Regal Petroleum Share Discussion Threads

[arsene5] 05/1/2012 04:26

Over a year to drill a well? If they upgraded from a plastic spade, they could reduce that imo.

[arsene5] 05/1/2012 04:25

So waiting another year for any progress ?

Marvellous. I am sure the remaining shareholders will be on tenterhooks and salivating at the prospect.

Its all gas tomorrow imo.

[j drama] 05/1/2012 02:25

Prior to using the Saipem drilling rigs, wells took a year to drill so this is consistent.

I'm some what surprised with the sudden change in providing information to shareholders.After this I doubt that a second offer will be forthcoming in the near future.
Perhaps we all misjudged Energees!

The 'excellent news' would be that Energees appear more serious in developing the fields within a public forum of a listed company. If not they could have stonewalled a few more months, on providing any update, and just made another low ball offer.

Forget about the new wells being drilled, they are a secondary issue.
The focus is now, rightly, back on whether these licences can consistently produce at a decent level (700+ boepd per well). With the number of wells already drilled on the licence production could easily pass 4,000 boped with successful workovers (across all off them) assuming the licences are any good.
If this happens then the share price will soar past 75p IMO, if production can't be significantly increased from workovers we will have to face up to the fact that we have bought shares in a company with poor licences.

[l2user] 04/1/2012 22:18

Regal Petroleum unveils investment programme for 2012
2:50 pm by Jamie Ashcroft

[volkswag] 04/1/2012 21:25

Atleast we have a statement of intent - that drilling is scheduled for 2012 plus workovers. Also I seem to recall Regal prior to the takeover were contemplating using compressors to improve production levels perhaps these are back in the frame?
The year or so from spudding to reach the B sands target depth might encourage holders to accept a revised offer should one appear in the meantime or alternatively hang in there to the bitter end.

[beeks of arabia] 04/1/2012 20:58

Is that for all the shares, or each?

[arsene5] 04/1/2012 19:44

Can you point me in the direction of the 'excellent' bit please ?

[khairkhair] 04/1/2012 17:39

excellent RNS, hard to believe IMO

RNS Number : 9960U

Regal Petroleum PLC

04 January 2012

4 January 2012

REGAL PETROLEUM PLC

UKRAINE OPERATIONS UPDATE

Regal Petroleum plc ("Regal", the "Company" or the "Group"), the AIM-listed (RPT) oil and gas exploration and production group, is pleased to provide an update on its operations in Ukraine.

The Company has finalised its investment programme for 2012 at its Mekhediviska Golotvshinska ("MEX-GOL") and Svyrydivske ("SV") gas and condensate fields in Ukraine in order to continue the development of these fields. The investment programme includes the drilling of new wells, work-over of existing wells and upgrades to the processing facilities, and it is anticipated that the funding for this programme will be sourced from existing cash and operational revenues.

The Company has entered into drilling contracts with local Ukrainian contractors for the drilling of 2 new wells, SV-53 and MEX-105, and preparations for the commencement of drilling are underway. It is anticipated that SV-53 will be spudded in late February 2012 and MEX-105 will be spudded in mid March 2012. Each well will target the Visean reservoirs ("B-Sands"). The SV-53 well is scheduled to take 400 days to reach its target depth of 5,450 metres, and the MEX-105 well is scheduled to take 350 days to reach its target depth of 5,250 metres. It is intended that the Ukrainian drilling rigs will be supplemented by the use of selected western technology and equipment designed to improve drilling operations.

The Company is planning the work-over of 3 existing wells with a view to enhancing production performance of these wells, and an upgrade of methanol equipment at 2 existing wells is also planned.

The Company's gas treatment facility is to be upgraded to enhance the facility's overall efficiency and incorporate compression equipment, and additional upgrade work will provide for LPG recovery.

The Company's Ukrainian gas and condensate production for the month of December 2011 averaged 231,634 m(3) /d of gas and 49 m(3) /d of condensate (1,753 boepd in aggregate).

For further information, please contact:


Regal Petroleum plc Tel: [phone]
Keith Henry, Chairman
Alexey Timofeyev, Director

Strand Hanson Limited Tel: [phone]
Simon Raggett / Rory Murphy

Citigate Dewe Rogerson Tel: [phone]
Martin Jackson / Kate Lehane

[potpit] 04/1/2012 15:27

beeks
Come on lets have fatima back eh?

[beeks of arabia] 04/1/2012 15:17

Remember, they'll need to get through a few hundred metres worth of broken drillbits first.

[potpit] 04/1/2012 15:10

400 days to drill 5000m???? Are they having a laugh??? I reckon i could dig it quicker by hand!!!

[arsene5] 04/1/2012 12:51

No brainer from here imo.

[potpit] 03/1/2012 22:17

I think we need fatima photos again at the top of this BB, that'll get the share price moving in the right direction!!!!

[didas] 03/1/2012 18:01

Happy New Year all. Wouldn't it be nice to get some upbeat production news similar to that which Afren has issued today?!Hope next announcement re production is not long coming

[mstaub] 03/1/2012 14:30

opps, that gets the year off to the bad start we all expected.

Interfax reported that Ukraine National Commission for Energy Regulation decided at a meeting on Thursday to preserve the tariffs on gas sales for major production companies in 2012.

The tariff will be kept at UAH 350 per 1,000 cubic meters for Ukrgazvydobuvania at UAH 456 per 1,000 cubic meters for Black Sea Gas and at UAH 458 for Ukrnafta.

The Ukrainian regulator also decided to maintained gas sales tariffs for three enterprises working under a joint activities agreement between Poltavanaftogaz and Ukrnafta. Momentum Enterprises will have a tariff of UAH 553 per 1,000 cubic meters, Regal Petroleum will have a tariff of UAH 412 and Nadra Invest will have a tariff of UAH 928.

