Share Name Share Symbol Market Type Share ISIN Share Description
Cms Webview LSE:CWV London Ordinary Share GB0009580027 ORD 0.2P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 0.25p 0.00p 0.00p - - - 0 06:40:20
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Media - - - - 0.23

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Up 40% since 12th Jan update: TSX-V: CWV: Crown Point Energy Inc. (“Crown Point” or the “Company”;) today provided an update of its SM x-1001 discovery well in Tierra del Fuego (net working interest 25.78%). As previously reported, the well was shut in at the end of September to install recorders and production facilities. Long term production testing from the upper Tobífera formation began on October 10 and between October 10 and December 31, 2017, the well produced a total of 18,268 cubic meters (114,905 barrels) of 35 API gravity oil (gross), at an average rate of 220 m3/d (1,384 bpd) of oil (gross), through a series of choke sizes ranging between 8 and 14 mm. No water was reported produced during this test period. During December, the well was shut-in for three days to record bottom hole pressures and over the remainder of the month produced a total of 7,920 m3 (49,820 barrels) of 35 API gravity oil (gross) at an average flow rate of 283 m3/d (1,780 bopd) (73 m3/d net; 460 bopd net) through a 14 mm choke at a flowing well head pressure of 31.6 kg/cm2 (465 psi). During this same period, the well produced a total of 466,228 cubic meters (16,464 Mcf) of associated natural gas (gross), at an average rate of 16,651 cubic meters (588 Mcf) of associated natural gas per day (gross), which is little changed since the well was placed on extended test. Produced oil is being trucked to facilities at Cruz del Sur and San Sebastian for storage and sale. On January 10, 2018, the Company sold 4,878 net cubic metres (30,680 net barrels) of oil held in its storage facilities on Tierra del Fuego at a price of US$60 per barrel. Natural gas production is currently being flared and the Company and its partners are evaluating conservation options. The Company and its joint venture partners are planning to drill one firm appraisal well on the San Martin structure during the first half of 2018 plus one additional well, contingent on the results of the appraisal drilling.
hxxp:// ..and capital reorg under way..encouraging?
Share price is doing better, can someone tell me why? (For me this is a left-over from Antrim and I don't follow it, sorry!)Guessing at improved Argentinian attitude?
hxxp:// interesting read...
From company website:- Crown Point Advises that Rights Offering will not Proceed and Provides Regulatory and Corporate Update TSX-V: CWV: Crown Point Energy Inc. (“Crown Point” or the “Company“;) announces that the minimum subscription condition with respect to its previously announced rights offering which expired at 5:00 p.m. (EDT) on September 23, 2016 (the “Rights Offering“) was not met. The Rights Offering required a minimum of 130,000,000 common shares (the “Minimum Amount“) of Crown Point to be subscribed for on exercise of the rights distributed to shareholders in connection with the Rights Offering. As such, in accordance with the terms of the Rights Offering, the Rights Offering will not be completed and all funds delivered to the subscription agent in connection with the Rights Offering will be returned to subscribers. As disclosed in Crown Point’s rights offering circular and related materials, Liminar Energía S.A. (“Liminar̶0;), the Company’s largest shareholder, had indicated its intention to participate in the Rights Offering for at least the Minimum Amount. However, the Company has been advised by Liminar that it has determined to defer any decision to make further investments in the Company until ongoing regulatory hearings affecting participants in the oil and gas industry in Argentina are complete and the impact of such hearings on the Company can be evaluated. In particular, as previously disclosed by the Company, in March, June and July of 2016 the Ministry of Energy and Mines (the “Ministry̶0;) issued Resolutions providing for increases in natural gas prices, which were expected to increase prices set in the comparative period by up to 400% for residential users and up to 500% for small and medium-sized companies. The Ministry had also announced proposed increases to electricity prices. However, a recent ruling by the Supreme Court of Argentina suspended the natural gas and electricity price increases pending the outcome of public hearings across Argentina. The public hearings regarding the proposed increase in natural gas prices for residential and small and medium-sized companies were held between September 16 and September 18. During the hearings the Ministry proposed average natural gas price increases of 200%. The public hearings regarding the proposed increase in electricity prices are expected to be held in the next 30 days. It is anticipated that price increases will be finalized in November 2016. The Company cannot predict what if any price increases will ultimately be approved. Liminar and the Company are engaged in active discussions regarding the Company’s go-forward business plan. Among other things, the Company is reviewing alternatives to further reduce its general and administrative and other expenses and is evaluating opportunities to grow the Company’s business in Argentina through strategic acquisitions or otherwise. After the Company has advanced these initiatives and the Argentine government has finalized the natural gas and electricity price increases, the Company intends to evaluate its options to obtain the financing required to fund its go-forward business plan. The Company will consider all financing alternatives available to it, including the possibility of conducting another rights offering provided that Liminar provides a contractual commitment to backstop any such offering. In the interim, the Company, with Liminar’s assistance, is reviewing opportunities to obtain short-term financing in order to fund the Company’s near term financial obligations, including the possibility of obtaining short-term debt financing in Argentina. For inquiries please contact: Murray McCartney Marisa Tormakh President & CEO Vice-President & CFO Ph: (403) 232-1150 Ph: (403) 232-1150 Crown Point Energy Inc. Crown Point Energy Inc.
