Stratic Energy Share Discussion Threads

[robizm] 23/10/2008 19:40

This company will drop under 10p soon. i bought a load at 14.5p but saving my cash as this market is getting madder by the day

[steelwatch] 23/10/2008 07:25

CALGARY and LONDON, October 23rd, 2008 - Stratic Energy Corporation (TSX Venture: 'SE', AIM 'SE.') ('Stratic' or the 'Company') is pleased to announce the appointment of Oriel Securities Limited as joint broker to the Company. Oriel's role will be primarily to help develop Stratic's institutional shareholder base in the UK.

[steelwatch] 21/10/2008 07:29

CALGARY and LONDON, October 21st, 2008 - Stratic Energy Corporation (TSX Venture: 'SE', AIM 'SE.') ('Stratic' or the 'Company') announces that it has completed the successful testing of the East Breagh well located on Block 42/13 in the southern sector of the United Kingdom North Sea.

The well was tested at controlled rates of up to 10.2 million standard cubic feet per day (mmscfd) from two perforated intervals totaling 181ft. The majority of the gas flow is believed to derive from an upper reservoir zone. The final rate was held for a period of twelve hours prior to shutting in for pressure build up. The final combined test rate was constrained by operational conditions and confirms flow potential consistent with expectations following the 42/13-3 well results.

A lower gas bearing sand was also identified in the well. This sand unit was perforated from 7635ft md to 7746ft md, and tested independently from the combined flow test above at rates of up to 1.6mmscfd. This is the first time such a lower unit has been tested individually and, in addition to proving gas, it provides further upside and potential for stimulation in further wells.

Kevin Watts, Stratic's President and Chief Executive Officer commented ''We are delighted with the test results from this important well, which are in line with expectations and provide encouragement that the Breagh East and Breagh West areas are part of a single gas accumulation. The next well in the sequence is a deviated well due to commence shortly in the western part of the structure, and is designed to test for higher flow rates to assist in determining the number of wells needed to develop the discovery.''

[failedqs] 20/10/2008 16:41

I admire your confidence steelwatch. I also wish I had some spare cash, as I think this could be a good investment at this level.....

[steelwatch] 20/10/2008 14:06

FQS - all buys today, including mine.

[failedqs] 20/10/2008 14:00

Fallen again today.... These seems dirt cheap now, but in a market with only sellers, anything can happen.....

I do see though that an "officer" of the Company picked up 25,000 shares on Friday..... Not a helluva lot, but a good sign nevertheless.

[failedqs] 17/10/2008 15:38

I think that OPEC have a meeting scheduled for early next week.... watch out for a cut in production to support the oil price.

[steelwatch] 17/10/2008 14:48

g - the W. Don development is quite advanced now and funds will already have been drawn down. Where there may be a questionmark in the future is over the production netback commencing April '09 which will obviously be affected by the oil price. However, $70 oil now may turn out to be the bottom and OPEC is likely to cutback on production soon to force up the price.

[ghhghh] 17/10/2008 14:32

Agreed but world facing recession (and possibly much lower oil prices) and the banks are desperate not to lend and will grab any excuse to pull facilty or renegotiate on punative terms.

[failedqs] 17/10/2008 14:21

The oil price we are currently seeing is about the same level as it was when the project was sanctioned, if anything the oil price is currently still higher than it was then. I would guess that whereas the decline in oil price is "not good", it wont have an adverse effect on the financials of the project..... It just means that they won;t make a huge killing now.

[ghhghh] 17/10/2008 14:05

steelwatch

Thanks.

The Borrowing Base Facility is available for the development expenditures of the West Don field following satisfaction of certain acceptance conditions.

Subsequent to June 30, 2008 the lead arranger banks under the facilities have exercised a once only market flex option to increase the margin for all the facilities by 0.75% in order to facilitate the syndication of the loans.
Consequently, the Borrowing Base Facility will have a drawn margin over US dollar Libor of 2.6%, declining to 2.25% and the Undeveloped Assets Facility will have a drawn margin over US dollar Libor of 4.5% rising to 5.75%.

My main concern is what wriggle room the banks have. Any loan agreement I've even seen is hedged with caveats.

IAE have been stuffed by falling oil price meaning that financing payback time greatly increased.

Is there a clause within Stratic's facility that allows the banks to withdraw/renegotiate if oil price falls? IMO there must be.

