# SAE - Salinas Energy



## stiger (24 April 2007)

Anyone into SAE they are now producers.


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## larry123 (25 April 2007)

I plan to buy in tomorrow morning.

Their news seems impressive

STRONG OIL PRODUCTION RATES FROM NORTH SAN ARDO HORIZONTAL WELL
Salinas Energy is pleased to advise that initial production testing of the Lombardi 4-27H horizontal production well has, during two separate two hour production periods, achieved rates of 500 bopd and 1,000 bopd respectively. The latter test was accompanied by as yet unmeasured quantities of gas prompting the well to be temporarily shut in while surface equipment is modified to handle the higher than expected gas content.


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## Ang (26 April 2007)

larry123 said:


> I plan to buy in tomorrow morning.
> 
> Their news seems impressive
> 
> ...




At last I have holding these since they had a placement last year at 75 cents. The institutions that bought in back then have been waiting all this time for this news. They were always going to come good as they have Millions of barrels of oil production. We have just been waiting for them to start selling. Since they have had their down ward trend their OBV has been good, going down on small volume and up on large. I have just done a 21,89 moving average and it just crossed on the 19th april 07. It can only be up from here. Good pick larry. When  I saw researched this in the middle of last year I rememebr seeing a valuation of the oil they have at $2 / share.
kind reg
ang


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## stiger (29 April 2007)

Ang said:


> At last I have holding these since they had a placement last year at 75 cents. The institutions that bought in back then have been waiting all this time for this news. They were always going to come good as they have Millions of barrels of oil production. We have just been waiting for them to start selling. Since they have had their down ward trend their OBV has been good, going down on small volume and up on large. I have just done a 21,89 moving average and it just crossed on the 19th april 07. It can only be up from here. Good pick larry. When  I saw researched this in the middle of last year I rememebr seeing a valuation of the oil they have at $2 / share.
> kind reg
> ang



It won't take the market too long to wake up to SAE IMHO.Looking forward to future ann.I feel Sae has a big future in north America as an explorer /producer.DYOR CHeers.


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## S_Hug (14 May 2007)

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 14 MAY 2007 GOOD OIL PRODUCTION RATES CONFIRMED FOR HORIZONTAL PRODUCER AT NORTH SAN ARDO 
Salinas Energy is pleased to advise that production testing of the Lombardi 4-27H 
horizontal well has been concluded, demonstrating the well's capacity for pump-
assisted, primary production rates of 500 bopd. 

Current plans are to suspend the well pending completion of the permanent production 
facilities which are in fabrication and due to be commissioned in August. 

Commenting on the latest results, Salinas Managing Director John Begg said: 

"The successful production testing of our first horizontal producer at NSA means we 
have achieved another key milestone for the project. We can now focus on delivering the 
permanent production facilities on schedule and fully developing the field."


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## Ang (14 May 2007)

S_Hug said:


> ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 14 MAY 2007 GOOD OIL PRODUCTION RATES CONFIRMED FOR HORIZONTAL PRODUCER AT NORTH SAN ARDO
> Salinas Energy is pleased to advise that production testing of the Lombardi 4-27H
> horizontal well has been concluded, demonstrating the well's capacity for pump-
> assisted, primary production rates of 500 bopd.
> ...




At last some more good news to get this little baby going again. 
Kind regards
Ang


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## ta2693 (14 May 2007)

Ang said:


> At last some more good news to get this little baby going again.
> Kind regards
> Ang




Yes It is good news but move backwards.
What wrong with energy sector, every one move backwards on good news, such as ERN, BMN, WGP and SAE. I really do not get it.


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## Ang (14 May 2007)

ta2693 said:


> Yes It is good news but move backwards.
> What wrong with energy sector, every one move backwards on good news, such as ERN, BMN, WGP and SAE. I really do not get it.



Tell me about it i have half a dozen stock that did that to me today, however when the market goes down mystocks stay the same or go up. 
With SAE though i think some investers can't wait until August when they will have this particular well producing Oil. They would jump onto something else for know and then get back on board when it is closer to the production time
kind reg
ang


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## S_Hug (15 May 2007)

Yes, I jumped out yesterday for that very reason.  Not sure if it was the right choice as this was announced a short while ago...I'll be keeping a very close eye on it.

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 15 MAY 2007 SALINAS SECURES ADDITIONAL OIL FIELD IN THE SAN ARDO AREA 

Salinas Energy is pleased to announce that it has secured the right to develop another oil field in 
the San Ardo area. Subject to completion of due diligence, Salinas will acquire 100% and 
operatorship of the McCool Oil Pool in return for carrying out a pre agreed work program. The 
transaction also includes a first right of refusal over the nearby Brinan Oil Pool. 

Schematic of the San Ardo area oil fields 
Commenting on the transaction, Salinas' Managing Director John Begg said: 
"Our strategy is to leverage the skills and facilities we are building in the San Ardo area to increase 
our reserves, production and cash flow. The McCool field is in line of sight from our NSA facilities 
and our evaluation so far indicates it's an excellent candidate for development with horizontal wells. 
We are achieving exciting results by applying these technologies at NSA and recently production 
tested a horizontal well which flowed oil at the high end of our expectations".


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## ta2693 (15 May 2007)

Ang said:


> Tell me about it i have half a dozen stock that did that to me today, however when the market goes down mystocks stay the same or go up.
> With SAE though i think some investers can't wait until August when they will have this particular well producing Oil. They would jump onto something else for know and then get back on board when it is closer to the production time
> kind reg
> ang




Exactly as you said, when the market goes down, these stock hold very well, even go slightly upwards. They are Negative correlated with the market for whatever reason. This feature could be useful to add in portfolio to reduce volatility.


