# NGE - NGE Capital



## adobee (26 October 2007)

This may be interesting, 

Prospectus on the following link:
http://www.ngenergy.com.au/images/prospectus.pdf
Closing date 31st October 2007


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## cicak_kupang (4 January 2008)

Just reading through the prospectus atm.  Think i will keep this one on my rader for a while, and just see what comes of it.
Initial sp of 25c on issue, now back to low 20 range.
Any one else following this one????


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## mexican (4 January 2008)

cicak_kupang said:


> Just reading through the prospectus atm.  Think i will keep this one on my rader for a while, and just see what comes of it.
> Initial sp of 25c on issue, now back to low 20 range.
> Any one else following this one????




Got it on watch as well. Does look promising, but I am a bit concerned with NG itself, as it can be a volatile country sometimes.


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## Wysiwyg (30 January 2008)

mexican said:


> Got it on watch as well. Does look promising, but I am a bit concerned with NG itself, as it can be a volatile country sometimes.




Yeah for sure on the high risk oiler here i.m.o.Especially around PPL 266 in which Conoco found water saturated reservoirs.Also the wildcats in the greenfields will be right up there for risk.

They are going to want success at Tarim PPL 269 (near ok tedi mine) to lower their overall risk rating i.m.o.The `seeps` in PPL 267 may prove up a reservoir but they still want more seismic on that plot before drilling.

Mr. John Towner has experience starting up companies so he may see this company onto a solid footing before moving on. 



> John Towner has experience in the resources industry combined with knowledge of public company capital raising and finance. He has a background in taking oil and gas industry assets from start to public listing, as exemplified by companies such as *Sydney Gas Ltd* (Director from 1999 to 2000) and *Sunshine Gas Limited *(Chairman from 2002 to 2003), both of which he founded and are listed on ASX. He was also instrumental in the restructuring of Anzon Energy Limited (2000 to 2001), a company that is now carrying out oil exploration and production in South-East Asia. In May 2004, John formed *Ord River Resources Limited*, a minerals exploration entity, and listed that company on ASX in March 2005 and he remains Chairman of that company.*John is the founding Chairman of NGE.*




These gents have to prove their worth if anything comes of  NGE.Sure have the ground experience.Actually the team looks quite professional AND experienced.



> Mr Darryl Herrington (Chief Operating Officer, *Drilling Engineer*)
> 
> Darryl has worked  as a project manager and drilling engineer for a number of
> companies including Shell Canada, Unocal, dominion Oil and Agip Oil (Italy).
> ...




and 



> Mr Francis Waina has worked in PNG and Australia (*Exploration* *Manager* – PNG)
> Francis the oil and gas industry in both for more than 13 years. He has obtained degrees from the University of Papua New Guinea and the University of Queensland and has experience in structural interpretation of the fold belt play, well site activities and petrochemical interpretation.




and



> Dr Dan Kendrick Dan (Consultant) has over 15 years experience in the field and has worked as a structural geologist for numerous companies including Chevron Nuigini, BP, BHP Petroleum, Oil Search, Exxon Mobil, ONGC, Shell, Unocal and Woodside. *He has considerable on-the-ground and modelling experience of both Papua New Guinea and Irian Jaya.*




Share price in line with company progress at the moment (and the general market activity)Worth a watch i reckon.

This PDF of NGE PRESENTATION is 4.20 MB so if your slow or tight for gigs, then you know.


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## propergeez (9 May 2008)

NGE has had a very nice run lately .096 to .16 in a week on no announcement. Admin costs (1.3M - 1Q) seem a little high but it is their first quarter with money since float so hopefully they are paying off their dues and it gets to a sensible amount next Q. 

They have been building up interest at a lot of conferences around the world  and hold a huge 53,000KM2 of license's in PNG. 

With Oil predicted at $200, if NGE do partner up for drilling and they find some who knows where the SP could go.


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## Go Nuke (30 March 2009)

Anyone else out there opened their eyes after cringing from the ecomonic meltdown, take notice of NGE again?

IMO this company is flying under the radar!!

Huge amounts of land in PNG.
Close to exsisting wells run by OSH (I think from memory)
Just announced fast tracking the drilling for a possible 187Mil barrels of oil.
About to announce a JV partner any day!


The smart money has been in PNG for ages....now this is time for a junor to take off.

Ive kept an eye on this stock since it came on the ASX. IMO someone has been looking to offload 000,000's of shares, mostly on 100K parcels.
Over the past week, the sell keeps dumping them and the buyer keeps buying them.
Someone is gobbling up alot of these shares (and Im envious)

Its possible the seller is Mr Towner.
He has 77Mil shares in the company and left recently. I mean I dont think he's selling out.....I think if you have that many shares, why not sell a few to buy yourself a new Rolls or something

Heres something interesting too.

NGE's largest holder in Mandolin PTY LTD. @17.29%
Mr Towener is a director of Mandolin.
Mandolin, in July 2008 was caught up in all that Opus B.S and sold 12.5Mil shares in ORD (OrdRiver Resources).
Now Im not sure if that money went to Mandolin, or if it was ANZ who took it...that would require more research
Interesting connection anyway

I could find nothing on the second biggest holding Asia Image Limited. @6.29%

The third larest holder is a Print and Internet publisher to the mining, oil & gas and related sectors<----What the?? I could be wrong. Or there could be a director on their board who's on NGE's.

The big thing for me is that someone has been buying them all up.

As to who that is....Insto.probably not..yet. Though when did they jump into CVN?


Today was great.
Big volume, and a close OVER 6c again.

Good stuff 

Disclaimer I do hold though no way near enough for my liking)


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## prawn_86 (30 March 2009)

After the whole FNT fiasco i personally will not invest in PNG explorers again. The PNG gov needs to be more encouraging to explorers imo.


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## Lucky_Country (30 March 2009)

NGE is definately in a prime position in the oil and gas rich PNG.

PNGLNG would certainly love additional resources for its plant and NGE would certainly be able to help there.

New jvp should be out very very soon and it could be exciting and a big kick for the sp.


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## maxpen (31 March 2009)

Has anyone read the annual report that has been released
mmmmmmmmmm like reading a spy novel lol


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## J.B.Nimble (1 April 2009)

Go Nuke said:


> Anyone else out there opened their eyes after cringing from the ecomonic meltdown, take notice of NGE again?
> 
> IMO this company is flying under the radar!!




I knew nothing of them before seeing the announcement but it all made immediate sense - a micro-cap with a 187million barrel prospect, on shore, close to existing port, proposals in hand from prospective farm-in partners, etc etc. 

Worth a punt - added a few more today.


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## Lucky_Country (1 April 2009)

Lots and lots of upside potential for this one.

NGE has enviable acerage on a world class petrochemical province.

PNGLNG will just be the catalyst for futher development and NGE will have the resources for any expansions or other developments.

I see the money being paid for 2nd rate CSM stocks which make me wonder what is NGE really worth ? 

NGE has some serious oil prospects which none of the CSM stock will ever have and China only consumes 9% of the worlds oil at the present I doubt that will last !

This one could really suprise on the upside !!!!


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## UPKA (1 April 2009)

with less than $2m cash in the bank, NGE needs a cash rich farm-in partner soon... otherwise it'll get nowhere, especially in PNG...


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## Lucky_Country (1 April 2009)

UPKA said:


> with less than $2m cash in the bank, NGE needs a cash rich farm-in partner soon... otherwise it'll get nowhere, especially in PNG...




They still have a loan facility for $2.5 million available @ 10% repayable July 2010 that should see them through until the good times are back and oil price recovers above US$75.

Once confidence returns to the market then the offers will come thick and fast on better terms than currently available.

Id rather be in than out !!


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## UPKA (1 April 2009)

Lucky_Country said:


> They still have a loan facility for $2.5 million available @ 10% repayable July 2010 that should see them through until the good times are back and oil price recovers above US$75.
> 
> Once confidence returns to the market then the offers will come thick and fast on better terms than currently available.
> 
> Id rather be in than out !!




$4.5m in oil exploration is really just peanuts, many many appraisal wells need to be drilled to determine the size of the field, like i said NGE will need to get someone big, e.g. OSH on board to have any significant progress


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## Lucky_Country (1 April 2009)

Like I said the $4.5 million should see them through until better economic conditions return.

When they do the big oil and gas players will be forced to pay better terms to get a fair share of the NGE acerage and that would include drilling of appraisal wells.


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## Go Nuke (3 April 2009)

J.B.Nimble said:


> I knew nothing of them before seeing the announcement but it all made immediate sense - a micro-cap with a 187million barrel prospect, on shore, close to existing port, proposals in hand from prospective farm-in partners, etc etc.
> 
> Worth a punt - added a few more today.




Ahhhh so are you the 1 buying those pacels of 30 -50K :>

psst...lets work together and get those sellers at .061 to come down to .058 
Im joking. I'll prbably get a knock on the door soon...

If you do that then it might be only you and I buying rofl.

Good stock with upside to come. BUT they are tradionally late in making announcements.
Hope they can change that.


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## Go Nuke (3 April 2009)

Go Nuke said:


> Anyone else out there opened their eyes after cringing from the ecomonic meltdown, take notice of NGE again?
> 
> IMO this company is flying under the radar!!
> 
> ...




This is strange....

Guess what company Mr Andrew L Kent is an Executive Chairman on..Aspermont Limited...what do they do....The company is a publisher of mining, engineering, construction and home building.

Im willing to bet that its been Mr Kent buying!


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## Lucky_Country (3 April 2009)

Well it looks like NGE is getting the team onboard ready for some action.

Farmin partners are probably coming back with better offers now oil price is up and market sentiment is slowly growing.

Lets hope Andrew Kent give NGE alot of publicity !!!


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## J.B.Nimble (4 April 2009)

Go Nuke said:


> Ahhhh so are you the 1 buying those pacels of 30 -50K :>
> 
> psst...lets work together and get those sellers at .061 to come down to .058
> Im joking. I'll prbably get a knock on the door soon...




Yes, I might account for a few of them... I'll be looking for dips to add a few more - got some nice profits coming out of Nido that deserve another oily home...


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## Go Nuke (6 April 2009)

Somebody just keeps taking chunks out of the sell side.

Personaly I think its one of the directors or their companies.
Now we just have to wait and see if that 200K+ sell order at .061 gets taken out.

Ive noticed that the sellers aren't budging on price but would think a retracement in the DOW and XAO is comming which might provide that dip your looking for.

Lucky_Country, i dont expect to hear anything about a JV anytime soon. (as in weeks not months )

So far NGE hasn't had the best track record at keeping time with their announcements.

I'm a bit sus on all these guys with media connections on the board....doesn't instill me with alot of confidence....but I hold so I must see some upside top the company


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## Lucky_Country (9 April 2009)

Trading Halt for significant capital raising !!

Does this mean more shares on issue or a deal for a farmin partner has been reached ?


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## J.B.Nimble (9 April 2009)

Lucky_Country said:


> Trading Halt for significant capital raising !!
> 
> Does this mean more shares on issue or a deal for a farmin partner has been reached ?




If it was a farm-in partner they would be shouting it from the roof tops. No, they want more cash - yours and mine to be precise. Not that this is a bad thing - it will cost 5 mill USD to put a hole down and I would rather see them do their farm-in deal on their feet rather on their knees.


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## Lucky_Country (9 April 2009)

Now would they be able to raise a "material" ammount from a share placement ?

Companies need shareholder approval for an issue of over 15% of existing shares so doing the maths 75 million shares x 6c only equates to $3.75 million.

Would they really go into a trading halt for almost a week for a shareplacement ?

Only time will tell but a farmin deal could be a company maker and the right terms.


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## Go Nuke (10 April 2009)

Interesting info here....

http://www.smh.com.au/news/business...00-times-outlay/2007/04/17/1176696835454.html

Old article but always good to have as much info as possible.


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## Go Nuke (10 April 2009)

Gee nothing at all suspicious about the large amount of buying thats been going on...right before a trading halt.

I might consider pointing ASIC in the direction of NGE if I'm not happy with the ann or the way the sp reacts.

