SAE - Salinas Energy

[rub92me]

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.

 

[seasprite]

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 .

 

[seasprite]

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

 

[seasprite]

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

 

[seasprite]

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 .

 

[Rastan]

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...

 

[rub92me]

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.

 

[seasprite]

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

 

[seasprite]

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

 

[rub92me]

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.

 

[seasprite]

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

 

[seasprite]

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

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

 

[rub92me]

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...

 

[seasprite]

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”.

 

[prawn_86]

seasprite,

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

thanks

 

[seasprite]

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.

 

[Tiles]

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.

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

 

[rub92me]

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.

 

[seasprite]

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

 

[Tiles]

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.