Genesis Petroleum Share Discussion Threads

[haydock] 24/4/2008 08:58

Genesis has 211/1.2 & 3.
barrywhit - Many thanks for the guide.

It does not seem a million miles away from the area in which Dana has had a really important find, that they hope will trigger large finds in their other blocks nearby, all on the U.K of the Norewegian line.

[booweekly] 24/4/2008 01:01

TomCo sees Israel expansion

Companies: TOM

16/04/2008

AIM-quoted TomCo Energy could have half of 100 million barrels of oil in Israel's Heletz field, suggests chief executive Howard Crosby.

Crosby, an American resources entrepreneur claiming recent multi-million successes with the Cadence and High Plains Uranium ventures, says the AIM-quoted company is this year re-working eight existing wells in the southern Israeli project, first worked 50 years ago with old technology. He hopes this way to lift oil production nearly fivefold to 300 barrels a day, while arguing the company's potential oil shale reserves in Utah could be in the order of 230 million barrels.

Citing acquisition costs of $10 to $11 a barrel and lifting costs below £5 a barrel – against current levels well above £$110 – Crosby says Isle of Man-based Tomco has so far raised £2 million in shares and convertibles. He contends management and friends hold sway over 45 per cent of the the company, which is paying £500,000 towards Heletz and is committed to put up another £2.25 million over three years to earn its half share in the project.

Crosby argues that Heletz, which is near some major gas finds, has 'blue sky' potential in as-yet-untested deeper reserves, which he opines could exceed 100 million barrels. But he says TomCo, which lost £1.2 million in the year to last September, sees even greater potential in its Utah commercial oil shale leases, granted by the state.

According to Crosby, the company paid the equivalent of 10 cents a barrel for shale oil in place in the Utah property and now hopes to do deals with a floor price of $4 to $5 a barrel. He says new treatment processes, devised by Shell, have transformed the viability of hitherto uneconomic oil shale projects.

[baht] 24/4/2008 00:34

Never wrong to take a profit. Just because a Director sells doesn't mean there is a problem or not enough shares available though either could be true. Just as likely Mr H is buying himself a new house which becomes the Director of an up and coming Oilie Co.

You can understand the added interest in GPC now. We know they have a rig booked, drilling could start as early as July (Q3 as per recent RNS). We know crude is at record prices, and that the first drill target is viewed as a very promising target. GPC have in the past placed great store in the Seismic 3D data available to them, so surely the 3D for this block must be very very encouraging. If they have a good strike we could see the share price return to pre consolidation levels (I hope).

How long does a typical test well take to drill and analyse the results, does anyone know?

I'm guessing results could take 8-12 weeks or more so we could have good news between Sept to Oct.

[rdpounder] 23/4/2008 16:50

Think Mr. Haagaard should have held on for a better price, doh! Can't be THAT desperate for cash surely!

[barrywhit] 23/4/2008 16:05

Director sell to let in another Institution........hmmmm

There are no shares for them to buy in the open market, well not at less than 50/60p
if they wanted circa 3million........so a director has to sell........so that was the 3million sell yesterday, but what was the 2.9million x 2 transaction that followed??

[barrywhit] 23/4/2008 14:03

Nice rise, they have no stock at all, and such a small amount in free float...
This is now at an 18month high, long may it continue........

[never_say_never] 23/4/2008 14:02

are we on the move then a little bit of buying

[barrywhit] 23/4/2008 11:39

haydock,

Look on the Genesis website, operations section, shows block field positions etc. etc..

[haydock] 23/4/2008 10:33

Dana has today had a big success in 210/24A Rinnes field , with more expected around the area.
Genesis has 211/1.2 & 3.
Is this approximate,any North sea mapping please?

[barrywhit] 22/4/2008 17:19

So what's with the 3 late Trades.....some form of roll-over????

[barrywhit] 18/4/2008 15:02

The MM's just don't have any stock, every buy is nearly always a tick-up..

[never_say_never] 17/4/2008 15:06

A` wee bit movement just warming up for move...Hold steady

[popen] 11/4/2008 22:38

Where is 9/5b ?
On the UK continental shelf in the North Central area.
It is immediately South of the 60 deg.N parallel
and immediately to the West of 2deg. East

It is within the Viking Graben.

The main obstacle to a higher price may be
no market in reasonable size.

[haydock] 11/4/2008 08:53

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.

[rdpounder] 10/4/2008 17:06

Put your golden crosses away. News amd or significant buying will drive this, that's all. We're in a very strong position financially though and we have good geo and some good licences.

[never_say_never] 10/4/2008 09:46

Hold on this is a go go go just have patience....

[haydock] 10/4/2008 09:43

Well we have a definate drilling rig, a definate target, & a definate golden cross.
Mumbo -jumbo or not? Time will only tell.

[baht] 10/4/2008 09:27

Popen #266 or anyone else in the know about such things I have a question for you. If 9/5b does hold 40m barrels and it is no harder to extract than the average N.Sea well, what value in share price terms does this add to the current sp, if any. Your thoughts and reasoning would be much appreciated.

[joestalin] 09/4/2008 13:00

"Can anybody see a hint of a golden cross about now on the charts?"

The words 'straw' and 'grasping' spring to mind. Try looking for the hint of a semi-submersible drilling rig.

[popen] 09/4/2008 10:27

9/5b 100% interest - how certain do you think they must be ?
"...9/5b was selected as Genesis' first target because we are
satisfied with our risk assessment on the Block."
one suggestion is that it could hold 40m barrels the block is
close to the median line and is surrounded by numerous oil and gas
and gas/condensate fields Frigg is to the East in Norwegian waters.

[haydock] 09/4/2008 09:55

Can anybody see a hint of a golden cross about now on the charts?
Looks very close, & combined with the good news yesterday, would be positive.

[rdpounder] 08/4/2008 17:56

phwoarrrr ;o)

[stoploss2] 08/4/2008 14:21

So they didn't land a slot with the Byford Dolphin after all!

At least they have managed to secure a slot with the Sedco 704, but the communication in the interim has been non-existent.

Better to be lucky than clever I guess?

SL2

[rdpounder] 08/4/2008 07:29

OUT TODAY....

Genesis Petroleum Corporation PLC
08 April 2008

Genesis Petroleum Corporation Plc
('Genesis' or the 'Company')

Drilling Contract


Genesis announces today that, subject to Government approvals, it intends to
drill its first exploration well on UK Block 9/5b during the third quarter of
2008. Genesis currently has a 100% interest in the Block and is Operator. In
addition to completing extensive 3D seismic modeling since being awarded the
Block in December 2005, Genesis has conducted multi-transient electromagnetic
(EM) profiling across the intended well location, the results of which are very
encouraging and show a clear EM anomaly indicating the potential presence of
hydrocarbons. The Company has contracted AGR Peak Well Management to undertake a
complete well services project including the provision of the Sedco 704
semi-submersible drilling rig.

Speaking for Genesis, Michael Haagaard, Chief Operating Officer, said, 'We have
a number of prospects, both in the UK and Norway, which we intend to drill in
the future. UK Block 9/5b was selected as Genesis' first target because we are
satisfied with our risk assessment on the Block. The positive response of the
electromagnetic profile cannot be regarded as conclusive but it certainly
correlates very well with our other geo-technical models outlining the potential
hydrocarbon accumulation to be tested by the well. This is a very exciting
project.'


8 April 2008