Kea Petroleum Share Discussion Threads

[mike111d] 08/9/2014 18:22

Agreed Loverat hence my comment RE working hard but not smart, not looking too clever IMO.

[flasher2] 08/9/2014 18:10

And can you move the target price down to 0.12??.

[trav1s] 08/9/2014 18:10

Oh look, it's the english pensioner who wants to be scottish, you couldn't make it up!

[travls] 08/9/2014 18:09

Broker reiterates STRONG SELL stance and target price of 0.02p
before administration

[travls] 08/9/2014 18:09

Broker reiterates STRONG SELL stance and target price of 0.02p
before administration

[trav1s] 08/9/2014 18:04

Oh look, it's the english pensioner who wants to be scottish, you couldn't make it up!

[travls] 08/9/2014 17:55

This company is bust along with Tangiers, Tower and Sefton.

[loverat] 08/9/2014 17:50

Seems to me like the management trying to talk up the prospects but the reality in my opinion is this company is in trouble. The directors have made a pigs ear of this I think and not managed expectations here well.

Not surprised at the fall.

[travls] 08/9/2014 17:44

Broker reiterates STRONG SELL stance and target price of 0.02p
before administration

[oldtown] 08/9/2014 17:43

travis to do like Still game? i am a fan.
Fav episode is probbaly a fresh lick.

[gaywood 4u] 08/9/2014 17:38

Looks like another of loonie special, a minus -80% loss

[trav1s] 08/9/2014 17:38

Travls 8 Sep'14 - 17:34 - 8507 of 8507 0 0

Broker reiterates STRONG SELL stance and target price of 0.02p
before administration










Oh look, it's the english pensioner who wants to be scottish, you couldn't make it up!

[travls] 08/9/2014 17:34

Broker reiterates STRONG SELL stance and target price of 0.02p
before administration

[mariopeter] 08/9/2014 16:10

Get you Oldtown. I really think KEA and MEO will struggle with this unless the Douglas well comes in too. TAG oil, however, can make it work. Their overheads are fixed and set already and they can get a drilled well to chuck off $65 a barrel surplus cash from these tricky sands. TAG Oil are showing good profits from Taranaki and clearly have reached critical mass. They have cash and pipelines beside us already and are short of oil. That appears to be a great fit.

KEA still overpriced though.

[soul limbo] 08/9/2014 14:32

such companies are run solely for the management. When admin costs munch up any revenue that is generated it should ring massive alarm bells. There is no value returned to shareholders. In order for the management to continue enjoying the gravy train, they do everything and anything to keep the company going and so resort to such desperate fund raisings like death spiral financing (ie Darwin)

[oldtown] 08/9/2014 14:23

let's break it down to the lowest form so the likes of Carla can understand, even if everything Mario said was correct, let's presume it is.
How does that equate to .5p actual shareholder value? If the pukka assets were bought out at .5p per share eqivilant or even more the shareholders would not get it would they?
The huge admin costs would soon eat into any figure for the sold assets.
I don't understand how those figures relate to actual shareholder value.

[carla1] 08/9/2014 13:58

really ???

[oldtown] 08/9/2014 13:52

I repsect your opinion Mario however
I don't see the net cash at 1 million and i don't see reserves valued by others at £6 per barrel,even if they had 100 million barrels underground when the cost of actually bringing that oil up and constant workovers to maintain production equates to possible more than it can be sold for.

i see value as negligible, i think they will tap shareholders at .2p
aimho

Where was any update in these admin costs cuts ?

[mariopeter] 08/9/2014 13:46

Old town in this presentation (see below the MEO site) 3c reserves of 3mmbo. I actually am using 2mmbo at $6 per barrel, i value douglas at £1m and I am estimating cash of £1m and then I use 900m shares in issue after Darwin finished. I then discount all of that by 35% (as no company is worth all of its assets) and get .5p .

[oldtown] 08/9/2014 13:35

mariopeter
drop off on these kind of wells can be horrific, i dont think they will be paying much for puka.
I note the use of the word "around" today in the update rather than the actual amount, very interesting.

[bad robot] 08/9/2014 13:33

IT WAS SAYING GKP WAS VERY CHEAP @ 85P A WEEK OR SO AGO :(

ANOTHER SMALL HOLDING WHEN ALWAYS SINKING

[j8grc] 08/9/2014 13:28

Asturius101,

Technically oversold maybe, but in it's current position irrelevant for a AIM stock.
'Darwin' wouldn't have taken a substantial short position below 0.9p to lose money. They are much closer to the picture than the speculators/gamblers here!