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Frank D. Bracken, III, Chief Executive Officer of Lonestar Resources, Inc. (ASX: LNR), presented today at EnerCom's The Oil amp; Gas Conference® 20.
Lonestar Resources is an Australia-based oil and gas company. The company's principal activity is the management and operation of oil and gas producing and prospective properties, as well as the development and exploration of oil and gas properties in the Unites States of America. The entire Williston Basin is spread across North Dakota, South Dakota, Montana and parts of southern Canada.
Lonestar Resources reported a 61% increase in net oil and gas production to 5,804 BOEPD in 2Q15, vs. 3,613 BOEPD in 2Q14. EBITDAX rose 32% to $22.1 million for 2Q15 vs. $16.7 million for 2Q14.
During the company's breakout session, management was asked the following questions:
- How many more assets do you want to acquire and what is your company's discipline for the balance sheet?
- With regards to the IOG deal, do you have any sunk costs? And how many acres do you have there?
- What types of wells do you want to drill in the Three Forks?
- What's your liquidity situation? What financial sources are available to you? Do you plan to sell some conventional assets?
- Can you walk us through your partnerships, both operated and non-operated?
- What different areas do you want to pursue in 2016? What are your priorities? The Eagle Ford? The Bakken?
- Where do you see costs going down further?
- Do you have a specific number of frac stages that you try to complete?
Click here for the webcast.
Important disclosures: The information provided herein is believed to be reliable; however, EnerCom, Inc. makes no representation or warranty as to its completeness or accuracy. EnerCom's conclusions are based upon information gathered from sources deemed to be reliable. This note is not intended as an offer or solicitation for the purchase or sale of any security or financial instrument of any company mentioned in this note. This note was prepared for general circulation and does not provide investment recommendations specific to individual investors. All readers of the note must make their own investment decisions based upon their specific investment objectives and financial situation utilizing their own financial advisors as they deem necessary. Investors should consider a company's entire financial and operational structure in making any investment decisions. Past performance of any company discussed in this note should not be taken as an indication or guarantee of future results. EnerCom is a multi-disciplined management consulting services firm that regularly intends to seek business, or currently may be undertaking business, with companies covered on Oil amp; Gas 360®, and thereby seeks to receive compensation from these companies for its services. In addition, EnerCom, or its principals or employees, may have an economic interest in any of these companies. As a result, readers of EnerCom's Oil amp; Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this note. EnerCom, or its principals or employees, may have an economic interest in any of the companies covered in this report or on Oil amp; Gas 360®. As a result, readers of EnerCom's reports or Oil amp; Gas 360® should be aware that the firm may have a conflict of interest that could affect the objectivity of this report.
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Can Slovakia become a Great Country? We believe it can.Â
Thatâs why weâre launching a 24-hour donation marathon at DobraKrajina.sk. Anyone can join. Letâs show what we can achieve together in only 24 hours â on Thursday, August 20, 2015.
Many good things are happening in Slovakia, yet itâs hard to be informed about all of them. Weâve chosen six NGOs that continue to make Slovakia a better place for living. With full commitment and very limited financial sources, they help people who cannot help themselves, and they help in situations that are often viewed as impossible to resolve.Â
You might think that your â¬5 or â¬10 contributions wonât change anything. But the Pontis Foundation will award â¬1000 to the NGO that collects the most money on Thursday, Aug 20 on DobraKrajina.sk. Every euro counts during this 24-hour donation marathon â and your donation just might make the difference.
Letâs change Slovakia together. Donate to one of the following six projects on Thursday, August 20 here: http://bit.ly/1P3RQ1i
The list of six NGOs:
The Youthâs Mission (Misia mladÃ½ch)
They are short of money â women whoâve lost their husbands, children whoâve lost their fathers, families with several children whoâve lost their breadwinners. The Misia mladÃ½ch (Orava region, Northern Slovakia) teaches them to be self-sufficient: to farm and decrease their costs of living, while at the same time living a healthy life. These families in need learn to breed their own chickens and goats and plant their own gardens. Your donation helps to provide them with an egg-laying chicken for free â to overcome a difficult period in their lives.
The Fair-Play Alliance (Aliancia Fair-play)
The investigators from the Aliancia Fair-play advise journalists, blog, speak, run campaigns, and disclose the misdeeds of politics and jurisdictions. They award individuals who bravely stand up for the public with a White Crow award. Donate and support their efforts to make Slovakia a better and fairer country.