The cost of producing gas for Ukrgazvydobuvania grew from UAH 209.08 per 1,000 cubic meters to UAH 257.86. For Chernomornaftogaz it increased from UAH 354.23 to UAH 422.66 for Momentum Enterprises from UAH 421.8 to UAH 456.89 for Regal Petroleum from UAH 305.95 to UAH 341.96 and for Nadra Invest from UAH 829.28 to UAH 834.2.

The commission also noted insufficient substantiation for and the absence of documentary evidence of a fall in Ukrnafta gas production in 2012 as well as growth in the company gas production costs. The regulator decided to request that the Energy and Coal Ministry and Ukraine national oil and gas company Naftogaz Ukrainy provide data for calculating the tariff for Ukrnafta gas sales.

(Sourced from Interfax)





sorry this i just spotted but goes along the same scheme of things as above:


Ukraine asks for USD 9 billion gas discount from Russia to form joint transit consortium

Read more:

RIA Novosti cited Mr Alexei Miller Russian gas export monopoly Gazprom CEO as saying that Kiev is seeking a USD 9 billion annual gas discount to reach agreement with Moscow on operating the Ukrainian gas transportation system.

At their ongoing gas price talks, Moscow and Kiev have been recently discussing the possibility of creating a joint venture to operate the Ukrainian gas transportation system a core transit route for Russian natural gas supplies to Europe.

Mr Miller told Prime Minister Mr Vladimir Putin that "Our Ukrainian counterparts raised the question of a discount for gas prices during the talks. If we calculate a volume of 40 billion cubic meters, the volume which Ukraine has to buy as part of the terms of the current contract, the discount may be about USD 9 billion annually."

Ukraine has long been seeking to alter the terms of the 2009 gas deal it signed with Russia. The deal ties the price of gas to oil prices, which have risen strongly since 2009, boosting Ukraine's gas bill. Kiev insists on reducing both the price and the volume of gas imports.

Mr Miller also said Ukraine estimated the value of its gas transportation system at USD 20 billion. He said that "Our Ukrainian friends mentioned that they value their gas transportation system at USD 20 billion. It is a big sum taking into account that we will have to spend large amounts on its modernization, adding that the upgrade might cost from two to EUR 8 billion."

Mr Putin told Mr Miller the talks to form the consortium should be continued as gas supplies through the Ukrainian gas transportation system will be in demand amid rising gas consumption in Europe.

Moscow initiated the South Stream gas pipeline project to diversify Russian gas routes away from transit countries such as Ukraine. Russia plans to launch South Stream intended to carry Russian natural gas to Europe along the Black Sea bed in 2015. The pipeline will transport up to 63 billion cubic meters of gas to central and southern Europe.

(Sourced from RIA Novosti)




GLLTH

[jam2day] 31/12/2011 08:50

No one
Nothing
No offer
No offer

[d4ytrad3r] 31/12/2011 03:08

Can somebody please enlighten me as to the 'Offer' that is being discussed here?

*Who made an Offer?

*How much did they Offer?

*What did they want in return?

*And when was this Offer made?

Thanks in Advance.

[arsene5] 29/12/2011 23:16

mstub has sold. Its going up. LARGE. End of.

[volkswag] 29/12/2011 22:22

Another offer for the residual shares would be interesting as is the current shareprice. The later being disappointing but also a target price that could be used in any offer document (assuming an offer is made) referencing the price at the year end. The price has tended to bounce off this level to above 40p on a couple of occasions in recent months so tomorrow might be a good time to buy? Only hindsight will tell whether this is right or not. No advice or recommendation made or intended. DYOR.

[j drama] 29/12/2011 05:52

Buy & Hold
Renaissance no longer hold, they committed to accepting the 38p offer.
The problem is that they never notified the company (despite the company issuing a RNS saying they were committed to the offer) that they no longer hold therefore no RNS of a change of holdings was made.
Your list is also missing Blackrock & Capital Research.

I agree the other seller will be Platforma which means all the other significant holders (other than Investohills who are buying for Energees) are now either UK or US based institutions that hold over 33% of the shares.

Obviously when the next offer is made (Feb/Mar IMO) it will be far better for the share price to be 40p+ than 30p+ as Energees will no doubt sight the the recent share price level as a basis of their offer rather than anything related to Reserves etc.
I believe that the 10m 63p buy option that Investohills hold is from Curzon which may give an indication of what level they are willing to accept.
Pope obviously thought RPT was worth more than 38p otherwise they would have accepted the offer earlier this year.

Personally anything less than 75p will be a disappointment but I'd take 63p if offered it in Q1 2012.

[buy and hold] 28/12/2011 19:18

We could make some observations after the last RNS .
First of all the free float is too poor (only 7,50 % approx.).The significant shareholders -six big players -they have 92,50 % of the total.
I don't know if this is according to rules of the AIM.
A company in any world's stock market has to circulate at least of 25% his shares in the free float.
Second,with this poor free float there is not possibility the price of the share to be rised.
This helps the energees when the time comes to ask the remained shares that they need with a very low price instead to pay three or five times the 38 pence !
The only chance for us (i mean the small holders)is anyone of the big holders like Curzon Alternative Investments or/and Pope Asset Management to throw over the next offer of energees for delisting from AIM.
Off course maybe energees has already seen the intentions of the others and prefer to not delisting!
For this reason very short and not passing the end of January the Energees must open his cards!
My opinion is that Energees has not the power to delist because some big players like Curzon Alternative Investments or Pope they will don't abandon this investment so easy with a price so low.
Therefore , energees perhaps will proceed with increase of share capital in favor of new shareholders ...