PRM - Prominence Energy

[doogie_goes_off]

Best potential for growth since the rise and rise of CVN. Looks like a winner and Maltese Reef prospect is incredible. Should be an awsome long term winner, cant wait to be offered some more.

 

[StockPiles]

Best potential for growth since the rise and rise of CVN. Looks like a winner and Maltese Reef prospect is incredible. Should be an awsome long term winner, cant wait to be offered some more.

Offered some more ? You mean through a future retail SPP offer ?

SUR will probably need more capital to fully meet their 50/50 obligations, I sent an email to CVN to suggest they buy out SUR The C.O.O replied personally to me and didn't give anything away but didn't rule it out either


CVN are cashed up and could swallow SUR easy enough I would think ?

 

[doogie_goes_off]

Looking to get them through a capital raising for drilling. CVN a bit light on for cash and shareholders expecting a dividend soon so I'd sy a major like STO would be more likely. Cash is king at the moment.

 

[JTLP]

Offered some more ? You mean through a future retail SPP offer ?

SUR will probably need more capital to fully meet their 50/50 obligations, I sent an email to CVN to suggest they buy out SUR The C.O.O replied personally to me and didn't give anything away but didn't rule it out either


CVN are cashed up and could swallow SUR easy enough I would think ?

I don't think CVN will take SUR on. I know they are looking for expansions and acquisition opportunities in S.E Asia + Aus but there game has been to JV and minimise costs/risks associated with fields. Ted even states that he prefers being in JV's as an interest and not operator etc. Would you mind sharing what the C.O.O said (of course blank out your name etc!)

Looking to get them through a capital raising for drilling. CVN a bit light on for cash and shareholders expecting a dividend soon so I'd sy a major like STO would be more likely. Cash is king at the moment.

Dividend? That would be lovely. Doubt it though...the cash will be used for expansions etc...plus as revenue increases actually profit begins to decrease...that damn Thai tax!

Also CVN is not light on for cash at all...$77m in the bank (as per last ann...I believe some will be paid to tax though).

 

[sw3]

It's off and racing... currently at 10 cps... I wonder if it will hold up and ride this wave or if it will fall back down. I was hoping to grab some this morning at 7.7 cps but to no avail. Would have been a tidy little profit for the day...

 

[doogie_goes_off]

SO YTC if CVN are going to use all their cash for expansion then why would they spend more than half their after tax profit on SUR aquisition only to see a biddong war start?

They will be under pressure to provide a dividend in the next year because of their rise into the ASX higher echelons.

SUR will be free to run on it's own for a while yet I think.

 

[JTLP]

SO YTC if CVN are going to use all their cash for expansion then why would they spend more than half their after tax profit on SUR aquisition only to see a biddong war start?

Sorry I don't quite understand this post...can you rephrase it for me please?

(I believe CVN won't make a bid for SUR btw)

 

[HC Victim]

After beinga CVN convert for a while , I was happy that my new broker managed to score me a small parcel from the first offering. Didn't know a hell of a lot about 'em, as I just gave the new guy a look at something to test him out. Seems he is close to top 10 holder himself, and the register is reasonably tight at present. Just happy that they drill with CVN, a management that I respect. I did warn him that if this turned out to be a CVI, I would have his legs broken, and didn't smile when I told him, he still was quite confident in buying for me.Time will tell I guess...

 

[doogie_goes_off]

Sorry JTLP - was a response to stock piles suggestion - I'm with you. I believe CVN won't make a bid for SUR.

 

[growing]

I noticed 6 Million units to buy and 1 Million to sell on this stock today ! (This is on my commsec listing anyway)

I'm happy with that ratio

 

[growing]

SUR is making inroads, considering Oil is going down. I was reading an earlier post on this thread about a broker report placing this stock at $3.00 a share if everything goes to plan!! This 50/50 venture with CVN seems to hold a lot of potential and is described as a "Company Maker" for SUR.

34 buyers for 4,340,530 units 19 sellers for 1,385,940 units (as of close of today's trading)

Always seems to have more buyers and more units to buy than sell.

At $3.00 per share its market cap would be around the 1 Billion $$ mark which is 42.8 x its current value (7 cents) .. A bit unrealistic I think (at least anytime soon) .. if we compare it to say, CVN (Market Cap of 479 Million), i would estimate a share price of around .70 cents, giving SUR a market cap of 240 Million $$ in the shorter term (say within 2 years) but only after they finish drilling and getting this oil out of the ground (lots of risks associated with this at this point in time) .... BUT, then CVN will have equal benefit so its price should go up with SUR so maybe $1.00 is realistic on this basis (Market Cap of around 342 Million $$) .. Will be interesting to see how this stock plays out over the next 2 years..

