Regal Petroleum Share Discussion Threads

[j drama] 05/11/2012 21:40

If the share price is moving it has in the past generally meant that news is on the way & has leaked out from on the ground.

[mark knopfler] 05/11/2012 16:05

more one line irrrelevant tosh.

Its a dog run by criminals in a bent country.

imo

[buy and hold] 05/11/2012 16:02

Well,well,well.Today,after many months,something is moving!Go on!

[outfly] 05/11/2012 13:04

Where is everyone, price moving up slowly.

[mark knopfler] 02/10/2012 08:52

Are you Ukranian by any chance ?

[buy and hold] 02/10/2012 08:49

should be great patience HAVE to have this SHARE !

[j drama] 30/9/2012 11:04

Ukraine has it's elections again next month I just hope there isn't another change of government!

[j drama] 29/9/2012 13:45

From July 2010!

'SV-10 & MEX-3

Concrete foundations have been constructed and progress is being made on
modifying the flow-line connections in readiness for the installation of
wellhead compressor packages. This equipment, which is designed to increase
output from these wells, is expected to arrive in late September 2010, with the
production enhancement anticipated before the end of Q4 2010.'

[j drama] 29/9/2012 13:36

Thanks Jam
Makes you wonder why this wasn't first on their list of things to do considering the compression equipment was ordered back in 2010.

We need something to go right to get these flow rates up from the existing wells.
Considering we have all these wells drilled
SV-58 (good stable production approx 750 boepd?)
GOL-1 (approx 50 boepd)
SV-66 (pre workover / pre shutdown 246 boepd)
MEX-120 (not stable 78 boepd)
MEX-102 (not stable 488 boepd)
MEX-106 (completion fluid issues approx 550 boepd)
SV-61 (failed to flow sustainably)
SV-69 (equipment failure, plugged for later workover never tested)
SV-10 (old pre Saipem well, identified for compressor)
MEX-3 (offline due to water ingression, current workover)
MEX-103 (offline ?)

That's 11 wells, with 2 more on the way, producing just over 1,400 boepd.
What's the point in spending $5-$10m drilling a well if you can't get it to produce long enough to payback the investment?
The only ones making any money will be the employees & drilling contractors!
IMO they need to seriously focus on getting stable decent flows from the existing wells before drilling any further wells, especially if the latest 2 don't flow stablely at decent rates.
What happened to trying fraccing?

[jam2day] 29/9/2012 08:36

JD
"The upgrade of methanol equipment at two existing wells is progressing"
This is a good sign as the liquids are hydocarbons as opposed to water and therefore have value - methonol being the best as this can be added directly to deisol for fuel.
The compressors are located at the well head to increase flow rates.

1.2. Liquid LoadingLiquid loading occurs when the velocity of the gas in the well drops below the critical velocity point, thus notallowing liquids to be carried to the surface with the gas. Those liquids then accumulate in the bottom of the well andeventually, if left untreated can slow or even stop gas production altogether. Other problems caused by liquid loadinginclude erratic, slugging flow and decreased production. Introducing wellhead compression at the first sign of liquidloading can help control or eliminate this issue by decreasing downhole pressure caused by these liquids which allowsthe gas to pass through and up to the surface. Over time, these liquids will surface with the gas, increasing gasproduction back to pre-liquid loading levels.

1.5. The Life of a WellAs gas and oil wells mature their flow rates decline. Wellhead compression, if utilized correctly, can not onlyincrease the current level of production, but also help extend the life of most wells. Once the reservoir has lost much of its drive, some form or combination of forms of artificial lift are necessary to sustain production. In gas wells,compression is the most logical and typically the most economical method for removing liquids that results inincreased production, prolonged well life and increased recoverable reserves. Figure 4. indicates how liquid loading

can accelerate the decline in flow beyond the natural rate and result in dramatic production loss. Installing a wellheadcompressor returns the well to the critical flow rate eliminating the effects of liquid loading.Figure 4. Typical well life cycle 2. Wellhead Compression Package Requirements Selecting the most appropriate wellhead compression equipment for each application is a difficult task.Because all wells possess different characteristics, a single compressor package cannot be applied to all. Equipmentstandardization is a key component to successful utilization of wellhead compression from both the end user andprovider's perspective.

[j drama] 28/9/2012 08:35

Jam
Just spotted this re compressors in interim accounts.

'The upgrade of methanol equipment at two existing wells is progressing, with equipment currently being procured. In addition, equipment is being acquired for the upgrade of the Company's gas treatment facility. This upgrade is over two phases and is designed to enhance the facility's overall efficiency and incorporate compression equipment.'

I thought originally the compression equipment was going onto a couple of the wells but perhaps they've decided to incorporate it into the processing facility?

Not sure how the whole compression thing works anyway as the processing facilities are suppose to be able to treat 700,000m3 , way in excess of the curent flow rates.

[hugh g wrection] 25/9/2012 09:28

Mark

Most corrupt country in the world... end of!

Beeks if you are still around, we need the picture of the disappearing thief in the header!

AIMHO of course!

HGW

[mark knopfler] 25/9/2012 08:26

up 10% aint bad

[j drama] 25/9/2012 08:19

It'll be interesting to see what reaction Energees has on the results of the two new wells next year.
You would think that if they had real faith in the licences (based on the results) that they would loan RPT a load of cash to scale up development.

Absolutely no reaction to the results, RPT seems to be off everyone's radar!

[mark knopfler] 25/9/2012 08:16

I agree. With its history, regal is likely to trade on a substantial discount to true worth for a long time.

Ukraine is the most corrupt country in Europe imo.

[j drama] 25/9/2012 08:16

Completely agree Jam.
Energees had a target of 3,850 boepd by the end of 2013 which IMO is still achievable but they need to get a grip on increasing the existing wells & not just relying on the two new ones.

There are other things that can also improve profitability mentioned, LPG & Methanol equipment plus the upgrade of the processing facilities.

[jam2day] 25/9/2012 08:03

Agree re production figures.Still short of information re well by well breakdown and contribution if any from the installed Compressors.
Without this information its hard to gauge progress.But 30mln in cash
and self supporting forward field development looking good.But I feel the market sentiment with this share will mean an uphill battle to get what we feel the true value is worth - needs a substancial lift in those production figures.

[j drama] 25/9/2012 07:46

Very disappointing to see production levels below pre SV-66 workover levels.
How much was MEX-3 contributing to the 1,769 boepd level from Q1 12?
Concerning comment re requiring daily work to keep production levels optimized, is this related to the way wells were completed or is it a fundamental geographic issue?
IMO the latter, perhaps time to look at fraccing?


Great to see admin costs are vastly lower than pre Energees days & have produced $8.8m operating profit & $18.4m of cash. Margins also a healthy 59% despite daily attention & lower volumes.

On these results we should be trading 30p+ based on a PE of 10.

[j drama] 13/9/2012 00:26

Sometime in the next 12 trading days, so not long now.

Any idea why on the substantial shareholder listing on the RPT website the shares not in public hands (just over 70%) includes the Curzon holding?

They have no link to Energees & I can't see how they differ from Pope, Investohills etc.

[j drama] 12/9/2012 22:50

Which bit?

[casholaa] 10/9/2012 23:50

Trading halt today. From 5th June NR "The first well is expected to spud during the week of June 25th and to take 45-50 days to drill and complete. "

GL All