Coastal Eng Share Discussion Threads

[dukedosh] 17/6/2013 19:30

Thanks Marben100. You can clearly see the Cavalry Sq access from Turks Row on Google Street View. Hopefully, I'll see you both there?

[thegreatgeraldo] 17/6/2013 19:26

Cheers for that!!

hxxp://www.each.co.uk/p/0000001177/0000001168/115967.pdf

[marben100] 17/6/2013 19:20

A tip for anyone travelling to the AGM (which is at a new venue this year): Cavalry Square appears to be a new development, not shown on Google maps. The entrance is on Turk's Row, close to Sloane Square tube station.

[nermil] 17/6/2013 19:07

Dukedosh thanks for clarifying. Last I checked share price off on the tsx around 4%. I assume then the market in may wanted to see well over 30k to make up for previous month missed targets.

[dukedosh] 17/6/2013 18:35

nermill,

Page 4 of the current May presentation:

Growing Oil Production Profile
 Current production ~25,500 boepd, >80% offshore oil (+102% vs. 4Q11)
 33,000 boepd 2013 guidance (+50% y/y)

In order for the company to hit their average monthly production guidance target, production will need to hit circa 40,000 boepd from June onwards, for the rest of the year. I can't see this happening now as there's obviously delays or what have you that we have not yet been told about.

[nermil] 17/6/2013 18:25

I'm sorry if this sounds daft but I don't understand those Thai figures even if the market seems to unhappy with them. So CEO guidance is 30k and the 23k odd figure is cumulative? Or just for the month? And this is CEO production? How does this suggest they are now less likely to make their target?

[dukedosh] 17/6/2013 18:05

sg31,

Point taken. If I get the opportunity I will merely ask why IR don't answer our emails and phone calls and not issue material news as it becomes known to the company. If I can't ask this, maybe someone else from here that is attending can.

[dahhad] 17/6/2013 18:00

What is going on here? AGM should be interesting!

[dukedosh] 17/6/2013 17:52

The registrars haven't sent me my letter of representation. Hope I can still gain entry to the agm or it's one wasted day and wasted journey.

Must say I am fearful of this agm as I am wondering if management will use this to officially downgrade guidance.

[sg31] 17/6/2013 17:44

"It seems to me that the select few (analysts) gets to hear news that the rest of us (retail investors) get second or third hand from unconfirmed sources on bb's like IV."

You might want to reword that if you are going to complain. They might just shut off the leaks to unconfirmed sources on bb's and then we will be completely in the dark. :-p

[dukedosh] 17/6/2013 17:16

Marben100,
I've got no problem at all with rewarding success, which these numbers fairly reflect imo. However, I do have a big problem with the lack of news issued into the public domain by Coastal's investor relations (IR). It seems to me that the select few (analysts) gets to hear news that the rest of us (retail investors) get second or third hand from unconfirmed sources on bb's like IV. This situation stinks - it's totally unfair.

[blue86] 17/6/2013 17:09

thanks mark, dd

[marben100] 17/6/2013 16:58

PS any thoughts/comment on exec remuneration?:

($m)......................2010.....2011.....2012

Randy Bartlett (CEO)......2.63.....5.84.....6.18
William Phelps (CFO)......1.59.....2.49.....3.50
John Griffith (Thai Mgr)..2.35.....2.99.....4.01

(NB the major part of this is share based awards/incentive plans, subject to vesting)

[dukedosh] 17/6/2013 16:53

blue86

The link is in the header above. Copy and paste it.

(as a non subscriber, as I am no longer allowed to write HTML in the header).

[marben100] 17/6/2013 16:52

blue - link to the ministry web-site is in the header: hxxp://www.dmf.go.th/index.php?act=service&sec=prodReport

Look forward to hearing what the directors have to say at tomorrow's AGM.

Cheers,

Mark

[ricky46] 17/6/2013 16:36

Don't get whats going on with these!

[cwa1] 17/6/2013 16:32

Hope they are going to get busy and start some buyback fairly soon. Not often I support buyback but in this case I think it would represent reasonable value.

[blue86] 17/6/2013 16:28

what's the link to the thai ministry? obv that is why the stock is off 5%

thanks

[naeclue] 17/6/2013 15:47

I'd be interested to hear what Coastal say about production. Given they expected to average around 30k for the year (iirc), they need to get things moving.

They do seem to explore better than they produce.

[dukedosh] 17/6/2013 08:07

I am guessing that tie ins and even bad weather delays came into play as monsoon weather warnings keep coming from Thai Met Office for GOT.

[dukedosh] 17/6/2013 08:02

Monthly Gas & Oil Production (Official Thai DMF boe/d):

Month.........Onshore....Offshore...Offshore Wells

May 2013.....2,637........20,529.....42 from 53
Apr 2013......2,711........22,763.....42 from 53
Mar 2013......2,572........21,506.....42 from 53
Feb 2013......2,457........20,507.....42 from 53

[dukedosh] 14/6/2013 15:10

I'm still around Doug but there's not much to say that hasn't already been said. I'm waiting for the end game before I cash in all my chips here. Hopefully the agm will reveal something Tuesday. Anyone else from here going?

[douglasallen] 14/6/2013 13:53

good to see you around duke...haven;t seen too many posts from yourself.

CEO has vastly under-performed my expectations as a stock, but the company is inherently good. does the really knowledgable guy still post on the Canadian forum for CEN, or is he out now?

I'm gonna stick it with CEO, on an earnings basis alone the stock is too cheap. Factor in some exploration upside and the possibility of a takeover then the stock is exceptionally cheap.

Unfortunately one cannot second guess when this value will be realised; perhaps CEO will pay a special dividend to pay cash back to investors. Personally I would rather see expansion of production and growth in reserves as that will really get the stock moving.

Fortunately oil still remains relatively strong and really underpins CEO's earnings.

I topped up the other day at 1035p. However, I have bought previosuly at higher prices.