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Posted at 23/1/2008 07:28 by mr multibagger AIM listed TomCo Energy PLC [TOM]The following write up is in Oilbarrel today: Good summary for new investors. 23.01.2008 TomCo Energy Seeks Development Position In Israel As It Asks Patience Of US Oil Shale Investors. It is 12 months since TomCo Energy made its first foray into the oil and gas business. Last January the AIM-quoted company, then known as Netcentric Systems, completed a reverse takeover of The Oil Mining Company Inc, which owned almost 3,000 acres of oil shale leases in Utah, USA. Netcentric became TomCo, rejoined AIM and raised £1.78 million through a placing priced at 2.5 pence. Oil shale is a long term play. TomCo's leases are reckoned to hold some 230 million barrels of oil but the big challenge is not finding the oil but extracting it in an economic and environmentally-sens Until then, the company has put its oil shale assets on the shelf and will sustain itself in the interim by investing in low-cost, low-risk conventional oil production. The AIM company made its first investment in January 2007 when it spent US$56,000 acquiring a 40 per cent interest in the Flusche oil prospect in Texas. There followed a flurry of other investments as the newly-minted AIM company sought to establish a conventional oil business in the US and cash in on booming commodity prices. These investments have resulted in a dribble of production, around 16 barrels per day although at current oil prices every barrel counts. Not all the investments were successful, with leases in Tennessee and New Mexico dropped after disappointing exploration results and while that debut investment, the Flusche, created initial excitement when it started producing around 28 bpd, it later disappointed when output declined to 6 bpd. The company's Rock Crossing well in Texas produces around 8 to 9 bpd and additional offset locations are being considered for future drilling. Production rose in the second part of the year after the company spent US$972,000 on a 50 per cent interest in the Abel and Saratoga leases that lie some 15 miles apart in south-eastern Texas. Abel covers 100 acres on a salt dome structure and produces some 15 bpd from three wells. TomCo and its 50/50 partner Mark III Energy, which together have an 82 per cent net revenue interest in the project, plan to drill another ten wells over the next two years that should yield initial production of 20 bpd per well. The Saratoga lease is another salt dome structure and is home to six producing wells that together produce 20 bpd. TomCo and Mark III, which have a 97 per cent net revenue interest, plan to drill seven wells over the next two years. This is shallow production, with each well yielding small quantities of oil, but as long as costs can be kept down it's a reasonable business and will help keep the lights on. Now, one year on from its formation, and the company has made its biggest investment to date, and its first venture overseas. TomCo has signed a letter of intent with New York-based Avenue Group Inc to acquire a 50 per cent interest in the Heletz-Kokhav licence, Israel's only onshore producing field. The 50 million barrel oilfield, which lies 55 km south of Tel Aviv and 12 km from the coast, has produced more than 17 million barrels to date from Cretaceous sands. Production peaked at 3,000 to 4,200 bpd in the 1960s but is today running at around 60 bpd. TomCo believes there is potential to significantly increase this number by drilling new wells and deploying modern recovery methods. The Israeli Government believes there are 2 million barrels of primary recoverable oil remaining, with the possibility for up to 10 million barrels using secondary recovery techniques. There are also a number of undrilled, deeper exploration prospects on the licence that could yield another 30 million barrels. TomCo must first turn the LOI into a binding contract. It has around three months to sign a definitive agreement, which will then commit it to paying US$1 million in cash, US$0.5 million in shares and around US$100,000 of Avenue's back costs. TomCo will then pay US$4.5 million of development costs over the first three years of the licence plus a further US$1.5 million to Avenue should production reach 300 bpd, thereby triggering the issue of a 30-year-production lease. It will also pay Avenue US$5 million should the recoverable reserves exceed 10 million barrels. TomCo's chief executive Howard Crosby described Heletz-Kokhav as "highly potential", adding the field will "create new horizons and will be an important investment". It's a nice diversification from shallow oil drilling in the US and, again, it's low risk: the oil is there, it's just a question of getting it out economically. In the meantime, those oil shale assets remain on the shelf. The big hope for TomCo investors is that technological advances, wedded to political and strategic pressures to produce more domestic energy, gives the US oil shale industry a major push and boosts the value of those currently dormant assets. |