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## Ang (15 May 2007)

ta2693 said:


> Exactly as you said, when the market goes down, these stock hold very well, even go slightly upwards. They are Negative correlated with the market for whatever reason. This feature could be useful to add in portfolio to reduce volatility.




Exactly what I thought and I have been in this for a while and that is how it works all the time.
reg
ang


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## Ang (16 May 2007)

Trading halt now I have two stock on a trading halt, I wonder if it is another IPO as they announced yesturday they capped the oil feild ready for a production facility to go on line in August this year for the production of 1M barrels of oil. This will be interesting, unless they are going to give us our total forcasts of barrels as I have noticed over the last few months their share price going up and numerous announcments , inlcuding yesturday regarding the millions of balrels they have with the different oil fields. i wouldn't mind knowing what their total production capacity would be as I can't see one report that gives me that. 
The other issue I have is it showed as a trading halt, but it didn't apear on the announcement. Does any one have an explanation for that??
kind reg
ang


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## Ang (16 May 2007)

I have now just read the April qtr report and it states that they are financilly strong with over $5M available, plus being successful in establishing a line of credit to have more money available, so it isn't a IPO or cap raising. Anyone got any thoughts??
kind reg
ang


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## S_Hug (17 May 2007)

I phoned Etrade yesterday and the trading halt has been prompted by the ASX pending,(I'm assuming)  info from SAE, they have until Fri or sooner to respond.
I phoned the ASX to confirm and after the operator kept me on hold for 10 minutes while he was looking into, he then kindly disconnected the call.  I couldn't be bothered phoning back.


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## Ang (17 May 2007)

S_Hug said:


> I phoned Etrade yesterday and the trading halt has been prompted by the ASX pending,(I'm assuming)  info from SAE, they have until Fri or sooner to respond.
> I phoned the ASX to confirm and after the operator kept me on hold for 10 minutes while he was looking into, he then kindly disconnected the call.  I couldn't be bothered phoning back.




Thanks for that, it is frustrating, I wonder why the trading halt, is it good news or bad news???????????


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## ta2693 (17 May 2007)

Today is a good day for energy sector. What a pity this one is in trading halt. 
Good news or bad news, tomorrow the story will unfold.


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## Ang (17 May 2007)

S_Hug said:


> I phoned Etrade yesterday and the trading halt has been prompted by the ASX pending,(I'm assuming)  info from SAE, they have until Fri or sooner to respond.
> I phoned the ASX to confirm and after the operator kept me on hold for 10 minutes while he was looking into, he then kindly disconnected the call.  I couldn't be bothered phoning back.




Thanks for that, "ASX Pending" does any one have any idea what that means, or does anyone else know what is going on with SAE. the trading stock. I can only suggest they gues some directors are in trouble as if you look back at the announcments there were two large parcels of shares bought in early March by Directors at 27 cents and then followed a whole heap of posotive announcemntsand the price has cone to 42 cents. Insider trading breach?????????? 
kind reg 
ang


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## drasicjazz (17 May 2007)

f that is the case what would that mean for us 
can twait till tomorrow 
to much speculation for me ... 
i gues there is always doggy stuff going on with oil hey....
:brille:


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## drasicjazz (18 May 2007)

hey ya all
can someone explain me the ann from today
it goes like this...
''the securities of sae will be suspended from quotation immediately,
at the request of the company, pending the release of an ann''

sae was in trading halt for 3days and now it is appearing as
''suspend''


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## Ang (18 May 2007)

drasicjazz said:


> hey ya all
> can someone explain me the ann from today
> it goes like this...
> ''the securities of sae will be suspended from quotation immediately,
> ...




Apparently the rules are if once a stock is out on trading halt pending an announcement, if there is no announcement within 3 days the stock is put on suspension until the announcement is made. The questions is can any one tell us what type of an announcement we are expecting???? 
kind reg
ang


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## drasicjazz (20 May 2007)

Ang said:


> Anyone know anything regarding what the He!!!!!#@$%% is going on.
> Is it good or bad news??????????????????????????????????????????????????????????????????????????????




looks like we are all in for a surprice....
i ve been looking everywhere... no luck
all i can say is that it will probebly be good
because i m new to the market and i havent  had my beginnersluck... 

at this stage i have to convice myself with this kind of ''''knowledge''''


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## Ang (21 May 2007)

Capital raising @ 40 cents, however market kept strong at 42 cents.
Should start going up !!!!!!!


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## drasicjazz (31 May 2007)

does anyone knows if we can expect something here 
this is one is so dead calm
i m afraid i m loosing my nurve a bid 
:dunno:


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## doctorj (6 June 2007)

SAE put on a good show at the recent upstream energy conference and have also been a part of a greater upswing in all the junior oilers of late.  They have an active drilling program (about a well a month for the next 8 months) which will keep the punters interested.


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## drasicjazz (6 June 2007)

hey doc
do you realy think it is would be good to buy in again
the reson i sold it was because 
everything was going so slow 
even with ann sae wasn't moving at all 
and then it even started to go down

the day i sold it and both some znc and sold halfway in the day with over 30% prof  (i see that that is not every time poss)
my question is 'and im a rooky' why would anyone wait 
more than a month or more
 and hold on to it without seeing any movement?


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## doctorj (6 June 2007)

drasicjazz said:


> hey doc
> do you realy think it is would be good to buy in again



No idea and even if I had any idea, I wouldn't say because I don't have a license to give specific advice.  For this kind of advice you'll need to get the services of some kind of Financial Advisor.  No one here at ASF can or will be able to offer you this kind of advice.



drasicjazz said:


> the day i sold it and both some znc and sold halfway in the day with over 30% prof  (i see that that is not every time poss)
> my question is 'and im a rooky' why would anyone wait
> more than a month or more
> and hold on to it without seeing any movement?



