# EGO - Empire Oil & Gas



## krisbarry (9 October 2004)

EGO – Empire Oil

HI All, 

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

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

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

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

(EGO) SHOULD I BUY STOCK?

Kris


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## RichKid (10 October 2004)

*Re: EGO- (Empire Oil) SHOULD I BUY STOCK?*

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

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

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


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## krisbarry (10 October 2004)

*Unsure*

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

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


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## Bonk (10 October 2004)

*Re: EGO- (Empire Oil) SHOULD I BUY STOCK?*

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


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## Mofra (10 October 2004)

*Re: EGO- (Empire Oil) SHOULD I BUY STOCK?*

Kris,

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

Good luck


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## RichKid (10 October 2004)

*Re: EGO- (Empire Oil) SHOULD I BUY STOCK?*

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


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## krisbarry (11 October 2004)

*Going to buy stock*

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

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

K


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## krisbarry (14 October 2004)

*EGO (empire Oil) NEWS*

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

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


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## krisbarry (15 October 2004)

*Re: EGO- (Empire Oil) SHOULD I BUY STOCK?*

Update...

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


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## the.j (20 July 2005)

*Re: EGO- (Empire Oil) SHOULD I BUY STOCK?*

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

asx release 

Any comments?

Cheers
J


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## mime (20 July 2005)

*Re: EGO- (Empire Oil)?*

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


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## the.j (29 July 2005)

*Re: EGO- (Empire Oil)?*

100%....

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


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## yogi-in-oz (21 November 2005)

*Re: EGO- (Empire Oil)?*



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

Hi folks,

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

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

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

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

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

From previous post, on 16092005:

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

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

At least 3 wells scheduled for EGO in coming months.

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

happy days

   yogi

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


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## Porper (21 November 2005)

*Re: EGO- (Empire Oil)?*



			
				yogi-in-oz said:
			
		

> WARNING ..... astrostuff ahead .....
> 
> Hi folks,
> 
> ...





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

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


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## yogi-in-oz (29 December 2005)

*Re: EGO- (Empire Oil)?*



Hi folks,

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

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

happy new year

    yogi


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## Ann (29 December 2005)

*Re: EGO- (Empire Oil)?*

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


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## yogi-in-oz (29 December 2005)

*Re: EGO- (Empire Oil)?*



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

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

thanks again

   yogi


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## yogi-in-oz (23 February 2006)

*Re: EGO - Empire Oil*



Hi folks,

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

happy days

  yogi



=====


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## YOUNG_TRADER (9 March 2006)

*Re: EGO - Empire Oil*

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

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

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


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## yogi-in-oz (9 March 2006)

*Re: EGO - Empire Oil*



Hi folks,

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

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

Looking ahead EGO key dates may be:

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

      27032006 ..... minor cycle

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


happy days

  yogi


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## YOUNG_TRADER (9 March 2006)

*Re: EGO - Empire Oil*



			
				yogi-in-oz said:
			
		

> Looking ahead EGO key dates may be:
> 
> 13032006 ..... negative (finance-related) ???
> 
> ...





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

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


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## yogi-in-oz (18 April 2006)

*Re: EGO - Empire Oil*



Hi folks,

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

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

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

happy trading

  yogi


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## kr1zh (5 May 2006)

*Re: EGO - Empire Oil*

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

currently drilling at 212 m at CARNARVON basin. 

any prediction?


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## yogi-in-oz (9 May 2006)

*Re: EGO - Empire Oil*



Hi folks,

EGO Enters into Farmin Agreement with Asia Pacific Energy

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

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

happy days

yogi


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## jonty (10 May 2006)

*Re: EGO - Empire Oil*

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


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## yogi-in-oz (6 June 2006)

*Re: EGO - Empire Oil*



Hi folks,

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

happy days

 yogi


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## yogi-in-oz (19 July 2006)

*Re: EGO - Empire Oil*



 Hi folks,

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

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

----- 

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

 -----

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

happy days

   yogi


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## Ken (7 December 2006)

*Re: EGO - Empire Oil*

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


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## yogi-in-oz (8 December 2006)

*Re: EGO - Empire Oil*



Hi Ken,

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

    13122006 ..... minor news expected

    15122006 ..... another minor cycle here.

    18122006 ..... minor cycle

    22122006 ..... strong rally (?)

    28122006 .... positive spotlight onEGO

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


Hi folks,

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

..... and looking ahead:

28-29112006 ... major negative cycle expected here

04122006 ... negative news espected.

07122006 ... minor

18122006 ... 2 difficult cycles here.

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

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

24012007 ... minor and finances ...

happy dayz

yogi

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


Hi folks,

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

..... and looking ahead:

28-29112006 ... major negative cycle expected here

04122006 ... negative news espected.

07122006 ... minor

18122006 ... 2 difficult cycles here.

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

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

24012007 ... mino and finances ...

28122006

happy dayz

yogi


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## Trader Paul (28 June 2007)

*Re: EGO - Empire Oil*



Hi folks,

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

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

happy days

  paul



=====


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## Sweet Synergy (26 July 2007)

*Re: EGO - Empire Oil*

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


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## Sweet Synergy (26 July 2007)

*Re: POTENTIAL BREAKOUT Alerts*

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


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## Sweet Synergy (26 July 2007)

*Re: POTENTIAL BREAKOUT Alerts*



Sweet Synergy said:


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




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


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## Sean K (26 July 2007)

*Re: POTENTIAL BREAKOUT Alerts*



Sweet Synergy said:


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



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

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

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


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## UPKA (27 July 2007)

*Re: EGO - Empire Oil*

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


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## kevinecom (28 July 2007)

*Re: POTENTIAL BREAKOUT Alerts*



kennas said:


> If this breaks 9 then put your granny's house on it!!! When it break 1c sell both your wife's kidneys and put them on it. When it breaks 1.2 cents, you'll be really old....LOL
> 
> Seriously though, they are about to be involved in a significant drilling campaign, and if it comes off, could seriously re-rate the company. Check ARC thread for detail.
> 
> Here's an assessment of what it might be worth to them:




Kennas,
Just a quick question, what do you think of stock analysis? I'm thinking of subscribing


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## Sweet Synergy (28 July 2007)

*Re: POTENTIAL BREAKOUT Alerts*

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

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

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

Cheers


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## Sean K (29 July 2007)

*Re: POTENTIAL BREAKOUT Alerts*



kevinecom said:


> Kennas,
> Just a quick question, what do you think of stock analysis? I'm thinking of subscribing



Kevin, I'm not signed up, I got this off FAR's web site I think. Maybe ARC. So, can't comment. 



Sweet Synergy said:


> Hi Kennas, Thanks for your info ... the fundamentals on this are interesting
> 
> .... but "seriously"! >  Amazing what some massive volume can do hey .... EGO did break 1c very nicely within 24hrs.  Looks like you will be selling my "husbands" kidneys lol
> 
> ...



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

(holding EGO and FAR)


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## Sean K (30 July 2007)

*Re: POTENTIAL BREAKOUT Alerts*



kennas said:


> If this breaks 9 then put your granny's house on it!!! When it break 1c sell both your wife's kidneys and put them on it. When it breaks 1.2 cents, you'll be really old....LOL
> 
> Seriously though, they are about to be involved in a significant drilling campaign, and if it comes off, could seriously re-rate the company. Check ARC thread for detail.
> 
> Here's an assessment of what it might be worth to them:



My wife's kidney's are gone.  

Probably a breakout now, trading at 1.2...

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

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


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## woksta (30 July 2007)

*Re: EGO - Empire Oil*

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


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## moneymajix (30 July 2007)

*Re: EGO - Empire Oil*

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

What do others think?

My $ is in EMR.

Congrats to EGO holders.
1.3c, up 30%


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## Jockstar73 (6 August 2007)

*Re: EGO - Empire Oil*

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

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

Any thoughts??


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## UPKA (6 August 2007)

*Re: EGO - Empire Oil*



Jockstar73 said:


> This stock is gaining momentum ATM, and on a down day, volume mounting and getting gobbled.
> 
> Drill results due out by the end of the month (canning basin) so maybe people getting in early. (IMO)
> 
> Any thoughts??




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


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## doctorj (6 August 2007)

*Re: EGO - Empire Oil*

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

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


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## UPKA (6 August 2007)

*Re: EGO - Empire Oil*



doctorj said:


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




its true that investors r taking on a lot risk, bt to my knowledge institutional buyers usually dont jump in with huge risk like this. they definately have a better knowledge than us that the value of the stock over weights the risk its taking.


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## doctorj (6 August 2007)

*Re: EGO - Empire Oil*

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


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## Sean K (6 August 2007)

*Re: EGO - Empire Oil*



UPKA said:


> its true that investors r taking on a lot risk, bt to my knowledge institutional buyers usually dont jump in with huge risk like this. they definately have a better knowledge than us that the value of the stock over weights the risk its taking.



I am looking forward to the time you abbreviate the indefinitive 'a', in some way. : 

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


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## zt3000 (6 August 2007)

*Re: EGO - Empire Oil*

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

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

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


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## moneymajix (6 August 2007)

*Re: EGO - Empire Oil*

Ann.

Placement at .08c

As someone said - ego deflating - 1.3c

Hmm.

So was that some kind of pump?


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## Sean K (6 August 2007)

*Re: EGO - Empire Oil*

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


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## Jockstar73 (6 August 2007)

*Re: EGO - Empire Oil*

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


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## doctorj (6 August 2007)

*Re: EGO - Empire Oil*

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


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## moneymajix (6 August 2007)

*Re: EGO - Empire Oil*

Doctorj

Thanks for your comments.

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



Cheers


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## doctorj (6 August 2007)

*Re: EGO - Empire Oil*

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


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## moneymajix (6 August 2007)

*Re: EGO - Empire Oil*

Doctorj

You are too good! Thanks for your information.

I am sure we will take on board.

Cheers


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## 123enen (6 August 2007)

*Re: EGO - Empire Oil*



doctorj said:


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




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


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## doctorj (6 August 2007)

*Re: EGO - Empire Oil*

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


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## moneymajix (6 August 2007)

*Re: EGO - Empire Oil*

Doctorj

A personal question.

Are you a real doctor?

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


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## doctorj (6 August 2007)

*Re: EGO - Empire Oil*

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


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## zt3000 (7 August 2007)

*Re: EGO - Empire Oil*

Speeding ticket 

It had to happen lol

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

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


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## zt3000 (7 August 2007)

*Re: EGO - Empire Oil*

Drilling Updates!

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

JV with ARC ...

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

EGO has 14.8% interest.

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

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

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

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

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


----------



## Jockstar73 (8 August 2007)

*Re: EGO - Empire Oil*

Clarification on recent ann..

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

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


----------



## surfingman (8 August 2007)

*Re: EGO - Empire Oil*



Jockstar73 said:


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




You may be misinterpreting this the price is .008 per share so its at a discount of around 50% to the current market price.....


----------



## Pommiegranite (8 August 2007)

*Re: EGO - Empire Oil*

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

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

Is this prelude to something?


----------



## UPKA (8 August 2007)

*Re: EGO - Empire Oil*



Pommiegranite said:


> Can any of you offer an explanation as to what's going on with this SP?
> 
> i.e  a lot of churning at 0.015 cents..and a lot of buy/sell orders either side.
> 
> Is this prelude to something?




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


----------



## UPKA (8 August 2007)

*Re: EGO - Empire Oil*

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

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

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


----------



## zt3000 (8 August 2007)

*Re: EGO - Empire Oil*

Wawawewah .. Close at 1.7c  Very nice

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

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


----------



## UPKA (8 August 2007)

*Re: EGO - Empire Oil*



zt3000 said:


> Wawawewah .. Close at 1.7c  Very nice
> 
> I cant figure this one out those ... for all we know tomorrow it will be back at 1.3c ...
> 
> Would like to see this one run past 2c ... will be interesting to watch non the less




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


----------



## bhutos (8 August 2007)

*Re: EGO - Empire Oil*



UPKA said:


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




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


----------



## black_bird2 (8 August 2007)

*Re: EGO - Empire Oil*

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


----------



## zt3000 (8 August 2007)

*Re: EGO - Empire Oil*



UPKA said:


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




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

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


----------



## UPKA (8 August 2007)

*Re: EGO - Empire Oil*



zt3000 said:


> Where did u find this 20c+ valuation? Can u point me in the right direction cheers
> 
> I dont like this min 100 character rule ... i have to elaborate with a waste of text just so i can post something ..




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

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

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


----------



## zt3000 (9 August 2007)

*Re: EGO - Empire Oil*

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


----------



## black_bird2 (9 August 2007)

*Re: EGO - Empire Oil*

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


----------



## UPKA (9 August 2007)

*Re: EGO - Empire Oil*



black_bird2 said:


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




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


----------



## jtb (9 August 2007)

*Re: EGO - Empire Oil*



zt3000 said:


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




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

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

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


----------



## doctorj (9 August 2007)

*Re: EGO - Empire Oil*

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


----------



## UPKA (9 August 2007)

*Re: EGO - Empire Oil*



jtb said:


> Not wanting to rain on anyones parade but if we remember that after the latest placement EGO will have about *2.3 BILLION* shares on issue!!!!!!!!!!!!!! - 2c puts their MC @ approx $50 million up from $15mil' only a couple of weeks ago.
> Considering rough range is just about knackered thats a fair premium simply on the upcoming Canning drill
> 
> Don't get me wrong I'm as big a canning bull as anyone but I can see a lot of newbies getting fried on this due to the low entry price.
> ...




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


----------



## zt3000 (9 August 2007)

*Re: EGO - Empire Oil*

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


----------



## zt3000 (9 August 2007)

*Re: EGO - Empire Oil*



UPKA said:


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




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


----------



## doctorj (9 August 2007)

*Re: EGO - Empire Oil*



zt3000 said:


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




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


----------



## jtb (9 August 2007)

*Re: EGO - Empire Oil*

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

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

Bailed out a little while ago myself.

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

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

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

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


----------



## bhutos (9 August 2007)

*Re: EGO - Empire Oil*



doctorj said:


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




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


----------



## jtb (9 August 2007)

*Re: EGO - Empire Oil*



doctorj said:


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




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


----------



## doctorj (9 August 2007)

*Re: EGO - Empire Oil*

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

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


----------



## jtb (9 August 2007)

*Re: EGO - Empire Oil*



doctorj said:


> Talking discovery value per share relative to their current share price, not just the equity they have in the drill.
> 
> Having another look at the numbers EMR may be the cheapest entry now, depending on how much they reduced their interest and how many new shares EGO have announced they'll issue.




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

Gotta go to bed.

Best of luck all


----------



## surfingman (9 August 2007)

*Re: EGO - Empire Oil*

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


----------



## UPKA (9 August 2007)

*Re: EGO - Empire Oil*



surfingman said:


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




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


----------



## zt3000 (9 August 2007)

*Re: EGO - Empire Oil*

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


----------



## UPKA (9 August 2007)

*Re: EGO - Empire Oil*



zt3000 said:


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




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


----------



## moneymajix (9 August 2007)

*Re: EGO - Empire Oil*

So EGO closes at 2.2c.

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

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

Any comments appreciated.

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


Thanks in advance.


----------



## rub92me (9 August 2007)

*Re: EGO - Empire Oil*

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


----------



## zt3000 (10 August 2007)

*Re: EGO - Empire Oil*



rub92me said:


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




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

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


----------



## Pommiegranite (10 August 2007)

*Re: EGO - Empire Oil*



zt3000 said:


> Well i think todays performance so far has blown your theory out the water .... on a shocker of a day for the markets EGO is up 10% ... currently 2.4 ... im stunned
> 
> oh well ... we can only imagine what it would have done on a positive day ... roll on monday




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

Is it 'mania'?


----------



## moneymajix (10 August 2007)

*Re: EGO - Empire Oil*

Absolutely fabulous effort by EGO.

2.7c.

Congrats to all holders. 



LOL.


----------



## zt3000 (10 August 2007)

*Re: EGO - Empire Oil*

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


----------



## black_bird2 (10 August 2007)

*Re: EGO - Empire Oil*

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


----------



## jtb (10 August 2007)

*Re: EGO - Empire Oil*



Pommiegranite said:


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




Mate I think its purely hotcopper penny stock of moment.

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

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

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

The herd is a wonderful thing

Take it anyway you can get it


----------



## UPKA (10 August 2007)

*Re: EGO - Empire Oil*



Pommiegranite said:


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




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


----------



## Pommiegranite (10 August 2007)

*Re: EGO - Empire Oil*

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

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

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

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


----------



## zt3000 (10 August 2007)

*Re: EGO - Empire Oil*



jtb said:


> Mate I think its purely hotcopper penny stock of moment.




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


----------



## bhutos (10 August 2007)

*Re: EGO - Empire Oil*



Pommiegranite said:


> I bought a juicy top us parcel this morning at 0.018/0.019 and just sold at 0.026. It means I am well and truly freecarrying EGO.
> 
> I moved my profits into EGO's JV partner EMR, after comparing Market Caps & Equity Stakes in the project.
> 
> ...





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


----------



## necrotic (10 August 2007)

*Re: EGO - Empire Oil*

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


----------



## Pommiegranite (12 August 2007)

*Re: EGO - Empire Oil*

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

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

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

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

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

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

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


Cheers


----------



## 123enen (12 August 2007)

*Re: EGO - Empire Oil*



Pommiegranite said:


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




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


----------



## Pommiegranite (12 August 2007)

*Re: EGO - Empire Oil*



123enen said:


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




Thanks 123enen. Twas a silly mistake.

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


----------



## zt3000 (13 August 2007)

*Re: EGO - Empire Oil*

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

Let the roller coaster begin!


----------



## zt3000 (13 August 2007)

*Re: EGO - Empire Oil*

Another Announcement!!!

ARC`s Canning Basin Exploration Program Commences!

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


----------



## LetsGetRich (13 August 2007)

*Re: EGO - Empire Oil*

What a day!!!

Closed @ 0.035

Approx 599 Million in Volume! 
40% Gain

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


----------



## zt3000 (13 August 2007)

*Re: EGO - Empire Oil*



LetsGetRich said:


> What a day!!!
> 
> Closed @ 0.035
> 
> ...




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


----------



## Go Nuke (13 August 2007)

*Re: EGO - Empire Oil*



LetsGetRich said:


> What a day!!!
> 
> Closed @ 0.035
> 
> ...




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


----------



## Joe Blow (13 August 2007)

*Re: EGO - Empire Oil*



LetsGetRich said:


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




LetsGetRich,

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

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

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


----------



## LetsGetRich (13 August 2007)

*Re: EGO - Empire Oil*

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


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


----------



## LetsGetRich (13 August 2007)

*Re: EGO - Empire Oil*



Go Nuke said:


> Will you try tomorrow??
> I am kicking myself for chasing EGO and trying to get it at .011 last week, but im WAY to scared to buy in now.EGO's share price has got to come back to earth soon!
> Knowing my luck if i bought tomorrow, the share price would about face on me
> I chose IMI instead because at least they have a product.
> ...




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

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

I don't think there is an IMI thread.


----------



## pennydreadful (14 August 2007)

*Re: EGO - Empire Oil*

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


----------



## doctorj (14 August 2007)

*Re: EGO - Empire Oil*



pennydreadful said:


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



Probably not a takeover target...  consolidation is due in the industry but given the % of their market cap that has turned over this month already (FAR in excess of the % that would trigger a significant holder notification), my money is it is likely due to a combination of momentum traders and people repricing their leverage to the Perth Basin.


----------



## Wysiwyg (14 August 2007)

*Re: EGO - Empire Oil*



pennydreadful said:


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




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


----------



## zt3000 (14 August 2007)

*Re: EGO - Empire Oil*

 Any of you witnessing this?

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


----------



## bhutos (14 August 2007)

*Re: EGO - Empire Oil*

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


----------



## Craze0123 (14 August 2007)

*Re: EGO - Empire Oil*

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


----------



## Yeti (14 August 2007)

*Re: EGO - Empire Oil*



zt3000 said:


> Any of you witnessing this?
> 
> 4.9 and still going ... some large orders too ... this is crazy




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


----------



## black_bird2 (14 August 2007)

*Re: EGO - Empire Oil*

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


----------



## vert (14 August 2007)

*Re: EGO - Empire Oil*

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


----------



## zt3000 (14 August 2007)

*Re: EGO - Empire Oil*

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


----------



## Yeti (14 August 2007)

*Re: EGO - Empire Oil*

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

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


----------



## macca (14 August 2007)

*Re: EGO - Empire Oil*

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

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

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

Unbelievable


----------



## chicken8 (15 August 2007)

*Re: EGO - Empire Oil*

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

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

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


----------



## UPKA (15 August 2007)

*Re: EGO - Empire Oil*



chicken8 said:


> 14/08/2007	6:01PM	Change of Director`s Interest Notice - Appendix 3Y
> 
> one of the directors sold all of his shares except for 19,000
> 
> do you think this means he thinks the stock is overvalued? does he not have faith in the project?




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


----------



## GOSAFAS (15 August 2007)

*Re: EGO - Empire Oil*

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


----------



## doctorj (15 August 2007)

*Re: EGO - Empire Oil*



GOSAFAS said:


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



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


----------



## GOSAFAS (15 August 2007)

*Re: EGO - Empire Oil*

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


----------



## UPKA (15 August 2007)

*Re: EGO - Empire Oil*



GOSAFAS said:


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




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


----------



## emily (15 August 2007)

*Re: EGO - Empire Oil*

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


----------



## UPKA (15 August 2007)

*Re: EGO - Empire Oil*



emily said:


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




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


----------



## Yeti (15 August 2007)

*Re: EGO - Empire Oil*



emily said:


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




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


----------



## jama_kj (15 August 2007)

*Re: EGO - Empire Oil*

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

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


----------



## doctorj (15 August 2007)

*Re: EGO - Empire Oil*

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


----------



## jama_kj (15 August 2007)

*Re: EGO - Empire Oil*

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

time will tell i guess


----------



## chicken8 (15 August 2007)

*Re: EGO - Empire Oil*

http://www.arcenergy.com.au/files/brokerreports/Hartleys 14 Aug 07.pdf

report out by hartley's on the canning basin project

best case scenario, EGO shares are worth 5.5c


----------



## Bluesky (20 August 2007)

*Re: EGO - Empire Oil*

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

Announcement out after market closed - 

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


----------



## morlock (20 August 2007)

*Re: EGO - Empire Oil*

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


----------



## Bluesky (20 August 2007)

*Re: EGO - Empire Oil*



morlock said:


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




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

So short term and long term looks good imo.

Goodluck


----------



## doctorj (20 August 2007)

*Re: EGO - Empire Oil*



Bluesky said:


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



Non sequitur.

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

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


----------



## doctorj (23 August 2007)

*Re: EGO - Empire Oil*

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


----------



## black_bird2 (23 August 2007)

*Re: EGO - Empire Oil*

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


----------



## binginbarrel (4 September 2007)

*Re: EGO - Empire Oil*

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


----------



## vert (6 September 2007)

*Re: EGO - Empire Oil*

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


----------



## 1234 (7 September 2007)

*Re: EGO - Empire Oil*

Agreed, tomorrow should be fairly healthy.

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

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


----------



## vert (7 September 2007)

*Re: EGO - Empire Oil*

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


----------



## tech/a (7 September 2007)

*Re: EGO - Empire Oil*

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

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


----------



## mickqld (7 September 2007)

*Re: EGO - Empire Oil*



tech/a said:


> Trading this short term (technically) myself using VSA software.
> 
> Happy to post some price action type charts if any interest.





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


----------



## vert (7 September 2007)

*Re: EGO - Empire Oil*



tech/a said:


> Trading this short term (technically) myself using VSA software.
> 
> Happy to post some price action type charts if any interest.




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


----------



## norip_zxy (7 September 2007)

*Re: EGO - Empire Oil*

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

any potential ann gonna out soon?


----------



## rub92me (7 September 2007)

*Re: EGO - Empire Oil*



norip_zxy said:


> is this one fit for trading short term or holding for a long time?
> 
> any potential ann gonna out soon?



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


----------



## norip_zxy (7 September 2007)

*Re: EGO - Empire Oil*

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


----------



## tech/a (7 September 2007)

*Re: EGO - Empire Oil*

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

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

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

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






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






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


----------



## 1234 (7 September 2007)

*Re: EGO - Empire Oil*



norip_zxy said:


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




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

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


----------



## black_bird2 (8 September 2007)

*Re: EGO - Empire Oil*

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


----------



## 1234 (10 September 2007)

*Re: EGO - Empire Oil*

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

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


----------



## juw177 (10 September 2007)

*Re: EGO - Empire Oil*



1234 said:


> late ann today, now there's large volumes placed - Buy side heavy for a change..
> 
> The EGO roller coaster looks set for a loop-da-loop tomorrow..




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

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


----------



## 1234 (11 September 2007)

*Re: EGO - Empire Oil*



juw177 said:


> Why do you say that? To me the weak close is showing the opposite. I too was wanting the ann will give it a kick but there was a lack of demand so sellers drove the price down. The momentum the day before may be due to insiders expecting an ann. We will see tomorrow.
> 
> edit: oh, there is one more ann out. oops, please disregard my comment. Thoughts on the ann?




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



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

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


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


----------



## doctorj (14 September 2007)

*Re: EGO - Empire Oil*

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

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


----------



## Trader Paul (16 September 2007)

*Re: EGO - Empire Oil*



Hi folks,

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

    05102007 ... positive news expected here

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

    18102007 ... more news expected here  

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

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

    29112007 ... minor and positive cycle here

happy days

 paul



=====


----------



## greenfs (16 September 2007)

*Re: EGO - Empire Oil*



Trader Paul said:


> Hi folks,
> 
> EGO ... astrocycles looking good for October/November 2007:
> 
> ...




This is really weird stuff. Can anyone explain what is intend within this post apart from what appears to be crystal ball or star gazing stuff with no absolutelty no substance?


----------



## SevenFX (24 September 2007)

*Re: EGO - Empire Oil*

News Galore.>>>

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

http://www.asx.com.au/asx/statistic...rchByCode&releasedDuringCode=W&issuerCode=EGO

SevenFX


----------



## Mikii (25 September 2007)

*Re: EGO - Empire Oil*

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


----------



## doctorj (25 September 2007)

*Re: EGO - Empire Oil*



> The clastic sediments of the target Virgin Hills Formation are
> interpreted to have been intersected with lithologies being
> predominantly tight sandstones and calcareous claystones.
> No significant indications of hydrocarbons or porosity were
> ...




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


----------



## Mikii (25 September 2007)

*Re: EGO - Empire Oil*

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


----------



## Go Nuke (25 September 2007)

*Re: EGO - Empire Oil*

Yep looks like Valintine turned up nothing!:bad:

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

(I dont hold btw)


----------



## 1234 (25 September 2007)

*Re: EGO - Empire Oil*

Ahoy mateys.

Arr be going down with the ship....

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

lol..

Only a small portion, so no real concerns..


----------



## stampa2911 (27 September 2007)

*Re: EGO - Empire Oil*

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


----------



## Mikii (4 October 2007)

*Re: EGO - Empire Oil*

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


----------



## vert (4 October 2007)

*Re: EGO - Empire Oil*



Mikii said:


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




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


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


----------



## SevenFX (4 October 2007)

*Re: EGO - Empire Oil*

Vert.

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

Thanks
SevenFX


----------



## vert (4 October 2007)

*Re: EGO - Empire Oil*

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


----------



## SevenFX (4 October 2007)

*Re: EGO - Empire Oil*



vert said:


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




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

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

It's the slight enlarging that blurred it.

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

Thanks for your snippit
Cheers
SevenFX


----------



## SevenFX (4 October 2007)

*Re: EGO - Empire Oil*

NEWS. 

As confirmed by Vert in previous post.

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

SevenFX


----------



## Fiji (11 October 2007)

*Re: EGO - Empire Oil*

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

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


Thanks in advance


----------



## camaybay (11 October 2007)

*Re: EGO - Empire Oil*

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

I like you front porch avantar


----------



## zander (25 October 2007)

*Re: EGO - Empire Oil*

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

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

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


----------



## craftyluke (25 October 2007)

*Re: EGO - Empire Oil*



zander said:


> I am holding, and I am cheesed off that EGO opted out of the last 200 meters of drilling at stokes bay.
> 
> 
> opting out of the last 200m is not such a bad thing, playing it safe. They still have the right to get back in if the bottom zone is found to be productive. this will incurr some penelties but better to be safe then sorry.


----------



## phcuk (25 October 2007)

*Re: EGO - Empire Oil*

Hi All,

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


----------



## zander (25 October 2007)

*Re: EGO - Empire Oil*



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




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


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


----------



## craftyluke (26 October 2007)

*Re: EGO - Empire Oil*



phcuk said:


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




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


----------



## SevenFX (5 November 2007)

*Re: EGO - Empire Oil*

EGO News.

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

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

SevenFX


----------



## yangxh (5 November 2007)

*Re: EGO - Empire Oil*



SevenFX said:


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




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


----------



## rub92me (5 November 2007)

*Re: EGO - Empire Oil*

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


----------



## Scuba (5 November 2007)

*Re: EGO - Empire Oil*



rub92me said:


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




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


----------



## Go Nuke (5 November 2007)

*Re: EGO - Empire Oil*

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

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

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

DYOR


----------



## doctorj (6 November 2007)

*Re: EGO - Empire Oil*

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

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

Disc: I don't hold EGO.


----------



## Dollarmite (9 November 2007)

*Re: EGO - Empire Oil*

Hi guys

I just wanted to ask some questions about this stock.

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

Thanks for any help.


----------



## SevenFX (9 November 2007)

*Re: EGO - Empire Oil*



Dollarmite said:


> Hi guys
> 
> I just wanted to ask some questions about this stock.
> 
> ...




Hi Dollarmite. Welcome.

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

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

SevenFX


----------



## SevenFX (21 November 2007)

*Re: EGO - Empire Oil*

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

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


----------



## daaussie (21 November 2007)

*Re: EGO - Empire Oil*

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

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

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

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

The next question is why?

