PRM - Prominence Energy

[Trader Paul]

Hi folks,

SUR ... here's some astroanalysis, over the next few months:

02012008 ..... minor and negative

10012008 ..... minor and negative

15-16012008 ..... significant and positive aspect

22012008 ..... major and negative news here ???

04-05022008 ..... more negative news ???

08-11022008 ..... minor and negative ... finances???

04032008 ..... major and negative - finaces???

06-10032008 ..... 2 cycles - negative news ???

1703-02042008 ..... 4 time cycles come together here,
with more negative news expected, around 28-31032008.

First signs of recovery for SUR should come, in April 2008:

08-09042008 ..... positive spotlight on SUR ...

11-14042008 ..... positive news expected

18-22042008 ..... 2 positive cycles ... finances???

24-28042008 ..... negative news expected.

09-12052008 ..... negative spotlight on SUR

happy days

paul



=====

 

[wildmanchris]

News release out this morning - looks like they have been awarded the field with CVN - good news for SUR!!!!

 

[Riles]

Absoutely! I was starting to wonder what was going on with the award of the concession. It seems others were just starting to bail out recently out of despair- the price hitting .98 today.

This is great news for now for SUR and CVNand it will be interesting to see how exploration in this new field plays out.

Hopefully they can get the old well up & running which will help fund further drilling.

Good luck to all holders

 

[Riles]

SUR has 173m shares including latest placement to cover bond for this block.
At current .115c equals market cap of $20m

CVN has 680m shares fully diluted.
At current .75c equals market cap of $510m

If this new JV can emulate the success that CVN has had with POE to date - say 8000-10,000 bopd - (4-5000 bopd each), then we could effectively see CVN's SP add another 75c.

If SUR's market cap was to match CVN's at present, SUR's share price would be $2.94.

 

[Riles]

That last post was wrong about the no. of shares for SUR.
They now have 225m listed shares, not 173m as I stated.

So 225m at current .12c equals $27m market cap.
Still around 18 times less than CVN.

If it is ever able to attain the same maket value that CVN is now ($510m) without further dilution the SP would be $2.26.

Wishful thinking but not beyond the realms of possibility.
Wake me up in a couple of years...

 

[INORE]

Hartleys recomend SUR as a spec buy as seen in the West Australian 6/3/08

better late than never...

 

[INORE]

I like the conclusion of this report

Conclusions
Sun’s asset portfolio has an attractive level of diversification with: mature producing assets in the USA;
development options for its producing assets, which could double revenues in the next financial year;
exploration opportunities in the USA that have the potential to double or triple the share price in the shortmedium
term; company making potential in the recently awarded onshore Thailand block, with drilling possible
late this year; and a sleeping elephant in Malta that also has company making potential. Sun is looking to
emulate the success of Carnarvon, who delivered up to a 7X return on investment during 2007, whilst at the
same time has limited downside risk exposure through increasing levels of production in the US. These factors
make Sun an attractive investment in this end of the market and we rate Sun Resources Limited a Speculative
Buy. Valued at 17-23cps.

 

[INORE]

Well I'm glad I made the switch from iron to oil last year as it's great to see recommended buys like this one in todays West Australian...

SUN RESOURCES

Hartleys recomends a speculative
purchase of Sun Resource(SUR),estimating shares in the company are worth up to 23c a share.
"Suns core assets at Flour Bluff,
Margarita and Lake Long are valued
at about 13c per share at current gas
prices," Hartleys said. "This is a significant
premium to the current share
price. The company also has significant upside in the USA that my be realised this year, as well as company
making potential in Thailand".
Hartleys said Suns L20/50 block in
Thailand is an opportunity similar
to oil explorer Carnarvon's success
that resulted in Carnarvon's share
price rising fron 7c to a peak of 70c
within a year. Sun lifted lC to 9c.

 

[hangseng]

Well I'm glad I made the switch from iron to oil last year as it's great to see recommended buys like this one in todays West Australian...