How long you hold will depend on your goals, personality, tolerance for risk etc etc.  The only thing I will say on your specific situation is that 30% within a day is atypical and no sensible trading plan should expect these kind of returns.

If you want to discuss a general trading strategy (position sizing, risk management, entries & exits) there are plenty of threads here at ASF.  Try using the search facility at the top of the page to find the relevant information.


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## svensk (6 June 2007)

Just a thought, there's some nice macd-h divergence happening on the chart. Perhaps the start of a new uptrend is imminent?

Watching this keenly.


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## Ang (6 June 2007)

I have been in this one for a while and since January there has been a series of Flags with all profit targets achieved. I have attached the graph with my thoughts and I believe we have a new move up as there must be an announcement around the corner, once the anncouncment is out then the price will come down again and wait for the next run uo. My target is 58 cent, (Depth of flag) as all other flags as drawn in the past 6 months.
These are my thoughts and should not be considered as advice.
Kind regards
Ang


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## sfx (11 October 2007)

Looking to get into this one - can NE1 tell me what their run sheet has been like - ie, forecasted drilling schedules on time, hit ratio for hydrocarbons etc?!

There's been good gains, but is it promising going by the NSA forecasts?!

NE1's comments appreciated here....


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## qr2007 (16 October 2007)

According to the daytrader tip in HeraldSun wed 10/10/2007, he suggested that this SP will go up to around $0.80 and then $1.00.

Any comments?


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## sfx (22 October 2007)

qr2007 said:


> According to the daytrader tip in HeraldSun wed 10/10/2007, he suggested that this SP will go up to around $0.80 and then $1.00.
> 
> Any comments?




Time will tell I guess !!! With the market like today, I think it will be a while away, even with good announcements...


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## lazyfish (23 December 2007)

I did a bit of research on SAE and bought a few. I am not a big fan of heavy crude but I think the projects that SAE have big upsides. 

Currently NSA is producing 1000bopd, sold at approximately 80 USD a barrel (heavy crude receives a penalty). More wells will be installed next year, and production will double (Fat Prophet and Paterson both quoting july 2008). Current infrastructure on site have a throughput of 2000 bopd. Assuming this is successful, we are looking at a profit of 

2000 (bopd) * ( 80 *(crude price with penalty) * 1.1 (exchange rate)  - 15 (production cost)) * 365 * 0.8 (less royalty) * 0.7 (not sure if this is the corporate tax rate, Patersons pointed out that they also have substantial tax losses from the former REL business, not sure if they can be utilized) = NP of 30 Millions pa. Current MC is around 120M so a PE of 4.

Recoverable oil is conservatively estimated to be 5 Millon, so at least we have 6.8 years of production from NSA. I said this estimate is conservative because if you look at San Ardo just down the road, recovery is at a much higher 48%. (NSA using 33%)

Now the thing that really got me interested is Paris Valley, which is a couple miles north west of NSA. It has 100 Million OOIP (24 Million recoverable net to SAE using 48%). SAE will earn 50% interest and operatorship. The field was last operated in 1970s and was not operated due to low oil price. I did a bit of search on google and found that cyclic steam stimulation has been used successfully to recover oil, albeit at a non economical opex at that time, and this I believe is not a horizontal well. Production and recovery should be much better using a combination of cyclic steam stimulation and steam flooding using horizontal wells. They also have the option of implementing SAGD although this will incur higher CAPEX. I have asked the company what they plan to do with Paris Valley and is still waiting for a reply.

SAE will drill approximately 20 wells in the next year so should be plenty to keep people interested.


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## BenH (21 April 2008)

Anyone know what is hapeing with sae at the moment, there seems to be a bit of a shift in price and number of sellers, thinking of jumping in, what can you all tell me?


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## eddyeagle (21 April 2008)

I bought in this morning at 37 cents. 
Fat Prophets have been plugging this one big time (probably bc it has fallen heavily recently!)
But after reading a few reports I liked what I saw. Also liked the look of the graph after it bounced off the 30cent mark in recent weeks... 
Plenty of things happening this year. 



Couple of things taken from their March presentation:

- Substantial oil revenues and a +15 well, fully funded drilling program
commencing mid April 2008
- Highly experienced management and operating group in California with
proven capabilities
- Major land position acquired (~40,000 acres) in hydrocarbon rich
sedimentary basins
- Forecast oil production of over 280,000 barrels in CY 2008
- Forecast revenues over US$20M
- Margins after all expenses over US$50/bbl at current oil prices.

Growth potential from:
- NSA upside
- McCool (CY2008/09)
- Paris Valley (CY2009)
- Other low risk oilfield redevelopment projects


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## eddyeagle (1 May 2008)

Anyone else invested in / trading / following SAE?

Up 13.5% today on the back of a good announcement:



_ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 1 MAY 2008
EXCELLENT OIL SHOWS IN NORTH SAN ARDO LOMBARDI 13-27H WELL
Salinas Energy is pleased to advise that the second of the current four horizontal production well
program on the Company’s 100% owned North San Ardo oil field (NSA) has been successfully drilled.
Excellent oil shows have been encountered in the Lombardi reservoir with abundant free oil in the
samples with high electric log resistivities recorded over the entire length of the horizontal section. A
slotted production liner has been successfully run over the 1,205 feet horizontal section and the well
will now be completed and is expected to be on production within the next two weeks. The Lombardi
13-27H well has the longest horizontal section completed for production of any well drilled to date by
Salinas at NSA.
The Ensign 509 drilling rig will now be moved off location to a drill pad to the north of the main
production facility to commence the next well in the program, Lombardi 11-27H which will be drilled in
a southerly direction.
The Lombardi 10-27H well, the first well drilled in the program, has been cleaned up for production.
The well, which has oil to surface and the pump installed, will be tied into the NSA production facility
early next week. Total production levels at NSA will increase over the next two months as each new
well is tied into the recently completed 2,000 bopd capacity production facility.
Commenting on the recent successful well Salinas’ Managing Director John Begg said:
“We are delighted with the results of the drilling program to date and the extended reach we
achieved with this well validates the capability of our team to execute our development program. We
fully expect that we will meet all of our production and revenue targets for the 2008 calendar year
and look forward to continued successful building of our business in California.”_


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## BenH (2 May 2008)

Yep i jumped in as 37c, a bit down today, but i think it has potential. Im not familiar with the Fat Profits take on it, but either way, i hope its good news to come. What can you all tell me, what do they see its value to be (in your opinion) or in Fat Prophets opinion?