Don't get me wrong, I like the tennaments that NGE have, but after reading that last article about the Towners and the strage connection to media people and companies....something just isn't sitting right for me.

Continue to hold a very small parcel though, so limited down side for me.

DYOR


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## Lucky_Country (10 April 2009)

Towners and Aspermont have a large ammount of shares vested in this company the last thing they are interested in is the company failing.

I feel at some stage the current management team will be moved on for the development stage and more up to date team will take over.

The new capital raising maybe a good thing for the shareprice and give the company stability and further bargaining power for a farmin partner.

All good imo


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## Go Nuke (11 April 2009)

Ive yet to really see a share placement (if thats whats coming) do much good for a stocks sp.

In fact whilst it can do in the short term depending on when you have to be holding the stock to take part in the placement.....Ive noticed the the sp usually gets hammered after the ex fate.

However I guess BOW was the first stock ive seen to ann a cap raising and their sp NOT get hammered after the closing date of the rights issue.
But that whole sector has been really heating up lately (AOE etc etc).

Unless as you say, its the announcement of a another company coming into play...but I could class that as a JV notice which is clearly not the case as stated in the announcement the other day.

On the upside though, I would think that its only a matter of time perhaps before OSH may farm into NGE.
NGE's tennaments back onto some OSH producing fields I think, so theres a cheap way for OSH to gain access to possible researves upgrades.

Its only a matter of time before goes up again.

http://www.oilsearch.com/Our-Activities/PNG/Kutubu.html


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## Lucky_Country (11 April 2009)

I think in todays market the certainty of a capital raising is looked upon as a positive giving the company needed capital to continue operations.

I too think that deals are now back on track and its only a matter of time before NGE gets a farmin partner at their asking price that will really give the shareprice a boost.


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## Go Nuke (13 April 2009)

So Lucky_Country, do you have any negatives or concerns about this stock?

You just seem so bullish on it, I'm starting to think your on the board of directors 

As for the announcement, I'll be working tomorrow, so probably wont get to see what it is or what happens till I get home.

Bit of a bummer that.


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## wantok (23 April 2009)

check out what's happening in adjacent acreage

http://ca.news.finance.yahoo.com/s/...wood-energy-enters-farm-agreement-ppl260.html


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## Go Nuke (27 April 2009)

wow thanks for that Wontok

It seems Eaglewoods PPL260 backs onto NGE's PPL277. 

Oil search are the go imo.

PNG is so unexplored and the next place to take off as far as investments go.


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## wantok (29 April 2009)

The acreage Oil Search farmed into (ppl260) also abuts NGE's PPL269 near Juha as well as 277. I wouldn't be surprised to see some more interest in the entire area soon.


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## Go Nuke (4 May 2009)

Jeremy Towner has passed away over the weekend!!!

I'm a bit worried about what will happen to his 77Mil shares in NGE.

If they get sold off the sp will tank hard!

Anyone know what happens in this situation?
Do the shares get passed onto the wife?

Not good news all round!


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## J.B.Nimble (11 May 2009)

Moving up nicely in spite of last weeks tragic news. There is a fair amount of movement amongst the oil juniors at the moment but this doesn't seem one to move with the herd. I have a sense that something is up here. Anyone heard anything?


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## sandybeachs (14 May 2009)

Go Nuke said:


> Jeremy Towner has passed away over the weekend!!!
> 
> I'm a bit worried about what will happen to his 77Mil shares in NGE.
> 
> ...




hi go nuke

this is a huge loss to the company and whoever they get as new M.D they'll have some very big shoe's too fill.

i've spoken with and had a number of emails over the past year or so with Jermery, i've always found him extremely polite and very very helpful.

one would guess he would leave any assets held in his name too his family, especially his wife.

in terms of farming out it's assets, NGE have a very short list. lets hope they can announce something very soon, market conditions haven't helped with the process.


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## Go Nuke (18 May 2009)

I'd still like to know more info on this company Asia Image Limited which hold over 10% of NGE.

Mr Towner was to ring me in regards to this question but I have had to put that on hold for obvious reasons.

Can ANYONE shed some light on this company?????


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## Go Nuke (18 May 2009)

wow people haven't been able to get out of this stock fast enough lately.

Promises of news and JV that have stretched out far too long is why imo


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## J.B.Nimble (18 May 2009)

Go Nuke said:


> wow people haven't been able to get out of this stock fast enough lately.
> 
> Promises of news and JV that have stretched out far too long is why imo




Volumes are tiny. Illiquid. Fast to rise. Fast to fall. Good pointer to future prospects - blue sky or oblivion, take your pick. I'll hang around for the blue sky and won't lose sleep about the other.


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## Real1ty (19 May 2009)

J.B.Nimble said:


> Volumes are tiny. Illiquid. Fast to rise. Fast to fall. Good pointer to future prospects - blue sky or oblivion, take your pick. I'll hang around for the blue sky and won't lose sleep about the other.




Agreed.

Markets selling off, Oil price predictions becoming bearish and negative sentiment returning all adds up to weakness in this type of stock.

I'm in at .056 and if it heads back down again, i will most likely top up with some more.

It's a boom or bust.


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## J.B.Nimble (19 May 2009)

Real1ty said:


> Agreed.
> 
> Markets selling off, Oil price predictions becoming bearish and negative sentiment returning all adds up to weakness in this type of stock.
> 
> ...




If it is a boom it will be noticed...
PPL267 Panakawa P50 estimated oil in place =187mmbbl
Active surface seeps
NGE 100%
Estimated cost to drill 5mill USD
One km from Panakawa wharf - cheap to develop
If we get a hit and assume 40% recovery then we're looking at 75mill barrels of oil for a very modest investment. 
NGE current market cap - 488mill @0.06 = 30mill 
Nice odds...


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## Lucky_Country (21 July 2009)

Well what a great deal worth approx $100m with a oil and gas major reportedly Talisman !!!

6 wells included sesmic surveys and NGE still retain 30% of PPL 268 and PPL269 a further deal maybe for PPL267 all are very prospective tennaments in a world class area.

Throw in a drill rig at competitive rates and NGE to go it alone on the ramaining acerage things are lining up for a great great company.

DYOR


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## haggis (17 August 2009)

I see the sp is bouncing around the 10c mark. Does anyone have info on drill rig tenders, re farm in partner. Not much info on the company website.???


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## J.B.Nimble (18 September 2009)

Luverrly announcement. This has been so kind to me They've got the right farm in partner and what a deal - enough cash comes in for them to drill the juicy target of Panakawa 100% by themselves... Interesting coz it is almost identical to the deal anounced in the HOA agreement some time back - since then there has obviously been a lot of discussion about a buy in to PPL 267 but in the final wash up the deal has been done and they have hung on to PPL267 - suggests NGE held the whip had in the negotiation and Talisman wanted in regardless. 

And of course Talisman have got the deep pockets to be a potential bidder for more than just a farm-in interest.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aW8TNvjex25M 

It will be interesting to see where this goes betwen now and year end - going to be a very interesting hole before Xmas. Nice....


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## Shrewd Crude (21 September 2009)

I just looked at NGE and seen that it has 6 onshore permits in PNG which is going to take off because of PNG LNG developments with OSH over the years...
I like the look of this stock...
rare land holding investment opportunity here as all the good blocks have been snapped up...
anyone with any thoughts?

.^sc


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## Lucky_Country (21 September 2009)

They have just done a great deal with Talisman and still kept the jewel in the crown PPL267.

PNG is the place to be close to asia major oil and gas province a great investment.


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## jetblack (21 September 2009)

Shrewd,
Heres a link from Moyes & co.
http://energy.ihs.com/NR/rdonlyres/...013704F/0/II4_Moyes_NAPE_Aug09for_website.pdf

Moyes & co have also done an article prior to the death of J.Tower.

NGE have great onshore areas, this deal with Talisman is strong. PPL 269 Stanley Gas fields they are already pulling Gas from next door.

100% 267.

There are other PPL yet to be farmed. PNG LNG is huge business. Some say the new frontier, nice and tightly held share register.

Articles in todays AFR & SMH.

Been holding this since June , re-rating by mkt, imo a sleeping giant

DYOR.


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## Shrewd Crude (30 September 2009)

jetback,
absolutely...
thanks for the post...
I bought into NGE today at 20cents...
I wrote up some good info, but then it got deleted...
I will post it again this weekend...
wow, This stock is a rare find...

grab anything you can in PNG, set to rip it up with PNG LNG...

.^sc


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## Shrewd Crude (16 October 2009)

opps... I kind of forgot to put the post up here...

here is an overview of New Guinea Energys 6 permits within PNG...In the Paupan Basin where 350 wells have been drilled to date with extensive success makes this a prolific region for LNG expansion (of both reserves and further exploration upside), which has bought on the PNG LNG project.... with International large oil, ASX Large Oil, and a select group of ASX junior oilers set to benefit on a scale not seen by any of these juniors companies...
4 Junior ASX oilers (that I can see) positioned in this region (NGE, CUE, HZN, MOS)...
here is a picture, where I have drawn in NGEs 6 permits...







PNG LNG is set to give big exposure to NGE with its super large portfolio of acerage and most importantly our 2 permits right in the middle of the whole project... (and three other significant, but less important permits off to the west)... and permit PPL 267 with up and coming drilling...

-permit PPL 277 which is the first most northern permit to the Fold belt,
which could be described as a series of 10 plus oil and gas fields, all on trend which will be developed into PNG LNG...

-permit PPL 269, another exciting permit which lies in the upper region connecting to the fold belt through a Dog Leg and surrounded by big discoveries to the North, South and East with potential for the Stanley Gas field overlapping into our permit... (recent Talisman, HZN deal)....
The main reserves surronded by this permit (P'nyang, Hides, Juha North)
compromise the Northern PNG LNG Train, which PPL 269 could be tied into... 
-Permit PPL 267 with oil seeps, and target well named Panakawa...

So basically NGE has two permits right in the sweet spot of the PNG LNG project (PPL 269,PPL277) which SHOULD hold major focus for oil majors NOW as they get themselves positioned to take advantage of full scale development of the region...
Little NGE without reserves, but with a swagga of tasty permits.... oh my.... Ive not seen it like this before... what a treat...



Down the line this investment will really perform from two angles...
1) oil and gas exploration
2) holding strategic assets

The most important thing you must realise is that we dont need to discover oil/gas for NGE to perform... because we are tied into the vast, expansive development of the region, by being positioned with permits right in the middle...

Just like the Queensland Coal Seam Gas industry, the testiment to value behind PNG LNG is hidden in all the transactions/mergers/acquisitons that have taken place to date...
In the last few months these transactions have really blown out, exposing the region in what were previously stranded gas assets
Deals include- the Sasol deal, Oil Search farmins on the back of OSH selling down a small stake in PNG LNG to further expand on underdeveloped exploration targets (which is very good news for the likes of CUE), and of course Talisman- HZN, Talisman-NGE, Talisman-Rift oil... P3GE selling PRL5 to Santos... the list goes on...
Oil Search is set to book 550 million Barrels of oil reserves (BOE) from PNG LNG, and triple its production profile going forward...

In the Picture at the top the Blue Arrow signifies the (roughly drawn) proposed Gas pipeline which will transport gas to an LNG facility 20kms Northwest of Port Moresby where gas will be liquified and shipped to World Markets...

I am hearing that this month, Oil Search is going to announce some further cost cutting initiatives that will come to market... Did you also know that out of all the LNG Projects Worldwide pending Final Investment Decision,
that PNG LNG has the lowest Capex already?
Yes, Ichthys, Gladstone (CSG) capex approx 30% higher...

this is technically not a risky investment...
Front end large returns come from exploration drilling, but it is always good to know that we fall back on PNG LNG as we feed off the developments from the majors in the region as construction begins early next year, followed by mecca production 2013...

Oh my,
Over the last few years I have not been rampant about too many oilers...
This is one to seriously rampage about...
These sorts of investments do not come around very often at all... Sure there will always be returns to be made on the sharemarket... BUT, not like this...
This story, and the whole Queensland CSG story comes on a totally new level... Since when should there be such things as a low risk 5 bagger?...
low down, big up....

