Stratic Energy Share Discussion Threads

[steelwatch] 16/3/2009 16:02

ifu - with the long lead times to production, I say "go for it" to take advantage of currently reduced drilling costs.

[ifudrillittheywillcome] 16/3/2009 15:04

Does Nippon continue with plans for Bowmore or put them on hold until Oil prices rebound??

Thoughts?/

ifu

[orvis] 16/3/2009 11:09

Canadian spread on advfn much more favourable (accurate?) at 7.5 - 7.8p compared to UK advfn spread of 6 - 8p
(ex rate used $Can 1.8 to the £)
Edit now marked down in Toronto to = 6.7 to 7.5p but no trades reported

[steelwatch] 13/3/2009 10:35

ohisay - the number of shares in issue can also be accessed from the Stratic website - click the logo above. My method avoids the need for C$ currency conversion.

[ohisay] 13/3/2009 10:18

Thanks SW - I now see where I can find the data.

[steelwatch] 13/3/2009 09:49

Shares in Issue 272,635,224 x current mid price 6.75p

So about £18.5m

[ohisay] 13/3/2009 09:33

What is the market cap of Stratic?

[steelwatch] 13/3/2009 09:28

Valiant Petroleum (VPP) has acquired from Dana Petroleum its 50% stake in North Sea licences containing the Helena and Banquo discoveries. Valiant is operator and following completion will own 100% of the blocks. Valiant added that it expects first production from the West Don field before the end of March.

[steelwatch] 26/2/2009 17:44

February 26, 2009, 11:55 am ET
Oil Prices: 'The Floor Has Been Reached'
Posted by Keith Johnson
Crude oil futures are hopping-prices are up almost 6% to about $45 in New York mid-morning. Since the U.S. recession didn't end Wednesday night, what red flag is being waved at oil bulls?

In a word: supply. Or as Catfish Hunter might have said in a cleaner moment, "The sun don't shine on the same dog every day." After months of market focus on the outlook for oil demand, especially in the U.S., attention is turning back to the supply-side picture. That mostly means OPEC, which provides about 40% of the world's crude.

OPEC genuinely seems to be complying with its pledged output cuts, Conrad Gerber, head of Geneva-based oil-intelligence firm Petro-Logistics SA, told us. And that means crude oil's recent upward march might just be the start of bigger things: "The floor has been reached," Mr. Gerber says.

Preliminary data from February suggests OPEC members lopped off one million barrels of oil rom a month earlier. All in all, Mr. Gerber figures OPEC has shaved off 3.5 million barrels since September-or 83% of its announced cut of 4.2 million barrels. That might only merit a "B" in most schoolrooms, but given OPEC's past record on compliance, that's an A+–and better than Mr. Gerber had anticipated.

Granted, compliance isn't perfect-Iran and Venezuela in particular have lagged, leaving Saudi Arabia to shoulder most of the burden as usual. That calls into question OPEC's ability to cut an additional million barrels at its March meeting. The Saudis can only cut oil production so far-beyond revenue concerns, the kingdom needs a minimum level of oil production to get the associated natural gas that runs its industries.

Moving on from the voluntary production cuts to the other side of the supply picture: involuntary cuts coming from non-OPEC nations like Russia and Mexico. These countries are beset by aging, declining oil fields. Mexico's oil industry is in free-fall. And budget shaving capital cuts are slowing the development of new oil fields to replace the barrels lost to natural decline.

Taken together, the supply-side reductions appear to be a lot bigger than the 1.5 million barrels or so that have disappeared from the global demand side of the ledger. "They've really mopped up the excess," Mr. Gerber says.

And that means that OPEC might just be able to nudge oil prices toward its comfort zone between $60 and $80 a barrel sometime this year, he says.

[steelwatch] 26/2/2009 14:47

Northern Producer ready for Don
Published 26.02.2009 09:20:33 by John Bradbury

Production from the redeveloped Don area in the UK North Sea should start by March or April this year, floating production provider Northern Offshore has said.

