Venture Production Share Discussion Threads

[o1lman] 26/8/2009 12:18

ludlow when u posted at 1027 AMER was already up 12% and now is only up 6% so they are actually down since 6% since your first post, if u want to post please allow a bit of truth to creep into your posts.
Just binned my VPC annual reports, will never find out how the fields turned out now because will not be buying CNA

[ludlow3] 26/8/2009 10:27

AMER NOWGOING UP NEWS ON WAY BUY

[o1lman] 26/8/2009 10:19

Bounty, I'm willing to post here if I have anything I think worth contributing, anybody who want's to post just to be confrontantial I am going to ignore 100%, even if it may not be the proper thing to do.

[bountyhunter] 26/8/2009 10:04

CWA - I guess that there's not going to be an awful lot more to say about VPC now so I'll tidy up the thread when I get the chance and remove some of the VPC specific stuff so that it's more general

[o1lman] 26/8/2009 09:48

The most interesting and maybe the safest oil share is CEO, just started producing, consensus earnings this year 30p next year 65p, so some margin for error.
News of a well being drilled any day now, prolific area, when this well is finished moving on to another well Si-That 3.
They have another rig which is going to drill a water injector before moving onto the Songkhla B which is of great interest and then the Bua Ban field.
No current pe as only just turned profitable, projected pe 7 rolling on to 4.

DYOR here's a starting place.

AIM: CEO
TSX-V: CEN


Coastal Energy Announces Drilling Contract


Coastal Energy Company (the "Company" or "Coastal") (TSX-V: CEN, AIM: CEO), an
independent exploration and production company with assets in Southeast Asia,
announces that its wholly-owned subsidiary, NuCoastal (Thailand) Limited, has
entered into a three month contract with Atwood Oceanics Pacific Limited for the
charter of the Atwood Vicksburg jackup rig. The contract gives the Company the
option to extend the duration of the contract by an additional three months.
The Company plans to utilize the Vicksburg in developing its properties offshore
Thailand. Current drilling plans include further development drilling on the
Songkhla Lower Oligocene formation, development of the Songkhla B prospect and
the initial development of the Bua Ban field. The program also includes the
drilling of a water injector on the Songkhla Lower Oligocene and workovers of
existing producing wells.
The Company expects the Vicksburg to be on location in late August 2009.
Randy Bartley, President and Chief Executive Officer of Coastal Energy
commented:
"This is the first step toward the commencement of our 2009 drilling program.
Coastal is excited to return to the development of its offshore assets. We
expect further development of our proven reserves at Songkhla to bolster current
offshore production rates, which averaged 7,000 bopd for the second quarter with
total production for the second quarter averaging approximately 9,000 boepd. The
Songkhla B prospect also offers promising potential to add reserves and
production in close proximity to our existing infrastructure."
Additional information, including the Company's complete competent person's
report may be found on the Company's website, www.CoastalEnergy.com


Offshore Thailand -100% of blocks G5/43 & G5/50:
��
Songkhla Field: Average production of 7,000 bbl/d in Q209
��
Oligocene development wells and a water injector are planned for Q309; expected to spud late August
��
Songkhla B –Potentially high-impact exploration well planned to spud in October
��
BuaBan Field: Drilling expected to commence late 2009
��
Untested exploration potential in Songkhla Basin as well as three other under-explored Tertiary Basins within the block

[supersturrock] 26/8/2009 09:16

VPC was my biggest holding so fair amount to reinvest. Have so far bought IAE,PFC,Afren,RXP,WCC and CMSH.
p.s. like the idea of keeping this as a general oiler thread.

[ludlow3] 26/8/2009 08:36

amer good be a good bet drilling starts next month and looking good

[cwa1] 26/8/2009 08:25

So I take it everyone would be OK(especially BH) to use this board for general oil company chat in the meantime now that central trickery have stolen Venture away?

I'd certainly be interested if any of the knowledgeable posters here wanted to post some thoughts on their current favourites.

[bountyhunter] 25/8/2009 18:08

Thanks for all your input over the years Hysteron - it's truly sad to see the end of the VPC story. I agree about Wagstaff - maybe the final posts here can point us in the right direction assuming he takes up a new position or starts another oil & gas company.

[hysteron] 25/8/2009 17:46

Bounty, bomfin, ollman et a1 see you all on the next decent board. Thanks Bounty for all your efforts and GL to all former holders with their new Ventures!

Mind keep an eye out for Wagstaff.

[ygor705] 25/8/2009 17:21

Shambolic defence imo. Ab initio, VPC never really took into account that they might lose......... the white knight never even got the call!

[bountyhunter] 25/8/2009 17:06

I think I'll leave it as a memorial to VPC for now. Maybe after I've got used to the takeout of VPC I'll change it. This has been such a great share to hold/occassionally trade over the years.

[o1lman] 25/8/2009 17:03

Bounty why not retain it as a general thread for oil shares.

[bountyhunter] 25/8/2009 16:50

Hi chopsy, thks, I'll retain it and maybe duplicate the charts on the IAE thread at some point - do you still look in there occassionally?

[togo2] 25/8/2009 16:11

I am also putting my vpc money into XTR.

[chopsy] 25/8/2009 15:58

bh, don't pull this thread, I like your header. Or let us know where you copy it across to. TIA.

[bountyhunter] 25/8/2009 14:07

Hi Extrader, good point re DNX (which I used to hold) and did cross my mind. Also PMO and IAE have some overlapping similarities with VPC as both have NS interests.

[extrader] 25/8/2009 14:04

Hi bountyhunter,

IMHO you need look no further than VPC's occasional JV partner, DNX.....

[bountyhunter] 25/8/2009 13:37

well done mitzis in winning the competition, what's your next tip now that the equivalent of modern day Vikings have taken VPC out? ;-)
...it's sad to see this go for a song and tough to find an equivalent company with a balance of consistent production/revenue growth year on year and the development/exploration potential & reasonable risk profile of VPC

[mitzis] 25/8/2009 13:32

Thanks o1lman and bounty for his hard work.

[chopsy] 25/8/2009 12:49

Where do we all go next?

BUR gone
VPC gone

Where to now????


I'm in xtr.

[bomfin] 25/8/2009 12:15

gl all.

CNA got a bargain. It happens sometimes.

[lobby ludd] 25/8/2009 11:44

Would rather not have been right in saying (at the start of this saga) that Centrica would prevail (if only just).
Thanks to other posters for their contributions on this board.
For those in the granite city.....still time for one last sentimental journey on the Venture bus (the one with Venture's name on the side).