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STU, STUART PETROLEUM LIMITED
nipper
post Posted: Aug 9 2010, 04:25 PM
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In Reply To: kosmos's post @ Jul 29 2010, 03:56 PM

up 25% today on a couple of announcments

return to profit, announce dividend of 2c, secure further money from sophisticated investor



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"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
kosmos
post Posted: Jul 29 2010, 03:56 PM
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Stuart Petroleum would appear to be right back on track, plus now have added flavour.

 
nipper
post Posted: Jul 29 2010, 03:21 PM
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Announcement out re shale gas in Cooper

this one slipping under radars, though proving up and monetising is going to be 5 yr labour of love and capital





--------------------
"Every long-term security is nothing more than a claim on some expected future stream of cash that will be delivered into the hands of investors over time. For a given stream of expected future cash payments, the higher the price investors pay today for that stream of cash, the lower the long-term return they will achieve on their investment over time." - Dr John Hussman

"If I had even the slightest grasp upon my own faculties, I would not make essays, I would make decisions." ― Michel de Montaigne
 
garryg
post Posted: Dec 18 2008, 04:38 PM
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In reply to: Brierley on Thursday 18/12/08 04:32pm

Well summarised, B.

Production is OK but the debt, and future funding requirements, makes me wary. Suspect many others think the same way about STU at present.

 
Brierley
post Posted: Dec 18 2008, 04:32 PM
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I see the STU MD spent ~$4k of shareholders funds to go on BRR today and inform them what a good idea the oil hedges were.
Actually, I think the hedges were imposed upon STU by their lender prior to them blowing $25mil on the Bazzard wildcat.
At 45cps they seem to be trading at ~$A15/brl enterpise value for the CB 2P reserves and the remaining oil hedges equate to USD70/brl for the rest of FY2009 production. After that production is unhedged for now.
Seems cheap on EV/brl except they still have to finance the Oliver Field Development and the Refinery Project, plus they may drill a second well near Bazzard......
Uncertainty wrt to funding those projects puts me off a bit.


 
Brierley
post Posted: Oct 14 2008, 03:37 PM
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In reply to: Twobees on Tuesday 14/10/08 12:17pm

QUOTE
You can buy STU for 70c now. Bazzard was a big well for a little company. Don't know how they worked out the risk/reward on that one


As DB76 said, they were going for gold
Probably came to the realisation that they wont find another Worrior in the Cooper Basin.
Recent CB discoveries barely justifying the development costs
They carry some significant debt now and need more money for Oliver and the refinery project.
Might be worth a look next year after they secure funding and a rig for Oliver.

 

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Twobees
post Posted: Oct 14 2008, 03:17 PM
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You can buy STU for 70c now. Bazzard was a big well for a little company. Don't know how they worked out the risk/reward on that one. 2bs

 
RADIO
post Posted: Aug 26 2008, 03:38 PM
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user posted image
Recent ShareScene.com Radio Broadcast (20/08/2008 15:15:00):
STU - Oil Field Acquisition - Mr Tino Guglielmo, Managing Director

N.B. ShareScene.com Radio can normally be accessed by the 'RADIO' link, top of every page.
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ShareScene.com Radio delivers investor presentations from ASX listed companies. Keep up to date with the latest corporate dealings of the shares you follow. Hear news direct from the source. Listen to directors and investor relations mangers discuss their company, give investor updates and brief on current results. ShareScene.com Radio keeps you informed about company announcements and events, and provides you daily market wraps and industry discussions.
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Brierley
post Posted: Aug 20 2008, 11:57 AM
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DB76 wrote on NWE thread
QUOTE
most remarkable about STU is how thinly traded it is
only 3 buyers in the Q


STU normaly trades on thin volume.
I'm surprised it went up on todays announcement given the drilling of Oliver wont occur until mid 2009

STU now need to finance
:$25mil for Bazzard
:50% of $45 mil for phase one of refinery project.
:$85mil for drilling/development of Oliver

At least the above projects are in Australian administered onshore/offshore areas so they get a tick for low sovereign risk.




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Brierley
post Posted: Jun 25 2008, 09:55 AM
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In reply to: Brierley on Monday 26/05/08 04:06pm

QUOTE
thanks - I dont follow STU much

reading their O&G presentation

2p=2.9mmbbl and expected prodn 600kbbl/yr gives them a ratio = 4.8yrs - not long

that production gives them a big cash flow at ebitdax of $72/bbl

the Bazzard prospect in VicP53 they say has an mean unrisked reserve of 50mmbbl of oil

do you know who the other JV partners are ?

risked reserve would be what - Chance of Success 15% x 50 = 7.5mmbbl x 50% equity = 3.75mmbbl
or Zero

more realistic to say Zero to 25mmbbls
At Zero they have lost $25M or a gain at 25mmbbl x Valuation $32/bbl = $800M
at their low shares on issue of about 67M a discovery would be big jump in sp

a company making or maiming deal - it wouldnt kill them but like DLS they may have to grovel and raise equity

very high risk for a company that expects to make a FY NPAT of about $15M and similar to what DLS risked

with the low shares on issue it may be prudent to go for equity raising as it is hard to borrow in this environment

I couldnt find any of their current debt figures but the presentation stated that they had total liabilities of $39.9M / $75.3 Total assets = 53% as of 31/12/07 - quite high

faced with a 4.8 yr reserve life they are going for gold

also notice they are interested in Angola --- could team with ROC


Regards


DB76
MOG are free carried for Bazzard @ 8.33%.
I prefer MOG as a BESBS play but it is riskier than STU and they dont have much cash so a raising is likely prior to Bazzard spud.
MOG was good buying ~7c recently but over 9c and with a raising likely its a risky entry

STU have a debt facility with CBA booked against CB reserves and I think they will drawdown on this to fund Bazzard.
They also have to fund 50% of the refinery project, stage one cost ~45mil from memory.

As you say
faced with a 4.8 yr reserve life they are going for gold





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