Lochard Energy Share Discussion Threads

[sea7] 28/3/2013 08:31

from trap oil's results today:-

Under the revised terms, we are delighted to now be part of the Athena consortium and are currently benefiting from extended plateau production at a rate of approximately 10,800bopd. It is not yet possible to comment with any degree of comfort on the ultimate recoverable reserves but we are satisfied that the price paid reflects an anticipated recovery in the 'low to mid teens' million barrels of oil reserves.

Production as it currently stands is forecast to deliver a pay back period of approximately one year and our anticipated return on investment, based on our projections, should ultimately prove to be attractive.

[sea7] 28/3/2013 08:06

Haydn picking up a few more, as you say falklands, he knows more about this than anyone else.

He will have knowledge that will only be known by a few and does not have to be rns'd, his confidence in his former company speaks volumes.

[falklands] 28/3/2013 07:56

cannot be bad UT methinks he knows more about sale than us PIs

[utrecht_00] 28/3/2013 07:54

Ex ceo picks up a few more. Cant be bad.

[falklands] 27/3/2013 17:47

Paid off Henderson gap methinks and legal costs

[wbodger] 27/3/2013 16:42

Re Falklands (#899), 3m barrels is worth $327 million * 5% to Gemini, so I'm not sure why the first $14 million isn't paid off already (anyone?).

3 mmbo is 12 cargoes and I figured there were that many by mid February. I have cargo #11 around end of Dec, and one of those was short (switched tanker half full). Looks like they had reduction in late January-early Feb, but back to 10,000 bopd now.

[utrecht_00] 27/3/2013 15:53

Lhd, looking better and better by the week. Very tidy company now with costs about as low as you can get.

[therealdeal5] 27/3/2013 15:38

There i was ranting about how Antrim have been trading at 32p ish when we should be at that level & Bam an RNS out of the blue takes them down big trouble over on the boards, FSA being brought into it by posters etc, feel sorry for them,

[falklands] 27/3/2013 10:30

W a small reduction already produced 3m see iae presentation on their website

[therealdeal5] 27/3/2013 08:36

Sea Cheers fella that is amazing never seen anyhthing like that before, are you sure that's the North sea? it's like a sheet of Glass, lol, enjoyed it fella, Cheers again,

[sea7] 27/3/2013 08:24

As far as I am concerned, the bod have put all the measures in place to clear up the legacy issues and position the company so that it is in the best place possible for a buyer. One issue that the company has no real control over is the time that must pass before all these measures come to fruition. For us, as holders, it is the patience that is needed and the confidence to add to positions on any weakness. Even if no buyer comes forward in the near term, we will reach the point in very short order where significantly larger amounts of cash will be arriving in the accounts and the market cap will start to be comprised of mainly cash.

The announcement of the new operator of the licences and their plans and subsequent costs to lochard in the future is something else to look forward to.

Whilst we wait, this is a link to the "petrex 3D animation services" short animation of the ithaca athena field development overview, if anyone fancies watching it. (only 2mins)

[bomfin] 27/3/2013 08:02

Also reserves estimates in a field with a production history are far more informed guesses than before production starts. They have all the well information, pressure readings etc. imhodyor

[therealdeal5] 27/3/2013 07:37

Guys surely a producing field is worth more than a field that still needs approval from DECC? so with a producing field already pushing out oil at the rate of approx 2,200 BOPD has to have a Premium attached to it is what i'm trying to say i suppose, it's income & in this climate that's what companies need to borrow against, time will tell, i reckon we may just get a nice little surprise here when a deal comes in, GLTA,

[therealdeal5] 26/3/2013 21:18

That's what I am full of these days Patience, if I was in here at silly high prices I would be a lot more unsettled about this, a bit like Encore Oil when that happened,

[wbodger] 26/3/2013 17:53

No more than any other. I suppose a buyer always hopes the assessor has been conservative, but it's bound to be a punt, which is why interested parties aren't going to make toppy predictions. And LHD aren't really in a position to make exaggerated claims. Patience.

[therealdeal5] 26/3/2013 16:22

do they really know the size of this field for sure? or are they guestimating?

[therealdeal5] 26/3/2013 16:21

wbodger grateful thanks,

[wbodger] 26/3/2013 16:20

Yeah but that is a reduction, no? Previously 26.1 mmbo, from memory. It is balanced by the continued good news about dry oil.

Paul Curtis' interview as a Trap investor, in which Trap implied that because of continued dry production 14 mmbo recoverable from Athena looks solid, on my own figures that figure would justify a cash flow to LHD shareholders of 10 pence per share upwards. It depends on OPEX and decommissioning, and of course a bidder would have to bid low enough to make a profit. But P50 is only a median, and refers to oil initially in place so there's still lots to argue over, ie. recovery percentage and potential upside for a purchaser.

Above 14mmbo recovered, one extra mmbo is worth 9.5% of $108 million Gross to LHD, (£6.5 million). (To be reduced by OPEX, costs, decommissioning etc.) That should still leave 1.5 pence/share for each mmbo over 14 mmbo. Just as a rough guide.

[falklands] 26/3/2013 15:16

One interesting point today Iae results Athena 22.6 million gross p2 and no confirmed work over so no nasty costs to lhd in the next 12 months.

[therealdeal5] 26/3/2013 14:44

Falklands i have re-read your post, maybe i was a bit harsh on you but you got my back up when you said the following

"The only one pumping so far seems to be you there deal with multi posts.

I like your positive posts but can you post less in a day? It's clear your trading this and good luck but there is no wool over long termers eyes."

For your information i am NOT trading these why would you think that? i ask because no references have been made to that affect in my posts, i am here for takeover ONLY, i have made that clear from the start, how have i been pumping these? surely if you are in here like you say then you want this to rise like all of us? i will give you another chance to be civil & not try to assume you know what i am doing, there seems to be a lot of touchy people on these boards why??

regards

TRD5

[falklands] 26/3/2013 14:42

Shhhh now.

[therealdeal5] 26/3/2013 14:37

as silly as you have, lol, i wish i was 18 again those were the years, as for your age we can only guess as to your post to me first, rude little man is what you are, keep giving it the biggun stalker, lol

[falklands] 26/3/2013 14:25

Dear me and we should take note from an idiot like this who knows nothing about lhd, are you 18. Can you read, understand or speak adult ? As for holdings I have no Falklands oilies and you really do not know who I am so please don't make yourself look silly.

Naughty boy caught out methinks to an adult balanced post total over reaction.