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RAINMAN ..PA Resources PAR.OL just keeps on trucking up to 60.50 NOK..is there any near term (6 months) target in PAR.OL out there?
FFH hits $200.00!!!!Who again on this board said at $105 that this is a $200 stock, I never got in :(((((
*DJ Lionore Tgt Upped To C$14 From C$12 By TD>LIM.T --
DJ Seadrill Gets $806M Letter Of Intent From Norske Shell --
Edited Press Release
STOCKHOLM (Dow Jones)--Norwegian off-shore services company Seadrill Ltd.
(SDRL.OS) has received a letter of intent by A/S Norske Shell, on behalf of the
operator Norwegian oil and gas company Norsk Hydro ASA (NHY), for the assignment
of the deepwater drillship West Navigator on the Ormen Lange field in the
Norwegian Sea.
Seadrill said the contract has a duration of four years and nine months, and
estimated contract value is about $806 million. The commencement is scheduled
for Oct. 1.
The assignment is subject to approval by the Ormen Lange project partners.
West Navigator is currently operating for Shell at the Ormen Lange field.
10Bagger, Rainman and those interested in another NOK oil value play: ENER.OL - Ener Petroleum ASA 163NOK, another value play posted by Crossy over at SiliconINvestor...
I think I found another great independent E&P opportunity without much political risk attached .. again on the Nordic OTC, where Interoil ASA (now IOX.OL) was initially listed, too.
The metrics appear almost too good to be true: ENER Petroleum ASA, Ticker: ENER.OL (otc), marketcap of around $20m USD (!!)producing 6000-8000boepd net to them offshore NORWAY. Government approval was recently received for the underlying transaction. I had a very nice talk with their CEO, Mr. Loege. Like Interoil (IOX.OL) recently. Initially listed this spring, this firm is an Oslo OTC company.
This is the best bargain I ever saw in the last year on any play without political risk attached (North Sea, US, Europe, Australia). Why ? Because only 1.1m shares outstanding, $20m (=$170m NOK) marketcap. They acuired a 45% stake in the ExxonMobile operated Jotun field.. at the time of acquisition their share was 5400boepd, now they drilled some development wells, it should be running at 7000-8500boepd now..
The recent news release sort of cleared the last formal hurdles (government approval) and finally confirms their production of around 7000boepd net to their interest.
http://otc.nfmf.no/public/news/5478.pdf
you can get the current quote on ENER Petroleum ASA:
http://norma.netfonds.no/ppaper.php?paper=ENER.OTC
Right now it's around 160 NOK .. and the "OM Ener ASA" button tells you that only 1.1m shares do exist and a coouple of other goodies (like the ISIN number, lot size etc..)
http://norma.netfonds.no/about.php?paper=ENER&exchange=OTC
Informasjon om Ener Petroleum ASA (ENER)
Ticker ENER
Navn Ener Petroleum ASA
Børs Unoterte
Papirtype Aksjer
Er aktivt Ja
Kan handles Ja
Forrige omsetningsdag 08/11-2006
Referansekurs 155.00
Antall aksjer 1 100 000
Markedsverdi 170 500 000
Lot-størrelse 1
ISIN NO 001 027 5506
Valuta NOK
Website: www.1petro.com
http://www.1petro.com/Annual%20report%202005.pdf
http://www.1petro.com/documents/Report1stHalfYear2006.pdf
http://www.1petro.com/documents/Report3Quarter2006.pdf
Now the best is this: Marketcap is a meager NOK 200M, as there are just 1.1m shares out, costing around 160NOK each.. there are 0.6m warrants out with a strike price of north of 800NOK.. very nice valuation .. 6000-8000boepd and marketcap is a meager $20m USD. P2 Reserves around 15-20MMBO
Newsfeed
http://otc.nfmf.no/public/company/251.html
this is a brownfield company and they bought their first asset from Shell.. Shell bought Enterprise Oil last year and now is shedding properties peripheral to them, one of them being Shell's 45% stake in the Jotun field, operated by Exxon Mobile..
