Valiant Petroleum Share Discussion Threads

[ohisay] 25/6/2012 07:25

Looks to me like news got out last week - Also surprised it took them half the alloted time.
Now looking like takeover fodder.

[ohisay] 23/6/2012 18:18

I bought on Friday at 377p - I will continue to buy below this on the basis its good value under 380p.
Skimmed off most of my holding at 560p* just on the basis of the wider market going pear shaped.Daft not too - its just POO leveraged .

I still like VPP and if latest well results are good - 8m boe net to VPP - then 450p is reasonable - otherwise this will get taken out - only obstacle is possible commissioning issues at Causeway.

[utrecht_00] 23/6/2012 14:23

should't matter too much to VPP as I believe they hedged their porfolio at $105mm. This stock is definitely in the toilet though. I wonder if someone will take it over?

[red ninja] 22/6/2012 16:01

AP News

Oil near $78 amid global economic growth worries

By Pablo Gorondi on June 22, 2012

Oil prices made small gains above $78 a barrel Friday but remained near eight-month lows after signs of slowing global economic growth triggered a sharp plunge this week.

By early afternoon in Europe, benchmark oil for August delivery was up 33 cents at $78.53 a barrel in electronic trading on the New York Mercantile Exchange. The contract fell $3.25 to settle at $78.20, the lowest since October, in New York on Thursday.

In London, Brent crude for August delivery was up 98 cents at $90.21 per barrel on the ICE Futures exchange.

Crude fell from $84 earlier this week and has plummeted 26 percent in less than two months as signs mount of a slowdown in the global economy, led by Europe, that would reduce demand for crude.

"Until a permanent solution is found to the eurozone's problems, the global economy is likely to muddle through this crisis for a considerable while, and persistent bouts of risk aversion are likely to haunt the oil markets, making any sustained upside difficult," said analysts at Barclays Bank in London.

Reports on Thursday that showed industrial production is slowing in the U.S. and China added to evidence that the world's two largest economies and oil consumers are weakening just as global crude supplies are growing.

Europe's debt and economic woes are unlikely to be solved soon. The formation of a new Greek government this week briefly boosted investor optimism, but doubts about other debt-ridden European countries such as Spain and Italy continue to weigh on markets.

"Currently, all indicators point to continued sliding prices: sentiment on the financial markets remains very gloomy, economic growth is set to slow even further, the U.S. dollar is still showing strength and no rapid solution to the 'euro crisis' is in sight," said a report from Commerzbank in Frankfurt. "Nonetheless, we believe that the fundamental supply/demand situation is in a better state than market prices would suggest and that commodities will reach a price bottom by the late summer at the latest."

In other energy trading, heating oil was down 0.07 cent at $2.5224 per gallon while gasoline futures gained 1.44 cents at $2.4664 per gallon. Natural gas was up 0.4 cent at $2.586 per 1,000 cubic feet.

[utrecht_00] 21/6/2012 11:21

wow 154 million market cap.

[utrecht_00] 20/6/2012 13:31

well, this is still well and truly in the dog house...

[ed 123] 14/6/2012 16:49

Uncrossed at the day's high and over 2 million shares turnover today.

Getting greedy after the bid for NPE (still holding); wanting the same for my VPP.

[utrecht_00] 14/6/2012 14:10

Ed123, you and me both buddy. 6 quid, good night and good riddance to an unlucky company and (for me) a useless BOD.

[ed 123] 14/6/2012 13:41

Big volume again this morning and share price up on a down day for the broad market.

Probably nothing other than institutions moving in and out but I'd welcome a bid for the whole company.

[utrecht_00] 14/6/2012 13:33

mention in the times today as being a takeover target.

[utrecht_00] 13/6/2012 18:50

chart trader- Nautical has heavy oil for a start. VPP has better quality.

[ed 123] 13/6/2012 13:20

Up around 8% on big volume this morning. Enough to raise my eyebrows. ;-)

[utrecht_00] 13/6/2012 09:56

todays news makes yesterdays' fall look suspicious to me.

[sludgesurfer] 13/6/2012 08:15

from the AEY RNS this morning:

"First oil production from the Causeway Field in Block 211/23d (Antrim 35.5%) remains on track for the third quarter of
2012 with an anticipated 3,000 barrels of oil per day net to Antrim. The subsea gathering system has been installed, and
well completion work is scheduled for July. First production from the adjacent Fionn Field in Block 211/22a South East
Area (Antrim 35.5%) is anticipated in mid-2013."

[frazboy] 07/6/2012 14:24

thanks Sigala, much obliged

current and imminent production should continue to provide a floor (in as much as any floor can be provided) under the SP

as for the 2 dry holes (Cladham and Orchard) there was always a 50% chance (combined) that they would be dry

happy to continue to hold

[utrecht_00] 06/6/2012 18:17

sell the company, no one has any faith left in it.

[sigala] 06/6/2012 17:48

Frazboy,

From a VPP RNS earlier this year:

"The Borgsten Dolphin semi-submersible rig has been booked to complete the existing production and water injection wells in the field and first oil remains on-track for the middle of the second half of 2012."

I checked out the Borgsten Dolphin - its operated by Dolphin Drilling - so not Awilco - thank goodness.

I am sure we are all hoping that VPP have a bit of luck with their operations soon - although I think the BoD need to have a hard look at their corporate strategy as well - for a company of our size - is all this speculative drilling of what seem to be marginal propects really in the best interests of the company? Are our string of dusters a sign of over optimism on behalf of the company management?

I have said it here before but I would be happier if a larger % of our dwindling cash flow was invested farming into existing discoveries that just need developing. I saw Enquest recently purchased a nice chunk of extra working interest in the Dons South West - I think they only paid about $30m for it and it will no doubt make them many multiples of that back over time. That's the kind of easy win I wish our BoD would consider doing. OK, its not as glamorous for an oil man as hiring giant drilling rigs and hoping for the big gusher - but if I had wanted a lottery ticket I could have bought that from my local newsagents.

I am prepared to accept some exploration - but the management need be hard headed and realistic about the chances of success.

OK - rant over.

Sigala

[ed 123] 06/6/2012 12:46

Utrecht. Agree, it's looking poor, especially against the ipo price. Losing patience myself too. Another two dusters and a bid of 400p could succeed. :-(