Coastal Eng Share Discussion Threads

[sg31] 13/2/2013 15:33

if a little bi-polar at times , it wasn't long ago that he sold out.

I can't agree with that. He focuses on the important factor which is making money. He does that very well. He sells if he can't see a substamtial short/medium term profit and moves on. He is enthusiastic about his investments but he doesn't fall inlove with them.
I've been aware of OJ for about 5 years and I've seen him win and lose. If he loses he takes his lumps and moves on. He wins more than he loses and makes a lot of money. Best thing is he shares his research freely.
I'm grateful, my mind isn't wired right to do what he does.

[tommy51] 13/2/2013 14:59

Well OJ is always good value , if a little bi-polar at times , it wasn't long ago that he sold out. Anyway , it's great having all these presentations and interpretations but maybe time for a formal RNS with a clear interpretation from the company.

[dukedosh] 13/2/2013 14:49

Nice pop on CEN at the open. Currently, you can buy in London at a very nice discount.

[douglasallen] 13/2/2013 12:26

so CEO has $36 CAD in unrisked prospects alone. Obviously unrisked etc., but massive potential upside even if they come in on the low side!

[rivaldo] 13/2/2013 12:26

Wow! Cheers Melf, dukedosh.

Fantastic stuff. There should be a nice reaction in Canada to OJ's post. CEO could end up being a ten-bagger or more for me and hopefully a load of us at this rate if all goes well.

[melf] 13/2/2013 10:40

Thanks Dukey.......and always bearing in mind that these are "12 month" target prices!

[dukedosh] 13/2/2013 09:46

Updated header with Credit Suisse new TP C$33.22

[dukedosh] 13/2/2013 09:44

I can't post up the whole pdf but here's a summary of the Credit Suisse report:

Credit Suisse

Friday, 08 February 2013

Global Product Marketing

Summit Ski Report – Key Takeaways – Day 3

This report is intended to track key points from the conference and gauge
sentiment. It includes summaries from the previous day's company
presentations, as well as ski symbols to describe management's tone.

 Oil & Gas Exploration & Production: CEN.TO has acquired new
seismic data and will likely double to triple exploration running room
from 487 million bbls to 1.0-1.5 billion bbls in recoverable resources.

Jerry Moon, VP – Technical & BD

Coastal Energy
CEN.TO, Outperform, CP$22.29, TP$33.22

Incremental:
- New seismic data has been acquired and will likely double to triple exploration running room from 487 mmbbls to 1.0-1.5 billion barrels in recoverable resources. Based on new seismic data, CEN could likely high-grade their exploration prospects and change their drilling program.
- Drilling permits are expected for the late Q2/13 and could alleviate bottleneck concerns.
- Still collecting production data from Eocene frac wells with second frac well cleaning up right now. Eocene frac wells with stabilized rates of 400-500 bbls/d would be considered a good result, could open up new resource play (146 mmbbls, $19 un-risked).
- First two development wells at Bua Ban North were vertical wells in order to break-in the new drilling rig, the next 6 wells are likely to be horizontal and will likely materially push production upwards.
- Within the next 2-3 weeks, CEN may decide to fast-track and drill the North Terrace high impact prospect (138 mmbbls, $21 un-risked).
- Of the exploration prospects, Benjarong is very compelling as it looks similar in geology to Bua Ban North, scheduled to be drilled in Q4/13, 97 mmbbls ($15 un-risked).

[dukedosh] 13/2/2013 08:53

.double post

[dukedosh] 13/2/2013 08:49

Melf, looks like this was the post that prompted OJ.



Msg 20048 of 20059 at 2/12/2013 9:05:24 PM by

JimisJim


Credite Suisse Energy Conference Day 3 Takeaways

This was snipped from a summary post by Dennis Roth at Silicon Investor

Credit Suisse Energy Conference
Key Takeaways - Day 3

snip

Oil & Gas Exploration & Production: CEN.TO has acquired new
seismic data and will likely double to triple exploration running room
from 487 million bbls to 1.0-1.5 billion bbls in recoverable resources.

------------------------------------

Good grief! C$40?. Double or triple P2 and surely the range is C$45-55, maybe more?

[dukedosh] 12/2/2013 15:28

Even the low volume CENJF market mirrors CEN far better than CEO here does.

[dukedosh] 12/2/2013 15:26

The London market chaps really should try and keep pace with Canada. 1375 here, 1390 (equiv) there with a spread here as wide as the Grand Canyon! Common chaps, this just isn't cricket.

[douglasallen] 12/2/2013 12:16

18 quid sooner rather than later...look at the trend...broken out into new teritory. looks very good.

[morti1] 12/2/2013 07:26

Do you think this share is on course for 15 pounds sooner rather than later or can you see more of a fall back in share price before any further share price progress?

[thegreatgeraldo] 11/2/2013 20:05

DouglasAllen
11 Feb'13 - 16:17 - 370 of 370

thoughts on a dividend? capex is very low so CEO is generating vast amounts of free cash flow.

.....$200 mill of free cashflow after $315 mill of capex this year(on the assumption the OP stays in 3 figures)

I'd rather the company sat down in the summer, having had a very good look at the seismic & consider spending some of the free cashflow on getting in a third rig for maybe half a dozen explo wells with app wells if appropriate

[douglasallen] 11/2/2013 16:17

added a few more today, love the trend and oil strength seems here to stay.

thoughts on a dividend? capex is very low so CEO is generating vast amounts of free cash flow.

[algomas] 11/2/2013 12:11

very quiet today? zero trades.

[painter] 10/2/2013 18:48

This is showing the same trading patern as this time last year up'ed my stops hope I am wrong?

[dukedosh] 08/2/2013 15:37

Boing! There you go Doug. CEN on the up again whilst the London boys are still in the bar which makes for a great CEO buy at a discount to CEN. Not often us retail investors get to beat the market and spread here.

Edit: CEN dropped off steadily for the rest of the session so one may have spoke a tad too soon.

[rivaldo] 08/2/2013 15:17

Cheers dukedosh. The rise in Canada this afternoon is rather making a mockery of this morning's markdown.

[dukedosh] 08/2/2013 12:53

Nice find Riv.

[rivaldo] 08/2/2013 12:29

Throgmorton Trust have just reported results and have initiated buying of CEO. They already have £2.24m of shares at market value and report CEO as being on a prospective P/E of just 9.7 (which I suspect with the current oil price may be even better):



"We continued to add holdings which we decided were good quality and offering
attractive upside. Examples included....Coastal Energy......Coastal Energy is an international oil and gas exploration and production company with assets in Thailand; oil production exceeds 24,000 barrels of oil per day and has been growing strongly."

[dukedosh] 08/2/2013 11:45

I'm long so not bothered by these low volume shake outs. Look at the long chart. Made good ground again so far this year so expect the odd off day which can be exaggerated by the lack of liquidity of London stock.

[douglasallen] 08/2/2013 10:43

Quite some fall today, obviously mad worth by the wide spread. But still quite a big fall compared to peers.

Not to worry oil price looking rosey, CEO pushing on operationally.