Australian (ASX) Stock Market Forum

BCC - Buccaneer Energy

Jump to new
Folks
Whatever the previous three posts said, probably reflected on the prices today.:banghead:

May be just begining of factoring the risk into today's price and short time traders will act tomorrow.

I was only curious to see they tried to make a tangent reference on eagleford and wondered why :confused:
 
miner

the posts here would have little impact on the sp. the report from bcc is solely the reason for the reaction.

imho bcc are being cautious, doing a small lateral into the chalks and exploring the play.. the majority of punters on hc and possibly here seem to think that by drilling a vertical exploration well into a play will bring you the millions..

the reality is, the vertical has given up hydrocarbons, given them enough interest to look a little more, and to keep on the backburner the eagleford aspect also..

i have not researched the eagleford in that region so i cant comment, but its obvious that its a consideration.

imho the upside for this play for bcc is still there, but the risk ratio is equally still as high as ever atm given that so little is known about the rock there and what the ability of the various formations are in terms of production with todays technology .. its about exploration economics ....

all imho and dyor..
 
Agentm said:
miner

the posts here would have little impact on the sp. the report from bcc is solely the reason for the reaction.

xxxxx

imho the upside for this play for bcc is still there, but the risk ratio is equally still as high as ever atm given that so little is known about the rock there and what the ability of the various formations are in terms of production with todays technology .. its about exploration economics ....

all imho and dyor..
Click to expand...

Thanks Agentm

I did not mean to say the three posts were contributors for the price increase in BCC. My Good ness if that would be the case then ASF posting can create upside down:D

What I tried to say was , the market reflection was already conveyed by those three posts and I basically was complimenting the quality of those three postings.

Thanks again
 
:)

Hi folks,

BCC ... as requested, here's an update of our astroanalysis for the
next few months, with mid-March 2010 looking interesting for news:

25-26022010 ... minor news cycle

02032010 ... positive cycle ... finances ???

12-15032010 ... 2 significant and positive
time cycles ... news expected

26-29032010 ... 2 minor time cycles

14042010 ... minor cycle

19-20042010 ... minor and positive cycle

28-30042010 ... significant and positive
cycle may trigger a big move.


13-14052010 ... minor and positive light
on BCC, but tempered by
negative cycle, soon after.

24-26052010 ... negative aspect here

04-08062010 ... 2 minor cycles to bring
some positive news ... ???

14-15062010 ... negative light on BCC

22-23062010 ... negative news expected here.

More later .... :)

have a great weekend all

paul

:)

=====
 
Price slip sliding away...... Emotional holders get slaughtered. Never fall in love with a stock. It's toxic to your bank balance.
I called it a strong sell at 10c and got flamed because of that. Seems like it's playing out as I thought.
 
What a ridiculous announcement today by BCC. Hedging is common practice in the majority of oil/gas producers. Next they will be announcing the change of colour on the company's letterhead or that they saved 15% on a new drill bit.
 
Curtis should be working for QBE. He's the new "Mr Insurance". His conservative ways are putting a real big handbrake on the share price.
Get Lee County up and running and don't worry about Springtree or hedging the gas production at Pompano. Back yourself Curtis. Don't keep hedging your bets.
 
banska bystrica said:
Curtis should be working for QBE. He's the new "Mr Insurance". His conservative ways are putting a real big handbrake on the share price.
Get Lee County up and running and don't worry about Springtree or hedging the gas production at Pompano. Back yourself Curtis. Don't keep hedging your bets.
Click to expand...

Agree with this. And with their new Alaskan project it seems they are spreading themselves thin, despite the new managers coming on board (read: more costs).

Focus on drilling and getting cash-flow rather than expansion, i would have thought they have enough prospective projects at this stage.

Just hope he/they have a long term plan
 
They also have two very bright prospects in Ruby and Jaguar along with supposedly 12 wells in Lee County. They have enough on their plate for probably 5 years with those projects alone yet they want to go drilling wildcats in Alaska (both onshore and OFFSHORE). No wonder the share price is weakening by the day. Even some long term diehard supporters must be getting nervous. The game changes monthly it seems on the pirate ship Buccaneer.
 
prawn_86 said:
Just hope he/they have a long term plan
Click to expand...

My fear for shareholders is that the long term plan is to ensure they have enough cash (aka Springtree) to survive but there will under-performance (because of dilution and rising costs). In other words, minimal upside for shareholders but continuing salaries for executives.
 
Agree BB. I originally bought in near when they first listed as thought the management team had the goods to deliver, but now im wondering if they have made enough dollars previously and are just doing this to keep themselves in a wage and stop the boredom of retirement
 
Let's head North to Alaska!