Gone were the days when one needed to invest in high risk, high cost, offshore (eg WA at the moment taken off)... A small window of opportunity over the next few years has presented itself, just as large as offshore drilling, but on a whole new risk level as the costs are lower...

Make sure you get positioned in PNG, and make sure you get positioned in the Queensland CSG...
These stories only get bigger and better...

 ... wow... I still cant really believe we are positioned right there with a market cap of what 80 million?
on a project that will earn trillions of dollars...
and we roll with the big boys who get the job done...
There will be no mistake about that...
im in at 20c, thinking of loading up in a serious way...
I might just have to average down or up...

I would seriously love to post my price prediction of what this should be trading at in a few years...
but im not sure I can...
think about it...

.^sc


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## Putty7 (18 November 2009)

> Announcement of Capital Raising – Share Placement
> 
> Total Raised $18.5 million
> 
> ...




Just wondering why this thread has gone quiet, they have had a successful cap raising at .165c, SP dropped to .18c and bounced back to .195c, with drilling coming up in December-January on a huge resource, think the value is calculated at somewhere around $5.00 per share value, the assets this company hold are massive, great farm in deal on 2 blocks, PNG LNG is looking good to go forward in the same area, don't know if I am missing something I should be seeing other than the fact it is in PNG, holding at .188c.


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## Putty7 (18 December 2009)

> Just wondering why this thread has gone quiet, they have had a successful cap raising at .165c, SP dropped to .18c and bounced back to .195c, with drilling coming up in December-January on a huge resource, think the value is calculated at somewhere around $5.00 per share value, the assets this company hold are massive, great farm in deal on 2 blocks, PNG LNG is looking good to go forward in the same area, don't know if I am missing something I should be seeing other than the fact it is in PNG, holding at .188c.




Bit red faced so far over this one, the SP never held up it's end, bouncing between .13c and .14c at the moment, topped up today at .135c to bring the average down, the fundamentals haven't changed, they should announce a drill soon I would think, was scheduled for December originally so waiting patiently on the announcement, huge drill target on their 100% owned block and close to a wharf so production facilities should be easily catered for if they have success.


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## Go Nuke (6 January 2010)

Im suprised more people don't follow this stock on ASF.

It has alot going for it longer term. Though the latest announcement was a bit of "so what" from my point of veiw. Obviously the market thought so too.

Guess things will saty quiet until drilling begins....whenever that will be...2010 sometime.

Really not happy about those incentive options (rights) the directors just gave themselves.
I totally voted aginst that rubbish.

Lets see what 2010 brings us NGE holders.


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## SuperGlue (25 February 2010)

Go Nuke said:


> Im suprised more people don't follow this stock on ASF.
> 
> It has alot going for it longer term. Though the latest announcement was a bit of "so what" from my point of veiw. Obviously the market thought so too.
> 
> ...




We'll looks like NGE SP is making its move now & stay that way (hope)..... having secure a drilling rig, expected to commence in early second quarter.

http://www.asx.com.au/asxpdf/20100217/pdf/31nr2gs2hcf9xp.pdf

Can't do much for the incentive options, they all do it.


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## SuperGlue (25 February 2010)

NGE got a speeding ticket & please explain.

Definitely not me, after posting the article, your honour.


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## Putty7 (29 May 2010)

NGE have the Panakawa drill coming up this month (June), they have alluded but not stated or announced that they may drill a back to back drill at Panakawa North which is 9 kms away from the Panakawa prospect. 

At present the vessel to carry the drill and associated gear is in port in Townsville and should be loaded and sailing for PNG at 5pm tommorow.

Spud date is yet to be announced but around the middle to end of June would be likely.

Seismics for some of the other areas are due in soon, probably June/July.

Talisman is to drill 2 wells before the end of 2010 on the 2 farmin blocks and should be announced soonish.

50 million shares (at 20% discount) were approved at the last agm for a capital raising so they may be out and about soon although I would think they will wait for the spud rise and release them accordingly.

The Panakawa well is long awaited with it originally due in December 2009, it will be good to see it go down, the prospect of Panakawa North may also get drilled due to cost savings and having a rig available which seems to be a problem in PNG with a shortage of drill rigs. Yet to be announced but I would think if they are going to drill it they would announce it soon. 

The oil samples from the seeps at Panakawa look to be light crude so a find should put us in the good oil so to speak.


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## J.B.Nimble (29 May 2010)

NGE has multiple opportunities for high reward over the next 6 to 12 months. Being the eternal optimist, I am expecting this on the first well...Based on months of study I have resolved not to have a contingency plan in the event of a less than spectacular result. Nuts? Possibly... but if we get a hit the "gone fishing" sign will go up on my office door...


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## haggis (31 May 2010)

NGE SP had a bit of a jump today, to a high of $0.245, and finished at $0.22.This was after an ASX announcement that the CEO/Director bought 500,000 shares on market.Worth about $104,000
Maybe an announcement on the drill rig being landed tomorrow.
Keeping a keen eye on this first hole, and crossing fingers for a bit of success first up.Huge potential in the next 6 months


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## Putty7 (6 June 2010)

Drill rig that is going to drill Panakawa should be going through customs in port Moresby by now, from there it is to go directly to Panakawa, expect an update this week or next week regarding rig movements and possible spud date of Panakawa.


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## Putty7 (10 June 2010)

Latest update, the drill rig has arrived onsite at the Panakawa prospect, not sure about the relevent gear that is to go with it but I would expect a spud date announced shortly.


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## haggis (11 June 2010)

Attached  is the latest Company announcement on the rig. Looks like about 700 tons of gear are travelling with it.


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## haggis (11 June 2010)

OOPS.forgot to put the other announcement on detailing the 700 tons. No detail on what parts make up the weight.
	

		
			
		

		
	

View attachment 01069560.pdf


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## haggis (25 June 2010)

Drilling update.
The hole is already under way and at approx 37 metres-see Attached.

Watch out for the 50,000,000 oppys to be dumped on the market after this announcement


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## skivvy (9 July 2010)

Have been watching this stock for the last few months and have accumulated stock between 17 and 18c.  Today they released a drilling update which shows progress of 366m for the week to a depth of 717m.  The release mentioned encountering zones of uncosolidated boulders and that a series of cement plugs were set in to stabilize the hole.  Does anyone know if this is an issue which could effect the drilling or is it normal to encounter these problems when drilling new wells.  

I have been searching the net for any news on nge and how the prospects look for similar projects in the area.  Look forward to hearing any views on the prospects of this wildcat.


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## Buckfont (9 July 2010)

skivvy said:


> Have been watching this stock for the last few months and have accumulated stock between 17 and 18c.  Today they released a drilling update which shows progress of 366m for the week to a depth of 717m.  The release mentioned encountering zones of uncosolidated boulders and that a series of cement plugs were set in to stabilize the hole.  Does anyone know if this is an issue which could effect the drilling or is it normal to encounter these problems when drilling new wells.
> 
> I have been searching the net for any news on nge and how the prospects look for similar projects in the area.  Look forward to hearing any views on the prospects of this wildcat.




Similar projects in the area near NGE I`m not sure of but this new listing coming up may may be in the same ball park.

Newport Energy Ltd is due to list on the ASX on 29th july 2010. at an issue price of 0.25c per share

http://view.email.investsmart.com.a...61277&jb=ffcf14&ju=fe24157576610c79751c79&r=0


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## Putty7 (9 July 2010)

skivvy said:


> Have been watching this stock for the last few months and have accumulated stock between 17 and 18c.  Today they released a drilling update which shows progress of 366m for the week to a depth of 717m.  The release mentioned encountering zones of uncosolidated boulders and that a series of cement plugs were set in to stabilize the hole.  Does anyone know if this is an issue which could effect the drilling or is it normal to encounter these problems when drilling new wells.
> 
> I have been searching the net for any news on nge and how the prospects look for similar projects in the area.  Look forward to hearing any views on the prospects of this wildcat.




When you drill a hole in the ground, you need water pressure sent down through the drill rods to flush the debris clear of the bottom of the hole so the drill bit can keep chewing into the new rock, dirt, sand, clay whatever unimpeded.

When you enter broken or fractured zones the water will tend to invade these areas rather than return to the surface and you will lose water pressure, when you lose water pressure the debris can not be evacuated back to the surface effectively and the hole can not be cleared, this ends up with rods getting stuck or bogged down.

This appears to be the case but without being there I do not know this for certain. What they have done is cemented the zones that are thieving the water to shore them up and make them solid, they then drill through and go again, very time consuming and the reason for slow drill progress through the Darai zone.

It also ensures the casing is solid and the integrity of the hole remains sound.

It is a wildcat so even though they have stated depth zones they are best guestimates, the drill bit will tell all as it goes through, hence it is an appraisal well in a new area and if they have success it will set the benchmark for the following wells in relation to geology and what they will expect to encounter.

I think the last place this rig was drilling it averaged around 100 metres every 24 hrs, so if the geology becomes a bit more forgiving the drill rates should be increased by the next report which should be next Friday.

Hope this answers some of your questions.


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## J.B.Nimble (10 July 2010)

skivvy said:


> Look forward to hearing any views on the prospects of this wildcat.




On the risk side - 
5 bbl per day oil seeps are tantalising
the well is fully funded
this is but one prospect in the portfolio with Talisman funding the exploration of many of the others

On the reward side - 
a 100% interest in a 202mmBOE  (mean estimate) discovery would have dramatic impact on the share price of a 123 million mc company.

Stacks up for me...


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## skivvy (11 July 2010)

Thanks putty7, that is very useful information.  I was interested to read your comments about drilling rates of 100m per day at previous well sites.  It has been slow progress on this well and at current rates of approx 50m per day it looks to take longer than the original estimate of 30days to reach total depth of 2323m.  I too will be hoping for improved drilling rates and await the next drilling update next friday.  

Trading  volumes have been light this last week (in line with the broader market) but should increase as the drilling continues and speculation builds.  

I will be watching with anticipation of any updates.


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## maui4marko (12 July 2010)

skivvy said:


> I have been searching the net for any news on nge and how the prospects look for similar projects in the area.




skivvy,  in addition to the Newport offering buckfont mentioned, another junior is LNG Energy (lng.v) who shares a reef prospect with Interoil (IOC).

April 19, 2010
Lng Announces Joint 2d Seismic Acquisition Program with Interoil in Papua New Guinea

----------------------------------------------------- ---------------------------

LNG Energy Ltd. ("LNG") (TSX Venture -- LNG) is pleased to announce that it has entered into an agreement with InterOil Corporation ("InterOil") to acquire 2D seismic on LNG's 100% working interest PPL 319 in Papua New Guinea. PPL 319 lies between InterOil's PPL 237 and the PDLs/PRLs that collectively comprise the licenses of ExxonMobil's US$15Billion LNG export development infrastructure announced on December 7, 2009. The seismic program includes the acquisition and interpretation of a 27km north-south line that is located 50m west of the boundary between PPL 319 and InterOil's PPL 237. The program will be managed by InterOil and logistics have recently commenced, with final data acquisition expected in June 2010.

Based upon a High Resolution Airborne Magnetic ("HRAM") and Gravity survey that was acquired and interpreted by InterOil in 2006-2007 in PPL 237, an anomaly similar to that defining the recent 8 TCF Elk/Antelope reef discovery (approximately 60km due east) has been identified as straddling the boundaries of these two adjoining PPLs. Processing and interpretation of this 27km 2D seismic line is to be performed by Kelman Technologies Inc. ("KTI") based in Calgary, Alberta. Once the interpretation and analysis has been completed, LNG and InterOil will review the data to plan an appropriate path forward for additional seismic acquisition, or a potentially drillable prospect.


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## maui4marko (16 July 2010)

Looking forward to the next Panakawa-1 drilling report (today?).  Also found this picture of the location, clearly indicating the easy access to the drill site.  NGE has also located another drilling prospect just a few kilometers away.

