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Whew, bot some real losers on Thursday...
Why didn't you tell me the oil
sector wasn't Cool anymore?...
https://oilprice.com/Latest-Energy-News/World-News/OPEC-Expected-To-Keep-October-Output-Quota-Flat.html
So we watch...LJ
$4.60’s reload time
Thinking long, we need our crude supplies for a couple more decades at least
spec
When a company shoots for pie in the sky production they are on path to fail !
Another dry hole will put them under and no one can then save this turd .
jmho
From YeeHaww, but not the comments section (or "comics section")
this is a Simply wall Street bit on EGY
https://finance.yahoo.com/news/ran-stock-scan-earnings-growth-134351125.html
The writers there never really seem to get into the full depth and bandwidth of the companies that they write up
but they sometimes manage to pull some data together that is useful
their visuals are useful in this article
Ihub has its positives and negatives, but serious and useful conversation is far more likely to be found here
GLTY
spec
Thanks, at least 4 of the dozen vessels (including one of the Burbon PSVs) are at the SEENT platform area, so they’re probably included in the drilling budgetary numbers
The Skandi Constructor and the other Bourbon vessel are in the northern group at Etame
With the additional options exercised, drilling will continue into 2023
So far it’s all good news with the exception of the short weather delay
spec
Found this article and posted it Tuesday
morning for followers...
https://www.offshore-energy.biz/drilling-of-fourth-well-off-gabon-in-full-swing/
Might as well post it here...
It was most recent that I've found...
Might as well keep the pads on
though, just in case...
Thanks for your updates...
So we watch...LJ
Feels like the beatings are getting softer
Hard to figure though, this one pushed north of the $7 mark several times with strength since the Russell inclusion
And crude pricing is still strong
More than a dozen vessels working the Etame platform areas currently
spec
Ahh the portal of intellect, the yeehaww board
Home of the brainiacs
"up to $25M in golden parachutes" going to TGA board and mgmt
Golden parachutes for TGA mgmt, a legit concern
The $ amount and the other confused garbage in that quote is a waste of 30 seconds to read it
spec
Repost from the EGY Yahoo board
This could be interesting . JMHO
Re:::Don2 days ago
The statement below comes from the SEC filing by Vaalco:
"The arrangement agreement requires that VAALCO issue and deliver to TransGlobe shareholders the consideration shares which are approximately 49.3 million shares of VAALCO common stock. In order to issue the consideration shares to TransGlobe shareholders in connection with the arrangement, it is necessary to amend the VAALCO Certificate of Incorporation to increase the amount of authorized capital stock from 100,500,000 shares, divided into 100,000,000 shares of VAALCO common stock and 500,000 shares of VAALCO preferred stock, to 160,500,000 shares, divided into 160,000,000 shares of VAALCO common stock and 500,000 shares of VAALCO preferred stock".
Vaalco has issued about 57,000,000 shares according to last quarter financial statement. With the additional 50,000,000 shares needed to complete the deal, they would need a total of 107,000,000 shares. Vaalco has already filed a shelf registration for $150,000,000 or approximately 29,000,000 shares at today's price back in Dec of 2021. Why do we need 60,000,000 new shares, when we have everything already in place to complete the deal?
My gut feeling is that there may be up to $25,000,000 in golden parachutes going to TGA board member and management. I think we need to know by Monday, exactly why we need all these additional shares. Without any explanation, I am voting no on 1st Amendment Proposal.
Less
jmho
Some unrelated Equatorial Guinea oil news
to read and think about...
https://www.offshore-energy.biz/uk-based-firm-records-largest-ever-realised-crude-oil-lifting/
So we watch...LJ
thanks, with my luck, Megalodon will show
up and join the activity...
Would be a heck of a fish
tail though...
nat gas price likely helped guide
REI into taking on debt to almost
double their production...
nat gas at 9.33/mcf right now is
about triple high, average price...
so we watch...LJ
Skandi vessel, FSO&tug, Bourbon PSV, and several other work vessels for a total of about a dozen on site at Etame ...