Offer cancelled - hmm, what now?
I'm taking a punt and exercising mine - not a lot involved and I guess worth a small go if only to bolster original investment derived from AEY - mind you I'm no judge looking at AEY's outcome! Ah, well it's only money!
Any views on the rights offer & the general prospects for Crown? I've not being paying the slightest bit of attention as it's a tiny tiny holding stuffed at the back a bottom drawer....obtained as a result of the AEY sale - which itself is now in intensive care with the life support about to be switched off.
hxxp:// ...interesting? (Put tt in place of xx to follow link)
Thanks MM, interesting development. Unfortunately though the rise is rendered insignificant by the massive drop earlier in the year, but might provide a 'bearable' exit.
Recent rise caused by a 50m share placing at US$0.29 (CDN$0.33) to raise US$15m Plus new loan of US$1.7m
Thanks Ed.
Oh well, looks like it was too much to hope that anything associated with Antrim might be a success!
Hi Joseph, Yeah not good for the natural flow rates from the intrusives. I would guess these would be the best of the oil shows from the intrusives, but the little bit of positive in there is the TOC of the shale, its still a candidate for frac and test. 2-3% could still be within a commercial range for a frac shale, but the natural free flowing oil is a dead duck from the looks of it. Regards, Ed.
Any thoughts on the news Ed?
Results and operational update out Completion operations on La Hoyada x-1 have started
Ha Ha, mine too, what a disaster that was! Would be nice if this eventually covered all my losses there, but somehow I doubt it...
The most successful part of my Antrim investment this.
hTTp:// CALGARY, ALBERTA--(Marketwired - May 9, 2014) - Crown Point Energy Inc. ("Crown Point" or the "Company") (TSX VENTURE:CWV) is pleased to announce that it and its partners have commenced the drilling of the first well of the planned ten well drilling program on the 25.78% interest Las Violetas Concession in Tierra del Fuego, Argentina. The well is targeting natural gas in the Springhill Formation and has a planned total depth of 2,200 metres. The balance of the planned ten well program will be drilled sequentially. Crown Point advises that it has secured the services of a completion rig for the 100% interest La Hoyada x-1 exploration well located on its Cerro de Los Leones concession in the Province of Mendoza. Completions operations are expected to commence in the latter part of May. The completion program is targeting heavily fractured igneous intrusives in the Vaca Muerta oil shale formation.
On the move again...
March presentation hTTp:// Bit more info. relating to La Hoyada X-1 drill. Keep thinking this share has the wrong price - La Hoya results indicate unlocking further drilling, (with less emphasis on La Mocha). In particular the relationship with it's licence to nearby Llancanelo (p22) has greater emphasis in this presentation - previously I understood the company was drilling for conventional - with a 'free look' at the unconventional - now it seems the reverse is true, and understandably so. Comparison on p33 on Los Cavoas...
Another big name enters the Neuquen basin....... hTTp:// Malaysian oil giant Petronas today signed a preliminary agreement with Argentinian firm YPF to invest in the giant gas and shale oil field at Vaca Muerta, a statement said. Petronas has expressed interest in a shale oil field in Neuquen province at the foot of the Andes in western Argentina, said a statement from YPF, which was nationalized in 2012 at the expense of Repsol (IW 1000/49). Argentina has launched a global drive for foreign investment in Vaca Muerta, seen as one of the most potentially lucrative fields in the world. German firm Wintershall, U.S. giant Chevron (IW 500/2) and Chinese-Argentinian company Bridas have already announced more than $5 billion worth of investment seeking to exploit unconventional hydrocarbons at Vaca Muerta. French company Total (IW 1000/9) is conducting exploration at the site, while Russia's Gazprom (IW 1000/16) and Mexico's Pemex have also been approached.
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