http://www.1petro.com/documents/New_Release_Jotun.pdf
http://www.1petro.com/Technology/documents/Jotun_facts.ppt
what is more, they are pre-qualified to participate in upcoming North sea block auctions. Their interest being OIL not GAS, targeting acreage in Norway, Sweden, Denmark and the UK
http://www.1petro.com/News/Pre-qualiffication.html
best rgrds,
CROSSY
Seadrill wins $82 mln contract for new jack-up rig --
OSLO, Dec 4 (Reuters) - Norwegian oil services firm Seadrill
<SDRL.OL> said on Monday it has won an $82 million preliminary
contract for a new jack-up rig from Exxon Mobil <XOM.N> and
Production Malaysia Inc.
The letter of intent was signed for the West Prospero
jack-up drilling rig, currently under construction in Singapore.
"The intended contract has a duration of 400 days, with
estimated value of approximately $82 million. Start-up of
operations is planned for the third quarter 2007, following
delivery," Seadrill said.
NICE PA Resources has 100% working interest there!!!!
SeaDrill related..wouldn't be suprised they buy out Aker Drilling AKD.OL..see below..Norway's Awilco ups Offrig stake in $52 mln deal --
OSLO, Nov 16 (Reuters) - Norwegian oilfield services firm
Awilco Offshore <AWO.OL> has agreed to raise its stake in Offrig
Drilling <OFRD.NFF> to 69.2 percent from 43 percent in an
all-stock deal worth about $52 million, Awilco said on Thursday.
The deal is the latest in a series of consolidation moves in
the Norwegian oil rig industry over the past few years, a trend
which shows no sign of abating.
Awilco Offshore ASA said in a statement it agreed to buy
about 13.16 million Offrig Drilling ASA shares at 25.50
Norwegian crowns ($3.96) per share in exchange for about 5.59
million new Awilco shares issued at 60 crowns each.
Awilco said in a statement that it would offer to buy out
minority owners of Offrig shares on the same terms.
The deal worth 335.65 million crowns ($52.12 million) values
all of OTC-traded Offrig Drilling at about $198.9 million.
Offrig shares rose 3.9 percent to 26.50 crowns, exceeding
the Awilco bid, by 0913 GMT on the Oslo bourse's OTC list.
Awilco shares were up 2.5 percent at 61.50 crowns, outperforming
a flat bourse <.OSEBX>.
"Shareholders in Offrig Drilling who wish to swap their
shares into Awilco are requested to contact Fearnley Fonds ASA
or Pareto Securities ASA who will assist Awilco in this
connection," Awilco Offshore said.
OIL BOOM
Offrig owns the Offrig Pioneer rig, which is under
construction in China for a second-quarter 2008 delivery, and it
has ordered a second rig, the Offrig Innovator, due for deliver
at the end of the fourth quarter 2008.
Awilco has one drilling rig, WilPower, and six more on order
with shipyards in Singapore.
The Norwegian oil rig industry has been bubbling with merger
and acquisition activity, driven by soaring oil and gas prices
which have spurred drilling around the globe and boosted daily
rates for rigs.
Consolidation was kicked into high gear when Norwegian
shipping tycoon John Fredriksen jumped into the business in
earnest through his company Seadrill <SDRL.OL> which began
snapping up stakes and whole firms from 2005.
The biggest move so far was Seadrill's $2.3 billion
acquisition this year of driller Smedvig.
Another Norwegian tycoon, Kjell Inge Roekke, has also got
into the business through his Aker Drilling <AKD.OL>. Last month
Fredriksen's Seadrill flagged it had taken a 10.01 percent stake
in Aker Drilling, prompting speculation that a tie-up of the rig
interests of the two tycoons could be around the corner.
((Reporting by John Acher; editing by Paul Gallagher; Reuters
Messaging: rm://john.acher.reuters.com@reuters.net.
DNO 15% in this one... Eni to finish Goliat appraisal well next week --
OSLO, Nov 16 (Reuters) - Italian energy group Eni <ENI.MI>
said on Thursday it expected to complete its appraisal well in
the promising Goliat field in the Arctic Barents Sea off the
coast of Norway next week.
