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Sembmarine

u shorted or long? 3.81 is intra-day high for today

DnApeh      ( Date: 16-Apr-2008 14:28) Posted: 3.81 done.

 

3.81 done.

 

The Brazilian oil discovery was reported in the BT today. It is still at an early stage as they need to complete the assessment of the recoverable reserves.....after which  they will evaluate the economics and the technicalities to produce from this field. All this will likely take at least 3-4 years.

The business opportunities for Kepcorp and SembMar will likely be in the production platforms and FPSOs...........but we should see some action on this in 2011 and beyond. KepCorp will probably be better placed for this contract (when it comes about) cos of their yard in Brazil and by then they would have built 3 platforms for Petrobras.

BT report below.....

April 15, 2008, 7.34 am (Singapore time)

Brazil oil find may be biggest in 30 years Haroldo Lima told reporters the find, known as Carioca, could contain 33 billion barrels of oil equivalent, five times the recent giant Tupi discovery. That would further boost Brazil's prospects as an important world oil province and the source of new crude in the Americas. Mr Lima said he obtained the data from Petrobras at an informal level. But the National Petroleum Agency distanced itself from his remarks, saying in a statement that they were 'unofficial' and simply repeated information already in the public domain. 'All the data were already in the public domain, having even been published in the February edition of World Oil magazine, in the 'What's new in exploration' column signed by Arthur Berman,' the agency said in a statement. Petrobras also declined to confirm the estimate and said that studies on the find continued. Still, Petrobras shares soared on the news, finishing 5.63 per cent higher at 82.97 reais after gaining more than 7 per cent earlier in the session. Mr Lima would not say whether the preliminary reserve estimate he provided was recoverable or in-place. Recoverable reserves can constitute less than a third of in-place reserves. Last year Petrobras put Tupi's recoverable reserves at between 5 billion and 8 billion barrels of oil equivalent, most of it light oil. Petrobras tested one well at Carioca last year and is still drilling another. The company made the Tupi recoverable reserve estimate based on tests from two wells. Petrobras said in a statement the second well had not yet reached the subsalt level and 'more conclusive data on the potential of the block will be known after the evaluation process is finished.' Analysts said the estimate was probably still very preliminary, although it did not contrast with some geologists' forecasts made in the past. Recent reports by UBS and Credit Suisse also said the reserves could surpass those of Tupi. 'It's a very relevant number, basically triples the reserves. But it still seems a little premature to have a precise number while they are drilling a second well,' said Felipe Cunha, an analyst with Brascan bank in Rio de Janeiro. The Carioca area lies west of Tupi in the prolific Santos basin, off the coast of Sao Paulo state. BG has a 30 per cent stake in the project and Repsol 25 per cent. 'It's subsalt, and we knew there were big expectations for the subsalt cluster in addition to Tupi. But, if this is confirmed, it's really huge,' said Sophie Aldebert, associate director with Cambridge Energy Research Association in Brazil. 'With that size, you'd have plenty of gains of scale that could easily offset the subsalt geological challenges,' she added. The challenges include shifting salt clusters that require reinforced piping and producing in deep waters from huge depths under the ocean floor. Geologists had long voiced the theory that Tupi could have an even bigger neighbor containing light oil or natural gas. If the reserves are confirmed, Brazil could jump into the top 10 oil countries by reserves, surpassing nations like Nigeria. Petrobras also has said previously it sees good prospects for major oil finds in the subsalt areas in the Campos and Espirito Santo basins north of Santos, but it is focusing mainly on Santos at the moment. Most of Petrobras crude comes from heavy-oil Campos basin fields, but recent subsalt discoveries could make Brazil a major producer of higher quality oil. The company expects to start an extended production test at Tupi early next year and then crank up a 100,000 barrels per day pilot project there in late 2010 or early 2011. Analysts say, however, the costly subsalt development can take more time than Petrobras expects. -- REUTERS   RIO DE JANEIRO - An offshore find by Brazilian state oil company Petrobras in partnership with BG Group and Repsol-YPF may be the world's biggest discovery in 30 years, the head of Brazil's National Petroleum Agency said on Monday.

 

gEez..this is under top 10 gainers today

 

zhuge_liang...may i noe where u got the news below from? and when did it came out? thanks! 

zhuge_liang      ( Date: 15-Apr-2008 13:23) Posted: Shares of rig-makers rose as crude prices hit a new record and as Deutsche Bank said Singapore offshore firms could benefit from Petrobras making a big oil field discovery in Brazil. Keppel Corp and SembCorp Marine rose. The head of Brazil's National Petroleum Agency Harold Lima said on Mon the offshore oil field find could contain 33 billion barrels of oil equivalent and may be the world's biggest discovery in 30 years. "If the find is as significant as the news reports suggest, and Petrobras proceeds with full scale development, Singapore offshore players should be long-term beneficiaries from both rigs as well as production vessel orders," Deutsche analyst Pyari Madhava Menon said in a client note. U.S. crude futures prices surged to a record high above US$112 a barrel on Tue, driven by supply disruptions and a weak dollar.