Do they know something?

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

So yes, Im in!!!


----------



## hardcoremike (21 November 2007)

*Re: EGO - Empire Oil*

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

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


----------



## SevenFX (22 November 2007)

*Re: EGO - Empire Oil*

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

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

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


----------



## Jockstar73 (22 November 2007)

*Re: EGO - Empire Oil*

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

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


----------



## SevenFX (22 November 2007)

*Re: EGO - Empire Oil*



Jockstar73 said:


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




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

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

cant see it getting filled IMO

SevenFX


----------



## Go Nuke (26 November 2007)

*Re: EGO - Empire Oil*

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

Wow It was a pretty big drop for EGO today.

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


----------



## Go Nuke (4 December 2007)

*Re: EGO - Empire Oil*

Looks like its game over for EGO till next year.

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

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

Looks like the buyers are drying up and sellers queuing up


----------



## tugga (4 December 2007)

*Re: EGO - Empire Oil*



Go Nuke said:


> Looks like its game over for EGO till next year.
> 
> Stokes Bay is on hold till the wet season is over.
> 
> ...




Not all bad news....

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


----------



## Rocket man (4 January 2008)

*Re: EGO - Empire Oil*

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

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


----------



## Go Nuke (6 January 2008)

*Re: EGO - Empire Oil*

I just noticed that too.

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

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


----------



## moneymajix (4 February 2008)

*Re: EGO - Empire Oil*

04 Feb 2008 14:20 !  

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

2.2c, up 83%


----------



## LRG (4 February 2008)

*EGO - Empire Oil*

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

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

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


----------



## Wysiwyg (4 February 2008)

*Re: EGO - Empire Oil*



LRG said:


> I note today in the ASX top 20 most traded this coy traded 376.6 Million shares today up 92% to 2.3 cents.
> 
> Has anyone got anydata on this and why the huge volume and increase?
> 
> I am going to read up on this, but thought someone may have a heads up




Ol` Chief say ... happy punting ground.

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


----------



## Go Nuke (4 February 2008)

*Re: EGO - Empire Oil*

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


----------



## MangaNOID (15 February 2008)

*Re: EGO - Empire Oil*

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


----------



## bulldog07 (19 February 2008)

*Re: EGO - Empire Oil*

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

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


----------



## MangaNOID (23 February 2008)

*Re: EGO - Empire Oil*

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


----------



## Go Nuke (4 March 2008)

*Re: EGO - Empire Oil*

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

There are HEAPS more sellers than buyers at the moment.

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

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


----------



## camaybay (4 March 2008)

*Re: EGO - Empire Oil*



Go Nuke said:


> I dont see a whole lot of buyers rushing in with the target depth getting closer and closer.....which suprises me.
> 
> There are HEAPS more sellers than buyers at the moment.
> 
> ...




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

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

cheers

DYOR


----------



## Justthinkin (7 March 2008)

*Re: EGO - Empire Oil*

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

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


----------



## nicecar (7 March 2008)

*Re: EGO - Empire Oil*

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


----------



## camaybay (7 March 2008)

*Re: EGO - Empire Oil*

Drilling Log

6.00 am at 2406m 

progress for 24 hrs= 46 m

prediction for top of F sands 2446 m

6.00 am from 7 to 8th 

2406+46=2452

6 metres penetration

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


----------



## Go Nuke (10 March 2008)

*Re: EGO - Empire Oil*



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




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

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

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

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


----------



## MangaNOID (10 March 2008)

*Re: EGO - Empire Oil*

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

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

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


----------



## MangaNOID (10 March 2008)

*Re: EGO - Empire Oil*

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

http://books.google.com.au/books?id...g=bkpUVShInaaL3E50HtpOHZ5YkFU&hl=en#PPA196,M1 

http://books.google.com.au/books?id...I28EuiG&sig=VPDGDLpngfgH1-f6eKhfvpul2kA&hl=en
page 165 of second link quote " ii) lack of fluorescence is not conclusive proof of the absence of hydrocarbons. "


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


----------



## onebytwo (2 April 2008)

*Re: EGO - Empire Oil*

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

IMO


----------



## Datsun Disguise (11 April 2008)

*Re: EGO - Empire Oil*

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

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

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

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


----------



## Datsun Disguise (15 April 2008)

*Re: EGO - Empire Oil*

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


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

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

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


----------



## Datsun Disguise (21 May 2008)

*Re: EGO - Empire Oil*

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

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


----------



## Go Nuke (30 May 2008)

*Re: EGO - Empire Oil*

EGO is one that i watch from time to time.

Possible symmetrical triangle?

Watch for a breakout IMO.

oooh writing is a bit small. Sorry.

Just says RSI rising and  symmetrical triangle formation maybe


----------



## Datsun Disguise (2 June 2008)

*Re: EGO - Empire Oil*

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

Any theories in the absence of an announcement?


----------



## tinkus (2 June 2008)

*Re: EGO - Empire Oil*

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

re:  Announcement its due very soon if not today.

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

cheers

tinkus


----------



## Datsun Disguise (2 June 2008)

*Re: EGO - Empire Oil*



tinkus said:


> easy its just the start of the roller coaster ride, fast start up we go....
> 
> re:  Announcement its due very soon if not today.
> 
> ...




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


----------



## Datsun Disguise (4 June 2008)

*Re: EGO - Empire Oil*

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

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

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


----------



## Datsun Disguise (4 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


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




Sorry All, my bad.

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

above $20k  >> 36

above $50k  >> 17

above $100k  >> 6

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

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


----------



## Go Nuke (4 June 2008)

*Re: EGO - Empire Oil*

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

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

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

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


----------



## lioness (7 June 2008)

*Re: EGO - Empire Oil*

Hi Go Nuke and Datsun,

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

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

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

Finch about to spud any week now should underpin it.


----------



## DavidB1 (7 June 2008)

*Re: EGO - Empire Oil*

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


going to get in when the market opens 

the stock was as high as 33c in 1999


----------



## lioness (8 June 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> it needs to close above February highs of 2.8c the next point be 0.365
> 
> 
> going to get in when the market opens
> ...




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

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

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

Looks to be a good show of moving higher.


----------



## DavidB1 (8 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> David, I think you mean the next point is 0.0365 not 0.365. I wish.
> 
> As soon as the spud date is announced or spud begins, this will take off big time. They have back to back drilling of 2 big wells in the next 2 months so should be good momentum coming. My research shows there is a good chance of success here also.
> 
> ...




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

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

looking like the by of the year i hope


----------



## lioness (8 June 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> yes i do wish lol sorry i was posting as i was walking out the door
> 
> i was reading yestoday that there is a Potential 150 million barrels recoverable oil reserves within the Lake MacLeod
> 
> looking like the by of the year i hope




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

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


----------



## lioness (8 June 2008)

*Re: EGO - Empire Oil*

Trader Paul, 

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

Thanks.


----------



## Datsun Disguise (8 June 2008)

*Re: EGO - Empire Oil*

Hi Lioness, David,

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

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

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


----------



## lioness (9 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


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




Datsun,

You make very goodpoints, but just to add another point.

Think about the closing dates for the SPP and why they would raise cash now just before drilling.

This makes your statement that they have high hopes of success in finch and macleod even more true.

Cheers, we may another chart from Go Nuke as an update please.


----------



## NickVC (10 June 2008)

*Re: EGO - Empire Oil*

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


----------



## mike85 (10 June 2008)

*Re: EGO - Empire Oil*

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


----------



## webclever (10 June 2008)

*Re: EGO - Empire Oil*

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


----------



## DavidB1 (10 June 2008)

*Re: EGO - Empire Oil*

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

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

I bought in today 900,000@ .029

I should have bought in the morning lol


----------



## tthurlow2287 (10 June 2008)

*Re: EGO - Empire Oil*

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


----------



## Go Nuke (10 June 2008)

*Re: EGO - Empire Oil*

Sorry to those wanting another chart.

Been on holidays
EGO looks the goods at the moment hey

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

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

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

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


----------



## DavidB1 (10 June 2008)

*Re: EGO - Empire Oil*

Support:- 0.01; 0.006; 0.003

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


----------



## lioness (10 June 2008)

*Re: EGO - Empire Oil*



Go Nuke said:


> Sorry to those wanting another chart.
> 
> Been on holidays
> EGO looks the goods at the moment hey
> ...




Cheers Nuke, nice chart. You are right about drilling success but with today' announcement, the odds are now in their favour.

Expect more good news before the closing date of the SPP


----------



## nomore4s (10 June 2008)

*Re: EGO - Empire Oil*

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

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

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

I hold.


----------



## bowseruni (11 June 2008)

*Re: EGO - Empire Oil*

bought some today, comsec shows some big buys today

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


----------



## Datsun Disguise (11 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> bought some today, comsec shows some big buys today
> 
> what are peoples thought on how high they will go IF they succeed in drilling?




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

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

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

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


----------



## bowseruni (11 June 2008)

*Re: EGO - Empire Oil*

so at 0.029 i got a decent buy? 

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


----------



## NickVC (11 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> so at 0.029 i got a decent buy?
> 
> (still pretty green at all this, have no idea about the graphs you guys are posting and how to read them properly)




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

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


----------



## Datsun Disguise (11 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> But if results are really good, then based upon the assessment of sp of around $1.50 (just for a great oil result, leaving aside what might also happen with the gas) then I'll make something like a 5000% profit.  Its certainly a risk i'm willing to take




One thing about share price vs asset value - they don't always correlate. For example AIM resources is now developing the descent into a a pretty big zinc deposit - not so long agao they had cash backing of about 8c a share (not sure what cash position is now, but wouldn't have decreased much). the current share price is arounf 8 - 9c. So the market is giving a zero value to the zinc deposit.....

Oil & gas are a bit more exciting than zinc at the moment though. If they hit oil in LM while the asset value might be $1.50 per share that doesn't mean the share price will reflect that. But hey, if it was 1/3 of that I'd still be an exceptionally happy camper.

Heed the advice about short stops as they approach target depths though - ego gets dumped hard when they fail and there's been a lot of volume over the last week...

Good luck to the holders (& newbies)- I'm optimistic.


----------



## NickVC (11 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Heed the advice about short stops as they approach target depths though - ego gets dumped hard when they fail and there's been a lot of volume over the last week...




Thanks Datsun, it great to have people in the know to assist...and hopefully I'll get to a point where I'm assisting rather than asking qns.  One further qn I do have though is whether you have a ballpark idea of when results are likely to be announced, on the presumption that the Star Finch-1 well is drilled in June as scheduled and the Lake MacLeod-1 well the July as scheduled.


----------



## Datsun Disguise (11 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> Thanks Datsun, it great to have people in the know to assist...and hopefully I'll get to a point where I'm assisting rather than asking qns.  One further qn I do have though is whether you have a ballpark idea of when results are likely to be announced, on the presumption that the Star Finch-1 well is drilled in June as scheduled and the Lake MacLeod-1 well the July as scheduled.




The continuous disclosure rules of the market mean that companies are required to announce market sensitive news as it comes to hand. This means that the results of the drilling will be reported as the drilling occurs. Ego provide daily drilling reports with a good amount of detail that make it easy to follow. (have a look at the previous drill reports from february for an indication) There's 2 events that we will want to see. First is encountering gas in the target areas - usually sands, once gas has been encountered they need to test the reservoir for commercial flow rates. This is the follow up and is usually a confirmation of what was encountered during drilling. testing is usually done fairly soon after reaching the target depth, maybe a fortnight if they don't have any major issues (like the rain that postponed the testing of stokes bay). So with positive drilling results we will see a good price movement within the next 2-3 months. A good strategy can be simply riding the share price increase as we head towards the target depth - lower risk, and lower returns if they hit something - if they don't then you make some money and feel smarter than the average bear....


----------



## lioness (11 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> The continuous disclosure rules of the market mean that companies are required to announce market sensitive news as it comes to hand. This means that the results of the drilling will be reported as the drilling occurs. Ego provide daily drilling reports with a good amount of detail that make it easy to follow. (have a look at the previous drill reports from february for an indication) There's 2 events that we will want to see. First is encountering gas in the target areas - usually sands, once gas has been encountered they need to test the reservoir for commercial flow rates. This is the follow up and is usually a confirmation of what was encountered during drilling. testing is usually done fairly soon after reaching the target depth, maybe a fortnight if they don't have any major issues (like the rain that postponed the testing of stokes bay). So with positive drilling results we will see a good price movement within the next 2-3 months. A good strategy can be simply riding the share price increase as we head towards the target depth - lower risk, and lower returns if they hit something - if they don't then you make some money and feel smarter than the average bear....




Datsun, hope you are looking to upgrade from that 120Y. 

What in your honest opinion is the chances of finding gas at star Finch???

Do you have any knowledge of the surrounding areas success?

Do they have a good location here or is it just a stab in the dark??

Cheers.


----------



## bowseruni (12 June 2008)

*Re: EGO - Empire Oil*

reading between the line i think chances of success are high, see yesterdays repprt where the director's other company bought 6.5 mill shares. doubt this would happen if they thought nothing would happen.


so tempted to sell up some bhp and get some more of these guys.
up 7.4% so far today


----------



## prawn_86 (12 June 2008)

*Re: EGO - Empire Oil*

I dont know anything about the fundamanetals of this stock, but it has a history of pump and dump.

Look what happen last time they ran up quickly. I know it gets a lot of attention from other forums so be very careful.

It can drop faster than it rises....


----------



## Datsun Disguise (12 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> Datsun, hope you are looking to upgrade from that 120Y.
> 
> What in your honest opinion is the chances of finding gas at star Finch???
> 
> ...




Lioness! You upgrade *to* a 120Y not _from_ it!!!! Cheeky.

For star finch it sounds like more than a shot in the dark. The drilling announcement described the following - 


> As mapped from the 2D seismic data the crestal position, the crestal high
> is also encouragingly coincident to a topographic high. The Star Finch-1 Prospect
> demonstrates bright seismic anomalies over the mapped closure. These amplitudes
> die out at the mapped spill point of the structure which are encouraging for the trap
> ...



 I don't have any other knowledge about this area, I get most of my stuff from the announcements. 

But for the Gingin I think the odds are pretty good - the 10 june announcement points out that -


> The Gingin West No. 1 well is to test an updip well location from the 1981 gas discovery Bootine-
> 1 well that flowed gas naturally at a rate of 2.5 million cubic feet of gas per day from one of the
> 5 prospective sands. The interpretation of the 3D seismic is to define the crestal position of the
> Gingin West Structure to intersect all 5 gas prospective sands within closure. The estimated
> ...




So two good points here. Up dip from a previous discovery at the crestal position. Gas (& oil) rises underground. It is the seals that are important to capture the gas / oil. Bit like an upturned bowl. If a previous well has intersected the structure and found gas and the seismic data shows that the structure rises further then unless some event has cracked the seal between the last flow of gas and now then I would say chances are pretty good that they will find something. BUT sesimic data can't tell the whole story, we are still carrying risk (which is why it's not sitting at a higher sp right now) The second good point is it's close to an existing pipeline so operating costs will be low should it turn out to be a commercial discovery.

Now time for me to fess up. I quoted an in ground asset price for Lake Mcleod of $1.50 per share - forgot the whole pie doesn't belong to ego... The have 30% so it is actually 45c per share asset value in the ground. In barrels at the market the value is (@$130/b) $2.92..... Was a dreamer as a kid and haven't gotten any better.



> dont know anything about the fundamanetals of this stock, but it has a history of pump and dump.
> 
> Look what happen last time they ran up quickly. I know it gets a lot of attention from other forums so be very careful.
> 
> It can drop faster than it rises....




Prawn you raise a good point and I am all for caution (been done too many times - what's that saying - 300 times bitten, twice shy..) but I think that this run (I'm not calling it a re-rating yet) is based on some pretty good prospects. The Gingin group sounds like good quality. If star finch is a barren then I'll be looking for a lower entry opportunity to take advantage of the LM spud and then the Gingin prospects (no news on a drill schedule there yet) Anyway better get off before you guys figure out that I have no life...


----------



## lioness (12 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Lioness! You upgrade *to* a 120Y not _from_ it!!!! Cheeky.
> 
> For star finch it sounds like more than a shot in the dark. The drilling announcement described the following -
> I don't have any other knowledge about this area, I get most of my stuff from the announcements.
> ...




Excellent research from you Datsun, we all appreciate it too!

You may get to upgrade that 120Y to a Datsun 200B!!


----------



## NickVC (13 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Now time for me to fess up. I quoted an in ground asset price for Lake Mcleod of $1.50 per share - forgot the whole pie doesn't belong to ego... The have 30% so it is actually 45c per share asset value in the ground. In barrels at the market the value is (@$130/b) $2.92..... Was a dreamer as a kid and haven't gotten any better.




Good point.  Still, if drilling results are good and if share price reflected, say, a third of the asset value, then its still 15c per share.  Ego has approx 30% interest in Lake Mcleod (as you said), 23% in Star Finch and 62.5% in Gingin West.

On a separate matter, thanks lioness for your reply in the outstanding breakouts thread last night.  I saw it before you took it down again (or perhaps it was removed because of your projection regarding the sp).  Anyway, it was helpful to know that you think that I was reading the chart properly


----------



## bowseruni (13 June 2008)

*Re: EGO - Empire Oil*

done a stupid thing today, because it kept fluctuating between .029 - 0.03 i thought i would be smart and sell all at .03 and rebuy at .029. Didn't work that way, ended up selling at 0.029 and rebuying at 0.03

oh well, serves me right for trying to make a quick buck


----------



## DavidB1 (13 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> Good point.  Still, if drilling results are good and if share price reflected, say, a third of the asset value, then its still 15c per share.  Ego has approx 30% interest in Lake Mcleod (as you said), 23% in Star Finch and 62.5% in Gingin West.
> 
> On a separate matter, thanks lioness for your reply in the outstanding breakouts thread last night.  I saw it before you took it down again (or perhaps it was removed because of your projection regarding the sp).  Anyway, it was helpful to know that you think that I was reading the chart properly




it would be good if it gets to 15c i would have made 100k lol  
It has all-time highs at around 10-times current levels so it may make it one day


----------



## Shadex (13 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> done a stupid thing today, because it kept fluctuating between .029 - 0.03 i thought i would be smart and sell all at .03 and rebuy at .029. Didn't work that way, ended up selling at 0.029 and rebuying at 0.03
> 
> oh well, serves me right for trying to make a quick buck




Thats ok mate you done better then this guy.

Check this out, These are the buys/sells that have gone through, throughout the day.


----------



## bowseruni (13 June 2008)

*Re: EGO - Empire Oil*

gee wizz, i don't feel quiet so bad, considering that trade although i can see my trades on that list...if only i waited a couple of minutes each way it would of worked


----------



## lioness (14 June 2008)

*Re: EGO - Empire Oil*



Shadex said:


> Thats ok mate you done better then this guy.
> 
> Check this out, These are the buys/sells that have gone through, throughout the day.




Shadex,

I am not getting this. How is this price possible??? Please explain.

There are piles of shares in the next queue so why would the price escalate to this??


----------



## Shadex (14 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> Shadex,
> 
> I am not getting this. How is this price possible??? Please explain.
> 
> There are piles of shares in the next queue so why would the price escalate to this??




Lol im not sure either, He just may of missed typed? Went to type 0.015? Not 0.15 lol. But other then that i have no idea.


----------



## Datsun Disguise (14 June 2008)

*Re: EGO - Empire Oil*

That 15.5c trade doesn't appear on my trade list for Friday, must be a glitch with your system Shadex. Even if he/she did miss type and put in 15c instead of 1.5c all that would happen is that he/she'd buy the shares on offer at the ask price until the order was filled.

It would be nice to see some real 15c trades going through, with some successful drilling results over the nest few months perhaps not so unrealistic....?


----------



## lioness (15 June 2008)

*Re: EGO - Empire Oil*

Nick,

Do you mind giving an update on EGO for potential breakout alerts?? It seems to have had a small retrace from breakout point at 2.4 cents. Is it still a potential runner? It looks to me like it is ready for the another leg up. Please post a chart as this would help all of us.

Thanks in advance.


----------



## NickVC (15 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> Nick,
> 
> Do you mind giving an update on EGO for potential breakout alerts?? It seems to have had a small retrace from breakout point at 2.4 cents. Is it still a potential runner? It looks to me like it is ready for the another leg up. Please post a chart as this would help all of us.
> 
> Thanks in advance.




No problems, a daily chart and an intraday chart are below.  I'll have a go at interpreting the chart, but it would be great to get other peoples views on what it may mean too and as to whether my interpretation is sound or whether it is just jumble .

Ok, here goes....strangley, in the intraday chart the sp looks to be dropping to just below the bottom bollinger band, but in the daily chart the sp is hovering around and looking to break through the upper band.  So, looking at the daily would look like a break out potential, but looking at the intraday would look like break down potentially (don't know which one is the correct one to rely upon )

Regarding the Bollinger bands, I should mention that I have no idea what specifications to enter in for those bands (I have just used the default ones on the program where the "Average type" is "simple", "period" is "21" and "deviations" is "2").  Please, someone, let me know if there is anything fundamentally wrong about these specifications.

I think, however, the important issue is probably that on the intra day chart there appears to be consolidation around the 28c mark.  Also it is probably important that the volumes have been large since it got to around that mark, so people as a whole will be reluctant to sell without some increase or profit.  EGO had the largest trades by volume on the asx one day last week.

So, I think it is probably due for a breakout.  However, any massive breakout may well be more to do with company announcements when they are made re drilling than to do with the correctness of my not so exceptional chart analysis skills.  The fact is, having read Datsuns posts I'm going to hold until these announcements start coming through.

Hope this helps, and any other peoples analysis of these charts would also certainly be helpful


----------



## lioness (15 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> No problems, a daily chart and an intraday chart are below.  I'll have a go at interpreting the chart, but it would be great to get other peoples views on what it may mean too and as to whether my interpretation is sound or whether it is just jumble .
> 
> Ok, here goes....strangley, in the intraday chart the sp looks to be dropping to just below the bottom bollinger band, but in the daily chart the sp is hovering around and looking to break through the upper band.  So, looking at the daily would look like a break out potential, but looking at the intraday would look like break down potentially (don't know which one is the correct one to rely upon )
> 
> ...




Wow! How's that for service, fantasticly quick.

Many thanks Nick, you are right announcement driven but the good thing is we are overdue for updates and spud dates. A strong hold.


----------



## NickVC (15 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> Wow! How's that for service, fantasticly quick.
> 
> Many thanks Nick, you are right announcement driven but the good thing is we are overdue for updates and spud dates. A strong hold.




I think that anyone buying these before announcements at any price would be in a fairly good position.  As the announcements start, the sp surely has to start increasing markedly (even though the first few announcements won't really tell us a great deal).  I would have thought that the only announcement that could drop the share price would be if rain prevents drilling, or if there is some other disaster.

The real test will be what happens to the sp as we get close to the target depth and the meaningful announcements; that is, will people take the profits in fear of a adverse announcements or will they hold on for the "rainmaker"....only time will tell.


----------



## lioness (15 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> I think that anyone buying these before announcements at any price would be in a fairly good position.  As the announcements start, the sp surely has to start increasing markedly (even though the first few announcements won't really tell us a great deal).  I would have thought that the only announcement that could drop the share price would be if rain prevents drilling, or if there is some other disaster.
> 
> The real test will be what happens to the sp as we get close to the target depth and the meaningful announcements; that is, will people take the profits in fear of a adverse announcements or will they hold on for the "rainmaker"....only time will tell.




Nick,

There is no delay. I have called the company and spoken to Craig and he stated there is no delay. Spudding will occur within the next 2-3 weeks max.


----------



## bowseruni (15 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> Nick,
> 
> There is no delay. I have called the company and spoken to Craig and he stated there is no delay. Spudding will occur within the next 2-3 weeks max.




what is spudding?
still a bit green on some of the terms used on this site.


man i hate this minimum post length


----------



## tnargak (15 June 2008)

*Re: EGO - Empire Oil*

SPUDDING:

The process of starting to drill a well by making a hole in the seabed using a large diameter bit.


Hope that helps you out mate.


----------



## lioness (16 June 2008)

*Re: EGO - Empire Oil*

62 million traded already in the first hour, looks like we may get a little run on this today. I suspect it will be announcement driven, but that 3 cent resistance level sure did disappear wuickly this morning.

Thanks again Nick for the charts.


----------



## NickVC (16 June 2008)

*Re: EGO - Empire Oil*

After an announcement that a director sold 6.5million shares today, price has dropped slightly.  He exercised options to purchase those shares at 0.015c last week, and from the list of trades it looks like he probably sold them for 0.029c.  A nice little profit of $91K...but leaving aside his profit, what do people speculate as to the reasons for the exercise of options and then sale of shares...


----------



## cordelia (16 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> After an announcement that a director sold 6.5million shares today, price has dropped slightly.  He exercised options to purchase those shares at 0.015c last week, and from the list of trades it looks like he probably sold them for 0.029c.  A nice little profit of $91K...but leaving aside his profit, what do people speculate as to the reasons for the exercise of options and then sale of shares...




could be any reason maybe he had to cover a margin call.....who knows he might have got caught in the bnb mess


----------



## Go Nuke (16 June 2008)

*Re: EGO - Empire Oil*

Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence

But yes, maybe a margin call...who knows

Its probably a good time to buy up for those that wanted to get into EGO before announcements are made.

DYOR and I don't hold EGO


----------



## NickVC (16 June 2008)

*Re: EGO - Empire Oil*



Go Nuke said:


> Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence
> 
> But yes, maybe a margin call...who knows
> 
> ...




there's been some big purchases going through with the market dropping, it may be possible that he's just played the market - sold out at 0.029 guessing that this will drop the value and perhaps bought back in at the current price. I might grab a few more shares at the low prices - does anyone know when using Comsec whether if I sold other shares today I could also place a purchase order today (i.e. is the capital going to be available in time to meet the purchase order...I think I probably need to wait until tomorrow to place the purchase order and use that capital, but just wanted to check)


----------



## bowseruni (16 June 2008)

*Re: EGO - Empire Oil*

could it be possible that his sale could reflect the coming announcement? or is that not allowed? does seem suss to me...and I just bought more


----------



## cordelia (16 June 2008)

*Re: EGO - Empire Oil*



Go Nuke said:


> Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence
> 
> But yes, maybe a margin call...who knows
> 
> ...




I was a holder for about 10 mins until I read that announcement...didn't exactly make me feel confident..I'll wait to see what happens


----------



## Datsun Disguise (16 June 2008)

*Re: EGO - Empire Oil*

It would be very bad form if he had inside knowledge and did sell. In fact it would be illegal - something called 'insider trading'. I see it from this angle, if there is bad news coming and he has sold out he is on record as having done so. Therefore would be investigated and charged if a case was found to exist for insider trading. So the more likely scenario is that the market is fully informed, (or good news is coming) and he simply needed the cash. I recall another stock where a director sold out a substantial portion of his holding, the market had a panic attack and the price dipped. Turns out the guy had just bought a multi million dollar house and needed the cash for the deposit....

We all have cash flow requirements at different points for different reasons (yes, maybe even BNB).

If he has bought in again after dumping his parcel then he'd be manipulating the market - again, naughty and he'd most likely be investigated.

Still holding and waiting for the real news.


----------



## Go Nuke (16 June 2008)

*Re: EGO - Empire Oil*



> does anyone know when using Comsec whether if I sold other shares today I could also place a purchase order today (i.e. is the capital going to be available in time to meet the purchase order...




With Commsec if you sell one lot of shares today and buy another lot, they just deduct the difference. (Or put money into your account in 3 days time if you bought less than what you sold)

Does that make sence?

ie If I sell $1000 of shares today and buy $1200 today, in 3 days time they will take another $200 (+ brokerage $29.95 etc) out of my account 3 days later.


----------



## Go Nuke (16 June 2008)

*Re: EGO - Empire Oil*

I don't think it would be bad news. They haven't even started anything really!lol.
Unless its a delay of some kind...then the sp would get smashed.

Bit of panic selling is good for those who wish to enter


----------



## NickVC (16 June 2008)

*Re: EGO - Empire Oil*



Go Nuke said:


> With Commsec if you sell one lot of shares today and buy another lot, they just deduct the difference. (Or put money into your account in 3 days time if you bought less than what you sold)
> 
> Does that make sence?
> 
> ie If I sell $1000 of shares today and buy $1200 today, in 3 days time they will take another $200 (+ brokerage $29.95 etc) out of my account 3 days later.




Makes sense, thanks.  I just wasn't sure because on the contract notes it says that for a purchase funds will be debited on T+3, and for a sale although it says settlement is T+3 it also says "funds available the following day".


----------



## serg2100 (16 June 2008)

*Re: EGO - Empire Oil*

All my energy stocks went down today. So I decided to get more of EGO at 0.026


----------



## MattB (16 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> does anyone know when using Comsec whether if I sold other shares today I could also place a purchase order today (i.e. is the capital going to be available in time to meet the purchase order...I think I probably need to wait until tomorrow to place the purchase order and use that capital, but just wanted to check)



Yes - if i understand what you're asking?
Basically, you will get billed the difference...  ie) sell shares for $7k, comsec finalise the contract and owe you $7k,  but if you buy $10k worth of shares before that, they will debit the $3k difference...

got Order Status, and click anything to get to the next page,  then goto Financials menu -> Most Recent,  this will show what I meant. (if that's what you meant!  )


----------



## bowseruni (16 June 2008)

*Re: EGO - Empire Oil*

I got some more today (lots more) for 0.026, what is a good price to set as a selling trigger and sell point on comsec, is there a unwritten rule of 10% lower than purchase price or is it a personal thing?

still new and only just started using this feature.


----------



## NickVC (16 June 2008)

*Re: EGO - Empire Oil*

thanks for the above prompt responses re comsec.

for what it's worth, i've put in an order to purchase some more at market open for 0.025.  If the indicitive price is lower than that, then I may re-asssess.  However, at this stage I'm thinking that a lot of traders will realise overnight that they just got spooked and sold out for no good reason....I think that there will be a lot of people trying to buy back in tomorrow....massive volumes today and I would expect the same tomorrow.


