Regal Petroleum Share Discussion Threads

[arsene5] 04/4/2012 14:37

groundhog day imo.

russian mafisoso = bad news imo.

[buy and hold] 04/4/2012 14:33

Despite there was a work over , that means the production's shut off in the respective well, the average daily production for Q1 was steady with a very small increase 1,769 boepd, instead of December's production 1,753 boepd .

So IMO there is an already significant production increase this Q1 that is not be seen due to the work over's production gap.!?

So the average production in this Q1 ,if has not happened this work over , IMO it should be over 2,000 - 2,100 boepd,now.!?

[j drama] 04/4/2012 08:40

Volks
IMO the timing of the next RNS will depend on how successful the workover has been. If it only increases production by say 200 boepd I doubt there will be an update & the next one will likely be either after the next workover/s or the final results at the end of June.
I'm just happy that the production is going up consistently!

[j drama] 04/4/2012 08:19

I don't know whether anyone has noticed but the production numbers have increased on every single RNS released since production recommennced last July, long may it last.
Looking very good for average production of 2,000+ boepd for Q2 & 2,200+ boepd for H2.

[volkswag] 04/4/2012 08:16

As previously mentioned atleast we are now getting more regular updates. That said the information provided appears to be at a high level and the low level detail is not immediately forthcoming.
It would have been nice to have put more flesh on the following comment
'The Company has recently completed the first of 3 work-overs of existing wells designed to enhance production performance of these wells, with the SV-66 well currently on production test following its work-over'

Good that we have information at long last on the workovers but is it looking promising? One would hope so if only they had stated how it was progressing - perhaps we will get another update shortly?

[j drama] 03/4/2012 21:42

'The SV-53 well was spudded on 28 March 2012. The well is scheduled to take 400 days to reach its target depth of 5,450 metres and is targeting the Visean reservoirs ("B-Sands"). The well is currently drilling at a depth of 1,862 metres.'

That must be a typo & should be spud 28th Feb, no way they've drilled 1,862 metres in less than a week.

SV-66 was the well that had to be initially be restricted back because it was flowing too quickly for the infrastructure, so a very good well to workover first.

Installation of LPG recovery equipment should provide a nice additional revenue stream.

Disappointing the spudding of the next well has drifted from mid Mar to late Apr/mid May.

Next update end of June & the final accounts?

[jam2day] 03/4/2012 18:00

Thats old old old -in fact gone gone gone or maybe we still have the 50% bit in Romania the rest has definitely gone

but still significant, are two large exploration blocks in Romania, the Barlad and Suceava Blocks, where Regal holds a 100% and 50% interest respectively.
Regal Petroleum also has a 25% non-operated joint venture in Egypt with Apache Khalda Corporation LDC, where an exploration well tested positively for oil in September 2007 and was tied in as a producing well in June 2008.

[potpit] 03/4/2012 17:52

Well at least we are getting regular RNS production updates now. Maybe if we are lucky the share price can get moving upwards regularly as well.

[buy and hold] 03/4/2012 15:34

Any comment on RNS?

[volkswag] 02/4/2012 21:16

No trades today, are well there's always tomorrow!

Tomorrow is but another day and you never know what it might bring!

[volkswag] 28/3/2012 22:35

Gee Fatima is back, normally a good omen, lets hope it bodes well share price wise!

[soggy] 28/3/2012 09:34

MMs don't load up.

They make their money on the turn. While some may end up holding some stock because of the market on a particular day, it's not their business to hold, they just make a market, like it says on the tin, and make money on the spread.

[arsene5] 28/3/2012 05:58

Nice to see Fatima's log imo.

[j drama] 27/3/2012 23:09

I'd say it was more likely that a broker is accumulating for a buyer than the MMs loading up. Probably at a price of 30p.
Due to the liquidity it would be impossible for anyone to buy a stake directly in market. If there wasn't a buyer for all these sells the price would be closer to 20p.

[buy and hold] 27/3/2012 16:22

These trades are something very usual in the last six + months...

[kingyon1] 27/3/2012 16:19

Anyone know if all these sell trades are some sort of cross trade (DMA) or are the mm's loading up expecting some news?

[j drama] 23/3/2012 09:56

Well Henry did say around the end of March so hopefully next week.:)

[arsene5] 23/3/2012 08:29

and you believe anything Ukranian ?

I guess its true that you can fool some of the people all of the time.

[j drama] 23/3/2012 05:00

'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....
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.'


It's about time we had an update, both wells should have been spud by now.
Perhaps they are waiting for the workovers to be completed?

[j drama] 22/3/2012 11:01

Spec
If you read the analyst note you'll notice that there are some assumptions that are actually under playing the numbers.
The price per m3 for instance is a lot lower than that achieved in the last interims & therefore the % gm is too low.

You have to take some of these notes with a pinch of salt but I suspect that the analyst who wrote that notice actually spoke to someone at Energees because they've used some of the company's slides (e.g. the map of the licences with the wells on it). So the 2,000 boepd for 2012 is probably pretty accurate (1,800 boepd start of year therefore 2,200 boepd at the end).
The 3,500 boepd for 2013 is higher than the target announced (after this date) of 2,890 boepd so that's probably stretch by 500 boepd IMO.
To get to 5,200 boepd from 3,500 boepd would require 4 wells drilled at 425 boepd per well which seems OK to me.
So I'd say assuming everything goes to plan 4,500-4,700 boepd by end 2014 is probably closer which would require 6 wells to be completed at an average of 400 boepd per well assuming all the workovers, compressors etc getting stable production to 2,200 by end of 2012.