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## eddyeagle (3 May 2008)

Fat Prophets have said this recently regarding SAE: 

_Beaten Down Stock #1 - A small oil production and exploration company whose share price has fallen 50% from its recent peak, leaving the whole company valued at around $65 million. 

Today the company is forecasting profits of over $16 million in 2008, putting the company on a price to earnings ratio of just 4 times. If that's not enough, the company themselves think their own shares might be worth around $1.55, some 384% above their current share price. _


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## BenH (3 May 2008)

I would like to see $1.55, lol i would be happy to see 55c i hope they are not just talking up their stocks, but there is definitely potential IMO


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## eddyeagle (9 May 2008)

Well it closed on 48 cents today so we are getting there! Up around 30% in two weeks! Fat Prophets plugging it again today...


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## BenH (10 May 2008)

And up again today, im liking this little one. Im new to this, but as they say DYOR, and i did. Im up 30% already, so hey im happy with that but planing on holding long term. I hope it hits SAE's estimate, $1.55 would be yummy


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## eddyeagle (14 May 2008)

ANNOUNCEMENT TO THE AUSTRALIAN STOCK EXCHANGE: 13 MAY 2008
300 BOPD INITIAL TEST RATE FOR LOMBARDI 10-27H
Salinas Energy is pleased to advise that the first of the current four new horizontal production wells at
the Company’s 100% owned North San Ardo oil field (NSA) has been successfully tied into the
production facility.
The Lombardi 10-27H production well has tested at initial rates in excess of 300 bopd which exceeds
the Company’s expectation for this well drilled in what is interpreted to be a thinner reservoir section
within the overall field. Production rates for the NSA field have been as high as 700 bopd during the
last four days and have averaged 660 bopd during that same period.
The second horizontal well drilled in the program, Lombardi 13-27H is expected to be on production
later this week which will further increase production levels at NSA.
The third well, Lombardi 11-27H is drilling the horizontal section and is expected to finish drilling this
week when the rig will be moved to the final well in the current program.
Commenting on the current operations Salinas’ Managing Director John Begg said:
“Initial production rates from this well look very encouraging and we fully expect production levels at
the field to reach record highs within the next few weeks coinciding with record world oil prices. Our
April oil sales from existing wells at NSA of 13,696 barrels will gross the Company over US$1.3
million so by more than doubling our production rates in the coming weeks we expect a material
increase in our monthly sales revenues.”


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## BenH (22 May 2008)

An interesting day for SAE today, very strong close, keep an eye on this one tomorrow, or Monday, me thinks there may be some news coming, at least its due so i think its a fair me thinks me thinks


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## Motogoon (2 July 2008)

Whats going on with this one?! Seems like oil price goes up, sae goes down. Anyone think there's a reason for this or is it just bad market sentiment.


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## BenH (21 July 2008)

A number of reasons i have heard around the traps, company buying back their shares, short sellers, poor advertisement of the company, no new news so lack of interest, bad market sentiment, and i guess the list could go on. Im looking at jumping back in all the same, i think its time for some up movement IMO.


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## matt1987 (28 August 2008)

hi all

i have a question in relation to sae that i havent been able to solve through my initial research. from what i can see, when sae first floated they had some renewable energy technology/patents as well as their oil assets. from my brief research my understanding was that it was some type of combustion machine that produce energy. the thing is, i cannot work out what has happened to the company renewable energy assets. did they sell them ? if so what did they do with the funds ?

i like the look of sae but i need a greater understanding of the company's past and future plans.

i have also noticed fat prophets have been talking up this one for a bit now - seems that not even the fat prophet client base buying (im assuming at least some of their client bought in on the recommendation) can push up the sp.

would also appreciate any general comments.


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## rub92me (28 August 2008)

A large seller has been consistently dumping 100,000 shares on the open and close for the past 4 weeks, usually way below the bid price which hasn't helped the share price. Since yesterday the dumper increased to 150,000 at open and 100,000 at close, and today there's another 150,000. Quite clearly manipulation of the price as it typically constitutes more than 25% of the volume traded in a day. Of course the ASX does nothing about this


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## matt1987 (11 September 2008)

took a big smashing today - down over 10%

no announcements out so im assuming its just copping its fair share of the oil stock sell off due to the declining PoO. 

when i was doing a bit of research i saw that SAE had some renewable energy technology when they first listed a few years ago. does anyone know what happened to this. did they sell it off ?


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## Motogoon (11 September 2008)

Everything's just getting smashed at the moment. I'm thinking of buying back into sae. Must be good value at these prices. They were still being recommended as a buy from fat prophets at 50-60 mark so they must have good fundmentals, which i admit seems to count for absolutley nothing at the mo, but surely its just a matter of time!!!???


