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Cobalt International Energy, Inc. Message Board

lufkinunit 8 posts  |  Last Activity: 20 hours ago Member since: Sep 28, 2004
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  • lufkinunit by lufkinunit 20 hours ago Flag

    I did a little further research on Statoil in the Kwanza Basin. They currently produce 200,000 bbl/day which is their largest production outside the North Sea. They own or are partners in Blocks 22(contiguous to our block 21) 38 (which touches our block 21 on the sw corner) 39, 40 and 25. This is a huge position and a tremendous commitment to the Kwanza. In a release they say "Statoil will start drilling in its Kwanza operated portfolio during the second quarter of 2014. Dilolo-1 is the first high impact prospect to be drilled in block 39. Following the drilling of Dilolo, statoil will operate its second commitment well in Block 38 to the north of Block 39, In the next two to three years, Statoil will in total participate in eight commitment wells in the Kwanza basin." Prettty exciting imo.

    adios,

    lufkinunit

  • Reply to

    Couldn't help myself

    by lufkinunit May 23, 2014 3:38 PM
    lufkinunit lufkinunit 21 hours ago Flag

    Couldn't help myself again, bought more at $16.60. Cameia should be down and maybe other results in the Gulf. I still believe that someone will take them out. It is easier to buy billions of barrels of reserves cheaply than to find them and CIE has been extremely good at finding them. Look at Statoil. They are huge and drilling or plan to drill a lot of wells off Angola. They just sold part of their position to derisk. I think they would be a good prospect to purchase us. If they don't and if Total doesn't, we now have enough money to continue to make these fabulous discoveries until cash flow time. One other thing, Angola is Statoil's largest producing location. I'm ready for a good report!!!

    adios,

    lufkinunit

  • Reply to

    Test Flow Rumors at DJ2

    by oilslicker52 May 27, 2014 4:32 PM
    lufkinunit lufkinunit May 28, 2014 12:41 PM Flag

    Slicker, I hope you are right. We know for a fact that they perforated in Feb. and have been diligently prepping for a test. This could big. Time wil tell.

    adios,

    lufkinunit

  • lufkinunit by lufkinunit May 23, 2014 3:38 PM Flag

    Sold a bunch of MPO on Monday and redeployed into RIG, FCX and this dog; ) So I am over my mad and pulling for an announcement on Cameia soon. Have a great Memorial weekend.

    adios,

    lufkinunit

  • Reply to

    Liars

    by lufkinunit May 7, 2014 4:59 PM
    lufkinunit lufkinunit May 13, 2014 8:14 PM Flag

    xxnjr, thanks for taking time to go back and listen and post what they said. It is pretty much as I posted from memory, since I have limited technical skills. As a listener of the CC, what they said made me feel as if there would be no further dilution, i.e. additional shares of stock issued, now or in the future. That they would either partner with others or sell less desirable properties to fund future opportunities. The second statement, in my opinion, is a bunch of goobledegook, which tries to mislead stockholders into realizing that they were well on their way (they had to be working on this for months) to further dilution..
    It might work out to be the best thing that ever happened if the contiunue to find fabulous fields and are able to bring them online without having to take others in as partners or having to sell off part of their interest, but that is not what I, as a fairly sophisticated investor, and very sophisticated in oil and gas, was led to believe. Obviously the market did not like it. I appreciate everyones view on this but I still do not like it and feel I was misled. I hope they continue to have fabulous success as I still have a very large position and need them to succeed as I am well in the hole having bought shares all the way up to $30. I might add that I have equally large positions in FCX, MPO, SN, MCF (actually larger as they have appreciated) and I do not feel I have ever been misled nor have I ever posted a negative comment about management.

    adios,

    lufkinunit

  • Reply to

    Liars

    by lufkinunit May 7, 2014 4:59 PM
    lufkinunit lufkinunit May 13, 2014 5:18 PM Flag

    Heh oilexplore, yeah I have been in a while and really like the story and I didn't sell anything. I am a little hot headed and I just think it is chickensh## to have a call and lie to your stockholders. I still feel that way. I would add that I did check with a lawyer about a possible suit and was told something about it being a shelf registration and that it has been there for sometime hidden in all the filings and that I didn't have grounds. I still like the story and am well of the analogous situation to all the Brazil offshore finds, but now I will never believe anything management says. This is the only oil and gas story that I am in that I am down on. You would think that with all the "world class discoveries" the alleged "largest discovery of the year, Lontra in 2013" and with Orca allegedly "bigger than Lontra" and I believe that Hiedelberg was supposedly the "discovery of the year" back in 2009? With all these world class discoveries how could the stock performance be so disappointing? Could it be management and debt? That is my opinion.

    adios,

    lufkinunit

  • lufkinunit by lufkinunit May 7, 2014 4:59 PM Flag

    At the last CC they said they had plenty of money thru 2015 and would seek ways to stay liquid that was best for the shareholders, meaning no more dilution. I would call management out and out liars and even though I have a huge position, for me, and like the story I will be gone in the morning. it is a crying shame that they cannot be trusted and I feel like a fool for trusting them. I will go back and listen and get the exact verbage and contact IR for an explanation and then see what my options, if any, are.

    adios,

    lufkinunit

  • lufkinunit lufkinunit May 5, 2014 3:55 PM Flag

    Another thing we do know is that they have 10 rigs running and they are drilling wells faster and cheaper than at anytime in their history. They will release the results of the ones that have been completed and their should be quiet a few. Another thing we know is that the price of gas is up significantly and the part that is unhedged will be a pleasant surprise.
    Another thing we know is they they have received their money for the La. sale. It is my belief that the quarter will be good, but not great. Part of the reason will be the interuptions in completions and production due to the unseasonable cold weather in the first quarter. That will have no affect in the long run however as the EUR's will be the same. it is just a matter of time.

    adios,

    lufkinunit

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