Share Name Share Symbol Market Type Share ISIN Share Description
Genesis Petroleum Corporation LSE:GPC London Ordinary Share GB00B1435395 ORD 3P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 8.50p 0.00p 0.00p - - - 0 06:30:09
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers - - - - 14.41

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Date Time Title Posts
25/7/201422:52Genisis the begenning of oil findings241
02/1/201222:26Genesis Petroleum Corporation Plc739
06/6/201022:43Gold Price Crash, can it happen?12
30/6/200809:32Genesis Petroleum: Awakening, from darkness to blue sky4
07/9/200714:21GENESIS Petroleum Corporation Plc3,663

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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.
rdpounder: Err, no share price rise in expectation of drilling results!?!
barrywhit: Morning All, Unless there is a delayed sell to show later, then it is probably the MM's looking for a few shares, as i have said before there aren't many shares in free float as you can see by the share price movement, almost all trades change the price there are only 5 Market Makers trading in GPC........
jimarilo: Jefferies International Ltd : research note Based on our long run Brent oil price assumption of $48 per barrel our risked valuation for Genesis Petroleum is 56 p/share (unrisked 296 p/share). We give no value to the current cash position of around £13m as we expect that these funds will be spent on the drilling campaign. Nevertheless, at present the net cash position alone supports a share price of 13 p/share. Conclusion - a transformed company, with extensive drilling likely in 2008 The participation of two important Norwegian partners has very positive implications for the financial support and the overall direction of the company. With one transaction Genesis now has the funding to participate in a substantial drilling program, and the industry backing and support to expand its license base and participate in further exploration activities. We expect that over the coming months the portfolio is likely to change, with the most important additions likely to be the company's first licenses in the Norwegian North Sea. Though major drilling catalysts are not likely this year, we believe that the increase and modification of license interests, announcements regarding drilling plans, and growing awareness of Genesis' improved financial and operational circumstances, will act as lower key but still substantial share price drivers. The combination of strong, long term industry support and the benefits which we expect to flow from that backing, and a risked valuation of 56 p/share that indicates 87% upside, leads us to reiterate our Buy recommendation. Of course since the above valuation the Norwegian licenses have been awarded Block 33/12 (Part) Genesis Norway 25% Maersk 35% Wintershall (Operator) 40% Blocks 34/8, 9, 11 (parts) Genesis Norway 20% Maersk 20% Wintershall 20% Nexen (Operator) 40%
barrywhit: BD5, From the research note "Genesis now has funds for drilling, and the company expects to take part in up to four; substantial potential exploration wells in 2008" "Drilling is a key catalyst for share price change, but we think it is more important in coming months for Genesis, and its key partners Conoco and Lundin, to high-grade the portfolio, We expect that this will lead to changes in Genesis' asset base, through by farm-in and -out as well as new licenses".... Have a very strong positive feeling for this company, with their Seismic data base and their tie-up with Aker Group and PSG......looks like a very good long-term hold..........IMHO
barrywhit: I'm suprised the company haven't put out a statement, saying they know of no reason why this increase in share price has occured........that is normally the nail in the
barrywhit: reggie, I wouldn't think they are too concerned about the small amount owned by P/I's.. they were happy to pay above the going rate at the placing, that is very unusual for a small AIM company.....i expect the share price to move forward fairly quickly, any drilling programme news and we should see quite a spike up....imho
barrywhit: Placing admitted today........share price opens at placing price......onwards and upwards.......imho
rdpounder: ZE, share price consolidation
boite mobile: Don - No not very well as I went into the original cash shell and the directors etc have all changed. I do however think the prospects are better than average. The current management were I think mistaken in the timing of the consolidation and that has done much to harm rather than help the sp, but this seems to be their only error. Hopefully this will, in a year or two's time simply be a dip on an otherwise profitable graph! Future share price in 1 year's time? No target, but I expect to see it rise if awarded further licences in GB N.Sea or via subsidiary in Norway N.Sea. I think that within 6 months we will also get some news of developments overseas as I do not believe their current endeavours are confined to the North Sea. If all goes according to plan Nov 2007 share price could/should be £1+ but that will be just wishful thinking without success on the ground or should that be under the ground! The current board are not novices and I think that there are a number of signs to suggest that they stand a better chance than many in making a success of turning a minnow into a medium sized player, with share price performance to match.
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