SUN RESOURCES

Hartleys recomends a speculative
purchase of Sun Resource(SUR),estimating shares in the company are worth up to 23c a share.
"Suns core assets at Flour Bluff,
Margarita and Lake Long are valued
at about 13c per share at current gas
prices," Hartleys said. "This is a significant
premium to the current share
price. The company also has significant upside in the USA that my be realised this year, as well as company
making potential in Thailand".
Hartleys said Suns L20/50 block in
Thailand is an opportunity similar
to oil explorer Carnarvon's success
that resulted in Carnarvon's share
price rising fron 7c to a peak of 70c
within a year. Sun lifted lC to 9c.

Yes SUR has caught my eye. SUR has every chance to be the same sp as CVN according to all reports as indicated above. Simply a must have for me at these prices, SUR looks quite positive.

 

[hangseng]

Yes SUR has caught my eye. SUR has every chance to be the same sp as CVN according to all reports as indicated above. Simply a must have for me at these prices, SUR looks quite positive.

Investor presentation just out with roadshow about to commence. I can't believe my timing

SUR has fantastic prospects and still a very low market cap. Now for more reading.

 

[INORE]

NICE gain today with no late sell of's...unfortunately I sold a third of my stock in this last week to get some more CVN but still very happy with the strength in todays trading....a consistent high volume would be nice over the next week or so to cement it above that old 10c pain barrier.

 

[Riles]

Yep it looks like the latest Hartleys report and newspaper article may have created a flurry of interest.
All out in time for the roadshow presentation - which has Hartleys contact details at the bottom...

I've just read the preso - nothing to get excited about for a while yet, biz as usual in US this year with a 3d seismic and a few wells to come this year.

A lot of comparison to CVN - they even show the CVN price chart.
Fair enough, I bought into SUR solely for the L20/50 Thailand block JV with CVN.
I see big upside potential for this one when they start drilling - but that won't be till after they've shot the 3d seismic March next year. (apart from the one re-drill slated for later this year).

In the meantime I see upside mainly from the fact they are trading at a discount to Hartley's current valuation(17-23cps), and also from any further successes that CVN may encounter - which people will see as being promising for SUR.

By the time they are ready to drill L20/50, CVN will have a wealth of experience to bring to the drilling campaign - knowing how to interpret the seismics and understanding the volcanics.All leading to more probability for success.

 

[derbon99]

I have monitored this company for a few months now. The potential is huge but I think it need time. My first idea was to wait till Q3 to invest. Unfortunately with the sharp last days gain I was forced to buy to avoid loosing the amazing leverage effect.

See you at the end of 2009

 

[INORE]

the managing director of sun has a talk on boardroom radio today...


http://www.brr.com.au/event/45666

 

[hangseng]

the managing director of sun has a talk on boardroom radio today...


http://www.brr.com.au/event/45666

And what timing, not surprising Hartleys placed SUR as a buy recommendation see below .

Announcement out.
This is excellent news and raising the capital in the manner they have with secured notes at 55c or conversion into 5 shares at 11c with minimal shares dilution (at 11c conversion is only 36.6m shares). This is positive news for holders and it progresses the Thailand holdings. SUR is about to embark on an excellent ride along with CVN.

RE: SUN RESOURCES NL SECURES FUNDING FOR THAILAND PROGRAM
http://www.sunres.com.au/pdf/CVN raising 60608.pdf

In part:
"The Board of Sun Resources NL (“Sun Resources”) is pleased to advise that the Company has raised approximately $4 million by way of a placement of Convertible Notes (“Notes”). The funds raised will be predominately applied towards Sun Resources’ 50% interest in Block L20/50, onshore Phitsanulok Basin, Thailand, where the Company is in Joint Venture with Carnarvon Petroleum Limited (“Carnarvon”). Hartleys Limited (“Hartleys”), the Company’s corporate adviser, is Broker to the Offer."

