Global Energy Conference

Thursday, Jul 15 2010 by
4
Global Energy Conference

Over the past few years the need for a forum to present a more global view of energy investments has become evident. At this conference FirstEnergy and Société Générale will host a number of international energy companies that have operations in over twenty countries providing a valuable insight into regional investment opportunities on a global basis.

 In addition, the Global Energy Conference will provide an opportunity to meet with members of the FirstEnergy London team which has continued to grow and expand during its first year of operation.

This event is co-hosted by FirstEnergy Capital and Société Générale and is by invitation and for institutional investors only.

Attending companies will include:

  • EnQuest PLC
  • Cirrus Energy Corporation
  • Sterling Resources (UK) Ltd.
  • Dana Petroleum plc
  • Circle Oil Plc
  • TransGlobe Energy Corporation
  • Sea Dragon Energy Inc.
  • Petroceltic International plc
  • Regal Petroleum plc
  • Zhaikmunai Limited Partnership
  • Niko Resources Ltd.
  • Providence Resources Plc
  • Aurelian Oil and Gas PLC
  • Toreador Resources Corporation 
  • Petrominerales Ltd.
  • Gran Tierra Energy Inc.
  • C&C Energia Ltd
  • Parex Resources Inc.
  • Dominion Petroleum Limited
  • Chariot Oil & Gas Limited
  • Gulfsands Petroleum Plc
  • Bankers Petroleum Ltd.
  • Serica Energy plc
  • Stratic Energy Corporation
  • Rocksource ASA
  • Eaglewood Energy Inc.
  • GeoPark Holdings Limited

 


Filed Under: Oil & Gas,
Date9:00am Monday 20th September, 2010
Location44 Grosvenor Square, London Mayfair, England
PostcodeW1K 2HP
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Attendees Confirmed (3)



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8 Comments on this Event show/hide all

djpreston 13th Sep '10 1 of 8
2

Should be a very worthwhile conference with a very interesting range of companies presenting.

Quite what anyone will get out of the Dana presentation (that isnt already in the defence document) is anyone's guess. I wouldnt be surprised if they werent there at all. Stratic is also unlikely to appear given their takeover.

Anyway, a lot of interesting companies for those who have money to come from a DNX takeover.

Id particularly highlight:

Circle Oil (LON:COP), SLG, Parex, PMG, Bankers Petroleum (LON:BNK), Petroceltic International (LON:PCI), Gran Tierra

Will also be interested in looking at a fair few of the others to bring myself up to date.

Fund Management: European Wealth
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marben100 13th Sep '10 2 of 8

In reply to djpreston, post #1

Hi djp,

Will also be interested in looking at a fair few of the others to bring myself up to date.

I'd be interested too but, unfortunately:

This event is co-hosted by FirstEnergy Capital and Société Générale and is by invitation and for institutional investors only.

Grrrr.... you couldn't arrange for some "colleagues" to join you, could you? :0)

In any case, I'm sure we'd all very much appreciate any feedback you are able to post.

Best,

Mark

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ohisay 13th Sep '10 3 of 8
1

In reply to djpreston, post #1

Yeh - can you get me in Mister.?

(As I remember trying to get into A films at the cinema more years ago than I like to remember)

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moniclub 15th Sep '10 4 of 8

Looks like a webcast of proceedings could be available from 20 September, though, of course, access might be restricted.

see: http://firstenergy.com/rsvp/form.php?form_id=193

M

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Edward Croft 15th Sep '10 5 of 8
4

I believe from last year the webcasts were available publicly on signing in to the website. They were removed after about 8 weeks.

Several of us from Stockopedia will be going, so we look forward to seeing anyone who's in attendance. Any questions needing answered from execs presenting, let us know.

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djpreston 22nd Sep '10 6 of 8
28

So where to begin?

The conference was a whirlwind trip around 28 different companies with a line up only slightly different to that at the top of the header.
Those who didn’t attend (from that list) were:

Dana – wonder why?
Stratic – absorbed by another presenter.
Chariot
Geopark
And Regal.


Those who stepped in were:


Bahamas Petroleum Co (much easier as the old BPC)
Coastal Energy
Seven Energy
Cove
Heritage
Canacol Energy.

