Stratic Energy Share Discussion Threads

[steelwatch] 04/11/2008 16:39

Nice finish!

[mad jack mcmad] 04/11/2008 14:50

Nice. OIL and SE. up today.

[steelwatch] 03/11/2008 08:44

Yes :)







Magnus, Esvagt Connector and Vos Commander on the tow.

[failedqs] 03/11/2008 08:23

I understand from a friend in Newcastle that the Northern Producer platform has left Newcastle and must therefore be enroute to the Don field now..... Can anyone else confirm this?

[soulsauce] 31/10/2008 16:14

Probably prospered from the IAE news.

[robizm] 31/10/2008 16:11

Very good rise in Canada and London, I hope it is not a bid at these low prices.

[robizm] 31/10/2008 15:23

Seems to be on the move today, it does have a low profile though, it makes up 10% of my sipp and it is one for the long term.

[rathkum] 31/10/2008 11:59

Stratic tipped in today's Investor's Chronicle as a buy

[rathkum] 30/10/2008 10:34

Very Frustrating for Stratic shareholders. See both Encore and Faroe showing a decent rise on the back of director buying while we are stuck at the bottom.

Very little interest in Stratic based on volume. PR?

[soulsauce] 30/10/2008 09:03

Yes seems they have a lot on the go in the North Sea that is requiring a lot of expenditure that worries me a tad especially now the OP has come off so much but hopefully Italy will not be far off starting up for more revenue and Don easly next year.

Very tempted here at this price or may buy more AEY & SQZ?

[steelwatch] 30/10/2008 09:00

Soul - nothing to the contrary, but, until Stratic announces, there will always be speculation, although may be wishful thinking from shorters!

[soulsauce] 30/10/2008 08:57

Sorry steelwatch I meant Turkey, the Black Sea thing threw me lol.

Is the $150m debt facility still valid?

[steelwatch] 30/10/2008 08:51

soul - Bulgaria?

Nervous market using bargepoles. Hopefully, we'll get over it although would not rule out the possibility of some sail trimming. Only a guess though.

[soulsauce] 30/10/2008 08:36

steelwatch amazed to see this has dropped back so far given it already has gas production from Bulgaria and other stuff on the boil.

Is this just the market or are there any worries about financing for the Don field and other projects TIA?

[steelwatch] 30/10/2008 07:57

Don Fields Development Update

During the Update Period significant progress has been made on the joint development of the Don Southwest field (Valiant 40% interest) and the West Don field (Valiant 17.275% interest) (together the 'Don Fields') located in Block 211/18a (License P.236) and Blocks 211/13b and 211/18a (Licenses P.1200 and P.236) respectively.

Development drilling is progressing on West Don with the Transocean John Shaw semi-submersible drilling unit ('John Shaw'). The top-hole sections of the two production wells and the water injection well have been drilled and the first production well is due for completion by the end of 2008. Valiant has assigned its rights to a second drilling rig (Stena Spey semi-submersible drilling unit ('Stena Spey')), to the Don joint venture in order to facilitate the acceleration of development drilling in preference to using this rig for 2009 exploration. The Stena Spey will now complete the remaining West Don program starting in January 2009 in parallel with using the John Shaw to drill Don Southwest development wells. Using the two rigs allows early access to the West Don producers and therefore the opportunity to secure first oil from West Don in early 2009.

The net result of this decision will allow the project to remain ahead of schedule at minimal additional cost and will increase the likelihood of slightly accelerating first production from West Don to the first quarter of 2009. Don Southwest is currently forecast to come on production during the second quarter of 2009 under the revised project schedule. Average production from the Don Fields for 2009 is anticipated to be in line with Valiant's estimates at the time of its AIM admission.

The infield pipelines between Don Southwest and West Don have been installed as have the first phase of subsea structures installation. The tanker Submerged Anchor Loading (SAL) unit and the remaining export pipelines are scheduled for installation all by the end of 2008.

The Northern Producer Floating Production Unit ('Northern Producer') modifications and hull refurbishment are on track and the Northern Producer is scheduled for sail-away during November.

Capital costs associated with the Don Fields development continue to be broadly in-line with original estimates. Some cost escalation has occurred since the project commenced though this is within normal project contingency levels.

======================================================

The Crawford field, operated by Fairfield Acer Limited (the 'Operator'), continues to move quickly through the conceptual phase and will shortly be into the front-end engineering and design phase. Reservoir modelling and simulation work is nearly complete and the field partners are encouraged by the results to date. An increase in the oil-in-place volumes are being reported by the Operator in comparison with the Competent Persons Report in Valiant's AIM admission document and Valiant believes this will ultimately lead to an increase in recoverable reserves. Final agreement on an export route is likely to be reached in the short term which will allow a field development plan ('FDP') to be submitted by year end. First oil is tentatively scheduled for the second half of 2010 with the project not expected to enter full execution mode until mid-2009 at the earliest. Current scoping cost estimates remain broadly in line with expectations.

