EGO - Empire Oil [Archive] - Aussie Stock Forums

krisbarry

9th-October-2004, 10:32 PM

EGO – Empire Oil

HI All,

EGO...Would appear to be a great stock to invest in after recent company announcements finding Significant & Encouraging Petroleum Geochemical Results. The Share price doubled from 0.6 cents to 1.2 cents.

With the price of crude oil reaching record highs of 53US per barrel it is only a matter of time before Empire hits the black/gold, well I Hope!

I recently watched Oilex OEX rocket from 16 cents to $1.07 when they stuck oil and it would appear that Empire Oil is very close too.

Empire Oil is (weather permitting) going into oil production this quarter.

(EGO) SHOULD I BUY STOCK?

Kris

RichKid

10th-October-2004, 12:06 AM

Any idea when they'll start production or when the next major event is?

It's been in a long term downtrend, now appears to be consolidating, resistance at 1.5 cents. Funny that it didn't shoot through 1.5c if it had been as promising as they say. I note that it jumped up about a year ago in a similar fashion to the recent hike and then dropped back again after hitting 1.5c. History may be repeating itself or maybe it'll break through this time.

I don't know anything about the company so I can't comment apart from the observations above and I can't make recommendations for legal reasons. Looks like a volatile stock alright.

krisbarry

10th-October-2004, 10:25 AM

Unsure of when next the next major event will be or when they'll start production, although as reported oil production is a priority for the company due to the high world oil prices.

Going into oil production this quarter, means by December Right?

Bonk

10th-October-2004, 11:26 AM

NO~! You should evaluate other oilers and get a decent grip on yourself. Maybe that will give you a yardstick . The rest is commonsense .......?

Mofra

10th-October-2004, 09:06 PM

Kris,

Are you seriously going to make your decision based on the opinions of anonymous alias' in a chatroom? If so, that's an incredibly brave move.

Good luck

RichKid

10th-October-2004, 11:10 PM

I'm assuming Kris is already in the stock, if not, in line with my last remarks remember it is very volatile (this means it can go down just as fast as it went up). To clarify I wasn't recommending you buy or stay out or sell. It's all upto you. Not every stock is an Oilex! Alwasy be cautious when the market is mad over something (like oil) but there are opportunities.

krisbarry

11th-October-2004, 06:52 AM

I was just getting a feel for the stock sure its not an oilex but even if it hits the 4 cent mark when it finds oil it is still a massive gain. Very volatile stock, thats for sure. I have noted the Total Class Issue of 838,550,018 shares so of course it will never reach the highes of oilex, but in percentage gains it may just do the same.

I am going againts the general feel for this stock and will buy this morning and hope for the best.

K

krisbarry

14th-October-2004, 09:59 AM

**May break through the 1.5 cent barrier very soon, the sellers market seems a little less clogged than a few weeks ago**

Sydney - Tuesday - October 12: (RWE Australian Business News) -
Empire Oil & Gas NL has entered into an agreement with First Diversified
Financial Services Inc, a Houston-based financial services company, for
FDFS to raise funds in the US of up to $US11.35 million (with a minimum
of $US4.42 million) from financial institutions and mutual funds.
These will be expended pursuant to the agreed farmin terms
consisting of recording seismic and drilling up to five wells in five
defined oil and gas Prospect Areas.
These are within four of Empire's onshore Perth Basin Petroleum
Exploration Permits in Western Australia.
It is planned to expend the capital raised over a two year
period.
During the first half of 2005, it is planned to carry out the
following programs at an estimated cost of US$4.42 million - drill the
Moriary-1 oil exploration well in Exploration Permit EP 426; acquire a
70 sq km 3D seismic survey over the Gingin Gasfield and Gingin West
Prospect in Exploration Permit EP 389; acquire a 60 km 2D seismic survey
over the Yeal Prospect in Exploration Permit EP 389; acquire a 50 sq km
2D seismic survey over the Wellesley Prospect in Exploration Permit EP
416; and acquire a 100 sq km 3D seismic survey over the Mullering
Anticline in EP 432.

krisbarry

15th-October-2004, 02:18 PM

Update...

Sydney - Friday - October 15: (RWE Australian Business News) -
Empire Oil & Gas NL today announced the grant of Application 4/02-3 in
the North Perth Basin as Petroleum Exploration Permit 432.
The grant of the EP 432 is a result of the settlement of Native
Title agreements over all of the company's Perth Basin applications for
petroleum permits.
The main prospective area within the EP 432 permit is the large
Mullering-Cataby Anticlinal Trend.
Prospectivity for oil is demonstrated by the Cataby-1 well
(1994) drilled off structure, which encountered good oil shows and a
2.5-metre sand at 1690 metres which flowed 25 to 30 barrels of oil per
day during a drill stem test.
The Jurassic-aged Cattamarra Coal Measures sandstone reservoir
in the Mullering-Cataby area is sealed by a 200m-thick sequence of
shales, which are thick enough to also provide lateral seal across the
many crestal faults on the Mullering-Cataby structural complex.
Interpretation of seismic data over the Mullering-Cataby
Anticline has defined 10 leads.
Potential recoverable oil reserves of these leads range from 5
to 10 million barrels each.
Shares in Empire Oil & Gas today rose 0.2c to 1.4c.

the.j

20th-July-2005, 06:34 PM

First load of oil due for refining this week...

asx release (http://www.empireoil.com.au/asx/pdf/asx180705b.pdf)

Any comments?

Cheers
J

mime

20th-July-2005, 11:01 PM

Does it own the oil field outright? Or do they just own a share? If they own it all it would probably be a good buy.

the.j

29th-July-2005, 04:14 PM

100%....

Full details and their other prospects have just been published to the ASX

yogi-in-oz

21st-November-2005, 10:27 AM

:)

WARNING ..... astrostuff ahead ..... :)

Hi folks,

EGO ..... as per previous post, the time cycle on 26092005
brought us some production figures and plans for their
drilling program, ahead ..... it also saw the highest
volume traded for EGO, in the past 12 months.

Now, you will remember how we were rubbished for
our positive stance on CVN, which subsequently saw
a rally of more than 100% .....

..... well, here's another turn-around story and just
like CVN this one will take time to unfold, due to
the large number of shares on issue ..... but, it
should tick up very slowly, making us some useful
dollars, along the way.

In fact, this week we should see some renewed interest
in this stock, as a major cycle comes into play.

EGO ..... has pulled back to test September 04
lows in recent times, but should start to improve
later this week, as we come into a positive cycle.

From previous post, on 16092005:

"Later in November, looks a lot more positive for EGO,
(new technology ???), particularly around
24-28 November 2005 ..... :)

02-05 December 2005 ..... 3 major cycles, at this time."

At least 3 wells scheduled for EGO in coming months.

Being highly liquid, EGO will probably attract some
daytraders too, as the price lifts off its lows.

happy days

yogi

P.S. ..... holding EGO.

:)

Porper

21st-November-2005, 04:16 PM

:)

WARNING ..... astrostuff ahead .....

Hi folks,

EGO ..... as per previous post, the time cycle on 26092005
brought us some production figures and plans for their
drilling program, ahead ..... it also saw the highest
volume traded for EGO, in the past 12 months.

Now, you will remember how we were rubbished for
our positive stance on CVN, which subsequently saw
a rally of more than 100% .....

..... well, here's another turn-around story and just
like CVN this one will take time to unfold, due to
the large number of shares on issue ..... but, it
should tick up very slowly, making us some useful
dollars, along the way.

In fact, this week we should see some renewed interest
in this stock, as a major cycle comes into play.

EGO ..... has pulled back to test September 04
lows in recent times, but should start to improve
later this week, as we come into a positive cycle.

From previous post, on 16092005:

"Later in November, looks a lot more positive for EGO,
(new technology ???), particularly around
24-28 November 2005 ..... :)

02-05 December 2005 ..... 3 major cycles, at this time."

At least 3 wells scheduled for EGO in coming months.

Being highly liquid, EGO will probably attract some
daytraders too, as the price lifts off its lows.

happy days

yogi

P.S. ..... holding EGO.

:)

Just had a look at the chart of EGO and it isn't often you see one as flat as this.Unless there is some exceptional news about to break it's hard to see it moving out of it's trading range, which let's face it isn't very wide.

But I suppose if the stars say buy who am I to argue.:rolleyes:

yogi-in-oz

29th-December-2005, 04:15 AM

:)

Hi folks,

EGO ..... volume up again, today.

Looking for some positive news out of this camp,
around 09012006 ..... ???

happy new year

yogi

:)

Ann

29th-December-2005, 11:04 AM

...and a chart from me.....

yogi-in-oz

29th-December-2005, 11:45 AM

:)

Many thanks for the chart Ann, as well as the link
to the Gann info and charts ..... great stuff.

EGO ..... not the prettiest chart and it could break
down and test previously lows briefly, but typical
contrarians look for opportunities, when the masses
are negative and caught offguard, by surprise positive
news.

thanks again

yogi

:)

yogi-in-oz

23rd-February-2006, 09:50 PM

:)

Hi folks,

EGO ..... will be alert for some positive news,
over the next few days ..... :)

happy days

yogi

:)

=====

YOUNG_TRADER

9th-March-2006, 08:38 PM

Looks like this old dog is trying to shake off its fleas, read in a reort somewhere that they will be drilling a well soon, first well in a few years and have farmed out to drill a few more, still its a dog nonetheless, but you know what they say, every dog has its day in the sun

Can't imagine holding an oil stock company that only drilled a exploration well every few years,

anyone actually follow this stock? If so some info would be appreciated

yogi-in-oz

9th-March-2006, 09:08 PM

:)

Hi folks,

EGO ..... a small-time oil producer, with a high number
of shares on issue, so any recovery will be slow - a bit
like CVN ..... making a very slow rounding-bottom.

Traders will probably move in,as spud dates are firmed
up for scheduled wells, ahead ..... :)

Looking ahead EGO key dates may be:

13032006 ..... negative (finance-related) ???

27032006 ..... minor cycle

12042006 ..... positive (finance-related) ???

happy days

yogi

:)

YOUNG_TRADER

9th-March-2006, 09:47 PM

:)

Looking ahead EGO key dates may be:

13032006 ..... negative (finance-related) ???

27032006 ..... minor cycle

12042006 ..... positive (finance-related) ???
:)

I've always been curious how do you come up with these dates and predictions?

Some sort of charting technique or something, its a bit far fetched for me, but I'm curious as to exactly what it is.

yogi-in-oz

18th-April-2006, 12:36 PM

:)

Hi folks,

EGO ..... positive news comes in, as DCA #7 is rigged
up to spud Dune-1, on 20042006 ..... !~!

Already a small oil producer, any production from this
well should underpin forward operations, but it will
take a lot of good news to move the price, due to
the HUGE number of shares on issue .....

...... could still turn out to be a good trading stock
for scalpers, in the weeks ahead ..... ???

happy trading

yogi

:)

kr1zh

5th-May-2006, 10:47 PM

24.6 million shares was changing on hands today.....

currently drilling at 212 m at CARNARVON basin.

any prediction?

yogi-in-oz

9th-May-2006, 12:54 PM

:)

Hi folks,

EGO Enters into Farmin Agreement with Asia Pacific Energy

EGO ..... starting to get their act together
now and it is likely to be a slooooow recovery,
with so many shares on issue .....