Panakawa-1 proposed well location (red arrow) in log yard of the Rimbunan Hijau Plywood Mill 
pngindustrynews.net/images/ImageEnlarge.asp?strImageFileName=NGE%2Ejpg

Another view of the plywood mill rhpng.com.pg/images/gallery/veneer/OperationsVeneer001.jpg


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## maui4marko (17 July 2010)

*Panakawa-1 Drilling Report 16 July 2010*

16 July 2010
The Company Announcements Office
ASX Limited

*Drilling Report
Panakawa-1 Exploration Well, PPL 267, PNG*

New Guinea Energy Limited reports that at 0600 PNG time the well was at a depth of 1246 metres and preparing to cement the 9.625 inch casing over the Darai Limestone section.  Progress for the week was 529 metres.

Biostratigraphic age dates from claystone samples immediately underlying the basal Darai Limestone confirm penetration of the uppermost Alene Member of the Ieru Formation. Compared to the preferred pre-drill model, formation tops are approximately 325 metres high to prognosis.

The well is targeting sandstone reservoirs in the Toro Formation (primary target) and secondary reservoirs in the Alene and Iagifu member sandstones as well as the Koi Iange Formation. Proposed total depth of the well is approximately 2250 metres in basement.

New Guinea Energy Limited is the sole participant in the Panakawa 1 well as the holder of a 100% interest in PPL 267.

Should you have any queries, please contact the Company Secretary on +61 (0)2 9250 1800.

Lucy Rowe
Company Secretary


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## maui4marko (17 July 2010)

*Re: Panakawa-1 Drilling Report 16 July 2010*



maui4marko said:


> *Drilling Report Panakawa-1 Exploration Well, PPL 267, PNG 16-July-2010*





----- WEEK UPDATE #4 - 55% COMPLETE -----
16-July 0600 PNG time: the well was at a depth of 1,246 metres and preparing to cement the 9.625 inch casing over the Darai Limestone section. Progress for the week was 529 metres, with 1,004 metres (45%) remaining to revised proposed TD of 2,250 metres in basement.

Confirmed penetration of the uppermost Alene Member of the Ieru Formation, 325 metres higher than planned. Reduced TD by 73 metres.


----- UPDATE WEEK #3 - 31% COMPLETE -----
09-July-2010 0600 PNG time: the well was at a depth of 717 metres and drilling ahead in 12.25" hole. Progress for the week was 366 metres, with 1,606 metres (69%) remaining to proposed TD of 2,323 metres in the basement.

The well has encountered intermittent zones of unconsolidated boulders within the cavernous upper Darai Limestone. A series of cement plugs have been set to stabilize the hole. 


----- UPDATE WEEK #2 - 15% COMPLETE -----
02-July-2010 0600 PNG time: the well was at a depth of 351 metres and preparing to drill out the shoe at the base of the 13 3/8” casing. Progress for the week was 351 metres, with 1,972 metres (85%) remaining to proposed TD.


----- UPDATE WEEK #1 - 2% COMPLETE -----
25-June-2010 0700 PNG time: drilling has begun and the well was at a depth of 37 metres. Proposed total depth of the well is 2,323 metres in basement. The well is expected to require approximately 30 days to drill.


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## skivvy (17 July 2010)

drilling rates have improved this week, if these rates continue, target zones will be reached next week and total depth within two weeks.  

Maui, it is likely that they will drill the next well back to back once this well is complete, makes sense to make the most of the rig whilst at site.  

Share price movement this week finished well, with buying pressure building on friday.  Short term down trend has been broken, time will tell if the new uptrend will continue.  The US drop on Friday will test the aussie markets next week and the share price may take pressure.


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## J.B.Nimble (17 July 2010)

Big, big "if". but if they do find oil at Panakawa, well, how much do we think a 100% interest in a 200 mmbbl discovery would be worth?


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## maui4marko (18 July 2010)

skivvy said:


> drilling rates have improved this week, if these rates continue, target zones will be reached next week and total depth within two weeks.
> 
> Maui, it is likely that they will drill the next well back to back once this well is complete, makes sense to make the most of the rig whilst at site.
> 
> Share price movement this week finished well, with buying pressure building on friday.  Short term down trend has been broken, time will tell if the new uptrend will continue.  The US drop on Friday will test the aussie markets next week and the share price may take pressure.




Agreed skivvy.  Presuming all goes well, we will know a lot more two weeks from today.  

Since I'm offshore (island of Maui, Hawaii) in the US, my only option to purchase shares is over the US "pink sheets".  The volume is usually low to non-existent, but this week activity spiked Friday as well (some of that was mine  )

My other PNG stocks held up well with Friday's US drop, including IOC.  They may be getting close to announcing a deal with JV partner(s) which could come in the next few weeks as well.

Hoping to have a rockin' good time in August!



J.B.Nimble said:


> Big, big "if". but if they do find oil at Panakawa, well, how much do we think a 100% interest in a 200 mmbbl discovery would be worth?




According to Bell Potter, Panakawa gas and liquids are worth $0.31.

Martin Place Securities is higher, saying "*Success in PPL 267 Panakawa worth min A$1,058m (A$1.59/share).*" http://www.inhalesuite2.com/uploads/16/documents/MPSNGEFeb2010updated.pdf

State One is the most optimistic with oil @ US$80, they estimate Panakawa hitting P50 is worth A$7.64 per share!  http://www.inhalesuite2.com/uploads/16/documents/StateOneStockbrokingResearchReport.pdf

So it's safe to say, success at Panakawa will result in a minimum 2-3x share price bump up to a wildly optimistic 4,000%!


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## J.B.Nimble (18 July 2010)

maui4marko said:


> So it's safe to say, success at Panakawa will result in a minimum 2-3x share price bump up to a wildly optimistic 4,000%!




It is interesting to read these reports again to understand the very different numbers they arrive at. Something in the middle of these numbers would be very nice indeed. One way or another the "chance of success" factors should be equalised in a couple of weeks. The wait is almost over...


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## skivvy (18 July 2010)

Maui, I read the MPS report a few weeks ago on the prospects of NGE and find it a little confusing, they use two different valuation methods: the first is Exploration risk adj valuation - for the top 20 leads ($0.75 per share or $0.83 with cash)
The 2nd method is Major Project Production‐based Valuation with this current well PPL267 worth $1.59 per share.  
Not wanting to sound sceptical here but MPS have a vested interest in writing positive material about NGE and I hope they are right.  
I am not sure what the upside will be if they find oil here, it all depends on the reservoir size and a the quality of the find.  The current analyst outlook from four different brokers is between $0.45 to $0.50cents per share.  Based on the technicals my initial price target is $0.29 but a significant find at 267 will be worth much more than that........I am holding this share for the medium to long term with the prospects from other drilling at 268 and 269 still to come, Talisman will be a great partner in these ventures.


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## maui4marko (19 July 2010)

skivvy said:


> I am not sure what the upside will be if they find oil here, it all depends on the reservoir size and a the quality of the find.  The current analyst outlook from four different brokers is between $0.45 to $0.50cents per share.  Based on the technicals my initial price target is $0.29 but a significant find at 267 will be worth much more than that........I am holding this share for the medium to long term with the prospects from other drilling at 268 and 269 still to come, Talisman will be a great partner in these ventures.




skivvy, we're thinking alike.  Agree some of the analyst targets are "a bit" aggressive for me.  I've been invested in PNG companies less than a year, but quickly learned the timetables (no matter what PNG stock) are nearly always too optimistic, not to mention the valuation numbers.

Your target sounds reasonable, based on Panakawa results.  The 35 API oil seeps are compelling, because they indicate a different source than the already proven 55 API finds in the surrounding area.  

Hard to say what to expect in terms of oil quantity, since I haven't seen any of the seismics or other data to indicate reservoir size and characteristics other than the summary estimates.  One technique PNG neighbor Interoil is utilising is to increase their reservoir numbers is horizontal drilling.  

Improvements in seismic and drilling technology are a potential big time game changer.  Could turn what in the past was a non-commercial or marginal producer into a big time money maker.  Haven't heard whether NGE's contracted rig can drill horizontal wells, but the technology and techniques are being used today in PNG.


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## maui4marko (19 July 2010)

July 13, 2010
*New Guinea Energy Moves Ahead With Maiden Well In PNG*

*These are exciting times for investors in New Guinea Energy Limited, which is currently drilling ahead with its first well in Papua New Guinea. This is a go-it-alone venture for the ASX-listed company, which holds 100 per cent of PPL 267 in the South Foreland area of the island, compared to two of its licences in the Western Province Foldbelt where it has bagged Canadian independent Talisman Energy as partner.*

Talisman is chasing major gas resources in PPL 268 and 269 but PPL 267 is home to a different play type, with NGE hoping to strike oil. The well is being drilled into the Panakawa structure, a possible 200 million barrel prospect, which seeps around five barrels of oil to the surface per day. The exciting thing here is not the confirmation of an active oil system but the fact that the oil is 35-degree API, different from the 55-degree API found in the Highlands region and therefore pointing to a possible new oil play. An oil seep, however, doesnt guarantee an oil strike; there are still many unknowns about the viability of the prospect.

More will be known in the coming weeks as the Panakawa-1 well descends to its planned depth of 1,600 metres [Note: should be 2,250 metres]. Last week the well was at 717 metres, having encountered intermittent zones of unconsolidated boulders within the cavernous upper Darai Limestone. A series of cement plugs were set to stabilize the hole, while it targeting sandstone reservoirs in the primary Toro Formation and secondary reservoirs in the Alene and Iagifu member sandstones as well as the Koi Iange Formation.

There is further upside, with a new lead delineated just 10 km from the Panakawa drill site. Whats more, the lead is in an easily accessible location via existing logging tracks, making it a candidate for a reasonably quick and cost-effective follow-up by PNG standards (some wells in these jungle frontiers are only accessible by helicopter, making for hefty drilling costs).

This is why the Talisman deal was so important for New Guinea Energy. First, the farm-in will accelerate seismic and drilling activities on licences PPL 268 and 269 as the Canadian company has committed to spent over US$100 million over the next two years. Second, it provides third-party endorsement of NGEs acreage from a player that has been at the forefront of 2009s land grab in the country: Calgary-headquartered Talisman has stitched together a serious acreage position in the western province of Papua New Guinea over the course of the last year through a series of acquisitions, corporate deals and farm-ins.

Under the farm-in agreement, Talisman will spend up to US$11 million on seismic and a possible US$90 million on a six well programme to earn up to 70 per cent of PPL 268 and PPL 269. There is certainly enough scope on these licences to keep the Canadian company interested with PPL 269 home to five mapped prospects and 34 identified leads, with both oil and wet gas potential, and the under-explored PPL 268 block on trend with Rift Oils (and, after a US$188 million takeover in 2009, now Talismans) Puk Puk and Douglas gas discoveries. The first Talisman wells under the farm-in agreement are expected to spud in Q4 2010.

The Canadian company has also agreed to co-operate with New Guinea Energy on some of its other licences, most recently by extending the seismic programme over its PPL261 licence into the north-east section of NGEs PPL 266. The seismic programme was completed in early April and results are due in Q3.

It all adds up to a busy timetable for the remainder of the year, with some near-term newsflow due in the coming months from Panakawa to keep investors interested until the big wells with Talisman start spudding in Q4. 

http://www.oilbarrel.com/nc/news/di...-moves-ahead-with-maiden-well-in-png/771.html


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## maui4marko (21 July 2010)

>> Being offshore, I don't know about Macquarie Bank... anyone familiar? http://www.macquarie.com.au  $3M doesn't sound like much...won't even drill one well?!?  Thoughts?

New Guinea Energy to raise $3m in placement to Macquarie Bank

Published 11:20 AM, 20 Jul 2010

    New Guinea Energy Ltd will raise $3 million in a private placement of 15 million shares at 20 cents a share to Macquarie Bank Limited. The issue was approved by shareholders at the company's annual meeting in May.

    The company says the funds will provide additional working capital for its exploration activities.
    STOCK DASHBOARD: July 20, 2010
    NEW Guinea Energy
    Last traded July 19, 2010: 21.0c
    Price change from previous trading day: 5.0%
    Relative Strength (6 months percentile rank): 93.1
    Market capitalisation: $139.9 million
    Turnover volume: 4,246,097.0
    Volume Index (1 is average): 1.9
    Turnover value: $869,833
    Turnover period: 1 year 2 months
    Value of $1,000 invested 1 year ago: $2,283

http://www.businessspectator.com.au...-placement-to-Macq-7J3ME?opendocument&src=rss


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## skivvy (21 July 2010)

yeah bit of a mystery for me as well maui??  $3M is not a large amount and as you say it does not offer much in the way of their ongoing acitivities.


