Genesis Petroleum Share Discussion Threads

[barrywhit] 27/4/2009 15:29

We still have buyers coming in, although a lot on extended settlement "C" trades.....still up is always good.........

Mind you saying that i always buy on "T20"

[jammytass] 27/4/2009 15:25

aneverydaystory> there is a small chance that there might be a merger or buy out
top up while u can

[aneverydaystory] 27/4/2009 15:23

I agree barrywhit. My instincts are better these days than a few years ago if my current trading is anything to go buy (do you see what I did there). Though I've always had a good feeling about GPC, my timing and self-discipline was way off back then. I think over the next few months I'm likely to add to my holding but I don't think I need to hurry into it just yet.

[wookie77] 27/4/2009 15:22

yes doesnt make sense to sell just when it begins to rise back to where it came from!

[barrywhit] 27/4/2009 15:19

I don't think you will see many sellers at this price 5dally, most paid a lot higher.......imho

[barrywhit] 27/4/2009 15:17

Your shout aneverydaystory, i have always thought this had a good chance due to the Norwegian backing and licenses.....but you pays your money and you takes your choice.......good luck..

[5dally] 27/4/2009 15:15

Something going on ? just a wall of buy's

[barrywhit] 27/4/2009 15:14

Tight spread now: 8.75/9.0

[aneverydaystory] 27/4/2009 15:13

How confident are people about GPC on this post? I bought way back to keep in the bottom draw and forgot about them. When I last looked they were under 10p (I bought at 142p effectively!!). Now there's a bit of action I'm tempted to buy some more in a vain and desperate attempt to bring the average down. I'm just trying to work out if its now the right time, or whether that's another mistake.

[barrywhit] 27/4/2009 15:10

Your guess is as good as mine Jammytass, may be a drilling programme...

[jammytass] 27/4/2009 15:08

is there a bid on the way????

[barrywhit] 27/4/2009 15:01

They have closed the spread: now 8.5/9.0

[wookie77] 27/4/2009 14:55

trading volume on course for biggest day in over a year. Sorry but something is leaking here. Also people have been happy to buy on a 30% spread on occasions which is always a decent test of a purchasers conviction!

[barrywhit] 27/4/2009 13:59

Wookie,

Only looks like P.I's buying as some are extended settlement, may have been a broker note?....but they have lifted the bid now......

[wookie77] 27/4/2009 13:47

Dont think so, but something going on here. Obvious renewed affection in North Sea interest helps. But maybe GPC could be taken out at this price for their acreage. Cant see any other reasons aside from general rerating?

[barrywhit] 27/4/2009 13:16

Has this been tipped anywhere, only quite a bit of buying going through, for GPC anyway........they have obviously got an overhang of stock as the offer has gone up but not the bid........

[haydock] 27/4/2009 10:57

However it's lights camera action from now on.

Just about the right call: more good buyers today.

Patience is the key, bottom drawer job, just take out & examine occasionally.

[barrywhit] 24/4/2009 16:30

A little bit of activity today.........

[haydock] 24/4/2009 10:27

From an oilbarrel item :

All this is good news for the likes of North Sea stalwarts like Venture Production and Dana Petroleum, which are active traders of assets and infrastructure, or the heavy oil specialist Nautical Petroleum.

The news was welcomed by industry. "The measures announced today are a positive step for those companies trying to develop small and challenging fields in this mature, high cost province," said Malcolm Webb, chief executive of offshore operators lobby group Oil & Gas UK. "However, we now need to direct our attention to sustaining and promoting investment in and around many of our older fields to prolong their lives, to stimulating exploration activity and to opening up the frontier areas west of Shetland and in that regard, we welcome the Government's offer of a continued dialogue."

He added, however: "We must not forget that a number of small companies involved in exploration, the lifeblood of the industry, are suffering severely from the lack of access to equity markets and we regret that the Chancellor did not act on our recommendations to improve funding of this crucial activity."

This is a key point. While the Budget changes are helpful, it may be too little too late for many players in the North Sea. First, oil and gas prices have fallen as world economies have slowed, which makes it difficult to justify investment in a high cost, mature oil and gas province. Second, the small exploration companies that were attracted to the UKCS by its Promote and Fallow Field policies are now fighting for their very survival as their funding has been choked off by the banking crisis. The very Government that held out some relief to the North Sea industry yesterday is also the very same Government that, because of its handling of the economy and tinkering with the UKCS fiscal regime over the last decade, has made life so difficult for companies to operate here.

[haydock] 24/4/2009 10:06

The new terms for the n/sea should work through to the share price in the end.
However it's lights camera action from now on.

Offshore247.com » News » Licensing » |-| United Kingdom
Elixir extended on Leopard
Published 24.04.2009 09:21:35 by John BradburyNorth Sea explorer Elixir Petroleum says it has been given an extended deadline by the UK government over whether or not to drill on or drop the licence covering the potentially large Leopard prospect which is thought could contain up to 350 m bbl of oil and which remains one of the largest undrilled prospects in the sector.

Britain's Department of the Environment and Climate Change has given Elixir more time to make the drill or drop commitment to the licence covering Northern North Sea block 211/18b where the Leopard prospect is located.

After the licence area was granted back in 2005, Elixir was given a later deadline extension which expires this month.

Now the company says it has been given a further licence extension by the DECC which expires on 21 December this year. By that date, Elixir either has to start drilling Leopard or relinquish the licence.

"The waiver will allow us to continue the detailed discussions we currently have on foot with several interested parties with a view to securing a further partner to participate in the drilling of the Leopard prospect," said Elixir managing director Andrew Ross.

[barrywhit] 20/4/2009 14:22

Thanks for the info......

[tournesol] 20/4/2009 10:05

I've spoken with the co and they have not yet decided when the AGM will take place.

[barrywhit] 15/4/2009 12:26

tournesol,

It was at their solicitors last year, London......no announcement yet for this year........

[tournesol] 15/4/2009 01:53

Anyone know when/where the AGM is to be held?