..... but, it is a micro oil producer, with a current
drilling program, so it does have some POTENTIAL,
as a trading stock ..... :)

happy days

yogi

:)

jonty

10th-May-2006, 06:00 PM

Huge Volume today,
Broke the .01 level and hopefully will move even higher...

yogi-in-oz

6th-June-2006, 01:08 AM

:)

Hi folks,

EGO ..... expecting good news, around
06-07062006 ..... :)

happy days

yogi

:)

yogi-in-oz

19th-July-2006, 11:42 AM

:)

Hi folks,

Both MOS and EGO are negotiating on ADS
Rig 6 on opposite ends of the country ..... :)

"Mosaic Oil, Ausam Resources Pty Ltd and
Sunshine Gas Ltd have entered into a rig
sharing agreement for the use of the
Australian Drilling Services (ADS) Rig 6. It is
anticipated that the rig will be available to
Mosaic in mid-August 2006 to drill in PL
119/Bainbilla Block (Farmin area) in
southeast Queensland. "

-----

"Empire is negotiating with drilling contractor,
Australian Drilling Services to contract Rig 6
to drill the Stokes Bay-1 well before the
onset of the Kimberley wet season this year."

-----

With MOS-Ausam-SHG consortium in a rig
sharing agreement, it may be a long while
yet, before EGO actually has use of that rig ... ???

happy days

yogi

:)

Ken

7th-December-2006, 11:11 PM

I think its fair to say EGO Empire Oil is anything but....

yogi-in-oz

8th-December-2006, 01:13 AM

:)

Hi Ken,

EGO ..... is running out of time to make an impression,
this year ... but, there's a few positive cycles left in
December 2006:

13122006 ..... minor news expected

15122006 ..... another minor cycle here.

18122006 ..... minor cycle

22122006 ..... strong rally (?)

28122006 .... positive spotlight onEGO

Early
Posted - 21/11/2006 : 04:06:24 AM Show Profile Reply with Quote
:)

Hi folks,

PYM ... despite today's rally, not totally convinced that
we will not see some more negativity, soon ???

..... and looking ahead:

28-29112006 ... major negative cycle expected here

04122006 ... negative news espected.

07122006 ... minor

18122006 ... 2 difficult cycles here.

29122006 ... positive cycle here - fincance-related ... ???

12-15012007 ... expecting positive news, as a positive spotlight
shines on PYM, again.

24012007 ... minor and finances ...

happy dayz

yogi

:)Posted - 21/11/2006 : 04:06:24 AM Show Profile Reply with Quote
:)

Hi folks,

PYM ... despite today's rally, not totally convinced that
we will not see some more negativity, soon ???

..... and looking ahead:

28-29112006 ... major negative cycle expected here

04122006 ... negative news espected.

07122006 ... minor

18122006 ... 2 difficult cycles here.

29122006 ... positive cycle here - fincance-related ... ???

12-15012007 ... expecting positive news, as a positive spotlight
shines on PYM, again.

24012007 ... mino and finances ...

28122006

happy dayz

yogi

:)

Trader Paul

28th-June-2007, 04:58 AM

:)

Hi folks,

EGO ... a big rickshaw doji formed by Wednesday's price action,
leading into two positive time cycles, over the next couple of days .....

..... and some significant positive news expected, on 29062007 (???)

happy days

paul

:)

=====

Sweet Synergy

26th-July-2007, 11:57 AM

Massive volume this morning! (currently the 2nd most traded share today) The Daily chart shown is breaking a downward resistance line .... could be a nice move :-)

Sweet Synergy

26th-July-2007, 12:00 PM

Massive volume this morning! (currently the 2nd most traded share today) The Daily chart shown is breaking a downward resistance line .... could be a nice move :-)

Sweet Synergy

26th-July-2007, 12:28 PM

Massive volume this morning! (currently the 2nd most traded share today) The Daily chart shown is breaking a downward resistance line .... could be a nice move :-)

Sorry posted this in the EGO thread as well so forgot to add code ....

kennas

26th-July-2007, 12:53 PM

Sorry posted this in the EGO thread as well so forgot to add code ....If this breaks 9 then put your granny's house on it!!! When it break 1c sell both your wife's kidneys and put them on it. When it breaks 1.2 cents, you'll be really old....LOL ;)

Seriously though, they are about to be involved in a significant drilling campaign, and if it comes off, could seriously re-rate the company. Check ARC thread for detail.

Here's an assessment of what it might be worth to them:

UPKA

27th-July-2007, 04:06 PM

one of the few ones heading north on a day like this. still trading at high volume, broke its sideway trend. expecting drill results soon, so lots of upside on this one.

kevinecom

28th-July-2007, 12:14 PM

Sweet Synergy

28th-July-2007, 08:52 PM

Hi Kennas, Thanks for your info ... the fundamentals on this are interesting

.... but "seriously"! > Amazing what some massive volume can do hey .... EGO did break 1c very nicely within 24hrs. Looks like you will be selling my "husbands" kidneys lol ;)

P.S. (I think it will likely happen before I'm really old) I'd like to see volume similar to thur or fri .... and possibly a little consolidation first .... if I was to enter this as a new trade.

Cheers :)

kennas

29th-July-2007, 02:45 AM

Kennas,
Just a quick question, what do you think of stock analysis? I'm thinking of subscribingKevin, I'm not signed up, I got this off FAR's web site I think. Maybe ARC. So, can't comment.

Hi Kennas, Thanks for your info ... the fundamentals on this are interesting

.... but "seriously"! > Amazing what some massive volume can do hey .... EGO did break 1c very nicely within 24hrs. Looks like you will be selling my "husbands" kidneys lol ;)

P.S. (I think it will likely happen before I'm really old) I'd like to see volume similar to thur or fri .... and possibly a little consolidation first .... if I was to enter this as a new trade.

Cheers :)Quite surprised that this ended at 1 cent again actually. Maybe it has broken the .007 - .008 range? If the Valentine/Stokes drilling ends in tears then this will go back to the dust bin. If there's some O&G about, then this should do rather nicely, as will the other partners.

(holding EGO and FAR)

kennas

30th-July-2007, 11:18 AM

If this breaks 9 then put your granny's house on it!!! When it break 1c sell both your wife's kidneys and put them on it. When it breaks 1.2 cents, you'll be really old....LOL ;)

Seriously though, they are about to be involved in a significant drilling campaign, and if it comes off, could seriously re-rate the company. Check ARC thread for detail.

Here's an assessment of what it might be worth to them:My wife's kidney's are gone. :(

Probably a breakout now, trading at 1.2...

Not sure if this has any legs, but it's certainly unusual in a bearish environment. Gotta be due to the Valentine/Stokes Bay drilling due to commence next month, but the partners aren't moving. :confused:

If this holds above 1.1 EOD then should be moved to outstanding breakout thread probably.

woksta

30th-July-2007, 02:21 PM

Yeah big buyers are building nicely. Was lucky to pick up a small parcel last Friday when it dipped to 0.9c. Starting to make some noise on Hotcopper so won't be at these levels for long imo.
Yeah Kennas FAR, EMR et al are all flat today. Maybe people realising EGO provides the best leverage out of the Canning Basin group.
Thanks for your analysis btw, made me sit up and take notice :)

moneymajix

30th-July-2007, 02:39 PM

I am thinking after recent increases in EGO maybe EMR (which has declined) may now provide more leverage.

What do others think?

My $ is in EMR.

Congrats to EGO holders.
1.3c, up 30%

Jockstar73

6th-August-2007, 11:34 AM

UPKA

6th-August-2007, 11:56 AM

This stock is gaining momentum ATM, and on a down day, volume mounting and getting gobbled.

Drill results due out by the end of the month (canning basin) so maybe people getting in early. (IMO)

Any thoughts??

large buy orders were put thru behind the scene, looks like institutional buying. hope to see a change in substantial holding in a few days.

doctorj

6th-August-2007, 12:09 PM

If it is solely Canning then, it seems the market isn't interested in the other partners at Valentine/Stokes Bay (ARQ, PCL, EMR, FAR...).

I guess the market is just repricing the leverage more appropriately. It really was a steal for the leverage it offered at 0.007. It's a long way back down if they both finished as dusters. It should be noted that the smaller of the two drills isn't a wildcat but an appraisal well. These tend to relative high success rates (NW Shelf Appraisal wells are at about 50-60% according to the Mining Valuation Handbook) versus about a 8-10% chance for a wildcat. It is worth noting that the Canning Basin is notoriously difficult and hasn't been very forthcoming in the past.

UPKA

6th-August-2007, 12:19 PM

doctorj

6th-August-2007, 12:29 PM

The reason being is that it was a good bet (meaning the risk/reward was very favourable). Whether it still is now the market cap has all but doubled is another issue. The rig is on site and being put together. I guarantee you the instos don't know any more than the market does - there is no way that they know whether or not the drill will be a success. What they have identified is there was a risk/reward opportunity.

kennas

6th-August-2007, 12:35 PM

its true that investors r taking on a lot risk, bt to my knowledge institutional buyers usually dont jump in with huge risk like this. they definately have a better knowledge than us that the value of the stock over weights the risk its taking.I am looking forward to the time you abbreviate the indefinitive 'a', in some way. :p: :confused:

Or, maybe you could just add one or two more letters to your posts....:rolleyes:

zt3000

6th-August-2007, 02:26 PM

Up to 0.017 ... i almost miss typed and put 0.17 ... lol now that would have been nice :)

Any ideas on where this is heading ... pretty strong push on an off day ... no news since the quarterly on 26th.

A lot of shares on issue though ... but its all relative ... when it starts to get close to 10c then i think the number on issue will become important ... DYOR

moneymajix

6th-August-2007, 04:07 PM

Ann.

Placement at .08c

As someone said - ego deflating - 1.3c

Hmm.

So was that some kind of pump?

kennas

6th-August-2007, 04:22 PM

I sold at 1.1....Poor me!! Damn it! :banghead: The spec potential is still there with Stokes Bay and Valentine. If it's a duster though....ouch, I feel. Will be interesting to see the action over the coming days. Still might be potential for a trade, or an investment. Good luck all!!

Jockstar73

6th-August-2007, 04:25 PM

It is a placement that is conditional on shareholder agreeing on other issues at the AGM next month.... so it is not a done deal yet.....

doctorj

6th-August-2007, 04:37 PM

moneymajix

6th-August-2007, 04:48 PM

Doctorj

Thanks for your comments.

As EGO will have more shares on issue with the placement it might seem that EMR is even more attractive re Canning Basin exposure.

Cheers

doctorj

6th-August-2007, 04:49 PM

Have you done the comparison? Bare in mind EMR reduced its interest in the drill since Strachan put out his initial research.

moneymajix

6th-August-2007, 05:01 PM

Doctorj

You are too good! Thanks for your information.

I am sure we will take on board.

Cheers

123enen

6th-August-2007, 05:17 PM

A lot of jnr oilers do placements when they run up in the lead up to a drill - it allows them to raise money and reduce dilution for long term holders. In the long run its good management. It's unfortunate that people enlarge didn't take some money off the table this afternoon, but they may still get lucky with Stokes Bay/Valentine.

Yes I wish I had taken money off the table.
If the motive was to minimise dilution the company would not have placed at .008. The price has been around .008 for almost 18 months!!

doctorj

6th-August-2007, 05:30 PM

Placements are usually done at a discount to the market price. Had the price been sitting at 0.007/8 they would have done the placement at 0.006 or less. The fact that the price has spiked has allowed them to do the placement a little higher, but really, they couldn’t have gone much higher than they did – even more so given how the market has been the past week.

moneymajix

6th-August-2007, 06:34 PM

Doctorj

A personal question.

Are you a real doctor?

If so, it that a stock doctor or some other kind of doc?