Recoverable resources at Goliat are officially estimated at
250 million barrels of oil equivalents, but some analysts have
speculated that it could be much higher, and the appraisal well
is expected to shed more light on the potential.
"We think that the middle of next week is the earliest the
well can be finished," said Eni Norge spokeswoman Ida Kristin
Andersen.
"Analyses and (test result) figures will hardly come as
quickly," she said, adding that that information would come
first from Norway's oil directorate in line with the normal
practice.
Eni has a 65 percent interest in Goliat. Norwegian oil group
Statoil <STL.OL> holds 20 percent and small independent producer
DNO <DNO.OL> the remaining 15 percent.
((Reporting by Richard Solem; Reuters Messaging:
rm://wojciech.moskwa.reuters.com@reuters.net. Email:
10Bagger..toughest decision, buy more DNO.OL or PAR.OL at this time??..that is my biggest dilemma, not a bad dilemma to have at all!!!!
PA Resource Company Presentation Q306 PDF....NICE!
http://www.paresources.se/upload/Kapitalmarknadsträff/Delårspresentation%20061115.pdf
LSGI Advisors Fund November Report...
http://www.lsgifund.com/Investors/LSGI_11.1.06S.pdf
- UPDATE 2-High exploration costs hit DNO's Q3 earnings --
(Recasts with quotes, details, share reaction)
By Wojciech Moskwa
OSLO, Nov 15 (Reuters) - Small Norwegian oil producer DNO
<DNO.OL> posted below-forecast third-quarter earnings due to
high exploration costs, which it said were part of a strategy to
boost value through building oil reserves at low cost.
Pretax profit rose 91 percent year-on-year to 82 million
crowns ($12.83 million) in July-September but missed the 133
million crowns average forecast from a Reuters survey of seven
analysts.
Higher oil prices pushed up sales by 23 percent from a year
ago to 284 million crowns, below an expected 346 million.
Shares in DNO were down 1.5 percent to 12.01 crowns at 0931
GMT, underperforming Oslo's benchmark index <.OSEBX>.
The first western company to drill for oil in Iraq after the
U.S.-led invasion in 2003, DNO expensed 82 million crowns in
exploration costs in the quarter, up from 45 million a year ago.
"Stepped up exploration through high drilling activity and
seismic surveys are the main reasons for the higher expenses,"
DNO ASA said in a statement on Wednesday.
DNO said high costs of drilling and seismic research were
needed to utilise the oil riches found on its fields from the
deserts of Yemen to the undersea Goliat prospect in the Arctic.
"We expect continued high drilling activity in the remainder
of 2006 and throughout 2007, which will form a strong basis for
the future development of DNO," Chief Executive Helge Eide said.
DNO reaffirmed its 2006 output target of 15,000 barrels of
oil equivalent per day (boed) and plans to launch production
from its northern Iraq fields in the first quarter of 2007.
It plans to take part in 40 to 50 wells to the end of 2007.
"We have reached important milestones in exploration, and the
company is well positioned to continue to create value through
building reserves at low cost," Eide added in a statement.
BOOSTING IRAQ CAPACITY
Much of the investor interest is focused on DNO's
exploration in northern Iraq where DNO has said it has found 100
million barrels of oil and has set up facilities to pump up to
50,000 barrels per day to Turkey via Iraq's northern pipeline.
"The plan is now to accelerate development drilling within
the Tawke (field) area in order to build production capacity
during 2007," DNO said, adding that it will mobilise a smaller
drilling rig in early 2007 to ramp up output.
DNO said third-quarter sales were also hit by "a correction
of approximately 29 million crowns due to overlifting of oil" in
first and second quarters in block 43 in Yemen, where most of
the company's production comes from.
DNO, whose market cap is about $1.7 billion, earlier said
its oil output in the third quarter was 14,002 boed, down from
14,685 boed a year earlier. In October it produced 14,602 boed.
DNO's shares have fallen 19 percent in 2006 due to
disappointing production, mostly in Yemen, but also because of
initially bloated expectations for its Iraq involvement.
It trades around 22 times expected 2007 earnings, well ahead
of its peer group partly due to its 15 percent stake in the
promising Goliat field, which could prove much bigger than
presently envisaged, analysts said.
