Bayfield Energy - BEH

Friday, Jan 27 2012 by

General discussion thread.

Bayfield Energy is an independent oil and gas exploration and production company with a balanced international portfolio of interests providing current production, near-term development, appraisal and exploration opportunities.

The business was established in 2008 by former executives of Burren Energy plc who had left that company following its acquisition by Eni.


I took a holding here yesterday, seems an interesting company and late last year a director spent over £300K buying shares at the same price they are now, so kind of suggests the price is decent. Ex-Burren management.


Web Site : http://www.bayfieldenergy.com/

Dec 2011 Presentation : http://www.mediafire.com/?m7gd6iwd3uru5u3


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Filed Under: Oil, Trinidad, Burren, Energy,

Disclaimer:  

As per our Terms of Use, Stockopedia is a financial news & data site, discussion forum and content aggregator. Our site should be used for educational & informational purposes only. We do not provide investment advice, recommendations or views as to whether an investment or strategy is suited to the investment needs of a specific individual. You should make your own decisions and seek independent professional advice before doing so. The author may own shares in any companies discussed, all opinions are his/her own & are general/impersonal. Remember: Shares can go down as well as up. Past performance is not a guide to future performance & investors may not get back the amount invested.


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Trinity Exploration & Production PLC is an independent oil and gas company. The Company is engaged in upstream oil and gas exploration and production, with the focus on Trinidad and Tobago. The Company operates 10 licenses in Trinidad, including two licenses in the Gulf of Paria, offshore Trinidad’s West coast, and eight onshore licenses. These licenses cover a total acreage of 12,581 acres and operate approximately 300 producing wells. Its Galeota block is situated within the established oil play of the Columbus Basin in shallow waters off the south-east coast of Trinidad. The exploration license for its Pletmos Inshore block covers an area of approximately 11,000 square kilometers. The Company holds 100% interest Pletmos Inshore block. Its onshore field includes Fyzabad-2, Guapo-1, Tabaquite, WD-2, WD-13 and WD-16. Its Offshore West Coast includes Brighton Marine. more »

Share Price (AIM)
50.02p
Change
0.3  0.5%
P/E (fwd)
15.4
Yield (fwd)
n/a
Mkt Cap (£m)
47.2



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7 Posts on this Thread show/hide all

Proselenes 27th Jan '12 1 of 7

http://www.guardian.co.tt/business-guardian/2012-01-25/british-official-promotes-caribbean-private-sector


British official promotes Caribbean private sector
Published: Thursday, January 26, 2012


With crude prices averaging around US$100 a barrel, T&T is unlikely to fully benefit because of continued declining production. On Monday last, the Central Bank presented its sustainability report for December 2011. During the presentation, both the Governor of the Central Bank Ewart Williams and his deputy Dr Shelton Nicholls, predicted further declines in crude production in 2012. Nicholls said: “While it is difficult to predict what crude prices will be like over the next year, it is fair to expect that production will continue to fall.” According to the Central Bank report, the decline in output from the energy sector was two-fold in that oil production was down due to maintenance challenges that affected condensate production, while, at the same time, natural gas production was down affecting the downstream manufacturers. The combined effect was a negative impact on the economy last year.

The report read: “Output in the energy sector slipped in the context of heightened maintenance operations and maturing oil fields.” Energy Minister Kevin Ramnarine has insisted that his mission is to increase domestic crude production. He has consistently said that Petrotrin holds the key to increase crude production and that the state-owned company had plans in place. He has set an initial target of increasing domestic production to more than 120,000 barrels of oil a day. Ramnarine said that while Petrotrin remains the key to increasing crude production, Bayfield Energy is likely to play an important role. Governor Williams told the Business Guardian: “The decline in crude production has been happening for a number of years now. That is our problem. We are faced with ageing fields and, as a result, we expect for 2012 production will continue to decline.” On Tuesday, energy consultant Anthony Paul told the Business Guardian that additional fiscal incentives is not the answer for increased crude production unless it is tied to concrete measures for increase production.

Paul said T&T has in the past given away its patrimony by giving fiscal incentives to companies and all they do it take profit. “Our biggest challenge is crude production. We have in the past given fiscal incentives, but we have not said if we give you this fiscal incentives, then you have to drill these number of wells or do this number of workovers. So unless you tie the incentives to concrete action, then all you will have on the part of the companies will be profit taking. He said too often, T&T has a knee-jerk reaction and rather than looking at the exploration potential of the acreage. T&T gets suckered into old arguments of fiscal incentives. Paul said it was also necessary to look at increasing production and efficiency in the wider energy sector if T&T is to get the kind of returns from the energy sector. He also agreed that crude prices were likely to continue strong for the rest of the fiscal year and that government’s 2012 budget price of US$75 a barrel was likely to hold true.

“While there has been a decrease in demand, particularly in the developed economies, there is still strong demand for energy in China and India, and I think that the prices will in the next nine months remain fairly strong. So the US$75 on which the Finance Minister has based his projections is likely to hold, even if you factor in T&T earning less money per barrel of oil because of the quality of the crude.”

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Proselenes 27th Jan '12 2 of 7

http://www.rigzone.com/news/article.asp?a_id=114632&hmpn=1

Bayfield Spuds New Trinidad well, but Trintes 2011 Production Disappoints
by Jon Mainwaring|Rigzone Staff|Friday, January 27, 2012

Bayfield Energy announced that it expects on Friday to spud the first well in its exploration and appraisal program on the offshore Galeota license area in Trinidad.

The firm – which is also active in South Africa and Russia, and whose stock is traded in London – said that Rowan Gorilla III is on location and jacked-up in preparation for the drilling of the well, designated EG8. The well is in 135 feet of water and will be drilled to a total depth of approximately 8,700 feet.

EG8 is a deviated exploration well intended to appraise the Lower Pliocene-to-Upper Miocene stacked, shallow marine sandstone reservoirs that w......................

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fuiseog 27th Jan '12 3 of 7

Surprised at the muted market response to the news that they're pulling out of Russia:-

"The termination of operations in Russia by Bayfield will result in a non-cash write-down of approximately US$ 3.5 million."

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Proselenes 27th Jan '12 4 of 7

All they did in Russia was reprocess the 2D seismic, nothing else. So pulling out has no other knock on effect than the above 3.5m non-cash write down.

They had no targets there and there was nothing in the way of prospective resources, all they did was try to find some and it seems they think there are no worthwhile ones there.

Everything for BEH at the moment revolves around Trinidad and in that respect production is now at 1700bopd and a new explo/appraisal well spuds today, which has quite significant upside for BEH should it come good.

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Isaac 14th Jun '12 5 of 7

Oh dear.......

 

2 Year chart. Click to open a chart window

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Isaac 14th Jun '12 6 of 7

The chart clearly shows one is mistaken if they think they can simply follow certain individuals who have had some kind of success in the past and expect them to simply repeat it.

I certainly won't be following Soco management into any new holdings based on their reputations.....

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kincora 12th Aug '12 7 of 7

Very little comment on thread in 2012 Last comment 2 monthsago

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