Stratic Energy Share Discussion Threads

[ifudrillittheywillcome] 22/7/2009 16:37

They have 15% of Bowmore. Sold 15% recently to obtain full ownership of Cairngorm. Bowmore has potential to be very big --and - if it's a success --will almost certainly be sold ---like Breagh.

[talkman] 22/7/2009 16:32

I have checked . Stratic got more for it's 10% because it had more of the surrounding acreage. It is US dollars.
How much of Bowmore does Startic have ? What value could this be to Stratic ?

[jak108] 22/7/2009 16:24

Steelwatch,
How come SE. get US$61mill for 10% and EO. get US$68 for 15% WI? Is it meant to be CAD $61 for SE. ?

Anyhow the future looks far more secure now. When is west Don due to come on stream? Should be soon I think. Also fingers crossed for Bowmore which is nearing TD.

[steelwatch] 22/7/2009 16:01

West Don 2 to come on stream ..........

[steelwatch] 22/7/2009 15:51

Kevin Watts, President and Chief Executive Officer, said: 'we are delighted with the outcome of this sale process. The proceeds will enable us to pay down our pre-development debt facility earlier than originally envisaged, normalise our ongoing banking arrangements and move forward with our North Sea development programme. In addition, we are currently drilling in the UK North Sea on the Bowmore discovery with the results of this important well expected next month, and we are preparing to drill a gas exploration well in Syria later this year'.

[steelwatch] 22/7/2009 15:44

...mustn't get too carried away. Bowmore result next month. Fingers XX'd

[steelwatch] 22/7/2009 15:42

Yeehaaa! Typical. I've been sitting here more or less on me tod for months waiting for news, and then miss it due to a contretemps elsewhere :-)

Much to look forwards to with this one now. Mid-cap, here we come!

[rathkum] 22/7/2009 15:31

Let's hope saw Lord, I need much more to get out of a hole on this one. Lucky I stuck it out, nearly threw in the towel when they were hovering in the 5p range

[lord santafe] 22/7/2009 15:24

The revaluation is only just starting here. I remember when Petrel Resources rocketed from 4p to £1.50. Desire from 15p to £1. Northern Petrolium from 40p to over £1. Victoria Oil and Gas, 44p to over £2. It can happen here too, imho.

[tivoliworldgaming] 22/7/2009 15:17

Major RNS just came out regarding a sale, and the bid is already up to 18p. I think these are now a jolly good buy, all the way up to 30p.

[steelwatch] 22/7/2009 12:51

Buzzzzzzzz - pretty startling, but producing oil & Gas from West Don and Turkey and, hopefully, due to announce the sale of the Breagh gas discovery which will stabilise the immediate finances. Also further disposals going forward and the second West Don well should be coming on-stream shortly.

[buzzzzzzzz] 22/7/2009 12:39

What is the total debt of Stratic please?

[steelwatch] 21/7/2009 17:37

Posted on IV:

bowmore at td in 2 weeks?
International Frontier Resources Corporation: North Sea Well Drilling


CALGARY, ALBERTA--(Marketwire - July 21, 2009) - International Frontier
Resources Corporation (TSX VENTURE:IFR) today reported that the Company did
not conclude a farmout on its Bowmore - Alpha prospect; as a result the
Company wholly owned U.K. subsidiary, Britcana Energy Ltd., is
participating for its 10% working interest. The 15/24a-J well is currently
drilling and is expected to reach a targeted total depth of 15,250 feet
within 14 days.

[steelwatch] 16/7/2009 10:43

Stake-sale talk lifts Encore
By Neil Hume and Bryce Elder

Published: July 15 2009 03:00 | Last updated: July 15 2009 03:00

Encore Oil was in demand yesterday. Its shares added 4.8 per cent to 15¾p on talk it was set to sell its 15 per cent stake in the Breagh gas discovery in the North Sea to EOG Resources.

Traders think the company could return some of the sale proceeds to shareholders. Several other partners in the Breagh prospect are expected to sell their holdings as part of the deal.

[sg31] 16/7/2009 10:33

A bit of background on EOG the possible Breagh purchaser.I have lifted these from IV

posted by Algrovenew

EOG's pedigree
1999
EOG Resources, Inc. (EOG), formerly Enron Oil & Gas Company, adopted a new name and declared its independence from Enron Corp. Simultaneously, Chairman and Chief Executive Officer Forrest E. Hoglund retired, Mark G. Papa was elected Chairman and Chief Executive Officer and Edmund P. Segner was named President and Chief of Staff of EOG.