If anyone has a friendly contact within Stratic, would be a useful question to ask.

[steelwatch] 17/10/2008 13:38

g - don't know much about those two, but have you read these?

[ghhghh] 17/10/2008 13:29

The big big worry re AEY, Ithaca and Stratic is funding.

How will Stratic fund its commitments?

See how Ithaca are struggling.

[failedqs] 17/10/2008 13:14

Steelwatch, I agree, and the Director buys lately are a good sign.....

[steelwatch] 17/10/2008 11:14

FQS - current dislocation in the markets, including oil price may, with luck, not be quite so bad by the time oil starts pumping, which it will continue to do for a few years. Also further news to come from West Breagh and Cairngorm this year at least.

[failedqs] 17/10/2008 09:29

A year ago the oil price was about the same as it is now, but yet the share price has fallen by about 70% or so.....

I think this is undervalued now, and worth topping up. I bought only 2 weeks ago at 26p, but I'm showing a 40% loss sadly!

The Don Development continues with no negative surprises so far, and should be online within 6 months, so there should be updates over the coming months which help the price.

[steelwatch] 16/10/2008 02:28

Load-out at Aberdeen is milestone for Don Area development
Projects and Operations - September 29, 2008

A key component in the development of the Don Southwest and West Don fields in the North Sea has been loaded out at Aberdeen Harbour for shipment to the East Shetland Basin.

The Mid Water Arch weighs approximately 110 tonnes and measures 16m x 10m x 7m and is, in effect, a huge buoyancy tank. It is believed to be the largest dynamic riser system yet for UK waters.

It will be located 120m below the Northern Producer floating production facility (FPF) and 55m from the seabed to which it will be tethered. The system will support risers which will pass over it, delivering output from the two fields, the first UK development as operator for Petrofac Energy Developments Limited, in partnership with Valiant-Petroleum, Stratic Energy, Nippon and First Oil.

The structure was fabricated by OIL Engineering at its York Street facility, across the road from the port's deep-water Clipper Quay where it was loaded onto specialist support vessel, CSO Wellservicer. It was transferred to the quayside on a low-loader in preparation for the load-out.

Petrofac's Subsea Manager, Matt Huntington, said: "The proximity of facility and quayside meant that the harbour area was an ideal location to fabricate and ship the Mid Water Arch."

Captain Brian Andrew, Aberdeen Harbour Board's Assistant Harbour Master, said: "The availability of extensive quayside lay-down areas and deep-water berths at the port have proved a valuable asset in accommodating the shipment of oilfield structures."

Aberdeen will also be the location for the shipment of new anchor chains for the upgraded Northern Producer and for long term logistical support.

[steelwatch] 13/10/2008 12:34

Don Fields 211/18a – Drilling and Construction (Update 12-09-2008)

The drilling rig John Shaw is on location in the West Don field (61o29.7'N 01o25.7'E). On completion of the three West Don development wells early in 2009 the rig will move to the Don Southwest location (61o28.04'N 01o31.98'E) to drill four development wells there.

Drilling and seabed construction activities associated with the development of the West Don and Don Southwest fields is in progress. In-field pipelines and umbilicals have been now laid and some of the seabed structures have been installed.

The second phase of pipe laying by the reelship Apache will take place in mid October. Two pipelines will be laid from the point chosen for the installation of a single anchor loading base (61o26.57'N 01o29.07'E) to the Thistle installation SSIV structurelocation (61o21.78'N 01o34.49'E). These lines will be in one trench and rock dumping along their full length will follow shortly after laying.

The single anchor loading base structure will be towed from Norway and installed on location mid / late October. The floating production unit Northern Producer is expected on site from mid October. (61o29.22'N 01o27.75'E). 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.

[steelwatch] 13/10/2008 11:00

Nice to see Sir buying today.

[mad jack mcmad] 09/10/2008 19:33

Bi of interest in Canada today - up 22%

[sg31] 04/10/2008 21:05

Rathkum,He certainly does have a good track record.I'm not in Bowleven but I am into SOR/GTE another OJ favourite.

[rathkum] 04/10/2008 20:43

My other UK play is Bowleven. I am all in on these two (like in poker). Fundamentals will come into play on oil stocks once this carnage is over.

[rathkum] 04/10/2008 20:39

Yes sg31,lots of inf. there from guru OJ.

[sg31] 04/10/2008 19:17

Rathkum.You read IV as well I see.