The Oslo-listed company which is supplying the refitted Northern Producer FPSO for the re-development of the UK Don area said the production ship completed its life extension programme at the McNulty Offshore facility in Newcastle in the UK northeast at the end of last November and is now ready to being production at the field in "...late March or early April," the company indicated today as it reported its fourth quarter results.

Northern raised net income to US $16.6 m, compared with a $5.6 m loss in the fourth quarter 2007.

Net income for the full year was also up to $64.1 m, up from $34.5 m in 2007.

[steelwatch] 26/2/2009 11:43

Po Valley snares new Italian sales deal

By Upstream staff


Australian outfit Po Valley Energy has sealed a new sales contract which means the company has now pre-sold the first three years of production from its major northern Italian gas fields.

The Australian listed company has struck a deal with Italian gas trading and distribution group Elettrogas, who will buy 50% of the initial output from Po Valley's flagship Castello and Sillaro gas fields.

Last month, Po Valley announced a three year gas offtake contract worth around A$75 million (US$48.7 million), under which the other half of the total output from the two fields' will be bought by Italtrading SpA up to September 2012.

The latest deal is in the same value range, delivering Po Valley initial forward sales of around A$150 million over the next three years.

Both Castello and Sillaro will be progressively commissioned from July this year, representing Po Valley's first commercial revenue stream from its expanding energy assets in northern Italy.

"Critically, the two contracts, going into first phase commercialisation, ensure we have strong customer alliances and contract pricing in our maiden production period," commented Po Valley's chief executive Michael Masterman today.

Earlier this week, Po Valley announced a private placement of A$10 million. Part of these proceeds will fund a large-scale appraisal drilling programme at the neighbouring Bezzecca gas project together with further work on Castello and Sillaro.

Po Valley holds nine preliminary exploration licences in northern Italy in addition to a 20 year production concession awarded late last year for Castello and Sillaro.


--------------------------------------------------------------------------------
Thursday, 26 February, 2009, 03:22 GMT | last updated: Thursday, 26 February, 2009, 03:22 GMT

[steelwatch] 26/2/2009 11:25

Buzzzzzzzz - possibly, but it made a mess of the share price unfortunately. Is that just your opinion, or have you spoken to someone?

[buzzzzzzzz] 26/2/2009 10:33

Steel

P&A tactical!

[steelwatch] 25/2/2009 08:38

surfer - recommend listening to de horses mouth - Q3 presentation at the top of the thread. Since then, the Cairngorm project has "wasted" around $19m due to bad weather and rig failure. Although hydrocarbons were detected in two secondary targets, the main objective was not reached and they p&a'd it.

[steelwatch] 25/2/2009 07:28

Development Plan for Longanesi Field Submitted


CALGARY and LONDON, February 25, 2009 - Stratic Energy Corporation (TSX Venture: 'SE', AIM 'SE.') ('Stratic' or the 'Company') announces that the Development Plan for the Longanesi Field has been agreed with Eni and submitted by the two partners to the Italian authorities for approval. The partners have agreed that Eni will operate the development. Submission of this plan initiates the start of the formal regulatory process, which will take at least 12 months and is expected to result in the award of two production concessions (San Potito and Bagnacavallo), and the necessary consents to permit construction and drilling operations to commence within those concessions in 2010. The Development Plan includes the drilling of three new wells within the field, the completion of the two existing wells as producers, the building of a pipeline gathering system and processing plant and connection to the national gas grid. First gas is targeted for 2011.


Mark Bilsland, Chief Operating Officer, commented: 'This is an important milestone in the development of the Longanesi field. We look forward to working with Eni to obtain the necessary consents to allow construction and drilling activity to commence'.


The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the contents of this release.

