Lochard Energy Share Discussion Threads

[newswseller] 11/6/2013 12:27

Based on buying lhd and selling straight on when converted.Current offer price is equiv to 5.39p

[newswseller] 11/6/2013 12:24

Think the PMG share price is getting pumped to make this seem like a better offer. Right now offer values lhd shares at 5.2p but you can buy in the market under 4.5p

[utrecht_00] 10/6/2013 18:09

Bomfin, they usually empty the tanks at nigg onto tankers when it's reached 700k barrels.

[7kiwi] 10/6/2013 17:16

Aha, so that works out then; LHD probably have about $4.2m in WIP from their 10% share.

[bomfin] 10/6/2013 17:12

7 Kiwi. The £4.2 million is the payment that Trap got who have a 15% share in the field.

regards
bomfin

[7kiwi] 10/6/2013 17:05

bom,

I may have got confused by the capacity of the FPSO compared to the shuttle tanker.

And surely if LHD have 45 days of inventory in the tanker/at Nigg that's approx $4.5m, not £4.2m.

[bomfin] 10/6/2013 15:21

Storage facilities available at Nigg

The storage facilities available are;-
• pipeline crude oil single tank, 740,000 BBL
• 3rd party crude oil single tank, 740,000 BBL
• ballast water 2 tanks, 200,000 BBL each


Ship to ship transfer is stated as 500,000 barrels.

In my opinion there's the 45 days production!
imho dyor

[bomfin] 10/6/2013 15:16

thanks Utrecht.

I get the feeling though that payments are being dictated more by the size of the tanker that's collecting the stuff at Nigg! Reckon it could be a bigger tanker.
When Trap got their £4.2 million closing settlement they said it was to do with oil in the tanker and oil stored at Nigg. imho dyor

[newswseller] 10/6/2013 15:05

Just added 150k and 100k.. Hoping for a better bid.

[utrecht_00] 10/6/2013 14:51

Bomfin, the tanker holds 250,000 barrels.

[utrecht_00] 10/6/2013 08:58

If lhd's is so bad and precarious as the board says I wonder why Parkmead want it at 4.9p. Not aware they are a charity. Cross knows the game, he was lowballed by knoc at first and didn't want to sell out in the end. He will just have to up his dismal opening offer if he wants to get lhd.

[bomfin] 09/6/2013 09:17

If it's 45 days in arrears then they will receive one payment in a weeks time and the oil for the next payment has already been produced. Oh,yeh! that's right!

[utrecht_00] 08/6/2013 21:02

kiwi- no later than 45 days. Often its sooner.

[father_paul] 08/6/2013 16:35

From memory the 18mmbo proven producing Athena reserves are contingent on a successful remedial operation at the P1 well and 15,000bopd field production.

[7kiwi] 07/6/2013 14:01

Fraz,

Good point. It seems from CT's post that they get paid for their share of each delivery 45 days in arrears.

[frazboy] 07/6/2013 13:33

why are people assuming that the invoice is paid on arrival of a tanker at Nigg? the payments could be monthly or lumpier, who knows without clear information from the management team. and give that the sum could be material, they should have stated it in the RNS

[wbodger] 07/6/2013 13:09

PMG need immediately to release the irrevocable undertakings some waverers have given, since this bid is dead in the water. Henderson need to allow the other Board Members the freedom to invite other suitors to make other bids without facing what amounts to a blocking stake, and an influential Board Member representing Henderson votes in a conflict of interest situation.

Henderson as shareholder makes no secret of wanting this deal and might accept a low price and PMG shares, even though that might not be the best deal for everyone. That is a conflict of interest for any Henderson nominee on the Board.

(I freely confess to not thoroughly reading and digesting the rhetorical arguments deployed this morning at my expense by a Board that should have been dealing with these very issues since September. They should embarrassed by their own RNS.)

[falklands] 07/6/2013 13:00

Come on kiwi $3million off the tanker not taken account oct term used to scare holders into voting yes.

We all know your position you thought lhd was a basket case in Jan but the point I want to know is why you spend so much time on a thread and company your not invested in or financial interest in ? Just don't make sense to me. You don't get 25% wanting to vote no for no good reason to an offer.


Lastly I said before corn hill gone through the calculations ring Adam we know what we are doing to many Internet experts who don't have the full facts and I am not allowed to tell !

[7kiwi] 07/6/2013 12:55

Falklands,

Yes, the accounts Henderson repaid in June (or before). But their statement of 31/5 said October.

Also on 31/5 they said they had cash of £196K. It sounds implausible that they'll receive enough cash this month to pay off $1.7m plus interest plus 5% fee by the end of June.

[falklands] 07/6/2013 12:42

Ct indeed but I phoned spike up Few days back not happy reading last fridays RNS I am not going to say in writing their terms used but let's say not happy with tone of RNS re athena