Posted at 17/1/2008 07:23 by mr multibagger For those who invest overseas....Very interesting newly listed NATURAL RESOURCES play over in Canada namely Lydian International [TSE:LYD] Major investors include the WORLD BANK and NEWMONT MINING |
Posted at 03/1/2008 02:47 by steelwatch I propose Irvine Energy (IVE) as a potential multibagger. Recent placing provides funds to kickstart workover and exploration activity and there should be good newsflow thru 2008."Nigel Mills, of WH Ireland, who won in 2004 and 2005 with exploration firms, sticks with the sector. His selection is Irvine Energy, an AIM-listed oil and gas exploration business operating in the US. Nigel is an investor in Irvine". |
Posted at 01/1/2008 19:22 by tadtech My choice in 2008 is PTR now 34pMy posting from earlier today outlines the company IMO. Shrewd investors with a medium term view may like to take a look at PTR. Shares fallen from mid 60's on funding issues, the Russian political situation and Irish Exchange leveraged selling a while back. Since then PTR have made an unexpected cost saving of c$50m (announced 9 days ago) the political situation in Russia is improving (ex Gazprom Chief expected to replace Putin) and the leveraged situation has now cleared. PTR are capped at only £60m The Directors have been major buyers of stock over the last year and also fully subscribed in the recent placing at 50p. The company is currently fully funded, a reserve upgrade expected (anytime) and in Q1 more drilling activity starts. The companies proven reserves more that cover the current valuation. The shares are in uptrend, I expect to see these return to former levels on fundamentals with further upside coming later in the way of increasing news flow and online production starting early 2009. |
Posted at 01/1/2008 19:17 by tadtech Whilst this is not IMO a 10 bagger I do see the potential for a multi bag. Irish and AIM listed Petroneft (PTR) currently 34p. My writings earlier summarises the company IMOShrewd investors with a medium term view may like to take a look at PTR. Shares fallen from mid 60's on funding issues, the Russian political situation and Irish Exchange leveraged selling a while back. Since then PTR have made an unexpected cost saving of c$50m (announced 9 days ago) the political situation in Russia is improving (ex Gazprom Chief expected to replace Putin) and the leveraged situation has now cleared. PTR are capped at only £60m The Directors have been major buyers of stock over the last year and also fully subscribed in the recent placing at 50p. The company is currently fully funded, a reserve upgrade expected (anytime) and in Q1 more drilling activity starts. The companies proven reserves more that cover the current valuation. The shares are in uptrend, I expect to see these return to former levels on fundamentals with further upside coming later in the way of increasing news flow and online production starting early 2009. |
Posted at 01/1/2008 15:51 by hatto PETREL RESOURCES (PET) 117p OFFER. Firstly read up PET's August 2007 presentation. Plus the 2007 Interim Results. Plus read everyone of the 119 posts currently on this PET news thread. Having done the above I believe anyone would be interested in buying PET. Could/Should easily double in 2008. IMHO ADYOR |
Posted at 01/1/2008 11:38 by mr multibagger AIM listed TomCo Energy PLC [TOM]TomCo holds significant strategic Oil Shale reserves in the Green River Formation of Utah. Recent geological reports received by the company have shown that these oil shale leases have projected oil reserves of approximately 230 million barrels. The Company's strategy is two-pronged: Firstly to hold the TomCo leases as a long term asset to be exploited when the commercial conditions are suitable, expected to be within 6 years. Secondly, to acquire and develop conventional oil assets in the USA. Led by Howard Crosby and John Ryan, the Company will concentrate principally on acquiring participations in shallow producing oil wells and proven drilling prospects, principally by leveraging their expertise and extensive industry contacts. TomCo will invest in oil properties with fully engineered, proven, developed producing wells (PDPS) and proven undeveloped locations (PUDS). These smaller acquisitions can be obtained at prices that would give Tomco significant profit potential. Based on the experience gained from Cadence Resources more oil than gas production will be purchased due to the much quicker pay back time. Both