:)

doctorj

6th-August-2007, 11:04 PM

Also, I believe the targets were revised downward since the first published Strachan research. On the other hand, not entirely sure what the revision means given no new drilling/seismic etc was done in the interim. Perhaps someone looked at the trap on a different angle and rejigged the maths? Anyway offshore appraisal wells in Australia seem to have 50-63% success rate and exploration wells 6-27%. As I said, the Canning Basin has been difficult in the past, so consider using the lower ends of those bands for your analysis. Strachan has used 12% and 6.7% for his analysis.

zt3000

7th-August-2007, 12:01 PM

Speeding ticket :D

It had to happen lol

But they gave a pretty big response as if they where trying to hide something or i don't know ... the mentioned a few things several times...

Will be interesting to see how things play out next couple days/weeks.

zt3000

7th-August-2007, 01:42 PM

Drilling Updates!

"ARC’s mapping of the Valentine Structure at the Virgin Hills Formation
provides for having the potential to have trapped up to 1,091 billion cubic feet of recoverable gas and 19 million barrels of condensate at the P10 Level"

JV with ARC ...

1 TCF of Gas Aprox = $5 based on current gas prices

EGO has 14.8% interest.

Conservativly they strike 25% of estimated reserve ... thats 250 BCF ie $1.25 to SP

Therefore EGO's interest would be say 14% of that minus costs say 5% conservativly. Gives EGO 0.05*1.25 = 6c SP

Should they stike the estimated value 1TFC and EGO retains all of its 14.8% that gives SP 0.74c minus development costs.....

and this is only the GAS element ... add on any oil they recover

can someone verify this ... it sounds too good to be true ... thanks

Jockstar73

8th-August-2007, 02:06 PM

Clarification on recent ann..

Incase you havn't seen this yet.... Hmmmmmm price should head north again now.(IMO) this is a pretty significant typo !!

RE: CLARIFICATION OF THE ANNOUNCEMENT OF THE EMPIRE OIL & GAS N.L.
SHARE PLACEMENT PRICE MADE TO THE ASX ON 6 AUGUST 2007
The Directors of Empire Oil & Gas N.L. agreed, on Friday 3 August 2007, to appoint South
Pacific Securities Pty Ltd to place 287,000,000 shares in Empire at an issue price of 0.8 cents
per share (and not 0.08 cents per share as previously announced) to raise $2,296,000 with
investors who qualify under one of the exemptions in Section 708(8)(c) of the Corporations Act.

surfingman

8th-August-2007, 02:19 PM

Pommiegranite

8th-August-2007, 03:45 PM

Can any of you offer an explanation as to what's going on with this SP?

i.e a lot of churning at 0.015 cents..and a lot of buy/sell orders either side.

Is this prelude to something?

UPKA

8th-August-2007, 03:49 PM

Can any of you offer an explanation as to what's going on with this SP?

i.e a lot of churning at 0.015 cents..and a lot of buy/sell orders either side.

Is this prelude to something?

its js day traders getting in n out i reckon, at these prices, each price movement is abt 6% profit, thats why there r so many buyers n sellers on both sides of the market.

UPKA

8th-August-2007, 04:07 PM

http://www.news.com.au/business/story/0,23636,22209469-31037,00.html

The top traded stock by volume was Empire Oil & Gas with 66.1 million shares together worth $991,209 changing hands. Its shares rose 0.2 of a cent to 1.5 cents.

you can never have enuf free publicity, :D i think there r plenty of eyes watching this one already, who knows where we'll be if we do hit something in a mth's time!

zt3000

8th-August-2007, 04:33 PM

UPKA

8th-August-2007, 04:37 PM

Wawawewah .. Close at 1.7c :D Very nice

I cant figure this one out those ... for all we know tomorrow it will be back at 1.3c ... :banghead:

Would like to see this one run past 2c ... will be interesting to watch non the less

if it does get back down to 1.3c, I'll top up, according to the stock analysis' report, the valentine project value it at 20c+, even if we take 10% of such value running up to the completion of the drill, thats 2c! so we'll probably see 2c very very soon!

bhutos

8th-August-2007, 04:46 PM

if it does get back down to 1.3c, I'll top up, according to the stock analysis' report, the valentine project value it at 20c+, even if we take 10% of such value running up to the completion of the drill, thats 2c! so we'll probably see 2c very very soon!

Had to settle for 1.5 today, I'll definitely be buying back in if it comes back to 1.3.. I'm only really playing with this though so i'll be holding come oil or come dust to make it interesting.

black_bird2

8th-August-2007, 05:34 PM

Although another good volume day, looking at Stockness it doesn't appear to be big players making the moves, but obvious interest holding over the past couple of weeks! Holding on to this one and waiting results after the drill like others.

zt3000

8th-August-2007, 06:01 PM

if it does get back down to 1.3c, I'll top up, according to the stock analysis' report, the valentine project value it at 20c+, even if we take 10% of such value running up to the completion of the drill, thats 2c! so we'll probably see 2c very very soon!

Where did u find this 20c+ valuation? Can u point me in the right direction cheers :)

I dont like this min 100 character rule ... i have to elaborate with a waste of text just so i can post something .. :banghead:

UPKA

8th-August-2007, 06:35 PM

Where did u find this 20c+ valuation? Can u point me in the right direction cheers :)

I dont like this min 100 character rule ... i have to elaborate with a waste of text just so i can post something .. :banghead:

doctorj pointed out a broker report shown on FAR's website:

http://www.far.com.au/research/

its the first one, bt thats the full value of the estimated gas n oil reserve, so i think its a wild guess...

zt3000

9th-August-2007, 10:34 AM

Up to 2c today! Where is this heading?? Looks like North and with avengance ha ha. Will be interesting to see if there is substance to this or just hype.

black_bird2

9th-August-2007, 10:52 AM

Appeared to hit resistance at 2c. If it keeps going at it's current rate for the month, DrJ will be happy come the stock tipping results!! Nice start to the month.

UPKA

9th-August-2007, 10:59 AM

Appeared to hit resistance at 2c. If it keeps going at it's current rate for the month, DrJ will be happy come the stock tipping results!! Nice start to the month.

I dont see the 2c as a significant resistance, the 1.9c was taken out with 2 huge orders worth around $600k+, seems like accumulating to me. This is a very risky project. with huge buy orders seen over the last couple of weeks, looks like the investors r very confident, its a good sign!

jtb

9th-August-2007, 11:00 AM

Up to 2c today! Where is this heading?? Looks like North and with avengance ha ha. Will be interesting to see if there is substance to this or just hype.

Not wanting to rain on anyones parade but if we remember that after the latest placement EGO will have about 2.3 BILLION shares on issue!!!!!!!!!!!!!! - 2c puts their MC @ approx $50 million up from $15mil' only a couple of weeks ago.
Considering rough range is just about knackered thats a fair premium simply on the upcoming Canning drill:confused:

Don't get me wrong I'm as big a canning bull as anyone but I can see a lot of newbies getting fried on this due to the low entry price.

It pays to be lairy of companies who's admin expenses exceed their exploration:sly:

doctorj

9th-August-2007, 11:02 AM

DrJ is quite happy as he bought a little while back at $0.007 but would be much happier if FAR started moving as well. :)

UPKA

9th-August-2007, 11:06 AM

Not wanting to rain on anyones parade but if we remember that after the latest placement EGO will have about 2.3 BILLION shares on issue!!!!!!!!!!!!!! - 2c puts their MC @ approx $50 million up from $15mil' only a couple of weeks ago.
Considering rough range is just about knackered thats a fair premium simply on the upcoming Canning drill:confused:

Don't get me wrong I'm as big a canning bull as anyone but I can see a lot of newbies getting fried on this due to the low entry price.

It pays to be lairy of companies who's admin expenses exceed their exploration:sly:

Interesting point there, jtb do u know the total number of shares on issue? there r more holders than sellers, all expecting something positive... i cant imagine wat would happen if its a duster...:eek:

zt3000

9th-August-2007, 11:08 AM

zt3000

9th-August-2007, 11:10 AM

Interesting point there, jtb do u know the total number of shares on issue? there r more holders than sellers, all expecting something positive... i cant imagine wat would happen if its a duster...:eek:

UPKA ... there's always the strategy buy on rumour and sell before the facts come out haha ... but then again ... is that any fun? :D

doctorj

9th-August-2007, 11:14 AM

We can probably eliminated the possibilty of EGO's SP movement due to valentines prospect ... non of the other JV partners have moved significantly or at all ... although we may assume that EGO is now attracting investors and is being re-rated ... who knows

I disagree ZT. EGO's leverage far exceeded that of the other parties and therefore was probably not priced appropriately. It's probably still close to the cheapest entry for the drill. Also, I believe that they have significant interest in adjacent blocks that you can reasonably expect to be considerably more valuable should either or both of these drills discover commercial hydrocarbons (and given the previous lack of success in the Canning were probably assigned a very low value by the market). AFAIK, with the exception of ARQ, none of the other parties have significant interest in the Canning.

jtb

9th-August-2007, 11:40 AM

"DrJ is quite happy as he bought a little while back at $0.007 but would be much happier if FAR started moving as well".

Good on ya mate, yes FAR is a lesson in patience isn't it- last April seems
oh so long ago:o

Bailed out a little while ago myself.

UPKA They had about 2 billion shares (1.9 something anyway) prior to the last placement of 230 mill' and they have around 40 mill' options from memory.

zt3000 "We can probably eliminated the possibilty of EGO's SP movement due to valentines prospect ... non of the other JV partners have moved significantly or at all ... although we may assume that EGO is now attracting investors and is being re-rated ... who knows "

Hope so mate- prime candidate for HC hysteria if you ask me.
If not the Valentine prospect why would it be re-rated????

Did anyone know that old mate (MD) Craig is actually the son of the journalist who's report originally sparked the oil rush in WA in the 60's?
The first on-shore hole drilled for oil in the state came up with the goods (rough range) :)

bhutos

9th-August-2007, 11:41 AM

I disagree ZT. EGO's leverage far exceeded that of the other parties and therefore was probably not priced appropriately. It's probably still close to the cheapest entry for the drill. Also, I believe that they have significant interest in adjacent blocks that you can reasonably expect to be considerably more valuable should either or both of these drills discover commercial hydrocarbons (and given the previous lack of success in the Canning were probably assigned a very low value by the market). AFAIK, with the exception of ARQ, none of the other parties have significant interest in the Canning.

Hi, the intersuisse tuesday morning note stated that EMR had Canning tenure in its own right - is it just far less than EGO and therefore not significant? Also you mentioned that EMR reduced it's share in the drill - the note still had EMR at 18.8% - do you know how much it was reduced by?

jtb

9th-August-2007, 11:49 AM

I disagree ZT. EGO's leverage far exceeded that of the other parties and therefore was probably not priced appropriately. It's probably still close to the cheapest entry for the drill. AFAIK, with the exception of ARQ, none of the other parties have significant interest in the Canning.

Gee whiz Dj they've only got 2% more than EMR: plenty to go round don't you reckon confused:........................

doctorj

9th-August-2007, 11:52 AM

jtb

9th-August-2007, 12:15 PM

Talking discovery value per share relative to their current share price, not just the equity they have in the drill.

Having another look at the numbers EMR may be the cheapest entry now, depending on how much they reduced their interest and how many new shares EGO have announced they'll issue.

12.75% compared to EGO's 14.8%
Hopefully apples for apples I'll see EMR run to comparable MC on Canning then (40c - sweet:D) and then we can all be happy:)

Gotta go to bed.