In addition there were others attending but not presenting so good for a chat at break or lunch/dinner.

Its fair to say that my brain hurt after the two days – lots of information provided quickly and very well moderated by the team from First Energy. If I see another seismic line… studying too many of these leaves you with a real headache.

Ed and Dave were present for one day each so maybe they could chip in with general thoughts – I don’t imagine that they will feel comfortable commenting on individual presentations though.

The timing of the conference was quite good given that we have DNX probably being consigned to the graveyard and the need to reinvest those funds released by the KNOC takeover. The conference definitely gave some food for thought and generated some ideas.

I don’t propose to write up each company on the thread. Perhaps the best idea is if I throw out a few thoughts (and they will be brief) and then if anyone is interested (or if I find the time) then a new thread for that company could be created?

The main point to make is that most of the companies there have finances to do what they want to be it explore or develop. Undoubtedly some of the explorers will need to raise additional funds as they lack cash flow but generally the explorers drilling programmes were covered. Maybe I'm getting old but I found myself being drawn more towards the companies with cash flows and finance than the more binary ideas that I often see. They may not be ten baggers on a toss of a coin result on a well but they do look capable of solid growth.

So, the ones that I felt looked interesting first (not in any particular order).
Enquest – very much North Sea focussed with no real intentions of straying too far from home. Strong balance sheet and I guess you could say that this is the most Dana-esq company presenting there. If you liked Dana’s/Paladin’s focus at home then this could be worth a look.

Sterling Resources – well what can I add compared to what has been discussed here and on TMF? The Cladhan news and sight of the seismic certainly caught the imagination of a few of those attending with some very big numbers being talked of if it all works out re OWC and lateral extent. One thing that does appear to be overlooked by the analysts is the Romanian acreage, with Eugenia being a big oil prospect. The uncertainty is over the approvals but the company is confident (as you can be) ditto Melrose (who farmed in).

If you don’t like South America then look away because I was very interested in seeing the presentations from PetroMinerales, Gran Tierra, C&C Energia and Parex. The first three are the “lower” risk options I would say given the state of their balance sheets and the cash flows being generated and recycled into new opportunities. Parex is on the fringe of that group in terms of risk, I would say, since it is on the point of significant cash flows but has plenty of funding for their drilling programme. Unlike the others it is also active in Trinidad where they are awaiting govt approval for testing their successes at Firecrown and Snowcap.

The one that really stood out for me was perhaps the one that looks the most expensive at the moment. Niko resources. $5bn market cap with a strong balance sheet and cash flows. The core has to be the 10% interest in the D6 block in India where production is currently at 2.1 bcf/d yes Bcf.. so that’s 210MM scf/d for Niko. There are many wells that have been drilled on the block so production can be easily increased but Reliance (the JV partner) is in discussions with the Indian govt on getting price raised from, IIRC, $4.20 now.

The key to Niko is to just look at the explo blocks that they have, the very high interests, their locations and wonder. 36 explo blocks (26 operated) covering 34M acres in seven countries - India, Kurdistan, Madagascar, Pakistan, Trinidad, Bangladesh and Indonesia. 16 wells to be drilled in the current fiscal year with 26 next.

Blast, run out of time and got a meeting to get to. Hopefully more tomorrow.

Fund Management: European Wealth
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repobear 23rd Sep '10 7 of 8
2

In reply to djpreston, post #6

Hi Darron,

''Sterling Resources – well what can I add compared to what has been discussed here and on TMF? The Cladhan news and sight of the seismic certainly caught the imagination of a few of those attending with some very big numbers being talked of if it all works out re OWC and lateral extent.. ''

I've just posted this over on TMF and wondered if you or some of the other oil experts here might care to comment.

http://boards.fool.co.uk/fans-12046569.aspx

Having listened to the recent presentation I posted my thoughts on teh Cladhan revisited thread above. It could be huge and only the drillbit can tell us that.

This morning ultim posted this over on iii

http://www.iii.co.uk/investment/detail%3Fcode%3Dcotn:EO-.L&a...

''For anyone that doesn't have time to watch the Sterling presentation, I'm going to summarize what's said so that the massive potential upside of Cladhan alone is understood.