 

Shares of rig-makers rose as crude prices hit a new record and as Deutsche Bank said Singapore offshore firms could benefit from Petrobras making a big oil field discovery in Brazil.

Keppel Corp and SembCorp Marine rose.

The head of Brazil's National Petroleum Agency Harold Lima said on Mon the offshore oil field find could contain 33 billion barrels of oil equivalent and may be the world's biggest discovery in 30 years.

"If the find is as significant as the news reports suggest, and Petrobras proceeds with full scale development, Singapore offshore players should be long-term beneficiaries from both rigs as well as production vessel orders," Deutsche analyst Pyari Madhava Menon said in a client note.

U.S. crude futures prices surged to a record high above US$112 a barrel on Tue, driven by supply disruptions and a weak dollar.

 

SembCorp Marine fell on worries of order cancellations, in sympathy with Cosco.

CIMB analyst Lim Siew Khee maintained the world's second-largest offshore rig builder at "outperform" with a target price of $5.11, citing strong demand for deepwater rigs.

"We believe the risk of cancellation of existing orders is low given that most rigs are in the work-in-progress stage with progressive payments received and deposits being collected for new projects," Lim said in a note to clients on Mon.

 

Hi peterchauatf: 

Good Q.
Did you get a chance to scroll down and read the helpful postings of ygc91285 and Kensonic77 on 26 Feb?  

 

Hi Friends, Do anyone know why is Sembmar moving down inspite of index moving up 30pts. Also read this notice "Transfer of Treasury Shares from Sembcorp Marine Share Buy-Back Account" what is the significants of this?

Can anyone explain to novice like us? Thanks

Farmer      ( Date: 17-Mar-2008 10:12) Posted: This is trading at ~4x NAV...more way to go as compare to the leader KepCorp.

 

This is trading at ~4x NAV...more way to go as compare to the leader KepCorp.

 

SembMar....trading for today opening and now trading, nothing to shot at....??

SembMar

CD

Opened 3.320

Last 3.310

-0.140ct

-4.1%

Total Vol 1,048,000

Buy Vol 13,000

Buy 3.310

Sell 3.320

Sell Vol 32,000

High 3.370

Low 3.300

 

Trade with care even if price is down and don't shot blindly, take care...Ya. BBs is watching. Smaller lots is usually done by traders, at any time it can go up and also come down. Especially for big cap stocks.

 

don't like this counter then short la..

short short short..depress the market... follow the general trend of the market...

 

What so good about this news? They didn't seem to win any more such rigs in the last many months. If I am not wrong,  they only bagged about 2 or 3 for the whole of 2007 as compared to almost 20 rigs for 2005 and 2006!

 

 

 

Can anyone explain why SembMar dropped from $3.86 to $3.74 from 4.30 pm to 5.00pm ( it was moving steady upwards), and especially the drop to $3.70 at 5.05 pm with huge vol of 796 lots. Usually the no. of lots transacted was less than 100 lots, from 4.30pm when the drop started the vol transacted were small : 1 lot, 3 lots, 10lots, 40 lots, 80 lots etc. Why at 5.05 pm 796 lots done at $3.70 ? May be Elfin can expain his phenomenon. Thanks.

 

Daily Share buy back.

Means the company could think the current share price is attractive or underestimated....etc.

Personally, I would think this is a good news to show that the current share is at attractive level.

But, please make your own judgement while investing.


 

 

Have managed to find out more... The following is for sharing purpose...

The buying back of outstanding shares (repurchase) by a company in order to reduce the number of shares on the market. Companies will buyback shares either to increase the value of shares still available (reducing supply), or to eliminate any threats by shareholders who may be looking for a controlling stake.
	A buyback is a method for company to invest in itself since they can't own themselves. Thus, buybacks reduce the number of shares outstanding on the market which increases the proportion of shares the company owns. Buybacks can be carried out in two ways: 1. Shareholders may be presented with a tender offer whereby they have the option to submit (or tender) a portion or all of their shares within a certain time frame and at a premium to the current market price. This premium compensates investors for tendering their shares rather than holding on to them. 2. Companies buy back shares on the open market over an extended period of time.

 

Hi,

Any forumer cares to explain what is this announcement about? Thanks in advance.

Please refer to the link below:-

http://info.sgx.com/webcorannc.nsf/0357d11048060bb84825735f0028e25b/dc2188db73c4864a482573fa00152029?OpenDocument

 

 

Sporeguy, you got 2 cents on top of your expected sell price...you should be happy.  Take the money and run