The Forget-Me-Not (NezÃ¡budka)
Families with severely handicapped children live rough lives. The parents of these families must go to work, while the possibilities of caring for their children are very limited. NezÃ¡budka is the only house in the Senec region available for the 44 handicapped kids and teens who visit on a daily basis â for the majority of them, it is their only possibility to participate in any kind of social setting. Therapy and education provided by skilled specialists help these kids progress significantly. With your help, every child can get tailored and professional care, depending on his/her disability.
The Wild PoppiesÂ (DivÃ maky)
Help talented Roma children to develop their abilities. The DivÃ maky grantees are teens with the talent, motivation and ambitions to fulfil their dreams. However, they come from socially-disadvantaged environments where they are not able to fully develop their potential. Your donation will help pay for dormitories, teaching aids and summer camps for these children so they can better cultivate their talents.
In Nitra, a group of volunteers from Triptych, a citizensâ association, transformed an illegal waste dump into a park with playgrounds and a garden, which theyâve named Hidepark. Now, they regularly organize cultural events there. Help them build an indoor recreation facility in their cultural centre. Help Hidepark change Nitra into a more active and mature city.
People in Need (ÄlovÄk v tÃsni)
Help children from Roma villages receive tutoring. ÄlovÄk v tÃsni provides education to volunteers and pedagogy students who become individual tutors for Roma children from disadvantaged environments. They visit Roma families to assist children with learning and managing life outside of school, and they also work with the childrenâs parents. This is a chance for Roma children not to be resigned to the fate of their parents, but to live a more meaningful life.
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As for any speculation that TWC is experiencing a cash crunch some sources say Harvey pegged his future on the ITV pact and that the company has been slow to pay up on talent deals Glasser, who joined Weinstein in the interview, jumped in to say, When youre in the acquisitions business, thats just standard protocol. You dont see us sitting out there with 20, 10 or even one vendor in a legal dispute, so I dont know where that stems from.
As evidence of TWCs viability, Weinstein trumpets his ramped-up TV slate. Scream and Marco Polo have been renewed by MTV and Netflix, respectively. Project Runway (Lifetime) has produced three spinoffs. And TWC is partnering with ITV to co-finance a 10-part series, Mafiya, about Russian gangsters in Moscow in the 1990s. But for many of its shows, TWC functions as a producer-for-hire rather than the owner of the lucrative format, limiting the financial upside.
The deal for ITV to buy TWCs TV business may have fallen apart Weinstein declined to discuss why but he insists the exercise benefited TWC by placing a valuation of as much as $950 million on the unit. Hes still looking to strike a TV deal, though he says hes changed his mind on an outright sale: Were either looking to partner or joint venture. I dont know about selling. Wed probably get fired after two years.
Weinstein vows that TWC will maintain the Radius label, which distributed 12 smaller films in 2014, but I dont think well do as many films, maybe four or five good ones, and our acquisition team will cover it along with the Radius team. Some financial sources have speculated that Weinstein could make a play for Miramax now that its current owners, Qatar Holding and Colony Capital, are themselves exploring a sale. Its an attractive asset because of its steady cash flow, and it also holds sentimental value given that it is named after their parents, Max and Miriam, says one outside source, but Weinstein would need to find a deep-pocketed partner to bid on it. For his part, Harvey says, Were not going to buy it, because we have to have our priorities elsewhere, but wed love to manage it for somebody because we know where the gold is. (In 2013, TWC did enter a co-production deal with Miramax to develop properties in the 700-film Miramax library.)
Weinstein has had several midrange movie hits this year, including Paddington ($260 million worldwide), Woman in Gold ($51 million) and Southpaw ($50 million). On the slate is the actioner No Escape, starring Owen Wilson; the family drama About Ray, in which Elle Fanning plays a transgender teen; Burnt, the Bradley Cooper-Sienna Miller chef comedy; and awards plays Carol, the women-in-love drama starring Cate Blanchett and Rooney Mara, and Quentin Tarantinos Hateful Eight. Beyond that, the 2016 lineup includes such titles as Hands of Stone, a boxing drama starring Edgar Ramirez as Roberto Duran; The Founder, with Michael Keaton as McDonalds founder Ray Kroc; and the mining adventure Gold, starring Matthew McConaughey and Michelle Williams. If you look at the slate that Harvey has in front of him, and even go out until the end of next year, its single-handedly one of the best slates the company has had, Glasser testifies.
Insisting that his own decision to leave was strictly personal, Glasser adds, Bob and Harvey and I have a spectacular relationship. It just came the time that I was ready to move on. My kids are getting older. And Ive done everything here that I wanted to do.
While Weinstein searches for Glassers replacement, he attributes the fact that he has promoted so many other execs from within to a deep bench rather than to an inability to attract outside candidates. I know Im not easy to work for, he says, but at a certain point, I am easy to work for after a baptism by fire.