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## Putty7 (21 July 2010)

They still have 35 million shares available to raise additional capital, doing a small cap raising now for 15 million shares hedges against the well being a duster, so they get 3m dollars at a good price of .20c a share for the 15m, considering the vwap was below .20c before the raising was actually done. 

If the well is a success they still can raise with the additional shares, if it fails they have some capital gleaned from the market already so there is no need to hurry for the next one if the sp drops.


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## maui4marko (22 July 2010)

Thanks putty, makes sense.  Let's hope they don't need the dusty hedge, but sounds like a reasonable move.  Does the 3m with cash remaining after this hole get them another well?  Guess we'll know soon enough...should be an interesting drill report Friday


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## haggis (22 July 2010)

They were using a figure of $5million a hole when Talisman signed up for a farm in. 
However, as the next drill hole target site is easily accessible, (approx 10kms up the road on an existing track).
I am just wondering how much of the original cost estimate per hole allowed for chopper transportation of labour and materials???, and road construction/drill rig movement???
Perhaps the 3 mil would be enough to cover the next target?? Any thoughts??


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## skivvy (22 July 2010)

Maui, looking forward to the drilling report tomorrow.  The Dow has opened 1.4% higher and things are looking quite nice in the US so far.  Ben is speaking again in the afternoon so things may taper off a bit during the day.  I will be watching for the drilling report around 11 am tomorrow and hoping for some favourable drilling rates and any news on indications from the drilling.  Should be around 1800 deep by tomorrow.............


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## Datsun Disguise (23 July 2010)

Well punters didn't like this announcement at all - the sp has been punished. Still some objectives to go though and gas was encountered - wire lines still to evaluate those. Plus the juicy stuff is due for drilling later in the year - perhaps a good buying opportunity? Thoughts?


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## maui4marko (23 July 2010)

Datsun Disguise said:


> Well punters didn't like this announcement at all - the sp has been punished. Still some objectives to go though and gas was encountered - wire lines still to evaluate those. Plus the juicy stuff is due for drilling later in the year - perhaps a good buying opportunity? Thoughts?




Well gas isn't exactly bad, but the market wants and loves oil.  Management said we're confident, we want 100% of this well, oil shows, etc. set mr. market's expectation for oil.  Dust disappoints every time.  The 3m was telling after all.

Before coming back for more, I need to know more about the seismics.


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## skivvy (23 July 2010)

yes it was a bad day for NGE holders today, me included.  The prospects of this well are not looking good, and without the oil indications, the sell off was quick and pretty messy to be a part of.  The outlook left a little glimmer of hope with only about 300m left to drill and gas levels to test, but it looks like this well was not the kick start the company needed.

I expect the SP will languish until the next drill report and the plans for the next well and laid out.

Not sure where things went wrong with the target zones, time will tell.......


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## GumbyLearner (23 July 2010)

Do NGE include wireline logs in their reports ? What kind of data do they reveal to investors? Just media releases or actual empirical data ?


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## CapnBirdseye (23 July 2010)

This is the announcement.



> Drilling Report
> Panakawa-1 Exploration Well, PPL 267, PNG
> New Guinea Energy Limited reports that at 0600 PNG time the well was at a depth of 1991 metres
> in 8.5 inch hole and drilling ahead in the Middle Jurassic Magobu Formation. Progress for the
> ...




Interesting to see what happens next week.  If they do have gas and a decent seal, or even find oil in the last 300m, we will see some very red faces.  Not holding my breath though.


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## maui4marko (25 July 2010)

skivvy said:


> Not sure where things went wrong with the target zones, time will tell.......




skivvy - that's why I want to know more about the seismics, and as gumby points out the logs too.



GumbyLearner said:


> Do NGE include wireline logs in their reports ? What kind of data do they reveal to investors? Just media releases or actual empirical data ?




to-date, I haven't seen any seismic or logs in any of their announcements.  I appreciated the timely updates but other PNG drillers provide much more detail, including seismic data and logs.  what you say NGE?



CapnBirdseye said:


> If they do have gas and a decent seal, or even find oil in the last 300m, we will see some very red faces.  Not holding my breath though.




Capn - I'm with you... would love to see data on the gas shows as well, but based on what I've seen, I have no expectations remaining for this well.


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## Putty7 (25 July 2010)

While I am not all doom and gloom it wasn't a great result, the expectancy was oil, it was not there, the sp reacted accordingly. It is now in hope that the gas is not residual.

Earlier in the year they alluded to a second drillable prospect in Panakawa North, 15kms away, to date they have neither confirmed or denied that a second well will be drilled. If Panakawa-1 has gas you would think after the high cost of mobilising a rig to PNG that a second well would be drilled on the same prospect while it is there.

Seismics were due this month, still have not been seen.

Gumby this was their maiden well, I would have thought when they did not encounter oil in the primary zone it would have warranted a market sensitive announcement, apparently not. Just the normal ho hum weekly drill report. This is fine if you are drilling 2 or 3 wells a month like some of the majors but for an explorer on its first well its not much chop, not even a drill diagram to show prospective targets and depths, pretty poor really.

Talisman have their wells coming up, surprising that they are still quiet, I would have thought a spud date for the first one would be announced soon at any rate.


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## skivvy (29 July 2010)

NGE should release the final drill update for the maiden well in PPL 267 tomorrow.  Seismics and wireline logs should be released according to the company secretary, so it will be interesting to see if anything was found or whether the well was a dust discovery.

In regard to the future wells, earlier announcements indicated three wells to be drilled in 2010 and three in 2011.  With the current Ausdrill rig on location in  PNG, my guess is they will mobilize the rig ready to drill another well further up the forelands probably still in PPL 267.  The first well took approx 1month to drill to depth so with only four months left in the year they will need to get cracking to drill those other two wells this year as planned.

Looking for some positive news to end the week. 
Good luck to fellow holders.


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## maui4marko (30 July 2010)

*New Guinea Energy Signs A$25million Equity Facility*

27 July 2010
New Guinea Energy Signs A$25million Equity Facility

New Guinea Energy Ltd today secured a $25,000,000 equity subscription facility with US-Based Investment Fund YA Global Master SPV Ltd (YA Global).

Under the terms of the facility, New Guinea Energy Ltd may, at its discretion, issue shares to YA Global at any time over the next 60 months, up to a total value of $25,000,000. New Guinea Energy Ltd may draw down up to $1,000,000 in any 10 trading day period other than the first advance which will be up to a maximum of $500,000. New Guinea Energy Ltd has not yet activated the facility, and has no obligation to issue any shares until it activates the facility and issues a funding request to YA Global.

Shares issued to YA Global in satisfaction of each advance of funds by YA Global will be priced at the lowest daily volume weighted average price (VWAP) of New Guinea Energy Ltd shares traded on each of the 10 trading days which follow an advance notice by New Guinea Energy Ltd. A commission of 5% of the value of each advance will be payable by New
Guinea Energy Ltd at the time of issue of the relevant shares.

With respect to this facility, Executive Chairman and CEO Mr Michael Arnett said, “NGE is pleased to have established this equity line facility with YA Global however, the Company does not intend to make use of this facility in the near future. With this option available to the Company, we believe NGE is now in one of the strongest funding positions it has ever been in, giving it greater independence and allowing it to maintain its present focus on its
exploration and work program commitments in Papua New Guinea”.

About New Guinea Energy
New Guinea Energy Ltd is an oil and gas explorer, listed on the Australian Securities Exchange Limited and Port Moresby Stock Exchange, holding one of the few available highly prospective, on shore, non-aligned very large acreage positions in South East Asia. With a significant interest in six petroleum prospecting licenses spanning 52,000 km² in Papua New Guinea, NGE is committed to the development of potentially world class petroleum assets.

About YA Global
Managed by US-Based Yorkville Advisors LLC, the YA Global Group of Funds has a solid reputation in Australia for structuring convertible loans and equity participation agreements. To date, the YA Global Group has made available in excess of over $500,000,000.00 for over 30 ASX-listed companies.

>> "the Company does not intend to make use of this facility in the near future"  Any bets on the definition of "near future"?  Want to remain positive on NGE, but my radar is on high alert after the P-1 debacle.


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## Putty7 (30 July 2010)

P-1 RIP

The news last week of no oil in the Toro formation pretty much killed the SP, a few false hopes of gas held it up slightly but now that hope is gone. P-1 is a duster.

YA Global or any other of these vultures getting involved is a warning sign in my opinion. Google "YA Global" for a look at their past form.

Until Talisman have a go not a lot of upside left in the near future.


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## maui4marko (30 July 2010)

skivvy said:


> NGE should release the final drill update for the maiden well in PPL 267 tomorrow.  Seismics and wireline logs should be released according to the company secretary, so it will be interesting to see if anything was found or whether the well was a dust discovery.




30 July 2010
The Company Announcements Office

Drilling Report
Panakawa-1 Exploration Well, PPL 267, PNG

As of 0700 PNG time July 30, the Panakawa-1 well was at a total depth of 2,424m MD in the Magobu Formation and completing a logging and sampling program. Despite the presence of elevated gas readings in a number of intervals, pressure tests have indicated that the target reservoirs contain water.

Preliminary Results
The well encountered well-developed reservoir sands in the Alene Formation in excess of 57m net reservoir averaging 22% porosity (Figure 1).
Reservoir quality sandstones were also present in the Toro Formation within a gross interval totaling 67m.

Petrophysical analysis indicates residual gas saturations of 5-10% in the Alene Sandstone indicating a residual gas accumulation or a transition zone below a nearby gas-water contact. The well was drilled in a slightly off crestal position with limited updip potential for a significant gas cap. Residual gas was also noted in the Toro Sandstone suggesting a combined Alene-Toro historical gas column of up to 150m.

In general, most well developed reservoir sands appear flushed, but residual hydrocarbons persist in the poorer quality sands. Log analysis suggests intermittent zones of immovable hydrocarbons persist across the Upper Imburu Formation. These intervals will be sampled for further geochemical analysis to ascertain the hydrocarbon charge history to assist in future exploration within this licence.

The overall cause of failure of the Panakawa Prospect is the lack of trap integrity due to apparent fault leakage. Hydrocarbons originally trapped at the Panakawa Prospect have not been preserved in commercial quantities. However due to the residual nature only of the hydrocarbons, the Panakawa-1 well will be plugged and abandoned after the completion of the current logging and sampling activities.

Forward Plan
NGE has obtained a number of positive outcomes from Panakawa-1 including;
a) the confirmation of thick, high quality reservoir sandstones at relatively shallow depths;
b) evidence of significant hydrocarbon charge over a number of intervals;
c) the Alene and Toro sands have high porosity yielding residual hydrocarbons; and
d) the residual gas is spread over a 150m interval which suggests a valid trap with a significant hydrocarbon column existed in the past.

NGE still considers PPL 267 to contain significant prospectivity that can be assessed with relatively low-cost follow up seismic acquisition and drilling.

NGE will now reprocess existing seismic data in the block to incorporate the results of the seismic velocity data obtained from the well. Plans for additional seismic acquisition will be accelerated to extend the data to the southeast towards the hydrocarbon source kitchen as well as to advance evaluation of the Panakawa North Lead before undertaking additional drilling activities.

_The information in this announcement that relates to NGE’s resources is based on information compiled by Mr Francis Waina and Mr Dan Kendrick, employees of NGE with over 15 years experience each as practising geologists. 

Mr Francis Waina and Mr Dan Kendrick consent to the inclusion in this announcement of their information in the form and context in which it appears._

Michael Arnett
Executive Chairman

Figure 1. Preliminary petrophysical analysis of the Panakawa-1 Alene Member and Toro Formation reservoir intervals.  

