10%+ divvy with 10% upside even a wall street hedge fund has to like that, add in some out of the money call writing and you could see a 25% return
No help here, Anadarko reports a dry hole of shore at carrack-caravel in the Canterbury basin no plans for another try in the basin this year. On a positive note East-West reports that Cheal E-1, E-4 and E-5 have produce 60K barrels od oil allowing it recoup its CAD 5 million investment for the initial drilling program. So now TAG is getting its 70% from these wells . All I could find today
Will the run of successful drilling with no dry holes has ended. Tag's partner East-west petroleum reports that cheal G-2&cheal-3 were plugged and abandoned due sub economic thickness of hydrocarbons. had to happen eventually.
From Energy News New Zealand March 3 2014 Cheal G reached target depth of 1,940 meters @ Cheal G-3 last week The rig was booked to go toTag's southern cross PEP54876 next but has been held up by consenting delays. The rig has been stacked on the G-site where they are performing routine maintance. The delay is expected to last about 2 weeks. Also Anadarko and Origin Energy are within a couple of weeks of reaching TD for their of shore well in the Canterbury basin this well is adjacent to Tag's offshore lease. All I could find today.
The problem is one of SBS main reservoirs is only at 20% capacity which serves over 9 million of their customers they have requested water conservation and are offering a 30% reduction in the rate they charge for those that comply not good for revenue or earning will at least make a new low after next earning report look to enter at that point.
ok flowers since were all on pins&needles waiting for the news on Cardiff lets all take a best case guess. first PR will report on the K3 zone only 8.5 mmcf as a vertical well and 600 barrels of condensate will re-evaluate after 60-90 day flow test if needed we will re-enter for fracking. upper zones will be initially drawn down by 2 new wells to drilled later this year at Cardiff These wells will after draining their respected zones be rentered and drilled to the k-3 zone.. Anyone else out there care to stick their neck out.
The problem here is the DRIP program at this low share price it is very dilutive to the existing share count if their cost of capital in the open market is less then 20% they are killing existing holders. Stop the DRIP immediately or cut the dividend or both the market smell a rotten egg long before it goes bad with that said I still bought today if they do any of the above the share price should actually go up .
chop I think those that have been here for a while are well aware of that fact. it still good to have new eyes and money flow. better then a hatchet piece ay this price level
welcome aboard Newport, new York&gh0917: Since you folks have come aboard it appears you bought some good luck thanks for that, but all things aside do a 2 year research on TAG news. You may be surprised by the potential this little company has, it will take several years to play out but if they can prove just 10% of OOIP and get it in production on the east coast this is a 30 dollar stock. The Cardiff is the hopeful spring board for the company in the near term way over budget in time and money but if we can get a good flow rate and reservoir count it will be worth the money. On to hearseeker after that another potential game changer for TAG. Time will tell
Its sad that we as investors have to look at it that way but at least there must be something down there or they would not have spent the money to case it to TD . I hope so anyway, a good flow rate is what we are in need of now or we are in big trouble. The blog was all old news what about the cold stacked rig for heatseeker what's the status on that at least that would be new news.
tremendous amount of information thanks for sharing it.
Sentiment: Strong Buy
chopper, could not agree more with your statement communication is key good, bad or otherwise uncertainty is our enemy and these guys just don't seem to understand this basic concept.
I've search every possible link that I have and still can't confirm it, will get trying, if this is a false report put out by someone who is short the stock they are in for a lot of trouble. until then not what we need at this time,
there is some value here and huge potential but lack of execution and communication is causing this Chinese water torture to continue We are paying the price for over promising and under delivering the market doesn't take kindly to being misinformed or mislead. Tag has to learn how to communicate properly, it's going to take some time for trust in management to be restored and the only way that happens is do what you say your going to do, if there's a change in the plans let the market know the sooner the better, investors don't won't to be nailed every 90 days when TAG want's to feed all the bad news at one time.
Hello Bruce: Your summary of Cardiff is the most logical coarse of events to date that we as investors can hope for at this point in time, but this management team is starting to get under my skin, I like most are here for the East coast potential not Taranki wells. Cardiff is nothing more then a hopeful money bag to use for exploration and proving out the EC, If Cardiff is a bust this company will die on the vine with their shallow well program so they better have an ace in the hole for the EC with another farm-in partner as a back up or they will dilute us current shareholders with many a stock offering. This silly game of selling stock a 4.40 just as the stock was getting some traction last fall then announce another buy back is something that some may think is good stewardship of the stockholders company but I do not, if you need the money to grow the business fine but stop being a trader with our money. When I did my DD on TAG one thing that I was concerned about immediately was the lack of oil business experience. our CEO is a former investment banker with no previous leadership in the oil industry, the last annual report showed his direct ownership of stock @ 5000 shares not exactly a show of confidence if your asking others to put their money at risk. staying long for now but I won't give these guys anymore of my money until they prove they know what there doing.
A dry hole would be material information requiring the company to issue a PR cost overruns yes we all know that already . What we need to know is Cardiff commercially viable to put in production and at what flow rate. They better have some good news on the next conf. call or this company could be on the chopping block for a long time.