----------



## LeeTV (16 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> I got some more today (lots more) for 0.026, what is a good price to set as a selling trigger and sell point on comsec, is there a unwritten rule of 10% lower than purchase price or is it a personal thing?
> 
> still new and only just started using this feature.



What new feature? I have wondered how to set a low end sell trigger at CommSec too. Can it be done? If so how?


----------



## NickVC (16 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> I got some more today (lots more) for 0.026, what is a good price to set as a selling trigger and sell point on comsec, is there a unwritten rule of 10% lower than purchase price or is it a personal thing?
> 
> still new and only just started using this feature.




I don't know, I have never used a sell trigger.  However, I have registered for it on Comsec, and will set a trigger for this stock.  I don't think you could have any set rule, at least not for a stock like this one.  My plan is to wait until they are getting close to target depths and then set a trigger for some price a bit below that. 



LeeTV said:


> What new feature? I have wondered how to set a low end sell trigger at CommSec too. Can it be done? If so how?




Never used it, but go to "orders" and then "conditional trading", apply to register online for conditional trading and then answer a few simple questions.


----------



## bowseruni (16 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> go to "orders" and then "conditional trading", apply to register online for conditional trading and then answer a few simple questions.




yeah that is correct, very easy to do. Just put in your trigger price and then your sell quantity and price. If you set the trigger to close to the current price it shows up a warning.


----------



## DavidB1 (16 June 2008)

*Re: EGO - Empire Oil*

i got hit big time today !
but there was a lot of ppl  bying at .024 and .025c 

i may by some tomorrow


----------



## benwex (16 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> It would be very bad form if he had inside knowledge and did sell. In fact it would be illegal - something called 'insider trading'. I see it from this angle, if there is bad news coming and he has sold out he is on record as having done so. Therefore would be investigated and charged if a case was found to exist for insider trading. So the more likely scenario is that the market is fully informed, (or good news is coming) and he simply needed the cash. I recall another stock where a director sold out a substantial portion of his holding, the market had a panic attack and the price dipped. Turns out the guy had just bought a multi million dollar house and needed the cash for the deposit....
> 
> We all have cash flow requirements at different points for different reasons (yes, maybe even BNB).
> 
> ...




How many people have successfully been prosecuted for inside trading???? not many Im afraid....

I hope this forthcoming anouncement is good news for all the EGO shareholders but I too would not gain confidence from seeing the directors selling out days before a release...

EGO has a bit of history and people should research their canning basin drilling campaign last year and subsequent releases vs share price.


benwex


----------



## cordelia (17 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> It would be very bad form if he had inside knowledge and did sell. In fact it would be illegal - something called 'insider trading'. I see it from this angle, if there is bad news coming and he has sold out he is on record as having done so. Therefore would be investigated and charged if a case was found to exist for insider trading. So the more likely scenario is that the market is fully informed, (or good news is coming) and he simply needed the cash. I recall another stock where a director sold out a substantial portion of his holding, the market had a panic attack and the price dipped. Turns out the guy had just bought a multi million dollar house and needed the cash for the deposit....
> 
> We all have cash flow requirements at different points for different reasons (yes, maybe even BNB).
> 
> ...



...

yes i agree...in fact the announcement had a covering letter..normally its just the appendix 3y form. I think he might have had to sell....


----------



## bowseruni (17 June 2008)

*Re: EGO - Empire Oil*

ok everyoe keeps saying to do my own research, well i have and i'm a little worried. Seems the director bought and sold the same shares in august 07 and the shares dropped down big time following. So hope it doesn't happen this time. 

Does seem odd to me that the director bought and sold shares that quickly, especially since he has done it before and the impact of the share price.

getting a little worried now


----------



## cordelia (17 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> ok everyoe keeps saying to do my own research, well i have and i'm a little worried. Seems the director bought and sold the same shares in august 07 and the shares dropped down big time following. So hope it doesn't happen this time.
> 
> Does seem odd to me that the director bought and sold shares that quickly, especially since he has done it before and the impact of the share price.
> 
> getting a little worried now




If it's any consolation the volume was huge yesterday but today its much lower and the sp has found support @.026...It hasn't gone lower.....


----------



## Datsun Disguise (17 June 2008)

*Re: EGO - Empire Oil*

Nothing to get worried about at the moment. The activities of the director are not an indicator of success or failure. Unless he has run off and done the drilling by himself and knows what is to be found 400 odd metres below the surface. 

Bowser - if he has a history of selling off in the run up to drilling then that actually eases my mind a little. It is a well used strategy to trade the run up to a drilling activity. You'll notice that whenever EGO (or any explorer) starts getting close to drilling the share price rises due to people getting in hoping for successful results. If you were to anticipate (through researching announcements) these programs and trade the pre-drilling activity every time then you can make consistent profits - albeit you'll never come across the 1000% gains that are sometimes possible. However in the long run you will probably do alright. This approach is what has got me into Ego at a low price - not the lowest, but low all the same.

I'm holding not just for the results of star finch but also for macleod and gingin - failures in star and macleod will provide buying opportunities for the gingin prospect (EP389) which is imo the big one (up to 1.3TCF gas...).

Remember this is not a blue chip, you have to expect some volatility.


----------



## DavidB1 (17 June 2008)

*Re: EGO - Empire Oil*

bought somemore to day 
 now have over 1.200.000 hope to see the sp back up to 3c tomorrow 

someone sold 15m at .025 thats why it went down just be for close


----------



## rub92me (17 June 2008)

*Re: EGO - Empire Oil*

Here's an hourly chart. To me it doesn't look promising with high volume rejections when price attempts to break through (circled on the chart). Doesn't mean it won't shoot up of course tomorrow :


----------



## bowseruni (18 June 2008)

*Re: EGO - Empire Oil*

gee wizz davidb1 your going in strong, 

can someone explain to me why the volume has a red and green? is it for bought and sold? also how does the volume relate to the SP? just trying to understand the above graph better.
cheers


----------



## rub92me (18 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> gee wizz davidb1 your going in strong,
> 
> can someone explain to me why the volume has a red and green? is it for bought and sold? also how does the volume relate to the SP? just trying to understand the above graph better.
> cheers



Volume bars in red means that the close price was lower than the opening price in the timeframe measured (1 hour in this case).
So what I see is that when price is moving up volume is relatively low and when price is going down it does so on relatively high volume. I interpret that as supply coming in (i.e. big holders unloading) everytime the price attempts to climb higher, i.e. bearish in the short-term. The problem with these speccie shares is of course that they're more driven by news rather than technicals, but barring any news I expect this to go down in the short term. 
Note: I don't hold and for holders' sake I hope I'm wrong.


----------



## Datsun Disguise (18 June 2008)

*Re: EGO - Empire Oil*

Of  course it depends on what you mean by short term b9 - but news flow shouuldn't be an issue over the next 2 months. Sounds like star finch will be spuding within the next couple of weeks, then macleod then stokes bay testing.

I got my SPP docs today - it includes an 08 - 09 activity statement. Plenty of targets for the next 18 months, looks like gingin is lined up for drilling in '09. 

I'm still torn between holding for the 'big one' or trading the spud dates. My head is telling me to trade, but my gut is telling me I'll end up missing out on the real moves... still haven't found a crystal ball I can trust either..


----------



## NickVC (18 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> I'm still torn between holding for the 'big one' or trading the spud dates. My head is telling me to trade, but my gut is telling me I'll end up missing out on the real moves... still haven't found a crystal ball I can trust either..




how about satisfying the head and the gut -trade half of your holdings to make a bit of cash from trading the fluctuations and the spud dates and, the other half, well take a punt and go for the big winner?


----------



## DavidB1 (18 June 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> gee wizz davidb1 your going in strong,
> 
> can someone explain to me why the volume has a red and green? is it for bought and sold? also how does the volume relate to the SP? just trying to understand the above graph better.
> cheers




yea going to by more 2morrow 
if didn't have 50k in glx i would by more lol 

and Datsun Disguise i'm with u don't no if i should sell out after spud dates or hold


----------



## deanoman (18 June 2008)

*Re: EGO - Empire Oil*

How long will they be in star finch before they hit lake mcleod. Also lake mcleod is there big one right!


----------



## NickVC (19 June 2008)

*Re: EGO - Empire Oil*



deanoman said:


> How long will they be in star finch before they hit lake mcleod.




They have predicted Star Finch to take 20 days, Lake McLeod is going to be drilled "back to back" with Star Finch.  Have a look at the 17 June company announcement for full details.


----------



## DavidB1 (20 June 2008)

*Re: EGO - Empire Oil*

bought some more to day .024 hope to see sp go up monday 
drilling starting soon 

this is so under valued .024c its a joke


----------



## prawn_86 (20 June 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> bought some more to day .024 hope to see sp go up monday
> drilling starting soon
> 
> this is so under valued .024c its a joke




Please enlighten us as to why it is undervalued DavidB1.

There is no assurance they will hit anything drilling, or if they do that it will be recoverable.

how about a bit of analysis to back up this ramp?


----------



## DavidB1 (20 June 2008)

*Re: EGO - Empire Oil*

1.Star Finch, and within 1 weeks the drill onsite and drilling of Star Finch 1
2. Pre-works in the process for Lake MacLeod 1;

Assuming the Star Finch-1 well is full to its spill point with natural gas, the estimated potential recoverable gas reserves are of the order of 50 billion cubic feet.
Empire Oil & Gas N.L.    22.856% 


The larger Lake MacLeod 
-1 Prospect if the structure is filled to its maximum spill point are in the order of 150 million barrels
Empire Oil Company (WA) Limited  57.14%

and if the director didn't sell his shares it would still be over 3c


----------



## ben_ben26 (20 June 2008)

*Re: EGO - Empire Oil*

Hi Guys, New member here, 

Have never brought stocks ever before until today, I brought 30,000 worth of EGO Empire Oil, I have been doing some research for the past 2 months on certain stocks and I thought I would have my first go at entering the stock market with EGO.


----------



## ShareDevil (20 June 2008)

*Re: EGO - Empire Oil*

Ahhh, welcome to the slaughter my son.

A miraculous 1000% rise you to do believe hmm? 

Should be a fun ride. Hi Ho! EGO and away!!


----------



## ben_ben26 (20 June 2008)

*Re: EGO - Empire Oil*



ShareDevil said:


> Ahhh, welcome to the slaughter my son.
> 
> A miraculous 1000% rise you to do believe hmm?
> 
> Should be a fun ride. Hi Ho! EGO and away!!





A 1000% rise would be nice, but I thought this stock would be a good learning stock for myself entering the stock market for the first time.


----------



## CATAPILLAR (20 June 2008)

*Re: EGO - Empire Oil*



ben_ben26 said:


> Hi Guys, New member here,
> 
> Have never brought stocks ever before until today, I brought 30,000 worth of EGO Empire Oil, I have been doing some research for the past 2 months on certain stocks and I thought I would have my first go at entering the stock market with EGO.




Greetings ben_ben26
Just wondering was it $30,000 worth of EGO or 30,000 shares? Just curious.
CATAPILLAR


----------



## ben_ben26 (20 June 2008)

*Re: EGO - Empire Oil*



CATAPILLAR said:


> Greetings ben_ben26
> Just wondering was it $30,000 worth of EGO or 30,000 shares? Just curious.
> CATAPILLAR




Sorry my bad, I brought 30,000 Shares, cost me $779 using Westpac Broking. I would like to invest a bit more, however apprentice wages arnt all the greatest.


----------



## DavidB1 (21 June 2008)

*Re: EGO - Empire Oil*



ben_ben26 said:


> Sorry my bad, I brought 30,000 Shares, cost me $779 using Westpac Broking. I would like to invest a bit more, however apprentice wages arnt all the greatest.




we all start some where 
i was 16 and loss 6k lol good old sausage software and (dvt) 

as i posted think this stock will do all right if they find any thing


----------



## lioness (21 June 2008)

*Re: EGO - Empire Oil*

I sold the lot last week when the director Joyce dumped all his shares on the market. I am glad I did and will not revisit this again until Lake Macloud is due.

Too risky now given the DOW falling hard and our market to do the same this week. I will come back when things are more steady.

I suffered no loss and only a little gain but can sleep at night.

I owned 8.5 million shares at one stage and realised when the director sold that all it takes is one announcement you are not expecting to kill a stock.

I am now very glad I did.


----------



## NickVC (21 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> I sold the lot last week when the director Joyce dumped all his shares on the market. I am glad I did and will not revisit this again until Lake Macloud is due.
> 
> I owned 8.5 million shares at one stage and realised when the director sold that all it takes is one announcement you are not expecting to kill a stock.




I took a different approach and used it as an opportunity to buy more shares at 0.025.  Risky, perhaps, but I am fairly confident that prior to target depths being reached the share price can only increase as the momentum builds (unless there is rain or any other disaster).


----------



## lioness (21 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> I took a different approach and used it as an opportunity to buy more shares at 0.025.  Risky, perhaps, but I am fairly confident that prior to target depths being reached the share price can only increase as the momentum builds (unless there is rain or any other disaster).




Nick,

The other diaster is the DOW falling through support at 11750.

There are many nervous holders in EGO as it is a speccie and that director has killed it short term by offloading 6.5 million shares. People are not as confident now in this anymore. You will see this next week whether it will hold or breakdown.


----------



## Kuade (22 June 2008)

*Re: EGO - Empire Oil*

I've only been looking at EGO in the last week but am finding it may be a worthwhile spec.

The offload in shares by the director was him cashing in his options, then selling them, whilst still holding his original number of shares. I see this as slightly different to him just offloading his holding of shares.


----------



## nick2fish (22 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> I owned 8.5 million shares at one stage and realised when the director sold that all it takes is one announcement you are not expecting to kill a stock.
> 
> I am now very glad I did.




Jezz... I think we're married cause you sound like my wife  
Here's another spin 
EGO 23/09/07 SP: 0.030
EGO 22/06/08 SP  0.024
Thats after sup prime and the Feb/ Mar crunch and ARQ's fumble around with testing Stokes.
Now you got ... still a bear market but...drill ready sites and the all important Stokes Testing to be concluded once and for all after merger bedded down.(No matter what FAR says)
Seems to me EGO is a much better play now than what it was.
But I don't have thousands to throw at it  
I"m still trying to decide if throwing 5k its way on my budget will be ok
But you know fortune sometimes favours the brave


----------



## Datsun Disguise (23 June 2008)

*Re: EGO - Empire Oil*



lioness said:


> Nick,
> 
> The other diaster is the DOW falling through support at 11750.
> 
> There are many nervous holders in EGO as it is a speccie and that director has killed it short term by offloading 6.5 million shares. People are not as confident now in this anymore. You will see this next week whether it will hold or breakdown.




I reckon the dow and ego are about as connected as GW Bushes head is to his ar... sorry bad example, but you get my drift. If you are talking about blue chips and mid caps then yeah you need to worry about what the dow does. For ego (and it's kin) it is all about targets, spud dates and drilling reports. All of which we have plenty!

Is it me or did a whole lot of posts go missing from this thread? - CIA they're everywhere


----------



## bowseruni (24 June 2008)

*Re: EGO - Empire Oil*

why did the price drop today with the announcement stating the purchasing of shares will cease beginning of July? I would have thought they would have gone up not dropped.

what does the announcement mean? will you not be able to buy ego shares after 4th July?


----------



## Kuade (24 June 2008)

*Re: EGO - Empire Oil*

I don't think the drop had anything to do with the announcement. The announcement was a reminder rather than new data or news.


----------



## Datsun Disguise (24 June 2008)

*Re: EGO - Empire Oil*

Reading between the lines the announcement was indicating that they are having trouble filling the SPP offer. That sort of thing will always unnerve peole. The other clanger was about macleod being 30m barrels on a conservative estimate and the 150m target was the best estimate. So it throws a bit of cold water on things.

Are they deliberately pushing the SP down? Can't imagine why, but why change your comms regarding the maclod target now?

Not happy as todays movement stopped me out. Now have to see if I get an opportunity to get back in....


----------



## ben_ben26 (24 June 2008)

*Re: EGO - Empire Oil*

I wonder if these shares will ever hit $0.10Cents? Hopefully the next few months has some positive outcomes.


----------



## bowseruni (24 June 2008)

*Re: EGO - Empire Oil*



ben_ben26 said:


> I wonder if these shares will ever hit $0.10Cents? Hopefully the next few months has some positive outcomes.





hope so because my stop is coming up very soon if it drops much more, hopefully it rises back up a bit tomorrow


----------



## DavidB1 (25 June 2008)

*Re: EGO - Empire Oil*

hey 
ppl 

Support at 2c don't think it will go under that there is a lot of buys .020 to .022

a spud date announcement should come soon and the sp should start to go up i hope 

still holding i may buy more tomorrow if it at 0.021


----------



## NickVC (26 June 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> hey
> ppl
> 
> Support at 2c don't think it will go under that there is a lot of buys .020 to .022
> ...




There was also a lot of buys at 0.24 a few days ago, and a lot of high volume purchases in the mid to high 0.20's previously.  EGO just doesn't seem to be following any logical patterns. In any case, I hold and will continue to hold until there is some actual news as I don't intend to be spooked by announcements that cannot logically have any possible bearing upon what they may find at SF.

Best of luck to those who have not got spooked , and also to those who have but who re-enter at the current low prices .  If they hit anything in SF (and the prospects of that occuring have obviously not changed), then the 0.1 increments that many people (on low volumes, mind you) are worried about will be rendered nugatory.

Having regard to the volumes that were purchased in the mid to high 0.020's, I consider that the recent declines will have a negligible impact upon the ultimate SP in the lead up to target depths.  The volumes indicate IMO that the majority of those who purchased still hold.

..and Datsun, what happened to riding the SP increase as it nears drilling depths or, alternatively, going for the big one and waiting for the drilling results.  Did you deliberately leave your stop loss in place, or did you just not cancel it in time


----------



## Datsun Disguise (26 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> ..and Datsun, what happened to riding the SP increase as it nears drilling depths or, alternatively, going for the big one and waiting for the drilling results.  Did you deliberately leave your stop loss in place, or did you just not cancel it in time




Oh I'm ashamed so ashamed.....   I had my stop in place to ensure that i made some profit if the price fell - I really thought it was conservative enough that if it got triggered it would be due to sf hitting nothing... Wrong, again.

Anyway I am looking for a re-entry today. I'll let you know how I go!!


----------



## NickVC (26 June 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Anyway I am looking for a re-entry today. I'll let you know how I go!!




Do you agree that all these 0.01 changes are negligible in the overall scheme of things any way, and having regard to that are you going to just re-enter at whatever traspires to be the indicitive open price?


----------



## Datsun Disguise (26 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> Do you agree that all these 0.01 changes are negligible in the overall scheme of things any way, and having regard to that are you going to just re-enter at whatever traspires to be the indicitive open price?




Hi Nick - In the scheme of thing IF ego prove their targets then yes all this pfaffing around between 2 & 3 cents will be irrelevent. However at this point i think it is all very relevant. All this movement on news that is pretty well unrelated to the quality of the targets (notwithstanding the talk of 30m at LM) shows that those interested are a pretty nervous lot. The ones left holding now are the true believers - they probably won't look at selling unless we see something below 2 cents. I think it will take a move up to 2.4c to tempt the recent sellers back in, when fear of losing starts to turn to fear of missing out... 

I haven't re-entered yet, I've got two strategies, one on a dip and the other on a rise. I've a feeling it will be the rising price trigger that fires first....

Good luck all, I still think this has great possibilities - the best is yet to come with gingin. Mustn't be too far from an announcement yet - lets just hope it has the desired impact on the sp.


----------



## Datsun Disguise (26 June 2008)

*Re: EGO - Empire Oil*



NickVC said:


> Do you agree that all these 0.01 changes are negligible in the overall scheme of things any way, and having regard to that are you going to just re-enter at whatever traspires to be the indicitive open price?




Somehow I just lost my whole post while editing my usual crap grammar & spilling. ha ha

Anyway here is a reproduction.
If ego hits its targets then yes, 0.1c moves now will be virtually irrelevant, but at the moment it is very relevant. The recent movements on news that is mostly unrelated to the targets (except the conservative 30m LM target) shows us how nervous holders can be. I don't have a firm view of which way next and so have set up my re-entry strategy for both a rising and falling sp. 
The current holders obviously have stronger stomaches than the recent sellers. It would probably take an sp of under 2c to upset them and prompt some more sellers - this would probably be bad and present some good buying ops. The second scenario is that it hits 2.4c at which point a proportion of recent sellers would start to fear missing out and possibly re-enter. So if we move from 2.1 - 2.2 I think it will be up to 2.6ish or down to 1.7/1.8 with some possible lower dips fed by panic. This is in the absence of any good or bad news.

Given a gas strike at SF I don't see why we wouldn't see it spike up to the 6c that we saw last year on stokes bay. A miss and anything could happen. I'm not going risk the sheep station on this, but doing my best not to miss out on success either.  

Good luck all.


----------



## OpenSeason (29 June 2008)

*Re: EGO - Empire Oil*

Is it just me or does anyone else think this Month will be make or break for EGO? 

Hopefully we will start to see some good annoucements in the coming week. Spudding should be just around the corner.

I hold this stock and really hope it turns out well for all of us.


----------



## Wysiwyg (29 June 2008)

*Re: EGO - Empire Oil*



OpenSeason said:


> Is it just me or does anyone else think this Month will be make or break for EGO?
> 
> Hopefully we will start to see some good annoucements in the coming week. Spudding should be just around the corner.
> 
> I hold this stock and really hope it turns out well for all of us.




With the gas problems W.A. are saying they have, any discovery of size could be more attractive to traders.Finch is gas and if the bulls come back to EGO again, then s.p. multiplication is always possible.Me not a holder.


----------



## leigh_munro (30 June 2008)

*Re: EGO - Empire Oil*

Maybe a good sign.... There are a couple of small pre open buy orders sitting at 0.03 this morning.....


----------



## Datsun Disguise (30 June 2008)

*Re: EGO - Empire Oil*

Bit disappointed that it didn't hold up after trading quite well today, but I suppose this one is always going to attract the traders. Ideally we'll see more good trade tomorrow but without the profit taking at the end of the day.

Haven't re-entered yet, got two concerns, a late start for sf drilling and a less than completely successful SPP. If either of these arise we could see another whack delivered - for no good reason I agree, but the last two whacks weren't really for much of a good reason either...

Good luck all - next 2 weeks are critical, but not make or break. There are plenty of other targets over the next year or so - especially gingin Thats where the real money is.


----------



## Trader Paul (2 July 2008)

*Re: EGO - Empire Oil*



Hi folks,

EGO ... as expected, on the move ... after a minor 
and positive cycle on 11072008, we expect some
positive news, around 14-15072008 ... 

... will take profits by 17-18072008, when the
first of several negative cycles should arrive.

have a great day

  paul



=====


----------



## DavidB1 (2 July 2008)

*Re: EGO - Empire Oil*

yea was good Volume: 53,793,079
the buyers are back 

up up and a way 
i was waiting on money and couldn't buy at .022 
got the money today going to buy some more


----------



## NickVC (2 July 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> yea was good Volume: 53,793,079
> the buyers are back
> 
> up up and a way
> ...




What's you're plan, are you going to try to sneak in and get lucky at 0.026 or are you going to guarantee your position and go in pre-open at 0.027?


----------



## DavidB1 (2 July 2008)

*Re: EGO - Empire Oil*



NickVC said:


> What's you're plan, are you going to try to sneak in and get lucky at 0.026 or are you going to guarantee your position and go in pre-open at 0.027?




well buy half at .027 and put a order a .026 for the next half

buy all at .027
or wait in line hope for .026 

mm got to sleep on it 

but i think ill just buy at .027 whats point 1 if there going to be 5 or 6c


----------



## ben_ben26 (3 July 2008)

*Re: EGO - Empire Oil*

Im also considering purchasing some more EGO Shares today, I think the price will drop .002 back to $0.024 by end of trading today, some good signs, would love to see the stock sp hit 0.10


----------



## prawn_86 (3 July 2008)

*Re: EGO - Empire Oil*



ben_ben26 said:


> Im also considering purchasing some more EGO Shares today, I think the price will drop .002 back to $0.024 by end of trading today, some good signs, would love to see the stock sp hit 0.10




Any analysis behind any of that, or is it just pointless?

Im sure any of the holders would love to see it hit $1 or $100 buts its probably not going to happen is it


----------



## ben_ben26 (3 July 2008)

*Re: EGO - Empire Oil*



prawn_86 said:


> Any analysis behind any of that, or is it just pointless?




Well after analyzing a few charts of the sp trends I knew it would drop about 0.02cents today and which it did. closed today at 0.024.

Also brought another 60,000 shares today in EGO.


----------



## prawn_86 (3 July 2008)

*Re: EGO - Empire Oil*



ben_ben26 said:


> Well after analyzing a few charts of the sp trends I knew it would drop about 0.02cents today and which it did. closed today at 0.024.
> 
> Also brought another 60,000 shares today in EGO.




Care to post those charts explaining you analysis?

I would have thought the drop today had more to do with the market overall rather than EGO itself


----------



## NickVC (6 July 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> I haven't re-entered yet, I've got two strategies, one on a dip and the other on a rise. I've a feeling it will be the rising price trigger that fires first....




Have you hit your rising buy trigger yet Datsun?  High of 0.028 on Friday, with big volumes in the last half hour of trading.

SPP date was 4 July and, according to another forum, it looks like they have been drilling this weekend.  So we should have a spud announcement, I suspect, on Monday (possibly during the pre-open).


----------



## NickVC (6 July 2008)

*Re: EGO - Empire Oil*

Also, intraday chart attached for those that are interested.  Looks to be a possible breakout (bollinger properties- period: 21, standard deviations:2).


----------



## Datsun Disguise (6 July 2008)

*Re: EGO - Empire Oil*



NickVC said:


> Have you hit your rising buy trigger yet Datsun?  High of 0.028 on Friday, with big volumes in the last half hour of trading.
> 
> SPP date was 4 July and, according to another forum, it looks like they have been drilling this weekend.  So we should have a spud announcement, I suspect, on Monday (possibly during the pre-open).




Hi Nick - yep, the 2.4c on monday hit the warning bell and I got in at 2.5 on Wednesday. I'm not in as heavy as before, put some into PPP which I'm going to put a post up on tonight.

There's plent of people watching this so hopefully good news will have the opposite effect (ie +1c) to the director sale and SPP announcements!!!

Good luck EGOers.


----------



## deanoman (9 July 2008)

*Re: EGO - Empire Oil*

Empire Oil & Gas (ASX:EGO) SPUDS STAR FINCH-1, EP 460, CARNARVON BASIN, WESTERN AUSTRALIA

Perth, July 8, 2008 (ABN Newswire) - Empire Oil & Gas (ASX:EGO)(PINK:EOLGF) Announce the Star Finch-1 well commenced drilling (spudded) at 0600 hours on 8 July, 2008 upon drilling out the 13 3/8" conductor set at a depth of 19 metres. The current operations at 0900 hours on 8 July 2008 is drilling ahead in 311mm (12 1/4") hole at 27 metres depth. Planned operations in the next 24 hours, will be drilling ahead in 12 1/4" hole.

The future drilling operations will be drilling ahead with 12 1/4" hole to approximately 100 metres where the 244mm (9 5/8") casing will be run and cemented. This 'top hole' drilling operation will be undertaken only in daylight hours.

Upon the 9 5/8" casing being cemented, the blow out prevention equipment will be installed and pressure tested, prior to drilling ahead with 8 1/2" hole. This will be the commencement of a 24 hour drilling operation with careful monitoring of the wellbore for oil and gas while drilling the Cretaceous aged reservoir objectives. The total depth of the Star Finch-1 well is 450 metres. 

STAR FINCH-1 PETROLEUM EXPLORATION WELL EP 460, WESTERN AUSTRALIA

1. Well Name/Permit 
Star Finch-1/EP 460, Western Australia

2. This report is for the Period: 
The period 0600 hours WST 8 July 2008 to 0900 hrs WST 8 July 2008

3. This ASX Release Time and Date: 
0900 hours WST 8 July 2008

4. Report No: 
1

5. Spud Date/Rig: 
DCA Rig 7 0600 hours WST 8 July 2008

6. Days since Spud: 
0

7. Location of Well: Latitude 240 44' 00' S Longitude 1130 44' 20" E

8. Elevation: 
G.L. Above MSL - 6 metres
RT. 3 metres
RT to GL 10 metres

9. Proposed Total Depth: 
450 metres

10. Targets: 
Primary Reservoir Objective: Birdrong Sandstone @ 390 metres

11. Present Depth: 
At 0900 hours 8 July 2008 27 metres

12. Geological Summary: 
At 0900 hours 8 July 2008 at 27 metres Drilled surface coastal Quaternary hard limestone

13. Hydrocarbon Indications: 
At 0900 hours 8 July 2008:
None anticipated in Quaternary/Tertiary sediments

14. Operations since last Report: 
Preparing to spud from 13 3/8" conductor set at 19 Metres

15. Current Operations: 
At 0900 Hours 8 July 2008 Drilling hole 12 1/4" (311mm) hole at 27 meters.

16. Future Operations: 
Drill ahead 12 1/4" hole to 100 metres. Run casing and cement. Install blowout
prevention equipment.

17. Prospect Description: 
The Star Finch Prospect is a reverse faulted anticlinal structure formed by mid-Miocene compression. Potential hydrocarbons in the Star Finch structure are interpreted to have migrated up out of the Devonian sediments by faulting and fracturing during this compression. The main objective in the Star Finch Prospect is the Birdrong Sandstone. The nearby Bibbawarra Bore encountered approximately 15 metres of Birdrong Sandstone sealed by 27 metres of Muderong Shale. The prospect covers a large area of 3,000 hectares and potential recoverable reserves are estimated to be of the order of 50 billion cubic feet of gas or 25 million barrels of oil assuming a 5 metre oil leg. The Star Finch Prospect demonstrates bright seismic anomalies over the mapped closure. Bright anomalies have been a successful indication in many cases for natural gas entrapment in the Carnarvon Basin.