[partial well log]

Note thick sandstones developed in the Alene Member (reservoir quality increases to left on ‘Lithology’ column) and red circled area highlighting residual hydrocarbons, most likely gas.

http://www.inhalesuite2.com/uploads/16/documents/300710 Drilling Report.pdf


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## maui4marko (30 July 2010)

27 July 2010

PPL 277 - Approval of Years 3 & 4 Work and Expenditure Programs and Licence Variation

New Guinea Energy Limited (NGE) is pleased to announce that it has obtained approval from the PNG Minister for Petroleum and Energy for NGE’s Years 3 & 4 work and expenditure programs and variations to its well commitments in respect of its wholly owned PPL 277. As a result of this approval, NGE will commit to spending at least USD16.25 million on this licence.

In this case the approved work and expenditure program for PPL 277 means NGE will commit to this expenditure on the following activities:
● Geological / structural field mapping
● Seismic acquisition
● Drilling of one exploration well.

The licence’s well commitment was also varied to be drilled in Year 5 and 6 of the licence.


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## maui4marko (30 July 2010)

30 July 2010

PPL 265 - Approval of Years 3 & 4 Work and Expenditure Program and Licence

Variation New Guinea Energy Limited (NGE) is pleased to announce that it has obtained approval from the PNG Minister for Petroleum and Energy for NGE’s Years 3 & 4 work and expenditure program and variation to its well commitment in respect of its wholly owned PPL 265.

Under NGE’s approved work and expenditure program for PPL 265, NGE will commit to a minimum expenditure of USD$14.645 million on the following activities:
● Airborne gravity and magnetics
● Seismic acquisition and reprocessing
● Geological and geophysical studies
● Drilling of one exploration well.

The licence commitments of PPL 265 were also varied as follows:
● Inclusion of geological (GG&E) studies toward the minimum expenditure commitments
● Delay acquisition of seismic in this term
● Drilling of one exploration well moved into Year 5 and 6.


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## maui4marko (30 July 2010)

maui4marko said:


> PPL 277 - Approval of Years 3 & 4 Work and Expenditure Programs and Licence Variation






maui4marko said:


> PPL 265 - Approval of Years 3 & 4 Work and Expenditure Program and Licence




Off to happy hour so will analyze these announcements later, on a full belly of Canadian whiskey LOL


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## maui4marko (30 July 2010)

Putty7 said:


> YA Global or any other of these vultures getting involved is a warning sign in my opinion. Google "YA Global" for a look at their past form.




Putty, are you going to stick it out or cut 'n run?  Haven't heard of YA Global, but a quick google as you suggest shows signs of loan shark city.

I'm not getting a good feeling with this management team, but this was a speculative investment for me so think I'll stick it out a while longer in hopes the Talisman wells pay off (I do trust them as a more experienced outfit).  Also, with neighbors Interoil and LNG Energy starting to spike over the pending IOC deals, I'm hoping for some excitement to come NGE's way.


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## Putty7 (30 July 2010)

I was out at .14c. No news after they hit TD was never a good sign and they should have done that by Monday afternoon at the latest.

Might look back later when the sp settles down or before Talisman drill, hard to see the sp holding at the moment.


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## maui4marko (5 August 2010)

*NEW Guinea Energy director buys on-market*

>> Insider buys are usually a good sign... let's hope so in this case.  Good news coming by way of Talisman?!?

NEW Guinea Energy director buys on-market

Published 7:04 PM, 4 Aug 2010

    NEW Guinea Energy Ltd director Michael Norman Arnett directly bought 500,000 shares for $65,358 on-market on August 3, 2010.

    He directly holds 500,000 shares, 25 million incentive options and 5 million incentive rights, and indirectly holds 1,763,333 shares.

http://www.businessspectator.com.au...tor-buys-on-market-7ZCPY?opendocument&src=rss


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## maui4marko (8 August 2010)

>> updated investor presentation, with highlights (lowlights) from P-1:

http://www.asx.com.au/asxpdf/20100805/pdf/31rqy8bwrd0614.pdf


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## maui4marko (18 September 2010)

7 September 2010

Variations to Arrangements with Talisman and Confirmation of Drilling Timetable

New Guinea Energy Limited (NGE/Company) is pleased to announce that it has signed a Heads of Agreement (HOA) with Talisman Niugini Pty Ltd (Talisman) to vary the work programmes for each of PPL 268 and PPL 269 and to confirm the workplan and timetable for these licences.

On 17 March 2010, NGE announced that it had obtained Ministerial approval for the following transfers to Talisman in accordance with the terms of NGE’s Farmout Agreements with Talisman in respect of PPLs 268 and 269:
● Transfer from NGE to Talisman of a 15% interest in PPL 268; and
● Transfer from NGE to Talisman of a 50% interest in PPL 269.

Since that date Talisman has assumed operatorship of PPLs 268 and 269. As part of assuming Operatorship, Talisman has completed a baseline assessment of the exploration potential on both PPL 268 and PPL 269. The blocks contain the major geological structures available in the Western Province of PNG.
● PPL 268 is expected to have “buried hill” type structures similar to structures which have yielded discoveries across the Foreland Basin.  Delineating these structures is critical and the Operator is recommending significant investments in seismic to do so.
● PPL 269 has a Foothills “compressional play” trend across the Block offering structures similar to the Pn’yang discovery. Again, the Operator is recommending significant investments in seismic to fully understand this potential. PPL 269 also contains the “Siphon” prospect which is structurally similar to the PPL 268 play type.

Talisman has stated that they consider PPL268 and PPL269 to be prized licences as part of their gas aggregation strategy in the Western Province of PNG. It is believed the licences hold a Mean Prospective Resource of >2 TCF of gas in PPL 268 and >7 TCF of gas in PPL 269.

As a result of this re-assessment and the recommended increases in seismic investment, the HOA was sought to recalibrate activities and timelines across these two permits. The Operator has approached the PNG Government for variations to enable the completion of these seismic programs prior to completing the wells program. However, the HOA is premised upon the dates currently agreed with the Government of PNG. In summary, the programmes are to be varied as follows:

Variations to PPL 269 Programme:

1. An agreed seismic program of US$6 million comprising 92.3km (including 22km on the Siphon project) will be funded by Talisman and completed by 30 November 2010.  Contingent seismic programs are planned and will be considered by NGE upon completion of this program.

2. The First Well will be spudded no later than 31 January 2011 or such other date as NGE/Talisman may agree and an arrangement is contemplated which could enable NGE to drill the well.

3. Subject to NGE/Talisman agreeing to drill the Second Well as a joint operation, the Second Well must be spudded no later than 30 June 2011 or such other date as NGE/Talisman may agree. Again, an alternative arrangement designed to enable NGE to drill the well.

Variations to PPL 268 Programme:

1. In return for consideration of US$1.2 million, Talisman will move immediately to a 50% working interest in PPL 268. This will enable Talisman and NGE to evenly share the proposed investments.

2. The PPL 268 seismic program of US$8.3 million is to be completed by 30 November 2010. A contingent program is also proposed and will be considered upon assessment of the initial program.

3. Following completion of the seismic program in 2 above, NGE and Talisman will decide whether to proceed with the First Well. If the parties elect to proceed with the First Well, the First Well must be spudded no later than 28 February 2011 unless agreed otherwise.

Coral Sea Rig

Talisman has agreed to make available to NGE the Coral Sea rig for up to a notional 2 well program in each of NGE’s wholly owned PPLs 265 and 266. Talisman will deliver the rig to the agreed mobilisation point upon receipt of 60 days’ notice from NGE.

Exploration Fund Account
A key element of this HOA is the establishment of an Exploration Fund Account to be established by Talisman for possible investment in NGE prospects or additional interests. The establishment of this Account will enable Talisman to utilise any funds owing by NGE, such as in respect of the PPL 266 seismic program and use of the Coral Sea rig, towards possible future investments in NGE interests.

Mr Michael Arnett, Executive Chairman of NGE said with respect to the execution of this Heads of Agreement, “I welcome Talisman’s enthusiasm and keen interest in PPL268 and PPL269 and look forward to success in the joint exploration of these two licences. That successful outcome will be shared by both our shareholders and the people of Papua New Ginea alike”.


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## maui4marko (18 September 2010)

finally a bit of good news... sounds like Talisman has seen something they like


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## maui4marko (18 September 2010)

Arnett threw down $110K for 1M shares on Sept 9th... rolling the dice on the Talisman news perhaps?!?

http://203.15.147.66/asxpdf/20100910/pdf/31sfqst8j09nq0.pdf


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## maui4marko (18 September 2010)

>> a summary of the Talisman update... gotta luv the "prized" NGE licenses

Talisman to operate and fund 'prized' New Guinea Energy licences

Published 10:53 AM, 8 Sep 2010

    New Guinea Energy Ltd announced on September 7 that it has signed a heads of agreement with Talisman Niugini Pty Ltd to vary the work programs for each of PPL 268 and PPL 269 and to confirm the workplan and timetable for these licences in the Papuan Basin, Papua New Guinea.

    Talisman, which has farmed in for a 15% interest in PPL 268 and a 50% interest in PPL 269 and has assumed operatorship, considers the two licences to be prized assets, holding a mean prospective resource of 2 TCF of gas in PPL 268 and 7 TCF of gas in PPL 269.

    As a result of this re-assessment and the recommended increases in seismic investment, the agreement was sought to recalibrate activities and timelines across the two permits.

    An agreed seismic program for $US6 million ($A6.6 million) comprising 92.3 km will be funded by Talisman and completed by November 30.

    Contingent seismic programs are planned and will be considered by New Guinea Energy on completion of the program.

    The first well shouldbe spudded by January 31.

    For consideration of $US1.2 million Talisman will move to a 50% working interest in PPL 268.

    The PPL 268 seismic program of $US8.3 million is to be completed by November 30, 2010.


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## Datsun Disguise (12 October 2010)

Just some commentary on NGE, after a period of consolidation b/w 10.5 - 12c there's been a move up to 13.5c today - no news yet but perhaps something pending. Maybe the bginning of the seismic program - only 7 weks to get it done.


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## maui4marko (13 October 2010)

D2 - NGE has been getting some discussions with regard to the Talisman farmout on the Interoil board on yahoo.  This is from Malum Nalu's PNG blog:

Tuesday, October 12, 2010
NGE looking at six new wells despite shares fall

By PATRICK TALU

NEW Guinea Energy (NGE) says its shares price fell after the high impact Panakawa well failed to find oil, The National reports.

However, a revised deal with joint venture partner Talisman Energy means three to six exploration wells could be drilled next year.

In a statement, RBS Morgans Ltd analyst Nik Burns said at the current share price, NGE would make an inexpensive acquisition for someone looking to expand its position in PNG.

“We view the NGE shares price as over-sold and rate it as a speculative buy, target price to A$0.21,” Burns said.

The high impact well was drilled in third quarter this year, but failed to intersect oil.

On a positive note, the well did intersect a structure with a viable reservoir, and the well was drilled for under US$11 million.

But this did not protect the shares , which fell to as low as US$0.10.

NGE has renegotiated the terms of the Talisman deal to PPL 268 and 269.

At least three wells are now expected to be spudded by June 30 next year.

In addition to this, NGE is progressing plans to drill up to three additional wells in its other foreland blocks.

 “PNG is relatively under-explored and is highly prospective for oil and gas with attractive fiscal terms on offer,” Burns said.

There should be plenty of news flow on drilling activity and results, beginning next January, he said.

http://malumnalu.blogspot.com/2010/10/nge-looking-at-six-new-wells-despite.html


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## 56gsa (8 December 2010)

Announcement today seems to have given NGE a lift:



> New Guinea Energy Ltd (“NGE, Company”) is pleased to announce that it has reached agreement to raise AUD $20,184,559 million by way of private placement of 165,447,205 shares at AUD $0.122 per share to Quantum Partners LP, a private investment fund managed by Soros Fund Management LLC.




Good volume today and if it breaks through the 14.5 / 15 area could take a run at 18 / 21  (todays trading not on chart almost 10m btw 13.5 and 15)


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## maui4marko (9 December 2010)

56gsa said:


> Announcement today seems to have given NGE a lift
> 
> Good volume today and if it breaks through the 14.5 / 15 area could take a run at 18 / 21  (todays trading not on chart almost 10m btw 13.5 and 15)




nice find 56... Soros has also invested heavily in IOC's neighboring property.  Would luv to see your 18 to 21 prediction come to fruition.

