Just topped up again |
Think Zebbo and Zengas post on LSE, not sure about here. But agree these guys have called in correctly from day 1 |
Divmad,Thanks and yes I did participate from early on and continue to hold for round 2, that has just got going.I plan to increase my holdings here massively ahead of Kertang well commitment nextyear. Alot of the key details I look for are already in place or are being addressed. The rest is just timing.Cash |
Great post, cash.So that makes Sintana a 25-bagger so far from its low. Well done if you participated. The lessons I draw from this real world example are, firstly, that the really large capital gains are made from holding, not trading. And secondly, astute managements with strong vested equity interests will know when to make equity placings that are accretive, not dilutive, for future growth. Oh, and being in the right place at the right time. Now where did I hear that phrase recently??? |
Investors should also take a look at Deltic Energy. Bombed out , 25% of a potential very significant gas find in the NS ( broker put value at 77p , currently trading around 8p ) and now moving its focus overseas . Check it out and dyor. |
Any share sale is being snuffled up . I wonder if someone is building a stake . We should all thank Ed Miliband for killing the NS and his mad Net -Zero policy.
Still a very modest market cap i. relation to its assets |
It was the likes of Zengas and Zebbo who were pointing out the opportunity whilst Bruce, Blackrock and others were crashing the share price with their "at best" offloading of millions of shares. Has given a golden opportunity for us small fry to achieve big fish-like gains I reckon! |
Poor old Mr Bruce must be sat there wondering why! |
Haven't done the math but I suspect a significant proportion of the company stock has traded hands this week, possibly 30-35%, so surely somebody would have crossed the 3% thresshold. Let us see if any holding RNS comes out. |
Excellent rise here Heading rumours of UPL NEXT in line for their pscUpL could run back to 5p very quickly So many positive hints for UpL getting it |
 I will give an example, which I think maybe a real time study just recently, where 5% has been transformative for a small, minnow player.Sintana Energy - 4.9% PEL83 Offshore Namibia.This company a few years ago very cleverly bought into a local subsidiary that had stakes in several key Namibia Orange basin blocks.It went from C$15mln to about C$50mln ahead of drilling. A maiden drilling campaign was initiated by GALP on two high impact DHI supported prospects - one was an absolute bullseye AVO - this was October-November 2023.A C$20-25mln warrant exercise took place on the initial reports that 'HCs' had been encountered. Nothing more. Marketvalue was around C$80mln at that point.Then came the leaks - including from firms linked to Sintana. In Q1 2024 they confirmed not 1 but 2 substantial light oil bearing zones had been discovered and were being assessed.Second planned well, a step out 8km away, was drilled immediately after the first - which also confirmed 2 oil bearing zones, including confirmation of reservior communication between well 1-2. Interestingly a 3rd unexpected large oil reservior was discovered aswell.A well test was then carried out, which flowed 14,000bopd of light oil and demonstrated excellent deliverability.This is now known as the Mopane oilfield - quite possibly the largest offshore discovery in the world over the last decade at a minimum of 10billion barrels in place (operator estimate).Sintana Energy marketvalue after this C$400mln.Now - back to today - GALP has just kicked off a 4 well campaign to appraise the extent of Mopane, as those closer to the action have leaked it could actually be between 13-15billion barrels. Plus there are other large prospects on the block. And Sintana is about to participate with Chevron on PEL90 nextdoor at a similar 4.9%.I expect Sintana Energy will be a billion dollar firm soon.The point I'm making?SEA with upwards of 10% of Kertang (eventually) is in an extraordinary position for a junior listed firm. Now they have got rid of the North Sea millstone from their neck, I genuinely see them having a Sintana like run. The key is to accumulate this now and be patient all, Kertang will get drilled and this will not remain at these depressed levels for what they have.Cash |
someuwin
22 Oct '24 - 09:07 - 88 of 188
0 11 0
From Cavendish yesterday...
Valuation
We will update our target price and valuation in due course. However, we note the recent acquisition of a portfolio of producing Sarawak gas-focussed assets by TotalEnergies from SapuraOMV for US$4/boe.
Net to Seascape, this would value the 14-19mmboe of net resources at Dewa at a potential unrisked value of 75-100p/share (5.4-7.2x the current share price).
Similarly, at Block 2A, we estimate that Seascape would look to retain a 15.75% interest post farm-down. This would equate to a net mean prospective resource of 261mmboe (1.4Tcf of gas and 23mmbbls of NGL’s). At US$4/boe, this would equate to a potential unrisked value of £14.65 per share net to Seascape.
Potential valuation of £1.00 + £14.65 = £15.65 per share. Almost 100 fold from current 16p.
I think they are looking for a lot more, these opportunities don't come around very often! |
When is the next drilling news expected? |
I can't see the BOD accepting any take out today even at 100p.Probably 150p today for a yes vote from me. |
Zengas,Excellent post as ever.I remember COV well. What I find very comforting is that the main Kertang prospect seems more advanced at this stage than when COV went into Anadarkos Windjammer drill offshore Mozambique. Other than their own model, they didn't have much else to go on.It certainly has alot of analogues and to be able to invest at 15% levels of exposure (hopefully). Sets this up remarkably well.Cash |
The only way they could do it, perhaps, would be if a major could buy enough shares on the open market and try and force a hostile takeover. May be possible as there are not so many IIs left after the Norway exit (hence why we are at this lowly share price). Private shareholders maybe not so sticky with their holdings.
Hostile takeover happened to Faroe Petroleum I understand - DNO bought enough shares on the open market and forced the takeover, no?
Would be sad to see that happen though - for those intending to hold for long term and Kertang/Block 2A realised gains. |
If somebody offers around 70p plus they are gone . |
Menzies and co would never agree to it .This is as good as it gets to them .
Maybe in 3 years time post Kertang they might think about it... |
It’s cheap to a major |
Don’t be surprised if this gets taken out |
Wow ..and still cheap with only 57m shares in issue. |
Perhaps people realising that any shares bought up to a quid are essentially free lottery tickets to the Block 2A mega potential |
Possibly a break above someuwin to around the 50p mark with some small resistance around 34p and then a back test to 42p, that is what we are thinking and then a move up from there. This is the first part in a stage 2 breakout from a consolidation at the bottom stage 1 apparently, not my fortee, just what I have been told! |
Chart alone suggests rapid move up to 40p before consolidation |
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