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## seasprite (22 September 2008)

I assume the 7.375m unlisted options at 0.40 and the 3.325m at 0.80 will expire on 31/12/08 if the sp remains this low.  Have started researching SAE. I keep thinking it looks like a good buy , which in fact it is , however looks like someone is really intent on dragging down the sp , and this is happening on days of no buyback activity and a excellent day for resources. This sort of activity does not do SAE any justice whatsoever .


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## rub92me (22 September 2008)

seasprite said:


> I assume the 7.375m unlisted options at 0.40 and the 3.325m at 0.80 will expire on 31/12/08 if the sp remains this low.  Have started researching SAE. I keep thinking it looks like a good buy , which in fact it is , however looks like someone is really intent on dragging down the sp , and this is happening on days of no buyback activity and a excellent day for resources. This sort of activity does not do SAE any justice whatsoever .



A significant holder has been selling this down, although he seems to have stopped for the moment because the price has fallen too low. I have bought some in the low twenties as I think this one has great potential over the next couple of years. A long term producing well which provides steady income, with plenty potential targets.Thirty cents will take a while to clear though if that significant holder really wants to get rid of his entire holding.


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## seasprite (22 September 2008)

does anyone know what rule 7.33 is that SAE refer to in their buy back (3E) regarding highest and lowest price paid.


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## rub92me (23 September 2008)

Rules can be found on the ASX website, see link. Chapter 7.
http://www.asx.com.au/supervision/rules_guidance/listing_rules1.htm


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## seasprite (25 September 2008)

rub92me , found the rule , thanks for that , I picked a parcel up the other day  in the low 20's , so I guess I,m in for the long haul . Looks like a sound company , already producing . The new gas line is said to reduce costs significantly as opposed to the propane units they were using and an Independent review of McCool Ranch may prove beneficial so I look forward to this being announced in the near future.


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## seasprite (3 October 2008)

So who were the tea drinking , biscuit & pancake eating shareholders who voted for ESOP (employee share option scheme) last year.
"Options shall be issued at an exercise price to be determined by Directors and shall be no less than 110% of the weighted average market price (as quoted by ASX) of the company's shares for the 28 trading days prior to the issue of the Options. " 
 Hello read the fine print before you tick the box in between sipping and donut munching . In good times you give them nothing because there is bound to be a bad time , and in bad times you give them a little lee way. I would have thought having a job would be incentive enough .
 If I were a director I would push the share price as low as I could for the lowest weighted average market price because shareholders said that I could.


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## rub92me (3 October 2008)

That's quite selective reading you present there seasprite. The incentive scheme has 3 components, this is one of them. The amount of options we are talking about is also very modest. Overall I would say their compensation scheme is best in class. And the management have done a fantastic job as well, despite the current shareprice. The idea that directors would, or even could, deliberately drive down the shareprice for your suggested purpose is preposterous imho.


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## seasprite (8 October 2008)

SAE is sure to benefit with their share buy back at these prices and anyone with spare cash. 0.15c can it go any lower.


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## rub92me (8 October 2008)

It actually is already lower: 14.5 cents, which gives them a market cap of $35 million. They should be achieving revenue of 22-25 million for the calendar year with cash in the bank around 10 million at end of year. Margins are obviously getting smaller with the lower oil price, but exchange rates have compensated for that to a large degree so far. They have a long term producing asset with a low cost base, are cashflow positive, don't need extra funding and are actively expanding operations. Unless oil price goes below USD 40 and/or exchange rates turn against them they will stay cashflow positive.


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## seasprite (9 October 2008)

rub92me said:


> It actually is already lower: 14.5 cents, which gives them a market cap of $35 million. They should be achieving revenue of 22-25 million for the calendar year with cash in the bank around 10 million at end of year. Margins are obviously getting smaller with the lower oil price, but exchange rates have compensated for that to a large degree so far. They have a long term producing asset with a low cost base, are cashflow positive, don't need extra funding and are actively expanding operations. Unless oil price goes below USD 40 and/or exchange rates turn against them they will stay cashflow positive.




You would think SAE would buyback more than 44,145 shares today unless they plan on knocking the sp down more. Management must be doing a fantastic job though.


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## Tiles (31 October 2008)

Interesting quarterly return posted yesterday:

http://www.asx.com.au/asx/statistic...ae&timeFrameSearchType=D&releasedDuringCode=W


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## seasprite (31 October 2008)

yeah , I'm quite impressed with SAE , however I will be far more impressed when they complete their buyback activity.

So far , I have them with a 100% drilling success rate in North San Ardo .
Horizontal wells seem to the better way to drill nowadays .


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## rub92me (31 October 2008)

Unfortunately things won't improve much for SAE shareprice until the major shareholder stops his selling. After pausing his activity for a while, it now looks he's determined to sell out at any price. At the current pace it could still take a couple of months before that's finished. Quarterly very much in line with expectations. I would actually prefer them to suspend their buy back for the next couple of months. Capital preservation is prudent in the current environment imho.


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## seasprite (31 October 2008)

rub92me said:


> Unfortunately things won't improve much for SAE shareprice until the major shareholder stops his selling.




I have a sneaking suspicion it was Oceanic Asset management through HSBC that have reduced their holdings . 
www.oceanicasset.com.au/cfa-reports-quaterly.asp at the beginning of june and oct , they could possibly be close to being fully out now . Have not seen any change of substantial holder notice though .


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## seasprite (1 November 2008)

boardroom radio announcement "Building Cash Reserves" 30 October 08 with Managing Director John Begg www.brr.com.au/event/53339/building-cash-reserves?popup=true


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## seasprite (3 November 2008)

SAE are fully funded and will not need to raise capital for 2009 Fiscal year 
http://www.brr.com.au/event/51973/financial-highlights?popup=true


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## seasprite (5 November 2008)

Today would be an exceptional day to issue the 2P reserve report for Paris Valley that is estimated with over 100mmbbls OIP (as stated in the quarterly) , with all factors in favour of a rally in oil stocks .