Posted by 100mboe

Shocked that EOG would make this move. They were a pure North American nat. gas resource play company. Strong management, very strong, don't screw up often. Great GOM operator, great shale gas pioneer, this says a whole lot about what they think the future of North Sea nat. gas looks like. BIG time new entrant even though they have an office in London. THIS IS A GREAT PARTNER FOR STERLING. They will git ur dun! I hope it's true. They report Q2 results Aug. 7 and I would imagine that they will want this in their conf. call. GREAT NEWS IMHO!!!

[rathkum] 15/7/2009 21:29

Merger mania starts to grip oil sector

Created:
15 July 2009
Written by:
Martin Li

Centrica 's £1.3bn hostile bid for North Sea gas outfit Venture Production is unlikely to be the last chapter in a burgeoning merger boom in the oil and gas sector, with a recent survey indicating that many within the industry expect takeover activity to increase markedly in the next five years.

The latest Oil & Gas Outlook North Sea Survey summarises the views of 344 oil executives and industry professionals, and it found that nearly 74 per cent of survey respondents forecast greater acquisition activity in the period 2010-2015. More than 45 per cent of respondents thought the North Sea would become more important to their companies during 2010-2015, compared with 32 per cent who thought it would become less important.

Even more conclusive were the views of future opportunities. Over 61 per cent of respondents thought using enhanced oil recovery techniques to maximise production from existing fields (which might otherwise recover as little as 20 to 30 per cent of the oil in a field) to be the most significant opportunity for North Sea companies.

Using better technology to exploit 'stranded' fields is the bedrock of Venture's strategy, and both the company and some of its major shareholders think there is plenty more mileage in this than Centrica's offer implies. It has described the bid as "opportunistic".

Centrica is after Venture's gas reserves, which account for 70 per cent for its overall reserve base, in order to increase its vertical integration and reduce its exposure to fluctuating wholesale gas prices. It has said the offer is "final" unless a counterbidder emerges, and it has the advantage of already owning 29.9 per cent of the company.

The Middle East is also seeing a flurry of corporate activity. The offer from China's Sinopec for Addax Petroleum and Heritage Oil's merger with Turkey's Genel Enerji highlight the potential of Kurdistan, now further underscored by Gulf Keystone's plan to sell its Algerian assets and focus entirely on operations in Kurdistan.

Across the border in Syria, shares in Emerald Energy , co-developer of the prolific Khurbet East discovery, has confirmed it is the subject of a possible cash offer, with Chinese oil companies again thought to be the most likely buyers.
IC VIEW:

There could well be a boom in smaller oil company takeovers, but the bidders are increasingly likely to be powerful parastatal companies with considerable bargaining power, so don't count on knock-out valuations. The Centrica-Venture situation doesn't fit this mould; with a counterbid unlikely and Centrica digging in on price, Venture's shares are fairly priced at 825p.

[doc robinson] 15/7/2009 08:43

more buys today?????

[steelwatch] 14/7/2009 16:22

Nice to see a 1m buy today. May be news of the Breagh sale contract leaking?...

...or West Don 2?

...Too early for Bowmore?

[rrogans] 13/7/2009 08:23

Wonder if that means they are expecting the Breagh cheque to be in the post by then?
Rich

[father_paul] 13/7/2009 08:19

Payment is due tomorrow:

In relation to Licence P1214 and Licence P1299 (Blocks 16/2b and 16/3b) which contain the Cairngorm field the Company has entered into arrangements pertaining to the 16/2b-5 appraisal well drilled late 2008/early 2009 under which
the well services provider has agreed to defer receipt of payment for its services until July 14, 2009. Security for the deferred payment, which amounts to $15.4 million in total, has been granted to the well services provider in an agreement entered into in November 2008 by Stratic Energy Developments (Holdings) Ltd and Stratic Energy (Developments)Ltd.

Don't know whether to look at this as good or bad news?

[steelwatch] 02/7/2009 15:17

Chorus of approval at EnCore

Smaller companies

EnCore Oil seems set to be the next explorer to benefit from the North Sea grab by utilities anxious to procure new gas supplies.

EnCore said that it and its partners in the Breagh gas discovery in the North Sea are close to selling 70 per cent of the field, including EnCore's entire 15 per cent stake. A sale of the undeveloped field at about $7.50 a barrel would value the field at £400 million, said Richard Savage, of Mirabaud, making EnCore's stake worth £60 million. "Not bad for a company with a £45 million market cap," he added. EnCore rose 1¼p, or 9 per cent, to 15¼p.


Stratic Energy, flat at 17¼p, and Faroe Petroleum, down ¼p at 71¾p, both have 10 per cent of the field. The buyer is likely to be a utility which needs more gas such as Centrica, Scottish & Southern Energy or Nuon of the Netherlands.

[steelwatch] 02/7/2009 15:15

Hope Shares Mag has confused $'s with £'s.