Best of luck all

surfingman

9th-August-2007, 02:22 PM

Just watching this one at the moment about 10mil got purchased in 1 buy @ 1.9 will be interesting to see where this one ends up.

UPKA

9th-August-2007, 04:02 PM

Just watching this one at the moment about 10mil got purchased in 1 buy @ 1.9 will be interesting to see where this one ends up.

Interesting day today, it broke the previous record in volume. getting hotter nearing the completion of the drill, but i dont see support anywhere, dont u guys think its running far too quick?

zt3000

9th-August-2007, 04:02 PM

over 300 million shares at almost 900 trades ... does anyone know whats going on here? Thats some nice volume ...

UPKA

9th-August-2007, 04:10 PM

over 300 million shares at almost 900 trades ... does anyone know whats going on here? Thats some nice volume ...

900 trades.. half of that probably came from day traders... but there r large buy orders, and looks like accumulation to me...

moneymajix

9th-August-2007, 07:25 PM

So EGO closes at 2.2c.

The other players in this story have done very little so far - PCL, FAR, EMR...

Makes me wonder why and how much of the EGO action was daytraders and how much, if any, was accumulation.

Any comments appreciated.

How important is the .008c placement on the share price?

Thanks in advance.

rub92me

9th-August-2007, 08:29 PM

zt3000

10th-August-2007, 11:52 AM

Well, I think you've already answered the question by providing the comparison; 99% caused by opportunistic traders imo. If anything, the 'smart' money bought before this and is more likely to be selling than accumulating at this stage...:2twocents

Well i think todays performance so far has blown your theory out the water .... on a shocker of a day for the markets EGO is up 10% ... currently 2.4 ... im stunned :eek:

oh well ... we can only imagine what it would have done on a positive day ... roll on monday

Pommiegranite

10th-August-2007, 11:58 AM

Well i think todays performance so far has blown your theory out the water .... on a shocker of a day for the markets EGO is up 10% ... currently 2.4 ... im stunned :eek:

oh well ... we can only imagine what it would have done on a positive day ... roll on monday

Does anyone have any theory as to why we are seeing 20% gains on a daily basis. I've looked at the fundamentals..and just don't get it.:confused:

Is it 'mania'?

moneymajix

10th-August-2007, 11:59 AM

Absolutely fabulous effort by EGO.

2.7c.

Congrats to all holders.

LOL.

zt3000

10th-August-2007, 12:00 PM

2.7 now ... selling depth GONE ... this thing will most like move like a bullet ... is anyone following this?

black_bird2

10th-August-2007, 12:34 PM

I got in at 1.4c and have enjoyed the comfortable sailing so far. Saw Bigdog's morning news and thought that I had missed timed the time to sell, however, when I got back to my desk (10 mins ago) I was gob smacked at today's stellar effort. Watching for the ride to end :D

jtb

10th-August-2007, 12:48 PM

Does anyone have any theory as to why we are seeing 20% gains on a daily basis. I've looked at the fundamentals..and just don't get it.:confused:

Is it 'mania'?

Mate I think its purely hotcopper penny stock of moment.

At this price it has an equivalent market cap of my darling oiler OEL and also NWE to mention only two.
The assets and cash of both SHOULD place them miles above this level:confused:

As it is only priced on exploration upside there can be no rational explanation.

Compare it to FWL @ 90c, CUL @ 19c or CVN @ 28c recently

The herd is a wonderful thing:)

Take it anyway you can get it:cool:

UPKA

10th-August-2007, 12:50 PM

Does anyone have any theory as to why we are seeing 20% gains on a daily basis. I've looked at the fundamentals..and just don't get it.:confused:

Is it 'mania'?

there r very few sellers. when there is, usually its a large dump, probably by day traders. but majority of the ppl r accumulating and holding for the news, i profit took a lil, now waiting for the result with the rest...:)

Pommiegranite

10th-August-2007, 01:00 PM

zt3000

10th-August-2007, 01:12 PM

Mate I think its purely hotcopper penny stock of moment.

I was under the impression that HC is not the best place to get info? So if this was true then why would people go there and listen?

bhutos

10th-August-2007, 01:13 PM

I bought a juicy top us parcel this morning at 0.018/0.019 and just sold at 0.026. It means I am well and truly freecarrying EGO.

I moved my profits into EGO's JV partner EMR, after comparing Market Caps & Equity Stakes in the project.

It seems now EGO have a $50 mill Market Cap
and EMR have a Market Cap of $17 million.

but they both have similar stakes in the project!!!!!!!!!!

Yeah it's been strange to watch EMR stand still. I put more on it as they appeared a little more diversified and have a series of drillings into the first quarter of '08. I should have bought more EGO yesterday.. I only bought a pittance at .015 basically rouletting for a strike.

necrotic

10th-August-2007, 03:41 PM

Just maybe, is this a T/O in the making? We should know early next week when any substantial holder notice would have to be released.

Pommiegranite

12th-August-2007, 02:57 PM

Using the out of date StockAnalysis matrix of the Valentine project, I have updated it with:

1. Fully Diliuted Current Market Caps, including recents placement, with the assumption that excercies of options is already factored into the SP.

2. New adjusted and non-risk adjusted leverages and cps values.

Please note that I have not changed the StockAnalysis' Targets, Oil/Gas values, or the 6.7% risk factor (Do not know where Strachan got that from).

Please feel free to tinker with the formulae/correct any errors and repost the spreadsheet.

Of course, it goes without saying that each company's other drill targets need to be looked at when viewing the downside on the company, should Valentines day be a none event.

Bottom line, if successful Valentine will be a company maker for the 4 smaller partners, with Emerald giving the biggest % gains from the current SP.

Cheers

123enen

12th-August-2007, 03:57 PM

Please feel free to tinker with the formulae/correct any errors and repost the spreadsheet.

Cheers

Have a second look at the "Discovery Value (Gas)" formula.
I think you have used wrong cell references.

Pommiegranite

12th-August-2007, 04:09 PM

Have a second look at the "Discovery Value (Gas)" formula.
I think you have used wrong cell references.

Thanks 123enen. Twas a silly mistake:o.

I've corrected it now. Still the ratios between the partners remains the similar.

zt3000

13th-August-2007, 12:39 PM

Commencement of the Empire Oil & Gas N.L. Canning Basin
exploration programme with the spudding of the Valentine-1 exploration well.

Let the roller coaster begin! :D

zt3000

13th-August-2007, 12:55 PM

Another Announcement!!!

ARC`s Canning Basin Exploration Program Commences!

up to 3.3 now ... good buying coming through now

LetsGetRich

13th-August-2007, 05:37 PM

zt3000

13th-August-2007, 05:50 PM

What a day!!!

Closed @ 0.035

Approx 599 Million in Volume!
40% Gain

Some how with the momentum it has, it can get to 0.100 in 4 weeks...??!??
Too bad I didn't buy early. :(
But will try to get some tomorrow. :rolleyes:

If it reaches 10c thats a market cap of $200 million ( i think, 10c * 2 billion shares on offer).... with no discovery nothing ... i'd say this stock is more hype than substance at the moment ... i dont know i could be wrong .. we all are at some stage

Go Nuke

13th-August-2007, 05:53 PM

What a day!!!

Closed @ 0.035

Approx 599 Million in Volume!
40% Gain

Some how with the momentum it has, it can get to 0.100 in 4 weeks...??!??
Too bad I didn't buy early. :(
But will try to get some tomorrow. :rolleyes:

Will you try tomorrow??
I am kicking myself for chasing EGO and trying to get it at .011 last week, but im WAY to scared to buy in now.EGO's share price has got to come back to earth soon!
Knowing my luck if i bought tomorrow, the share price would about face on me:rolleyes:
I chose IMI instead because at least they have a product.
EGO was a bit too speculative for my liking by the end of the day:)
But well done to those that bought in early!
Up nearly 200% in the stock competition!

Joe Blow

13th-August-2007, 06:03 PM

Some how with the momentum it has, it can get to 0.100 in 4 weeks...??!??

LetsGetRich,

I notice this is your first post, welcome to ASF.

Just so you know we have a policy on people posting price targets that you should probably review fairly closely before posting further. You can find details of this policy here: http://www.aussiestockforums.com/forums/showthread.php?t=4118

In short, any posted price target must be supported by either some kind of technical or fundamental analysis of the stock. They cannot simply be plucked out of thin air. I know it is tempting to post price targets but unless they can be backed up with a convincing argument they really serve no useful purpose.

LetsGetRich

13th-August-2007, 06:29 PM

Hmm, I can't edit or delete the post. You can do that for me, sorry about it.
:o

So the price it is at today is the most likely the peak?

LetsGetRich

13th-August-2007, 06:37 PM

Will you try tomorrow??
I am kicking myself for chasing EGO and trying to get it at .011 last week, but im WAY to scared to buy in now.EGO's share price has got to come back to earth soon!
Knowing my luck if i bought tomorrow, the share price would about face on me:rolleyes:
I chose IMI instead because at least they have a product.
EGO was a bit too speculative for my liking by the end of the day:)
But well done to those that bought in early!
Up nearly 200% in the stock competition!

If the price looks good, I might buy just very very little. I think it is very high risk but high return.

I am actually more keen on EMR as other members are discussing it in the EMR Thread. But with my funds stuck in IMI, no time soon to stock any EMR up.

I don't think there is an IMI thread.

pennydreadful

14th-August-2007, 01:18 AM

Is EGO a takeover target at the moment? why is the price rising so rapidly i can't work out why lol

doctorj

14th-August-2007, 01:21 AM

Is EGO a takeover target at the moment? why is the price rising so rapidly i can't work out why lol
Probably not a takeover target... consolidation is due in the industry but given the % of their market cap that has turned over this month already (FAR in excess of the % that would trigger a significant holder notification), my money is it is likely due to a combination of momentum traders and people repricing their leverage to the Perth Basin.

Wysiwyg

14th-August-2007, 01:30 AM

Is EGO a takeover target at the moment? why is the price rising so rapidly i can't work out why lol

I got a wee story there penny...my bro. gives me a phonecall from `up that way in W.A.` at .019 and says get on they are hot.Looked at the chart and thought nuh...hospital pass there.(with all markets falling)I`ll let them go.Come home today and saw them at .034 :eek: and the rest is history.Never can tell what will happen tomorrow hey lol.:p:

zt3000

14th-August-2007, 10:46 AM

:eek::eek::eek::eek::eek: Any of you witnessing this?

4.9 and still going ... some large orders too ... this is crazy

bhutos

14th-August-2007, 10:51 AM

5.9c Congrats to anyone thats still in it. I'm flabbergasted. I know there are all the HC rampers but seriously.

Craze0123

14th-August-2007, 10:52 AM

omg there is no sign of stopping this (till ofc the dump happens) but there is no resistance at all.....

Yeti

14th-August-2007, 10:54 AM

:eek::eek::eek::eek::eek: Any of you witnessing this?

4.9 and still going ... some large orders too ... this is crazy

You bet I'm watching! It's a beautiful thing! This is the most exciting stock I have ever owned by far!

black_bird2

14th-August-2007, 10:57 AM

Holy Cow lads. I had a sell set yesterday at 0.042 with the thought that it might make 0.045 but I am gob smacked at today's rally so far. It has been a nice ride and heeding Pommie's signature I got out. What a stellar run.

vert

14th-August-2007, 10:57 AM

amazing stuff, never seen this before, made some nice cash
dump has started hope they all flow into Emr now :D:D:D

zt3000

14th-August-2007, 11:01 AM

Theres the dump ahahh back we go to 4.8c ... it had to happen .. i was watching the depth update and it was insane ... no sellers so it kept getting bought up ... now we have people in losing positions who have to decide what to do with them

Yeti

14th-August-2007, 11:09 AM

This is extraordinary. EMR going down, EGO continuing to go up. Are people in EMR panicking, thinking they are missing out and selling to get into EGO?