... that's a lot of moving blips on radar at 4 AM
They're pros, and the installation is proven technology, so I don't expect any problems
Yet I admit, I'll be a notch happier when production is flowing into the FSO
On a side note, interesting how natural gas has gotten completely untethered from norms, especially on that side of the pond
Winter heat and kilowatts gonna get craaazy $$
spec
Yep, I just did listen to the webcast replay
I don't see anything that was BS
Basically they said the special dividend on a one-time basis was lees desirable than the shareholder returns that the combination and resulting sustainable divi would give
add in the reasonable conclusion that the combined company would trade at a higher multiple
the value that you thought was coming in a divi was also fully baked into the exchange rate for your shares
don't forget the remaining $40M modernization fees to be paid over time
I understand your pain, but the math you were using forgot a few lines
spec
TGA accounted for EGPC concessions in 1st quarter
of 2022...
Gains of 8 million were mentioned
in the pr...
Big Gains in accounts receivable on
balance sheet for 1st quarter, 2022
versus 4th quarter, 2021...
https://finance.yahoo.com/news/transglobe-energy-corporation-announces-first-060000953.html
2nd quarter pr also stated same, that
EGPC concessions were included in
2nd quarter financials also...
Concessions didn't say windfall cash
to fund extra dividend payout...
that was stocktwit enrichment post ideas...
TGA is in right place with a pending
closing of merger with EGY to see
bigger dividends and stock buybacks...
(unless oil price falls back to the
$60/bbl to $70/bbl price range)
so we watch...LJ
Hey spec machine
maybe you should listen to the TGA CC , the last part on the question of the supposed big TGA dividends
what a joke with a bull shit answer
jmho
What a crock of pure BULL SHIT
The TGA CC
Has joker Neely when is the next lifting , bet to look up your asshole to find the answer
jmho
thanks for good news, unpredictable part
seems over...
transport thru Atlantic done without
disruption to timeline...
due to later starting hurricane season
with Atlantic tropical waves forming...
Pro crews should handle their job tasks
because that is what they get paid to
do on a regular basis...
Dip in some sales comes in price lull
until October when prices are likely
to soar again unless war ends...
So we watch...LJ
The FSO and the installation vessel are there
Several other work vessels there too, maybe an ROV or dive vessel in the mix
The FSO appears to be "standing by", ready to me swapped
The EGY beatdown seems worse than others in the sector, possibly a view toward production interruptions either as planned, or possibly longer than expected, in this quarter
The risks are significantly higher when there are this many operations in play, especially when they need to function together such as the subsea equipment and flowlines
spec
TGL symbol on LSE is likely problem
holding back the TGA share price
as being most likely to have
selling now of oil sector companies...
Old Chap they aren't in to those
high energy prices over there...
https://finance.yahoo.com/news/vaalco-energy-inc-sets-record-060000146.html
Doesn't seem like EGY is holding
down the TGA share price...
Only a Peon opinion, of course...
And my votes can be bot, but at much
higher price on EGY than now...
So we watch...LJ
That's a joke with limp TGA in picture
for the pending deal...
No one buys extra baggage
to tote around...
EGY has control with plenty of
shares anyway...Treasury shares,
management shares, yada, yada, yada...
$50 million rainy day fund in Treasury
shares about now, more or less...
So we watch...LJ
EGY shook out retail same time last year
but just under lifted then...
They also came back with a
tax gain adjustment at year end...
Taxes should be static based on
lifting date which sets price sale...
So the quote 'adjustment' is odd...
Gabon doesn't get paid more because
price went up from sale date till
date they get a payment...
IS THE FSO there yet?...now we
access your super moon functions...