[surfer2] 24/2/2009 20:07

whats the debt situation here? im aware they are due is it 4000 boepd any day now but do thye have debt or much cash? use to watch grove energy who was aquired by this lot

[ifudrillittheywillcome] 24/2/2009 15:52

No. I'm just ifu.

Based on what I could get from phone calls - best to consider the October drill in Morocco a bust.

[steelwatch] 24/2/2009 11:28

ifu - ruOJ?

This is the only information we have regarding Morocco:

Prospect: Guercif

Location: Guercif Basin
Interest: 80%
Acres: 962,000 / 769,600

In June 2005, TransAtlantic was awarded a reconnaissance prospect covering 3.4 million acres in north eastern Morocco. In January 2008, TransAtlantic converted a portion of its reconnaissance prospect into two exploration permits.

Opportunity
Re-entering Jurassic "missed-pay" prospects with hydrocarbon-bearing intervals that were overlooked at time of original drilling
Six additional prospects and leads, many with direct seismic hydrocarbon indicators

With regard to the development of its international properties, in October 2008 the Company began re-entry operations on one well in Morocco.

The Company is staging mobilization of its drilling rigs to Morocco first

[ifudrillittheywillcome] 23/2/2009 20:32

IMO - the current situation will result in a different looking Company if we are lucky enough to reach that point. This will be solely a UKNS oil company. Turkey - Italy - Breagh will be gone and possibly the Dutch interests as well. I put Syria at 50/50 if it will ever occur and Morocco seems to be a bust unless the operator is keeping a success quiet to obtain more land.

New valuations will occur with this one based on a smaller entity and they must sell something to supplement the W. Don revenues to remain viable. If they make it --money to be made --but I'm no longer sure how much.

ifu

[steelwatch] 23/2/2009 18:01

soul - unforgiving markets and low oil price is not helping. @ c.4000 bopd, every dollar +/- = c.1.4 million difference to annual revenue. We need positive news badly. The Cairngorm operation went badly, and Syria didn't happen.

Development plans for Crawford, Longanesi and Breagh should be unveiled through the year, and Nippon apparently has the SS Ocean Guardian on sublet from Oilexco to drill Bowmore in the next 2/3 months. Apart from that, we await news from Trans Atlantic Petroleum regarding the well re-entry in Morocco last Autumn and possible disposal of any non-core asset, the North Sea now being where the strategic focus lies. Horizon West was put back to next year.

1st oil should be flowing around end of Q1.

[soulsauce] 23/2/2009 15:17

34% down - what gives??

[steelwatch] 21/2/2009 11:03

I may have posted this before, but for completeness of an outstanding point ren Tunisia:

[steelwatch] 19/2/2009 15:19

19th February 2009 Issue 04 / 2009
4 of 20
Don Fields 211/18a – Drilling and Construction (Update 27-01-2009)

The drilling rig John Shaw is now on location in the Don Southwest field until mid 2009 to drill and complete four development wells. The Stena Spey will move into the West Don field in February 2009 to drill and complete two wells part drilled by the John Shaw in 2008.

The floating production unit Northern Producer is now on location. (61o29.22'N 01o27.75'E). The single anchor loading base (SALB) structure and its associated loading hose is now installed on location (61o26.57'N 01o29.07'E). A floating mooring hawser will be installed in the coming weeks. The hawser will be marked with buoys flashing yellow 5 seconds. Installation of pipeline tie-in spools at the West Don wells and Northern Producer has commenced and will be on going until March.

An Offshore Development Area has been granted and 500m Safety Exclusion Zones around the subsea wells and structures have been established. Guard boats will be in the area during the construction work. All fishing and other vessels are requested to keep clear of the work areas and to obey instructions broadcast by the guard boats and construction vessels.

[steelwatch] 19/2/2009 15:03

OUTSTANDING SPOT REQUIREMENTS

DATE - CHARTERER - SCOPE OF WORK - COMMENCEMENT


19/02 - Senergy - Rig Move Stena Spey - 22-23/02