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OIP - Orion Petroleum

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I'm still here miner , just been reading posts though , no one replied to my post on the 16th of march , so I thought everyone jumped ship. OIP's sp has definitely surprised me , let's hope results are there to match.
 
Well - OIP broke into blue sky territory today. It's never closed at 17cents before (although the float price was 20cents). Good turnover as well so all positive signs. Looking forward to the announcement next week.

malachii
 
malachii said:
Well - OIP broke into blue sky territory today. It's never closed at 17cents before (although the float price was 20cents). Good turnover as well so all positive signs. Looking forward to the announcement next week.
malachii
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Hmm !

Announcement of what ?

Change of shareholding pattern due to Malachii becoming one of the significant shareholders for OIP or sold his sizeable chunk

Of course with ESG announcement OIP also followed the trend closely.

Enjoy the sunshine until it rains

Disclaimer : I do hold a small parcel of OIP
 
Malachii

I took a quick profit at these prices , at 2.5 times entry price it was too hard to turn down for myself. Getting back in the air is my priority . All the best , and will still watch and report on this one if no one else does.
 
Ever since Malachii and i bought in OIP has been smoking.

I'm in CSG NSW pretty heavy (by my standards) now.

How bad to STO need to make an acquisition right now? Perhaps they'll run the numbers over ESG? Could offer scrip... i'd take some more STO if they were offering

Drilling results could go either way. Am i right to recall an announcement of technical issues? Not a great sign, but we will see. They are likely to intersect a decent coal seam but permeability will be the question
 
Hmmm... this morning has record prices for the highest daily volume since last summer. ESG jumped over 10% yesterday. Makes me wonder if drilling results are in... for some people.
 
Good to see the price hold and increase today. 19 cents is not too shabby at all - whether it's a cheap or expensive price will be revealed next week I guess.

Seasprite - don't blame you at all for taking the profits - 250% in a matter of weeks or months it nothing to sneeze at. Think I'll hang in there as I still think the company has great potential - even if this announcement is a bad one I think in the longer term it has some great real estate and this is only a very small amount of it. Obviously if the announcement is bad - the price will take a big hit!! Maybe even back to the 6-7 cent range - but the fact that price and volumes have held is a good sign.

malachii

PS PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES (OIP) - SO MY OPINION IS VERY BIASED!!!!!
 
Well that sucked - the announcement for the Moree - 4 drill wasn't real flash although it hinted at some gas by the look of it.

The price took a hit (as expected) but probably not as hard as I thought it could have. Holding at 13.5 cents is a good sign that at least the basis of the company is sound although really - this is pretty much just the cash value of the company. It's not taking into account any real estate held. It's still 100% up on just a couple of weeks ago though!!!

It will be interesting to see where this stabilizes over the next week or so. Then we wait for the next drilling - Kurrabooma - 1.

malachii

PS PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES (OIP) - SO MY OPINION IS VERY BIASED!!!!!
 
This is gas exploration we are talking about, u won't expect to hit somehting big with only 1 drill. surprised they are moving on to Kurrabooma so early on without few more drills at Moree. Anyways, at the currently market cap - $16m, $13m in cash, it's assets are only valued at $3m... a bit undervalued considering it's relation with ESG. I will be accumulating overtime...
 
I have liked and been in on OIP for some time (but only in a small small way) courtesy of my broker mates however I think that its time is at least another 6-12months away, I could be wrong but from what I understand this will be a slow dance and considering how much ESG owns of OIP directly and indirectly via the farmins of its projects ESG will imo eventually swallow it up, just a question of time and price
 
prawn_86 said:
Didnt they spin out of ESG originally?? Or was it another co? My old man holds these also, from about 9c
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You are correct, sir. As well, ESG currently owns 23% of the shares, if my memory serves me well.

In addition to Kurrabooma - 1, ESG will be drilling a well in PEL6 after seismic interpretation is finished.
 
UPKA said:
This is gas exploration we are talking about, u won't expect to hit somehting big with only 1 drill. surprised they are moving on to Kurrabooma so early on without few more drills at Moree.
Click to expand...

ESG's farm-in agreement obligates them to 1 hole per tenement, which is the drilling that is currently occurring and is why they are moving around. I expect they will drill some more at Moree in the future.
 
prawn_86 said:
Didnt they spin out of ESG originally?? Or was it another co? My old man holds these also, from about 9c
Click to expand...

Yep was basically a way for ESG to do some sort of boot strap funding for its extra permits, funny thing is after they did it bout 12months later CSG became all the rage so ESG getting access to funds was not a problem

Join the dots between HGO ESG and OIP there are some common architects (brokers) behind the scenes
 
Interestingly enough - since the announcement ESG has gone up, COI has gone up but OIP has gone down!!! I can understand why ESG is moving as they have many other irons in the fire but I was surprised at how much they moved over the last 2 days. Very surprised that COI moved so much but there again I dont know much about them.

Good to see OIP getting some good depth at the 13ish cent mark. Looking like it may form a base here but it is early days yet. Let's see what happens over the next couple of weeks. I wouldn't be surprised to see it slowly climb back up above the 15 cent mark for the very reasons that UPKA mentioned.

malachii

PS PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES (OIP) - SO MY OPINION IS VERY BIASED!!!!!
 

Come on Malachi - do something to revert back to 19 cents level. You are the only one as Sea Sprite has already departed OIP with handsome gains
 
G'day Miner,

Wish I could wave a magic wand. Good to see the move back to 15 cents today with some solid depth to buy side. I still think this is good value between 15 and 20 cents for the reasons previously discussed by myself and UPKA. We'll see if the market agrees over the next couple of weeks or so.

You've got to be happy with a 100%+ return that you've had in the last few weeks though....even if it doesn't go much further for a while.

malachii

PS PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES (OIP) - SO MY OPINION IS VERY BIASED!!!!!
 
This seems to be holding the old 13 cent support line which is good - have to admit I expected it to be a bit stronger particularly with the next drill being done now (slight pause at the moment due weather).

Should see results I'm guessing by end of month.

malachii

PS PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES (OIP) - SO MY OPINION IS VERY BIASED!!!!!
 
Good to see some depth building again for this stock. The announcement of the new licence and further drilling to take place in the second half of this year I think brought the market's attention back. It still has over 11 cents cash per share in the bank to use for exploration as well as it's exploration licences. In my opinion still not a bad buy for 8.7 cents (last trade) although I have to admit I've been buying mine at a bit less (and a bit more sometimes!).

*** AS USUAL - DO YOUR OWN RESEARCH AS I OWN A BIG CHUNK OF THESE SHARES ***

malachii

PS PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES (OIP) - SO MY OPINION IS VERY BIASED!!!!!
 
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