Coastal Eng Share Discussion Threads

[dukedosh] 20/6/2013 18:02

Jakedog2,

RB already stated at the agm that if the share price remains weak then they will do something about it next week. I fully expect a board meeting and buy back to support the share price very shortly.

I agree the value here is very compelling indeed and with the buy back about to kick in I bought another load of traders today at 835.

[dukedosh] 20/6/2013 17:49

Don777,

CEO's shareholder list looks like it needs updating (IR issues again perhaps) but bear in mind IIRC under TSE rules only holdings above 10% have to be disclosed.

SMDR attracts more funds than CEO chiefly because SMDR is FTSE 250 listed that certain funds are obliged to include in their portfolios.

[jakedog2] 20/6/2013 17:26

Dual listing can be a drawback when sentiment is negative...anyone else notice the price drop at 14:30..... Being continually repeated

[jakedog2] 20/6/2013 17:23

Doubled up holding at 834p, with a 'stop'.....

When the bounce comes it will be quick.


PE of 6..... Minimal risk IMHO. Feel update & ' miss' is now priced in. Risk / reward is compelling

[sg31] 20/6/2013 12:32

Don777, You asked about major shareholders. This may help..

us2u001: 19049- Investor Village




Share Ownership and Major Holders






Received clarification from Coastal on who the major shareholders are and the breakout of those numbers. There is probably a couple of areas that were confusing to all of us. Ingalls and Snyders for one, they have both a holding by the firm which is about 9% and their individual private client accounts hold another 10%. So next to Oscar Wyatt they are the big holders. Second the old PH Gas LP holding of 41.1 mill shares from 2006 (Sedi records) either doesn't exist any longer or it is much smaller, could be one of the 7% holders. PH Gas is a private partnership registered in Delaware, could be even tied to Oscar Wyatt or family. So mgmt's number of 4 major shareholders and mgmt/directors/board holding 70% isn't accurate today. Here is the current break out of the numbers:





26.5% Oscar Wyatt

9% Ingalls (in the firm's account)

Additional 10% Ingalls (in client accounts)

3.5% Management

2 others @ ~7% each

Total: ~63%



PH Gas was the holder of the onshore gas (Apico LLC) shares and Coastal acquired those for a stake in Coastal. Then there was a 4-1 consolidation in 2007 which would have brought their shares down to approx 10.3 mill shares.

[briggs1209] 20/6/2013 10:06

I bought more here again, just tuck them away and ignore the current share price

[wilmslowwhite] 19/6/2013 22:19

Thanks to you two guys - some really useful comments and I really appreciate the time you've given us to share that.

I was abit concerned about the 100K sale today on LSE but I still view this stock as a "long term" stock so more than likely I will be topping up.

[dukedosh] 19/6/2013 22:01

Updated header with the new presentations.

Coastal Energy Corporate Presentation - June 2013 AGM:


Coastal Energy Corporate Presentation - June 2013:


The second one is more comprehensive than the agm one.

[dukedosh] 19/6/2013 21:54

Updated header again with more reduced TPs from various brokers.

[thegreatgeraldo] 18/6/2013 23:33

dukedosh
18 Jun'13 - 21:59 - 870 of 873 0 0

. See you at the next one - that will be a significantly happier one.

...Bloody hope so!!!

[ed 123] 18/6/2013 23:30

"If that is our destiny, you cannot change it. But do not go with fear, Grasshopper." - Master Po.

[harrywilliam] 18/6/2013 23:13

Is it time to buy. Is 15 quid a share still possible in next year or 2?

[robbo35] 18/6/2013 23:11

Yes, they can go in an ISA.

[harrywilliam] 18/6/2013 23:06

Can you buy these in an isa

[dukedosh] 18/6/2013 21:59

Good to see Marben100, TheGreatGeraldo and Don777 at the meeting and for the chat after. See you at the next one - that will be a significantly happier one. Good luck.

[jakedog2] 18/6/2013 21:42

Dukedosh..... Thanks for the notes. Very clear and reassuring

Limited downside, with reduced risk and plenty upside.

[melf] 18/6/2013 21:16

I would have added but completely overweight here already!

[davr0s] 18/6/2013 20:36

Yes I not going anywhere either - i can't believe I added more at 8.71 today

[melf] 18/6/2013 19:18

Dukey and Marben...thanks for your posts here that help reassure. I'm sitting tight.

[marben100] 18/6/2013 18:11

Just to whet the appetite, some positive drivers over the coming months:

- Results of fraccing at BB-Main and BBS, should lead to production increases and a potential up to 100mmbbl reserve addition once RPS reviews the implications for Eocene development.

- Deployment of new MOPUs at Songkhla-H and Kapal (Malaysia) leading to further production increases. (late Q3)

- Benjarong South, BB-Terrace explo late 2013/early 2014

Cheers,

Mark

[dukedosh] 18/6/2013 17:54

Yes Don, I am the tall one.

That's the one Don. Approx. 30% of shares are held by insiders and the rest are in the public domain.

It was good chatting with you. Good luck.

[marben100] 18/6/2013 17:50

Hi Dukedosh,

Nice to meet you at the AGM & thanks for writing up your notes!

It was me asking most of the questions BTW (& I guess it must have been me that Don spoke to about the shareholdings).

I'd just like to clarify one part of your notes, Duke.

The issue with the swelling packers isn't to do with the fracs but with the new horizontal well(s) in BBN. My understanding of the situation is as follows:

- As originally drilled, the wells suffered from "water coning" (see hxxp://www.glossary.oilfield.slb.com/en/Terms.aspx?LookIn=term%20name&filter=water%20coning - click on the image to see more clearly what's going on).
- The company installed "swelling packers" to try to remedy this by controlling the flowrate - but this resulted in the well becoming clogged due to wax in the oil (described as "like shoe-polish").
- There are two possible solutions to this immediate problem: use "hot oil" equipment to melt the wax - but there is no hot oil equipment available in the region; or open up the well liner, which will restore the flow but will reinstate the coning problem, meaning a higher water cut and reduced oil production.
- The long-term solution to this is to drill more closely spaced wells at lower angles (closer to vertical), meaning lower but more manageable flows from each well. Won't have much impact on field development economics, due to low drilling costs, but will take time to get the necessary EIA approvals (as you mentioned) and more drilling will be needed to develop the field (and similar ones they discover).

As you mentioned, lots of positive noises about prospective discoveries. Overall Randy said that there were a lot of prospective leads to drill and a good chance of finding at least one more BBN sized field amongst them. ISTM that it would be sensible to do a fair bit more explo before considering a sale.

The co. has plenty of cash/cashflow, so there is no time pressure to sell. Similarly, I expect the three major holders: Oscar S Wyatt (26.2%), Ingalls & Snyder (9.29%) and management (~4%) will be in no rush to sell prematurely, before the company's licences have been explored properly to discover what is there. I would guess that'll take at least another 3 years.


So, this an investment for those prepared to be patient.

Cheers,

Mark

[don777] 18/6/2013 17:47

dukedosh,
thanks for your reply.

so you are the tall man.

the website you quoted is the same one as I listed above and those big names only have very few CEOs in their holdings.

if majority are hold by PIs, then the share price might be volatility .


D

[sg31] 18/6/2013 17:40

The majority of shares are in private hands. Oscar Wyatt and his wife effectively control the company.