CEO Howard Crosby and CFO John Ryan have superb track records in the natural resources sector in the USA with their latest company [NASDAQ listed Cadence Resources] for example being a serious multi bagger [MKT CAP went from under $500K to $450M within 5 years before being taken over although it should be pointed out that $40M or so was raised on the way]. Based on the experience gained from Cadence Resources the financing for the upcoming TomCo Energy oil deals really does seem to be a very misunderstood area, but the fact is that most of the financing comes in the form of non equity! For example debt secured against the oil production with only relatively small amounts of equity required is one of the main and most obvious ways. There are also of course other forms of "non-equity" financing deals that can be done. For example a group of investors could put in X amount of millions of $'s in return for a very attractive slice of the action [majority] whilst TomCo Energy still get well rewarded [significant minority] without having to put any money up....only the well known skills of Howard Crosby and his gang of Oilers with sh*t all over their boots! Howard Crosby and John Ryan are looking to grow TomCo Energy PLC to at least the same size as Cadence Resources Inc over the next few years.....which would equate to a share price of more than 50p...and then throw in the oil shale leases and £1+ is more than possible! And all for only 2p! |
Posted at 31/12/2007 12:55 by tinker tailor How about BSP who is trading at .425 mid and just announced this news on one of their many investments.Brainspark Geosim financing update RNS Number:8374K Brainspark PLC 31 December 2007 For immediate release 31 December 2007 Brainspark plc ("Brainspark" or the "Company") Geosim Systems Limited ("Geosim") already secures $ 1,035,000 in a new $3M round of financing. Further to the announcement of 24 September 2007, Brainspark is today announcing that GeoSim (www.geosim.co.il), the 3D city technology and modelling producer, in which Brainspark has a holding, has raised already from investors in America $1,035,000 (£520,579 ) of the current round of $3,000,000 (£1,508,925) at a pre-money valuation of $22,000,000 (£11,065,452). After the exercise of approved ESOP and post conversion by Crash LLC of their options and "Bonus Warrants" Brainspark fully diluted will be interested in (39.53%) of GeoSim. On full subscription of the remaining $1,965,000 of the current $3,000,000 (£1,508,925) round, the holding by Brainspark in Geosim will be diluted to (34.7%). At a GeoSim valuation of $22,000,000 (£11,065,452) Brainspark's (37.40%) equity held in GeoSim is valued at $8,228,000 (£4,138,479). This alone is equivalent to 1.25p per share. The value of GeoSim in the books (Balance Sheet) of Brainspark is £1.83 million. Geosim has developed a unique 3D city modelling technology. Applications include urban planning and development, tourism, estate agency, law enforcement, advertising, entertainment and the security and rescue services. The new Philadelphia 3D online website is due for launch before year-end. |
Posted at 24/12/2007 16:52 by mr multibagger Can you start making millions in 2008? DAVID HORGAN THERE are a thousand ways to make millions but big profits are made when you change the rules of the game, usually through enterprise and risk-taking. It's not the strongest or the most intelligent who prevail, but those most adaptive to change. Over time, the need for adaptability will accelerate. The drive for progress is the deep human urge to explore, create, challenge, achieve and improve. Yet victory in the long race goes to the tortoise rather than the hare. Ideas that failed previously may work in future. History may be a guide to the future, but it isn't the future. It's not what you don't know but what think you know that isn't so that's the problem. Starbucks, iPods and Riverdance show what can happen when you understand and exploit a cultural context. Market size can be greater and price sensitivity lower than conventional models or past experience indicates. Build on something you're interested in . . . that way you'll enjoy the experience even if you fail or take years to succeed. But you won't do it, as Dolly Parton says, 'working nine to five'. Advances come from challenging orthodoxy: management is about breaking existing models and creating new paradigms, yet we devote 90% of our energy to fine-tuning existing paradigms and squeezing incremental value out of them. Remember that money comes with strings. The Golden Rule is, 'he who has the gold makes the rules'. Financial players often extract an unfair share of the fruits of entrepreneurs' sweat. Some of the shrewdest investment decisions are extortionate offers you decline. There's opportunity