Cladhan is on a graben, a section of rock that has parallel fault lines on either side of it. The well they recently drilled was located on the top of the graben. But they've found the oil in it overpressurized by 1800psi relative to it's depth. Why is that????

They suspect that it is overpressurized because the first reservoir is effectively a small satellite reservoir linked to a massive reservoir below it via a small sand channel. And the reason all the oil is overpressurized is because the the entire weight of the graben is sitting on the lower reservoir, helping force the oil upwards into the smaller top reservoir.

They are drilling the side track down through the sand channel in the hope of hitting oil in that potentially massive lower reservoir.This is game changing stuff.''

Sort of confirms my thinking after listening to the May presentation and hearing about the fan. Do any of you oilies know what else could be causing the high pressure?''

repo

PS We should have a better idea within a week or so anyway.

PPS great post Darron, thanks

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repobear 10th Oct '10 8 of 8
4

I came across this which might be a useful source for some of you. I couldn't think where to put it but as several of the companies who presented here are mentioned I have posted it here.

http://www.investorvillage.com/groups.asp?mb=13695&mn=5804&pt=msg&mid=9618038

''Q4 High impact drilling
GTE - Gran Tierra - Moqueta- 4 appraisal well - very big 1.5 km step-out -
GTE – Gran Tierra - Iquitos Arch Block 128 spud Kanatari # 1 well - 150 mmbo heavy medium oil
GTE- Gran Tierra ~ Pacayaco – 40 mmbo light oil Q4 spud, near Costayaco

GTE – Gran Tierra – Tarauka-1 test results Foothills Trend 30 mmbo, light oil

GTE – Gran Tierra Rumiyaco -1 spud well Foothils Trend 30 mmbo, light oil

GTE – Gran Tierra La Vega East -1 spud well Foothils Trend 10 mmbo, light oil

PMG – Petrominerales – active exploration/ appraisal / drilling program
CEN.v – Coastal Energy continual exploration and development drilling gulf of Thailand.

PRE – Pacific Rubiales ~ Quifa , Arauca 1000 mmbo on-going Colombia heavy oil projects

PMG – Petrominerales ~ Corcel E, F, B, oil fields on-going development drilling

CEN.v – Coastal Energy four North Bua Ban prospects light oil shallow water.

PXT.v – PXT ExplCo – Exploration Colombia and Trinidad and Tobago

HNR – Harvest Natural Resources – two wildcat exploration wells – Indonesia

POE – Pan Orient wildcat exploration wells – Indonesia

EGY- Vaalco Energy – spud exploration well Qmangov #1 Gabon Africa – 6 mmbo light oil

EGY- Vaalco Energy – spud exploration well Elili #1 Gabon, Africa – 20 mmbo light oil

SLG.v – Sterling Resources North Sea – Greater Breagh 2 gas appraisal wells

SLG.v – Sterling Resources North Sea – Grian prospect Quad 48 gas exploration well

TAT – TransAtlantic wildcat exploration block 4175 Zargos fold belt

TRGL – Toreador Resources (Hess JV) Paris Basin shale vertical well. Long range plan.

WIX – Winstar Resources exploration drilling in Tunisa – 4 mmbo prospects
CNE.v - Canacol Energy exploration Guyana on-shore appraisal of a non-commerical oil discovery 400 bod.
CZE.to - C&C Energia - Rio Magdelana basin light oil prosect. ''

There's a ist of develoment drilling too involving some familiar names:-)

repo

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About First Energy

First Energy

Since our inception in 1993, FirstEnergy Capital Corp. has grown to become the leading investment dealer focused on Canada's vibrant energy sector. Our industry-leading team is focused exclusively on serving the needs of energy companies and sophisticated institutional investors on a global basis. FirstEnergy has redefined energy for our energy based corporate and energy focused institutional clients by broadening coverage beyond oil and gas exploration, production and service companies. Our definition of Energy includes energy exploration, production and transportation as well as electricity generation, energy technologies and income trusts. The top ranked research and analytical capabilities that have made us the leader in oil and gas are now available to a broad range of energy production, energy services and energy infrastructure oriented participants in the energy sector.   more »


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