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| Share Name | Share Symbol | Market | Stock Type |
|---|---|---|---|
| Genesis Petro | GPC | London | Ordinary Share |
| Price Change | Price Change % | Share Price | Last Trade
|
|
|---|---|---|---|---|
| 0.00 | 0.00% | 8.50 | 01:00:00 |
| Open Price | Low Price | High Price | Close Price | Previous Close |
|---|---|---|---|---|
| 8.50 | 8.50 |
| Top Posts |
|---|
Posted at 01/9/2009 15:30 by jimmy tarbuck I note from today's announcement "the Company is not subject to the City Code and Genesis Shareholders will not be afforded any protection under the City Code". What a bunch of utter scoundrels are running the show here. How do they sleep at night ?One to put down to experience, I guess. I've almost moved completely out of AIM now - never to return. The Gordon Brown-style, light-touch regulation on AIM holds no favours for small investors. |
Posted at 22/8/2009 13:20 by barrywhit i don't think the company want a rival bid, it's a very cozy takeover as far as they are concerned, they all keep their jobs, the company is turned private nothing really changes except they have stitched up all the private investors/shareholde |
Posted at 11/7/2009 10:33 by barrywhit I see Bayerngas are to delist Genesis from AIM and then register Genesis as a private company......which means all they have done is wipe out the Investors for a tiny percentage of it's value, leaving the company to continue as before..it really shouldn't be allowed, they need 75% of the vote.........and they probably already have that amount, also Genesis have agreed to a Break Fee, if it all goes pear shaped and another bidder makes an approach they will pay Bayerngas a fee.........shafted or what!!!!!!!!!!!!!!! BAYERNGAS DIDN'T EVEN HAVE TO PAY A PREMIUM TO THE LAST TRADE.. The last 2 buy trades on the 2nd were @ 8.65p......... |
Posted at 24/3/2009 10:27 by haydock Well maybe not quite bottom drawer, there is life in the 211 block & opportunities for the board.Deals are being done, This from Oil barrel.{Elixir} The company continues to push ahead with its UK North Sea exploration and appraisal business, which provides the high risk, high impact excitement missing from the Gulf of Mexico operations. One of the key projects here is the appraisal of the promising Mulle prospect (Elixir 40 per cent) in Block 211/22b, adjacent to the proposed Causeway oilfield development. Mulle is reckoned to hold some 18 million barrels of oil but the joint venture was recently awarded Block 211/27d, which contains a mapped southern extension to the Mulle field and is likely to boost that resource estimate. This is all well and good but means little without the test of the drillbit: the joint venture, led by DNO, is seeking farm-in partners before moving ahead with appraisal drilling. An online data room was opened in Q4 2008 and the company says interest levels were "encouraging" with the partners now in discussions with "several parties". The 25th licensing round also saw the company awarded 100 per cent of Block 211/12b, home to the Tiger prospect. The block lies in the northern North Sea, about 140 km north east of the Shetland Islands and just 5 km east of BP's producing 1.5 billion barrel Magnus field. The Tiger prospect is a Magnus Sandstone Member formation, over 500 feet of which was encountered in Well 211/12b-15 which was drilled down dip of the Tiger prospect in 1992. The equivalent sands in the nearby Magnus field have excellent porosity and permeability characteristics. This looks promising but it is still early days in the exploration cycle. Elixir has another big cat prospect on its books, the Leopard prospect in Block 211/18b. It has a 56 per cent working interest in the block and was recently granted a four month extension while the company seeks a farm-in partner to share costs and risks. Elixir is keen to conclude a farm-out deal in the next few months to enable it to drill the wildcat before year end. The current market is not promising for farm-in deals and this is a project Elixir has been touting for some time: some positive news on this front would provide some reassurance to investors that Leopard is a goer and, with the promise of some near-term drillbit action, but some momentum behind the share price before the year-end spud. |
Posted at 15/2/2009 20:30 by haydock Faroe Petroleum Exploits Favourable Tax Regime To Get Busy In Norway WatersUnique access to oil and gas investors. Global distribution of company news. Find out more. Informed comment and independent news delivered by email every week. Sign up here. Management and investors are brought together at our investor forums. Find out more. Get the latest news from oilbarrel.com delivered to your desktop as it happens. Sign up here. Join other informed investors. Debate oil and gas companies. Visit Bulletin Boards. Listen to Forum Webcasts with synchronised PowerPoint slides. News February 09, 2009 Faroe Petroleum Exploits Favourable Tax Regime To Get Busy In Norway Waters Faroe Petroleum has long seen the advantages of working in Norway. Norway's 15-year time lag behind the UK sector means there are plenty of under-explored plays and previously sub-economic or over-looked opportunities available for appraisal and development, making it an attractive playground for ambitious start-ups looking to grow through the drillbit. And Faroe Petroleum can afford to drill up its licences in Norwegian waters because it is in the relatively rare position of being able to raise debt to fund exploration. This is because the Norwegian fiscal regime returns 78 pence for every pound invested in exploration, against which the company has a NKr500 million credit facility with Barclays and Bank of Scotland. Importantly, this facility was doubled late last year in challenging market conditions, marking a vote of confidence in the AIM-quoted E&P. Under the terms of the revolving credit facility, 75 per cent of Faroe's exploration and appraisal expenditure in Norway will be supported by the bank facility, thereby effectively quadrupling the capital available for investment in the Scandinavian country. This explains why the company is keeping busy in Norway. Last week it spudded the Grosso exploration well in PL376 (Faroe 10 per cent), which lies on the northeast flank of the North Viking Graben and lies immediately north of the Jurassic gas/oil Gja field and south of the undeveloped