SEA - Sundance Energy Australia
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im a little worried about this stock.. all these valuations etc look great but the price has pulled back. Is this just a consildation period?
Condog, if you dont mind me asking. Are u buying SEA at these levels?
Condog, if you dont mind me asking. Are u buying SEA at these levels?
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I have been buying SEA 70c up to 82 c and back down again now... probably bought a bit high but I dont think this is a stock you are buying to worry about s/t ups an downs.. 6-12 months and this will be booming IMO Eagleford is hot & Niobrara is going to be off the hook ... the JV partners are no joke.. (BUYING SEA TXN EKA)
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Magic Man, I'm sure the Dog would be buying 24/7 if he had the cash. Let's face it, it's a great stock and far under its intrinsic and rating. Im sure you will look back at this topic in 6 months and have a laugh. Do your own research but PS: BUYING would be smart I feel.
Heres a thought, the demand for oil is falling due in large part to the glogal financial crises in the U.S and Europe and everywhere else it has affected. The oil reserves in the U.S are currently not being depleted nearly as fast as thought. The global recovery is going much slower that hoped in the U.S and in the Eurozone/U.K.The U.S is making large cuts to its military machine by billions. The military machine is a big user of fuel all over. The price of oil is going sideways. Im not sure how these people would predict oil would go to 120 pb, what are they basing that forecast on? Im not saying it wont happen but hey for the foreable future what is going to drive oil to those prices? Please Id like to know and if its reasonable assumption then Ill buy into this stock too. Anyway I didnt want to put a gloomy picture on this but thats the news as far as Ive read. Thanks for the news
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I read the SEA reports and got a feeling that the trading halt is probably to provide an update on December production.
Which is probably is too good for them to put a TH break
Condog - hats off to you mate and your research.
It is pity that I do not hold but it is not possible to spread hands on each share I look once they have gone up !!
Which is probably is too good for them to put a TH break
Condog - hats off to you mate and your research.
It is pity that I do not hold but it is not possible to spread hands on each share I look once they have gone up
!!
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What trading halt are u talking about?
SEA in the process of waking up IMO. Share price is in the drifting in and out of "sleep" phase. Give it until February to really kick up, which is when all interested parties will be back at the table IMO. Been in this since sub-10c, and there is still plenty of upside IMO. Worth some research, starting with company announcements, broker reports, etc
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You are forgetting about asain and in particular Chinese demand. This is a massive factor!
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Sundance Energy Development update... everyones thoughts??
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Cheers Condog
Holding the first two, rushing off to research EKA if they have similar profiles
Really thats good how much oil did china import this year and what are their predicted imports for the comming year?
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Raymond, China used to be an exporter of Oil... now since the 90s it's an importer... and due to their massive population and big push for automobiles this figure would be massive... I'll have a look for the coming year.... maybe Condog can help us out here with his proven knowledge and research.
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And im also sure everyone would love Condogs thoughts on SEAs development update posted today??
Im not sure Magic Man but heres a good article from the Wall St Journal
By Alison Tudor
China’s quest for global energy resources is shifting into higher gear as the country’s giant oil companies seal bigger, more complex deals to help fuel their country’s economic boom.
Bankers see China’s national oil producers increasingly buying companies, not just assets, and using their deep pockets to acquire technology to extract harder-to-reach resources. While they’re likely to continue combing emerging markets for energy deals in 2011, they may be tempted to hunt for opportunity elsewhere””including in or near the U.S.
Bloomberg News
Cnooc is among the Chinese state energy companies shopping for assets.Energy consultancy Wood Mackenzie says diesel, gasoline and gasoil demand in China is rising about 8% annually. China’s appetite for oil won’t peak until 2025, according to UBS.
To meet that demand, China’s biggest energy companies have gone on a buying spree. Last year was a record year for China’s oil and gas acquisitions, with $24.3 billion in deals, up from $17.1 billion in 2009, according to data provider Dealogic.
The largest Chinese deal, state-owned China Petrochemical’s acquisition of a 40% stake in Repsol’s Brazilian oil assets for $7.1 billion, signaled China’s expanding profile in Latin America, where it bought more assets than any other nation last year. It also showed the Chinese were willing to pay more than the market expected.