On Tuesday Eide again declined to comment on market
speculation that Statoil <STL.OL>, which owns 20 percent of
Goliat, is seeking to buy DNO's interest in the Barents Sea
field.
((Editing by Louise Ireland
Reuters messaging
rm://wojciech.moskwa.reuters.com@reuters.net
Email wojciech.moskwa@reuters.com
Telephone +47 22 93 69 62))
($1=6.390 Norwegian Crown)
Keywords: ENERGY DNO
Bobwins, looks like it is a good day to load up more LMC, and HBM...
Rainman, are you still holding DNO.OL as well? Any other Norwegians you may own....I have NEC.OL and SDRLF as well.....
Sweden's PA gains 85 pct of Congo oil licence --
glad I held on to my PA shares!!OSLO, Oct 3 (Reuters) - Sweden's PA Resources <PAR.OL> has
agreed to buy ADECO Congo BVI, whose subsidiary ADECO Congo SA
owns 85 percent of an oil production sharing agreement offshore
the Republic of Congo, the Oslo-listed energy firm said on
Tuesday.
ADECO Congo SA holds the stake in the production sharing
contract in the offshore block Marine XIV, which is an area of
about 265 square km, PA Resources said. The national oil company
of Congo, SNPC, holds the remaining 15 percent interest.
"Marine XIV lies in shallow water, in the heart of the main
producing region of Congo Brazzaville, where adjacent field
production is currently around 75,000 barrels of oil per day
(bopd)," PA Resources AB said in a statement.
PA Resources said earlier exploration on the block made at
least one oil discovery, testing at rates of 1,500 bopd.
"The discovery was estimated by an independent auditor to
contain probable reserves of 45 million barrels of oil," it
said.
"Given rig availability our plan is to develop this block as
soon as possible," PA Resources Chief Executive Ulrik Jansson
said in the statement.
10baggger is SeaDrill your #1 company for 2007 and beyond? stunnign revenue stream indeed!
BBOTCS, thanks for the informative post, soon all of the US in many, many ways will be a Third World Country, maybe not in my lifetime but eventually we will succumb, manufacturing all but almost gone........just the beginning....what the future holds for the US?
FFH, who on this board around $107 mentioned that this is a $200.00 stock? Well they are about halfway there!!! DNO is picking up of late, any new developments that I am unaware of?
SEADRILL NEWS! STOCKHOLM (Dow Jones)--Norwegian rig operator Seadrill Ltd. (SDRL.OS) Monday
said it confirms the long-term contract worth $690 million over four years for
its West Sirius rig.
The initial letter of intent was signed Sept. 7 with Devon Energy Corp. (DVN).
The contract includes the option for another five or six years.
West Sirius is currently under construction at the Jurong Shipyard in
Singapore and is scheduled for delivery in the second quarter 2008.
(END) Dow Jones Newswires
Sweden's PA gains 85 pct of Congo oil licence --
OSLO, Oct 3 (Reuters) - Sweden's PA Resources <PAR.OL> has
agreed to buy ADECO Congo BVI, whose subsidiary ADECO Congo SA
owns 85 percent of an oil production sharing agreement offshore
the Republic of Congo, the Oslo-listed energy firm said on
Tuesday.
ADECO Congo SA holds the stake in the production sharing
contract in the offshore block Marine XIV, which is an area of
about 265 square km, PA Resources said. The national oil company
of Congo, SNPC, holds the remaining 15 percent interest.
"Marine XIV lies in shallow water, in the heart of the main
producing region of Congo Brazzaville, where adjacent field
production is currently around 75,000 barrels of oil per day
(bopd)," PA Resources AB said in a statement.
PA Resources said earlier exploration on the block made at
least one oil discovery, testing at rates of 1,500 bopd.
"The discovery was estimated by an independent auditor to
contain probable reserves of 45 million barrels of oil," it
said.
"Given rig availability our plan is to develop this block as
soon as possible," PA Resources Chief Executive Ulrik Jansson
said in the statement.