Cretaceous Agat gas discovery. Faroe's acreage, which is operated by Norwegian energy giant StatoilHydro, is home to multiple prospects in both structural and stratigraphic closures, with Jurassic and Lower Cretaceous reservoir objectives. This is one of three wells for Faroe Petroleum in Norway over the next two months. The Hyme exploration well in PL006D (Faroe 10 per cent) is already underway. This is a significant oil prospect within a stratigraphic trap located on the western flank of the South East Tor oil discovery. That discovery (Faroe 10 per cent) in PL006C will be tested by an appraisal well following the completion of the Hyme well. South East Tor lies in 67 metres of water and was discovered in 1972, encountering oil in both the Tor and Ekofisk formations. It was successfully tested, flowing 43 degree API oil at a rate of 4,525 barrels of oil per day from the Tor Formation and 4,281 bpd from a separate test in the Ekofisk Formation. This sounds very promising particularly as the find and the Hyme exploration well lie within tie-back distance of existing infrastructure. Given the quality and range of these exploration assets, and that all important tax rebate, it is little wonder Faroe has sought to expand its operations in Norway. At the end of last year the company was awarded three new licences under the 2008 Norwegian APA Round. With no well commitments and just seismic to be acquired or reprocessed, the new licence awards make for a relatively low cost and low risk extension of the AIM firm's footprint in Norway. The new licences include a 30 per cent interest in PL475 BS, a 38 sq km extension of its existing PL475 Santana licence where a well is scheduled to drill in 2010. This licence extension is home to an appraisal opportunity called the Maria prospect. It was also awarded a 20 per cent interest in PL510, a 298 sq km area that is home to a large number of prospects and leads close to Faroe's existing acreage in the Halten Terrace area. Faroe was also awarded a 30 per cent interest in PL507 in the Northern North Sea, a 973 sq km area close to the company's existing PL414 Kalvklumpen license. The new licences make a good fit with what has been a pretty impressive land grab or water grab - since Faroe made its debut in Norway in 2006. It now has a portfolio of 23 licences, providing a good spread of areas, play types and risk, ranging from near-term development projects to rank exploration. The new awards in Norway came as the company also bulked up its holdings in the Faroe Islands, where it started life in 1998, and the UK. In December the company was awarded two new exploration licences in the Faroe Islands third licensing round. It has a 10 per cent interest in the Klubokan licence, which covers 5,300 sq km and contains a significant four-way dip closed structure, and 100 per cent of the Rannva Extension, a 1,200 sq km area that lies adjacent to the company's existing Rannva licence. In a marked change to the first licensing round in the Faroes, which saw a feeding frenzy among international companies as the waters there were opened for the first time for exploration, resulting in aggressive and expensive drilling commitments, the latest licence awards carried no well commitments: a reflection of the less-than-impressive drilling results from the early wells in these frontier waters. "This latest award secures us prime acreage in one of our core areas, for a very modest capital commitment," noted CEO Graham Stewart. The Faroe awards came hot on the heels of November's acreage awards in the UK's 25th Licensing Round, where the company was awarded two new exploration licences. These comprised a 30 per cent interest in the Defiant Block 208/21 in the West of Shetland, which lies to the east of the company's Glenlivet prospect, and a 20 per cent interest in the Narwhal Block 44/29c in the Southern Gas Basin, which sits to the west of the company's Orca field. It adds up to an extensive portfolio, with a wide range of opportunities for the E&P, from gas production in the UK North Sea to appraisal and development opportunities in the Norwegian and UK sectors to high impact wildcatting West of Shetland and off the Faroes. And, importantly, this portfolio is backed by income from production, a strong cash position and that important NKr 500 million debt facility, giving this E&P the financial muscle to drill up its inventory and chase down its potential for shareholders. |
Posted at 29/8/2008 15:09 by barrywhit It scares weak investors into selling, well that is their theory........never seems to work, only on a share heavily traded, which GPC isn't....... |
Posted at 22/7/2008 16:34 by bogg1e I was looking at them at 34p, dribbling, but couldnt afford to lose a couple of grand if the fall had continued. Shame cos it would have been nice to be able to sell and take a few thousand shares for free. Oh well. I think it will be a while before the low thirties are hit again (if at all). A lot of large investors are keeping shares until at least the results from the first drilling attempts are out, so if it reverses it wont be far and it wont be for long. Only a few months to go before speculative buying will begin in earnest imo. Shame the drilling seems to be pushed into the winter months, shame that, not the best time to be performing such operations in the North Sea. Good luck all (and to the rig operatives, they are gonna need it!) |
Posted at 11/4/2008 08:53 by haydock No problems with agreeing to all that.Golden crosses do exist, do have a rationale, & do attract investors, a sort of self full-filling prophercy. Thats what the mumbo-jumbo would have you believe. I think it's a strong situation anyway, but which came first the hen or the egg? I was attracted by the chart,to this share, & by the strength & the stage of the story. |
Posted at 04/12/2007 17:31 by rdpounder JoeStalin - 4 Dec'07 - 11:35 - 105 of 106"Genesis will raise additional funds by issuing new equity to institutional investors in a private placing" This should drop the price to allow PI's to join in. What's your logic there? They're issuing them at 25p anyway, so you can pretty much get that price now |
Posted at 04/12/2007 11:35 by joestalin "Genesis will raise additional funds by issuing new equity to institutional investors in a private placing"This should drop the price to allow PI's to join in. |
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