PPS may also be getting a beneficial lift from the press surrounding the PNG conference this week in Sidney, along with the other PNG petroleum & mineral players.


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## 56gsa (9 December 2010)

maui4marko said:


> nice find 56... Soros has also invested heavily in IOC's neighboring property.  Would luv to see your 18 to 21 prediction come to fruition.
> 
> PPS may also be getting a beneficial lift from the press surrounding the PNG conference this week in Sidney, along with the other PNG petroleum & mineral players.




Cheers Maui - seems Soros is bullish for Exxon as well which is driving all this excitement in PNG re oil and gas ...



> (4 May 2010)  Exxon Mobil Corporation ("ExxonMobil") looks like a good bet to outperform the market long-term for investors expecting either higher oil and gas prices, global economic growth, geopolitical crisis, or a long-term decline in the value of the dollar. Apparently, Warren Buffett and George Soros share the belief of higher oil prices in the not too distant future, both Buffett’s and George Soros ‘s SEC Forms 13-F for the quarter ended December 31, 2009,included ExxonMobil.
> The positions of Buffett and Soros in Exxon are logical considering that ExxonMobil’s currency is oil and gas and that currency may be a better long-term hedge against depreciation of the U.S. dollar than gold and the hedge pays a dividend.




Still good volume today but would like to see NGE close above 15 to generate some momentum higher...


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## 56gsa (16 December 2010)

Nice close today for NGE - at 15 ... not quite the 15.5 but this news may be the catalyst that sees it push through ... anyone seen what happens to shares that list on the OTCQX ??



> New  Guinea  Energy  Ltd  (“NGE”) is  pleased  to  advise  that  it  has  today  commenced  an American Depositary Receipt  (“ADR”) program  on OTCQX  International  under  the  symbol “NGELY”.  Each  ADR  represents  50  ordinary  shares  listed  on  the  Australian  Securities Exchange under the symbol “NGE”.NGE’s, Executive Chairman, Michael Arnett said “New Guinea Energy’s listing on the OTCQX will provide the Company with  more exposure to US investors interested in the Company via a US local market. Recent interest in the Company by a US Fund Manager has proven that there is significant interest in the Company in the US and this listing will facilitate easier access for further US investment. The Board of NGE is very pleased to have started the Company’s ADR program trading today€.


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## dogeatdog (20 December 2010)

56gsa said:


> Nice close today for NGE - at 15 ... not quite the 15.5 but this news may be the catalyst that sees it push through ... anyone seen what happens to shares that list on the OTCQX ??




I've been following this thread for the past month or so, and have read back from the first post.
Not yet a share holder, but will buy in early January if conditions are right for my portfolio.

The proposed exposure to the OTC market in the US may not effect the sp, based on the fact that there will, more than likely be very little trading volume.
For comparison, Linc energy would be an example, which is an Australian based company that also trades on a similar basis in the US.


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## maui4marko (21 December 2010)

56gsa said:


> anyone seen what happens to shares that list on the OTCQX ??




56 - the volume is quite low on this pink sheet ADR, so don't really see it having much of an impact on the PPS.  However, I'm glad they listed there bc otherwise those of us in the states wouldn't have access to the shares.


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## maui4marko (21 December 2010)

dogeatdog said:


> The proposed exposure to the OTC market in the US may not effect the sp, based on the fact that there will, more than likely be very little trading volume.




dog - agree with your assessment.  George Soros buying a chunk of the company has a much bigger impact.  Plus, with the XOM and IOC LNG projects, the PNG profile is raising and getting more ww exposure.

Just curious - why are you waiting until Jan to enter a position?  Is it a timing event with the stock, or having more to do with your purchasing funds?


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## dogeatdog (21 December 2010)

maui4marko said:


> dog - agree with your assessment.  George Soros buying a chunk of the company has a much bigger impact.  Plus, with the XOM and IOC LNG projects, the PNG profile is raising and getting more ww exposure.
> 
> Just curious - why are you waiting until Jan to enter a position?  Is it a timing event with the stock, or having more to do with your purchasing funds?




I'm still a little concerned with the current macro economic conditions.
Sovereign debt, the Korean situation, etc.
Plus I prefer not to hold too many positions over the Xmas, and new year periods.
I certainly see PNG as a speculative buy maui4, and MR Soros has a much better track record than I 
IMHO


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## 56gsa (6 January 2011)

Finally pushed through the 15.0 cents and closed at 15.5 with sales at 16.0 ... volume on the rise (5m) so looks like it could test the resistance in this area and break through 16...


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## skivvy (19 January 2011)

NGE has finally pushed through resistance at 16c on nice volume, from a t/a perspective a bounce off 16 cents up to 18 cents would be the next move.  I do like it when a stock converts a previous resistance level into a support level.


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## maui4marko (20 January 2011)

skivvy said:


> NGE has finally pushed through resistance at 16c on nice volume, from a t/a perspective a bounce off 16 cents up to 18 cents would be the next move.  I do like it when a stock converts a previous resistance level into a support level.




skivvy - looks like a nice breakout up to 17 from that 14.5-15.5 range its been stuck in... perhaps news-driven?!?  http://hfgapps.hubb.com/asxtools/Ch...ma1=20&pma2=20&volumeInd=9&vma=0&TimeFrame=D1


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## skivvy (20 January 2011)

yeah not sure Maui on what is pushing this one up again but definitely more liquidity again recently and trading volumes have been picking up.  The resistance level of 18c will be a challenge but in time it will be taken out as well.  I have picked up some more shares with the break of resistance at 16c, but am still down after taking a hit when they didnt find any hydrocarbons with the first well.  With Soros onboard and the revised farm out deals with Talisman this stock still offers an opportunity for some nice gains, albeit as a speculative investment as is with most explorers.  Time to get drilling.


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## maui4marko (22 January 2011)

skivvy you're right, time to get drilling!  PPS might be warming up due to the upcoming drilling campaign.  Talisman is contracted to start drilling on its PPL 268 & 269 farmouts by Jan 31st.  Might be good timing to dump in some more mad money LOL.


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## maui4marko (22 January 2011)

*10 reasons to buy now*

1) Strong PNG position
NGE has interests in 6 onshore exploration blocks and a farmin agreement with Talisman (subsidiary) for an equity stake in PPL 268 & 269. Talisman is on the hook for a significant seismic campaign and the drilling of up to 4 exploration wells. NGE is conducting seismic campaigns across most of its permits in 2011 and is expected to drill between 3 & 6 wells in 2011.

2) Share price below fair value
The NGE share price cratered after Panakawa 1 hit dust, but has since started to recover with news of Soros' investment and the upcoming drilling campaign.

3) Drilling activity/impact
By Jan 31st, NGE & Talisman kick off an aggressive drilling campaign in blocks PPL 268 & 269. Plenty of news coming soon, hopefully with continued share price performance. Any find would quickly result in higher pps, some estimates say another 13 cents / share.

4) Talisman
Our JV partner has been aggressively looking for gas to supplement it's existing 2.5 tcf. Multiple LNG and FLNG opportunities will require plenty of feedstock.

5) More deals to come
NGE has 4 blocks in which it still has a 100% interest. NGE has previously said it'd be interested in farmouts at the appropriate time. Deals would result in:
a) a free carry on future exploration activities, and/or
b) accelerated drilling

6) Low cost operator
NGE is now a successful driller in PNG.  It acquired a rig from Australia, drilled a well onshore, and returned the rig to Australia all for under $11m, a noteworth achievement.  It has now demonstrated it has the capability to handle future drilling activities where it will be operator.

7) Potential for corporate activity
An increased level of interest in PNG oil with XOM, IOC, Talisman, Horizon, Sasol, floaters.  Heck even Oil Search needs to expand.  

8) Attractive terms & environment
All the usual good reasons with PNG tax, close to Asia, energy tailwind, etc etc 


0) Key risks
Probability is expected to be less than 50%, some say 25%.  Likelihood of an individual well failing is high, as Panakawa painfully pointed out.  Global turmoil and financial environment could do them in.  On the other hand, would Soros watch one of his investments go down the toilet without intervention?  High risk ~ high reward.


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## 56gsa (22 January 2011)

Nice action this week maybe as a result of the Soros investment - how long will this keep pushing tho?  not sure what news will drive further rises - no new drilling until the dry season which means March-April...   could see consolidation around 16-18 level and perhaps test support at 15 ...


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## 56gsa (22 January 2011)

*Re: 10 reasons to buy now*



maui4marko said:


> 3) Drilling activity/impact
> By Jan 31st, NGE & Talisman kick off an aggressive drilling campaign in blocks PPL 268 & 269. Plenty of news coming soon, hopefully with continued share price performance. Any find would quickly result in higher pps, some estimates say another 13 cents / share.




Maui - missed these  points before i sent last message -  glad to see there's some news potential - can drilling start this early?



> 4) Talisman
> *Our* JV partner has been aggressively looking for gas to supplement it's existing 2.5 tcf. Multiple LNG and FLNG opportunities will require plenty of feedstock.




do you work for NGE?  or just a loyal investor?


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## maui4marko (23 January 2011)

*Re: 10 reasons to buy now*



56gsa said:


> Maui - missed these  points before i sent last message -  glad to see there's some news potential - can drilling start this early?




56 - not sure if they can actually start, as you pointed out the wet season.  I'm going on the Sep announcment "The First Well will be spudded no later than 31 January 2011 or such other date as NGE/Talisman may agree..." https://www.otciq.com/otciq/ajax/showFinancialReportById?id=40660

so I guess there is an out if they both agree to a new date



56gsa said:


> do you work for NGE?  or just a loyal investor?




lol not an employee, just a very interested investor


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## maui4marko (23 January 2011)

*Re: 10 reasons to buy now*

Also, want to point out that should NGE/Talisman agree to drill on PPL 268, the 1st well must be spudded no later than February 28, 2011 and a 2nd well in PPL 269 must be spudded no later than 30 June 2011.  

That would be the 3 minimum projected, which could be as many as 6 if everything goes well.


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## skivvy (29 January 2011)

Unable to break that 18c level this week but still holding above the support at 16c with consolidation around the 17c level.  The sp looks to be building up leading to the spudding of the next well which is something that BESBS player trades on.  Buyers are still present and numbers look ok, bring out some drilling news please Lucy and we will move back up through the next resistance at 18c.


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## skivvy (1 February 2011)

Any thoughts on the corporate presentation and quarterly released over the last few days?  I felt they were mixed with delays on drilling in PPL 268 and 269 due to flooding being the big disappointment.  The corporate presentation didnt show anything new, other than work is continuing on the seismics and locations for the wells to be drilled with Talisman.  Getting a little impatient with the management team at NGE, poorly handled the results from the 1st well and not a lot of fresh news in the latest releases.  The share price has improved considerably over the last few months and one should not complain but it is a little frustrating with no results coming out.


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## maui4marko (7 February 2011)

skivvy - latest announce says TLM has opted in on Siphon-1 based on the seismics they did along with the HZN jv over Sepalosiphon 2nd half last year. Appears they like what they see and have been able to fine tune the location based on the seismic data. One could speculate they envision similar results to the Stanley-2 well, and in fact will be using the same rig. Parker 226 is currently drilling a sidetrack on Stanley-2, and once complete with that well will be moved to the Siphon-1 location.

Someone said the pps could be stuck here for a while, and I agree that's a possibility, at least until 2Q when they spud Siphon-1.  What are your thoughts... a good time to accumulate prior to another run at 18 when drill news starts flowing?

http://www.asx.com.au/asxpdf/20110204/pdf/41wlj1jwv3bxf9.pdf

http://member.afraccess.com/media?id=CMN://4A228764&filename=20110203/HZN_01147894.pdf


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## skivvy (7 February 2011)

Maui, I personally am waiting for an update on the rig movements and estimation on drilling dates before buying more of NGE.  The delays in drilling due to flooding and lack of updates from the management team have frustrated me with this one and I am trading other positions atm, until things start to heat up again prior to spudding.  The sp has held up above support of 16-16.5c but as I thought could not break through the 18c resistance level, yet...............