So we watch...LJ
I don't know the answer to your question as it relates to the slide deck
but the tax changes are at the 27 min mark on the CC
between slide 14 & 15 and the CC mention of the Gabonese tax rates, excluding corporate costs from cost recovery, previous tax credits on OPEX, yada yada ...
somewhere in there my brain froze, sheesh
rithmatik shouldn't be that hard
spec
Repost from Yahoo EGY message board , this could be big and the reason for the big EGY short interest . JMHO
Re::GARY10 hours ago
$EGY conversation
Hang on to your hats...Big rumour out of Houston is Vaalco may be sold. I'm trying to find out who the buyer is but so far the only tidbit I have heard is buyer may be from India. However, I have no idea how accurate info is.
Note i have had to many stocks that had high short numbers and then a cheap take out .
JMHO
Hey my guess you are saying management is speaking with forked tongue
jmho
EGY projects about $34/bbl cost after FSO
and pending merger costs...
But only shows $10/bbl taxes, which
were much higher 2nd quarter, Did they
explain WHY in Conference Call?
https://d1io3yog0oux5.cloudfront.net/_65adfde254db4bd95afd95e2f83f8ec8/vaalco/db/776/7721/pdf/Q2+Supplemental+Earnings+IR+Deck+Final.pdf
G.S. pegs $130/bbl Brent as 2022
target at year end...
https://oilprice.com/Latest-Energy-News/World-News/Goldman-Sees-5-Gasoline-130-Brent-By-Year-End.html
So we watch...LJ
U.S. has to import sour crude for refining...
have plenty of light sweet crude
in the Permian basin...
bigger impact than may first be
thought but hopefully quick repairs
can be done with no harmsss...
While almost half of the US Gulf’s oil production could be shut in following Fourchon leak impacting Shell Mars, Amberjack pipelines, only about 2 barrels leaked and should be quickly fixed, per Port Fourchon director.
— Jordan Blum (@JDBlum23) August 11, 2022
here's a little bit on one of the pipelines mentioned
Yes, it's heavy sour from Egypt
So it makes sense that they were tran-shipping Russian grades (Urals are also sour) in the black market through Egypt
Not sure what "alternate flow routes" are feasible for the Shell platforms but there is a need for sour grades in our Gulf state refineries that are geared for it
I believe they can easily switch from refining sour to sweet, but it's not the best use of the equipment
I doubt they would mix production from the platforms in question and another producer's sweet grades in the "alternate" pipeline
Not going to be a quick fix either
Upside risk in crude markets has always exceeded downside risk since the Ukraine war
That's a big chunk of supply to be taken out, even temporarily, but TGA might benefit from improved sour pricing if drags out several months
thanks for catching that
spec
TGA produces heavier crude, don't they?...
may want to look at this...
https://oilprice.com/Latest-Energy-News/World-News/Shell-Halts-Oil-Output-At-Three-Gulf-Of-Mexico-Platforms.html
so we watch...LJ
A million barrels of oil per quarter
flowing into a new FSO is
about all we can hope for...
Following the completion of the
FPSO to FSO changeover and
full field turnaround, as well as
expected success from the new
wells, the Company expects the
2022 exit rate for December to be
between 10,500 and 11,500 net BOPD.
https://finance.yahoo.com/news/vaalco-energy-inc-announces-second-204500014.html
would take about 11,111 BOPD NRI
to meet that quarterly amount,
which would be a 20% increase over
2nd quarter of 2022 of 9,211 BOPD NRI...
A bigger dividend perhaps?...
So we watch...LJ
Don't come a knocking when Brent is rocking...
if the EGY CC was like the TGA one it was also a big joke !
The class action lawyer will have a field day with Neely and his jokers
Pie in the sky well production does not work in real time
oops i forgot to tell the bagholders that we have a big incometax bill due . ROTFLMAO
jmho
Looks like someone hosed the webcast link
doesn't help when the link doesn't work
I doubt it was anyone's fault internally, IR owes an apology at the minimum to mgmt
EGY owes an explanation to shareholders
the data speaks for itself, the CC is for MGMT to speak for itself
spec
EGY is taking a big shit in premarket
Big earning miss for a pump and dump
jmho
Dude, my .25 EPS estimate didn't use PI
to figure a big tax increase
for the quarter...
