Share Name Share Symbol Market Type Share ISIN Share Description
Stratic Eng LSE:SE. London Ordinary Share CA8629281087 COM STK NPV (DI)
  Price Change % Change Share Price Shares Traded Last Trade
  +0.00p +0.00% 11.75p 0 06:30:09
Bid Price Offer Price High Price Low Price Open Price
0.00p 0.00p - - -
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Oil & Gas Producers 16.2 -29.6 -0.2 - 32.03

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Date Time Title Posts
27/11/200717:59Another new oil float - but will it rock your boat ?52

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steelwatch: Annual Results due around 30 April. Oil up. Longanesi completion any time. Bugle North drilling. Enquest trading as of today. Share price moving north.
jak108: sw, Thanks for the chart of monthly production. Assuming it is net SE share, it gives 25,000barrels for Sept - i.e circa 830 bopd. They should be producing at a higher level currently assuming they have the water/gas lift issues sorted out. Any idea where we are production - wise currently?
rathkum: We have a sick patient that is showing no recovery in spite of the boards optimism. No director buying even at this level and one wonders where we go from here.A flop in Syria and we could see the share price in single figures.
steelwatch: OJ was spot on. in two out of three respects, so another announcement may be in the wings, possibly for the TSX open around 14:00 GMT? JAK108 - 30 Oct'09 - 17:16 - 706 of 708 Some more commentary from OJ (message 1719, 29 Oct. 09) 'Next is another company that I own and follow. SE. The sale of Longanesi is to be announced very shortly and this along with Turkish results (which we are hoping will be good as they have a 90%+ drilling success rate there) could move the company's share price much higher. I was, however, disappointed to learn that Petrofac continues to have problems with the West Don and Don Sw Fields and getting them up to full production.
jak108: Some more commentary from OJ (message 1719, 29 Oct. 09) 'Next is another company that I own and follow. SE. The sale of Longanesi is to be announced very shortly and this along with Turkish results (which we are hoping will be good as they have a 90%+ drilling success rate there) could move the company's share price much higher. I was, however, disappointed to learn that Petrofac continues to have problems with the West Don and Don Sw Fields and getting them up to full production. See today's article from below. Northern Offshore Comments on Northern Producer's Backlog Northern Offshore, Ltd. 10/29/2009 URL: Northern Offshore has announced a revision of estimated 2010 production tariff revenues from its offshore floating production facility, the Northern Producer. The Northern Producer is on location in the Don field area in the U.K. Sector of the North Sea under a "life-of-field" term contract. The majority of revenue from the Northern Producer is derived from a tariff on production moving across the platform. The tariff is based on both the level of oil production and the price of Brent crude. Estimated tariff revenue is included in the company's estimates of its contract revenue backlog. Based on production estimates available to it, the company had recently estimated the production tariff revenues for 2010 at approximately US $84 million. Northern Offshore has now reduced its internal expectations and projections of 2010 tariff revenue from the Northern Producer to about US $50 million at current Brent oil prices. This revised estimated tariff revenue is based on many uncertain factors and assumptions that could cause actual tariff revenues to vary materially. ' I was able to discover that Petrofac should be able to rectify the problem but we may have to wait until the end of November for a final answer. It is not a problem that cannot be overcome but the fact that it still persists does now make clear why there was a recent sell off. More to come in the days ahead then. ' So there could still be some further uncertainties with West Don output?