18. Participants in the well: 
--------------------------------------
Empire Oil & Gas N.L. (Rough Range Oil
 Pty Ltd - Operator)     - 22.856%
Jurassica Oil & Gas Plc      - 40%
Longreach Oil Limited     - 9.352%
Indigo Oil  Pty Ltd       - 4.676%
Falcore Pty Ltd           - 2.596%
Vigilant Oil Pty Ltd       - 0.52%
DVM International Limited    - 20%
------------------------------------



About EMPIRE OIL & GAS NL

Empire Oil & Gas NL is an Australia-based company that is principally engaged in oil and gas production and exploration. The Company has produced and sold to BP Kwinana Australia Pty Ltd, a total of 30,733 barrels of oil. The Company applied for a Production License 1/04-5L over the Rough Range 1B oil well area. The Company, together with farminees, Phoenix Resources Plc, Black Fire Energy Limited and the EP 435 Joint Venture participants, Australian Oil Company Limited and Bounty Oil & Gas N.L. drilled the Parrot Hill-2 well during April 2007. The Company commenced drilling on April 9, 2007, and reached its total depth of 1,232 meters on April 19, 2007. The Company's wholly owned subsidiaries include Empire Services Pty Ltd, Empire Oil Company (WA) Limited, Gulliver Productions Pty Ltd, Rough Range Oil Pty Ltd and St. George Petroleum Limited

http://www.abnnewswire.net/press/en...EP_460_CARNARVON_BASIN_WESTERN_AUSTRALIA.html


----------



## YOUNG_TRADER (9 July 2008)

*Re: EGO - Empire Oil*

EGO is such a puzzle

It will have around 3Billion shares after this SPP which at an SP of 2.5c = *a Mkt Cap of $75m*

Now it has a *23% interest in Star Finch 1 which has a target of 25M bls of Oil and 50Bcf of Gas*

The second well is much more interesting, EGO will have a *30% interest in Lake Macleod which has a target of 150M bls of oil*

I don't own any EGO and fundamentally I think it is wayyyyy overpriced, however I will buy some at the right time for a trade as given the size of Lake Macleod (the second well) it will get alot of attention


----------



## deanoman (9 July 2008)

*Re: EGO - Empire Oil*



YOUNG_TRADER said:


> EGO is such a puzzle
> 
> It will have around 3Billion shares after this SPP which at an SP of 2.5c = *a Mkt Cap of $75m*
> 
> ...




Correct me if im wrong, because i have just started doing this but there 4-5 mil bls they stand to make from star finch worth roughly 80-100 million dollars.

Shouldnt egoers expect the current sp to easily double as the market cap is only 58mil (google finance).

Again man not saying your wrong just trying to learn.


----------



## DavidB1 (9 July 2008)

*Re: EGO - Empire Oil*



YOUNG_TRADER said:


> EGO is such a puzzle
> 
> It will have around 3Billion shares after this SPP which at an SP of 2.5c = *a Mkt Cap of $75m*
> 
> ...




hey 
got this off the Empire Oil web page 

Empire Oil Company (WA) Limited 

 57.14% in Lake Macleod  

i hold ego 



and i hit the multiq button accidently  
sorry cya david


----------



## Datsun Disguise (9 July 2008)

*Re: EGO - Empire Oil*

Given that EGO hasn't found anything yet, then yes I'd agree that it is overvalued at the moment. But the premium in the SP at the moment is due to the speculation for initially SF, followed by LM.

If you have a look through the targets that accompanied the SPP you'd have to say that the 1.5c of spec at the moment is warranted.

My calcs suggest a SF discovery is worth about 3c as an asset - so maybe 4c fair value for the SP. If they do strike I'd expect 5-6c to be achieved before falling back pending testing and all that annoying commercialisation stuff.

I ignore the increase is issued shares in calcuating cap as they are receiving cash for it so in my view it cancels itself out (for now). Of course they will start spending it to drill, but being optimistic they'll be converting it from a cash asset into a resource.

No doubt this is pure spec, but plenty of opportunity to make $$$. Don't get caught holding if it's a duster though (better to be waiting at the 1 - 1.5c range to pick up some bargains for the next round of drilling!)

My opinion is that the gingin prospect is the big one - very high confidence and an existing pipeline 2.5km away - lovely. But not on the 2008 schedule.


----------



## bhutos (11 July 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> hey
> got this off the Empire Oil web page
> 
> Empire Oil Company (WA) Limited
> ...




It's 30.356%. And the P50 is more like 30mmbbl. I wouldn't base anything reliable on filled-to-spill figures.


----------



## bowseruni (14 July 2008)

*Re: EGO - Empire Oil*

can someone explain to me why the SP is dropping? the daily report shows good news of the drill ahead of schedule but the SP keeps dropping. Why?


----------



## Go Nuke (14 July 2008)

*Re: EGO - Empire Oil*

Because the whole market is going down the gurgler.

People are taking their money off the table as things are wayyy too unstable at the moment. And EGO is high risk.

I think that sums it up


----------



## YOUNG_TRADER (14 July 2008)

*Re: EGO - Empire Oil*

100% agree with what Nuke said,

People really don't get how ugly the mkts are/have been, some say we're getting close to a bottom others say more pain to come

Specs like EGO offer excellent trading opportunities especially with these monster high impact wells, like the upcoming Lake Macleod, the problem is they are hit or miss

If they hit (ie success) then you get a KEY or ERH massive returns

If they miss (more likely) then you get a BAS/MOG collapse

Not holding any EGO and haven't held for a quite awhile now, but I will want some exposure tot he upcoming Lake Macleod well which is 3 weeks off I think


----------



## Trader Paul (16 July 2008)

*Re: EGO - Empire Oil*



Trader Paul said:


> Hi folks,
> 
> EGO ... as expected, on the move ... after a minor
> and positive cycle on 11072008, we expect some
> ...






Hi folks,

EGO ... would not be surprised to see another selloff soon,
as nippling up and testing of this stack seems to be taking
longer than normal .....

..... though they have been ahead of the curve to date,
any further delay may indicate some mechanical problems
or suchlike, that may cause some delays and nervousness
amongst traders !~!

have a great day

paul



=====


----------



## YOUNG_TRADER (16 July 2008)

*Re: EGO - Empire Oil*

So I was wrong about the total amount of shares fully diluted,

Its closer to 2.7 Billion not 3 Billion

*@ 2.2c = $60m Mkt Cap *so still not cheap fundamentally but does offer good spec trading  for the upcoming Lake Macleod well

To give you an idea of the value Lake Macleod is a discovery we would assign an *EV of say $30bl* to EGO

Now although the estimates for Lake Maceod are 150M bls, someone has correctly pointed out that this is if its filled to maximum spill point

However of equal importance is the fact that this is not an Oil In Place (OIP) but rather recoverable reserves, which is always a much much smaller figure, ie for there to be *150M bls in recoverable reserves *the OIP would have to be 300Mbls-450Mbls, any way you look at it Lake Macleod will be a very large well and should attract alot of attention

Now assuming Lake Macleod is succesful and 150M bls of Oil is recoverable, EGO with its Net 30% interest would then have Net 45M bls of oil which at $30 Bl EV = $1.35 Billion = 50c a share EGO

Now it must be stressed this is assuming a full discovery at Lake Macleod (filled to the spill) which I think is unlikely, but it does show the massive upside should Lake Macleod come in

I don't hold any EGO, however have traded age's ago and like I said I do want some exposure to the upcoming Lake Macleod well however I have found a less risky way in


----------



## leigh_munro (16 July 2008)

*Re: EGO - Empire Oil*



YOUNG_TRADER said:


> I do want some exposure to the upcoming Lake Macleod well however I have found a less risky way in




Care to elaborate? If you think there are better options i would love to hear your opinion...

It wouldnt be via Longreach Oil Limited would it?


----------



## YOUNG_TRADER (16 July 2008)

*Re: EGO - Empire Oil*

Hey Leigh, 

Nah its not LGO, LGO is also a spec oiler and in desperate need of cash, 

BFE is the one I like for exposure to Lake Macleod, while it may only have a 7% interest in the well = 1/4 th EGO's its mkt cap is around 1/6th EGO's and this is just a side intesrest for the company as its main focus is Iron Ore in Africa


----------



## Trader Paul (16 July 2008)

*Re: EGO - Empire Oil*



Hi folks,

EGO ..... figure it will be mostly negative now, until about 11082008,
when the first positive cycle in the next round should arrive ... 

   18072008 ... negative cycle ... finances???

   29072008 ... 2 cycles & negative spotlight on EGO ... 

   11082008 ... minor and positive cycle 

13-14082008 ... minor and positive news expected

   29082008 ... 2 cycles = minor & positive light on EGO 

03-05092008 ... 2 cycles to bring minor news ... ???

   29092008 ... 2 positive time cycles

13-14102008 ... significant and positive cycle

   24102008 ... minor and positive cycle

29-30102008 ... positive spotlight on EGO ..... 

07-10112008 ... significant & positive news expected here

17-18112008 ... minor and positive ... finances???

   25112008 ... minor cycle

   28112008 ... minor cycle

12-15122008 ... significant and negative ... finances??

   16122008 ... minor and positive news expected

24-29122008 ... minor and positive light on EGO

07-08012009 ... significant and negative news expected here

More later.

have a great day

  paul



=====


----------



## CATAPILLAR (16 July 2008)

*Re: EGO - Empire Oil*



Trader Paul said:


> Hi folks,
> 
> EGO ..... figure it will be mostly negative now, until about 11082008,
> when the first positive cycle in the next round should arrive ...
> ...



Trader Paul just curious as to how you can speculate dates and events. I have read some of your other prophecys and they didn't come true. 
CATAPILLAR


----------



## Wysiwyg (16 July 2008)

*Re: EGO - Empire Oil*



CATAPILLAR said:


> Trader Paul just curious as to how you can speculate dates and events. I have read some of your other prophecys and they didn't come true.
> CATAPILLAR




I was gobsmacked with Yogis call on MEO (he sniffed bad news coming) so although the dates and events are obscure, I now have more respect.


----------



## CATAPILLAR (17 July 2008)

*Re: EGO - Empire Oil*

Still with Trader Paul. still curious of your method of prediction?
Too many dates and forseeing are you using crystal ball or Tarot cards or is it insider news? Don't mean to sound rude but are  just curious of your method as I have some of the shares you've made predictions on and they have all been duds.
CATAPILLAR


----------



## YOUNG_TRADER (17 July 2008)

*Re: EGO - Empire Oil*

Catapillar, 

I use Fundamental Analysis for my stock picking and I get it wrong too, often its only a matter of timing, ie with enough time my faith is usually vindicated, I suspect that with enough time Yogi/Pauls predictions come through too


I think its Gann Charts or something from memory? But best to let Paul explain it

Also Catapillar EGO is going to spud Lake Macleod early August and considering it is a massive 150M Barrels of Recoverable Oil I have no doubt it will attract alot of attention which ironically enough does line up with Pauls "positive cycle"


----------



## Trader Paul (17 July 2008)

*Re: EGO - Empire Oil*



CATAPILLAR said:


> Still with Trader Paul. still curious of your method of prediction?
> Too many dates and forseeing are you using crystal ball or Tarot cards or is it insider news? Don't mean to sound rude but are  just curious of your method as I have some of the shares you've made predictions on and they have all been duds.
> CATAPILLAR






Hi folks,

Anything is possible Catapillar and you'll never find any claim from this end, 
that time cycle analysis is a stand-alone method of analysis, instead it 
should be used to CONFIRM our regular TA, at ALL times.

Many traders use only half of the information available from the charts,
as their total focus relies on lagging indicators, based on the price axis.

Using time cycles to identify a date cluster is part of the work, but Gann
also recognised the true nature of the those individual cycles ... as a 
consequence, by using our time cycle analysis to confirm our regular TA,
we can better appreciate traders' sentiment towards any market, at any
given TIME.

have a great day

  paul

P.S. ... for the skeptix, nobody is claiming 100% success  by including time 
          cycles in our analysis, but it can sure help to better understand,
         just WHEN to hold and WHEN to exit.



=====


----------



## bhutos (17 July 2008)

*Re: EGO - Empire Oil*



Wysiwyg said:


> I was gobsmacked with Yogis call on MEO (he sniffed bad news coming) so although the dates and events are obscure, I now have more respect.





Enough random predictions will result in a % of dramatic hits like on MEO (as well as an equal amount of dramatic misses). Remembering the hits and forgetting all the misses is what leads some people to think "hey maybe financial astrology works." 
Just remember that not one of the 4 predictions for the last 30 days on this stock came true. Which is bad even for random predictions. I know you will still weigh that one hit on MEO over the 4 bad calls on EGO because that's what you're focussing on but whatever, not really going to convince anyone of anything.

Here's a prediction: of the 18 astrological predictions made at the top of this thread, some will be good and some will be bad, just like a dartboard, however in 6 months not one person here is going to go back over the predictions and see that he was as wrong as he was right, and someone will bump the one prediction out of the 18 that hit the nail on the head and everyone will go "wow". No one will point out the one stunningly bad prediction and bother to post about it. It's basic probability combined with selection bias. Not sure why so many people good with numbers don't notice this.

*shrugs* not a flame on Paul. Everyone keep believing what they want.


----------



## prawn_86 (20 July 2008)

*Re: EGO - Empire Oil*



prawn_86 said:


> I dont know anything about the fundamanetals of this stock, but it has a history of pump and dump.
> 
> Look what happen last time they ran up quickly. I know it gets a lot of attention from other forums so be very careful.




Those buying back in mid june when i posted this have been burnt slightly.

Again, im am wary of this stock, although i know very little about it, apart from its price history.

Just be careful is all im saying


----------



## bowseruni (22 July 2008)

*Re: EGO - Empire Oil*

good rally on these guys today, although i'm not as confident as i was back when i bought and are thinking of off loading towards the end of the week. I bought in at 2.5c each and may offload if/when they get back to that.

the daily reports indicate to me that drilling is easier than expected, hopefully the coming days will continue this way and they get ahead of time schedule again and the sp acts accordingly.

any thoughts on my above comments?


----------



## Datsun Disguise (22 July 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> good rally on these guys today, although i'm not as confident as i was back when i bought and are thinking of off loading towards the end of the week. I bought in at 2.5c each and may offload if/when they get back to that.
> 
> the daily reports indicate to me that drilling is easier than expected, hopefully the coming days will continue this way and they get ahead of time schedule again and the sp acts accordingly.
> 
> any thoughts on my above comments?




Hi Bowser,
The deeper the bit gets the higher the risk! Looks like they are powering through at the moment. We are approaching 'D' ecision day very quickly. Obviously  possibilities are - they hit or they miss. If they hit holders will be very pleased with themselves. A miss and the remorse will be palpable. Although it will be interesting to see how far they fall given LM is coming up. In my view if it gets dumped in the same manner as it did when moriary turned up dry then that spells opportunity for an entry for the LM action. I'll be watching very closely!

Prawn gave some advice a while back about being careful - now is the time to tread very lightly. Make sure you have a stop loss in place in case they miss. It can also be sensible to have a rising sell in place at a stretch price. With the interest EGO has generated, if they hit anything it will be over bought before the profit taking starts and sends the price back down.


Good Luck EGOers - but be careful out there....


----------



## bowseruni (22 July 2008)

*Re: EGO - Empire Oil*

i currently have a stop in place, currently set at 1.5 cents, do you think this is a good price for the stop? is there a rough guide to how low to set a stop?
I have not had much success with stops before and have set them too close to the trading price and sold too early in some cases. judging i bought them at 2.5c


----------



## Trader Paul (23 July 2008)

*Re: EGO - Empire Oil*



Trader Paul said:


> Hi folks,
> 
> EGO ..... figure it will be mostly negative now, until about 11082008,
> when the first positive cycle in the next round should arrive ...
> ...






Hi folks,

EGO ..... ticking up, ahead of SF reaching TD ..... figure we'll
be hearing about the P&A around 29072008, when 2 negative
cycles are due to slot into place ... will be taking profits before then ... 

have a great day

paul



=====


----------



## Datsun Disguise (23 July 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> i currently have a stop in place, currently set at 1.5 cents, do you think this is a good price for the stop? is there a rough guide to how low to set a stop?
> I have not had much success with stops before and have set them too close to the trading price and sold too early in some cases. judging i bought them at 2.5c




I think that's a bit low bowser - but each to his own. I'd expect the price to sit around 2.3 to 2.5 as we approach TD. If the miss it will fall back quite quickly and probably down to the level of your stop - given the imminent start for LM I don't thnk it will go much further than 1.5 - maybe 1.3 at a stretch. You might be stopping yourself out at the lowest point for the short term. I'd review your stop the day before you expect TD to be reached, use a tolerance of 15 - 20% for your stop. If it falls that much you'd expect that it would be due to a dry well. Remember that the markets leak so some will know the result of the drill before the market does so watch volume and price moves around TD as well.

Played correctly you can reduce your risk on these speccies to satisfactory levels - this is definitely not a set and forget share, watch it closely and be ready to act fast!


----------



## leigh_munro (23 July 2008)

*Re: EGO - Empire Oil*

New Announcement 

Looks like the market doesnt like the news.  Shares have dropped 30% almost immediatly... have hit a recent low of 0.017


----------



## bowseruni (23 July 2008)

*Re: EGO - Empire Oil*

not good at all, I had a gut feeling telling me to sell up in the morning and i should have listened i think. Looks like some resistance at 16-17c....hopefully


----------



## white_goodman (23 July 2008)

*Re: EGO - Empire Oil*

so the hydrocarbon thing means no oil??? were they banking on this project to be the big earner? or have they got others in the pipeline so to speak?


----------



## Go Nuke (23 July 2008)

*Re: EGO - Empire Oil*

Yep..here comes the dump!utthedoor:

Buyers all but disappeared after that ann.

Guess this will see how much people think Lake Mcloud is worth regarding how low the price drops.

I'll place a small buy in at .01c incase the DOW has a shocker night or some other disaster strikes


----------



## bowseruni (23 July 2008)

*Re: EGO - Empire Oil*

yeah not a good day, i wasn't near my pc when the bad news came through. Thinking they will drop a little more tomorrow but not too much more....hopefully. Have my stop at 1.5c and i hope it stays above that till the LM drilling starts.

what are my chances of this or should i get out before it really dumps?


----------



## white_goodman (23 July 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> yeah not a good day, i wasn't near my pc when the bad news came through. Thinking they will drop a little more tomorrow but not too much more....hopefully. Have my stop at 1.5c and i hope it stays above that till the LM drilling starts.
> 
> what are my chances of this or should i get out before it really dumps?




id say jsut stick to your system thats uve got regarding stop loss and dont get emotional about it, but im a beginner so maby dont listen to me


----------



## bhutos (23 July 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> yeah not a good day, i wasn't near my pc when the bad news came through. Thinking they will drop a little more tomorrow but not too much more....hopefully. Have my stop at 1.5c and i hope it stays above that till the LM drilling starts.
> 
> what are my chances of this or should i get out before it really dumps?




Seriously do not follow this advice:

There is essentially no chance of it hitting 1c in the very short term so there is no need to set a stop that low, you're basically going to sell on the low and lock in your losses if it's unlucky enough to bob down in the 1.4-1.5 range temporarily.
I'd consider 1.5 a danger zone for your current stop and remove immediately.
Instead of stopping out, buy a larger than initial amount if it reaches 1.5 (or divide in 2 and average down incase it dips to ~1.2-1.3) and sell in a few weeks at 1.8-2.0 on hype and unabashed ramping about Lake MacLeod and Stoke's Bay.

That said it may never even see below 1.6-1.7 with LM and SB so close and many holders no doubt going to hope for another roll of the dice. The last two dusters have seen a following day or so of falls after the initial crash. It remains to be seen whether this will be the case here.


----------



## Datsun Disguise (23 July 2008)

*Re: EGO - Empire Oil*

I agree Bhutos - I'm interested to see what happens regarding a bottom after this latest duster. After Moriary I think we saw 1.2c (?) or there abouts, but that was without a follow up well to keep people interested. I'd say that a 1.5c stop has a reasonable chance of getting triggered tomorrow - but really don't expect to see it go much below that. We've had a good week so far on the ASX, tomorrow might be a down day which could assist with some downward movement.

 I'm looking for a buy some time this week in preparation for the LM and SB 'ramping' as you put it, or enthusiasm as I think of it. Ideally at 1.3c but probably more like 1.6c.

Of course, as my bottom drawer & list of near misses confirms, I've been wrong before and will be wrong again (probably more than once...)

BESB - Buy Early, Sell Before.


----------



## YOUNG_TRADER (23 July 2008)

*Re: EGO - Empire Oil*

I can't get over the volume this stock does,

Its like every trader in Australia is on it or something, I mean almost 250M traded today, thats a qtr of a billion shares traded!!!!!!!!!!!!!!


Anyway some observations from the sidelines

In July/August 2007 EGO ran from 1c -6c on the back of their 15% interest in Valentine Well which was targeting 200M bls oil + 1.2 TCF Gas =  NET to EGO 30M bls + 180 BCF Gas

Recently EGO ran  from 1.6c - 2.4c on the Back of 20% interest in Star Finch well targeting 25M bls of oil + 50 BCF Gas, net to EGO = 5m bls oil + 10 BCF Gas

In 2 weeks Lake Macleod will spud 30% interest  in 150M bls oil = Net to EGO 45 M bls of oil, even more than the Valentine well and it ran to 6c on the back of that, so really how far will it run this time is the question


It will be interesting to see what traders do with old EGO,

For me BFE is my exposure to Lake Macleod as its not even priced in, let alone the large Iron ore project they have


----------



## YOUNG_TRADER (24 July 2008)

*Re: EGO - Empire Oil*

P&A Star Finch,

Now moving on to Lake Macleod, will take a few weeks to spud, may fall back between now and then, surprised it already hasn't, another 40 odd million shares traded


----------



## leigh_munro (24 July 2008)

*Re: EGO - Empire Oil*

yeah i thought it was going to drop significatly again on confirmation that there was nothing at Star Finch but its held steady at .018 - .019 ......


----------



## mobcat (24 July 2008)

*Re: EGO - Empire Oil*

Yeah YT i even put my toe in the EGO pond today ....suppose if ya cant beat em might as well join em hey .....one thing you can say about EGO she sure is liquid all right massive volume of late ....... just hope it doesnt attract the turd and the blowfly theory because that would make me a blowfly and EGO a turd LOL


----------



## bhutos (24 July 2008)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> I agree Bhutos - I'm interested to see what happens regarding a bottom after this latest duster. After Moriary I think we saw 1.2c (?) or there abouts, but that was without a follow up well to keep people interested. I'd say that a 1.5c stop has a reasonable chance of getting triggered tomorrow - but really don't expect to see it go much below that. We've had a good week so far on the ASX, tomorrow might be a down day which could assist with some downward movement.
> 
> I'm looking for a buy some time this week in preparation for the LM and SB 'ramping' as you put it, or enthusiasm as I think of it. Ideally at 1.3c but probably more like 1.6c.
> 
> ...




I honestly would have expected at least 1.7 today. It was propped up during the morning which would have helped.. but to not drop at all was pretty impressive... we'll see how that holds up with a week or two's wait. I didn't think it would do a repeat of Moriary, but to not budge!


----------



## LRG (24 July 2008)

*Re: EGO - Empire Oil*

I watch the huge volumes of this one, but it does not seem to go anywhere other than in a reasonably tight range.

It has got to be due to either tank or break north surely.  Can't just keep haging around 2c + or -

wonder why?


----------



## Wysiwyg (24 July 2008)

*Re: EGO - Empire Oil*



LRG said:


> I watch the huge volumes of this one, but it does not seem to go anywhere other than in a reasonably tight range.
> 
> It has got to be due to either tank or break north surely.  Can't just keep haging around 2c + or -
> 
> wonder why?




Pulls in some good brokerage fees.Must be a fever still lingering from the last mad rush to nothing.


----------



## ans25 (24 July 2008)

*Re: EGO - Empire Oil*



LRG said:


> I watch the huge volumes of this one, but it does not seem to go anywhere other than in a reasonably tight range.
> 
> It has got to be due to either tank or break north surely.  Can't just keep haging around 2c + or -
> 
> wonder why?




I think the reason why is that any slight increase there is a lot of ppl wanting to take short term profits - similiar to day trading - basically a dump and then re-buy in the high teens again.


----------



## YOUNG_TRADER (28 July 2008)

*Re: EGO - Empire Oil*

Yeah Ans I agree,

The volume is so high because people love to buy this and sell it for a 1 tick profit ie in at 1.8c sell at 1.9c

It doesn't look like it will fall much further given we have had some very weak days on the asx and it has still held 1.7c, so maybe it won't break this support (though it may)

Will be interesting to see how high it runs on the back of Lake Macleod


----------



## bowseruni (31 July 2008)

*Re: EGO - Empire Oil*

i'm surprised that it's still holding up so well considering not much is currently happening. Can't wait for Lm spudding to begin


----------



## alfaracing (31 July 2008)

*Re: EGO - Empire Oil*

Im with you bowser, i bought my first lot of ego today @ 1.8c. maybe i should have waited a bit longer and bought a bit cheaper, but im in. Could anyone explain to me what spudding means, is it simply the start of drilling??
So.. are week or so away from "spudding"?


----------



## YOUNG_TRADER (1 August 2008)

*Re: EGO - Empire Oil*



YOUNG_TRADER said:


> I can't get over the volume this stock does,
> 
> Its like every trader in Australia is on it or something, I mean almost 250M traded today, thats a qtr of a billion shares traded!!!!!!!!!!!!!!
> 
> ...




Well after watching this for over a week now I think it may have actually bottomed around 1.7c/1.8c

So I have jumped in for a few at 1.8c

Just like CFR I think the punters and crazy traders will take this up with their over exuberance anf just like CFR I intend on selling into the strenght when/if it does move up so as to remove my risk and lock in profits

Considering this is the biggest Oil well EGO has ever had you'd expect a bit of interest


High risk spec DYOR


----------



## LRG (7 August 2008)

*Re: EGO - Empire Oil*

YT, after seeing your last post I jumped in too for a few at 1.8c.

I am holding about 7 species now (but not NSL anymore - out at 4c)

Surely 1 or 2 of these must go up in value in the next few weeks instead od DOWN!

Please some of you 7 species go UP!!!


----------



## YOUNG_TRADER (8 August 2008)

*Re: EGO - Empire Oil*

lol

Maybe this will comfort you somewhat, these last few weeks/months have been some of the toughest I and many other brokers, analysts, investment bankers and dealers have seen in 5yrs+

But EGO is a spec trade, so make sure you treat it as such, nothing more nothing less

It has held up very well considering the slaughter we see on the mkts daily


----------



## Trader Paul (8 August 2008)

*Re: EGO - Empire Oil*



Trader Paul said:


> Hi folks,
> 
> EGO ..... figure it will be mostly negative now, until about 11082008,
> when the first positive cycle in the next round should arrive ...
> ...






Hi folks,

EGO ..... positive sentiment should start to return next week, with the
arrival of the first cycle, in the next round of 9 positive time cycles,
between now and mid-November 2008 ... see post above ... 

happy days

 paul



=====


----------



## LRG (14 August 2008)

*Re: EGO - Empire Oil*

Trader Paul

It didn't return?

Your fib no's or elliot wave theory or what ever is ****e.

Please explain - was it the cold snap, the moon, solar flaring?

maybe russia invading geogia, or it could be the olympic factor.

OR, is it really just cause the whole share market, commodity prices and world sentiment is just crap at the momment and wont come good for 6 mths to 7 years!!


----------



## Datsun Disguise (27 August 2008)

*Re: EGO - Empire Oil*



> expected date for mobilisation of DCA rig 7 onto the Lake MacLeod 1 location is expected to be 28th August 2008.



 EGO co announcement 14/8

It's seems EGO is out of favour at the moment, just about to stick the needle in and very little price action to speak of. It's funny how we apply experience, these are different targets, I haven't seen anything to suggest that this is a lower probablility of success than Star Finch but no-ones all that interested this time.

Might be one to stick a rising buy order on the day before hitting expected depth. Still got my falling buy in place for a lucky dip - pretty sure a failure at LM will produce a nasty SP response.....

Let's see!! Good luck to the holders. (not one)


----------



## bowseruni (27 August 2008)

*Re: EGO - Empire Oil*

they owe me 2.5c, if they get to that or better i'm getting out. Too much stressing

there has been some slight movement in the past day or so up to 1.9c but not quiet what i expected. a no oil strike would be really bad


----------



## LRG (3 September 2008)

*Re: EGO - Empire Oil*



LRG said:


> YT, after seeing your last post I jumped in too for a few at 1.8c.
> 
> I am holding about 7 species now (but not NSL anymore - out at 4c)
> 
> ...




Got out ysterday at 1.7 for a slight loss. 

Needed some cash back.

still holding s..t stocks like AOM, CAG, LOD etc that have gone south and no one talks about with enthusiasm anymore!!

one day I may even get back to even if i hang on or maybe loose more!

times are just BAD at the mommennt for the pennies


----------



## Datsun Disguise (10 September 2008)

*Re: EGO - Empire Oil*



LRG said:


> still holding s..t stocks like AOM, CAG, LOD etc that have gone south and no one talks about with enthusiasm anymore!!





Don't get too down about holding stocks that aren't doubling every week or so. Remind yourself why you bought in the first place, check to see if the reasons are still true, if yes hold if no reevaluate.

One general rule that I always keep in mind, SP's are highest when the future looks brightest, and vice versa. Obvious - but if you don't keep that in mind you can end up buying everything based on market hype and sell for a loss when the hype disappears.

Your comment above is a symptom of the market herd mentality. Sometimes it can be better to sit down and wait for them to return than to run with them. 

