which it will be converted into a storage facility. The company is also planning to develop the small Sant'Alberto accumulation, which could produce some 0.9 million cf/d.

Castello, developed at a cost of €2.7 million, will be the first onstream with the €3.3 million two-well Sillaro development onstream next. The low capital costs of the development reflected the "very high quality of the gas and the good reservoir pressures". Once onstream, the three fields are due to produce 9 million cf/d, which should generate annualized revenues of A$33 million when, of course, those all-important final production permits are finally issued.

[relishing] 12/11/2007 17:54

Watching a few (BOR, DES, FOGL, RKH). One concern is that the Argentinians are claiming they own the rights to the same oil so could be some political machinations required before the path ahead for these companies becomes more clear.

[wstirrup] 12/11/2007 17:51

Anyone here into southern atlantic oil explorers? (several names)

I ask because the Falklands reputedly has about 60billion barrels under its sea-floor. Providing you don't mind getting cold and wet. Production costs because of that will be steep. How steep will depend on several factors, but with the oil price at just shy of $100 and likely to be in treble figures within 12months, any gushers should be relatively profitable.

It would be nice to get some meat on the bones of CSH to be able to workout what medium term prospects are. I agree with many on this board that lack of accurate information is currently driving sentiment and that aint good.

W.

[penny9] 09/11/2007 08:22

markinthepark
thanks done. EEL worth a look @12.5p
P9

[markinthepark] 08/11/2007 23:59

P9,

I think SER is still the best bet now.......

[penny9] 08/11/2007 18:38

All I ever do on AIM shares !
P9

[domtheone] 08/11/2007 18:34

Directors of PET not much better than CSH.

Shat on one of their other companies (PRE) for year after year.

Pray the same don't happen with PET..

[penny9] 08/11/2007 18:11

jack
yes i dropped approx £xxxk very quickly, However that is one share I will not sell,so although painful, no harm done in the long term. Looking to hold it for a further 3 years.
Any views ?
P9

[jackmcwrinkle] 08/11/2007 16:07

Penny

Did you ride the Dec2004 debacle with PET?

Jack

[penny9] 08/11/2007 12:19

relishing
Owned PET for a very exhausting 4 years, very exciting from here on in, have a look wont be dissapionted
P9

[relishing] 08/11/2007 12:04

Thanks Penny. Expecting them to rise on news of drilling commencement which could/should be any day.

[penny9] 08/11/2007 12:03

relishing
have had on my watch for a couple of years will be buying with some of csh uplift.
PCI, & CMR, current levels are worth a look also
thanks.
P9

[relishing] 08/11/2007 11:48

Penny9,

Out of interest have you looked at SER?

[p@] 08/11/2007 11:48

That looks better!Buyer returns.