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PCL - Pancontinental Oil & Gas

rub92me

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Followers of the ARQ/EGO/EMR/FAR story on Valentines and Stokes Bay are probably familiar with PCL. The interesting thing about PCL is that throughout the Valentines drilling the shareprice hardly moved on very low volume. And with Stokes Bay drilling just started it got sold down to 0.055 in the last week trading on (relatively) high volume, and now back to 0.057 - the lowest prices we've seen for over a year.
PCL should also release seismic results from their Kenya block soon (in fact it's overdue). With a 10% stake in Stokes Bay it appears to offer a good risk/reward play compared with the other players perhaps?
 

rub92me

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Interesting day for PCL. Volume in the first 2 hours has exceeded highest daily volume in at least the last 12 months. Big buyers are met by equally big sellers at 6 cents. This stock is normally very tightly held, so I wonder what rocked the boat all of a sudden...
 
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I too noticed the huge volume on PCL. I presume the jump was due to the quarterly activities report, specifically the Kenya seismics announcement? Is "Initial results supported the interpretations previously presented by Pancontinental" a good thing? Talk about understatement, and no hint of when the survey will be released. I don't know much about this company or hold, but maybe I should.
 
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Major issue with these guys is that the GM just resigned/replaced after one year in the job. Announcement dated 7 November.
 
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:)

Hi folks,

PCL ... up 31% today and no announcement, yet ... !~!

have a great day

paul

:)

=====
 
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:)

Hi folks,

PCL ..... up more than 30% today, on no apparent news ... !~!

Figure April 2008 should be a good month for PCL,
especially around 10042008 and 17042008 ... may
also be some minor news expected, around 24042008 ..... :)

happy days

paul

:)

=====
 

rub92me

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The rise yesterday was caused by 1 trade for 100,000 shares. Still a lot of work to do before I would consider jumping on this. :2twocents
 
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Re: PCL - Pan continental Oil & Gas

Yeah, Risky one this one... Stokes testing coming up (surely they can't muck around for too much longer)
Origin looking for a big player to help it fund 2 wells in the JV in offshore Kenya.(PCL 25%)
Big structures identified, 3 bbo or 7tcf of gas if full.
50/50 deal offshore Namibia with Key exploration in more elephant country.
The question is funding of these and their European exploration prospects. Which brings us back to Stokes.
That comes off pcl should benefit from a huge sp price re-rating. If it's a duster I suspect it will make it very difficult in the short term for PCl to achieve its goals without mass dilution of interests.
What to do?????? Oh well as someone once said to me
"Fortune favours the Brave"
 

jtb

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Morning all,

Looks like last nights late announcement, concerning potential oil seeps, has got some pulses going this morning?
 

rub92me

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After initial spike seems to stabilise now around 6 cents. PCL has fantastic prospects, however unlocking value from these will be a long process. I have a small holding in the 'I could lose it all or make a multibagger in 3-5 years' category of my portfolio ;)
 
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The deep water drill sites will pose challenges as well as being expensive. The positive for PCL is that energy heavyweight Origin seems to be activily searching for a farmin partner for this project. 60mil for two wells (PCL carried through) it will need to be another industry major. This sat oil seep map is a bait on a big hook and with the poo at the minutek a feeding frenzy may occur. Very good news for holders
 
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Massive targets though and being free carried by ORIGIN for a couple of wells is a huge bonus

Watching for now

p.s. any idea when/timeframe for wells?
 

jtb

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p.s. any idea when/timeframe for wells?
Origin chasing farmin partners atm bro' so nothing firm yet.
Watching also, interested to see whether the latest ann' brings anyone out of the woodwork.

Much prefer PCL to FAR for this type of play myself.

Cheers
 

rub92me

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FAR announced on 18 june the planned timing for when Stokes Bay will recommence (in August). A bit strange that the other JV partners with a bigger stake (e.g. PCL, EMR) didn't even find this worth announcing to the market:confused:.
 
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Origin still committed to Kenya by look,with 3D seizmic planeed for this year & possible drilling 2010. Prospects are massive multi billion barrel targets. Apparant active oil seeps in the area should help excite market pre drilling. Hopefully we'll see some progres soon on Malta prospects as well, long drawn out saga there, but I buy for long term so I'll continue to top up on any weakness.
 
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Starting to see some very nice movement here. Will be good to see something formalised after the 3D.. Still a while to go before we get to strap in for a drill but very happy with some of my accumulation earlier in the year.
 
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3D seismic completed.

See company report.

Share price starting to move.

I do have a small parcel of shares in the compnay.
 
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Good to see a small support building at this level.
It has been under pressure of late.
Still hanging in there to see what the Kenya 3D's bring.

What do you guys think ?

I do have a small parcel of shares in the company and I'm holding them for now.
Nothing ventured, nothing gained.

10/02/2010

Last Trade 0.032

Today's Change +0.001
 
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Small support is right. You could halve or double the SP for 60k (a bit of a guess but not far off I'm sure).

Most ppl are waiting for the 3d results and an ann on the next move. Maybe something at Banayas in the meantime?

Saying that there is more and more East African oil and gas coverage in the press atm. Sure to stimulate some interest over time.
 
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Looks like your right CapnBirdseye , the stock went for a bit of a spin today on very little turnover.

Opened at 0:037 then taken for a ride down to 0:029 before coming back up a little. Still think that 0:035 ( or lower if you can get some ) is a good buy in level for this one. :rolleyes:

Fingers crossed for those 3D results:bier:
Should be less than 30 sleeps now before we know something I guess :sleeping:
 
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