Plutus Res. Share Discussion Threads

[shirishg] 28/6/2005 13:04

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[sawbones] 28/6/2005 13:03

quiet here!

[cwa1] 28/6/2005 12:50

More grist to the mill :-)

Paladin Resources plc announces that oil production has successfully commenced
from the Brechin Field, at an initial rate in excess of 8,000 bopd.

The Brechin Field, which lies close to the Montrose, Arbroath and Arkwright
('MonArb') field complex, was discovered in May 2004 by Paladin's first UK
operated exploration well 22/23a-7, which penetrated 138 ft of oil-bearing
Palaeocene Forties Sandstone. The field has been developed by a single
horizontal subsea development well tied back to the existing Arkwright Field
subsea infrastructure, which lies approximately 3 km to the west. Oil is
processed on the Montrose Field platform prior to export to shore via the
Forties Pipeline System.

Joint-venture partner interests in the Brechin Field development and in the
Montrose, Arbroath and Arkwright Fields are Paladin Expro Limited (operator)
58.97 per cent and Energy North Sea Limited, a wholly owned subsidiary of
Marubeni Corporation, 41.03 per cent.

Colin Reid, Paladin's Aberdeen-based UK General Manager, commented:

'The successful development of Brechin is a milestone for both Paladin as an
operator and for the MonArb area. First oil has been delivered on budget and on
schedule only thirteen months after discovery, demonstrating the ability of
Paladin and its partners and contractors to exploit satellite development
opportunities efficiently.'

[magnus9] 25/6/2005 14:50

Glad to oblige ;)

[alexandrews] 25/6/2005 14:37

O good, a nice conspiracy theory for us to get our teeth into!

8-)

[magnus9] 25/6/2005 14:22

AlexA
PLR is a very good company and the share price I'm sure will rise to its due level but it mightn't look too good if it zooms up prior to Petalonia without an appropriate announcement being made - question of leaks etc.

[bomfin] 25/6/2005 11:54

post 290 copied for posterity. newevening filtered.

[bomfin] 25/6/2005 11:43

Locking in profits is also a sensible option at a certain stage.

It doesn't mean it can't or won't rise further. imho dyor

[alexandrews] 25/6/2005 11:38

Was the Aberforth sell-off designed to stop the share prices from sky-rocketting at an unseemly rate I wonder.

Oddly enough, I've yet to come across a shareholder or company board who objected to the price of their shares rising...

[magnus9] 25/6/2005 11:02

The latest PLR accounts show the following:

As at 14 March 2005, the broad distribution of the 337,706,329 shares in issue was as follows:

Institutions 327.58 mln 97.00%
Directors and management 5.17 mln 1.53%
Other individuals 4.95 mln 1.47%

Total 337.70 mln 100.00%

Do "Institutions" include shares held in nominee accounts (such as an ISA with Barclays Stockbrokers etc.) because there seem to be very few shares held by "other individuals". Was the Aberforth sell-off designed to stop the share prices from sky-rocketting at an unseemly rate I wonder.

I also noticed that AXA held about 11% in January, 2005 and a recent announcement of 23.06.05 says they hold 10.88% yet AXA don't appear in the accounts as a substantial shareholder.

[shirishg] 25/6/2005 10:22

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[bomfin] 25/6/2005 10:11

Paladin's latest presentation is on the website. Given a couple of weeks ago at the credit suisse first boston conference in London.

Here's a few +s

Yme technically recoverable 75 million barrels. Norwegian oil currently returning about £5/barrel profit because of high oil prices. Other prospects in area.

Goldeneye production going well. Suggestion that it is higher than expected.

Giving PLR 5,000 boepd/net the profit from this 1 asset is likely to be over £50,000/ day.

Laminaria pilot hole drilled end May. Round about the time share price was heading north. No results given yet.

rgds bomfin

[sagem] 25/6/2005 06:21

ALEX....I do I was confused with Paladin on the OZ Market SAME NAME and into uranium.

[alexandrews] 25/6/2005 00:19

SAGEM,

Can we just check that you have recognised that this company produces oil - not uranium?

[poo bear] 24/6/2005 23:10

Thank you Johnho

[johnho] 24/6/2005 20:52

poo bear,

If you study the formal notices issued by the Company (above), it appears that Aberforth Investment Managers sold 20 million shares on 23 June, but there is no indication who purchased same. Aberforth still retain a massive holding.

The notice of 23 June indicates that AXA sold 304669 shares from their very large holding.

Also noticed on 13 June that Barclays added a further 369259 shares to their v. big holding.

DYOR

[sagem] 24/6/2005 18:59

TAKEN FROM UK-ANALYST TODAY....WELL TIPPED.it should take off on Monday


Finally, the broker upped its target on Paladin Resources stock to 235p from 221p. The shares added 0.5p to 218.5p.

[sagem] 23/6/2005 12:51

Its just profit taking, thje share price has come up from a very low sp
TIME TO BUY NORE

[poo bear] 23/6/2005 11:07

Anyone know why there is a large amount of stock being sold today??

[bomfin] 22/6/2005 16:31

BDN,

Woodside's latest announcement.




This would be a tie in to Laminaria/Corallina production facilities. If successful it will help the ultimate recovery for these fields as well. My guess is we're talking about anywhere between 16 and 66 million barrels oil net to PLR.

I've no idea of the success chances but it's close to proven producing fields.

all imho dyor

rgds bomfin

[bumpy dog [new]] 22/6/2005 13:47

According to Peel Hunt, core NAV for PLR is 172p, 241p and 310p based on long term Brent of $30, $40 and $50 respectively.



Still got a big (for me) holding in PLR, all the way up from about 53p, with the last buy around 80p, I think.

(bomfin - re Petalonia, I'm out of date with PLR explo activity. Must go and do some homework! Due to work, I could not attend the AGM this year, unfortunately. Got any feel for the chance of Petalonia success and what the impact would be?)

[alexandrews] 21/6/2005 23:34

In the current climate, I would be wary of shorting any oil stocks - even those issuing bad news! 8-)

[bomfin] 21/6/2005 22:53

I wouldn't risk getting caught short if Petalonia comes in. Currently at 2800 metres depth. Target depth 3800 metres.

[alexandrews] 21/6/2005 22:17

I think it will need to as well in order to justify the share price - by my calcs, PLR is now capitalised at ~£750m, with an enterprise value of ~£900m.

Alex

[bomfin] 21/6/2005 22:04

Yup,

Incredibly though! if Brechin comes on stream at current oil prices it will be returning about £15/barrel profit. It's meant to be on stream soon.

Also Petalonia has been drilling since 14th June. My guess is it will reach target depth within the next week. This is a very significant well for PLR.

imho dyor

rgds bomfin