Not far from finding out the truth about LM and Stokes Bay. I'm keeping a close eye on EGO, good news should be a good opportunity - todays news says that opec are cutting production to match demand, I think they like the 100+ USD a barrel price they've been getting.....


----------



## bowseruni (12 September 2008)

*Re: EGO - Empire Oil*

hopefully find out something soon or start to see a SP rise when spudding starts. 
Out of interest, i just checked my sell trigger and for some reason it had disappeared! so glad bad news didn't come before i noticed this or it could have been really bad.

are you holding these guys datsun?
do you see the current 1.6c as a strong resistance point at the moment or could it drop much lower than the current level before spudding starts?


----------



## Datsun Disguise (14 September 2008)

*Re: EGO - Empire Oil*



bowseruni said:


> are you holding these guys datsun?




No not holding now, but watching very closely. It's been trading b/w 1.7 and 1.8 with support looking like 1.6c, but I've given up applying the rules these days. It does seem to be holding OK around this level, but there is a pretty big moment of truth coming up. It hasn't run up at all given how close we are to LM and I'm not expecting much to happen before we get the definitive wet /dry annoucement either. Seems the market is not happy with ego atm. But I'll wait and watch and look at setting a rising buy the day or so before hitting depth.

The interesting one for me is gingin - scheduled for next year. Have a look into that one - I reckon that's a besb opportunity in what will hopefully be a more favorable market.


----------



## BESBS Player (23 September 2008)

*Re: EGO - Empire Oil*

EGO should be about to announce the spudding of Lake Macleod any day now. _Potential _reserves are estimated conservatively at 30mmbl (150 mmbl if filled to spill). 

To follow this drill, EGO have the following:

Testing at Stokes Bay
Drilling at a smaller Bee-Eater-1 target

Playing this as a BESBS play but watching for any early positive news as a signal to hold a bit longer as the drill bit turns.

I'm in at 1.6c. 
Holding


----------



## Datsun Disguise (23 September 2008)

*Re: EGO - Empire Oil*



> If I did not have an ego I would not be here tonight
> If I did not have an ego I might not think that I was right
> If you did not have an ego you might not care the way you dressed
> If you did not have an ego you'd just be like the rest
> ...




RIP shirl. A visionary, no doubt.

While no-one seems interested in jumping in now, this should move _with a strike_. BESBS, I'm not sure the spud announcement is going to get you more than a few ticks - support for EGO seems to have evaporated... Maybe it is a dirty word....


----------



## BESBS Player (26 September 2008)

*Re: EGO - Empire Oil*

G'day Datsun.

30mmbl targets are not that common around Australia (esp. 150mmbl at the top end).
Greed shall play a part (better odds than a tatts ticket) for the traders. If the market holds in together for a week or so, I suspect that we will see some northward movement in the SP.
Even a few clicks (say 2.5c) is 50% profit!

Time will tell..
EGO has been a wonderful friend to me in past BESBS action.


----------



## Trader Paul (27 September 2008)

*Re: EGO - Empire Oil*



Trader Paul said:


> Posted 16072008:
> 
> Hi folks,
> 
> ...







Hi folks,

EGO ..... as per post above, we will be looking for a lift over the next
couple of days and a strong finish to October 2008, as a couple of
positive time cycles come into play, around each new moon ..... 

Updated EGO chart, attached.

have a great weekend

paul



=====


----------



## bowseruni (27 September 2008)

*Re: EGO - Empire Oil*

Looking at your graph Paul, to me it looks possible we will see 3 cents again which would be great. What are your thoughts?


----------



## BESBS Player (27 September 2008)

*Re: EGO - Empire Oil*

G'day EGOers.

From a non-chart perspective, I reckon 3c+ is a real chance in the next week or two.

It looks like EGO recently hit rock bottom (post Star-Finch) at 1.4c for a brief few hours but 1.5c was the general low price for a day or three. Below I have listed EGO's recent drills, potential reserves on offer and corresponding SP run during drills:

Moriary Drill- 11 mmbl Potential 
1.0c - 2.8c (Difference = 1.8) 

Star Finch- 50BCF or 25 mmbl Potential 
1.3c - 3.2c (Difference = 1.9) 

*Lake MacLeod, with Stokes Bay retesting and Bee-Eater*- 30 mmbl Potential, 200BCF or 10 million mmbl Potential, and then 5mmbl. 
1.5c- current (Difference = ?) 

Clearly Lake MacLeod is a much bigger target than either Moriary or Star Finch so this is a big drawcard. 
The market is still dicey, so that adds a wildcard to the pack, although it was dicey at the time of Star Finch as well.
Stokes Bay and Bee-Eater provide some floor to the share price although the SP will fall significantly if Lake Macleod is a duster.
Even a similar response to Moriary or Star Finch might bring 3 - 3.5c. 
Hoping for take-off very soon. Hold on to ya seats...

Holding EGO,

BESBS PLayer


----------



## BESBS Player (1 October 2008)

*Re: EGO - Empire Oil*

Lake MacLeod has spudded.

From the O&G conference: (thanks to PLM for this)

_"Lake MacLeod is the main prospect in EP 461 / EP 439. It is a large structure where Devonian sediments drape over an older Silurian fault block. Unlike Quobba 1 to the northwest, which was drilled on a Miocene compressional structure, the Lake MacLeod structure has been present since Late Devonian times. Thus, the timing for oil migration from the Gneudna Formation source rocks into the Lake MacLeod prospect is excellent. The Devonian section in Quobba 1 is mostly shale, indicating the likelihood of adequate seal at Lake MacLeod. There were good oil and gas shows throughout the Gneudna Formation in Quobba 1 and in particular a dolomite at 1,170 metres. This dolomite was open hole drill stem tested and flowed some 1,000 barrels of water per day from about 5 metres of porosity. This test indicated that the permeability of this reservoir at Qobba 1 was quite adequate to produce liquids at commercial rates.

The Lake MacLeod prospect (EP 439, EP 461) is a Devonian four-way dip closure draped over a Silurian fault block. The structural timing of this prospect is ideal to trap migrating hydrocarbons from the Gneudna Formation. The prospect is of large areal extent (275 km²) and high relief (150 metres), with the major risk being adequate reservoir development. A thin net pay section of 5 metres, as encountered in Quobba 1, some 20 kilometres to the northwest, would allow a potential recoverable oil resource of the order of 150 million barrels to be contained in this prospect."_

Lake MacLeod: 30million BBL Potential.
Stokes Bay retesting- 200BCF or 10million BBL Potential 
Bee-Eater to follow 

Holding plenty of EGO


----------



## bowseruni (7 October 2008)

*Re: EGO - Empire Oil*

I'm out guys, hit my trigger today taking a 10k loss. Good luck to the people still holding and i hope for your sake they get something this time.

watching from the sideline now


----------



## DavidB1 (7 October 2008)

*Re: EGO - Empire Oil*

hey sorry to hear

pulled my stop today i was not going to take a 20k loss 

 if i just get my money back ill be happy 

what did u sell out at ?


----------



## BESBS Player (14 October 2008)

*Re: EGO - Empire Oil*

Sorry to hear that things have not worked out, Bowser & David.

I'm still in but down a little. I'd like to be able to say that with drilling about to re-commence at LM - and with Stokes Bay & Bee-Eater to follow - that things should look up in the next few days, but no one can say that in this current market. Hopefully the market will remain positive for a week or two and maybe some sentiment will change.

Watching...


----------



## Datsun Disguise (17 October 2008)

*Re: EGO - Empire Oil*

Hi BESBS - was the drilling suspended at LM? I didn't realise that - it would explain why we haven't had any progress reports I suppose. I was getting ready to hear the results, but it sounds like I have to wait a little longer.


----------



## nyo (20 October 2008)

*Re: EGO - Empire Oil*

Looks like EGO is back on track.  Any thoughts? 


ASX ANN.
20 October 2008

The Manager
Australian Securities Exchange Limited
Company Announcements Office
Level 4
20 Bridge Street
SYDNEY NSW 2000

RE:
LAKE MACLEOD, EP439 AND EP461, GASCOYNE SUB BASIN, CARNARVON BASIN, WESTERN AUSTRALIA


*Empire is pleased to announce that operations at Lake MacLeod-1 have recommenced* with the retrieval of stuck pipe and the running and cementing of 9 5/8" (244mm) casing to 155 metres.

The current operation is installing the Braidenhead and installing Blow Out Prevention equipment prior to pressure testing.

The Future Operations is to drill out (244mm) 9 5/8" shoe with 8  ½" hole *and drill ahead to the reservoir objectives.*

The participants in the Lake MacLeod-1 well are:

*Empire Oil & Gas NL (Rough Range Oil Pty Ltd * Operator) * 30.356%*
Longreach Oil Limited * 9.352%
Indigo Oil Pty Ltd * 4.676%
Falcore Pty Ltd * 2.596%
Vigilant Oil Pty Ltd * 0.52%
Jurassica Oil & Gas Plc * 35%
Black Fire Energy Limited * earning 7.5% by Farmin from the J.V.
DVM International Limited * earning 10% by Farmin from the J.V.

Regards

J L CRAIG MARSHALL
Managing Director
EMPIRE OIL & GAS NL


----------



## BESBS Player (22 October 2008)

*Re: EGO - Empire Oil*

G'day Datsun & NYO,

Yes, drilling is finally underway again at Lake MacLeod. Given it is a shallow drill, we could easily be getting results from the first zones of interest early next week.

Also interesting to read the update on Stokes Bay...

As far as predicting the share price movement, we could get a small rally as we approach the end of this week if the traders are keen to get back in before the results start to emerge at LM. Hopefully... Of course, if the market suddenly has another shocker, any run for EGO might be wrecked.
Still, we have seen the share price rise from a low .009c to now around a high1.3c today. Still holding and watching with interest...


----------



## nyo (24 October 2008)

*Re: EGO - Empire Oil*

*ASX Ann says drilling to start tomorrow.
* 

*Mondays ASX ann should be very interesting.* 


24 October 2008

The Manager
Australian Securities Exchange Limited
Company Announcements Office
Level 4
20 Bridge Street
SYDNEY NSW 2000

RE:
LAKE MACLEOD, EP439 AND EP461, GASCOYNE SUB BASIN, CARNARVON
BASIN, WESTERN AUSTRALIA


Please find attached the status of drilling Lake MacLeod-1 as of 24 October 2008.

The current operation is complete pressure testing.

The future operations: Drill out (244mm) 9 5/8" shoe, conduct formation integrity test, *then drill ahead with 8  ½" hole to the reservoir objectives, anticipated Saturday 25 October 2008.*

The participants in the Lake MacLeod-1 well are:

Empire Oil & Gas NL (Rough Range Oil Pty Ltd * Operator) * 30.356%
Longreach Oil Limited * 9.352%
Indigo Oil Pty Ltd * 4.676%
Falcore Pty Ltd * 2.596%
Vigilant Oil Pty Ltd * 0.52%
Jurassica Oil & Gas Plc * 35%
Black Fire Energy Limited * earning 7.5% by Farmin from the J.V.
DVM International Limited * earning 10% by Farmin from the J.V.

Regards
J L CRAIG MARSHALL
Managing Director
EMPIRE OIL & GAS NL


----------



## webclever (31 October 2008)

*Re: EGO - Empire Oil*

The Lake Macleod 1 well located in the onshore Carnarvon Basin has drilled into the Cretaceous Birdrong Sandstone without any indications of hydrocarbons.

Is it to early to assume that Lake Macleod has no oil? Thanks.


----------



## nick2fish (31 October 2008)

*Re: EGO - Empire Oil*

Yes ....Objectives are Primary: Devonian Gnuedna carbonate
Secondary: Silurian Nannyarra Sandstone Should know by Monday though


----------



## bowseruni (31 October 2008)

*Re: EGO - Empire Oil*

what is the worst case scenerio if they don't find oil again? where does everyone think they will drop too?

not holding anymore but hope all goes good for those who are


----------



## BESBS Player (2 November 2008)

*Re: EGO - Empire Oil*

Hi EGOers.

Tomorrow should be an interesting day as we should have a reasonable idea of LM. Still too early to know with any certainty at this stage. Tomorrow will probably tell the story.

There is always a chance for early hc shows in these types of drills. None present for LM...disappointing.

Given the market at present, I have taken 80% off the table mid-last week. If LM is a flop, the SP will dip - Stokes Bay won't hold it although it will recover somewhat as SB becomes more definite IMHO. Carrying a loss on this one but got to protect capital.

If LM is a hit, then profits on remaining 20% will hopefully cover the losses comfortably. If LM is a duster, then an opportunity might exist for this one as a BOBN for Stokes Bay? Hard to know in this market but a chance...

Good luck to all holders. Get the feeling that Bee-Eater might be delayed, so Stokes Bay is the next big hope.

BESBS Player


----------



## mike85 (2 November 2008)

*Re: EGO - Empire Oil*

yer, i am only holding about 50% of what i originally had...
hoping for good news this week to cover my losses...


----------



## BESBS Player (5 November 2008)

*Re: EGO - Empire Oil*

Decided to take another 15% of my original holding off the table (so now 95%exited). Not impressed with Stokes Bay announcement and not convinced that Bee-Eater will be drilled this season. From the latest on LM, the odds seem 1:20 at best, so decided to take a hit and go.

This puts a dent in a good 2008/2009 to date. Did well from CTP x 2 (Blamore & CBM 93001), MOG (Bazzard) and EGO (Star Finch) , then EGO on Lake Macleod has been a dud. 

Looking to get set in a few new BESBS plays. Some longer term, some more medium plays. Although the market will no doubt have some bad days in the near term, I am starting to feel that we have been close to the bottom already. 

Time will tell...


----------



## webclever (6 November 2008)

*Re: EGO - Empire Oil*

I did the opposite, my guts telling me LM got oil.

I accumulate a bit more in the last couple of days at .009, hopefully it pays off.


----------



## Datsun Disguise (6 November 2008)

*Re: EGO - Empire Oil*

Todays drilling report announced they've hit the sands but without any hydrocarbon indications, not a good sign. They do need to drill further in order to get deep enough in the sands to run a wireline log - there may be oil yet, but odds just lengthened in my opinion.

I'm a bit surpised the price hasn't dipped on this news, suppose the logs will be the critical piece of news.


----------



## Family_Guy (7 November 2008)

*Re: EGO - Empire Oil*

Can someone give me one good reason why i should hold EGO any longer?
I have my finger on the red button to jettison and i don't often turf out losses, but this one has just p!$$ed me off.

Just one GOOD reason.


----------



## MaryPoppins (7 November 2008)

*Re: EGO - Empire Oil*

Hi Family Guy,  I am in the same boat wondering which way to go on this one.  I have made some big losses in the past and I am hoping this one isnt going to be another. If I bail I will be over $50K loss on this gem!!
I dont know why call me nuts but I think I might wait for the 1 in a trillion chance they find oil.  I hope I am wrong but I believe they should have had some readings by now.


----------



## Family_Guy (7 November 2008)

*Re: EGO - Empire Oil*

........and here i was spewing i'd turned $1k into $500

Call me crazy, but if i had the money you are talking, i'd be buying top shelf, turning it over in a few ticks and then get out of bed and go play a round of golf......but thats just me.


----------



## MaryPoppins (7 November 2008)

*Re: EGO - Empire Oil*

Any loss is hard to take regardless of the amount.
I did the biggest mistake with this company, I can not explain why I have become emotionally attached (perhaps I should save what I have left and see a professional about my situation).  
I bought into ego back in August 2007 and paid top price around 4.9c.  and since then have kept throwing more and more into it to reduce my buy price.  BIG MISTAKE!!!!!! 
Everytime I tell myself the next drill will be the one. Star Finch to Stokes Bay now Lake MacLeod. I know I am a sucker and will stay in till Gingin.  Lets hope they dont go belly up.

:hammer: ...this is so what I need to wake up.


----------



## DavidB1 (7 November 2008)

*Re: EGO - Empire Oil*

MaryPoppins
i'm down about the same 
i'm holding y sell at .7  
there are 9 drills on the way all pay for !!
ego are not going to go belly up got 6m in the bank


hold if u can


----------



## dandyjac (7 November 2008)

*Re: EGO - Empire Oil*

Hi EGOers
            I am sitting on this one, I am about 7k down I think the way the market is at the moment is having an effect, still got plenty of drills coming up in 2009 Im sure the s/p will pickup


----------



## nick2fish (8 November 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> MaryPoppins
> i'm down about the same
> i'm holding y sell at .7
> there are 9 drills on the way all pay for !!
> ...




Good support David and I agree. Mary if you are down that much it is better to hold on especially with further drilling activity to come.


----------



## DavidB1 (8 November 2008)

*Re: EGO - Empire Oil*

next is Bee-Eater 


Bee-Eater-1 (Empire) – 33.36% 

Empire has estimated recoverable oil reserves in the Bee-Eater structure, which also extends
into the Company’s EP 435 Permit, to contain up to 5 million barrels.


but the one we want Gingin west 
Empire Oil Company (WA) Limited – 62.5%

Following is a brief summary of the discovery gas wells in the EP 389 Permit that flowed gas naturally at
economic rates without the requirement of fracture stimulation.


----------



## MaryPoppins (8 November 2008)

*Re: EGO - Empire Oil*



DavidB1 said:


> MaryPoppins
> i'm down about the same
> i'm holding y sell at .7
> there are 9 drills on the way all pay for !!
> ...





Thanks DavidB & everyone for your support, sorry about my hissy fit, I had a bad week on the market this week, as I am sure many others did too. (Poor ego thread copped it).
I will definately be staying in as long as possible.  I have a good feeling about Gingin, and you never know Lake Macleod might just suprise us this week.  Everything is crossed at my end.  
Hope all ego-ers have a great weekend.
Cheers
Mary Poppins


----------



## webclever (12 November 2008)

*Re: EGO - Empire Oil*

 No Oil at Lake McLeod.
I'm surprise no massive selling today.
What's next for EGO drilling prospect?


----------



## mike85 (12 November 2008)

*Re: EGO - Empire Oil*



webclever said:


> No Oil at Lake McLeod.
> I'm surprise no massive selling today.
> What's next for EGO drilling prospect?




my thoughts exactly! i think i will just hold onto what i have left and see what happens down the track...


----------



## Go Nuke (12 November 2008)

*Re: EGO - Empire Oil*

Yeah Im suprised there was no sell off either.

Oil falling etc.
Isn't the next prospect Honey eater or something like that?

In this climate if I had spec money to play with, i have a buy order at .005 -006.

I reckon this will fall back to its trading range from 2005-06.


----------



## bowseruni (13 November 2008)

*Re: EGO - Empire Oil*

not good news for the guys still holding.

I am happy to take my 8k loss and glad i sold out at 1.6cents.

do i buy any for the upcoming bee eater.......


----------



## BESBS Player (14 November 2008)

*Re: EGO - Empire Oil*

G'day all,

Sorry to hear that some lost big money, some a little and some carrying paper losses on this LM drill. From a personal perspective on EGO, I won on Star Finch but lost some on LM. As this is the one dud I have had this financial year, LM sucked!

I don't think Bee-Eater will be drilled shortly. My gut feeling in the wet season will halt any chance of drilling before 2009 for this target. Remember though, Bee-Eater is a smaller target. 

GinGin is the next big target, and provided that you get an entry into EGO around 0.005-0.007c, I would think that there would be trading opportunities to make some money (based on previous trading patterns earlier on and more recently with Moriary, Star Finch). Knowing EGO, they will raise more cash prior to GinGin (and possibly a director will sell a few in the SP run before drilling!) hece the need for a low entry point. Some traders will have been burnt on LM, so they may be a little shy with EGO next time. Again, a reason for a low entry point as an extra insurance.

All that said, don't despair. EGO do have other drillings coming up in 2009, they have some cash...hang in there.

Cheers,
BESBS Player

PS. Not holding but will return.


----------



## BESBS Player (18 November 2008)

*Re: EGO - Empire Oil*

Thought that this might be of interest for EGO followers:

_Empire Oil and Gas, which is one of the largest acreage holders in the Perth basin, has near-term potential to add to the state’s gas supplies at Gingin West in EP 389, which has estimated potential recoverable reserves of about 200Bcf.

Managing director Craig Marshall says the company plans to drill Gingin West early in 2009, based on encouraging results from a 45 square kilometre 3D seismic survey in the first quarter of this year.

He said the survey showed Gingin West to be a broad anticline intersected by Bootine-1 in 1981, which flowed gas at rate of 2.25 million cubic feet per day.

“Gingin is not a tight gas prospect. Three wells have flowed gas to the surface, despite being drilled with very basic mud systems that were not suitable for the formations being drilled. Reservoir engineering and well completion methods have come a long way since then and we think Gingin West is a very encouraging prospect.”_

http://www.latentpet.com/_content/documents/540.pdf

For those interested in similar plays, the Warro Gas project with TSV has some similarities.

Holding TSV; not holding EGO


----------



## furiouswilly (21 November 2008)

*Re: EGO - Empire Oil*

any thought on EGO now? will they belly up? i lost of $$ already. the shares is keep dropping!!!


----------



## dandyjac (21 November 2008)

*Re: EGO - Empire Oil*



furiouswilly said:


> any thought on EGO now? will they belly up? i lost of $$ already. the shares is keep dropping!!!




Hang in there they have Gin Gin coming up in 1st quarter of 09 which is another good possibility for good gas reserves if they are correct. They are still deciding what to do with stokes bay as they tried to clear the well using nitrogen but it was unsuccessful. The company has alot of farm in partners which helps with financing the drills so I believe they are sitting ok


----------



## BESBS Player (29 November 2008)

*Re: EGO - Empire Oil*

Furiouswilly,

I agree with Dandyjac (although I don't hold at the moment). Gingin is coming up in H1 2009 and is a promising target located near a gas-hungry market. Farm-ins should keep EGO afloat...


----------



## BESBS Player (13 January 2009)

*Re: EGO - Empire Oil*

EGO look like they are already on the move, Danyjac. Punters getting ready for Gingin I suspect. SP has now risen from 0.005 to 0.008c. Doesn't sound much but a 60% rise is not to be sneezed at.


----------



## dandyjac (13 January 2009)

*Re: EGO - Empire Oil*

Does Anybody know when they are starting to drill Gingin. Lets all hope they hit the big one for all the EGO holders


----------



## furiouswilly (22 January 2009)

*Re: EGO - Empire Oil*

i hope they will hit one soon, been waiting for ages.. lol, anyone have update news? back to 0.006


----------



## nevieboy (27 March 2009)

*Re: EGO - Empire Oil*

I'm very surprised about the good news EGO had yesterday that nobody bothered posting about it. 
Yesterday it went up 28.57%.
As we speak its up 22.22%.
Is it because we have all been burnt on the EGO rollercoaster ride in this last 12 months?


----------



## Datsun Disguise (13 May 2009)

*Re: EGO - Empire Oil*

Time to re-visit an old friend. EGO is a great one to trade - although carefully! Bought my parcel today for the Gingin prospect to be drilled in the second half. The latest qtrly and the poorly titled "EP 389 Gingin and Gingin Prospects and Planned Drilling 2009" - doesn't provide any detail on when this will happen but within the half. But i do not wnat to get caught out if they do announce a 3rd qtr drill program (just around the corner). For those who haven't checked out the gingin prospect have a look. The qtrly report gives some good background. In a nutshell it's 80km from Perth virtually on top of an existing pipeline, it's flowed commercial qty's of gas in the past.

Just wish I'd acted a couple of months ago - 1/2 a cent would have been nice!! Anyway 1c will prvide me with a good opportunity to turn it into a 'free carry' once the spud approaches.

Can anyone give a brief summary on the rest of the prospects? It's been a while and I'm feeling a bit lazy....


----------



## philly (30 June 2009)

*Re: EGO - Empire Oil*

Does anyone know when will the drill bit will start spinning? 1st H of 2009 has  gone and no action yet not even an expected date of commencement. They chose to drill onshore Perth Basin because low risk and good chance of success and close to potential market....sounds straightforward enough but no ASX news since release of Q report in April. Anyone have any news? The silence is deafening. I am a holder and just want them TO DO SOMETHING and I guess other holders share the same view. Can anyone help?


----------



## philly (1 July 2009)

*Re: EGO - Empire Oil*

Well someone out there heard my plea. EGO announced to the ASX today that it planned to drill the Gingin West - 1 well in Q3 2009. That's now !! I am a happy holder.


----------



## voyz (1 July 2009)

*Re: EGO - Empire Oil*

lol i hold too but the sp didnt move due to the announcement. been holding from when it was tripple its price....


----------



## dandyjac (1 July 2009)

*Re: EGO - Empire Oil*

With Gingin drill coming up in 3rd Quarter 2009 should spark some interest & push up the share price


----------



## BESBS Player (1 July 2009)

*Re: EGO - Empire Oil*

Agree, Dandy.

Not holding EGO at present but it should rise as drilling approaches. In this market, the SP runs before spudding are a little bit closer to spud date than in the past...just a more cautious market.


----------



## Datsun Disguise (30 July 2009)

*Re: EGO - Empire Oil*

Someone got frisky on close today - 29m traded for the day - most in the last 10 minutes of trading. News coming?

Hope so, looking for a nice run up to spudding gingin - haven't decided if I will hold throgh to results or convert to a smaller free carry holding. Decisions, decisions. Any other thoughts on strategies for milking ego?


----------



## dandyjac (30 July 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Someone got frisky on close today - 29m traded for the day - most in the last 10 minutes of trading. News coming?
> 
> Hope so, looking for a nice run up to spudding gingin - haven't decided if I will hold throgh to results or convert to a smaller free carry holding. Decisions, decisions. Any other thoughts on strategies for milking ego?





Wish I could give you some trading advice but I have been holding onto these guys for ages and I seem to hang on way to long. Then they hit a duster and the Ars* falls out of the S/P and I decide to hang on to the next drill & the next drill and so on, lets just hope they hit a lot of gas on the Gingin drill and that will help solve the dilema of when to sell


----------



## Datsun Disguise (31 July 2009)

*Re: EGO - Empire Oil*

The volume continues to flow for EGO. Last look the offers had moved up to 1.2c Not a great deal of sell volume in the list.

Waiitng for the news of a drill program - shouldn't be too far away.


----------



## Datsun Disguise (20 August 2009)

*Re: EGO - Empire Oil*

I'll continue my commentary.....

71m shares traded today after a fairly quiet period - leaking news perhaps. We are due for some news regarding drilling, might be getting close to the last opportunity to take a position before spud - took mine a while ago, not as long ago as I'd like mind you....

It's been as high as 1.4c, I'm looking for 1.8c to convert to free carry and I'll hold through to results. Thats the plan stan.

Seems to me ego has fallen out of favour with you bunch of savages due to past failures, but this one is a lot less spec than previous campaigns, gas has flowed from gingin before and there's a gas pipe running right past the prospect meaning no problems in getting the gas to market. Don't be shy peeps, don't be shy. Or maybe no-one wants to own up to holding this time?


----------



## Sweet Synergy (20 August 2009)

*Re: EGO - Empire Oil*

The .012 resistance level held for 5 months but has broken nicely today on large bullish volume.
.....................................................................................


----------



## philly (20 August 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> I'll continue my commentary.....
> 
> 71m shares traded today after a fairly quiet period - leaking news perhaps. We are due for some news regarding drilling, might be getting close to the last opportunity to take a position before spud - took mine a while ago, not as long ago as I'd like mind you....
> 
> ...




OK I'll confess I'm a holder, have been for a while, and I'm happy ATM. Whilst there are no guarantees when drilling IMHO Gingin looks very promising. I agree with DD that this is a lot less spec than previous attempts and the infrastructure is in place in the event of a discovery. These are positive factors. EGO announced that spudding would occurr this Q so with 41 days left hopefully we are in for some good news soon.


----------



## DAZT49 (21 August 2009)

*Re: EGO - Empire Oil*

I am another LT sucker.
Bought in at 2.2c a few years ago, a couple of dusters (lake McCleod Stokes bay etc) and the SP hasnt been anywhere near my entry since.
Agree Gingin looks a more attractive proposition.
The Warro Gas field is not far away, with proven reserves.
I hold TSV shares and there first well has found plenty of gas...but also plenty of water.


----------



## Datsun Disguise (24 August 2009)

*Re: EGO - Empire Oil*

More significant volume today and a strong close at 1.4c - we must be getting very close to an announcement of a spud date now. The latest quarterly said;



> Empire is negotiating with drilling contractor Weatherford Drilling International and their Drilling Rig 826 to settle acceptable costs and day rates to drill the Gingin West-1 well in September/October 2009 with the option to drill a second well from the same Gingin West-1 location that will test both structures being Gingin West Block B and then Gingin West Block A.




An these comments regarding the level of confidence...



> The potential for a development at Gingin West of up to 91.7 BCF of recoverable gas and 1.1 million barrels of associated condensate *is considered an attractive and largely de-risked drilling programme* over the Gingin West structures that have been delineated by both 2D Seismic and the recent recording of the Gingin West 3D Seismic Survey. The reservoir objectives at Gingin West are those that have been gas productive in the Gingin-1, Gingin-2 and Bootine-1 gas discovery wells.




No drilling program is risk free, but this is a pretty confident statement, they'd want to be right!


----------



## tinkus (1 September 2009)

*Re: EGO - Empire Oil*

nice anno looks like some action in Oct 09 as a swap from one to another has been made, looks like a lot will be on for the next few months - time to get in


----------



## Datsun Disguise (2 October 2009)

*Re: EGO - Empire Oil*

Gingin has been brought forward to end of 2009 - great news as no doubt the stock price will build towards spud. Given the much lower risk than previous targets I reckon we should see some decent movement in the lead up. Seems that it was originally moved out to 2010 as they didn't have all of the permits approved - strange I don't recall that being disclosed...... But all approvals have been received so they are jumping back in - speaks volumes for their thoughts on Gingin,

Here's hoping it's a company maker...