Anyone else have a comment on this one ?

 

[growing]

Further to my previous post...

Valuation Summary from Hartley's Brokers Dated:14 July 2009

Value risked unrisked

Asset $m cps cps

U.S Producing 14.5 4.0 6.1
Thailand Explore 51.0 13.4 89.2
U.S Explore 2.7 0.7 13.0
Malta Explore 1.1 0.4 112.0
Net Cash* 9.5 2.5 2.5
O'heads 4.0 1.0 1.0

Total 74.8 19.9 221.7


This table describes the risked and unrisked valuation as of the 14th July 2009. Look at that Unrisked total $2.217 Per Share !!!

Holy cow! That would be something

I think a lot will change after the drilling in Q1 2010 !!

 

[JTLP]

Further to my previous post...

Valuation Summary from Hartley's Brokers Dated:14 July 2009

Value risked unrisked

Asset $m cps cps

U.S Producing 14.5 4.0 6.1
Thailand Explore 51.0 13.4 89.2
U.S Explore 2.7 0.7 13.0
Malta Explore 1.1 0.4 112.0
Net Cash* 9.5 2.5 2.5
O'heads 4.0 1.0 1.0

Total 74.8 19.9 221.7


This table describes the risked and unrisked valuation as of the 14th July 2009. Look at that Unrisked total $2.217 Per Share !!!

Holy cow! That would be something

I think a lot will change after the drilling in Q1 2010 !!

Take Hartley's reports with a grain of salt...I think they do the placements for CVN and SUR when they come around...

SUR does have a lot of work to do before getting to the 74.8 price mentioned in that report. A lot depends on this new field with CVN...hopefully a success for all...

 

[growing]

Take Hartley's reports with a grain of salt...I think they do the placements for CVN and SUR when they come around...

SUR does have a lot of work to do before getting to the 74.8 price mentioned in that report. A lot depends on this new field with CVN...hopefully a success for all...

Oh, i see but from what I read in the report, the broker seems to underestimate rather than overestimate ?? - But point taken, if they are paid by SUR and CVN ... thanks again JTLP

 

[growing]

SNAPSHOT TODAY:

7.8 Million Shares traded

Up 15% (Well ahead of the sector average)

9 cents closing price with many more buyers than sellers .. (Yes I'm aware of how this can be manipulated - just posting fact)

It's off and running.

 

[growing]

Big Seismic news released on the joint venture with CVN .. This stock seems to be fairing better than CVN for some reason .. I noticed in CVN's latest Profit reports, their current reserves have delined somewhat, I guess this joint venture may boost cashflow for both CVN and SUR if the expected oil is brought to surface

 

[BESBS Player]

Decided to buy in to SUR as a slightly longer termed BESBS play for the drilling in Thailand in 2010. The company seem to be quoting large potential targets (400 mmbl) and this usually gets the punters excited once a drilling program is in place.
Now the focus is moving off the seismic, I decided to start getting set.

Patience will be needed but I believe that it will be rewarded.

Holding SUR at 8.5c

 

[boronia]

Decided to buy in to SUR as a slightly longer termed BESBS play for the drilling in Thailand in 2010. The company seem to be quoting large potential targets (400 mmbl) and this usually gets the punters excited once a drilling program is in place.
Now the focus is moving off the seismic, I decided to start getting set.

Patience will be needed but I believe that it will be rewarded.

Holding SUR at 8.5c

BESBS Player I agree with this strategy as a trading play but I reckon there is also a reasonable case for this as a high risk investment play given that the the area is down trend from an existing oil field, adjacent to another and has CVN as operated who have become quite experienced in identifying and getting oil out of volcanic fractures

Results from the 2D seismic should be out late 2009 and drilling to start 2010

 

[BESBS Player]

Hi Boronia,

True, SUR's play here looks high risk. That said, I only ever assume odds of 1:10 for wildcats (unless we are talking GoM or the Cooper basin) hence I don't hold through a well. They are all too high risk for me so it is no issue for my strategy. I still think that the punters will join in later on when action is closer. Time will tell.

PS. Been accumulating around 7c.

 

[growing]

Market Cap for this one is only $25Million, I'm sure punters could double this market cap from its current levels safely on the back of some positive news in Thailand