Coastal Eng Share Discussion Threads

[thegreatgeraldo] 17/6/2013 23:37

Putting the Malaysian & Songkhla H delays into perspective....... company presentations have drilling ending there at the end of August - with production to follow shortly afterwards? The new guidance is, "We now expect first oil from the Kapal field in Malaysia in late Q3 2013". "Late Q3" to me is back end of September, possibly edging in to October?

Re Songkhla H, drilling was scheduled to end late Oct/early Nov.. today's guidance states, "targeting first oil at Songkhla H late in the fourth quarter of this year."

See page 9 of the current company pres. Both the above projects note the need for a MOPU

[dukedosh] 17/6/2013 23:15

marben100,

Company announced 33k boepd Guidance. It is on page 4 of the May presentation, page 4 of April presentation, page 4 of Feb presentation.

TGG mentioned this a few days ago. It was on Rig Zone. Nothing official from Coastal though.

[marben100] 17/6/2013 23:10

Just to get my facts straight for tomorrow:

a) Where/when was previous 2013 guidance issued? {I know it was in broker notes but they're not "official"]
b) The announcement implies that the MOPU damage was previously reported, but this is my first awareness of it. Has it been previously reported & if so, where/when?

TIA for any help on this.

Mark

[thegreatgeraldo] 17/6/2013 22:51

I'm not aware of any brokers who were basing their 2013 numbers on company guidance. The problems with the MOPUs were obvious on IV a few months back - that's where I found the piece about work on the MOPUs not starting until early May.

duke,

Apparently the gnomes (CS) weren't involved in the market today

[douglasallen] 17/6/2013 22:42

how much has production guidance been lowered from what was targetted?

tbh...i'm surprised at the sell off....i thought the drift down over recent weks/ months was because it was pretty obvious that coastal was going to miss guidance!

[dukedosh] 17/6/2013 22:35

Another really good find amongst BBN Miocene but a miss in Ko Kra by market standards, despite the narrative. More on the delays we already suspected for the past few weeks, even months but imo on balance a very positive NR in terms of shareholder value, I feel.

I still have a big issue with IR policy here as these delays were suspected from DMF numbers, unfortunately the silence hurt us just as much, if not more, over the past few weeks. Material information should be released when known, not when they feel like it.

A new presentation for the agm:


Be interesting to see what FE and CS make of it.

Anyone notice that big blue c.35k volume spike on the CEN:TSE just before the bell? I'd like to believe it was buy back. Either that or maybe something else I really don't like to see just before a NR.

[thegreatgeraldo] 17/6/2013 21:50

The BB North result is good - the canucs are into barrel counting. Just look at some of their valuation methods!!!

[douglasallen] 17/6/2013 21:43

edit: by going back through old RNS's 34 feet of net pay seems like a pretty decent find for CEO.

Tomorrow will be interesting though.

[douglasallen] 17/6/2013 21:39

34 feet of net pay doesn't sound massive, but then again i don't know how many feet of net pay were found on previous bua ban drills and the breadth they run for....

[douglasallen] 17/6/2013 21:35

bua ban north results are good, no?

that was the exploration target??

[thegreatgeraldo] 17/6/2013 21:12

Hit at BB North, miss with gas shows at G5/50, guidance for 2013 production lowered.

[algomas] 17/6/2013 21:12

update just announced @ 21.05. should be very interesting tomorrow!

[dcomd99] 17/6/2013 20:50

Could be a good buying opportunity tomorrow.

Didn't someone say that last week ... and the week before that.

[ricky46] 17/6/2013 20:44

How come when this thing was rising at pace last November on bid rumours on tsx it got suspended, and when it drops like a stone nothing happens!!!!!

[ricky46] 17/6/2013 20:39

As the saying goes buy on fear sell on greed wow never ever thought £8 would be seen with this share again

[sg31] 17/6/2013 20:34

Could be a good buying opportunity tomorrow. Looks like panic on TSX

[ricky46] 17/6/2013 20:34

There is something seriously wrong here for sure

[dcomd99] 17/6/2013 20:29

Have they discovered that all their wells produce water?

[ricky46] 17/6/2013 20:27

Unreal down nearly 10% on tsx

[dukedosh] 17/6/2013 20:07

marben100, I haven't but I can guess. BTW, Is there a dress code at these things?

[marben100] 17/6/2013 20:05

Yup, look forward to seeing you there Duke... & you get to find out why tgg bears that name. :#) [assuming you haven't met him before]

[ricky46] 17/6/2013 20:02

It's obvious what's happening then... Buy back announced, production guidance going to be reduced, private investors last to hear about it, should be able to pick these up at £7 / £8 tmw cos this is going to plummet