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## Rastan (6 November 2008)

Interesting movement today, market down, oil down - yet SAE sp remains on the up. I bought in pre-crash at around .30, and then again at .20 before having to let it all go. Is it just a case of all the people that had to sell before already have, therfore no one wants to sell now - or is there something in the midst i wonder...


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## rub92me (6 November 2008)

Rastan said:


> Interesting movement today, market down, oil down - yet SAE sp remains on the up. I bought in pre-crash at around .30, and then again at .20 before having to let it all go. Is it just a case of all the people that had to sell before already have, therfore no one wants to sell now - or is there something in the midst i wonder...



Yes, I'm scratching my head as well. The big seller that has been around for months seems determined to sell at the worst possible price. Like yesterday  dumped 200,000 at the opening and then seems to disappear for the day and then dumps again in the evening below the average price for the day . In the last couple of days it looks like accumulation to me by a different large player. Let's see how deep his/her pockets are and hopefully will take out the big seller more quickly.


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## seasprite (6 November 2008)

For those that missed this , it is still relevant today
http://www.brr.com.au/event/47347/sae-ceo-profile-mr-john-begg-md-salinas-energy?popup=true


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## seasprite (7 November 2008)

Does anyone have any information on this new top 20 shareholder         
Arredo Pty Ltd 11.6m shares


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## rub92me (7 November 2008)

My broker data is showing that Arredo have been a major holder of 11.6 million shares for over one year (since 17/10/2007) with no changes in the past year. They're an investment holding company with a portfolio focused on junior oil and resource companies.


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## seasprite (7 November 2008)

rub92me said:


> My broker data is showing that Arredo have been a major holder of 11.6 million shares for over one year (since 17/10/2007) with no changes in the past year. They're an investment holding company with a portfolio focused on junior oil and resource companies.




apologies ,                                                                                             I had last update as 17/10/2008 instead of 17/10/2007 , thanks


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## seasprite (9 November 2008)

rub92me said:


> My broker data is showing ..........




Does your broker data show forecast earnings per share for 2009 , as well as trade recommendations , buy,hold etc.


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## rub92me (9 November 2008)

They don't for SAE; wouldn't be very meaningful anyway. Futute earnings are obviously heavily affected by further explorations success, price of oil, etc. And I don't give a hoot about broker recommendations: they'll just tell you who has a vested interest...


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## seasprite (12 November 2008)

NEW PRODUCTION DRILLING AT NORTH SAN ARDO
Salinas Energy is pleased to advise that drilling of the eighth horizontal production well, the Lombardi
14-27H in the Company’s 100% owned North San Ardo oil field (NSA) has commenced.
The horizontal production well follows the successful drilling of a second water disposal well at NSA.
The combination of the new production well and increased water disposal capability should increase
field production levels close to 1,000 bopd by the end of November.
No further drilling will occur in the field prior to the end of the calendar year, but operations are
scheduled to re-commence early in 2009 with up to two additional production wells planned.
Commenting on the latest drilling activity, Salinas Managing Director John Begg said;

_*“The Salinas operations group has been working hard to maximise the value of the NSA asset over the
past few months with the focus on increasing production from our existing wells, reducing operating
costs and completing the production facilities. The single bottleneck in the system, water disposal
capacity, has now been alleviated and this combined with an additional horizontal production well will
see production levels increase”.
*_


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## prawn_86 (12 November 2008)

seasprite,

what is SAEs total production figures at this point in? and what is their MC and debt levels like?

thanks


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## seasprite (12 November 2008)

prawn_86 said:


> seasprite,
> 
> what is SAEs total production figures at this point in? and what is their MC and debt levels like?
> 
> thanks




I posted this before 
boardroom radio announcement "Building Cash Reserves" 30 October 08 with Managing Director John Begg 
http://www.brr.com.au/event/53339/bu...ves?popup=true

MC $41.1m at previous close $0.17
nil debt

There is still a player out there intent on keeping the share price down though.


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## Tiles (21 November 2008)

seasprite said:


> I posted this before
> boardroom radio announcement "Building Cash Reserves" 30 October 08 with Managing Director John Begg
> http://www.brr.com.au/event/53339/bu...ves?popup=true
> 
> ...




Substantial sharehoder notice today by an American investor who has disposed of 5.1 million shares. Mystery solved?


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## rub92me (21 November 2008)

Well, it wasn't a mystery who the big seller was. He probably stopped being a substantial holder more than a month ago though seeing that he's dumped at leasst 100,000 shares a day for the past 2 months and still has more than 8 million shares to get rid off. Still another 3 months of selling to go  Unless price of oil picks up substantially this will put a damper on the shareprice for the next 3 months.


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## seasprite (1 December 2008)

apologies folks , have been on holiday for a couple of weeks and just playing catch up.

Managing Director John Beggs 2008 AGM presentation , boardroom radio.

http://www.brr.com.au/event/54072/managing-directors-presentation?popup=true


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## Tiles (2 December 2008)

seasprite said:


> apologies folks , have been on holiday for a couple of weeks and just playing catch up.
> 
> Managing Director John Beggs 2008 AGM presentation , boardroom radio.
> 
> http://www.brr.com.au/event/54072/managing-directors-presentation?popup=true




Thanks, seasprite. Interesting presentation with the commentary. SAE does seem to have upside potential and having been a shareholder since its REL days, I'm looking forward to 2009 and more good news.


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## seasprite (5 December 2008)

SAE must be due to announce production rates for Lombardi 14-27H . I would have personally preferred that they cased & suspended this well for future production as with what other companies are doing at the moment with these low oil prices. If they decide to restrict flow , I can only see that as good news , no point depleting reserves for pittance.


