Civitas Social Housing Share Discussion Threads

[geoffcapes] 15/10/2007 13:26

Blimey just over 100 bopd from 9 wells!

No more Beverly Hillybilly comments now eh?

[markinthepark] 15/10/2007 10:04

Same old CSH then........the only ray of sunshine here for shareholders would be a takeover bid but why would anyone bother with such a tin pot outfit as this?

[enamel] 15/10/2007 09:21

Todays RNS is the usual message of a ray of hope, but no substance. Meanwhile directors continue to take their renumeration. Nice if you can get it.

[spaceparallax] 15/10/2007 09:05

Steady production is okay, but unless we achieve significant increases we'll continue to be weighed down by the obligation to satisfy local, low price commitments rather than be able to export.

[markinthepark] 03/10/2007 13:46

Another new low for these by the look of things......not surprised though.....I wonder how much they will be offering new shares for when they come out with the begging bowl here? 50% discount to 2p+ perhaps? Bet those large shareholders at Goldmans, JP etc can't wait for that......

[stuart14] 28/9/2007 14:01

No. Wish I never had as well. Don't hold anymore though,

[markinthepark] 28/9/2007 13:59

Maybe but when it comes the "nationalisation of resources"..the govt would be more inclined to take over the tiddlers first who couldn't really take any effective action to stop it....and of course, CSH is going to need to raise cash pretty soon....would you invest in the company and its management that, apart from failing repeatedly to deliver, might also get booted out of the country at any time ? Being on AIM certainly won't count for toffee....

[stuart14] 28/9/2007 13:54

Not sure the Gov would care about CSH. Not sure anyone would

[markinthepark] 28/9/2007 13:46

and this could be the final nail in the CSH coffin by the look of things.......



Kazakhstan's parliament has passed a law allowing the government to break contracts with foreign companies.

The law still needs to be ratified by the president. But it comes at a time when foreign investors in the oil rich central Asian republic are already feeling uneasy.

There is currently a dispute between the government and a consortium of Western oil companies over the massive Kashagan oilfield.

In an interview with the BBC, the country's prime minister Karim Masimov said that his government will take the consortium to arbitration, if the sides don't find a speedy solution to the dispute.

Kashagan is the biggest oilfield discovered anywhere in the world in the past three decades.

A month ago, the Kazakh government ordered Agip KCO, the Italian operator of the project, to halt work at Kashagan and began renegotiating terms of the contract they signed back in 2001.

Asked why the government was not willing to honour the contract, Mr Masimov said the agreement should have been respected by all sides and that the consortium of companies, led by Italy's Eni, that breached the agreement.

'Plan B'

The prime minister accused the consortium, which includes Exxon Mobil and Royal Dutch Shell, of delaying production and violating a number of environmental and tax regulations.

"We want our national company to be a co-operator on this project and if we don't find an agreement with a potential consortium, we have a plan B," the prime minister warned.

"Everyone involved in the negotiation knows exactly what that plan B is, but its too early for me to announce it," he added.

He said international arbitration was definitely a possibility.

Resource nationalism

In the meantime, the parliament is in the process of adopting a law that would make it easier for the state to terminate or change contracts with foreign investors.

For many, all of this is part of an emerging regional trend towards resource nationalism.

But Mr Masimov dismissed comparisons between Kazakhstan and Russia, where BP recently faced a similar problem.

"Russia is Russia and it's not my story, but I can say for sure that in Kazakhstan the dispute over Kashagan has nothing to do with nationalisation of resources," Mr Masimov said.

He added that it was a one-off case and that investors should not see it as the start of a trend.

"Chevron is working here without any problems," he said.

"I recently met with the president of Chevron and chief executive of British Gas, and we talked and we have no problem with them."

"But I told them, if they don't fulfil what they promised we will have questions for them too."

Many Western businessmen here in Kazakhstan say they have mixed feelings about the dispute over Kashagan and the consequences it will have for the investment climate.

Many of them say that the government has good reasons to question the management of the project and delays in production.

But at the same time, they worry that this oil rich country, which used to be so open to western investment, is becoming more assertive and more difficult to deal with.

