Civitas Social Housing Share Discussion Threads

[english bigblls] 14/2/2007 12:29

Hi nghomi,

You might like SER. It's a similar situation. Current 150bpd and trying to arrange a credit line to allow significant production increases via additional drilling and steaming on its main field. Also has promising CBM acreage and a second, less developed field. c.£5m market cap.

[nghomi] 14/2/2007 12:25

"like everyone else says it is a strange statement given production came back on - hardly material."

Unless, there is a cash flow problem? It is indeed a wierd statement?!

Regardless of the statement, I started liking CSH because
1) it is already producing oil
2) drilling success rate is astounishing
3) Seems CSH has set up the export route

Overal, CSH has set up a successfull little business now. It only need to ramp up the production from 120bpd. It is all about scaling up the business. This is exactly what the mangement have set to achieve.

I am happy to hold and add in the future if it drops further.

[grlz] 14/2/2007 12:07

I think the 150bpd is generous and assumes a dead 96 hour downtime - what is probably more realistic is production came back a few hours into the 5th day - I would stick with the last quarterly number which indicates 125bpd - leasing the generator is an additional cost

like everyone else says it is a strange statement given production came back on - hardly material.

DYOR

[barrywhit] 14/2/2007 11:40

1775,

The only news that will push this forward is the License Extension......imo..
So, perhaps that is on it's long awaited way......

[1775] 14/2/2007 11:20

JP Morgan Chase seem to be convinced - do they know something that we don't?Lets face it 6 million+ shares purchased is a strong vote of confidence regardless of where the shares came from! {Which is another interesting question.}

[vavoom2] 14/2/2007 11:12

Re RNS Today

So now we know what they are producing.

Approx 150 bopd from 10 or 11 wells.

Say Approx 15 bopd from each well.

It's getting worse.

[english bigblls] 14/2/2007 11:10

woodwar,

The £1.6m is turnover, not profit. You need to take off the costs first (£1.4m in last full year)

[spaceparallax] 14/2/2007 11:07

Sadly, CSH do have a very chequered past to overcome - enough to down the share price until continuing evidence of performance becomes sufficient to persuade investors.

[woodwar73] 14/2/2007 11:03

That puts CSH on a PE of 4.1.... surely thats too low?

[nilli] 14/2/2007 10:37

150bopd x 360 = 54000 barrels
say £30/barrel = £1.62M
Not bad eh.

[1775] 14/2/2007 10:33

At £6.7mil. the value of the co.is way undervalued even at 150 bopd. which equates to 54000 barrels per annum at average $55 = income of $2.97million @50%? margin.Then add on new licence/extension,which I reckon will come through soon and we are left with a very solid little co.with little downside relative to the potential upside.

[eggbird] 14/2/2007 09:56

seems a few are taking this as an opportunity to topup. Agree it does reassure the minimum of 150bpd of production

[scsw] 14/2/2007 09:47

I agree that it is rather an odd statement. We know that CSH is a real minnow but to make an announcement that it has lost 4 day's worth of oil is really most peculiar IMO. I suppose it may be because this outage affected all of its production in the field but even so, for 4 days out of a year ?

Anyway, where's Bada, he can quickly calculate the turnover/(profit?) on 150 bopd I'm sure.

[spaceparallax] 14/2/2007 09:23

Agreed, an odd announcement except that it positively highlights the 150BOPD figure C 14K BOPD per quarter.

[woodwar73] 14/2/2007 09:19

Whatever the game, the MMs are in on it..... there is just no reason to mark this down 9% over 600barrels of lost production!

[1775] 14/2/2007 09:12

What's that all about? I can only guess that the company are trying to keep the share price down for whatever reason because that was a totally uncalled for announcement!

[stuart14] 14/2/2007 09:07

Also, pretty much confirmation they're currently producing 150bopd.

[nilip] 14/2/2007 09:02

LOL! - only a 4 day hick-up - hardly worth a sneeze :-)

[r0nro] 13/2/2007 15:52

I couldn't find any mention of a backlog export??

[phillis] 13/2/2007 15:05

One of the reasons sales were so good in Q3 is that a backlog from previous months was also exported/invoiced.

The information is there for you to read in the various RNSs

[spaceparallax] 13/2/2007 15:04

Ron,

What was the date of that article?

[seagreen] 13/2/2007 14:54

Ronro I heard 20p you r broker is deramping you dyor I am looking for 30p by summer

[r0nro] 13/2/2007 11:45

from

Despite workover operations temporarily disrupting some oil flow, the company’s most recent earnings figures stand out. Caspian’s export earnings during the third quarter hit $1.3 million, up from just $0.4 million the previous period. Oil export sales to Primorsk shot up around 200 per cent from 7,200 barrels to 21,600 barrels during the quarter, though shipments to Karsak fell slightly to 17,245 barrels.

Slowly but surely production from Zhengeldy is rising, though the challenge in squeezing oil out of multiple levels from wells in a cost-effective manner is considerable. Zhengeldy may not be the prolific producer investors first hoped for but it still holds the promise to be a solid operating oilfield for Caspian. The sustained drilling work this year should provide a platform for more oil to come next year.

[wstirrup] 13/2/2007 10:53

Well..I guess it depends on what newsflow is in the pipeline that we pbi haven't yet been party to.

BUT, if there is a drilling update and significant improvement in flows due to something that we've done on the ground, then with improvement in the price we receive we should see good cashflow improvements and that will drive sentiment.

Pity I didn't have some spare cash when I needed it to top up... DAMN!!!

W.