Somebody come and tie me up please, can't keep my hands off the sell button. Decided I was going to sit tight on this one but it's not easy :)

macca

14th-August-2007, 11:09 AM

Gee, it is a long time since I actually caught one as sweetly as this :D

Bought these in the closing auction of the last day it was 10c on the 27/7

Took my money and a 20% profit out at 3c, I have got 60% of my original purchase as a free carry for the ride.

Unbelievable :eek:

chicken8

15th-August-2007, 09:52 AM

UPKA

15th-August-2007, 09:54 AM

14/08/2007 6:01PM Change of Director`s Interest Notice - Appendix 3Y

one of the directors sold all of his shares except for 19,000

do you think this means he thinks the stock is overvalued? does he not have faith in the project?

i think he's js doing a bit of profit taking himself. he still holds 16m options, prob EGO is over bought now at these price levels.

GOSAFAS

15th-August-2007, 12:09 PM

Can anyone confirm rumours going around about "dry" well? Very concerned .. paid a bit more for these

doctorj

15th-August-2007, 12:35 PM

Can anyone confirm rumours going around about "dry" well? Very concerned .. paid a bit more for these
To put it bluntly people are full of it. It's around 25 days to target depth at which point they would expect to have intersected the target. Then we'll know if it is dry. Then they'll run wireline logs (or somewhere on the way down to TD) to identify how much pay there's likely to be. Then flow testing and then we might know what it's worth or if it's commerical.
It is a long way below ground people. No one will know any more about the likelihood of success for a couple of weeks.
That said, drilling thousands of feet below ground is risky business and fails more often than than it succeeds.

GOSAFAS

15th-August-2007, 12:43 PM

Fair enough ... lots of rumour mongers around ... doesn't help the general state of the market. Lets hope there'e some light at the end of the tunnel.

UPKA

15th-August-2007, 01:25 PM

Fair enough ... lots of rumour mongers around ... doesn't help the general state of the market. Lets hope there'e some light at the end of the tunnel.

as expected, EGO was overheated, ppl r buying up without valuation on the risks involved in these kinda of drills. now probably a few of them r either got scared of the XAO pull back, or finally realise the risk they r taking.

emily

15th-August-2007, 01:49 PM

it was bound to fall sooner or later....good open and high for they day though....
just like to know, anyone in this one for the long term ??

UPKA

15th-August-2007, 01:52 PM

it was bound to fall sooner or later....good open and high for they day though....
just like to know, anyone in this one for the long term ??

it will only rebound if investors still stick with them, if the market does recover, may be alot of them will jump towards EMR. EGO had its run, prob moving away for EMR now. and by the look of things, most buyers r holders for the valentine result.

Yeti

15th-August-2007, 02:43 PM

it was bound to fall sooner or later....good open and high for they day though....
just like to know, anyone in this one for the long term ??

Yes I'm still in this and intend to hold long. EGO has an exciting exploration year ahead of it. But if it does anything like it did yesterday again I will take some profits and try to buy back in again at a lower price.

jama_kj

15th-August-2007, 07:12 PM

check out this announcement by Arc - looks like they're confident

ASX ANNOUNCEMENT
Wednesday 15 August 2007
The Canning Basin exploration program ARC’s up
ARC announced on Monday 13 August the spudding of the Valentine-1 exploration well near
Derby in northwest Australia’s Kimberly region. Valentine-1 marks the start of a major oil and
gas exploration program in one of the most under-explored Palaeozoic aged basins in the
world – the Canning Basin.
ARC has rapidly established holdings in excess of 75,000 square kilometres in the Canning
Basin, giving it by far the largest acreage position in the Basin. ARC’s holdings include a wide
variety of geological play types, with more than 30 prospects and leads already identified with
very significant potential for substantial quantities of both oil and gas.
ARC’s interest in the Basin was sparked by its similarities to other Palaeozoic basins around
the world where prolific reserves of oil and gas have been discovered. Furthermore, the
factors that had previously made exploration in the Basin difficult have now been largely
overcome. ARC is now initiating the re-evaluation of the Basin with the spudding of Valentine-
1.
The Valentine-1 well is targeting a large gas-condensate prospect. It is the culmination of the
last 12 months of work by ARC to establish its commanding acreage position in the Canning
Basin, review and re-evaluate massive volumes of geological and geophysical data, identify a
series of high quality prospects and put in place the logistics for the start of a major exploration
program.
Commercial Potential
Exploration in the Canning Basin has historically been hampered by the region’s remoteness
and lack of infrastructure. However, the rapid development of the northwest has seen the
infrastructure put in place to facilitate modern and effective exploration and production of oil
and gas in onshore northern Australia. This has been amply demonstrated by the successful
and profitable production and export of oil from the Blina Field (now 100% owned and
operated by ARC).
ARC’s proven early production system for oil, developed and demonstrated by the company in
the Perth Basin, will allow even small volumes of oil discovered in the Canning Basin to be
quickly commercialised. For larger discoveries, ARC’s early production system will allow
immediate cash flow to fund the costs of a full field development.
The development of gas from the Basin will be underpinned by the gas sales contract with
Alcoa that ARC has already put in place. The existence of a firm offtake agreement with such
a significant customer will allow even modest gas discoveries to be rapidly developed.
Furthermore, the continued strengthening of the market for natural gas means gas falling
outside the contract with Alcoa will find a ready market.

doctorj

15th-August-2007, 07:23 PM

Doesn't really say anything. They more than likely wouldn't be drilling it if they didn't think it was a decent chance (on a risked basis). Just means they've started drilling.

jama_kj

15th-August-2007, 07:55 PM

haha yeh on re-reading it i agree. prob was trying to read into it what i wanted to read about the drilling. although the fact that Arc has "rapidly" acquired tenements in Canning does highlight the potential.

time will tell i guess

chicken8

15th-August-2007, 10:30 PM

http://www.arcenergy.com.au/files/brokerreports/Hartleys%2014%20Aug%2007.pdf

report out by hartley's on the canning basin project

best case scenario, EGO shares are worth 5.5c

Bluesky

20th-August-2007, 05:53 PM

Wow, 5 days without a post in this thread, everyone must've made their money and moved on.

Announcement out after market closed -

The Directors of Empire Oil & Gas N.L. wish to advise that Mr Neil Joyce, a Director of Empire Oil & Gas N.L. advised the Company that Demandem Holdings Pty Ltd, of which he is a Director, has exercised its option to acquire 6.5 million shares in Empire Oil & Gas N.L at the exercise price of 1 cent per share thereby increasing his beneficial shareholding in Empire Oil & Gas N.L.
from 19,231 shares to 6,519,231 shares.
Mr Joyce holds 6.5 million Empire Oil & Gas N.L. options where such options are each exercisable at 1.5 cents to a fully paid ordinary share in the Company. All options expire on 28 November 2010.

morlock

20th-August-2007, 06:13 PM

I'm eagerly awaiting the drilling results. Bring em on. What do you guys think the sp will get to in the short term?

Bluesky

20th-August-2007, 10:35 PM

I'm eagerly awaiting the drilling results. Bring em on. What do you guys think the sp will get to in the short term?

Me too, it's hard to predict with share prices. They have 2 yrs worth of projects. 1st one a few months back didnt find anything.
The current one seems to be getting alot of interest lately so theres a high possibility of success.

So short term and long term looks good imo.

Goodluck

doctorj

20th-August-2007, 10:56 PM

The current one seems to be getting alot of interest lately so theres a high possibility of success.
Non sequitur.

People can talk up the participants in Stokes Bay/Valentine 1 all they want and that doesn't make the chance of finding commercial hydrocarbons any more likely.

The Stokes Bay well is an appraisal well making it more likely (than Valentine which, incidently, is the far larger of the two), but that's because it's a step out from the Pt Torment discovery...

doctorj

23rd-August-2007, 01:21 PM

For those holding through the drill, the listed parties to the JV just announced the drill was about half way to target depth and tracking on schedule.

black_bird2

23rd-August-2007, 02:17 PM

Thank you the good doctor, bit late for this months stock tipping results though! I hold with the rest of us patiently waiting.

binginbarrel

4th-September-2007, 08:51 PM

May have shot myself in the foot.
Looked into EGO then all too quickly hit the buy button at 3.4cents yesterday.
Dropped 14% or so by close today:banghead: but I think if I stand my ground can profit once gas ann is released. Hope it`s very soon, I think it will be.;)

vert

6th-September-2007, 04:25 PM

hang in there bingin, todays action was pretty good i thought and looks like a reversal of the downtrend. bounced of 0.021 and closed above open on 300+ mil. possibly some are getting back in or topping up before announcement.

1234

7th-September-2007, 12:08 AM

Agreed, tomorrow should be fairly healthy.

Buy side looks substantial, and the best it's looked in a week for this time of night..

Late ann would have stopped the majority of any action today.. I actually ignored the ann as I thought it related to the presentations everyone putting out!!

vert

7th-September-2007, 02:26 PM

look out 30 mil just got taken out both lines 0.025 and 0.026 up to 0.027 now and looking promising for a strong close

tech/a

7th-September-2007, 03:53 PM

Trading this short term (technically) myself using VSA software.

Happy to post some price action type charts if any interest.

mickqld

7th-September-2007, 03:58 PM

Trading this short term (technically) myself using VSA software.

Happy to post some price action type charts if any interest.

Always happy to see charts being posted so yes please if you would oblige by postinf a chart or 2. Can I ask what or who is VSA software? :)

vert

7th-September-2007, 04:01 PM

Trading this short term (technically) myself using VSA software.

Happy to post some price action type charts if any interest.

yes please tech/a always like to see how you trade and hope to learn something.
i got in yesterday on the reversal and out just now, t+1 trade for me but i still hold some from last week so i need to see some more up in the price to make profits on that.
cheers (hope the nockers dont get involved in this thread like last time you tried to show your work)

norip_zxy

7th-September-2007, 07:50 PM

is this one fit for trading short term or holding for a long time?

any potential ann gonna out soon?

rub92me

7th-September-2007, 08:40 PM

is this one fit for trading short term or holding for a long time?

any potential ann gonna out soon?
A read through this thread and the EMR thread will give you the answers re pending announcements. If you trade it short term and you lose 30-50 % in a week, that's when you start calling it a long term investment :p:

norip_zxy

7th-September-2007, 09:08 PM

tech/a

7th-September-2007, 09:38 PM

Why would you allow yourself to lose 30-50% of your position?

Speaking for myself on this one,If it does nothing in the not to distant future then I'm out.
If it trades at .020 I'm also out.
Other than that I will be trading this by a 60 min chart using Tradeguiders in house trailing stop mechanisms.
I'll be keeping an eye on the 15 min timeframe as well.

Tradeguider is Volume Spread Analysis software.There are lengthy threads on it over at "The Chartist" if interested.
I'll post shorter term charts from the office tommorow.