----------



## nunthewiser (2 October 2009)

*Re: EGO - Empire Oil*

lol nice 708 notice ................. issued at .007 .oppies attached ....... 

i hold a cupl at 1.......but merely as a penny dreadful punt on a previous vol spike 

same as LKO .just a slush fund in my view , but hey slush funds can make a buck also


----------



## Datsun Disguise (6 October 2009)

*Re: EGO - Empire Oil*

They aren't hanging around! Good news we should have a result in December for Gingin - this is what EGO needs - you can't make a living being an explorer, need to get something out of the ground to make some money. The below quote is already known to the market, but in my view is being ignored. Wonder what will make people take notice? Maybe gas flowing?

Should be a good $ to be made running up to spud, good luck to holders (and non-holders for crying out loud get on board!!) 



> The potential for a gas development at Gingin West of up to 91.7 BCF of recoverable gas and 1.1 million barrels of
> associated condensate is considered an attractive and largely de-risked drilling programme over the Gingin West
> structures that have been delineated by both 2D Seismic and the recent recording of the Gingin West 3D Seismic
> Survey. The reservoir objectives at Gingin West are those that have been gas productive in the Gingin-1, Gingin-
> ...


----------



## Albi (6 October 2009)

*Re: EGO - Empire Oil*

Hi,
I have been   holding it  a little and hope it will gain soon.  I didnot sell it on .013. Trying to buy more but quiet uncertain about results but very optimistic about it's future.


----------



## Datsun Disguise (6 November 2009)

*Re: EGO - Empire Oil*

With Spud of the gingin prospect just around the corner I'm quite surprised about the lack of action on EGO. This is the best prospect that they've drilled for years now, previous drilling programs have seen the price lift from around1.5c (which was the old floor) up to low 3's. We seem well and truly stuck at 1c at the moment. I was looking for a pre- spud price of about 1.6 - 1.8c (which I thought was a conservative estimate) but now I'm wondering if we'll see any movement at all.

Perhaps ego needs to get some runs on the board before they attract any investors to the brand....


----------



## Datsun Disguise (12 November 2009)

*Re: EGO - Empire Oil*

I know that no-one cares but I have to try to keep my average posting above 0.3/day so I can compete in the monthly stock tipping. While I would never post just for the sake of it I have noticed somethng regarding price / volume for ego today that gives me enough of an excuse to post something.

As at 1.42PM:
Volume just under 70million
Bidding 1.2c
Offering 1.3c
Last 1.2c
High of 1.3c

Been bouncing between 1 & 1.1c for what seems like an eternity.

Are we finally waking up that we are about to stick the needle into a big bubble of gas??


----------



## Datsun Disguise (13 November 2009)

*Re: EGO - Empire Oil*

I expected a pull back today but it turns out there was enough buyers willing to soak up the sellers at 1.3c to prevent that. Good result, better results should come when the short term money has been taken off the table.


----------



## MOSSuMS (14 November 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> They aren't hanging around! Good news we should have a result in December for Gingin - this is what EGO needs - you can't make a living being an explorer, need to get something out of the ground to make some money. The below quote is already known to the market, but in my view is being ignored. Wonder what will make people take notice? Maybe gas flowing?
> 
> Should be a good $ to be made running up to spud, good luck to holders (and non-holders for crying out loud get on board!!)




What's the history of those other 'naturally flowing economic wells'? Who operated them for how long, and are they now dry? I like the EGO concept for Gingin West, but need to find much more info before taking a stake...


----------



## Datsun Disguise (16 November 2009)

*Re: EGO - Empire Oil*

Someone to talk to! How exciting!

If you look back through announcements and even do a bit of googling you should be able to satisfy your misgivings. 

The deetailed 3D seismic showed that Bootine-1 had been drilled very close to the spill point of the reservoir, EGO are targeting the crestal posiotion, so no it ain't empty. 

Here's some research for you to start with.



> Gingin West is the prospect located updip from Bootine-1 that flowed gas at a stabilised rate of 2.25 million cubic feet of gas per day *from one sand*. It is interpreted that Bootine-1 was drilled *at or near the spill point* of the structure. The 3D Survey is designed to define the crestal position of the structure to *intersect all 5 of the Cattamarra Coal Measures sands* with structural closure.



My bolding.



> Gingin-1 - put on production in 1972 and 1975 produced 1.72 BCF flowing at an average of 5 million cubic feet of gas per day before the well was shut in and plugged and abandoned upon focusing on the Dongara Gasfield discovery.






> - Gingin-2 drilled in 1965 and put on production test. Recent evaluation indicates progressive formation damage probably due to the use of diesel based mud system.




I like Gingin and have gone heavy on EGO for this program - disappointed with the run up so far, expected more given the quality of the prospect. but still sitting on 40% gain so far.


----------



## Putty7 (16 November 2009)

*Re: EGO - Empire Oil*

Have followed these for a few years, bought some this morning at .013c, maybe when they spud they will see a bit more run Datsun, who knows, they are looking at some impressive targets and success would see them move from explorer to producer, the idea of drilling a daughter hole off the parent hole into the second target is cost saving and their location selection looks very good with regards to their chances of success.


----------



## Putty7 (19 November 2009)

*Re: EGO - Empire Oil*



> Empire Oil and Gas NL and the EP389 Joint Venture is pleased to announce that the commencement of drilling operations occurred at 1330 hours on 18th November 2009.
> 
> Empire Oil Company (WA) Limited, a wholly-owned subsidiary of Empire Oil & Gas N.L., the Operator of the EP389 Permit, has contracted Weatherford Drilling International and its Rig 826 to drill the gas prospective Gingin
> West-1 well to 3,850 metres with the election to drill ahead to the deeper tilted fault block play to 4,000 metres to test the Lower Cattamarra Sands prospective for both oil and gas.
> ...




Well spud announcement today, 73 million shares gone through at time of writing, SP between .013c and .014c, large drill target, should finish roughly around the 22nd December, maybe longer or shorter depending on results and what testing if any is needed.


----------



## Datsun Disguise (19 November 2009)

*Re: EGO - Empire Oil*

Some good, if not unexpected news, but at least now we can watch the drilling reports as they push that needle down to the gas / condensate zones. Should see some choppy appreciation  over the next 35 days. Biggest decision will be to sell before or go for broke!

Good luck to the believers - both of us putty!


----------



## DAZT49 (20 November 2009)

*Re: EGO - Empire Oil*

Glad we have some action at last.
Lets hope for a better outcome than from the previous 1/2 doz wells.
Might be a merry xmas after all lol ho ho ho


----------



## Datsun Disguise (25 November 2009)

*Re: EGO - Empire Oil*

The market depth is shaping up nicely - buy volume outnumbering sell by almost 2 to 1. Not a lot of shares available below 2c.

With the drilling now well under way and a slowly appreciating sp EGO should start to attract the attention it deserves.


----------



## dandyjac (25 November 2009)

*Re: EGO - Empire Oil*

Lets hope Ego gets a little fire under the share price, Have been holding for almost 2 years, good to see they have been getting back ground gas from there report under hydocarbon indication. Lets hope they hit a **** load of gas


----------



## Putty7 (26 November 2009)

*Re: EGO - Empire Oil*

The directors appear to be having fun cashing in their .008c options, thankfully they have run out of those by the looks, 40 million were issued on the 18 Nov at 008c, another 96 million to be issued on the 27th Nov at .008c, share dumps have followed the announcements so whether traders don't like the news or directors are dumping some of their existing shares who knows. 

Directors options left ......

2,000,000  @ .01c
10,500,000 @ .015c 
37,500,000 @ .025c
37,500,000 @ .03c

Oh and some are for the employees, how silly of me to forget that lol

A wise Nun once said they were nothing but a slush fund but slush funds can make money to, not deramping as I do hold a packet of these, just the timing of these things seems to align quite nicely, made good money off LKO and they carry on the same way.

Lets hope the SP can now carry on it's merry way again building up to a drill result now that 90 million shares have been dropped today


----------



## Datsun Disguise (30 November 2009)

*Re: EGO - Empire Oil*

The latest drilling update is sounding promising - appraching 2000 meters, with 1000 left to go;



> *13. Hydrocarbon Indications*;
> 
> Background gas increasing with depth in the Yarragadee Fm.
> Objectives are in the deeper Cattamarra Coal Measures.




Now hopefully the scalpers have all been and gone (and stay away) and we can see some good gaps in the proce action - up would be preferable!


----------



## Putty7 (30 November 2009)

*Re: EGO - Empire Oil*

Like a kid waiting for christmas isn't it lol, another 7-9 days and we won't be far from the paydirt starting to hit the bit, good sign with the background gas increasing with depth, agree Datsun it should start building again now, probably more so late next week as we get closer to the target area.


----------



## Datsun Disguise (30 November 2009)

*Re: EGO - Empire Oil*



Putty7 said:


> Like a kid waiting for christmas isn't it lol,




ha ha1 You are right, but there's an added edge to it of not being sure if he's going to give you that new scalextric set (the bathurst version) or steal your favourite tarnsformer!!!


----------



## Putty7 (3 December 2009)

*Re: EGO - Empire Oil*



> *EMPIRE ACQUIRES ADDITIONAL EQUITY IN EP 389*
> 
> Empire Oil & Gas N.L. is pleased to advise that its wholly-owned subsidiary, Empire Oil Company (WA) Limited (“Empire”), has been successful in negotiating a further 15% equity in its EP 389 Permit and the Gingin West-1 petroleum exploration well. The acquisition of the additional 15% equity is a ground floor cost paying 15% of the Gingin West-1 well costs for this additional 15% equity.
> 
> ...




Empire have gained 15% from Wharf Resources in the block where they are currently drilling, if it isn't a duster then it's a great potential income boost, had a gas spike in the drill announcement this morning as they went through some of the lesser coal layers that are above the target area. Another hole may follow this one aimed at a bigger target.


----------



## Datsun Disguise (3 December 2009)

*Re: EGO - Empire Oil*

Looking at the drilling reports it looks very much like we will be hitting the pay zone at some time over the weekend - looks like tomorrow may be the last opportunity to get in on what looks like a no brainer when you consider the previous activity and the reports to date (as per Putty's post above)

This is looking very much like a BESAR play for me now....


----------



## Putty7 (3 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Looking at the drilling reports it looks very much like we will be hitting the pay zone at some time over the weekend - looks like tomorrow may be the last opportunity to get in on what looks like a no brainer when you consider the previous activity and the reports to date (as per Putty's post above)
> 
> This is looking very much like a BESAR play for me now....




SP is starting to build again today Datsun so thats something, won't get over excited just yet as we have seen that before. I'm thinking the same, ride the first hole out, if it fails the second hole is there to fall back on, I can only assume they will drill the second regardless while they have the rig on site and set up, either way the wait will be over next week, whether it is the outcome we are all looking for is a question only the drill rods can decide now.

I think they have enough cash to do both without doing a cap raising, but unsure, some of etrades data on these little minnows isn't as good as it could be, maybe you could shed some light on that Datsun.


----------



## Datsun Disguise (3 December 2009)

*Re: EGO - Empire Oil*



Putty7 said:


> I think they have enough cash to do both without doing a cap raising, but unsure, some of etrades data on these little minnows isn't as good as it could be, maybe you could shed some light on that Datsun.




Plenty lying around - by the end of the qtr after completing Gingin they will have $6m and some change at the bank - they've got next to no liabilities (just over $100k).

I think tomorrow will be a good day - but choppy. Monday I'll either be down the pub celebrating or down the pub drowning my sorrows - so win / win. But I have to say that the odds are that it will be the Moet and not the draught that goes down the hatch at midday (or there abouts)


----------



## dandyjac (3 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Plenty lying around - by the end of the qtr after completing Gingin they will have $6m and some change at the bank - they've got next to no liabilities (just over $100k).
> 
> I think tomorrow will be a good day - but choppy. Monday I'll either be down the pub celebrating or down the pub drowning my sorrows - so win / win. But I have to say that the odds are that it will be the Moet and not the draught that goes down the hatch at midday (or there abouts)




I hope you are right I have been holding EGO for over 2 years waiting for it to go off and I feel the time is near (Lets Hope)

Ps: I prefer down the Pub *Celebrating*


----------



## Putty7 (4 December 2009)

*Re: EGO - Empire Oil*



dandyjac said:


> I hope you are right I have been holding EGO for over 2 years waiting for it to go off and I feel the time is near (Lets Hope)
> 
> Ps: I prefer down the Pub *Celebrating*






Datsun Disguise said:


> Plenty lying around - by the end of the qtr after completing Gingin they will have $6m and some change at the bank - they've got next to no liabilities (just over $100k).
> 
> I think tomorrow will be a good day - but choppy. Monday I'll either be down the pub celebrating or down the pub drowning my sorrows - so win / win. But I have to say that the odds are that it will be the Moet and not the draught that goes down the hatch at midday (or there abouts)





Think there are a few around still holding EGO after the 6c spike a few years ago Dandyjac.

Thanks Datsun, yes up a bit on open to .016c, not a convincing volume but it's early in the day yet, if they have enough cash to drill both holes that is a bonus, nothing worse than a cap raising putting a dampener on a rising SP aka LKO, would prefer to be inhaling in champers over crying into a beer next week but time will tell lol


----------



## Datsun Disguise (4 December 2009)

*Re: EGO - Empire Oil*

Well boys and girls, volume building nicely and price going in the right direction. The scene is set for a good afternoon - maybe I'll start popping corks this afternoon instead!

If we get a result I'm now trying to estimate what price we might see - I'm not talking about what the discovery is worth as i've alwasy had trouble valuing gas for some reason. But you'd have to think the 4-5 c range would be possible. That would value the company between 120 and 150 million, still pretty conservative given that becoming a producer will assure the future of the company - given the prospects of the company (there's a lot!) we may even see a price approaching 10c plus once production gets underway.

Thanks to the foray into the 1.7c range I'm happy to say that I am now free carried (virtually) for the results. Now to throw some cash at CTP...


----------



## dandyjac (4 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Well boys and girls, volume building nicely and price going in the right direction. The scene is set for a good afternoon - maybe I'll start popping corks this afternoon instead!
> 
> If we get a result I'm now trying to estimate what price we might see - I'm not talking about what the discovery is worth as i've alwasy had trouble valuing gas for some reason. But you'd have to think the 4-5 c range would be possible. That would value the company between 120 and 150 million, still pretty conservative given that becoming a producer will assure the future of the company - given the prospects of the company (there's a lot!) we may even see a price approaching 10c plus once production gets underway.
> 
> Thanks to the foray into the 1.7c range I'm happy to say that I am now free carried (virtually) for the results. Now to throw some cash at CTP...






Looks like the share price took a back seat with a flood of 250 000 000 options exercised, I hope the buyers are able to mop them up, I hope it will not knock the wind out of the share price to long  

Refer to ASX announcements
for EGO December 2009 placement Report


----------



## Datsun Disguise (5 December 2009)

*Re: EGO - Empire Oil*

It wasn't exercise of options it was an old fashioned cap raising, which is very strange as they have more than enough cash to cover drill / test of gingin. It wouldn't surprise me if this placement ended up in the hands of directors or connections of.....

Seems like dodgy business to me - they were placed on the 30th of November when the price was already sitting around 1.3 - 1.4c. represents a discount of 30 to 35% on the day - 1.3 was about the mid point over the previous 3 weeks. To boot they also get free attaching options exercisable at 1c - that is a pretty sweet (perhaps sweetheart) deal.

Might have to call and ask why are the board giving away equity in our company given that there was no immediate need for cash......


----------



## Putty7 (5 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> It wasn't exercise of options it was an old fashioned cap raising, which is very strange as they have more than enough cash to cover drill / test of gingin. It wouldn't surprise me if this placement ended up in the hands of directors or connections of.....
> 
> Seems like dodgy business to me - they were placed on the 30th of November when the price was already sitting around 1.3 - 1.4c. represents a discount of 30 to 35% on the day - 1.3 was about the mid point over the previous 3 weeks. To boot they also get free attaching options exercisable at 1c - that is a pretty sweet (perhaps sweetheart) deal.
> 
> Might have to call and ask why are the board giving away equity in our company given that there was no immediate need for cash......




Was a bit stunned by the announcement, especially at the mates rates discount on an already rising SP when they appear to be cashed up, 3rd time they have released shares into the market when buyers are dominating the days trading, doesn't the ASX have to keep an eye on this sort of thing ??


----------



## Datsun Disguise (7 December 2009)

*Re: EGO - Empire Oil*

Hey Putty, you didn't head out to EP389 over the weekend did you? It's in your neighbourhood isn't it? 

Giving myself RSI hitting the refresh button waiting for news.....


----------



## Putty7 (7 December 2009)

*Re: EGO - Empire Oil*

no Datsun, I have a few mates holding these as well, we talked about ringing up and going to have a look but never got around to it, if I ring them up at the moment will be looking for answers not booking sight seeing trips lol. I am holding MHL as well so my refresh button getting a double work out.


----------



## Putty7 (7 December 2009)

*Re: EGO - Empire Oil*

Drilled through the first target sand belt with hydrocarbon shows (see ASX announcement), is the upper layer and smaller of the sand belts to be drilled through, SP well held this morning at .016c by sellers, dropped to .015c after announcement again by sellers, hard to see any real upward movement until they bugger off the rest off the 225 million shares from the cap raising, whoever they went to (would be nice to know) must be making a killing, still another 225 million options on top off that to be released into the market. 

The fat cats look likely to lick all the cream off before the traders get a look in


----------



## travwj (8 December 2009)

*Re: EGO - Empire Oil*

Whats going on with EGO. The SP has dropped in the last two days with out any negative information. So far this morning almost 50mil shares traded and down 7%...

does anyone have any reason why? unless the results arn't to flash?

Trav.


----------



## Datsun Disguise (8 December 2009)

*Re: EGO - Empire Oil*

This drilling program has been very disappointing from an sp point of view. The price has been kept suppressed by big dumps which has kept people nervous - why would you buy in when you can see that elephant traders are taking out whole price points (pushing prices down)  which then spooks everyone?

I reckon they must have gotten into the B sands by now and they will have a reaosnable idea of if they have something or not (prior to testing). This morning's sp collapse could be the result of leaking news, or just people getting out because they haven't been able to cover their risk (ie still too close to their entry, take a small gain or loss in order to avoid the risk of a sp dump)

I'm uncertain as to whether a good find will do much to the sp anyway, I have the luxury of being free carried so I can wait for the actual results, but still, for me I think EGO has been killed..... or maybe it has just become a dirty word.


----------



## Putty7 (8 December 2009)

*Re: EGO - Empire Oil*

I sold out yesterday Datsun, after watching the SP climbing on buying strength Friday only to be unceremoniously belted down near day end, it certainly is a disappointing outcome to be where it is at the moment, if they bash the SP down to .011c I might have another look. The buyers are still there, they are just getting inundated with supply, until that stops no upward SP movement. A good drill result might clean them up quicker maybe.


----------



## travwj (8 December 2009)

*Re: EGO - Empire Oil*

Todays announcment is out, and i don't know anything about gas reserves, but the announcement has a positive side to it. I mean they have reached the target zone, with still a bit more to drill. Would anyone beable to put the announcment into laymens terms.

Cheers

Trav


----------



## Datsun Disguise (8 December 2009)

*Re: EGO - Empire Oil*

Trav - the good news so far is that there is gas there, the better news is that they have confirmed that the A Sands are in fact 'up dip' from the original Bootine production well. As oil and gas migrate upwards until they reach an enclosure (just rocks they can't get through) this means they have tapped the reservoir at a point were they can get to more of the gas / condensate than would have been available at the Bootine site. The results of the A Sands where better than those that were encountered at the Bootine well so again another very positive sign. I'm not a gas expert either so I might be missing something - if I am hopefully another ASFer can help?

I've been thinking on this weird sp performance given the positive news so far and I've got a theory.

If I was the broker who had just laid down 2.5 million of my clients money on a speculative play like EGO I'd be working very hard to ensure that I removed as much risk from it as I could. This would mean taking profit now to reduce the overall cost of the remaining shares.  eg sell half at a 30% profit (ie 1.3c) and that would leave me with a 0.7c entry. The question is just how low an entry price do they want OR are they happy with 30% profit and will unload as much as possible prior to the results?

All star gazing, but this sp action just does not make sense!!!


----------



## Datsun Disguise (8 December 2009)

*Re: EGO - Empire Oil*



Putty7 said:


> I sold out yesterday




Don't blame you, hope you picked up some dollars - not as many as hoped for but dollars none the less.

I'm still holding my free ones..... and watching them reduce in value.... but 1.3 seems fairly solid - for now.


----------



## philly (8 December 2009)

*Re: EGO - Empire Oil*

I don't get it with all this positive news about and the SP is retreating! It may as well pack up the drill bit and go back to the Canning Basin and do nothing that way it would save the cost of drilling and the SP would be the same. Is EGO such a dog that no one wants to touch it and the market just ignores it or is there something more sinister happening out there? I'm a long term holder and know that with EGO patience is indeed a virtue but this time it seems to be on the money with this well. Wots going on?


----------



## daki (9 December 2009)

*Re: EGO - Empire Oil*

i think it's just the market atm moment, BUL had great news as well and the market hasn't responded well to it as well, so I'd say patients


----------



## Putty7 (9 December 2009)

*Re: EGO - Empire Oil*

Bought back in today at .013c again, the price appears to be stable at that for the moment, the first 225 million from the cap raising at .009c would have to be close to gone after the volume of the last 3 trading days, hopefully the options wont come into play for a while and we have a good announcement today.


----------



## Datsun Disguise (9 December 2009)

*Re: EGO - Empire Oil*

1.3c continues to be the golden number 55m traded at the price today, accounting for 96% of trade.

With the volumes traded this has to be either an elephant trader dropping a huge parcel (and doing it patiently) or a thoroughly confused market that half thinks EGO is a goer and half thinks it's got nowhere left to run....

If it's a confused market then hopefully tomorrow will provide some clarity and if it's an elephant, for crying out loud give the rest of us a break!!!!


----------



## dandyjac (9 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> 1.3c continues to be the golden number 55m traded at the price today, accounting for 96% of trade.
> 
> With the volumes traded this has to be either an elephant trader dropping a huge parcel (and doing it patiently) or a thoroughly confused market that half thinks EGO is a goer and half thinks it's got nowhere left to run....
> 
> If it's a confused market then hopefully tomorrow will provide some clarity and if it's an elephant, for crying out loud give the rest of us a break!!!!




You say you are confused   I'm confused, here you have a company drilling for gas getting positive results daily on there reports yet it's supressed in s/p. I know there has been a sh-t load of options hit the market which you would think would have been absorbed by know, let's hope they have a bit more positive info tomorrow which may put a rocket under the s/p


----------



## Datsun Disguise (9 December 2009)

*Re: EGO - Empire Oil*

I reckon if we get a result then surely the selling pressure will disappear and then surely we'll see it take off, I've been watching it closely and I reckon it has been some stock broking graduate's job to sit and sell into the demand. With such positive indications increasing with depth your average investor wouldn't be creating this much sell pressure, surely.

time will tell, the good thing is not too much time is required!


----------



## dandyjac (9 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> I reckon if we get a result then surely the selling pressure will disappear and then surely we'll see it take off, I've been watching it closely and I reckon it has been some stock broking graduate's job to sit and sell into the demand. With such positive indications increasing with depth your average investor wouldn't be creating this much sell pressure, surely.
> 
> time will tell, the good thing is not too much time is required!




Hi Datsun : Do you think they will have some result tomorrow or do you think it maybe friday based on there current depth


----------



## Datsun Disguise (9 December 2009)

*Re: EGO - Empire Oil*

They are very close, but it depends on how long the blow out gear testing takes - short answer is I don't know. I'll be watching carefully though and have a stop in place in case i miss the news and it's bad (however unlikely that seems at the moment).

good luck all, this one sure has sucked to hold, hopefully we'll be rewarded for it...


----------



## dandyjac (10 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> They are very close, but it depends on how long the blow out gear testing takes - short answer is I don't know. I'll be watching carefully though and have a stop in place in case i miss the news and it's bad (however unlikely that seems at the moment).
> 
> good luck all, this one sure has sucked to hold, hopefully we'll be rewarded for it...



Hey datsun some big orders went in between 12.23 - 12.32 today maybe some good news on the horizon


----------



## Putty7 (10 December 2009)

*Re: EGO - Empire Oil*

I think you will find that Datsuns notorious elephant dropped shares on the buyers that had accumulated during the morning at .013c, waiting for todays announcement but have a feeling it will be a nothing announcement and will leave us waiting for Friday and more likely Monday, I hope Im wrong but the "Baby Elephant Walk" music is still playing.


----------



## dandyjac (10 December 2009)

*Re: EGO - Empire Oil*

Todays ann getting better with oil shows I think you could be right putty7 will make us wait till after weekend


----------



## Putty7 (10 December 2009)

*Re: EGO - Empire Oil*

Yes the frustrating thing is that if they hadn't done the mates rates cap raising the SP would more than likely be sitting in a good position now, none of the announcements have been bad enough to warrant share drops by traders in volume as they haven't had a look at the main objective yet which a lot would be holding out for (OEX was crucified yesterday because of a nothing announcement after they had finished drilling their first well, surprising because they have a second well to drill but the 2 drill, 2 chances risk vs reward senario is gone).

EGO still has another hole to drill if they go down that road, it makes sense to do so while they are set up, saves site preparation and mobilization costs which are not insignificant to a minnow explorer. So, we are in the paydirt so to speak with the possibility of the second drill to follow, the upside for the SP is they seem to have set .013c as the target price to unload rather than belting the SP down further than they have to, buyers seem to still happy to pick them up at .013c for the moment.


----------



## Putty7 (10 December 2009)

*Re: EGO - Empire Oil*

Buyers support at .013c finally dried up, light breachs into .012c near day end to leave the SP at .012c after a bit of post 4pm playing around, it will be interesting to see if the mass dumping continues on into .012c tomorrow if buyer support at .013c remains withdrawn.


----------



## Datsun Disguise (11 December 2009)

*Re: EGO - Empire Oil*

Well they've breached the Sandstone and the gas shows aren't much different to what was in the A sands,  I would have expected the B sand (the first target) to provide some higher quality shows and perhaps free flowing gas. I think the risk has increased on this one - reflected by a drop down to the 1.1c mark.....


----------



## Putty7 (11 December 2009)

*Re: EGO - Empire Oil*

I wouldn't get to jumpy Datsun, Bootine-1 which is 500m away flowed from the D sands, Monday will be the day I think.


----------



## dandyjac (11 December 2009)

*Re: EGO - Empire Oil*



Putty7 said:


> I wouldn't get to jumpy Datsun, Bootine-1 which is 500m away flowed from the D sands, Monday will be the day I think.




Fully agree putty I think the punters are getting very jumpy shares getting gathered up in large chuncks at 1.1 monday will be the day


----------



## Datsun Disguise (11 December 2009)

*Re: EGO - Empire Oil*



dandyjac said:


> Fully agree putty I think the punters are getting very jumpy shares getting gathered up in large chuncks at 1.1 monday will be the day




I hit my stop at 1.1c.......   I'll have to watch closely Monday now for a re-entry. Could be opportunity knocking if everyone gets spooked by the B sands and then the D sands produce. Let's see.


----------



## prawn_86 (11 December 2009)

*Re: EGO - Empire Oil*



dandyjac said:


> monday will be the day




As far as i can tell EGO is similar to LKO in that it is essentially a co designed to be a money spinner for the management more than the investors. FOr years now both co's have been going to have 'the day' some time in the near future, but it has never eventuated.


----------



## Putty7 (11 December 2009)

*Re: EGO - Empire Oil*



prawn_86 said:


> As far as i can tell EGO is similar to LKO in that it is essentially a co designed to be a money spinner for the management more than the investors. FOr years now both co's have been going to have 'the day' some time in the near future, but it has never eventuated.




Fully agree Prawn, 

40 million directors options dumped early on
96 million directors options dumped a while ago
225 million from cap raising dumped since Friday
225 million options from Cap raising still going through

It sucks, they have shafted the pre spud rise for their own gains and guaranteed profits at the expense of their shareholders, the hole in question should hit the D sands from which Bootine-1 flowed over the weekend, so a gain if any is left to be had should happen after that. If its a duster the SP will be in the basement next week


----------



## dandyjac (11 December 2009)

*Re: EGO - Empire Oil*

whats everbodys feeling to EGO Do you still feel EGO is on the money with this drill or is she curtains till the next drill, there report seems a bit mixed on the first cover page they said prognosis remains high to Bootine-1 also still signs of gas yet everyone appears to be bailing out.
Not sure what to think not an expert when it comes to Gas


----------



## Datsun Disguise (13 December 2009)

*Re: EGO - Empire Oil*

Now on the sidelines but still interested in the outcome. You'll have to watch the announcements very carefully, if they intersect the D sands and the tone of the announcement is not clearly positive then I'd be getting out quick. Also look for a significant drop on unexplained news, that will be all the aunties, uncles, siblings cousins, neighbours and friends of the EGO directorship armed with 'special' infomration all getting out......


----------



## philly (13 December 2009)

*Re: EGO - Empire Oil*

Hey Datsun,
looking at all the ASX announcements on this well they have all been optimistic rather than positive notwithstanding there have been both gas and oil  shows once they reached the target zones. I'm becoming a bit guarded about EGO there's gas there but maybe not commercial otherwise why is the SP still limping along? Then on the other hand why did EGO increase your stake in the permit during drilling if the results are less than they expected?
It's one thing to make ASX announcements as required but maybe it's time to make then in plain English so that investors are properly informed. I for one really don't know the real status of this well. At least I don't have to wait long to find out. Monday is going to be make or break day. I'm hoping for the former as I've been a long term holder.