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## seasprite (22 January 2009)

REVENUE FOR SALINAS ENERGY IN 2008 EXCEEDS US$20 MILLION
Salinas Energy is pleased to report oil production revenue of US$20.1 million for calendar 2008,
translating to a net operating profit for the Company’s California business of US$9.7 million.
Despite the fall in oil prices and month by month revenue since last August the figures represent an
excellent result for the Company from its first full year of oil production from the North San Ardo oil
field (NSA) which totalled 230,000 barrels.
Salinas owns 100% and operates the NSA field and has been carrying out a range of initiatives to
reduce operating and capital costs to ensure the field remains profitable at the relatively low oil prices
being experienced. This has meant deferring the drilling of additional production wells until a more
stable economic environment is established.

Commenting on the result, Salinas’ Managing Director John Begg said:
“Meeting the US$20 million revenue target that we forecast early in 2008 has been an important
achievement for the Company. We have reset our goals so that 2009 will also be a year of high
achievement for the Company, despite challenging economic conditions.”


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## rub92me (23 January 2009)

Still about another 4-5 weeks before the American seller is finished. I'm taking some nibbles now; hopefully not much downside left.


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## seasprite (27 January 2009)

Salinas Energy Final share buy back refer http://www.asx.com.au/asxpdf/20090127/pdf/31fqdm0s9p1kjw.pdf


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## seasprite (30 January 2009)

For Salinas Energy quarterly report refer http://www.asx.com.au/asxpdf/20090130/pdf/31ft3msxfnbnm9.pdf


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## seasprite (9 February 2009)

rub92me said:


> Still about another 4-5 weeks before the American seller is finished. I'm taking some nibbles now; hopefully not much downside left.




I agree , bought more last week . If Mark Nahabedian isn't fully out , he must not be too far away just watching activity over the last few weeks.

Mark Nahabedian bought 18,428,736 on 19/12/07 announced 21/12/07
                sold down to 13,878,736 on 09/09/08 announced 11/09/08
                sold down to   5,155,355 on 20/11/08 announced 21/11/08 and ceasing to be a substantial holder . I see he has his own exploration company and has obviously over committed at the wrong time and SAE has suffered due to this. SAE in theory should recover quite quickly when POO recovers.


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## craig_oneill (24 February 2009)

Hey does anyone know if Fat Prophets are still recommending Salinas???  They were plugging it like crazy a few months ago when it was a lot higher than it is now. Does it mean it maybe is a better buy now?? and what upside potential does the North San Ardo field maybe have??


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## seasprite (24 February 2009)

craig_oneill said:


> Hey does anyone know if Fat Prophets are still recommending Salinas???  They were plugging it like crazy a few months ago when it was a lot higher than it is now. Does it mean it maybe is a better buy now?? and what upside potential does the North San Ardo field maybe have??




Don't know about Fat Prophet , I'd rather do my own research anyway . SAE have decided to carry out appraisal drilling at Paris Valley next rather than more production drilling in NSA due to lower oil prices .


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## seasprite (27 February 2009)

SAE's half yearly report refer to ....... http://www.asx.com.au/asxpdf/20090227/pdf/31gbp8l3yvxqz6.pdf


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## seasprite (24 March 2009)

volumes have increased and price has started trending upwards , Paris Valley was due to be drilled this month , unsure what the delay is. Planning and approval was underway on 29 Jan 09 see http://000sweb.co.monterey.ca.us/planning/cca/za/2009/01-29-09/PLN080414ZA1.pdf.

discl - I now own a s**t load of these .


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## craig_oneill (26 March 2009)

Hey seasprite how do you feel about Paris Valley??? I feel bullish about the prospects and the higher oil price for the sp


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## seasprite (30 March 2009)

craig_oneill said:


> Hey seasprite how do you feel about Paris Valley??? I feel bullish about the prospects and the higher oil price for the sp




just noticed your post craig . I have been topping up on these when I can. SAE have had 100% strike rate and I don't expect that to change. Paris Valley has in the region of mapped 132mmbbls OIP for the northern and central compartment and I read somewhere Madrid could contain 50mmbbls OIP. 

Talk was also on securing a partner for Osso Bucco (WTI light), so at these prices it makes sense to me to increase holdings .


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## seasprite (1 April 2009)

1 million unlisted options expired 31 March 09 see http://www.asx.com.au/asxpdf/20090401/pdf/31gw5539yks3jf.pdf


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## craig_oneill (1 April 2009)

What actually happens when options expire?? the way i understand it was that they could have been excercised for shares at $1 but because the share price is lower than that they just disappear??


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## eddyeagle (29 May 2009)

SAE has been very dissapointing of late. Given that oil has more than doubled from 30 bucks to 65 bucks, you would have thought that this would have at least resulted in a small rise in the SP of Salinas.


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## Motogoon (3 June 2009)

Yeah they seem to have been forgotten for now, i've got a small amount that i've been waiting for something to happen with!

I'm happy to hold on though cos i'm sure it will do well once its on peoples radar again.


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## Miner (4 June 2009)

eddyeagle said:


> SAE has been very dissapointing of late. Given that oil has more than doubled from 30 bucks to 65 bucks, you would have thought that this would have at least resulted in a small rise in the SP of Salinas.




Hi Eddyeagle

Are you still disappointed with SAE ?

I put a buy order but should have put slight up as the market shot up and I was in the bush to change order


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## seasprite (4 June 2009)

Some one wants these badly , the SP broke through the 90 day the other day and is smokin on up. prior to Nahabedian's demise of the share price this was sitting nicely in the mid 20's.


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## eddyeagle (4 June 2009)

Good to see a bit of interest in this one finally!