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The Fiscal Policy Office (FPO) has proposed separating the accounts of almost 20,000 Villages Funds ranked below grade B.
The move is aimed at unlocking and allowing them to receive fresh capital of 1 million baht each to stimulate the rural economy.
It is difficult for troubled Village Funds to address problems incurred under the previous management, so separating the new accounts from the existing ones to allow them to tap the new funding will help them, director-generalKrisada Chinavicharana said.
He said to prevent them from repeating past mistakes, however, the FPO must establish regulations.
Some 19,000 villages have not received the third round of the 1-million-baht new capital after the government recently paid an additional 6,000 villages.
The former Pheu Thai government approved the third round of the 1-million-baht injection to each Village Fund, and 25,000 villages nationwide at that time did not receive the new capital as they were ranked below grade B.
The present government last month separately extended 40 billion baht in loans to low-income earners and farmers in rural areas through Village Funds as a way to direct money to them.
Like the fresh fund injection, only Village Funds ranked grade A and B are eligible for the loans.
At present, 59,800 Village Funds, or 75.5% of the total 79,255 are graded A and B.
Transparency in fund management and accounting is the major factor defining the grade.
The funds have a combined 13 million members and cash flow of 200 billion baht.
High household debt, the worst drought in a decade, the spluttering economy and low farm product prices have hit low-income earners in rural areas and farmers.
Apart from fresh loans to Village Funds, the FPO is mulling several compensation measures to help rural residents.
Natee Khlibtong, secretary-general of the National Village and Urban Community Fund Office, said the government would expedite lending to the remaining Village Funds, but it must ensure the new management of such funds would not repeat past problems.
The Village Fund scheme was initiated by the Thaksin Shinawatragovernment to serve as a microcredit lender to rural dwellers, similar to Bangladeshs Grameen Bank, widening their access to financial sources to help them avoid resorting to loan sharks.
About 300 million baht in loans previously extended by Village Funds, representing less than 5% of loans, are under civil and criminal court proceedings. Late payment amounts to 2 billion baht, with 30% of Village Funds experiencing this problem.
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BENGALURU: Lalit Modi, the man who is the focus of the current controversial Parliament logjam in India, has claimed that he wants to uproot the International Cricket Council (ICC) and create a new cricketing system affiliated with the Olympic movement.
The former IPL boss, Modi, is wanted by Indian authorities on charges of money laundering linked with giving broadcast right of IPL.
Modi said today to an Australian media outlet about a master plan to overturn the official cricketing establishment, with an alternate one.
He told the Australian Broadcasting Corporation in an interview: We’re talking about another cricketing system. There is a blueprint out there, it’s got my rubber stamp on it. I have been involved in it. I say it for the first time; I’ve been involved in putting that (blue) print together.
Modi had earlier said that he was involved in the discussions to setting up a new cricket governing body but walked away from the project.
The plan that I have put together is a very detailed plan, it’s not a plan that’s come off the cuff, it’s been taking years and years and years in the making, he said.
Modi has been living a life of exile since 2010 in London after he was charged by the authorities in India with tax and financial crime. The authorities had received incriminating evidence against Modi during a series of raids conducted in his residence and office. Modi has been highly sceptical about the function of the ICC, its governance and financial sources.
He was highly critical of the powerhouse in ICC which he said was in the hands of India, England and Australia. He also believed that he could bring in a change in this order and find an alternate to the system.
We could take on the existing establishment, no problem, he said. It requires a few billion dollars, I don’t think it would be a problem to get that into action.
Modi was ousted from the job as the IPL chairman in 2010 and in 2013 he got a life ban from any role in cricket administration under the Board of Control for Cricket in India.
India's economic intelligence agency, the Enforcement Directorate, which is investigating the money laundering case against Modi had reached out to a Mumbai court which in turn produced a warrant against him last week.
According to the master plan of Modi, the alternate cricketing body affiliated with the Olympic movement had matches clashing with the calendar set up by the ICC. Interestingly Modi took down the 50 over-one-day internationals from his list as he believed the charm of 50 over game was over with the entry of T20.
The plan conceives only Test cricket and T20; it doesn’t take into account one-day at all, he told the broadcaster.
I think that is completely redundant in today’s day and age. I think it should just be T20 and Test matches that should be played. I have been proposing that. The ICC will never agree to that; never means never, he said. That means they would have to do away with the ICC. It is a plan that one day if I ever implement it, will rewrite history in the sport.
Part of the Modi's plan was giving T20 a push as an Olympics sport.