----------



## dandyjac (13 December 2009)

*Re: EGO - Empire Oil*



philly said:


> Hey Datsun,
> looking at all the ASX announcements on this well they have all been optimistic rather than positive notwithstanding there have been both gas and oil  shows once they reached the target zones. I'm becoming a bit guarded about EGO there's gas there but maybe not commercial otherwise why is the SP still limping along? Then on the other hand why did EGO increase your stake in the permit during drilling if the results are less than they expected?
> It's one thing to make ASX announcements as required but maybe it's time to make then in plain English so that investors are properly informed. I for one really don't know the real status of this well. At least I don't have to wait long to find out. Monday is going to be make or break day. I'm hoping for the former as I've been a long term holder.




Fully agree with you philly, I to am a long term holder & these guys are pissing me off with there poxy announcements because I have no idea where they are up to on this well as the information coming out in the announcements is not clear at all, as you say Mondays the day lets hope EGO have got it together this time with there seismic survey & they hit the target or else this share price will go into the abyss -


----------



## Datsun Disguise (14 December 2009)

*Re: EGO - Empire Oil*

This capping at 1.3c is relentless! Even 'very strong oil shows' the sp can't break the 1.3c ceiling.

Or does the market just not trust these guys? If this is a big holder selling out to make there 30% margin, then once those shares dry up the sp would have to fly (assuming the find is commercial).

I haven't been keeping track of the daily volume overe the last couple of weeks but 1.3c would have to be developing as a pretty strong floor on price. I'll caluclate tonight how many shares have been sold at 1.3c or above over recent times - I reckon it's going to be a decent chunk of total shares on issue.

Been at a chritmas lunch all day - still not in.......


----------



## philly (14 December 2009)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> Now on the sidelines but still interested in the outcome. You'll have to watch the announcements very carefully, if they intersect the D sands and the tone of the announcement is not clearly positive then I'd be getting out quick. Also look for a significant drop on unexplained news, that will be all the aunties, uncles, siblings cousins, neighbours and friends of the EGO directorship armed with 'special' infomration all getting out......




Hey Datsun,
this is what EGO said today
Update 0600 hrs 14-12-09
drilled into Top D sands very strong oil shows between 3568m - 3573m. These very strong oil shows will be evaluated further on electric wireline logs

In line with your comment above I would say that "very strong" is clearly positive. The SP is up 0.002 today on volumes of over 152m. I'm feeling happier today.
What do you think?


----------



## Putty7 (14 December 2009)

*Re: EGO - Empire Oil*



philly said:


> Hey Datsun,
> this is what EGO said today
> Update 0600 hrs 14-12-09
> drilled into Top D sands very strong oil shows between 3568m - 3573m. These very strong oil shows will be evaluated further on electric wireline logs
> ...




Sold out my remaining EGO today, held at .013c again today, the "Very strong Oil shows" were only over 5 metres and no volumes, the gas they were expecting is either lower in the D sands or not there at all.


----------



## Datsun Disguise (14 December 2009)

*Re: EGO - Empire Oil*



Putty7 said:


> Sold out my remaining EGO today, held at .013c again today, the "Very strong Oil shows" were only over 5 metres and no volumes, the gas they were expecting is either lower in the D sands or not there at all.




That's the risk, not looking so much like the sure thing that they've been talking up for a while now....

Philly - not sure what to think, and maybe that is as good an indicator to get out of it as anything. Surely second guessing the companies actions for their true intentions can't be a good thing. Putty makes good points (and backs them up with actions).

I'll continue watching...


----------



## Pivotonian (15 December 2009)

*Re: EGO - Empire Oil*

I'm still in ... for now.

Not sure how much longer I'm going to stick it out though.  Not a lot of confidence that I'm going to get very far with this one.


----------



## dandyjac (15 December 2009)

*Re: EGO - Empire Oil*

Ego Report today not looking to good no real mention on oil pooling & gas unit decreasing, which I would have thought should be increasing as they drill into the D sands, cant' help but feel another duster on the way. I think the company is trying to stretch this drill out I can't belive how long it has taken to get to this stage.


----------



## Putty7 (15 December 2009)

*Re: EGO - Empire Oil*



dandyjac said:


> Ego Report today not looking to good no real mention on oil pooling & gas unit decreasing, which I would have thought should be increasing as they drill into the D sands, cant' help but feel another duster on the way. I think the company is trying to stretch this drill out I can't belive how long it has taken to get to this stage.




Yes I wondered about that to Dandyjac, seems very drawn out for a simple drill that should have been done by now, there is no need to run wirelogs every handful of metres, it just delays things for no reason and adds to the cost of the rig being on site (most companies may run one or maybe two logs depending on whether they will drill further but most wait until completion for this simple fact), not sure what drill bits they are using but it is either very hard going or they are reusing old bits to get the last life out of them because they are burning through those to, whether there is gas coming in the lower sands is anyones guess, in the meantime a lot of volume is still being cleared through the market.


----------



## DAZT49 (16 December 2009)

*Re: EGO - Empire Oil*

While I share your fears re pooling and gas units the drill seems to be on schedule.
See the time/depth chart on page 4
http://imagesignal.comsec.com.au/asxdata/20091215/pdf/01022708.pdf


----------



## philly (16 December 2009)

*Re: EGO - Empire Oil*

Another "nothing" ASX announcement today.The tone now is hopeful rather than positive. Just 2 days ago we were told they had encountered very strong oil shows over a 5m interval. Today no oil shows and deceasing gas. Please tell us where we are really heading! I'm afraid my patience is wearing out on this one.  Any other views out there?


----------



## Putty7 (16 December 2009)

*Re: EGO - Empire Oil*

http://www.pesa.com.au/publications/pesa_news/oct_04/pesanews_7220.html

Some interesting history including the current location being drilled, with regards to the drilling timetable (35 days), they were 4 days ahead of schedule before they started ars*ing about just after the 2800m mark, they have earmarked 5 days at the end of the hole for testing, so why the need to test on the way down and interrupt the drilling when there is nothing to test ?


----------



## dandyjac (16 December 2009)

*Re: EGO - Empire Oil*

Hi any of you guys still on the Ego Express, interesting article putty7 I still don't have the confidence to climb aboard this train as i have a fear of a big crash at the end. I notice punters are very nervous on this drill & are quite eager to pull there money out on any slight negative when the daily announcements come out , can't say I don't blame them


----------



## DAZT49 (16 December 2009)

*Re: EGO - Empire Oil*

Think you are a bit harsh boys, you dont pull the string out in a couple of minutes,
They drilled 75 odd metres from Tues Wed.
Maybe they are running the logs so often because they have a good result.
In the last ann....
"Correlation of intervals in the ‘D’ Sand place Gingin West-1 high to Bootine-1."
"Drill ahead to equivalent D Sand Gas interval that flowed 2.25 MMCFGD in Bootine-1 prognosed Top at 3750m-3755m."
So far the drill has virtually mirrored Bootine 1..and guys 2.25mmcf/d is COMMERCIAL!!
 "Completion equipment being trucked to location."
Did you note that 1 line fellas??
P and A equipment would be on site from spud IMO.
"Completion equipment" may be to ready the the well for production.
I bought in at 2.2c about 3 years ago.............i HOPE so.:


----------



## Pivotonian (17 December 2009)

*Re: EGO - Empire Oil*



dandyjac said:


> Hi any of you guys still on the Ego Express




Yes ... for now.

Got it at 1.4c a little while ago, but I haven't been too impressed with the SP performance in the last couple of weeks, for reasons already expressed in this thread.


----------



## philly (17 December 2009)

*Re: EGO - Empire Oil*



DAZT49 said:


> Think you are a bit harsh boys, you dont pull the string out in a couple of minutes,
> They drilled 75 odd metres from Tues Wed.
> Maybe they are running the logs so often because they have a good result.
> In the last ann....
> ...




Hey DAZT 49 well done spotting "Completion equipment being trucked to location."

In today's ASX announcement EGO adds
"completion equipment includes 4000m of 7 inch casing + 3.5 inch tubing being trucked to location."

IMHO I wouldn't think you need this sort of equipment to be trucked in if the well is a duster. P&A involves closing the well down usually by pouring cement down the hole. Casing and tubing might be useful if you wanted to bring something from the bottom of the well up to the surface. But I would only be speculating and I'll leave that to the traders.LOL


----------



## Putty7 (18 December 2009)

*Re: EGO - Empire Oil*

Well is tomorrow the day they finally hit the zone everyone is waiting for, time will tell, pretty hard going where they are at present so its a good indication it could hold back gas.

The Good - The mass dumping appears to have stopped, so they should run on a good result.

The Bad - I was wrong about the 225 million oppies already going through, so those are still waiting to go into the market at .01c.

The Ugly - Duster.

The info provided a few posts ago was historic from the 60's and 70's relevant to the area, I can only assume Bootine-1 was either worked over at a later date, or it didn't flow for very long at the commercial rate because I don't think it produced for very long.

Will be watching like an idiot in the morning in case I miss the boat but unless they run will hold back.


----------



## Datsun Disguise (18 December 2009)

*Re: EGO - Empire Oil*

Well I'm going to miss the news today as I am off to my company christmas party - nice to have it back. I have a low ball bid in in the case of bad news, but will just have to accept that I won't bve part of any run on good news....

Good luck to everyone holding - what a ride, some valuable lessons learnt on this one I think....

And Merry Christmas & HNY to all - I'm out of broad band range from Saturday onwards!


----------



## DAZT49 (18 December 2009)

*Re: EGO - Empire Oil*

Disappointing ann, but its about what I expected.
IMO not commercial.
Its not a duster, but it will do till one comes along.


----------



## Putty7 (18 December 2009)

*Re: EGO - Empire Oil*



DAZT49 said:


> Disappointing ann, but its about what I expected.
> IMO not commercial.
> Its not a duster, but it will do till one comes along.




Buyer pressure holding it up from a complete capitulation at 1c, a lot of shares dropped but if they can be soaked up at 1c a second drill announcement might keep some of the punters interested. After watching OEX drop on the poor first result of their drilling I actually expected a lot worse but it is still early.


----------



## Go Nuke (6 January 2010)

*Re: EGO - Empire Oil*

I think these guys screwed shareholders whn they issued 225Mil shares @ .009c.

I bought into EGO on that day...then that announcement came out and I sold 15mins later.

Looks like I made the right choice...for a change.

Stopped following EGO once again.
Though historicaly, .009c could be a good longer term entry price.

I know nothing of the fundies for this company though..cash on hand etc. Not willing to put that much effort into EGO


----------



## Datsun Disguise (19 January 2010)

*Re: EGO - Empire Oil*

EGO continues to stun me.

The SP barely moved during the drill, despite encountering all the right stuff on the way down. I think we all put this down to the 225m shares scalping the 30-40% profit on offer from all the keen punters taking an interest as the drill bit sank.

The drill ended in what looked like disappontment... But the SP has not plummeted, i fully expected to see the stock fall below .5c maybe even touch .3 before recovering. So who is buying up at these prices? The volume is not insignificant. Anyway it will be interesting to see what the partners decide to do with this well. I wonder if some vital (positive) info is being held back. If this well all of a sudden becomes commercial I'd be smelling a rat.

Anyway, EGO is now in my 'never trade' pile - far too much manipulation and fiddling by the directors.


----------



## Putty7 (19 January 2010)

*Re: EGO - Empire Oil*



Datsun Disguise said:


> EGO continues to stun me.
> 
> The SP barely moved during the drill, despite encountering all the right stuff on the way down. I think we all put this down to the 225m shares scalping the 30-40% profit on offer from all the keen punters taking an interest as the drill bit sank.
> 
> ...




Gday Datsun, a mate of mine who had traded EGO before this drill reckon they might manage to get enough gas to run a pilot light over the well lol, by the looks he wasn't far wrong, I don't think they can hold anything back legally from the market and it's been a long time between drinks, EGO and LKO are in the don't trade pile now


----------



## angk43 (7 March 2010)

*Re: EGO - Empire Oil*

hi, did anyone buy on the last SP which closed on the 5th of march.. and if so what price did it come in at.


----------



## alfaracing (13 April 2010)

*Re: EGO - Empire Oil*

Nice run today, huge volumes, looking forward to tomorrow......will the steep rise continue? 

Empire Oil & Gas NL, on behalf of the EP389 Joint Venture, is pleased to provide the following gas and condensate
flow rates for the Gingin West-1 gas and condensate discovery well.
As of 1100 hours 13 April 2010, the Gingin West-1 well has a stabilised flow rate of 7.66 million cubic feet of gas per
day (7.66 MMCFGD) and 301 barrels of condensate per day (301 BCPD) on a 38/64 inch choke. The maximum flow
rate was 8.06 MMCFGD.
The current operation is to shut the well in for the build up for pressure readings necessary for the calculations of
reserve estimates.
The Managing Director, Mr Craig Marshall stated “The associated condensate is significant equating to 40 barrels of
condensate per million cubic feet of gas. Condensate attracts a premium price to crude oil at an oil refinery.”
The Company looks forward to providing further information as it becomes available


----------



## bocky (13 April 2010)

*Re: EGO - Empire Oil*

Good announcement today.

I understand they are targetting 8 MBoe. Flow rates are good.

There is still a way to go as far as de-risking the project. In comparison, AZZ have already got 8 MBoe as 2P reserves and has similar flow rates + onshore operation. 

AZZ trades at a premium due to 2P status of reserves + better exploration upside I would think in their fields

As EGO de-risk the project (translate results into 2P category), the share price may be justified above 2 cents, in my view. Until then....., keep alert to exploration updates.

I have a good time line built up and can email notifications if you want to contact me


----------



## alfaracing (13 April 2010)

*Re: EGO - Empire Oil*

Hello Bocky,

Just been looking at AZZ. Sounds impressive. I'll be keeping an eye on this one.

I'm a little buzzed  that ego has finaly moved for me.

Excuse me but what is "2P"


----------



## bocky (13 April 2010)

*Re: EGO - Empire Oil*

2P relates to the confidence level attributable in measuring the size of a reserve. 
Check your aussie stock forum inbox, i sent you something about AZZ


----------



## alfaracing (14 April 2010)

*Re: EGO - Empire Oil*

Cheers bocky,

I just replied to your email.

A bit disapointed in EGO today spose I'll hold for a bit longer


----------



## DAZT49 (8 June 2010)

*Re: EGO - Empire Oil*

An aupdate is well and truly due.
Cant believe they have left us in the lurch for so long after such good reports on GW1.
The thing should be in production by now.


----------



## tinkus (19 July 2010)

*Re: EGO - Empire Oil*

Datsun Disguise

What do you think now - well looks like it has the goods

Maybe you your right and someone did know something , which seems to be the case as it didnt go down low after initial drill seems less positive.

good call

anyway looks solid now at .012 to .013

will jump if deal done on gas and condensate


----------



## Albi (20 July 2010)

*Re: EGO - Empire Oil*

Is there any sign it will be back at .018 cents. I have been holding since a long time.  I am expecting a jump this week, if not I will comeout quickly.


----------



## Datsun Disguise (20 July 2010)

*Re: EGO - Empire Oil*



tinkus said:


> Datsun Disguise
> 
> What do you think now - well looks like it has the goods
> 
> ...




I still watch ego and have been tempted to do some trading with it, but again, it isn't moving as far as it should with a confirmed discovery. The risk as I see it is that the gas does not meet the specs required for the pipeline or the condensate is low grade. Given what I see as the previous shenanigans by the company I'm loathe to believe what they say... Will sit out I think, will miss some good profits if everything pans out, but I'm very protective of my capital these days...

Good luck to those holding - if a deal is done the sp should rise significantly, but I would also have expected the sp to rise further than it has on the confirmed flow rates and condensate recoveries - what was that ceiling again ? 1.3cents? Could just be market mistrust, you reap what you sow.


----------



## Gecko1 (20 July 2010)

*Re: EGO - Empire Oil*

I think all the recent developements point to a good result; if the upcoming announcments support this, then it will be a different ball now for EGO

Good luck to all holders


----------



## philly (14 August 2010)

*Re: EGO - Empire Oil*

zzzz.... wot's happening here?? It's been a month a no announcements despitethe fact that all the data was in and going to be assesssed. How long does this process take? Some news , anything would be welcomed by long term holders. Please


----------



## Albi (16 August 2010)

*Re: EGO - Empire Oil*

quiet interesting day. SP is up as well as volume. There might be good news. waiting...............................................


----------



## philly (17 August 2010)

*Re: EGO - Empire Oil*

ASX ANNOUNCEMENT TODAY 
Independent testing has shown that GINGIN WEST - 1 well has both sweet gas and condensate. Further testing is to be completed by the end of this month. The initial results indicate that the gas is suitable to be transported to sales using the  existing pipelines. The condensate is to be transported by road to the BP refinery.

A step in the right direction
A happy holder


----------



## DAZT49 (17 August 2010)

*Re: EGO - Empire Oil*

Its taken a while and still a bit to before production but...you little ripper


----------



## Miner (18 September 2010)

*Re: EGO - Empire Oil*

about one month - no posting on this thread.

Any thought on the possibile impact of this license application ?

Whereas there are lots of talks and postings on other oil penny stocks - EGO is less visited 

Please see attached

Disclaimer - Do hold


----------



## philly (19 September 2010)

*Re: EGO - Empire Oil*



Miner said:


> about one month - no posting on this thread.
> 
> Any thought on the possibile impact of this license application ?
> 
> ...




From the WA department of mines and petroleum website it can take between 1 -3 months for the application to be processed and granted. Longer if there are Native Title issues which I don't think apply here. 
I would guess that as soon as the licence is granted then EGO can start selling its gas
Revenue = more exploration = more interest = better sp
I am a holder


----------



## Miner (19 September 2010)

*Re: EGO - Empire Oil*




philly said:


> From the WA department of mines and petroleum website it can take between 1 -3 months for the application to be processed and granted. Longer if there are Native Title issues which I don't think apply here.
> I would guess that as soon as the licence is granted then EGO can start selling its gas
> Revenue = more exploration = more interest = better sp
> I am a holder




Thanks Philly.

So for EGO the game plan is to wait and see.
I wanted to finish the mail in two lines. But the 100 characters restriction forced me to insert two more lines in this instance. 

I do recognise the philosophy of 100 characters and no issue there.

I think the webmaster System should consider some technical checks not to have the 100 character restriction when some one actually responding an existing post as a quote.  The philosophy of 100 characters minimum is well served. Just my 
 suggestion.


----------



## Robbo T (29 September 2010)

*EGO - Empire Oil*

Interesting move with announced raising. Whilst it does dilute it is an absolute minimum and results and BP news is around the corner. RG1 will be pretty exciting so the sooner the drill hits the better.


----------



## Trader Paul (22 October 2010)

*Re: EGO - Empire Oil*



Hi folks,

EGO ... our astroanalysis through to the end of 2010:-

     25102010 ... positive news expected from EGO camp.

  27-28102010 ... market may be volatile here, possibly
                  centred around finances ... ???

2910-01112010 ... positive spotlight on EGO expected

     05112010 ... minor cycle

  12-15112010 ... minor cycle

     29112010 ... minor cycle

     03122010 ... minor lunar cycle 

  10-13122010 ... positive cycle expected ... finances(?)

  16-17122010 ... 2 x minor and positive cycles here

     28122010 ... minor & positive spotlight on EGO 

  have a great day

    paul



=====


----------



## philly (24 October 2010)

*Re: EGO - Empire Oil*

I'm expecting the SP to take off once the CR is completed.
The news coming from EGO is all good but the market has not responded at all. The SP closed at 1.2cents on Friday.

Plans are underway to commerialise the Gingin West-1 well discovery with the appointment of Momentum Engineering to design a gas and condensate processing plant as well as 3km of pipeline to tie in with either the Dampier - Bunbury pipeline or the Parmelia pipeline. In addition the drilling of the Red Gully - 1 well, a deviated well from the Gingin West - 1 well, is not far away. And finally there is growing activity in the Carnarvon Basin.

All this makes me a  holder


----------



## philly (24 October 2010)

*Re: EGO - Empire Oil*



philly said:


> I'm expecting the SP to take off once the CR is completed.
> The news coming from EGO is all good but the market has not responded at all. The SP closed at 1.2cents on Friday.
> 
> Plans are underway to commerialise the Gingin West-1 well discovery with the appointment of Momentum Engineering to design a gas and condensate processing plant as well as 3km of pipeline to tie in with either the Dampier - Bunbury pipeline or the Parmelia pipeline. In addition the drilling of the Red Gully - 1 well, a deviated well from the Gingin West - 1 well, is not far away. And finally there is growing activity in the Carnarvon Basin.
> ...




Sorry in the last line I meant Canning Basin not Carnarvon Basin 
And to make matters worse because I didn't pick up my error earlier I couldn't edit imy post so now I have to keep on writing to satisfy the minimum charaters requirement. There done it


----------



## dna4 (10 November 2010)

*Re: EGO - Empire Oil*

Any comments on the share allotments today ?

I am not too sure with the news either it's good or bad.

Thanks,


----------



## philly (22 December 2010)

*Re: EGO - Empire Oil*

EGO announced today that the Red Gully 1 well in the Perth Basin WA is scheduled to commence drilling on 5/1/11. The farm in with Cottlesoe has been cancelled and ATM EGO retains its 68% interest. Its been a long wait and hopefully worth it. Holders have been very patient with this one and deserve to be rewarded.


----------



## philly (6 January 2011)

*Re: EGO - Empire Oil*



philly said:


> EGO announced today that the Red Gully 1 well in the Perth Basin WA is scheduled to commence drilling on 5/1/11. The farm in with Cottlesoe has been cancelled and ATM EGO retains its 68% interest. Its been a long wait and hopefully worth it. Holders have been very patient with this one and deserve to be rewarded.




The Red Gully - 1 well spudded this morning at 2.30am [WST]. The well is to be drilled to 3975m TD. The primary target is the Cattamara Coal Measures Sand Member D.
EGO retains a 68% interest in the well. Good luck to all holders


----------



## DAZT49 (6 January 2011)

*Re: EGO - Empire Oil*

philly,
It took a long time!!
Fingers crossed for good results from target zones.
I bought in in 2008 at 2.2c, hopefully it will get somewhere near that.


----------



## 1nvstor (7 January 2011)

*Re: EGO - Empire Oil*



DAZT49 said:


> philly,
> It took a long time!!
> Fingers crossed for good results from target zones.
> I bought in in 2008 at 2.2c, hopefully it will get somewhere near that.




Since the commencement of drilling how long till resullts do you think?


----------



## philly (7 January 2011)

*Re: EGO - Empire Oil*



1nvstor said:


> Since the commencement of drilling how long till resullts do you think?




There is a time depth curve accompanying todays ASX announcement. 
If all goes well it will take about 30 days to reach the secondary targets and about 35 days to reach the primary target.  All up they need to drill almost 4000 metres. Its a waiting game. Hopefully it will be worth it


----------



## philly (11 February 2011)

*Re: EGO - Empire Oil*



philly said:


> The Red Gully - 1 well spudded this morning at 2.30am [WST]. The well is to be drilled to 3975m TD. The primary target is the Cattamara Coal Measures Sand Member D.
> EGO retains a 68% interest in the well. Good luck to all holders




The Red Gully well reached TD this morning. Gas was encountered in the primary target D Sands. Wire log testing to be conducted over the weekend and hopefully some positive news early next week. Good luck to all holders


----------



## DAZT49 (12 February 2011)

*Re: EGO - Empire Oil*

Good results!!.
might get my 2.2c yet lol
certainly not the 6..8.10.15c as predicted elswhere.


----------



## philly (12 February 2011)

*Re: EGO - Empire Oil*



DAZT49 said:


> Good results!!.
> might get my 2.2c yet lol
> certainly not the 6..8.10.15c as predicted elswhere.




Hey Datz ATM 2.2c would be a godsend.
IMHO there is no doubt that EGO is tainted by the market and that it is always going to be a penny share no matter what it does and how much oil/gas it discovers.
I would love to be proven wrong but I've been in this one a long long time and my patience is wearing thin.
Good luck to all holders


----------



## philly (15 February 2011)

*Re: EGO - Empire Oil*



philly said:


> The Red Gully well reached TD this morning. Gas was encountered in the primary target D Sands. Wire log testing to be conducted over the weekend and hopefully some positive news early next week. Good luck to all holders




Wireline logs confirm gas saturation in the "B" and "D" sands consistent with gas shows detected during drilling.
A positive result and further testing is to be undertaken this week yet the SP remains stagnant. ASX please show some love.


----------



## prawn_86 (15 February 2011)

*Re: EGO - Empire Oil*



philly said:


> yet the SP remains stagnant. ASX please show some love.




has been a pump and dump too many times before. Actual investors (not traders) want to see something solid which the company has never provided in its years of being listed.

Has been a great cash cow for the directors though


----------



## philly (22 February 2011)

*Re: EGO - Empire Oil*



DAZT49 said:


> philly,
> It took a long time!!
> Fingers crossed for good results from target zones.
> I bought in in 2008 at 2.2c, hopefully it will get somewhere near that.




Hey DAZT49
good news from EGO [at last !!] it may have just found the largest jurassic gas discovery onshore WA.
The well encountered 2 gross gas pays, D Sands - 18m and B Sands - 56m
Recoverable gas is estimated at between 20-33 BCF 
EGO plans to fast track the construction of  the gas plant

The SP is edging towards 2 cents and hopefully will pass your entry price by cob today.


----------



## alfaracing (22 February 2011)

*Re: EGO - Empire Oil*

I've been waiting for this news for a while now...I'm excited

What a result

watch this space


----------



## qeegbill (23 February 2011)

*Re: EGO - Empire Oil*



philly said:


> Hey DAZT49
> good news from EGO [at last !!] it may have just found the largest jurassic gas discovery onshore WA.
> The well encountered 2 gross gas pays, D Sands - 18m and B Sands - 56m
> Recoverable gas is estimated at between 20-33 BCF
> ...




Does anyone know what a BCF of gas is worth?


----------



## philly (23 February 2011)

*Re: EGO - Empire Oil*



qeegbill said:


> Does anyone know what a BCF of gas is worth?




A BCF is a billion [1,000,000,000] cubic feet

Gas is sold by the 1000 cubic feet for $US3.88

therefore 1,000,000,000 /1000 x $US 3.88 = $US 3,880,000 per BCF


Using EGO estimates of b/w 20 - 33 BCF then I calculate that:

20 BCF = $US 77,600,000 and 33 BCF = $US 128,040,000


----------



## Trader Paul (23 February 2011)

*Re: EGO - Empire Oil*



Hi folks,

EGO ... took profits today, just ahead of the
peak of this positive time cycle, expected over
the next couple of days .....

..... our astroanalysis will have us looking for an
extreme high over the next couple of days, with a
possible double top, around next Thursday 03032011,
as the last positive time cycle in this series,
comes into play.

have a great day

  paul



=====


----------



## AussieBoy (24 February 2011)

*Re: EGO - Empire Oil*

Some price sensitive info that's just come in a few minutes ago, which has resulted in a trading halt:

http://www.asx.com.au/asxpdf/20110224/pdf/41x0lsrdxkgb2f.pdf

I don't understand all the terminology/jargon in this.  Could someone explain to me whether or not this is good or bad?


----------



## philly (24 February 2011)

*Re: EGO - Empire Oil*



AussieBoy said:


> Some price sensitive info that's just come in a few minutes ago, which has resulted in a trading halt:
> 
> http://www.asx.com.au/asxpdf/20110224/pdf/41x0lsrdxkgb2f.pdf
> 
> I don't understand all the terminology/jargon in this.  Could someone explain to me whether or not this is good or bad?




Hi Aussie Boy
I am no expert but as I understand what EGO is saying is as follows-
hey look at us we just found lots of gas in the Perth Basin. Its close to existing pipelines and close to markets. We can be your new supplier. We will be more reliable because your supply won't be interupted by cyclones and fires like they unfortunately have up north. Don't rely on your gas from the NWShelf and come to us instead. We are planning on drilling more wells in this area and getting more gas to you the consumer. Please support us.

I hope that helps.
If there is a different interpretation out there then please share it with us.
Whatever slant you put on the announcement it seems the market likes it because the SP is up to 0.034 it was 0.017 last week. That's a 100% increase.
All IMHO & DYOR
I hold


----------



## pilots (24 February 2011)

*Re: EGO - Empire Oil*

They have nothing yet, wait until they have done the flow test. This mob has been around for years, look at how many shares they have, be VERY CAREFUL.


----------



## DAZT49 (25 February 2011)

*Re: EGO - Empire Oil*

pilots, agree about flow tests, but it is looking good


----------



## xenith69 (25 February 2011)

*Re: EGO - Empire Oil*

Be careful yes i agree as Craig is not the most admirable MD, but if youve traded this like myself youd be well in front!
Well done those who are 170% up in 3 weeks


----------



## pilots (26 February 2011)

*Re: EGO - Empire Oil*

You can bet your last $ they will be looking to raise money this month.


----------



## xenith69 (27 February 2011)

*Re: EGO - Empire Oil*

Im chasing 4.4cents and im out with a 400% profit.
Craig will dilute the bejesus out of this now!


----------



## Elliot (27 February 2011)

*Re: EGO - Empire Oil*

Just having a look on CommSec under shareholders doesn't really specify any shareholders listed how come ?


----------



## ixalus (1 March 2011)

*Re: EGO - Empire Oil*



Elliot said:


> Just having a look on CommSec under shareholders doesn't really specify any shareholders listed how come ?




http://www.empireoil.com.au/capitalstructure/capital_structure.html this should give you a fairly accurate figure of issued shares if I'm not mistaken.

Today caused a fairly big panic in the market hitting almost 20% decline in value. I think this stock has yet to retrace back to 0.025 or even 0.03 after the gains in the past 3 weeks. Many stop losses hit for day traders who are caught playing T+3.


----------



## philly (14 March 2011)

*Re: EGO - Empire Oil*



pilots said:


> They have nothing yet, wait until they have done the flow test. This mob has been around for years, look at how many shares they have, be VERY CAREFUL.






