Coastal Eng Share Discussion Threads

[thegreatgeraldo] 31/7/2013 14:21

btw, last year's interims were released on 14th Aug, not 31st Aug as suggested above

[rivaldo] 31/7/2013 11:11

Indeed...but meanwhile:

hxxp://news.sky.com/story/1122533/thailand-oil-spill-koh-samet-slick-spreads

[thegreatgeraldo] 30/7/2013 19:38

"No one is going to know what impact that will have on permits for pipelines, inspections of pipelines or permits for a period of time."

CEO doesn't use pipelines, as far as I'm aware has no plans to use pipelines offshore. So permits for or inspection of pipelines is a red herring. It's unlikely to make applying for offshore drilling permits easier or cheaper. Anyone who thought permit apps was straightforward currently hasn't been paying attention

Obviously CEO does use pipelines onshore for transporting gas.

[rivaldo] 30/7/2013 18:39

Cheers luminoso.

I think amstocks (one of the best posters on IV) summed the oil spill implications up perfectly as follows:

"As to the impact on CEN, logically it should not have any impact on drilling permits. However, there is the political aspect to the spill. No one is going to know what impact that will have on permits for pipelines, inspections of pipelines or permits for a period of time."

All share prices rely on sentiment, and this will I think affect sentiment, rightly or wrongly. This may be for a very short period of time (literally a day or two), or maybe longer (until the results), and may be minimal or may drive the share price down in the absence of buyers/buybacks. It's all about keeping an open mind and options open.

[morti1] 30/7/2013 18:23

I agree. The oil spill is not linked in any way to Coastal and the share price should in essence not be affected. The share price is simply drifting because since the last report with missed estimates etc there is not any news as yet to positively shift the share price. Progress in production has simply been held back and it ought to be back on track in due course, which will then be eventually reflected in the production and ultimately the share price. Long term I would think the company will be fine.

[marben100] 30/7/2013 16:30

It appears that the spill was due to a leak from a PTT operated pipeline (nothing to do with drilling or production). Rayong province is over 500 miles from Coastal's operations.

What impact do people fear?

[rivaldo] 30/7/2013 15:11

Agreed. I'd simply rather protect my cash now than leave it exposed in a stock which in the meantime may fall sharply.

As it now seems to be starting to do in Canada.

[thegreatgeraldo] 30/7/2013 14:58

Both rigs are due to be moving in the not too distant. The company may well announce when this happens & update on what they've been up to for the last 4/6 weeks. Or they may save it up for the interims...

[rivaldo] 30/7/2013 14:46

I sold mine today again after seeing news on the IV bb of an oil leak on the Thai coastline which appears to be spreading:



Better to be safe than sorry. This may affect sentiment badly, and with no news likely until the results in say 2 to 3 weeks' time (which themselves may not be great given lower production), I can always buy back later, hopefully at a lower price. Pehaps nearer 800p as Proj suggests.

GLA.

[proj] 30/7/2013 12:42

Next support level: 800p.

[ranj79] 30/7/2013 00:38

Cheers guys.

[thegreatgeraldo] 29/7/2013 22:58

I'd guess earlier this year as the buyback blackout has been in force for the best part of a couple of weeks - normally a dealing block is a month ahead of results?

[royaloak] 29/7/2013 22:43

Last year was August 31st.

[ranj79] 29/7/2013 22:30

Does anyone know when the Q2 results are out?

[rivaldo] 26/7/2013 15:25

...and up she goes in Canada. Will the UK price move up as quickly I wonder?

[jaws6] 26/7/2013 15:14

some trades going below price

[rivaldo] 26/7/2013 07:25

Excellent news - Ingalls & Snyder have this morning released an RNS noting that their stake in CEO has now increased to above 11%, or 12,54m shares...

They've bought another 884,000 shares:



First one I've seen from them - is it obligatory since they're now above 10%?

[proj] 25/7/2013 22:12

CWA1, whatever: my original post was borne out of pure frustration.

I was only saying that the last month or so has been very good for my (and a lot of others')PF, with CEO being the glaring exception

I'm sure that now I'm out it'll rocket back to 1400p and beyond.

Cheers & GL.

[cwa1] 25/7/2013 21:08

Not irked at all! My post was just in jest as I liked the sound of shares that always go up :-) I'll keep my eyes peeled for Carillon and Glencore to see if they continue their upward trend...

[proj] 25/7/2013 17:15

CWA1..........er, Carillion (bought at 252p a few weeks ago, now 297p). Glencore (bought same time for 258p, now 280p and rising).

Sorry if my post irked you in any way, it's just that this seems ready to trek back to £8 again (might take another look at it then).

Good luck, whatever your strategy.

[thegreatgeraldo] 25/7/2013 15:22

Cheers. That makes sense.

[rivaldo] 25/7/2013 15:07

TGG, the blackout would be due to the Q2 results which are due in early/mid-August.

[don777] 25/7/2013 14:54

the chart does look drop and test a lower low on the way.

[thegreatgeraldo] 25/7/2013 14:49

I've given IV a rest lately. Any reason given for the blackout?