“The richest pickings are appearing in South America and to some extent Africa and Indonesia,” said Stephen Gore, head of M&A and corporate finance Asia at UBS.
China’s oil companies are busy diversifying their sources of hydrocarbons, and bankers say they will continue to have an edge in jurisdictions where U.S. and European oil companies have found it politically difficult to seal deals, such as in Sudan, Myanmar, Iran and Syria.
They also may expand in the Gulf of Mexico. Independent oil companies are likely to sell assets there, say bankers, as insurance costs and regulation escalate after BP’s Macondo blowout in April, which resulted in the biggest offshore oil spill in U.S. history.
“Who is going to buy? I posit the Chinese will acquire significant stakes in the Gulf of Mexico in the next 12 to 24 months,” said Peter O’Malley, head of resources and energy for Asia Pacific at HSBC.
State energy giant Cnooc already has bought small stakes in deep-water projects in the Gulf owned by Norway’s Statoil.
Given that three-quarters of the world’s exploration and production companies are headquartered in North America, the Chinese are likely to bid for U.S. companies, bankers said.
“All the Chinese majors will be in North America in the next two years,” O’Malley said.
Cnooc’s ill-fated 2005 bid for California’s Unocal, which collapsed after some U.S. lawmakers opposed the deal on national security grounds, underscored the political risk that China’s energy sector faces in hunting for U.S. deals. Yet in 2010, Cnooc acquired oil-and-gas assets in the Eagle Ford Shale project in South Texas for $1.1 billion.
One area that Chinese buyers could focus on is projects that use new technology to extract energy from unconventional sources such as oil sands or gas trapped in coal. Such projects are attractive to Chinese buyers because it gives them a chance not only to gather hydrocarbons but also to learn new technology to develop China’s potentially massive gas reserves. Global firms, meanwhile, are eager to bring in minority partners with deep pockets, such as the Chinese, to minimize financial risk.
“In the shale gas industry, there is a large amount of technology transfer from North America to Asia,” said Roger Kennedy, head of energy and natural resources in Asia Pacific for J.P. Morgan Chase.
A less controversial way to acquire hydrocarbons would be to partner with the world’s super majors, such as BP.
International oil companies are rebalancing their portfolios by cutting their exposure to some jurisdictions, as Repsol is doing in Latin America, and adjusting their asset mix to take into consideration long-term trends in commodity prices.
“As many oil and gas companies examine the continued re-balancing of their portfolios, acquisition opportunities will be available for Asian oil and gas companies,” Kennedy said.
The largest Chinese oil firms are being more flexible in choosing targets, bankers say. Instead of shipping products straight to China, they are bidding on assets that give them a hedge against a broad increase in commodity prices over the long term, and chips to trade for other commodities that China needs in the short term.
“The Chinese are increasingly looking at assets that they might be able to exchange for stakes in other projects, like pieces on a chess board,” said Todd Marin, head of investment banking in Asia Pacific for J.P. Morgan.
China’s state-owned Sinochem Group bought a 40% stake in the Peregrino field off the coast of Brazil from Statoil for $3.07 billion in May. It may well be that none of that oil goes back to China after production starts next year, said one banker, but instead is traded for other products.
Chinese firms also are increasingly competing among themselves for the less-political deals, rather than the state picking a champion, making it more likely they will be successful in auctions for assets, bankers said. An early example of this shift came when Sinochem saw off competition from Cnooc for the Peregrino stake.
“We’ve seen deals where the’ve been head- to-head against each other to the extent of undermining each other’s offers,” Gore said.
China, Deal Journal Asia
I yield to your greater knowledge sir you are more knowledgable on this subject than I thankyou for sharing it with me. Enough ass kissing have you seen the article Ive put up on this thread from the Wall St Journal it would seem that China is hunting for oil and oil companies to buy!! This should provide some interesting news in the next year. Good luck
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I don't really know much at all. Good article though and yeah I read they are looking for takeovers... maybe EKA, AUT and SEA could be on the agenda... hopefully not just yet though!
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SEA appears to be range trading (upwards) nicely.
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Nice graph, however, it just broke out of that range....
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I'm not looking at the intra-day range (since it broke out of that in November). If it closes (end of trading day) at or above 73c then it's still within range.