((Reporting by Marianne Fronsdal, editing by William Hardy,
Reuters messaging:
rm://marianne.fronsdal.reuters.com@reuters.net, Email:
marianne.fronsdal@reuters.com, Telephone: +47 22 93 69 73))
Keywords: ENERGY PARESOURCES CONGO
PA Resources good news!!!1150 GMT [Dow Jones] PA Resources's (PAR.OS) production should double in two
months as Elyssa drilling is expected to continue in late 06, says
Handelsbanken. Says shares should also jump if ouput from Didon starts as
planned in early October, bringing production up to 20,000 barrels oil
equivalent a day. Keeps buy rating and SEK69 target on shares, trading -0.9% at
SEK44. (CAP)
RNO flying up .14, didn't buy in yet though..good luck....
FFH on a tear here up $6.00
RGMI, what happened today? I see no new news...
DNO NEWS... SYDNEY, July 13 (Reuters) - Australian-listed oil and gas
producer Oil Search Ltd. <OSH.AX> said on Thursday it had
recorded elevated mud log gas readings and oil shows at its
Nabrajah-11 well in Yemen in the Middle East.
The Papua New Guinean company said it now planned to proceed
with further logging and sampling of its readings before
deepening the well or running a testing program at Nabrajah-11,
west of production well Nabrajah-5.
Nabrajah-5 came online last November and has been ramping up
towards full production rates of 50,000 barrels of oil a day,
expected during the fourth quarter of 2006.
The field, in which Oil Search holds a 28 percent stake, is
operated by Norwegian independent oil producer DNO <DNO.OL>, with
57 percent. The Yemen Company holds the remaining 15 percent.
((Reporting by Paul Marriott, editing by Richard Pullin;
paul.marriott@reuters.com; +61 2 9373 1819))
Keywords: ENERGY AUSTRALIA OILSEARCH
SEADRILL NEWS HAMILTON, Norway, July 7, 2006 (PRIMEZONE) -- Reference is made to the press
release sent earlier today regarding the approved prospectus for the listing of
134,000,000 shares in Seadrill Limited on the Oslo Stock Exchange. The new
shares will be listed on Oslo Boers as from 10 July. Seadrill Limited has as
previously reported, increased its share capital by USD 268,000,000 through the
issuance of 134,000,000 new shares in three private placements in January,
February and April 2006. The new shares in Seadrill Limited have until now been
registered in Verdipapirsentralen with an ISIN-number separate from the
company's listed shares, pending completion of the prospectus by the company and
approval of the prospectus by Oslo Boers. As a consequence of the approved
prospectus, the new shares will as from the opening of trading on 10 July 2006
be listed on Oslo Boers and registered under the company's regular ISIN-number.
Seadrill Limited
Hamilton, Bermuda
July 7, 2006
DNO!!!, When will I get my split adjusted shares??..this should be illegal and there should be a maximum number of days allowed after a corporate action occurs that you receive the posting of that copporate action!@!!
ASPN, there goes up .18, go get some respect ASPN that you deserve!, this market is a joke!
DOES ASPN ever MISS?? too bad nat gas is off..ASPN 4.02 x 4.13 Aspen Exploration Discovers Third Consecutive Gas Well
Sacramento Valley Province, Northern California
Jun 19, 2006 11:45:00 AM
DENVER, CO -- (MARKET WIRE) -- 06/19/06 -- Aspen Exploration Corporation (OTCBB: ASPN), with offices in Bakersfield, California, and Denver, Colorado, announced today a new gas well in the Sacramento Valley gas province of northern California.
The WGU #14-8 well, located in the West Grimes Gas Field, Colusa County, California, was drilled to an undisclosed depth and encountered approximately 100 feet of potential gas pay in several Forbes intervals. Production casing was run based on favorable mud log and electric log responses. This was the tenth successful gas well out of ten attempts by Aspen in this field. All of the wells Aspen drilled in this area were drilled based on a 3-D seismic survey acquired by Aspen several years ago. Aspen plans to drill several more wells in this field this year. Aspen has a 21% operated working interest in this well.