westmoreland lad: Excuse a mo Steel -- a wee bit o/t -- but maybe not, as financial journalist Edmond Jackson, yesterday said --- A key reason why I keep small to mid cap oil exploration and production companies (E&Ps) in the frame is scope for an attractive risk/reward profile. The underlying commodity prices tend to be volatile and hard to predict but there are times when factors combine to make an attractive prospect. AIM-listed Faroe Petroleum (FPM) is currently interesting. The company effectively spun-off from Dana Petroleum (DNX), the North Atlantic Margin originating as a special project within Dana when Graham Stewart, Faroe's chief executive, used to be Dana's finance director. Dana retained a stake and raised it to 27.5% as the company's principal shareholder. I own shares indirectly via Dana, although Faroe is the one with potential to multiply in value given a market value of £73.5 million versus a portfolio of substantive prospects. It has been announced that over last weekend, Faroe spudded an exploration well on the Glenlivet prospect in the West of Shetlands, with a second well, Tornado, due imminently. Analysts have estimated these two wells have scope to more than double Faroe's net asset value of 70p a share, which is in line with the current share price. The shares have not raced up in anticipation of these high-potential prospects; the price is trading in a relatively low range compared with 150p to 200p from 2005 to 2008 when hopes ran higher. It would indeed be wise to take a cautious view of drilling, as even 'successes' may not be commercial, however Faroe has nine key wells over the next two years. A few days previous, on 19 August, Faroe announced that it had entered into the second phase of exploration relating to two Norwegian licences, with commitments to drill two wells, T-Rex (30% interest) and Butch (15% interest). The sense of momentum building up usefully is also implied by two grants of long-dated share options on 23 July, while the share price is relatively low. The chief executive was awarded 570,600 and the technical director 400,500 - both exercisable at 69p at any time from July 2012 to 2019. Performance criteria are attached. In for the long-haul, too Faroe is not just a short-term play: the nine-well programme includes scope to drill up to seven further provisional wells. The programme is fully funded, for example Faroe's recent sale of its interest in the Southern North Sea Breagh gas field raised £25.3 million which further bolstered cash reserves from (the end-December figure of) £16.7 million. Of £79.4 million net assets at end-2008, £66.5 million represented intangibles and there was also £30.5 million current tax receivable, so the balance sheet needs proving up - however this is a typical state of affairs with emerging E&Ps. The 2008 income statement showed a pre-tax loss of £28.8 million although nearly £20 million of this involved exploration and evaluation expenses. Faroe shares therefore need to be regarded as an intelligent speculation than having proven investment criteria. This is typically the case during the period when an oil and gas firm has more emphasis on 'E' than 'P' but on a five to 10-year view this can radically alter. Hence the ten-year options as management incentive to achieve robust value. Bear in mind, losses are likely for at least the next two sets of annual financial results; with an E&P at this stage you are taking a view on the prospect to transform the asset base, the losses being expenditure to achieve this. You can learn more by visiting, an award-winning website for its information. The group's risk/reward profile has improved through diversification from the Atlantic Margin (Faroe Islands and UK West of Shetlands) to the North Sea and Norway - quite reflecting key aspects of Dana's strategy. A 50 licence portfolio including partnerships with various majors with a strong track record in oil & gas exploration and development raises the odds that with patience, this share can multiply in value quite like Dana has done since 2002. In a recent note, Panmure Gordon has set a 12-month price target of 200p although its being broker to the company and making a market in the shares means its comment is unlikely to be derisory. The target looks fair enough however, given the prospects involved also advances in seismic and drilling technologies. Perhaps, in the event of unsuccessful results in the short term, there could be some share price drift however the price is well down from last year's 210p high. If you consider Faroe's last 12 months' news history, it is not as if there have been exploration setbacks to trigger and accentuate the fall in share price from 210p. It looks to be primarily a result of the fall in oil prices and general de-risking by investors in the second half of last year. Two directors used the weakness to buy 20,000 shares each, near 50p, which proved the low point. So with a bit of luck at the drill bit, Faroe currently looks nicely poised. Even if the near-term wells do not prove commercial, there are plenty more prospects - hence any share price weakness possibly an even better long-term buying opportunity. Just bear in mind the aspect of gambling with an E&P at this stage, versus proven investment value.
rathkum: As the market has priced in the sale of Breagh and Italy bases on the figures you both mention above, I wonder what will be the catalyst for the share price going forward. Browmore! if it is really good?
rathkum: Any whiff of impending financial problems would be reflected in the share price weakness. The markets obviously doesn't share your sense of concern. Why put so much effort into unearthing this negative if you are not now a holder. If it is for our benefit thank you as it is nice to know you care.
ifudrillittheywillcome: The Year end results are scheduled for this Wednesday (4/29). I'm looking for a comprehensive Operations Update to include: West Don production on the 1st well, Status of the 2nd well with estimated production date. Update on drilling plans for Bowmore. Acquisition of Rig for the Syria project. Progress in selling targeted assets. They have been very quiet which hasn't helped the share price. it's time to get everything out there.
rathkum: Whilst other oil minnows are enjoying a good run lately, I guess Stratic shareholders will have to wait for the Don announcement to kick start the share price.
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