Below is the EOD chart. Showing a shake out alert and excellent volume over 2 days.Not ultra heavy but enough to suggest that demand is taking supply.
This is where I decided to take the initial trade.Averaged at .026.

http://i25.photobucket.com/albums/c68/sceptik/EGO.gif

The second thing I do is get an idea where the trade is in relation to its price action.
Is it in a down trend---Yes
Is it in a corrective move which is possibly ending---Possible but not conclusively---Yes.
What is its upside potential---I put this IF all pans out at potentially around 7c.
For this I consult Elliott wave.While reading the very volatile smalls is notoriously in accurate,I think this count makes sence in an Elliott wave count.Many dont,If it didnt I would discard it.
Currently we need the bottom of wave "C" to remain intact for this to be a complete 3 wave corrective move.
Anyway wont bore people with analysis as I know most are fundies.
Here is the EOD Aget (Elliott Wave chart)

http://i25.photobucket.com/albums/c68/sceptik/EGOEW.gif

This is NOT to be interpreted as advice.
Only opinion of my analysis using technical software.
I am Not a licienced advisor,I'm a builder.

1234

7th-September-2007, 11:01 PM

In fact, I bought 800k shares at 2.3c yesterday. And the problem is am hesitating if I should sell these shares to gain $4k or hold it for a potential huge profit.
So I need some advices from u guys professional.:sly:

There is some anticipation on this stock, results due next week (??). All signs are good, but confirmation will send this skyward, again..

It's your cash, but maybe sell a portion, and keep the remainder - that's what I've done!!.. best of both worlds :)

black_bird2

8th-September-2007, 06:25 PM

Thanks Tech for the efforts and charts. As a holder and a relative newbie this helps my learning as I continue to watch for it to unravel in time.

1234

10th-September-2007, 10:59 PM

late ann today, now there's large volumes placed - Buy side heavy for a change..

The EGO roller coaster looks set for a loop-da-loop tomorrow..

juw177

10th-September-2007, 11:04 PM

late ann today, now there's large volumes placed - Buy side heavy for a change..

The EGO roller coaster looks set for a loop-da-loop tomorrow..

Why do you say that? To me the weak close is showing the opposite. I too was wanting the ann will give it a kick but there was a lack of demand so sellers drove the price down. The momentum the day before may be due to insiders expecting an ann. We will see tomorrow.

edit: oh, there is one more ann out. oops, please disregard my comment. Thoughts on the ann?

1234

11th-September-2007, 05:50 PM

Why do you say that? To me the weak close is showing the opposite. I too was wanting the ann will give it a kick but there was a lack of demand so sellers drove the price down. The momentum the day before may be due to insiders expecting an ann. We will see tomorrow.

edit: oh, there is one more ann out. oops, please disregard my comment. Thoughts on the ann?

Apparently the ann was good, by all accounts!! Nice close.. up 15% buying rose towards the end of trade

:)

To me, the ann was confirmation of Stokes Bay, more than Valentine.. They are hinting at the Stokes Bay prospects, maybe as a backup if Valentine is unfounded.. Keeps us hopefull even if Valentine isn't as good as expected, but then go on to suggest there was more potential than first though at Valentine.. It's the way I read it anyway??

Could be wrong, and the traders will dump it tomorrow, but the strong finish to the day suggests otherwise?? With more news due towards the end of the week & Valentine reaching target depth?? Could be anywhere, I'm thinking UP...

Helping the situation is EMR being plugged and abondoned.. Jump shippers have turned there attention BACK to EGO..

doctorj

14th-September-2007, 12:51 PM

The silence before the storm really. This weekend should see old rig 18 intersect the top of the target sands. From there wirelines will be run to test the hydrocarbons in the sands above and in the target. Probably 5-7 days before we have wireless results for the drill. Then if necessary, cased for completion and a DST - perhaps the better part of 5 days for that before we know results.

Up or down, either way, there'll be plenty of vol at the partners soon enough.

Trader Paul

16th-September-2007, 10:42 AM

:)

Hi folks,

EGO ... astrocycles looking good for October/November 2007:

05102007 ... positive news expected here

16102007 ... 2 positive cycles - rally continues ???

18102007 ... more news expected here

30102007 ... positive spotlight on EGO, as a result
of 2 positive cycles ... but, price
reaction may be unusually flat.

15-16112007 ... more positive news ... price same
as 05 and 18102007 ... ???

29112007 ... minor and positive cycle here

happy days

paul

:)

=====

greenfs

16th-September-2007, 01:10 PM

Tekmann

24th-September-2007, 02:31 PM

News Galore.>>>

24/09/2007 2:21PM 4 Farminee Jurassica provides funds for EP 412 and EP 5/06-7
24/09/2007 2:19PM 1 PCL: Valentine-1 Update
24/09/2007 2:12PM 2 Update on the drilling of the Valentine-1 well
24/09/2007 2:11PM 3 FAR: Activity update
24/09/2007 2:02PM 2 ARQ: Valentine-1 Update

http://www.asx.com.au/asx/statistics/announcementSearch.do?method=searchByCode&releasedDuringCode=W&issuerCode=EGO

Tekmann

Mikii

25th-September-2007, 03:47 PM

Just a question, how come out of nowhere, the bid is .035 and the offer is .015???
Theres no trading halt or anything....

doctorj

25th-September-2007, 03:53 PM

The clastic sediments of the target Virgin Hills Formation are
interpreted to have been intersected with lithologies being

predominantly tight sandstones and calcareous claystones.
No significant indications of hydrocarbons or porosity were
noted over this interval. Further evaluation of all intervals in
this well will be undertaken with the planned wireline logging
program.
Following the logging program, the well will be plugged back
and sidetracked to the Stokes Bay targets. In Valentine-1
the very strong gas shows and indications of porosity in the
shallower intervals of the Anderson and Laurel Formations is
considered highly encouraging for the targets of the Stokes
Bay 1 well which were encountered as planned, substantially

down-dip in the Valentine well bore.

Valentine has been written off and they're preparing to test Stokes. FAR, PCL, EGO, ARQ & EMR/O have all taken a hit.

Mikii

25th-September-2007, 03:54 PM

Ohhh announcement, damit..... its on .023 at the moment. Haven't read it yet, net is capped and is so slow, goodluck.:)

Go Nuke

25th-September-2007, 04:19 PM

Yep looks like Valintine turned up nothing!:bad:

Seems to have hit some support at .021c.
It will be interesting to see what happens from here.

(I dont hold btw)

1234

25th-September-2007, 06:13 PM

Ahoy mateys.

Arr be going down with the ship....

You never know, it could get resurfaced one day!!

lol..

Only a small portion, so no real concerns..

stampa2911

27th-September-2007, 09:43 PM

take it easy on me guys, this is my first time. not happy with ann but so it goes. :banghead: would really like to see if you guys think it is worth holding for another month:o

Mikii

4th-October-2007, 12:30 AM

i just want to know, when does drilling in stokes bay start?
* i only hold a small portion, sold a while back... :)

vert

4th-October-2007, 01:30 AM

i just want to know, when does drilling in stokes bay start?
* i only hold a small portion, sold a while back... :)

was just looking myself to find the same answer, the best i could come up with is october so any day now i guess.

looking to get in again before they announce the start of drilling, may have to be tomorrow.
stokes bay sounds exciting and speculation should see the sp moving soon.

Tekmann

4th-October-2007, 07:35 AM

Vert.

I cut to display your word document as inserted below, but could you reference where you got this from...???

Thanks
Tekmann

vert

4th-October-2007, 09:31 AM

Tekmann

4th-October-2007, 09:46 AM

from EGO annual report pg 6. and again further on, pg 13 has drilling program dates.
how do i cut and past or copy to here from a pdf? i could get it word then here as an attachment but not in text on this bit....

I did it a rather crude way, which is the quality has dropped off some.

As it was a image (picture) in word, I hit the PrtScr (PrintScreen) button once the document was up, then opened a photo editor (like paint) and pasted it in, then cutting only the section wanted, and saving it as a .jpg.

It's the slight enlarging that blurred it.

Edit: anymore questions on that, pm me and will happy to help..

Thanks for your snippit
Cheers
Tekmann

Tekmann

4th-October-2007, 12:57 PM

NEWS.

As confirmed by Vert in previous post.

http://www.asx.com.au/asxpdf/20071004/pdf/314ydpv44651z7.pdf

Tekmann

Fiji

11th-October-2007, 03:17 PM

I had this stock on my watchlist for some time now at 0.008c and now I see that its gone up to 0.023c!!

I've read some articles on it but not sure if theres value in buying it? What is your opinion on the future of this stock? I'm sitting on the fence right now, whether to buy it or not. :homer:

Thanks in advance

camaybay

11th-October-2007, 09:03 PM

Fiji,
I hold some of these, but my entry price was 0.05 more than current.
The previous posts provide histoy and a search of the ego site will give you future action as to where they have exploration interest. This event is the second string to the Stokes/ Valentine drilling and they have based their selection on a previously recorded gas find.
DYOR
Cheers.

I like you front porch avantar :)

zander

25th-October-2007, 12:06 AM

I am holding, and I am cheesed off that EGO opted out of the last 200 meters of drilling at stokes bay: comment by ES in the latest open briefing:

"We are
getting some very good early encouragement in the Canning Basin."

So, I just hope he is talking about the gas and not oil further down.

craftyluke

25th-October-2007, 01:35 PM

[QUOTE=zander;215994]I am holding, and I am cheesed off that EGO opted out of the last 200 meters of drilling at stokes bay.

opting out of the last 200m is not such a bad thing, playing it safe. They still have the right to get back in if the bottom zone is found to be productive. this will incurr some penelties but better to be safe then sorry.

phcuk

25th-October-2007, 04:06 PM

Hi All,

I'm new to the stock market and looking to buy EGO. Should this be a good buy or should be watching it for the time been? Any pros have any advice?

zander

25th-October-2007, 11:11 PM

opting out of the last 200m is not such a bad thing, playing it safe. They still have the right to get back in if the bottom zone is found to be productive. this will incurr some penelties but better to be safe then sorry.

You were right craftyluke.
And EGO is back in.
Thank you for your knowledge.

phcuk,
EGO is going to drill the thornbill 1, moriary, star finch 1 and lake mcleod next.
Have a look at the annual report and investigate.
I am holding.

craftyluke

26th-October-2007, 05:34 AM

Hi All,

I'm new to the stock market and looking to buy EGO. Should this be a good buy or should be watching it for the time been? Any pros have any advice?

EGO is probably not for the conservative investor. There is definatly a fair amount of risk involved the same as most exploration companies. I take some comfort that they are working with ARQ who have good management and come up with some good results.

Tekmann

5th-November-2007, 10:53 AM

EGO News.

Results of Testing the Nullara Formation due in the next 2-3days.

http://imagesignal.comsec.com.au/asxdata/20071105/pdf/00779399.pdf

Tekmann

yangxh

5th-November-2007, 11:34 AM

EGO News.

Results of Testing the Nullara Formation due in the next 2-3days.

http://imagesignal.comsec.com.au/asxdata/20071105/pdf/00779399.pdf

Tekmann

Anyone can explain the significance between such an election to participate and non-election? please explain if someone knows the difference.

rub92me

5th-November-2007, 11:43 AM

They obviously believe that the chances of success have increased. Whether they're right or not remains to be seen. :2twocents

Scuba

5th-November-2007, 01:55 PM

They obviously believe that the chances of success have increased. Whether they're right or not remains to be seen. :2twocents

Really? Could also signal they they are prepared to work to plan and can be counted on when committed? Maybe you're correct, but seems a bit of an assumption...
Anyone else?

Go Nuke

5th-November-2007, 11:08 PM

I once was told that the market or those in it often "know" whats comming.

I guess that EGO have seen an upside to partaking in the project now.
Would like to see the sp improve just a little more before convincing me that this company is on the way up again.