DAZT49 said:


> pilots, agree about flow tests, but it is looking good






xenith69 said:


> Be careful yes i agree as Craig is not the most admirable MD, but if youve traded this like myself youd be well in front!
> Well done those who are 170% up in 3 weeks




I too have been very cautious with this one and as a long term holder extremely patient but I think we may be onto something rather big here. I hope that I am reading this correctly if not please share your views

*Red Gully-1 sings for Empire*
source Upstream staff  14 March 2011 07:08 GMT 
Australian junior Empire Oil & Gas has successfully flowed gas to the surface during testing of the Red Gully-1 well in EP 389, in the Perth basin, onshore Western Australia. 

The company carried out production testing on the ‘D’ Sand Cattamarra formation, recording maximum flow rates of 11.7 million cubic feet of gas per day and 888 barrels of condensate per day during an initial 10 hour period. 

Empire said Red Gully-1 was the the largest gas and condensate discovery and highest flowing gas well from a Jurassic reservoir onshore Western Australia. 

Managing director Craig Marshall said the flow rates from Red Gully-1 and the nearby Gingin West-1 well dispelled the myth that the Jurassic Cattamarra sandstones at Gingin were tight. 

He added that knowledge gained from the drilling of Red Gully-1 would be used to continue drilling the seismically defined prospects along the 60 kilometre Gingin to Bullsbrook trend. 

“Additional 3D seismic is the key to the EP 389 joint venture becoming a more significant Perth basin gas producer and supplier to a market continuing to seek a diversity of supply from North West Shelf gas,” Marshall said. 

“The high condensate yields of the gas at Red Gully-1 and Gingin West-1 is the ‘cream on the top’ and will be trucked to the BP refinery under a crude oil contract.” 

Empire has previously announced the total recoverable gas from Red Gully-1 was estimated to be between 40.7 billion cubic feet and 58.9 Bcf of gas and between 2 million and 3 million barrels of condensate. 

Empire has a 68.75% interest in Red Gully-1, with ERM Power holding a 21.25% stake and Wharf Resources holding the remaining 10%.


----------



## Sharmane (15 March 2011)

*Re: EGO - Empire Oil*

Can anyone please confirm what the gas is worth i was lead to believe gas was sold on contract anywhere between $6 and $10 per 1000 cubic feet


----------



## philly (15 March 2011)

*Re: EGO - Empire Oil*



Sharmane said:


> Can anyone please confirm what the gas is worth i was lead to believe gas was sold on contract anywhere between $6 and $10 per 1000 cubic feet




Gas is sold by the 1000 cubic feet currently for about $US3.88


----------



## Sharmane (15 March 2011)

*Re: EGO - Empire Oil*

Is this gas worth between $6 and $10 per 1000 cubic feet?


----------



## Slipperz (28 March 2011)

*Re: EGO - Empire Oil*



Sharmane said:


> Is this gas worth between $6 and $10 per 1000 cubic feet?




Looking at todays price action I would suspect the answer would be no.


----------



## garthstar (31 March 2011)

*Re: EGO - Empire Oil*

just been reading ann. well test positive. planning to build a processing plant.
if these guys r telling the whole truth, this is going somewhere.
maybe they wont dilute. instead sell the product theyve already tapped for cashflow to continue expansion.... hope the wells last, dont do a quick fizzle (cvn anyone?!)

does anyone have a pet technical indicator for determining when the next run up is starting on one of these asx small ones? they seem to operate on an 80:20 or 70:30 basis, with the 20 or 30 being the run up, the 70 or 80 being rubbish.

i hate being stuck for 2 months in consolidation if i get excited and enter too early....

gotta know when the foreplay is over and its time to enter...


----------



## philly (31 March 2011)

*Re: EGO - Empire Oil*



garthstar said:


> just been reading ann. well test positive. planning to build a processing plant.
> if these guys r telling the whole truth, this is going somewhere.
> maybe they wont dilute. instead sell the product theyve already tapped for cashflow to continue expansion.... hope the wells last, dont do a quick fizzle (cvn anyone?!)
> 
> ...




Hi Garthstar,
the problem with these small ones is they don't get much brokerage cover so they are largely ignored by the market.
IMHO the SP is likely to consolidate around current prices [0.033] until either production begins [and that is some time away as the production plant is still on the drawing board] or there is a significant upgrade in reserves or a takeover bid.

Of these the reserves upgrade is the most probable. On that basis I would guess that there would not be any significant sustainable increase in the SP from current levels for bw 6-12 months.

I do note however that during drilling the SP spiked at 0.048 so that might be achievable again.
All IMHO & DYOR.
I hold.


----------



## Anmar (30 May 2011)

*Re: EGO - Empire Oil*

EGO seems to have a large turnover in relation to the share price.
They have obviously found a good supply of Gas and Condensate, they have supply contract in place and the engineering work for recovery of product seems to indicate that should take place sometime in August or September. Will keep a close watch on this one.


----------



## Jonno J (12 August 2011)

*Re: EGO - Empire Oil*

I'm very interested in this stock. I may be looking to buy in the near future. Hope it all goes well. promising.


----------



## Jonno J (12 August 2011)

*Re: EGO - Empire Oil*

Sorry can't find the edit button.

I was wondering if someone in the know could analyze the latest announcements etc

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=EGO

and give their opinion?


----------



## DAZT49 (21 August 2012)

*Re: EGO - Empire Oil*

The lawyers of EGO has caused a shutdown of the EGO thread over on HC.
This is a gross misuse of power and a insult to freedom of speech in this democracy.


----------



## DAZT49 (21 August 2012)

*Re: EGO - Empire Oil*

Topstocks has similarly closed its EGO thread due to legal threats.
I guess Ozstockforums is next.


----------



## pilots (22 August 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> Topstocks has similarly closed its EGO thread due to legal threats.
> I guess Ozstockforums is next.




This is one company I am glad I don't hold any shares in, I can't see them trading for much longer.


----------



## Coobator (23 August 2012)

*Re: EGO - Empire Oil*

I can not see that CM adn the board are doing themselves any favours.  The latest Ann on 20/8/12 is a bit hard to swallow.  After all the uproar now they move the date of the SSP back a month.....just in time for the EGM.  Then we will see how the cookies crumbles.


----------



## DAZT49 (26 August 2012)

*Re: EGO - Empire Oil*

coobator,
Just painting themselves as bullies imo
Suing a poster on a internet forum.
Sending out a "big stick' letter.
Not a good look for a company and smacks of panic.


----------



## stockaid1 (26 August 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> coobator,
> Just painting themselves as bullies imo
> Suing a poster on a internet forum.
> Sending out a "big stick' letter.
> Not a good look for a company and smacks of panic.




Saturdays West Australian interesting article about legal action, whats happening to this stock.


----------



## stockaid1 (26 August 2012)

*Re: EGO - Empire Oil*



Coobator said:


> I can not see that CM adn the board are doing themselves any favours.  The latest Ann on 20/8/12 is a bit hard to swallow.  After all the uproar now they move the date of the SSP back a month.....just in time for the EGM.  Then we will see how the cookies crumbles.




Yes it is all very strange, read SPP large quantity 30%, further dilution, certainly there to effect 249, just have to wait and see how it all plays out. Just can't wait for all this drama to go away. I think this stock has got a lot of problems and the market isn't warming to it either. With all the recent announcements, they seem focused on other things than getting on with achieving production, cost blowouts and all the other bad news from JV's What next!. What a painful ride this has been.


----------



## DAZT49 (27 August 2012)

*Re: EGO - Empire Oil*

stocky,
Yes, if only they had concentrated 100% on Red Gull 3 years ago this would all have all been avoided.
It will be a lawyers picnic imo, but hopefully the right outcome will be achieved.


----------



## DAZT49 (27 August 2012)

*Re: EGO - Empire Oil*

imo somebody took a big hit today.
20mill dump at near 2 year low.


----------



## DAZT49 (28 August 2012)

*Re: EGO - Empire Oil*

its on
http://imagesignal.comsec.com.au/do...nZXNpZ25hbC9lcnJvcnBhZ2VzL3BkZmRlbGF5ZWQuanNw
Finally maybe some resolution to the inertia of the last 3 years.


----------



## DAZT49 (5 September 2012)

*Re: EGO - Empire Oil*

Todays ann.
Seems that the legal bullying of shareholders has made 197 jump ship.
A great shame and amazing that these previous complainers have now decided that its ok for their investment to erode even further.
I doubt wether ANY of the 197 are in profit and most would be holding HUGE losses.


----------



## stockaid1 (6 September 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> Todays ann.
> Seems that the legal bullying of shareholders has made 197 jump ship.
> A great shame and amazing that these previous complainers have now decided that its ok for their investment to erode even further.
> I doubt wether ANY of the 197 are in profit and most would be holding HUGE losses.




Just read www.empireoil-changenow.com website very interesting graphs, seems things are heating up, also read posts on facebook
EGO (empire oil) WTF, there sole supporter thinks Eddie doesn't have the numbers to do 249. Very interesting, I got told they have the numbers, well I think it is going to get messy. Interesting to see how many shares the SPP will be added to the register, more dilution, consolidation must be on the cards at some stage. What a messy ride with all this legal threats and further dilution, any updates regarding building plant, looks like Jan/Feb next year. What a mess imo


----------



## Clansman (6 September 2012)

*Re: EGO - Empire Oil*

Can someone enlighten in plain english exactly what is going on here.


----------



## DAZT49 (7 September 2012)

*Re: EGO - Empire Oil*

From todays ann.
1. Empire today received (via its solicitors) a further bundle of requisitions on behalf of Mr Eddie Smith. The number of requisitions was 37 who hold collectively about 6% of the issued capital of Empire. 
2. Empire notes that the number of requisitioning shareholders supporting Mr Smith has decreased from 359 to 37..

A further 37 added but only 37 left??
Hmmm are they very poor at arithmetic or misleading holders.
I am shocked if that many punters have left.
Bring on the EGM and lets get this thing resolved and get producing!!
...............
If you are going to tell porkies you have to have a good memory.


----------



## DAZT49 (24 September 2012)

*Re: EGO - Empire Oil*

33mill dumped in 24 mins


----------



## pilots (24 September 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> 33mill dumped in 24 mins




That is ONLY the start of the dump.


----------



## The Darb (24 September 2012)

*Re: EGO - Empire Oil*

The Dump was always going to happen. I am waiting to see how low it will go then i will buy some more .
With all the permits that EGO have and the drills planned . The price should recover


----------



## DAZT49 (24 September 2012)

*Re: EGO - Empire Oil*

The $10k a day they are spending sueing us would be better spent on the plant.


----------



## DAZT49 (24 September 2012)

*Re: EGO - Empire Oil*



pilots said:


> That is ONLY the start of the dump.



pilots ..you dont hold shares in another loser do you lol


----------



## DAZT49 (24 September 2012)

*Re: EGO - Empire Oil*

I am confused, isnt the "Fast Eddie" proposal due for some kind of resolution this week?


----------



## The Darb (24 September 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> I am confused, isnt the "Fast Eddie" proposal due for some kind of resolution this week?




The Supreme Court Ruling the validity of the first requisitions to be held on 26 September


----------



## The Barbarian Investor (24 September 2012)

*Re: EGO - Empire Oil*



The Darb said:


> The Dump was always going to happen. I am waiting to see how low it will go then i will buy some more .
> With all the permits that EGO have and the drills planned . The price should recover




Will be interesting to watch it pan out


----------



## DAZT49 (25 September 2012)

*Re: EGO - Empire Oil*

meeting called for 30th Oct.
its wierd with no discussion on EGO on HC and Topstocks.
Absolutely disgusting that management has gone down that road.


----------



## DAZT49 (26 September 2012)

*Re: EGO - Empire Oil*

question for joeblow if he is looking in.
any pressure on ASF from company re EGO posts?


----------



## Joe Blow (27 September 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> question for joeblow if he is looking in.
> any pressure on ASF from company re EGO posts?




No, I have not been contacted by anyone regarding this thread.

I will happily defend the right of ASF members to participate in any reasonable and responsible discussion on this or any other company listed on the ASX. That is, after all, the purpose of forums such as ASF. However, please note that defamatory posts will not be tolerated under any circumstances, so I urge everyone to stick to discussing the facts.


----------



## DAZT49 (27 September 2012)

*Re: EGO - Empire Oil*

thanks joe,
Being careful with our posts on ASF.
There was a LOT of vitriole over on HC (and no wonder) but no excuse for the stand EGO took,
 it may come back and bite them big time at the AGM.
Unfortunately now important info is not getting out to shareholders
daz


----------



## The Darb (30 September 2012)

*Confused*

Confused 
I am unsure What to do about the General meeting.
After reading both sides of the debate I still wont be able to tell until the day I vote .
This is a very Important decision and requires alot of emotion be left out of the vote.
Which ever way it goes I hope the share price does improve . I am one of those (Mum & Dad )
investors that people talk about .We intend to hold for The Long term and hope that with future Drilling 
of The Large Permits Empire have .We will one day be sitting on a large win and possibile dividends.


----------



## DAZT49 (3 October 2012)

*Re: EGO - Empire Oil*

darb,
I am a LT over 6 years now, my shares a worth 1/3 of the price I paid.
How long can I be optomistic for??
They should have been producing 2 years ago.
Unfortunately the current challenge has only strengthened thier resolve to brickwall
shareholders.
You vote how you feel you should but I urge you to revisit all the points of discontent that have been brought up in the last few years and ask yourself if thats the way your investment managed.
If you want to ask questions about the challenge try www.empireoil-changenow.com 
Of course you can also EGO questions  too. www.empireoil.com.au good luck with that one.


----------



## river10 (9 October 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> darb,
> I am a LT over 6 years now, my shares a worth 1/3 of the price I paid.
> How long can I be optomistic for??
> They should have been producing 2 years ago.
> ...




Agree with all in that letter anyone would write the same, but they never really gave us a plan of how to improve the situation, and honestly I do not believe they have the qualification or the experience to lead the company especially at this stage. I will be more patient and wait for early-mid next year to see if there will be an improvement after the commissioning of the gas plant.


----------



## DAZT49 (9 October 2012)

*Re: EGO - Empire Oil*

river,
Thats yr call,.. another 9 months??I cant see, from past history that things will change.
Are you really happy for them to bash up us shareholders and sue anyone who has a critical take
on how they run things??using OUR money ($10k/day for there lawyer).
To many other questions about other dealings, outrageous management salarys and option packages.
Slow as a wet week progress and drilling and producing from RG but happy to drill holes all over WA and call that progressing the company.
How Alcoa has held on for this long I dont know
At the very least I hope the EGM gives them a huge kick up the bum, but will they change?
And river... the SP mate...0.012c, look where its gone in the last 18 months.


----------



## DAZT49 (10 October 2012)

*Re: EGO - Empire Oil*

A couple of months a go they touted a closer relationship with holders with a weekly newsletter.(A good start imo):
Last one was 28th Aug??
That didnt last long did it?


----------



## The Barbarian Investor (10 October 2012)

*Re: EGO - Empire Oil*

Bought in at 0.0110

It's now around 0.0140, should have sold at around 0.040 but thought it had a bit more gas in the tank (pun intended)


----------



## DAZT49 (11 October 2012)

*Re: EGO - Empire Oil*

river,
imo the new management (if they get up) will bring transparency, which fas been sadly lacking.
Managements contempt for its financiers (us) and its "born to rule" attitude is mindnumbing.
I have said before that Craig IS EGO, but I now feel he has taken his $800k (stand corrected on that, but near enough) salary, and us for granted.
End the end,we both have shares in this company, I hope to come out square one day and I hope you make a good profit.
daz


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## The Darb (11 October 2012)

*Re: EGO - Empire Oil*

Well I am Starting to get the full picture now  
As a matter of interest I randomly picked Page 26 on this Forum and started reading
by the time I had read pages 26 ,27 ,28. 29, a very clear picture was starting to emerge
for the sake of 10 to 15 minutes i suggest posters read old posts  I know that it is helping me
with my decision I noticed you there posting  Daz49 .I think page 26 was 2009 sometime.
good luck every one I am of to read the remainder of the old posts .

Off work today sore back so plenty of spare reading time


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## DAZT49 (11 October 2012)

*Re: EGO - Empire Oil*

darb,
had a quick look, think i am the only one still posting lol


----------



## DAZT49 (11 October 2012)

*Re: EGO - Empire Oil*

changenow site has been updated, with a statement by Eddie Smith that may answer some questions that river and darb may have.
http://www.empireoil-changenow.com/
i have checked Empire web site but no updates there of late.


----------



## The Darb (15 October 2012)

*Re: EGO - Empire Oil*

It is nice to see a bit of confidence creeping back into the share price.
Bit By Bit Slowly slowly


----------



## river10 (15 October 2012)

*Re: EGO - Empire Oil*



The Darb said:


> It is nice to see a bit of confidence creeping back into the share price.
> Bit By Bit Slowly slowly




Which is weird considering the situation.


----------



## The Darb (15 October 2012)

*Re: EGO - Empire Oil*

Yeah I for one will be glad when the general meeting is done and dusted. 
And who ever is at the incharge can get on with the job at hand .


----------



## eck (16 October 2012)

*Re: EGO - Empire Oil*



The Darb said:


> Yeah I for one will be glad when the general meeting is done and dusted.
> And who ever is at the incharge can get on with the job at hand .




Hi Darb, amen to that. Any one got a contact for a poster from the Hot Copper thread before it was torpedoed- nic was Docmin something, Tks ECK


----------



## The Darb (16 October 2012)

*Re: EGO - Empire Oil*

Hi Eck
That person is called Darren Watson and you can email him on   docleaem@bigpond.com 
And the web site that DAZT49 talked about earlier is worth a read   www.empireoil-changenow.com
Hope that helps mate


----------



## eck (16 October 2012)

*Re: EGO - Empire Oil*



The Darb said:


> Hi Eck
> That person is called Darren Watson and you can email him on   docleaem@bigpond.com
> And the web site that DAZT49 talked about earlier is worth a read   www.empireoil-changenow.com
> Hope that helps mate




Tks for that Darb, will get in touch ECK


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## The Darb (16 October 2012)

*Re: EGO - Empire Oil*

I was just looking at how many shares EGO have all up and this is what i came up with 4,294,967,295.  @ .016 cts
And one off our neighbours NWE have  974,347,449  @.065 cts

If Ego has a consolidation of 5:1 their share price would be  @.08cts  
And the total amount of shares Ego would have after consolidation  is  858,993,459.

Now if my calculations are correct then EGO should be a Screaming Buy at these prices.
Considering we have a much larger permits in The Perth Basin
And EGO is about to go into Production.
NWE was @ .08cts only a few weeks ago because they are HOPING that they have 
WOT WE HAVE Already got 
And if They Have Then they are still a long way OFF Production

I am not giving any advice here just saying it the way I see it 
I could be totally wrong and please tell me if I am 
Thanks The Darb


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## DAZT49 (26 October 2012)

*Re: EGO - Empire Oil*

Great article in Melb Age.
http://www.theage.com.au/business/empire-board-strikes-back-as-feud-hots-up-20121026-289i4.html
They certainly are in big trouble imo


----------



## prawn_86 (27 October 2012)

*Re: EGO - Empire Oil*



DAZT49 said:


> Great article in Melb Age.
> http://www.theage.com.au/business/empire-board-strikes-back-as-feud-hots-up-20121026-289i4.html
> They certainly are in big trouble imo




Where is ASIC indeed? I have not followed this much, but surely this is a gross misuse of shareholder (owners) funds by management (who own only a tiny portion of the co)


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## DAZT49 (1 November 2012)

*Re: EGO - Empire Oil*

I see they are crowing that they had a great result at the AGM, what arrogance, and yes the placing of Bennett as Director for a day is ..."crap in your face voter."!!


----------



## DAZT49 (3 December 2012)

*Re: EGO - Empire Oil*

"having to pay for Bennett as independant choke director for a day choke.Wonder who will chair next meeting. "
Ha ha guess who lol
Really,Mr. EGO is one out of the bag.
I really hope that justice will prevail one day and these people get there come uppance.


----------



## Justthinkin (11 December 2012)

*Re: EGO - Empire Oil*

Dazt ... For all the rumblings the only way to play EGO IMO is a scalp.  At some stage in the near term the gas will flow and the oil will bubble and something nearer fair value of EGO will be delivered. It will be a small window of opportunity only until the EGO pension plan is distracted by another sideshow....

For me, I think Q1/20013 is a good time to enter.  Maybe even during that awkward Xmas/New Year period.  At some stage I will salvage something ex EGO ...

Cheers


----------



## river10 (18 December 2012)

*Re: EGO - Empire Oil*



Justthinkin said:


> Dazt ... For all the rumblings the only way to play EGO IMO is a scalp.  At some stage in the near term the gas will flow and the oil will bubble and something nearer fair value of EGO will be delivered. It will be a small window of opportunity only until the EGO pension plan is distracted by another sideshow....
> 
> For me, I think Q1/20013 is a good time to enter.  Maybe even during that awkward Xmas/New Year period.  At some stage I will salvage something ex EGO ...
> 
> Cheers




You know Justthinkin, having held this stock for so long now, I tend to agree with you that 20013 for recovery is quite a realistic expectation


----------



## DAZT49 (7 March 2013)

*Re: EGO - Empire Oil*

Pretty quiet here. Hotcopper still banned from posting anything to do with EGO.
Its a real pity the attempted board spill didnt ,at least, stir the company in to some
consideration for its long suffering shareholders
The fortnightly "Newsletter' has conveniently dissappered.
Status quo returned, board running its own club.


----------



## Daffyduck (7 March 2013)

*Re: EGO - Empire Oil*

I'm still getting it - http://empireoil.com.au/sites/empireoil.com.au/files/files/2013_03_07_Newsletter_Vol_2_Issue_9.pdf

Personally, the frequency of it is a bit of a waste, monthly would be enough.

Let's hope they can get some results happening.


----------



## DAZT49 (8 March 2013)

*Re: EGO - Empire Oil*

daffy,
I post at 1.34pm, they ann at 4.15pm....reckon they saw my post?? lol


----------



## pilots (8 March 2013)

*Re: EGO - Empire Oil*



DAZT49 said:


> Pretty quiet here. Hotcopper still banned from posting anything to do with EGO.
> Its a real pity the attempted board spill didnt ,at least, stir the company in to some
> consideration for its long suffering shareholders
> The fortnightly "Newsletter' has conveniently dissappered.
> Status quo returned, board running its own club.



 I have been barred from posting on EGO on TS as well.


----------



## Daffyduck (9 March 2013)

*Re: EGO - Empire Oil*



DAZT49 said:


> daffy,
> I post at 1.34pm, they ann at 4.15pm....reckon they saw my post?? lol




Nice, make sure to post some more! 

Bit of a write up on Friday as well.


----------



## Daffyduck (16 May 2013)

*Re: EGO - Empire Oil*

This is worth a read to those that are interested:

http://empireoil.com.au/sites/empireoil.com.au/files/files/2013_05_16_Newsletter_Vol_2_Issue_19.pdf


----------



## The Darb (29 May 2013)

*Re: EGO - Empire Oil*

http://au.news.yahoo.com/thewest/business/a/-/wa/17369525/empire-to-start-red-gully-output/

News paper Article 
Not long now


----------



## DAZT49 (29 May 2013)

*Re: EGO - Empire Oil*

Good news.
I am surprised the SP hasn't reacted to this.


----------



## AussieBoy (30 May 2013)

*Re: EGO - Empire Oil*



DAZT49 said:


> Pretty quiet here. Hotcopper still banned from posting anything to do with EGO.
> Its a real pity the attempted board spill didnt ,at least, stir the company in to some
> consideration for its long suffering shareholders
> The fortnightly "Newsletter' has conveniently dissappered.
> Status quo returned, board running its own club.




Why? What did HotCopper do to get banned (are they also another financial forum like AussieStockForums?)?


----------



## DAZT49 (30 May 2013)

*Re: EGO - Empire Oil*

ozzieboy,
Yes HC is another online forum.
A couple of posters on HC where involved in the attempted board spill and where (are)being sued for slander by EGO lawyers.
HC was threatened with legal action as well if they did not stop the EGO thread and erase ALL posts relating to EGO.
I am sure other forums where warned too (including Aussiestockforums I believe.)
So we have to be careful what we say and how we say it.


----------



## Anmar (27 September 2013)

*Re: EGO - Empire Oil*

27th Sept

ERM Power Limited (ASX: EPW) today announced it had requisitioned Empire Oil & Gas NL 
(ASX: EGO) to call a meeting of shareholders to consider resolutions aimed at removing 
three of four members of the Empire Board and appointing two new Directors. 
If the resolutions are approved, Craig Marshall, Neil Joyce and Jeffrey MacDonald will be 
removed as Directors and two ERM Power representatives, Non-Executive Directors Tony 
Iannello and Brett Heading will be appointed. There is no proposal to remove Dr Bevan 
Warris as a Director. 
Under the proposal, the new Board is expected to be in place for three to six months.


----------



## DAZT49 (27 September 2013)

*Re: EGO - Empire Oil*

The worm is turning.


----------



## pilots (4 October 2013)

*Re: EGO - Empire Oil*

What a joke, EGO has family members on a big wage posting on Hot Whoppers, now is that a company you would invest in????.


----------



## DAZT49 (5 October 2013)

*Re: EGO - Empire Oil*

pilots,
Yeah family and few other ringin's pumpig craig lol


----------



## DAZT49 (14 October 2013)

*Re: EGO - Empire Oil*

Its going to be very interesting to see if ERM can change EGO board.


----------



## Anmar (15 October 2013)

*Re: EGO - Empire Oil*

15th Oct:

Empire Oil and Gas NL ("Empire" or the "Company") provides the opportunity to listen to a Q&A interview with Mr Craig Marshall, Managing Director, where he provides an operational update on the Red Gully Processing Facility and responds to questions raised by shareholder ERM Power in their call to requisition a meeting.

To view, please click on the below link or copy the following details into your web browser:

http://www.youtube.com/watch?v=WILXcFRcJLw&feature=youtu.be


----------



## DAZT49 (17 October 2013)

*Re: EGO - Empire Oil*

The video seemed pretty "produced" to me and unbelievable.
Its going to take some doing for ERM to get this over the line.
1100 shareholders, a vast majority wont bother sending in thier proxy votes
 (I never do with my other dud stocks) and IMO thats what EGO management
wi hang thier hats on.


----------



## Anmar (21 October 2013)

*Re: EGO - Empire Oil*

21st Oct

ERM Power has requested clarification to the Auditors Statement.

As an Extraordinary General Meeting has now been called by Empire for 26 November 
2013, ERM Power continues to believe that a timely response is required by Empire’s 
Auditors to ERM Power's request, which ERM Power believes will be relevant information to 
all Empire shareholders.


----------



## Anmar (25 October 2013)

*Re: EGO - Empire Oil*

Oct 25th.

ERM Power (ASX: EPW) advises that should it be successful in making its proposed 
changes to the Board of Empire Oil & Gas NL (ASX: EGO), the new Board will immediately 
consider ending the indemnities Empire has provided to three existing Empire Directors in 
respect to their personal legal actions against shareholders and others.


----------



## DAZT49 (25 October 2013)

*Re: EGO - Empire Oil &amp; Gas*

ERM are certainly saying the right things to us LT holders, intending to stop/reverse the rediculous
defamation cases is a MAJOR plus.
Long way to go to the meeting and now EGO are trying to outsmart everyone with the scheduling of the EGM/AGM.
I hope SHERS dont get sucked in.


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## Anmar (27 November 2013)

EXTRAORDINARY MEETING OF SHAREHOLDERS

As announced to ASX on Friday 22 November 2013, directors Craig Marshall, Neil Joyce and Jeffrey MacDonald resigned as directors of Empire on that day. Consequently, resolutions 3, 4 and 5 proposed for the meeting were withdrawn.

Resolutions 1 and 2, the appointment of James Brett Lochran Heading and Antonino Mario
Iannello as directors, were passed by a show of hands.

The total number of proxy votes in respect of validly appointed proxies were as follows:
RESOLUTION                                 FOR                  AGAINST   ABSTAIN DISCRETIONARY
Appointment of Mr Brett Heading   2,404,100,368   953,443,787   3,683,718   74,808,960
Appointment of Mr Tony Iannello   2,407,462,905   950,677,083   3,600,385   74,808,960


ANNUAL GENERAL MEETING
The results of the resolutions were as follows:

RESOLUTION RESULT

	Adoption of Remuneration Report 		        Failed on a show of hands
	Re-election of Mr Jeffrey MacDonald as Director Resolution 	withdrawn
	Ratification of Previous Share Issue 		Passed on a show of hands


----------



## linoc (22 February 2016)

Hi All, 1st time poster, bumping a real old thread re EGO rather than starting a new one, can't find any reference to the following.
Not exactly sure how to put this simply...

As a noob with some play money I purchased some of these back in ~08, pre GFC, got burned with all my holdings, all worth ~10k back then, haven't played the game since, left them all sitting there hoping someday they'd comeback, pass them on to my kids or something.

I've not paid any attention to long drawn out notices etc in the mail, just disappointed every time I've occasionally looked at my commsec acc.

Back in August 15 I received a cheque from EGO, something about a _"Sale of shares via Small Holding Sale Facility at A$0.004507 cents per share"_ 40,000 = A$180.28. 

Now, I can't remember what I paid for these, can't find it on commsec, too old I think, but I do know it was a hell of a lot more than that. I havn't deposited the cheque believing perhaps that would legally acknowledge my acceptance? 
As said above I was just going to hold, leave them to my kids incase they came good, As I write this there $0.325.

So my question is, what should I do, where do I stand, do I legally have to accept this deal ending the relationship, or by not depositing the chq can I demand the relationship continues as long as I (or my kids) choose?
Whilst I understand they have operating costs to send out info etc, obviously add's up with small holdings, I have asked them (all holdings) to only forward doc's via environmentally friendly email rather than paper, apparently they're not allowed to?

While at it... Am I best to keep holding onto all this crap or should I sell, take the loss, perhaps I'm able to write it off or something??
There's been some name changes over the years, I have no idea what AQX used to be, or what I paid for them





Thanks for your help/advise, sorry for the length...

Cheers!
Col


----------