All of a sudden the focus is on Alaska and still no news on Lee County. Wasn't Lee County the supposed company maker? Oh that's right, they have just worked out there is no money in gas so let's quietly forget about Lee County and head North to Alaska. What a rabble!
That incentive is a TAX CREDIT so is only useful if they are successful in finding commercial oil and it can be offset against income. They still have to come up with circa $15M to drill ONE well. Oh that's right. Springtree will provide the money in exchange for shares which they dump on market every month for 12 months. Watch Springtree dump this if it gets over 7c.
 
Buccaneer Energy Excellence in Oil Presentation video

For those who have heard about the presentation but haven't seen it.

http://www.brr.com.au/event/65371/b...ference-curtis-burton-managing-director?log=1

In the presentation Curtis speaks to the offshore Gulf of Mexico portfolio "We are not abonding this" He explains that Ruby may be next because it has oil. Curtis explains his Lee County push, lower cost wells with an oil focus. He does not explain the delays but says the Vic one is being put on production and the site has been prepared for Vic two. Rig is expected by end of April, in Buccaneer time that could be end of May. Ships move slower on land.

He then goes into an explanation of the acquisition of Steller and that they intend to be drilling this year on the on-shore stuff in the Kenai Pennensula.


Worth watching before BRR takes it down.
 
Buccaner Energy... Lee county drilling to commence!

Lee county drilling to commence!
The drilling contractor has not performed! The drilling contractor is the reason for the delays! Oil in the ground and soon to be...in the bank!

Read the attached document!
 

Attachments

  • 890d087c-bc73-4277-ac2c-d12a8bac7533-BCC590558.pdf
    128 KB · Views: 20
Buccaneer Energy, Curtis Burton, is on World Energy TV

Buccaneer Energy, BCC:AU reveals secrets to World Energy TV

--------------------------------------------------------------------------------

Curtis Burton recently appeared on World Energy Television in a kind of "tell all" interview. He details the inner workings of Buccaneer, their recent acquisition in Alaska, and tells us what the future may hold. In the interview he provides a snapshot into just how big Buccaneer is going to be in the very near term. The videos are short but worth watching.

http://www.youtube.com/watch?v=0IWlXHm1cmA
http://www.youtube.com/watch?v=DvBatcrQwAg
http://www.youtube.com/watch?v=nJaMMi0Mj7Q

"149 million barrels of oil and 1.2 TCF of gas, that’s a company making opportunity, but Alaska? You don't know the whole about Alaska, a number of things have recently changed about Alaska.

"You get a commodity floor of $7 to $9 dollars for Gas. Here you have an on-going danger of commodity price collapse, in Alaska not so."

"If you look at the portfolio we started out with it has over 300b's of upside associated with it, that’s hardly conservative. When you look at we are focused on in Alaska 1.2 TCF of gas and 149 million barrels of oil as an opportunity, is hardly conservative. What is conservative about that is that we have replicated what we have done in the lower 48. We've gone after something that has manageable risk, we've captured a commodity price situation that is in our favor, we are going to areas that have had prior production that's in our favor, we are going to areas that have seismic or other event that lowers the risk and that is in our favor. While we are being conservative we are being 'aggressively conservative'." Curtis Burton, CEO of Buccaneer in a recent interview.

"We have some world class opportunities surrounding Pompano, if gas was at $10, $12, $8 we would be making active plans to drill. But right now is not the time to be drilling those kinds of opportunities. So what we have been busy doing for the last six months is scouring the planet for what is a good opportunistic fit that has a dominance of oil associated with it or some set of circumstances with it that make it work even in a poor gas market. That's Alaska."

Here we have an independent that can be very flexible. If the natural gas market opens up in the lower 48 they have great prospects in the shallow water gulf. At a time when oil is $80 they have a 30 well drilling program in Lee County Texas. As the majors pull back in Alaska, they are all ready there buying inexpensive big impact plays.

It doesn't get much better than that.
 
Are these numbers right!!!???
149 million barrels * $80 per barrel = $11.92B!
Plus
1.2 TCF * 1000Btu/cf = 1200T Btu
1200T = 1200M * 1M
1200T Btu = 1200M MMBtu
1200M MMBtu * $4/MMBtu = $4.8B

Reserves waiting to be tapped: $US16.72 billion!

And Curtis is conservative???
 

Similar threads

Dona Ferentes
BWN - Bhagwan Marine
Replies
4
Views
2K
Dona Ferentes
Dona Ferentes
ducati916
August 2024 DDD
2 3 4
Replies
75
Views
18K
ducati916
ducati916
ducati916
April 2024 DDD
3 4 5
Replies
98
Views
8K
ducati916
ducati916
ducati916
March 2024 DDD
2 3
Replies
47
Views
5K
ducati916
ducati916
Dona Ferentes
Guyana
Replies
3
Views
956
Dona Ferentes
Dona Ferentes
Top