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  1. #1801
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    Quote Originally Posted by JBmurc View Post
    My understanding is that the gas contracts low fixed prices expire in 2023/2024 .
    Looks like this could be timely.
    Russia has just announced it is cutting gas supply to Germany by more than half .
    Yes along with more Gas Flows from NT Aus from new discoveries[/QUOTE]

    No doubt Russia is forcing up the price of gas
    Australian domestic wholesale gas prices have increased from 5 to 40 in the last 2 years ($80 on the ghost market despite the government cap at 40 )
    LNG prices not quite so much but still multiples
    By my rough calculation the 20% of gas not on fixed contracts will be earning more than the 80 on the fixed contracts which will be expiring shortly .
    Cue,NZo and central petroleum sell their gas as a bundle together to save costs and get better prices-improved netback for all .The pipelines enable them to send gas to the highest bidder (‘bad weather on the east coast and coal generation unreliable means really high need for gas there-will the government intervene to stop lpg exports ? )
    Last edited by fish; 17-06-2022 at 11:19 AM.

  2. #1802
    FEAR n GREED JBmurc's Avatar
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    Cash receipts of $14.5 million were 41% higher than the previous quarter, in part resulting from a
    larger than expected Maari oil sale in May which benefited from high oil prices, increased receipts
    from short-term Australian gas sales and $0.9m in delayed Mahato receipts from last quarter which
    Cue received this quarter.
    Daily sales of uncontracted spot gas from the Mereenie joint venture linked to East Coast trading
    hubs, including Brisbane and Sydney Short Term Trading Markets (STTMs), received prices up to
    $40/GJ. Approximately 15% of Cue’s Mereenie production is sold into the short-term market daily.
    The average price received for all oil sales during the quarter was A$148.6/bbl.
    As announced on 24 June 2022, Cue executed an agreement with New Zealand Oil & Gas for a
    $7.0 million loan to support Cue’s existing exploration and development activities and ensure
    sufficient working capital remains available during expected periods of high expenditure in the near
    term.
    Cash balance at the end of the quarter increased to $23.2 million, including $7.0m in loans, an
    increase of $9.4 million from the previous quarter.....

    >>> well what we expected .. strong cashflows... 2.4mill net profit from operations ..16.2mill in cash at the bank 7mill loan from NZO

    ---Outlook

    Amadeus Basin(who knows costs here when the deep drills getting deferred)

    The PV-12 exploration well is currently being drilled. As previously announced on 11 May
    2022, Central Petroleum (CTP), the operator of Cue’s Amadeus Basin assets, forecast $3.1
    million in additional costs for the PV-12 and Dingo-5 wells to 30 April 2022. Since then, drilling
    of PV-12 has been slower than expected which could result in further cost increases. As part
    of the sale and purchase agreement with CTP, Cue is obligated to pay CTP’s share of certain
    exploration and development costs up to a $12 million cap.

    Cue’s commitment, including the CTP carry, for the remaining expected cost for this drilling
    program is currently estimated as $12.2 million.
    In the Mereenie field, the joint venture is considering 6 well workovers and 2 infill wells during
    FY2023.

    Mahato PSC

    Fourteen more wells are planned to be drilled in the PB oilfield over the next 12-14 months,
    with extra processing facilities also being constructed. Twelve of these are oil production wells
    which are expected to deliver revenue, however the timing of costs and revenue is a
    consideration of this financing. Cue’s estimated expenditure commitment for this phase of
    development is approximately $13 million.
    Sampang PSC

    The Paus Biru Final Investment Decision (FID) is expected to be made by the Joint Venture
    in the coming months, with development expenditure, if and when approved, expected to be
    incurred over the following 24 months before first gas production. Cue’s estimated share of
    Paus Biru development funding is approximately $15 million.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  3. #1803
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    Thanks . Ive punted into 3 or 4 small oilers now in a small way for the still great value down here, they havnt run yet like the big uns.Most of my money is in big guns like Woodside. I believe the oil price is going to hold up for years( with the usual up and down volatility) and that these little guys have alot more upside to come when the mkt finally realises its higher, for longer ,albeit with more risk down here. DYOR not advice.

  4. #1804
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    I'm now at a point with CUE ....I'll be happy to take 10c in a NZO or OG energy T/O ... I just don't think the ASX market cares much at all about the NZO/CUE doesn't really matter what they announce now with their projects with the larger deep Gas targets in NT Aus out of the picture till some time well into the future..

    its taken away a major kicker had we seen success as both NZO/CUE prospective Gas resource would have more than doubled CUE's net BOE in NT Aussie some 3MMboe (@$10bbl that 30mill AUD value!!)