I agree Talisman appear keen to drill ppl269 due to the potential of the continuation of the formation drilled with Horizon.  It appears Stanley 1 & 2 are going to be quite productive and time will tell if NGE can find similar payloads in its large acreage as well.  Still holding.


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## skivvy (8 February 2011)

Huge volume today on NGE about 116.5 million shares traded, three trades were for 110million at 17c which were S1 XT trades which is some sort of cross trade.  Pushed through resistance, touched 18.5c and closed at 18c with buying pressure looking strong again.  Not sure on what caused the big volume spike today, time will tell.  Unsure about the S1 XT trades, any ideas??


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## maui4marko (9 February 2011)

skivvy said:


> Not sure on what caused the big volume spike today




skivvy - one possible cause is Monday's Eaglewood drilling news.  Not sure on the S1 XT trades though... those are big numbers, a big boy positioning perhaps?

Monday, February 07, 2011

Eaglewood Energy jumps on condensate rich gas discovery in Papua New Guinea

Junior oil and gas explorer Eaglewood Energy (TSX-V:EWD) jumped more than 40% in afternoon deals following the announcement of a discovery at the Ubuntu-1 well in Papua New Guinea.

Ubuntu-1 well is located on Petroleum Prospecting License 259, some 17 kilometres east of the Ketu and Elevala gas condensate discoveries. Eaglewood is the operator of the License, holding a 40% participating interest in the Ubuntu Area and a 90% interest in the rest of the 259 License.

The Canadian junior confirmed that the well intersected at least 10 meters of net gas bearing Elevala Sandstone from 3,305 meters.  Wire line pressure testing of the sandstone confirmed a condensate rich gas gradient, and also suggested that the sandstones are of “good quality and will flow gas and condensate”.

Eaglewood further noted that the gradient was similar to nearby offset wells Elevala and Ketu, “suggesting that the gas could have similar properties.”

The well also failed to hit a water contact, opening up the potential for additional gas discoveries below the newly discovered net pay zone.

“At this time, wireline pressure testing and sampling are continuing in order to establish the full extent of the hydrocarbon column and to recover hydrocarbon samples from the reservoir for further testing and analysis,” the company further noted to investors.

Brad Hurtubise, CEO of Eaglewood Energy said the discovery would help the company better interpret additional seismic acquisitions planned for other prospects in the vicinity.

“...we are acquiring [seismic] over the numerous other prospects we have in the vicinity of Ubuntu and the existing PRL 5 discoveries and to attract farm-in partners to drill some of these prospects. The proximity of Ubuntu-1 to the Ketu and Elevala discoveries on PRL 5 some 20 kms away enhances to opportunity for a coordinated gas condensate development in the area.”

http://www.proactiveinvestors.com/c...-gas-discovery-in-papua-new-guinea-12096.html


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## skivvy (11 February 2011)

No Maui the volume was due to Soros exchanging his 160 odd million shares with HSBC and Credit Suisse over the last couple of days.  I sold half my holding at 18.5c and moved it into LNC to increase my holding there until the news on drilling ppl 269 is released.  I really like what is happening with LNC atm and have spread myself across them, Samson and Sundance Energy over the last few months.  Havent given up on NGE, just getting frustrated with the lack of information and action.


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## skivvy (11 February 2011)

Sorry it was Macquarie Group not HSBC, slip up there, sorry.........


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## 56gsa (12 February 2011)

skivvy said:


> No Maui the volume was due to Soros exchanging his 160 odd million shares with HSBC and Credit Suisse over the last couple of days.




What do you read into this skivvy - i thought soros would be in for the long haul but they've obviously just taken a small profit and run?


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## maui4marko (12 February 2011)

or 56 could it be just juggling between funds?  Would think if they bailed we'd be taking a beating


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## maui4marko (12 February 2011)

56 & skivvy, looks like Soros dd an equity swap with Macquarie.  Shrewd move as it means he retains voting control.  Perhaps TLM is sniffing around?

They also upped the equity facility from last July by $15M to $40M. Four+ years access to money, exploration or war chest either way get it while you can.

I'd say both are positive events.


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## skivvy (14 February 2011)

yeah not sure about the move by Soros or his motives, but all in all not really a reason to change my position in the stock long term, just a little curious like you are Maui.  I dont care much about the extension of the funding to $40 million, but I would rather have seen the option go to shareholders by way of a raising, than funding through YA Global.  Give the shareholders a go at putting some money into the future drilling and exploration activities first, is my preference. I for one would purchase more shares at a discount to current prices if the option presented itself, but it hasnt and probably wont now. They have $40 million available if they want it and unfortunately our shares get diluted if they do issue more stock to YA Global.  Another reason why I am frustrated with management at NGE.  

Glad I took some money off the table for now as it looks like support at 16c is going to be tested.  Still holding and looking forward to those spud dates on ppl269.


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## maui4marko (1 March 2011)

>> there's a new presentation out with these highlights:

Potential to fast track production by participating in the Stanley Gas Development with new seismic and drilling at Sepalosiphon in PPL269

2011-12 program includes up to 6 wells & significant seismic


Seismics & Drilling Activities

2010:
1) Seismic completed on PPL266 1Q
2) June/July drill Panakawa-1 in PPL267 - duster

2011:
1) Seismic completed on PPL269 Feb 2011
2) Seismic targeted to complete on PPL268 1Q
3) Spud Siphon-1 (PPL 269) 2Q 2011
4) Identify drilling target on PPL266
5) Seismic program on PPL265
6) Identify 2nd PPL267 drilling target using Panakawa data

2012:
1) Drill PPL265
2) Drill PPL268 (2011?)


"NGE will be a major contributor and partipant in the Western Province gas aggregation program"

http://asx.com.au/asxpdf/20110301/pdf/41x4hqtx323f15.pdf


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## Agentm (10 March 2011)

8 March 2011

The Company Announcements Office

ASX Limited

PURCHASE OF HELICOPTER RIG

New Guinea Energy Limited (NGE / Company) is pleased to advise that it has entered into a purchase agreement to acquire an OIME SL 7 1000 HP Helicopter Rig (Rig) for use in its
operations in Papua New Guinea (PNG).

The Rig is an established heli-portable design, optimised to move with a medium-lift
helicopter in loads of less than four (4) tons. It is a basic, mechanically powered (rather than electric) rig and therefore well-suited to PNG conditions. When fitted with a top-drive, it will represent the best balance between portability and capability for drilling in much of the PNG Foreland. By right-sizing and standardising camp and support components, it will be possible to move the rig in an efficient, and extremely cost-effective manner throughout the Western Province of PNG.

Over the next 3 years, there will be an unprecedented level of drilling activity in PNG for
intermediate depth wells of between 1800 and 3000m. During this period, planned wells in
the Western Province amongst companies expected to drill multiple wells, currently total not less than 12 wells.

The total cost of the Rig will be US$7.1 million.

The Rig will be owned by a Company to be established in PNG to be called “Western Drilling Limited” (Western Drilling), in which it is proposed the Company will initially hold a 50% interest. Once the operating and ownership details of Western Drilling are finalised, further details will be announced.

Executive Chairman, Mr Michael Arnett, stated today “I believe that the purchase of the SL7 rig and the establishment of Western Drilling Limited will be of great benefit to NGE both now and into the future from a financial, operational and technical perspective.
NGE takes its obligations to the people of the Western Province of PNG very seriously and looks to support the growth of employment generating industries in the Western Province. It is hoped that Western Drilling will become an important contributor to that objective.”


i saw NGE present at the excellence in oil and gas conference, i spoke long with them on the NG ops, and particularly on rigs. availability, access etc

happily holding this share as i saw some brilliant presentations on png oil exploration, if i can get the slides up i want (still hunting them down)  i will post them.

my view on the nge share is very upbeat for 2011

good luck to all holders


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## maui4marko (11 March 2011)

Agentm said:


> The Rig will be owned by a Company to be established in PNG to be called “Western Drilling Limited” (Western Drilling), in which it is proposed the Company will initially hold a 50% interest. Once the operating and ownership details of Western Drilling are finalised, further details will be announced.




Agentm - any ideas who the other 1/2 owner of Western Drilling will be?  Some rumors of Sasol and/or Talisman floating around.

Also, looking forward to the presentation if you can find it.  Agree could be big things waiting in the wings on this one.


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## Burnhard83 (27 June 2011)

Bit quiet at the moment. Was surprised by the Soros move. Thought they had sold everything? Maybe someone can explain the equity swap thingy? I read here, that they have retained voting rights some how...

Just read this... new 'loan'/'bond'?

http://www.reuters.com/finance/stocks/NGE.BE/key-developments/article/2330606


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## haggis (2 September 2011)

Looks like we may get some sort of a result on siphon 1 drilling, in the next week . latest announcement attached, as of the 29/8/11
View attachment 01211860.pdf


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## haggis (7 September 2011)

Strong gas signs on the way to the TD 10000 to 30000ppm. latest result attached


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## RP_Automotive (7 September 2011)

haggis said:


> Strong gas signs on the way to the TD 10000 to 30000ppm. latest result attached




Looking good, I've been a long time lurker on NGE. Finally bought in this morning, small parcel but we'll see how it goes!

The next 1-2 weeks as they set the liner, complete drilling, start logging etc will be interesting!


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## Agentm (12 September 2011)

12 September 2011

The Company Announcements Office
ASX Limited

Drilling Report

Siphon-1 Exploration Well, PPL 269, PNG

New Guinea Energy Limited reports that at 0600 PNG time, Monday 12 September, the well was at 3,794m MD in the upper Alene Member of the Ieru Formation. A 7' liner has been successfully run to depth, cemented and checked for pressure integrity.

Planned operations are to test the BOP (blowout preventer), pickup the 6' assembly and run in hole prior to drilling ahead through reservoir during the next 2-3 days.

The main reservoir target is the Toro Sandstone predicted at approximately 3,870m MD.

Prognosed total depth of the well is 3,975m MD in basement.

The Siphon - 1 prospect is a wet gas prospect located in PPL 269 in Papua New Guinea. It is a fault-bounded, north-south elongated basement drape structure, adjacent to and at approximately the same subsurface depth as the Stanley - 1 discovery in PRL 4.



NGE announced some huge pressure issues and a lot of condensate class of gas

its been up to 13 pounds of mud weight before they could not keep the well controlled enough and were forced to put in a 7' liner before drilling ahead into the primary zone

very encouraging reports, and imho a discovery is highly probable from this point

good luck to all holders


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## RP_Automotive (12 September 2011)

Agentm said:


> 12 September 2011
> 
> The Company Announcements Office
> ASX Limited
> ...




Good to see the liner operation has gone smooth. Drilling in PNG can often be very challenging. For those who are interested, 13ppg mud weight @ 3700m equals a hydrostatic weight of 8203.9psi. So with a bit of a safety factor in there they were probably fighting formation pressures of at least 6000psi,which aint bad at all. Obviously they're not in the target formation yet but if the target formation pressure are anywhere near that it's looking good!

Does anyone know if NGE are going to flow test this well, or will it simply be logged and then the next well drilled for evaluation?


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## dogeatdog (13 September 2011)

RP_Automotive said:


> Good to see the liner operation has gone smooth. Drilling in PNG can often be very challenging. For those who are interested, 13ppg mud weight @ 3700m equals a hydrostatic weight of 8203.9psi. So with a bit of a safety factor in there they were probably fighting formation pressures of at least 6000psi,which aint bad at all. Obviously they're not in the target formation yet but if the target formation pressure are anywhere near that it's looking good!
> 
> Does anyone know if NGE are going to flow test this well, or will it simply be logged and then the next well drilled for evaluation?




Thank you for the technical analysis Auto. I'm unable to answer your question, and wish to ask what folk following this thread, think a possible share price could reach, if a successful find is achieved?
I hold under 100,000 shares.


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## System (5 June 2017)

On June 5th, 2017, New Guinea Energy Limited changed its name to NGE Capital Limited.


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