CEL - Challenger Energy - Aussie Stock Forums

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  1. #1

    Post CEL - Challenger Energy

    Challenger Energy Limited (CEL) was formerly known as Sunset Energy Limited (SEY).

    Previous discussion of this company can be found in the SEY thread: http://www.aussiestockforums.com/for...ad.php?t=19710


  2. #2

    Default Re: CEL - Challenger Energy

    Quote Originally Posted by philly View Post
    The last ASX announcement regarding the Triple Crown Prospect was back on 21-1-11. There was talk of preparing the well for fraccing but no news since. What is happening?

    I suspect that there must be something stirring because in the past fortnight 2 new investors have lodged a Form 603 with ASX. A Queensland Super Fund has picked up a6.71% interest and a NSW Absolute Return Fund has picked up a 5.97% interest. Strange bedfellows. Watch this space.... any thoughts welcome.
    Quote Originally Posted by CapnBirdseye View Post
    Yes, it's good news to have a couple of funds involved. I think Pitt St is related to Novus who were the broker for a recent placement. If this is the case, then I'd be surprised if they weren't party to some good, reinforcement lets say of recent announcements.

    It's been very quiet on the testing front, I'd dearly like to get a little news some time soon on progress/forward programme. Maybe this Friday? It may be that the next announcement is regarding new acreage. If this is the case, I'd say we really are on to a good thing here. After new acreage is secured we might start getting info regarding a test programme.

    I'm holding CELO.
    The last news regarding the Triple Crown Prospect was on 21-1-11 that is now 69 days ago. IMHO shareholders need to be better informed and up dated.

  3. #3

    Default Re: CEL - Challenger Energy

    Does anyone know anymore about this stock? I have been given a 'tip' by a friend that works for the company and he is hopeful they are about to have a run up. He bought it at .20 a while ago - looks they fell after that to a low of round .08 and have been slowly rising again with a bit of a bump recently.

    There seems to be some good news coming out of South Africa about their ground there and they have been 'pushed' by a guy called James Gerrish on the Finance News Network, looks like he is an senior advisor for Novus Capital. This is what he had to say/spruik about CEL,

    Lelde Smits: "Finally gentlemen, if you were given $1 million for Christmas Ė whatís the first stock or sector youíd put it in to generate the greatest returns over 2013?"

    James Gerrish: "Iíll put it on one stock and put it out on the line there, Challenger Energy Limited (ASX:CEL) is one Iíve been looking at for a long time- CEL- owner of the stock, I have a lot of clients in the stock, itís a shale gas play, itís just got some good news coming out of South Africa. If I had my choice Iíd spread the $1 million around but if I had to put it on one name, it would be Challenger Energy, CEL."

    Its not the sort of stock I would invest in, but I am considering a pure speculation/gamble play with some spare coin that I am prepared to lose!

  4. #4

    Wink Re: CEL - Challenger Energy

    CEL has an application to drill for Shale Gas in the Karoo Basin (South Africa). The application is for 1 million acres around Cranmere CR 1/68, the only well in the entire Karoo Basin to flow significant gas to surface. In 1968, Cranmere CR 1/68 had flowed more than 8 million cubic feet of gas per day from a 158 foot (48 metre) shale interval. Large players such as Chesapeake, Statoil, Sasol and Falcon Oil & Gas have also moved in on the action. The US department of energy estimated that 485 trillion cubic feet of recoverable shale gas resources could be hosted in the Karoo. CEL has a potential asset worth $1.9b with a current market cap of $33.79M.
    CEL has noted in its last announcement that they are looking to source a JV partner to help develop the asset. If this happens, and presuming that CEL retains 50% of the asset, and based on initial estimates, that leaves them with 4.25 Trillion Cubic Feet (TCF) With Bandu (partially owned by CEL) has a 10% share leaving CEL with 45% net. With net risked recoverable gas to CEL of around 3.8TCF and given that most gas sales are in the range of US$0.40-US$0.60 per MCF (or about $US500m per TCF), CEL has a potential asset worth $1.9b.
    I expect the share price to triple from 0.07 to 25 cents in the next few months.

  5. #5

    Default Re: CEL - Challenger Energy

    Quote Originally Posted by bigbankerbroker View Post
    I expect the share price to triple from 0.07 to 25 cents in the next few months.
    Well unless the South African Government legislate to allow fracking it wont be worth anything.

    I do hold in my speccy portfolio in case they get lucky, but its been talked up for a long time with nothing yet.
    "I started with nothing, and I still have most of it"
    if you choose to take this post as advice its free, and you have been overcharged.

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