Hopefully they used PI and some
of that circles back to the company
in year end accounting...
My estimate only used the barrels
reported sold and adjusted for hedging
and figured avearge of 18% net profit
that EGY tends to operate at...
They should break down that total
20.5% royalty and production sharing
rate to Gabon on the Etame PSC
proceeds seperate from the other
taxes to make it easier to follow...
13 + 7.5 =20.5%
At least all those lifting sales are
accounted for in 2nd quarter...
And the $70 million accounts recievable
from liftings is due to be paid out
so TGA folks won't need to count
on seeing it in pro forma info...
It takes money to spend money...
https://www.sec.gov/ix?doc=/Archives/edgar/data/0000894627/000143774922019814/egy20220630_10q.htm
So we watch...LJ
EGY earnings took a big shit , missed big time !
Tomorrow EGY will get a real whipping , shorts will pound the shit out of the SP
JMHO
projected 10,500 to 11,500 BOPD NRI for 2022
year end production rate at exit
is an interesting tidbit...
Following the completion of the FPSO to FSO changeover and full field turnaround, as well as expected success from the new wells, the Company expects the 2022 exit rate for December to be between 10,500 and 11,500 net BOPD
from today's pr link...
https://finance.yahoo.com/news/vaalco-energy-inc-announces-second-204500014.html
so we watch...LJ
Revenue $110M and adjusted EPS $.52
EGY folks are voting to get .25 dividend
after proposed deal closes...
So you are posting on the wrong
board...
EGY folks want to see more cash
flow counted in 2023...
So we watch...LJ
littlejohn
No way in hell you own the dollar amount of EGY as what i have in TGA .
My guess EGY is in deep shit , big loan and falling production is NOT a good problem
jmho
TGA has a shot at $4 per share
if EGY posts earnings good
enough to move up to $6/share...
You should be shining folks shoes
on this board and wishing everyone
good luck ahead...
Watchers aren't sure you have a
red cent invested anywhere...
So we watch...LJ
Can you repost your questions in a way that can be understood?
EGY is just a pump and dump joke , just look at that so called big production decrease
jmho
Shucks, EGY will have to update those
presentations again with higher
cash balances on hand after both
companies file 2nd quarter results...
Should make next presentation more
pleasant to look at...
So we watch...LJ
'thou shalt have no other numerator gods
before me'...
ok, was that too dramatic?...
simple math...
9 is greater than 8.7...
9,000 BOPD NRI versus 8,700 BOPD NRI
for 2022 low end projection...
https://content.edgar-online.com/edgar_conv_img/2022/08/08/0001140361-22-028522_ny20004713x7_defa14aslide7.jpg
from today's 8k filing...
https://www.otcmarkets.com/filing/html?id=15998095&guid=f-1-kqr3iOcPB3h
so we watch...LJ
Het is EGY drilling another well right now ???
With EGY cutting production estimates could the well that is drilling right now be a duster ?
JMHO
check the midpoint production numbers bud !
Should be 13,000 for TGA and 9500 for EGY =22500 boe/d
But how the hot shots cut the numbers to about 19,000 BOE/D
one does not have to be real smart to see production is dropping like a rock in water and my guess it is not TGA that has dropped production .
jmho
I have no idea what you're trying to say
If you can try to compose a serious thought or question, I'll do my best to try and decipher the spelling and math and respond
spec
man you can not be real
EGY production is falling big time , open your eyes
TGA has maybe drilled 20 wells already this year amd EGY what one and now we find out it is a pisser [ not i did not say $20,000,000.00 duster
jmho
Hey spec
maybe you should go back to school , EGY production is dropping like a rock in water ! JMHO
TGA is caring the load and bagholders are voting against the dud
jmho
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