Genesis Petroleum Share Discussion Threads

[tournesol] 08/7/2008 12:39

Does anyone have access to Jefferies?

Just wondering if they are thinking of updating last year's note which is now over 12 months old.

Couldn't resist this morning's buying opportunity and tripled up....

[joestalin] 08/7/2008 10:37

Everything has dropped today - just market volatility - nothing to worry about.

[jimarilo] 08/7/2008 08:45

No news as yet.........so why the drop ?

[barrywhit] 07/7/2008 11:06

Morning All,

Did some-one ask for the true Mt. Cap. the other day = £79,651.976 @ the current bid price of 47p........(169,472,291 shares in issue)

[barrywhit] 03/7/2008 10:16

Walking it down with no sells..........Edit 60k delayed sell started the slide..

[never_say_never] 01/7/2008 14:06

Drilling could start any day now as this is the first day of the 3rd quarter..My glass is half full yours may be half empty..onwards ever onwards....LOL... if you dont laugh you will cry. I have 2 shares in suspension so heres hoping GPC will go al the way..

[haydock] 01/7/2008 09:45

It's summer, the market & the world are on holiday!!!
Come back & talk about it in October when we could be near drilling.
Thats after Ledger day.

[never_say_never] 01/7/2008 09:35

everyone given up on this company.... We are all going to be rich so lets talk about it...LOL....

[jimarilo] 25/6/2008 23:31

Ackland,

Here is a copy of my previous post. I would think we are looking at September at the earliest, maybe even October IF we wait for the Sedco 704

"Just noticed that the Sedco 704 is currently moving towards a well on behave of OIL

Then realised OIL have taken a short term contract out with AGR for the 704.

Taken from their Q1 results below

"The Company also signed a contract for the short term assignment of the Sedco
704 semi-submersible drilling vessel at a rate of $286,000 per day. The Company takes possession of the drilling rig in May 2008 and will have use of it until August 31, 2008."

If OIL have just taken on the 704 (ie.June) the contract may be extended due to late delivery"

[barrywhit] 24/6/2008 13:52

ackland,

That 200k @ 57.5 may be the reason.......if it was a sell...

[ackland] 24/6/2008 13:41

Why the 2.5p drop today? Any views when the drilling may take place in the third quarter.

[jimarilo] 22/6/2008 01:59

The Sedco 704 currently in block 16/26a

"AHTS/Icebreaker TOR Viking - Job Reference List

AGR Peak Period: June 15, 2008 - June 20, 2008

Work: Rig move Sedco 704 UKCS from block 16/21b to block 16/26a"

[tournesol] 19/6/2008 10:06

Hi Jimarilo

yup - the nickname is a bit of a clue :~))

decided to take a break from the other place after being mugged on there a few weeks ago

don't have any position in GPC yet but am looking at it

Regards

RG

[jimarilo] 19/6/2008 08:47

Hi RG,

I think you are the same RG from the other place, if so not seen you post there for a while

Good to see you see your post here. Is GPC on your watch list or do you have a holding ?

Cheers !

[tournesol] 17/6/2008 18:38

Baht

according to the Jefferies note of May 2007, the COS for 9/5b is 33%. That might be a bit high by normal standards but the EM profiling has boosted their confidence levels.

RG

PS - the Jefferies note has been taken down from the GPC website but you can get it from Jefferies if you have a friendly broker to act as go-between.

[jimarilo] 13/6/2008 16:41

Good post Baht,

GPC for sure will not develop 9/5b 100% on their own imo

Block 9/5b will be a heavy oil play as was XEL and NPE in neighbouring blocks

Heavy oil is expensive to extract, but the current oil price helps to make extraction more economical if they find enough of the black stuff

Whether they strike a farm-out deal before or after they spud the first well is anyone's guess

It's high risk/reward to spud the first well alone, however if they have a substantial strike they will be in a better position, come a farm-out deal

We will just have to sit tight for this to unravel ;-)

[baht] 13/6/2008 16:21

The Sedco 704 drilling rig.

[baht] 13/6/2008 15:58

Jimarilo post 361 I've just been looking at the GPC Drilling Contract RNS from April. (quoted below) The most interesting part in the light of your post is "Genesis currently has a 100% interest in the Block".

Oilexco look to buy into lower risk exploration and already have a foothold in several N.Sea plays. The GPC statement makes it sound as though a farm out to remove the cost of drilling form the project might be being considered. If not being considered why didn't the RNS simply say GPC has a 100% not "currently has"????

Could OIL be a joint venture/farm out participant. Any thoughts anyone.

Also does anyone have a view on GPC's impression of the prospects for 9/5b. It is not clear from the rns if GPC think this is the best prospect for Oil discovery of the licences they hold or just the best compromise between prospects and ease or cost etc etc.


8 April 2008 - 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."

[pr4w2b0y] 13/6/2008 15:09

.Name Shares held Percentage of issued share capital*
Richard Griffiths 64,697,432 21.39
Ospraie AG Science 64,154,361 21.21
1798 Volantis 27,533,547 9.10
Scobie Ward 16,848,280 5.57
Boulder River Capital Corporation and its affiliates 15,365,253 5.08
Spreadex Limited 10,831,858 3.58

[rdpounder] 13/6/2008 08:50

Yeah, 'bout time for a fresh thread I reckon. Nice informative summary in the header

[pr4w2b0y] 13/6/2008 00:00

free stock charts from uk.advfn.com






Holder
Shares
% Held


Lansdowne Partners (UK) LLPas of 30 Sept 2017
98.94m
9.74%


Oceanwood Capital Management LLPas of 30 Sept 2017
75.23m
7.40%


Lombard Odier Asset Management (Europe) Ltd.as of 30 Sept 2017
51.01m
5.02%


Henderson Global Investors Ltd.as of 1 Jun 2018
34.29m
3.37%


Northern Trust Global Investments Ltd.as of 1 Jun 2018
36.23m
3.57%


Ruffer LLP.as of 1 Jun 2018
13.45m
1.32%


Hargreaves Lansdown Stockbrokers Ltd.as of 1 Jun 2018
19.90m
1.96%


Baring Asset Management Ltd.as of 01 Sep 2017
6.12m
0.60%


HSBC Global Asset Management (UK) Ltd.as of 1 Jun 2018
9.49m
0.93%


West Yorkshire Pension Fund.as of 1 Jun 2018
6.39m
0.63%

[jimarilo] 12/6/2008 23:52

Just noticed that the Sedco 704 is currently moving towards a well on behave of OIL

Then realised OIL have taken a short term contract out with AGR for the 704.

Taken from their Q1 results below

"The Company also signed a contract for the short term assignment of the Sedco
704 semi-submersible drilling vessel at a rate of $286,000 per day. The Company takes possession of the drilling rig in May 2008 and will have use of it until August 31, 2008."

If OIL have just taken on the 704 the contract may be extended due to late delivery

Patience required yet again, but this is the oil business ;-)