Been on my watchlist for quite some time, so its rather appealing again lately.

DYOR

doctorj

6th-November-2007, 12:47 AM

I'm not sure they know anything special - they backed in on Friday and the formation began testing on Sunday. I assume the penalties increased the longer they were out or once HC's flowed.

The market certainly seems focussing on the "no hydrocarbons" and relatively low pressure for the moment. After losing all that mud, it doesn't surprise me that there's nothing in the first few thousand barrels, but I'd be nervous if we don't hear something in the next day or two.

Disc: I don't hold EGO.

Dollarmite

9th-November-2007, 12:21 PM

Hi guys

I just wanted to ask some questions about this stock.

1. Do you think it is possible for it to go back down to 0.005, 0.006?
If so how and why?

Thanks for any help.

Tekmann

9th-November-2007, 01:36 PM

Hi guys

I just wanted to ask some questions about this stock.

1. Do you think it is possible for it to go back down to 0.005, 0.006?
If so how and why?

Thanks for any help.

Hi Dollarmite. Welcome.

IMO YES, possible as these penny share are far more volatile, and long term support for this is at 07c-08c.... from a chart pov...

Think the market is priced in the news already, and merely waiting time for confirmation.

Tekmann

Tekmann

21st-November-2007, 04:06 PM

No movement on EGO, no chatter.. but Just noticed a 50Million share observation totalling 1Million dollars entered at 2c

Will it stay or will it Go...???

daaussie

21st-November-2007, 09:56 PM

Yeah hello, you picked up the 50 million order, but have you seen the existing 20 million order above that, or the two other 20 mil orders that appeared thursday and monday, all at .2 cents.

I have been watching the previous two 20 million lots being taken out. But as each one gets eaten another 20 million, and now 50 million order comes in at .2.

Adding them together 3x20 million + 50 million = 110 million EGO shares
This works out to 2.2 million dollars worth of shares .2.

Given the amounts and their size, in my opinion its a good chance there is a huge buyer trying to gain a substantial number of shares.

The next question is why?

Do they know something?

2.2 million dollars is a large amount for a penny stock worth 2 cents...

So yes, Im in!!!

hardcoremike

21st-November-2007, 10:06 PM

hmm, bought these a few weeks ago at 2.4c cos i had no idea what i was doing :\

i'm goin on a holiday so i wont be trading till jan.. hopefully EGO can suprise me once i come back

Tekmann

22nd-November-2007, 10:09 AM

looks like the big 50mill pulled this morning....

Some 20mill shifted lower... and so the story goes...:eek7:

EDIT: .02c line nearly all gone... 1mil left

Jockstar73

22nd-November-2007, 11:07 AM

that 50 mil order dropped down to a 1.9c buy... wants to save $50k by the looks of it..... buts what $50k on a $1mill order between friends.

I think that they are collecting ready for the Ann of a basin of more oil that Saudi Arabia.... :2twocents and some humor ofcourse

Tekmann

22nd-November-2007, 11:12 AM

that 50 mil order dropped down to a 1.9c buy... wants to save $50k by the looks of it....

OR maybe it was a poor attempt to drive the stock up from mexican standoff.

And looks like the Chicken's got legs and Ran. But alas she's back just somewhere safer..

cant see it getting filled IMO

Tekmann

Go Nuke

26th-November-2007, 05:26 PM

Well I bet it got filled today unless they took that order off the table!

Wow:eek: It was a pretty big drop for EGO today.

Investors just dont like ANY bad news when it comes to oil exploration:) {or any company i suppose}

Go Nuke

4th-December-2007, 04:48 PM

tugga

4th-December-2007, 06:18 PM

Looks like its game over for EGO till next year.

Stokes Bay is on hold till the wet season is over.

http://imagesignal.comsec.com.au/asxdata/20071204/pdf/00791505.pdf

Looks like the buyers are drying up and sellers queuing up

Not all bad news....

Buy up at the low price and put this stock in the bottom of your drawer, and hope there is blue sky next year :P

Rocket man

4th-January-2008, 04:10 PM

Up 25% today on no news from .012 to .015

I don't follow this stock - anyone got any knowledge and/or theories why ?

Go Nuke

6th-January-2008, 03:22 PM

I just noticed that too.

The only announcement is just repeating what we already knew, that testing of the Stokes bay had been put off till April.

I'm guessing its just because of the price of oil as to why the sp has rocketed up.
Its still trading under its 200MA so I'm a bit hesitant to jump on, especially seen as there was no real announcement.

moneymajix

4th-February-2008, 02:27 PM

04 Feb 2008 14:20 !

Empire announces the approval to drill Moriary-1 in EP 426

2.2c, up 83%

LRG

4th-February-2008, 10:25 PM

Wysiwyg

4th-February-2008, 10:32 PM

I note today in the ASX top 20 most traded this coy traded 376.6 Million shares today up 92% to 2.3 cents.

Has anyone got anydata on this and why the huge volume and increase?

I am going to read up on this, but thought someone may have a heads up:confused:

Ol` Chief say ... happy punting ground.

But seriously, blue chip, strong and profiting companies just don`t cut it like the pennies do.:D

Go Nuke

4th-February-2008, 11:42 PM

Well well EGO is back on the boil again & in a big way.
I didnt expect to hear much from them till they restarted drilling the Stokes Bay well in April I think it was. (Im typing this on my mobile phone cuz im on holidays so cant double check that)
Im amazed that 1 simple ann about drilling in W.A could cause the sp to virtualy double in a day! I mean nothing has changed imo.I guess like Stokes Bay etc there must be alot of upside IF they do actually find anything considering its a 1c stock.
Anyway i will just sit back and watch how it goes.Its painful watching a stock climb whilst being broke:)
I think buying into a stock like EGO is about how much risk u want to expose yourself to.IF they find something there is plenty of upside, IF they dont find anything then u just have to look at their previous announcements a few months back to see the results.

MangaNOID

15th-February-2008, 11:05 PM

interesting that reading through the last announcements about Moriary, they have encountered gas readings when they didn't expect too. they have a long way to drill to get to their target too so this could be promising perhaps? gas readings got higher with depth. will be interesting to see what is said on the next update.

bulldog07

19th-February-2008, 12:59 PM

Yeah I am involved in EGO with some speculative dollars. Noticed today in an announcement that they are recording gas readings of 100 ppm Methane (C1), with plenty more drilling to go in the Moriary-1, EP 426 target.

I assume this figure is not close to commercial, does anyone know what would be considered a commercial grade? I thank anyone in advance for their response.

MangaNOID

23rd-February-2008, 03:54 PM

well from my understanding the latest reading of methan of 0-300 on a chromatograph means 0-30000ppm! (1bit equals 100ppm) just wish they would specify if its a bit or ppm they are talking about. good to have daily updates though.

Go Nuke

4th-March-2008, 04:36 PM

camaybay

4th-March-2008, 09:41 PM

I dont see a whole lot of buyers rushing in with the target depth getting closer and closer.....which suprises me.

There are HEAPS more sellers than buyers at the moment.

Are the J and L sands where all the action might be?

I would have thought people would be jumping on soon incase they come up with something worthwhile:confused:

From what i've read, the F sands carried the goods, but all explorations are unique.

Pressure testing before entering the next 2 layers sounds positive and there is a hint of hydrocardons, but look at Stokes Bay, back for testing this month to find something, we hope.

cheers

DYOR

Justthinkin

7th-March-2008, 06:44 PM

Is nobody excited by EGO's Moriary progress? Todays announcement made comments like "moderate oil show". Volumes moved from about 4M to circa 70M quite quickly. Day's volume circa 137M and price range 1.9 ~ 2.4 (average I think slightly above 2.2).

I would think given rate of drill progress Monday or probably Tuesday will be an interesting day...

nicecar

7th-March-2008, 07:27 PM

Monday seems to be the big day, plenty of volume today as said above. I regret not topping up at .019!

camaybay

7th-March-2008, 08:49 PM

Drilling Log

6.00 am at 2406m

progress for 24 hrs= 46 m

prediction for top of F sands 2446 m

6.00 am from 7 to 8th

2406+46=2452

6 metres penetration

I hope that there is a site party raging to-morrow morning :)

Go Nuke

10th-March-2008, 04:04 PM

I hope that there is a site party raging to-morrow morning

Hmmm not quite by the looks!
EGO has been dumped HARD today with what i can gather appears to be a rather ordinary report.

I'm the first to admit that i know nothing about oil, but I'm assuming that those fluroecent tests don't look so good.

Can someone with more knowledge enlighten myself and others how this process works?

Another miss for EGO.
Support at .015c now.

MangaNOID

10th-March-2008, 08:10 PM

I think it only got dumped today as most people were anticipating a result.

Too early to call a duster or not as they are STILL TESTING! The wiper trips should be of interest hopefully in the next report.

There are brown oil staining's the report said. as for the fluorescence who knows! I cant comment on that.

MangaNOID

10th-March-2008, 11:08 PM

A bit of lite reading if anyone is interested in finding out about fluorescence, cut and streaming tests for oil as in the latest ego announcement.

http://books.google.com.au/books?id=E49NJEssz3kC&pg=PA196&lpg=PA196&dq=fluorescence+cut+crude+oil&source=web&ots=PXw1XY7zb9&sig=bkpUVShInaaL3E50HtpOHZ5YkFU&hl=en#PPA196,M1

http://books.google.com.au/books?id=W_cz6uhl6_IC&pg=PA163&lpg=PA163&dq=fluorescence+cut+crude+oil&source=web&ots=5YNI28EuiG&sig=VPDGDLpngfgH1-f6eKhfvpul2kA&hl=en
page 165 of second link quote " ii) lack of fluorescence is not conclusive proof of the absence of hydrocarbons. "

I had a bit of a read but would say this testing method would not be solely relied upon, hence the further testing........keep holding our breath.....

onebytwo

2nd-April-2008, 09:48 PM

EGO chart is looking very bullish. Rising trend-line forming, and coupled with the Lake Macleod spudding this month, this one can really take-off.

IMO

Datsun Disguise

11th-April-2008, 09:48 PM

Been looking into ego again, had a dabble during the moriary drilling, although didn't expect too much given the low reserve estimates. My thoughts are that this should show some action shortly - and not just because of the 150 million barrels they are targeting at Lake Mcleod - if you have a look at the schedule for this year there is more drilling for decent size targets than your dentist would be likely to see during his career (ha ha - I know I'm no comedian).

The half yearly report shows a drilling and seismic program that runs for the entire year except for June (take a breather guys).

Anyway, my opinion is that ego is set for a reasonable year, where there will be plenty of opportunity to take advanatge of well spudding - and for the more courageous some big moves if they find anything.. fingers crossed for Lake Macleod - due April 19 according to the report.

(Go Doggies - Bombers trailing them 48 - 60 at half time:D)

Datsun Disguise

15th-April-2008, 01:04 PM

Looks like the interest in EGO is beginning to show, buying at .019 selling at .02 with volume of 23m shares today. The postponed testing (due to the wet season preventing mine equipment from being able to be moved aorund) of stokes bay is due to re-commence shortly and with the lake Macleod drilling scheduled for mid April (targetting 150,000,000 barrels oil) I think this is a reasonable entry point.