"The Notes will be issued at a face value of $0.55, giving each note holder the right to convert each Note into 5 fully paid shares (equivalent to 11 cents per share conversion price, a 22% premium to a 30 day VWAP of Sun Resources)"

 

[INORE]

Hartleys
Sun Resources Limited Speculative Buy
Thai Sunrise Could be a Beauty

Date 20 June 2008
ASX Code SUR
Share Price 8.8cps
Valuation 17-23cps
Market Cap (fully diluted) $19.8m ($22.1m)
Issued Capital (fully diluted) 225.1m shares (251.4m)
Cash (est. 20 June 2008) $5m

Sun Resources Limited (“Sun”, “SUR”, “Company”) plans to drill a low risk
entry well on its 50% owned L20/50 block, located in onshore Thailand, in
late 2008 / early 2009. This represents the first step in a plan to emulate the
success of its joint venture partner, Carnarvon Petroleum Ltd, which has
delivered a ten fold return on investment over the past 18 months via
success in onshore Thailand. Even moderate success at the planned well
would be significant, as it would fund the ongoing exploration program over
Sun’s large acreage position. The upside potential of the block has
company making implications for Sun.
SUR has a mature, producing portfolio of conventional assets in the USA
and a sleeper project in Malta with vast potential. Production from the US
assets has recently increased to over 1mmcfe/d net to Sun, which equates
to around US$2m net revenue p.a. Sun has also recently announced an
issue of convertible notes, raising $4m, which will be used to fund its
activities in Thailand and the US. With high impact exploration assets in
Thailand, Australia and Malta, and downside risk limited by producing
assets in the US, we rate Sun Resources Limited as a Speculative Buy.


for the rest of this go here..

http://www.sunres.com.au/pdf/SUR External 20080620.pdf

 

[INORE]

I needed to consolidate in my head what all the SUR projects are so i thought i would post what i could get from the latest Hartleys report.

PRODUCTION/EXPLORATION

'Fluor Bluff'
producing 3.1mmcf/d & 50bopd
- seismic H2 2008
- drilling H2 2009


'Lake Long'
producing 3mmcf/d & 55boc/d


'Margarita'
producing 1.1mmcf/d from Agavero and Donna Carlota & 50-60bopd from Milagro
-2 wells planned near term (first spud July 08)
-7 deep wells planned for farmout (Q3 2008)
-1 deep well planned for Q1 2009


'Redback'
-seismic completed Dec07
-drilling Q4 2008 (pending farmout)


'Meck'
-drilling July 08


'Thailand'
-L20/50 planned drill in dec/jan
-3d survey should have commenced????



So that's two spuds at Margarita and one at Meck....this month...Come on SUR, give us a bit more feedback on what your JV partners are doing leading up to the spud.

Did i miss anything?

 

[INORE]

Well its allmost show time for SUR in Thailand with CVN...they have started planning the seismic and are now waiting on some government paperwork and it will be full steam ahead. Good luck to all those who have held over the past 12 months.

 

[Couchtrader]

hi there i'm new to this site I'm seeing potential with SUN especially considering 1/ jv with cvn in adjacent tenament in thailand 2/ and if successful, immediate cash flow potential Welcome any feedback CT

 

[StockPiles]

hi there i'm new to this site I'm seeing potential with SUN especially considering 1/ jv with cvn in adjacent tenament in thailand 2/ and if successful, immediate cash flow potential Welcome any feedback CT

SUR is one of my favourate stock picks !'

1) it's current price to book ratio is 1:1 meaning its current tangible book value matches its current share price - excellent news for all buyers as this company's book value will go through the roof when they get that oil out of Thailand with CVN.

2) Relatively small market cap - has a lot of room to grow - A recent broker report values this stock at 22cents right now and if all risks are ignored i.e they start producing the oil out of Thailand they expect (At conservative levels) the share price is worth 300 cents per share or $3.00 a share !!!

HELLO !! -- The trade volumes on this stock are small however and they are officially rated as a speculative buy. My opinion is that as people become more aware of this stock, it wont take long for the price to go up with the volume ..

Recently rasied capital for the seizmics and they have positive cash flow from their existing U.S based assets .. they were hit with lower profits during the credit crises due to the drop in oil prices but the future for this company does look bright based on all above..

Good luck !