Rheochem Share Discussion Threads

[giant steps] 31/8/2010 13:27

RHEP is undervalued imo but probably for good reason until
uncertainty is cleared re Zeus legals, awaiting athena fdp
approval and the funds required for project development.

Plenty clouds of unresolved issues in short term.

[addict] 31/8/2010 13:20

Carefully chosen words to negotiate from a position of greater strength.dyor

[giant steps] 31/8/2010 12:59

Just having a closer look at the finals...placing in progress ?

Observe
"
Where possible the funding of the Athena development should not dilute the underlying value of the Fluids businesses. Securing the funding should allow investors the opportunity to ascertain the inherent value in each business group and allows the Company to work towards separating the two groups under the most favourable conditions
"

[addict] 31/8/2010 08:33

RKH-type upside potential with mud business under-pinning the operational side of the business.Was expecting a higher opening than this.

[ducatiman] 31/8/2010 07:48

bid moved from .075 to .10 on asx yesterday but no volume. Good results so lets see how our mms react.

[lr2] 30/8/2010 16:08

Duc, agreed. Net tangible assets are worth around £18.8 million. Any sale of the muds business should fetch in excess of that amount. Alternatively, any farm out / free carry of exploration assets would also carry good upside I reckon.

Directors out of money on current options at 16.5p but don't expire for a couple of years. I wouldn't be surprised to see more granted at a lower price.

[ducatiman] 30/8/2010 11:52

LR2, just did some quick figures. Would I be correct? Using financial report figures the net tangible assets are valued at £18.750m against current mkt cap of £15.19m. Virtually no value is given to the north sea assets? It seems that they are deliberatley keeping asset value as low as possible. I wonder if there could be a reason for this? Surely any success with moving the "high impact" assets forward should result in a very significant rerating. I wonder if we will see some options granted or director buying before that occurs? Your thoughts appreciated as I often get my figures/thoughts wrong, lol.

[addict] 30/8/2010 11:46

SP looks to have massive upside with very limited downside.The next few weeks will be very interesting here.DYOR

[lr2] 30/8/2010 11:28

Athena proved and probable reserves net to Zeus - 2.44mmstb at 2,000 bbls a day looks like a certainty to go ahead. Just awaiting news from Ithaca Energy which should come any day now. More concerned with Metis with best estimate recoverable prospective resources of 93 mmbbl and a licence revoke date of December '10. Something urgently needs to be sorted there. Waiting until October for further news is pushing it to the limit. Would be a shame to lose it.

[ducatiman] 30/8/2010 09:19

"zeus` initial share of oil production expected to be around 2,000 bbls/day" So come on Haydn get a deal done.

[giant steps] 30/8/2010 08:50

Extracts from finals

"
The Company still believes the business groups should be separated however in
this challenging economic climate, selling or funding junior E&P companies is
difficult and the IPO route for Zeus would be very dependent on the Athena
project sanction which has not yet been completed although it is expected before
December 2010. Therefore the Company has taken the decision to continue with the
Athena development to full partner and Government sanction which is expected
before December 2010.

The Company continues to review funding options for the Athena Project which include
but are not limited to project development funding; other debt instruments; farm out
or trade sale of E&P assets; trade sale of the services business; equity raising, and
the demerger of the E&P subsidiary with independent funding. Rheochem expects
to be in a position to report on progress in October 2010.
"


Outlook
"The coming year looks very promising for both the fluids business and the E&P
business and we expect revenues to be significantly higher than the previous 12
months. Given its long standing relationship with some customers, the Company
expects to renew major contracts this year which will underpin the main revenue stream. In addition the Company is waiting on the award of tenders with new and
previous customers and looks forward to updating the market in due course.
"



edit : reminder, North Sea assets carry value A$23.768m

[bomfin] 30/8/2010 07:58

results out in Australia.

Still waiting for news on any farm ins.

[empirestate] 27/8/2010 23:56

picked up a few more here today at sub 7p, looking forward to next week

[addict] 27/8/2010 13:14

Interesting

[giant steps] 27/8/2010 13:04

Ithaca Interims just released 27/8/10 @ 13:00



Extract
"Athena FDP and the finalization of all services contracting agreements
are expected shortly"




edit : perhaps if RHEP sell Zeus (guess) it's conditional on fdp approval re athena

[rivaldo] 27/8/2010 12:54

Good to see continued interest here on a quiet Friday - let's hope for news early next week as promised...

[lr2] 27/8/2010 11:59

Current on line limits are: Buy 25k at 6.97p, sell 100k at 6.75p.

[giant steps] 27/8/2010 11:54

LR2, yes - that would be most fair.

Prices bid 6.75p offer 7p, 2 v 1

[lr2] 27/8/2010 11:51

The best solution would be for them to release the news after the close of markets in Australia on Monday evening with the UK news release timed for 07:00 on Tuesday 31st August.

[giant steps] 27/8/2010 11:48

Yes LR2, very true - ASX often first, then LSE

[lr2] 27/8/2010 11:46

They seem to release news in Australia during market hours over there with the UK getting the same news release at 07:00. Not always the case but often so. There's been no news release in Australia today.

[giant steps] 27/8/2010 11:42

Thought LSE was primary listing

Note
"
Care is taken to ensure any price sensitive information is released to all shareholders, institutional and private, at the same time in accordance with
AIM and ASX requirements.
"


Not easy to achieve given time difference !

[lr2] 27/8/2010 11:40

Previous announcements have often been released in Australia first.

[ducatiman] 27/8/2010 11:34

Is asx the main listing and therefore we should expect an announcement there first?

[lr2] 27/8/2010 11:26

Monday isn't a public holiday in Australia, so they have 2 possible days to release news next week.