everywhere. Twenty years ago people thought Ireland was a write-off. Airlines were slowing growth, stalemate industries that competed returns away. But Ryanair took the short-haul discount sector by the scruff of the neck and changed the rules by challenging assumptions. Anglo-Irish Bank, despite recent challenges, commanded high fees in a supposedly over-banked market: it extracted a premium by making quick decisions. Much property development money was made by tradesmen or builders without any formal business education. They're now losing much of it, but they will bounce back. They will not lose their appetite for risk. One of our companies, African Diamonds, was launched just six years ago but has already jointventured what will be De Beers' biggest diamond mine since 1980, and just the 20th diamond mine worldwide. This was done with minimal shareholder dilution by careful husbanding of resources. You get what you negotiate, not what you deserve! Petrel Resources won the biggest Iraqi oil development contract under the noses of oily super-majors. Pan Andean may be the first international oil & gas junior into Iran. Like TS Eliot, 'we shall not cease from exploration'. Think for yourself . . . great breakthroughs are made when people successfully challenge orthodoxy. If you're a farmer, look to the competitive future rather than protected past. Diversify from commodities into eco-tourism, innovative products like new cheeses or biotic foods. Carlow-based 'Hot Irishman' lives on the family farm but sells his Irish Coffee mix worldwide, combining a local product with desired lifestyle and marketing "air. Just do it, and keep trying things until something works. Never mind the begrudgers. Avoid property, unless you've closed out all risk. Recovery will take time. Yields are still insufficient and values excessive. In the longer term, the best way to save is by means of a diversified portfolio of blue-chip equities. The Irish market is now excellent long-term value, exactly because investors are wary. The commodities boom will last for another decade, though there will be periodic corrections. These give chances to build exposure in a capital-intensive, long-term business. Incumbent companies become remote from customers due to cumbersome processes. Seek opportunities that help customers by simplifying their lives in a complex world. Einstein said: "Everything should be made as simple as possible, but not simpler". Don't bet against China and India. If you're in manufacturing you'd better have an advantage in location or speed of response. If you can't compete on cost you can compete on service. Otherwise your customers had better be priceinsensitive and inert. Forget about stitching T-shirts or commodity engineering. Move up the food chain. Crisis can be hidden luck: Richard Murphy's Xtra-vision fortune was built on a compo payment. Irish people don't recognise their unique oil-and-water mix of "air and thought . . . we can beat the world if we let ourselves. Don't worry about capital, that's a commodity. What we're short of is vision. Take risks, live the dream. Setbacks are useful feedback. Opportunity is not always glamorous: in media, TV and broadsheets are prestigious, but the real excitement is in radio, web and tabloids, especially local papers. Decide if it really is millions you want, or some combination of satisfaction, lifestyle and money. Chances will come if you're open. We stumble onto opportunity, but you can only stumble if you're advancing. Decades from now you'll wonder how you missed so much potential. Would you rather be George Best or a journeyman footballer? Best gave us dreams. Success isn't about titles and compensation, it's about having a dream, a quest. It matters little how big your quest is. What matters is how pure it is. Set outrageous goals that grab the imagination . . . clear, tangible and energising. Innovate early. Accept that risks come with pain. It's never being satis"ed. There's no 'right' solution: there's no 'right' Ulysses or 'Cuirt an Mhean Oiche'. With effort, intelligence and energy, it can be done. Wimpishness doesn't change the world. Hiding in the comfort zone won't change your industry. Don't hedge, don't equivocate . . . go for it. You can only fail. But if you keep trying, something will work eventually. Success is about experimentation, opportunism, trial and error, accident. Let the welladjusted flourish and the weakest die. Over-detailed plans fail because competitors react. Instil discomfort so as to undermine complacency and drive change before competitors and customers require it. Profits are a means rather than an end: like oxygen, they're necessary but not the reason for life. Can we start yesterday? |
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