The spike on the chart (attached) ocurred when they announced planned drilling of the Stokes bay / Valentine well in August last year.
From that announcement>>
The Stokes Bay-1 well is planned to be drilled next from the same borehole as Valentine-1 as a deviated
2,500 metre test of the updip Point Torment gas pool. Point Torment-1, drilled in 1992, flowed gas at a
rate of 4.3 million cubic feet of gas from the Carboniferous aged Anderson Formation sandstones. ARC
considers that mapping of these Anderson Formation “gas sands” indicates that the Point Torment
Structure has the potential to trap up to 158 billion cubic feet of recoverable gas at the P10 level. Empire
has previously stated that there is similar gas potential, with the addition that Point Torment has the
potential to have up to 10.3 million barrels of recoverable oil, if oil is present in the “Unit B Sands” and the
“Deltaic Unit” of the Anderson Formation and if these sands are filled to their spill point.

With the testing of the stokes bay formation to be completed shortly according to the last half year AND the Lake Mcleod program getting legs this month my opinion is that ego could be set for some significant moves over the coming weeks.

Any other thoughts on this one floating around? Doesn't look like ego is being closely tracked on this forum?

Datsun Disguise

21st-May-2008, 10:22 PM

Signs of life today for ego - a decent amount of volume. In anticipation of the delayed stokes bay and lake Macloed drilling starting up shortly is my guess for the motivation. We'll see if it gets backed up tomorrow . I'm not sure if ego is 'leaky' news wise, but perhaps we have an announcement coming soon?

Anyway - bit like AIM - I'll assume I'm not talking to myself.....

Go Nuke

30th-May-2008, 02:20 PM

EGO is one that i watch from time to time.

Possible symmetrical triangle?

Watch for a breakout IMO.

oooh writing is a bit small. Sorry.

Just says RSI rising and symmetrical triangle formation maybe:)

Datsun Disguise

2nd-June-2008, 11:11 AM

Some strong interest in EGO this morning up to 2.4c on strong volume >$100m....

Any theories in the absence of an announcement?

tinkus

2nd-June-2008, 01:45 PM

easy its just the start of the roller coaster ride, fast start up we go....

re: Announcement its due very soon if not today.

Should go higher to low 3,s in a weeks time

cheers

tinkus

Datsun Disguise

2nd-June-2008, 02:00 PM

easy its just the start of the roller coaster ride, fast start up we go....

re: Announcement its due very soon if not today.

Should go higher to low 3,s in a weeks time

cheers

tinkus

You know Tinkus I always loved rollercoasters as a kid, as an - alleged - adult I enjoy these ones even more!! Looking forward to the next 2 months with ego.

Datsun Disguise

4th-June-2008, 12:14 PM

Yesterdays acion after the announcement disappointed me a little. I saw it as postive (the annc), we have a schedule of activity on some decent sized targets over the next 2 months. The sell off was a bit unwarranted imo.

But happy to see that it's holding up well today - good to see the true believers are hanging on and new ones joining. Noted some reasonable trades - 36 over $20k and 9 above $40k. The biggest was a $75k parcel pretty much all in the 2.4-2.5c range. Volumes have been substantial all this week as well. Sooner we clear out the sellers the better!

Now - time to put my charting skills (ha ha) to the test and look to ride the coaster!

Datsun Disguise

4th-June-2008, 01:12 PM

Noted some reasonable trades - 36 over $20k and 9 above $40k. The biggest was a $75k parcel pretty much all in the 2.4-2.5c range.

Sorry All, my bad.

Didn't aggregate the actual trades, just the parcels going through. So assuming that the parcels that went through at the same time all belong to the same trade then the story as of a few minutes ago is.

above $20k >> 36

above $50k >> 17

above $100k >> 6

top value trade (@2.5c) >> $323,105.22:eek:

Now I feel insignificant. Glad to see some serious money hitting the table though. I missed this months stock tipping deadline, but for the record ego is my tip for June (and probably for July as well).

Go Nuke

4th-June-2008, 03:44 PM

Im unsure of how many shares are on issue, but if EGO hit oil OR gas in this current climate then the sp will rocket!!

There is alot of upside to this stock IF they find something.

However they have had some failures the last few times at finding anything.

The potential upside is why big money is being thrown at EGO...IMO.

lioness

7th-June-2008, 09:01 AM

Hi Go Nuke and Datsun,

Do you mind giving an updated chart Nuke, it looks like it's ready to break out past 2.6 and head to 3.2

The AFR gave it a write up in the charting section from Regina Meani who states it have an initial move to 6 cents then 10 cents and possibly higher.

I am not sure how the DOW collapsing will affect it though.

Finch about to spud any week now should underpin it.:confused:

DavidB1

7th-June-2008, 08:49 PM

it needs to close above February highs of 2.8c the next point be 0.365

going to get in when the market opens

the stock was as high as 33c in 1999

lioness

8th-June-2008, 08:26 AM

it needs to close above February highs of 2.8c the next point be 0.365

going to get in when the market opens

the stock was as high as 33c in 1999

David, I think you mean the next point is 0.0365 not 0.365. I wish. :)

As soon as the spud date is announced or spud begins, this will take off big time. They have back to back drilling of 2 big wells in the next 2 months so should be good momentum coming. My research shows there is a good chance of success here also.

Got a writeup in the AFR also by the chartist Regina Meani.

Looks to be a good show of moving higher.

DavidB1

8th-June-2008, 11:03 AM

David, I think you mean the next point is 0.0365 not 0.365. I wish. :)

As soon as the spud date is announced or spud begins, this will take off big time. They have back to back drilling of 2 big wells in the next 2 months so should be good momentum coming. My research shows there is a good chance of success here also.

Got a writeup in the AFR also by the chartist Regina Meani.

Looks to be a good show of moving higher.

yes i do wish lol sorry i was posting as i was walking out the door

i was reading yestoday that there is a Potential 150 million barrels recoverable oil reserves within the Lake MacLeod

looking like the by of the year i hope

lioness

8th-June-2008, 03:03 PM

yes i do wish lol sorry i was posting as i was walking out the door

i was reading yestoday that there is a Potential 150 million barrels recoverable oil reserves within the Lake MacLeod

looking like the by of the year i hope

Yes, David that is true and Finch has massive gas potential which will be drilled first before end of June.

Small market cap and cannot go wrong here as upside is 10 cents plus with success. Worth a punt that's for sure.:)

lioness

8th-June-2008, 05:40 PM

Trader Paul,

Where are you. Can you complete an astro analysis here for us.

Thanks.:rolleyes:

Datsun Disguise

8th-June-2008, 10:58 PM

Hi Lioness, David,

I'm glad some others are excited about ego as well - the next two wells at finch and mcleod are the blue sky opportunities imo - although as you have pointed out with good chance of success. The bread and butter play is the testing of stokes bay. This was suspended due a bit of rain last year (well a LOT of rain actually). They are now working on setting up an all weather road into the area in order to get the equipment back in there to complete the testing. One of my previous posts has got an extract from a report that outlines that the intersected "Structure has the potential to trap up to 158 billion cubic feet of recoverable gas". Updip of this structure a previous well flowed at 4.3mcf a day.

The fact that these guys have decided to drill finch & mcleod first ahead of the testing of stokes (which is looking pretty good) tells me that they have high expectations. I for one am very much looking forward to June / July period - and not just because I get to do my tax return!!:p:

Night all - off to watch Stoner stone em in catalunya.

lioness

9th-June-2008, 08:34 AM

NickVC

10th-June-2008, 02:37 PM

Update of the planned drilling of Gingin West No. 1 well, published at 2.26pm....haven't had a chance to look at the results yet...

mike85

10th-June-2008, 06:40 PM

pretty happy with today's efforts, up 20% with 154 million traded :)
does anyone think they have much more of a run in them?

webclever

10th-June-2008, 08:08 PM

Definitely have a lot more run on them. They still got Lake Macleod & Star Finch-1 drilling results that could potentially turn into black gold.

DavidB1

10th-June-2008, 08:21 PM

Resistance points :- 0.028 which it hit today ; 0.365; 0.43

It has all-time highs at around 10-times current levels

I bought in today 900,000@ .029

I should have bought in the morning lol

tthurlow2287

10th-June-2008, 08:56 PM

Hmm...looks to me like a good opportunity. I see it dropping back a bit tomorrow, but it looks like its on the way up for the mean time.

Go Nuke

10th-June-2008, 09:30 PM

Sorry to those wanting another chart.

Been on holidays:)
EGO looks the goods at the moment hey:)

Alot to the upside IF they find anything.
With the current price of oil, and everyone jumping on the gas bandwagon, any significant ann will rerate this stock imo.

.03 is firm resistance, but if the DJ is up tonight and with the buyers starting to come in, I would think it will push through this.

.032-.033 will be the next resistance to get through. May easily even go to .035!

.033 is proven support/resistance on a P&F chart too, where it acted as support in Sept 2001.
After that .043 is the next resistance.
Exciting time ahead for those of you who hold. But I'd keep my stops tight when it gets closer to drilling depth being made, as in the past when EGO has missed finding anything it gets dumped pretty hard...naturaly:)

DavidB1

10th-June-2008, 09:52 PM

Support:- 0.01; 0.006; 0.003

do u have the dates for the drilling results and how tight would u have the stops at ?

lioness

10th-June-2008, 09:52 PM

nomore4s

10th-June-2008, 11:44 PM

Chartwise looking very positive atm, would suggest some form of accumulation going on.

Nice breakout today with positive volume. With todays strong close I would like to see prices push higher tomorrow but with overseas markets looking weak atm it might be unlikely, either way where support comes in now on the next wave down will be telling.

Go Nuke I probably wouldn't be to concerned with any support or resistance on the chart any further back than July 07. There has been such a change of hands since then (huge volume on the chart) I would doubt it would have any effect on the current sp.
1.5c would be the next major support imo as thats where the buyers overcame the sellers last time but I would want to see some support at 2.2c or I will be out.
As for resistance we will just have to wait and see where the sellers turn up next;).

I hold.

bowseruni

11th-June-2008, 10:36 AM

bought some today, comsec shows some big buys today

what are peoples thought on how high they will go IF they succeed in drilling?

Datsun Disguise

11th-June-2008, 01:28 PM

bought some today, comsec shows some big buys today

what are peoples thought on how high they will go IF they succeed in drilling?

Hey bowseruni - I'd back your call for a 'what if' scenario calc. I can do a rough calc on the oil at lake macleod, but as for gas I don't have a rule of thumb for in ground value.

Re Lake macleod - best case scenario 150mmbl @ $20 in ground value ($130 above ground) means $3bn assset for ego. about 2bn shares on issue shows an asset value of $1.50 per share.....

Does anyone have a better method for giving a indication on valuing assets? Also what is the best way to value in ground gas as an asset?

Regarding the price action so far - I think it was inevitable that we'd see a bit of a retrace today - but very happy to see it sitting at around 2.8 -2.9c - pretty sure most are holding on for the drilling (and wisely so imo). Note that energy and materials indices are down 1% today....

bowseruni

11th-June-2008, 02:41 PM

so at 0.029 i got a decent buy?

(still pretty green at all this, have no idea about the graphs you guys are posting and how to read them properly)

NickVC

11th-June-2008, 03:31 PM

so at 0.029 i got a decent buy?

(still pretty green at all this, have no idea about the graphs you guys are posting and how to read them properly)

I am new to this also, but bought in yesterday at 0.025...i'm just testing the waters in share trading so only bought 35000 shares.

It looks like the more experienced people think that this may well skyrocket (if drilling results are good), which makes sense to me. I'll just hold and see what happens. If drilling results are bad, then I might lose a couple of hundred $$. But if results are really good, then based upon the assessment of sp of around $1.50 (just for a great oil result, leaving aside what might also happen with the gas) then I'll make something like a 5000% profit. Its certainly a risk i'm willing to take ;)