The Morris #1-13 well, also located in the West Grimes Gas Field, Colusa County, California, was drilled to an undisclosed depth and encountered approximately 80 feet of potential net gas pay in the Forbes formation. Production casing was run based on favorable mud log and excellent electric log responses. After the casing was run to protect the upper potential gas horizon, Aspen moved in a completion rig and drilled deeper with an underbalanced drilling system and encountered additional gas pay in another Forbes horizon. This deeper Forbes zone tested gas at a prolific stabilized flow rate of 3,300 MCFPD. Aspen will produce the lower zone first and then perforate the upper zone in the future.
Aspen currently has 3 drilling rigs operating on its various prospects located in the in the Sacramento Valley of northern California and the San Joaquin Valley in central California.
Aspen drilled ten successful gas wells out of ten attempts in 2004 for a 100% success rate, and nine gas wells out of ten attempts in 2005. During the last 5 1/2 years, Aspen has participated in the drilling of 39 operated wells, 34 of which were completed as gas wells, and 5 dry holes which were plugged and abandoned, a success rate of 87%. Aspen currently operates 55 gas wells and has non-operated interests in 20 additional wells in the Sacramento Valley of northern California, and has an exciting drilling program planned for 2006.
Future news releases will keep shareholders informed of Aspen's continuing progress and drilling activity. Aspen's stock is quoted on the OTC Bulletin Board under the symbol ASPN.OB. For more information concerning Aspen, contact Bob Cohan, President and CEO, in Aspen's Bakersfield office at (661) 831-4669. Aspen's web page can be found at www.aspenexploration.com.
DISCLAIMER
DNO (DTNOF) after the 4 for 1 split is currently trading at 13, which is roughly 2 USD, 1 USD=6.20 Norwegian Krone (NOK)....I think I will buy more today to add to this position
SeaDrill time to buy some more!
SDRLF, DNO incredible buying opportunity, loks like another ugly day for the markets though Jpana, etc...hold on for the rough ride ahead...
Where is RAINMAN?
10BAGGER interesting!! Why Oslo Exchange?China oil rig maker seeks Oslo, Singapore listing
Last Updated(Beijing Time):2006-05-24 15:35
China's top deepwater offshore oil rig maker Yantai Raffles Shipyard Co. Ltd. plans to seek a mainboard listing on the Oslo or Singapore stock exchange in 2007, its CEO said on Wednesday.
He also said that Yantai -- which is headquartered in Singapore and which listed on Norway's over-the-counter board earlier this month -- has an order book of $800 million to build new offshore oil rigs and specialised ships for the offshore oil industry.
"We are looking for an exchange where investors appreciate what we do and know the business we are in. Oslo and Singapore both offer that environment," Brian Chang, Chairman and CEO of Yantai Raffles, told Reuters in a telephone interview from the northern China port city of Yantai at the Bohai Sea.
Yantai, which has a market cap of about $500 million, is currently building three semi-submersible drilling rigs, two "Floating Production, Storage and Offloading" (FPSO) vessels, one "Floating Storage and Offloading (FSO) vessel and a "Heavy Lift Ship", which can transport entire oil rigs as well as offshore oil exploration equipment.
Chang, a Singaporean national, said he was confident that because of a boom in offshore exploration, his customers will excercise their options to order five more semi-submersible rigs and three FPSOs within the next 12 months.
Some of these option excercises and more new orders should take Yantai Raffles's order book to $1.2 billion by the end of 2006, Chang said. (Reuters)
10bagger, SEADRILL NEWS!HAMILTON, Bermuda, May 24, 2006 (PRIMEZONE) -- The self-erecting tender rig T-6,
in which SeaDrill holds a 49 percent ownership interest, has been awarded and
has, subject to some conditions, accepted a letter of intent for a three-year
contract with the Carigali-PTTEP Operating Company Berhad. The contract is
expected to commence in December 2007/January 2008 in direct continuation of the
current contract commitments. Estimated contract value is approximately US $95
million.
SeaDrill Limited
RGMI ONCE AGAIN MY ONLY BRIGHT SPOT!!!
RGMI is one bright spot today!
Bobwins, CZE CHOICE RESOURCES running here up .12, 13%, probably a news leak on their current drilling results....
CHID going to break $1.00 today??