Lochard Energy Share Discussion Threads

[utrecht_00] 12/3/2013 09:10

newswseller, lets hope so. Its been a long time since we have seen 2 days like yesterday and today. Somethings brewing.

Or maybe the market finally woke up to the fact that every day the debt reduces and cash is put in the bank.

A move to 6p in short order would be welcome to remove the chance of a low ball offer at the very least.

[newswseller] 12/3/2013 09:05

Lovely bowl on the 3 month chart, suggests a move to 6p

[sea7] 11/3/2013 19:30

Ithaca's website gives a more detailed overview of the athena field



excerpt from their website:


This evidence suggests that there is not a strong link between NTG and well productivity and therefore additional upside may exist along the northern flank of the field.

[sea7] 11/3/2013 19:16

Yes, what news, we know that we are in line for news on the licences.
As for a takeover approach, I would be sceptical of that at this time as we still have a couple of months of 50% payments to go.

I see that the rise had a few actual sells go through, some may be taking a quick 10% on any shares bought at 3.67 etc, although the overall amounts were relatively small.

This has further to run and as we bank more cash the share price should go up accordingly.

[utrecht_00] 11/3/2013 17:50

sea7, I think you are spot on news soon, question is what though.

[sea7] 11/3/2013 16:33

someone picked up 6k's worth at 4.75 at the close

[sea7] 11/3/2013 16:13

I'm betting on an announcement of sorts soon, based on the sudden increase in volume and tick up in price over the last two sessions.

[sea7] 11/3/2013 12:18

whilst we are waiting on the update regarding the remaining licences, this is where we are at the moment (as at 14 jan 2013)

Strike Oil, a company related to PGS, has farmed into 40% of P1861 covering blocks 3/5 and 3/10c, leaving Lochard with 50%. This deal was approved by DECC last week.

Additionally, Lochard has reached a deal with an un-named new North Sea operator to take over as operator on block 9/17b, and 9/22/b, 14/17, 3/5 and 10c, and the new operator will carry Lochard's development costs for those blocks for the next year. In exchange Lochard is to transfer a proportion of its current interests in these blocks to the new operator .

Talks are underway with DECC to convert these promote licences into traditional style licences and those talks are expected to be finalised in the next few weeks


That was two months ago. Wonder whats taking so long??

[newswseller] 11/3/2013 11:32

Nope.. I have enough of these under 4p already

[utrecht_00] 11/3/2013 11:28

newseller- was it yours?

[sea7] 11/3/2013 11:26

yep I see 4.38 to sell and 4.5 to buy at the mo.

[newswseller] 11/3/2013 11:21

Last trade actually a buy

[utrecht_00] 11/3/2013 10:50

this rise cannot be on the back of the non event RNS, somethings going on, news of farm out operator or the first bid perhaps?

Not bad news though, nice to see it on the up.

[sea7] 11/3/2013 10:26

Thought the rns that was just issued was going to be something else, not just a correction to the letter to cdi holders.

[newswseller] 11/3/2013 10:23

2x100k buys from Friday just reported.. Hmm

[falklands] 11/3/2013 10:06

Looks break out will see if it lasts

[newswseller] 11/3/2013 09:35

Looking better now definitely something in the background, remember those flurry of buys right at close of play on Friday

[sea7] 11/3/2013 09:08

The fact that the loan repayments to gemini are tied to production levels, is non recourse and has been classified as a production cost is a good thing, as this prevents the company from being liable for payments should production be halted for any reason. A couple more payments at this 50% level and then this monkey will be removed from the companys back.

Which will leave the much smaller monkey of 20% payments over, about two years.

[bomfin] 11/3/2013 09:07

Nice to see a tick up here.

[newswseller] 11/3/2013 09:03

Interesting buying.. News coming ?

[newswseller] 11/3/2013 08:51

You would think so, logically every month we get more cash and more loan is paid off so market cap should increase. As true EV should take into account cash and debt

[sea7] 11/3/2013 08:41

actual prices 3.95/4.2. Prices are strengthening, should move up soon.