They got an ASX speeding ticket for the 23% jump the other day!

I am still a long way down but hopefully things will move up from here!


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## seasprite (13 July 2009)

Latest news out of SAE http://www.asx.com.au/asxpdf/20090713/pdf/31jjh3vfhczxct.pdf regarding San Joaquin Asset Swap and Sale Completed


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## craig_oneill (24 August 2009)

Why the trading holt??? Does anyone know if there is anything to report about the company??? I cant seem to find an explanation for it anywhere.


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## seasprite (25 August 2009)

craig_oneill said:


> Why the trading holt??? Does anyone know if there is anything to report about the company??? I cant seem to find an explanation for it anywhere.




refer page 2 of this announcement craig http://www.asx.com.au/asxpdf/20090824/pdf/31k84gzf024twt.pdf (corporate transaction).


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## Miner (26 August 2009)

Hmm
Trading halt lifted today.
SAE shot about 23% due to new acquisiton story.
No noise in this thread ?


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## Motogoon (27 August 2009)

Not much to say i guess, seems like theres not a lot of interest in sae recently.

It is good to see a rise in the price to take me into positive again although i only have a small amount of these so i'll wait till they're back up to 60cents or so before i sell! And i do believe that will happen - eventually!


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## seasprite (28 August 2009)

Miner said:


> Hmm
> Trading halt lifted today.
> SAE shot about 23% due to new acquisiton story.
> No noise in this thread ?




For boardroom radio announcement refer to http://www.brr.com.au/event/59790 regarding neon energy and vietnam acquisition.


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## Miner (28 August 2009)

seasprite said:


> For boardroom radio announcement refer to http://www.brr.com.au/event/59790 regarding neon energy and vietnam acquisition.




Guess what one director bought  500000 shares at 12 cents. 

He could have bought at 9 cents few weeks. So something just happening exciting. 

I am holding and will hold to see what folds out in four weeks time. 

Normally these directors get one month early signal  and also not to be caught by ASIC flogging


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## seasprite (4 September 2009)

SAE acquire Neon Energy.
Neon Energy's Block 120 has potential of 1.3 billion barrels at 3 prospects alone and in excess of 2 billion at 16 prospects.
A director buys 500K of shares 

and a 3c speeding infringement is dished out , how bizarre , do these idiots at ASX not read announcements .


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## Miner (6 September 2009)

seasprite said:


> SAE acquire Neon Energy.
> Neon Energy's Block 120 has potential of 1.3 billion barrels at 3 prospects alone and in excess of 2 billion at 16 prospects.
> A director buys 500K of shares
> 
> and a 3c speeding infringement is dished out , how bizarre , do these idiots at ASX not read announcements .




I think there are some intricate legal loop holes in this deal calling as if SAE acquired Neon. If you really see closely then it appears actually Neon took over SAE but on the paper showing otherwise. The new board structure,  and strong position of Neon shares suggest  me so.


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## craig_oneill (8 September 2009)

I think the 'takeover' of Neon is a big plus for Salinas give many new and exciting opportunities in Asia, however there seem to be reserves in place but are they commercially viable and what does the future hold for Salinas???And yes i didnt understand the takeover it seemed as though we got almost taken over?


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## craig_oneill (24 October 2009)

Does anyone know anything about Salinas the share price has been moving up a bit lately however this seems to be just on the back of stronger oil prices. Is there any other information or events that we should be looking forward to??


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## craig_oneill (26 November 2009)

This capital raising by the company has really made me quite angry.  The company issues new shares to 'supposedly sophisticated investors' at 13.5 cents locking in a handsome profit at todays close of 16 cents.  I may not be one of these sophisticated investors however even i understand at 13.5 cents they are great value! There is often not much thought for the long term investors of these companies, i have held these shares for some time now and they go and make a placement to an institution. So what do i get in return?? i understand this money will hopefully be put to good use however the new shares help to dilute my current holding in the company.  I would just like to see shareholders that have invested and put faith in the company to also be included when new shares are being issued. For a company that i have invested into and followed closely, i would like to be recognised and have the chance to participate in share issues rather than have institutions make a quick buck at my expense.


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## Miner (27 November 2009)

craig_oneill said:


> This capital raising by the company has really made me quite angry.  The company issues new shares to 'supposedly sophisticated investors' at 13.5 cents locking in a handsome profit at todays close of 16 cents.  I may not be one of these sophisticated investors however even i understand at 13.5 cents they are great value! There is often not much thought for the long term investors of these companies, i have held these shares for some time now and they go and make a placement to an institution. So what do i get in return?? i understand this money will hopefully be put to good use however the new shares help to dilute my current holding in the company.  I would just like to see shareholders that have invested and put faith in the company to also be included when new shares are being issued. For a company that i have invested into and followed closely, i would like to be recognised and have the chance to participate in share issues rather than have institutions make a quick buck at my expense.




Craig

I do agree with you. Unfortunately  now a days the directors are getting habituated with this practice and getting away. There are few only who are better here: PRU, SDL, BOW etc who have issued rights to their existing share holders as well.

They are cheating the share holders for their trust.
Instead of offering the share holders at discounted rate they are giving it to their preferred brokers. The brokers get commission and I am not going to be surprised if the directors get referral commission from those brokers as well. 

ASIC is just lame duck to stop such practices


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## craig_oneill (15 December 2009)

I have not been paying much attention to Salianas atm, is there any potential news on the horizon that may inspire an uplift in the share price??


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## Joe Blow (10 January 2010)

Salinas Energy (SAE) is know known as Neon Energy (NEN).

Discussion of this company continues in the NEN thread, which can be found here: https://www.aussiestockforums.com/forums/showthread.php?t=18445

This thread has now been closed.


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