    Still I'd rather be in CUE than pretty much most Non energy stocks.. Energy Cliff is coming and will see new record high energy costs many bankruptcies to come
    Last edited by JBmurc; 04-08-2022 at 08:56 AM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  5. #1805
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    Quote Originally Posted by JBmurc View Post
    I'm now at a point with CUE ....I'll be happy to take 10c in a NZO or OG energy T/O ... I just don't think the ASX market cares much at all about the NZO/CUE doesn't really matter what they announce now with their projects with the larger deep Gas targets in NT Aus out of the picture till some time well into the future..

    its taken away a major kicker had we seen success as both NZO/CUE prospective Gas resource would have more than doubled CUE's net BOE in NT Aussie some 3MMboe (@$10bbl that 30mill AUD value!!)

    Still I'd rather be in CUE than pretty much most Non energy stocks.. Energy Cliff is coming and will see new record high energy costs many bankruptcies to come
    I am more sure natural gas prices will have sustained highs than oil.
    Also indicated by the futures market.
    OGOG have said they are not going to make anymore takeover offers so I think you are not going to get the takeover offer.
    I have told you this before

  6. #1806
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    Quote Originally Posted by fish View Post
    I am more sure natural gas prices will have sustained highs than oil.
    Also indicated by the futures market.
    OGOG have said they are not going to make anymore takeover offers so I think you are not going to get the takeover offer.
    I have told you this before
    I agree hindsight I was wrong thinking much higher O&G prices would see some action so looking like you right OG happy to sit on their hands ....for how long I do wonder the point holding 70% of NZO ?? and NZO holding 50.04% CUE.. I guess it's more so stop anyone else making a move..
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  7. #1807
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    Quote Originally Posted by JBmurc View Post
    I agree hindsight I was wrong thinking much higher O&G prices would see some action so looking like you right OG happy to sit on their hands ....for how long I do wonder the point holding 70% of NZO ?? and NZO holding 50.04% CUE.. I guess it's more so stop anyone else making a move..
    NZO have looked into the possibility of both a cash buy for cue or for nzo shares and hold the belief that insufficient major shareholders of cue will sell out .
    I guess if the major shareholders of cue have no need to sell and believe cue is a valuable asset an impasse has been reached.

  8. #1808
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    Quote Originally Posted by fish View Post
    NZO have looked into the possibility of both a cash buy for cue or for nzo shares and hold the belief that insufficient major shareholders of cue will sell out .
    I guess if the major shareholders of cue have no need to sell and believe cue is a valuable asset an impasse has been reached.
    they should try again JAN 2015 long time ago ..https://www.odt.co.nz/business/nzog-...expected-later

    I'm sure if NZO came back with a decent offer they would get to the important 75% ... then force a delisting of CUE put a time limit for the rest of the stubborn holders dreaming of higher return then I'm sure within the timeframe NZO would get to 90.1% and take full control ...

    Then OG could (and should have) done the same with NZO ...then OG Energy could add all the CUE/NZO assets along with their Otway Gas interests and save 10mill+ in admin costs pa..not have to deal with the ASX/NZX or shareholders..



    >ASX has released a draft guidance note on removing entities from the ASX official list.

    A vote of minority shareholders may be required in some circumstances within 12 months of a takeover bid or if the delisting is intended to avoid the application of a listing rule.

    No vote would be required if a delisting intention is disclosed in a bidder’s statement, the bidder controls at least 75% and other conditions are met.
    Towards the end of a takeover bid, attention frequently turns to what a bidder can do if it gains control over a target but fails to achieve a 90% compulsory acquisition threshold.
    Last edited by JBmurc; 04-08-2022 at 08:15 PM.
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

  9. #1809
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    Quote Originally Posted by JBmurc View Post
    they should try again JAN 2015 long time ago ..https://www.odt.co.nz/business/nzog-...expected-later

    I'm sure if NZO came back with a decent offer they would get to the important 75% ... then force a delisting of CUE put a time limit for the rest of the stubborn holders dreaming of higher return then I'm sure within the timeframe NZO would get to 90.1% and take full control ...

    Then OG could (and should have) done the same with NZO ...then OG Energy could add all the CUE/NZO assets along with their Otway Gas interests and save 10mill+ in admin costs pa..not have to deal with the ASX/NZX or shareholders..



    >ASX has released a draft guidance note on removing entities from the ASX official list.

    A vote of minority shareholders may be required in some circumstances within 12 months of a takeover bid or if the delisting is intended to avoid the application of a listing rule.

    No vote would be required if a delisting intention is disclosed in a bidder’s statement, the bidder controls at least 75% and other conditions are met.
    Towards the end of a takeover bid, attention frequently turns to what a bidder can do if it gains control over a target but fails to achieve a 90% compulsory acquisition threshold.
    My impression of ogog is that they are not that kind of player.

  10. #1810
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    Quote Originally Posted by fish View Post
    My impression of ogog is that they are not that kind of player.
    Well they should have been then all would have been better off than present disdain the market gives to the two companies
    "With a good perspective on history, we can have a better understanding of the past and present, and thus a clear vision of the future." — Carlos Slim Helu

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