[grlz] 28/9/2007 12:24

Previous statement was exporting by the 3rd quarter but they didn't get the required reporting prepared until Aug and it still needs covering off by the Ministry - those same guys we are led to believe have been umming and erring about the extension for what seems like a hundred years

Speaking of which, not one mention just vague replacement talk of "other oil fields" so I guess we can assume the extension is now dead.

How the heck are they going to restart the drilling programme as the Cash position looks shakey, even cutting the HUGE+CRAZY overhead won't halt the need for a placing if that idea is to fly.

2p by xmas, maybe tenths of penny thereafter

DYO Math

[spaceparallax] 28/9/2007 09:16

Poor figures - how on earth have we managed to go from small profit to significant loss. For approx the same level of production, the costa are more than doubled and the admin expenses are greater. It seems inconceivable that we can be costing around 1.25M to yield approx 0.6M revenue. What's more at this rate, the cash will be exhausted in 6 months.

[reggie2004] 28/9/2007 08:00

More on less and noticeably an absense of news on the extension...... Has MM dropped it?

I will stick to my decision date of January and if no news he can stick it.

Regards Reg

[n1ckb] 27/9/2007 11:48

This was one of my first major buys and i keep it on my watchlist just to remind me how things can go wrong.I did make a profit @24p (could have sold higher but didn't)due to averaging down.Its a shame how people get dragged in by spin,but i guess it's not the first time or the last.
good luck all holders.

[markinthepark] 27/9/2007 11:16

You would have thought the company would have issued an update on this by now?

"In April 2007, Caspian Holdings announced a temporary suspension of its export
license. The Company expects to resume exports during the third quarter of 2007"

[btut] 25/9/2007 21:48

Not long left of the third quarter and still no news...........

[jackmcwrinkle1] 24/9/2007 21:42

Nig

Vav gave similar summaries on the MRP threads recently

Jack

[nigthepig] 24/9/2007 21:32

Hello Vavoom.

You seem to have a more friendly audience over here.
Good unbiased summary at post 360.

[jackmcwrinkle1] 24/9/2007 21:13

Vav

sorry to bombard you with questions but I'd be garteful for your your opinion on CSH

i) when do you think exports will resume?
ii) do you think the extension is ever possible?
iii) is the whole thing a scam or just chancer(s) who were seen coming or a genuine co. which could be turned around?

regards

Jack

[vavoom2] 24/9/2007 18:11

tommo.

Sorry for the late reply.

At the moment MRP is not quite in the same league as CSH but if it does not pull something off soon it could well join CSH

At the moment MRP is a one trick horse with only Orion to keep its head above water.

MRP 's fortunes and share price will now revolve round good news and good news only with any bad news having an adverse effect because of their past history.

Calvin 36-1 still has the ability to effect the share price.

Any more broken promises ( i.e.. not meeting production promises at Orion or a quick fall off in production ) could effect the share price.

Ensight had better confirm soon that they will join MRP in a well at Calvin or again investor confidence will be hit. ( Drilling not before 2008 )

Milford may add a little bit gas.

Australia is pie in the sky and they need to farm down to find partners ( It has been reported by over 90 % )

CBM forget about it for a good while.

MRP have stated that they will concentrate on Calvin therefore their other unproven small assets may not be touched for some time to come.

All in all a bumpy time is on the horizon with maybe gains if they come good with Orion but this could be tempered by bad news on other fronts.

I see a very bumpy time to come or a period of share price stagnation

I certainly do not see anything at the moment that is going to see any spectacular gains

[countbasie1] 21/9/2007 19:28

tommo

don't apologise. I've wanted to ask Vav the same question.

[tommo41] 21/9/2007 19:18

Vav,

Quick question on here away from the likes of IJ, etc. In your honest opinion, can you see MRP turning into a basket case like CSH. Or have they some redeeming prospects in your eyes? Apologies to others for O/T, but I am fed up with the self-righteous gang on the MRP thread who pounce on anybody who dares to communicate with Vav.

[countbasie1] 21/9/2007 18:02

Vav

do you believe them?

[spaceparallax] 21/9/2007 15:03

The quarterly figures