Both the Crawford and Causeway fields await formal 2009 budget proposals from the respective operators.

[steelwatch] 29/10/2008 19:12

LONDON: Sterling and partners wrapped up well testing operations on East Breagh well 42/13-4 in the UK sector of the North Sea. The well tested two zones at combined controlled rates of up to 10.2 MMcf/d. The final rate was held for a period of twelve hours before shutting in for pressure build up. The stabilised test was completed on a 32/64 inch choke setting at a flowing wellhead pressure of 1,630 psi (pounds per square inch).

A lower sand was perforated from 7,635 feet (2,327 m) measured depth to 7,746 feet (2,360 m) and tested separately at rates up to 1.6 MMcf/d. This is the first time such a lower unit has been tested individually and in addition to proving gas, it provides additional upside and potential for stimulation in future wells.

The upper sands were then perforated from 7,490 feet (2,283 m) to 7,560 feet (2,304 m) and the combined well test reported above was carried out.

Sterling Resources Ltd. holds 45 percent as the operator of the licence. EnCore and RegEnergys each have 15 percent interest, Faroe Petroleum and Stratic Energy have 10 percent each, and Petroventures has five percent.

EnCore Chief Executive Officer Alan Booth said, "The results of this well suggest that the Breagh field is likely to be a single significant gas accumulation. Both wells 42/13-3 and 42/13-4 have demonstrated reservoir deliverability from vertical well bores and the latter well has also demonstrated productivity from a lower reservoir.

"The next Breagh well will help us better define how the reservoir will perform from a horizontal well, giving us a better understanding of development options, production profiles and recoverability. Incorporation of the well results into EnCore's current mapping suggests that this accumulation has the potential to become one of the larger discoveries of recent years in the Southern North Sea."

[robizm] 27/10/2008 19:48

If i can buy for 10p on tuesday then will top up. heavy voloume in canada. price is 8.5p

[failedqs] 27/10/2008 10:07

soulsauce, good article (post 150), it shows that there are buyers out there with cash willing to pick up bargains. I think Stratic could be one of those bargains just now.... very oversold.

[soulsauce] 27/10/2008 09:55

Worth a read:-



Stupid level this is at now but like so many others, many of which I hold - doh!!

[steelwatch] 24/10/2008 18:30

Financial crisis: Hedge Fund turmoil is hitting millions of savers, experts say
Millions of savers have been warned their pensions and investments will be hit badly by the turmoil now engulfing the hedge fund industry.


By Harry Wallop, Consumer Affairs Editor
Last Updated: 4:02PM BST 24 Oct 2008

Though very few private investors have their money tied up in hedge funds, everyone who owns shares will be affected – including the estimated nine million people whose pensions are invested in the stock market.

In recent days the future of the $2 trillion (£1.3 billion) hedge fund industry has looked increasingly precarious. One leading player predicted on Thursday that more than a quarter of the world's 8,000 hedge funds could collapse.

Many have already started to fail, and their troubles are one of the main reasons why the London stock market fell so heavily yesterday [FRI], wiping billions of pounds of savers' pension pots.

Mark Dampier, the head of research at financial advisor Hargreaves Landsown, said: "It affects the man in the street, for sure. If you've got an endowment maturing, or you are coming up for retirement and need to buy an annuity – you will see your savings worth much less than before.

"Hedge funds de-leveraging is dragging the whole market downwards."

The hedge fund industry has doubled in size in the last three years and proved to be one of the most powerful forces in the global financial system.

Hedge funds came about as an alternative to traditional fund managers, who invest clients' money on their behalf, in stocks, bonds, property and other assets.

Whereas a traditional fund manager's strategy is to "beat the market", hedge fund managers promise – in return for a large fee – to make "absolute returns" for their clients, making a profit even if the stock or property market is falling.

However, an increasing number of hedge funds moved away from these roots to take increasingly sophisticated bets.

The concern over hedge funds is that they are leveraged. That means they have borrowed money to invest in stock markets.

Paul Kavanagh, Chairman of stockbroker Killik Capital, said: "Some funds have borrowed up to £100 for £1 they have invested. What we are seeing is massive deleveraging, as market volatility increases."

This means that the hedge fund managers are having to pay back the debt to their lenders, but they need to sell assets rapidly to raise the money.

This has created a "wall of distressed selling", according to Mr Dampier.

The situation has been exacerbated by hedge fund investors – mostly institutions and super-rich individuals – asking for their money back. Again, this has forced the hedge funds to sell assets, which has forced down the price of many shares.

"They are trying to dress up the stock market falls as investors reacting to the GDP figures, but most of this is forced liquidation by the hedge funds," said Mr Kavanagh.

[robizm] 24/10/2008 17:49

way down in canada...........10p monday. i cannot comprehend how low this will go

[sg31] 23/10/2008 19:49

Robizm,Great isn't it,they are almost giving the bloody things away.If it goes on like this they will be paying us to take them off their hands.