# IND - Indus Energy



## Joe Blow

Quest Petroleum (QPN) was previously known as Nuenco (NEO). All discussion of this company will now continue in this thread. 

For discussion of Quest Petroleum when it was known as Nuenco, please refer to the NEO thread: https://www.aussiestockforums.com/forums/showthread.php?t=416


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## Bluebeard

*Re: QPN - Quest Petroleum*

Today I had a look at this stock. Noticed some big orders and purchased some just for the fun of it. Still when you see the sales today - for me it is worth a small speculative punt which I took. The stock also seems to have a massive support level at 0.007 per share. Current price is at 0.009. There is also a massive disparity between buyer and seller depth.


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## mobcat

*Re: QPN - Quest Petroleum*

Hi guys sure looks interesting QPN i see some body bought $100k worth on close Friday i think i might join the crew on Monday this one seems wayyyy over sold ATM with what it has in store in the ST.

Transerv’s current share price is underpinned by an ongoing 10% interest in tight gas development at Warro, where Alcoa is funding field evaluation. Participation in the Amazon prospect holds speculative appeal. Success would underpin ongoing
cash requirements and would add significantly to its assessed value.

During a hiatus in drilling activity at its 10% held Warro tight gas field in the Perth Basin, Transerv has used its corporate connections with Quest Petroleum, combined
with a flow of new equity funds from the exercise of options, to take a 5% interest in the drilling of two, relatively moderate risk prospects on the Louisiana Gulf Coast to be drilled over the next 6 months. The larger Amazon prospect is expected to spud in October and is likely to take six weeks to drill to a total depth of 4,880 metres, testing several thick horizons of over-pressured sediments within an interpreted tilted fault
block structure where strong seismic AVO anomalism supports a case for discovery of gas at depth.

Amazon is estimated to be capable of holding 45 mmbbls of oil/condensate plus 450 Bcf of gas if hydrocarbons are present and discovery at this level would be worth 9 cps to Transerv for its 5% interest, while Quest would see a 20 cps uplift for its retained 15% and Tango would also have strong leverage of $1.81 per share for its 17.5% in the project.

The smaller Thames structure is situated on the flank of a salt feature and shows multiple layers of targets, again with seismic AVO anomalism supporting the case for
drilling. The Amazon wildcat is budgeted to cost US$8.2 million and TSV will be paying for 9% to earn its 5% equity. Partners give Amazon a 35% probability of success, which makes it moderate risk.

All ASX listed partners here have strong leverage to success on these relatively large targets. Key risks include the normal exploration type of risks and also an engineering risk, associated with drilling in highly over-pressured sediments.

Transerv has taken the stance that this is an achievable target and while there is no current need to spend funds on Warro, this opportunity is worth the risk and if successful could underpin the establishment of a sustaining cash flow to Transerv, which would reduce the need for ongoing new equity issues.

Others along the Gulf Coast, including Strike Energy, Golden Gate Resources and Grand Gulf have largely not met expectations from well-formulated, good looking prospects, which failed to deliver, so caution is always necessary in such speculative ventures.

TSV - Capital Structure
Shares 882.4 m.
Options 87.5 m.
Total 969.9 m.
Price 0.013 $
Market Cap 11.5 $ m.
Cash (est) 2.0 $ m.

Well oil gas Risk NPV NPV Cost
mmbbls Bcf % $m oil gas /BOE US$
Amazon 45 450 20% 1755 22 1.7 14.6 $ 8.0 $
Thames 6 57 20% 223 22 1.6 14.4 $ 5.0 $
Source: Strachan Corporate

Permits TSV QPN TNP
Amazon 5% 15% 17.5%
Thames 5% 15% 17.5%
Discovery Value/share $ TSV QPN TNP
Amazon 0.09 0.20 1.81
Thames 0.01 0.03 0.23
Risk Adjusted Value/Share 0.019 $ 0.042$ 0.38 $
Leverage/share TSV QPN TNP
Amazon 646% 1647% 1390%
Thames 82% 210% 177%
Combined 728% 1857% 1566%


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## mobcat

*Re: QPN - Quest Petroleum*

Nice Vol today with a .1 increase in SP i took on more oppies today QNPO, with the spec pressure building now in QNP as we approach SPUD date wouldnt be surprised to see a very high Vol day very soon the sell depth is very thin relative to shares on offer by the looks the PASS holders have left the building


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## mobcat

*Re: QPN - Quest Petroleum*

Amazon and Thames . large, high impact oil and gas targets

# The combined potential of these targets is between 450 to 650 billion cubic feet of gas and 45 to 65 million barrels of oil, generated from proprietary 3D seismic over proven play types with nearby analogue discoveries. Quest is acquiring a free carried 7.5% working interest in both prospects in consideration of the issue of 180 million fully paid ordinary shares. Quest will be free carried through all drilling costs to total depth in the first Amazon well, and Quest retains a right to acquire a further 2.5% working interest in the Amazon
prospect area at casing point for US$450,000. Quest will be liable to pay its share of any completion costs, estimated at US$170,000 for this well.
# Quest will also be free carried at 7.5% in the first well drilled upon the Thames project should that well proceed as currently planned.
# The Amazon and Thames prospects are part of a regional exploration project in south Louisiana. Approximately 1,000 square miles of proprietary reprocessed Seitel data has been completed with integrated key well and production data obtained. Over 20 leads and prospects have been identified in proven plays and new play fairways.
# The Amazon prospect is a large scale, hanging wall fold with nearly 2,000 acres in fault dependent closure including a 400 acre faulted four?]way closure. The prospective reservoir interval is Oligocene sands which appear seismically very thick. Amazon has good AVO and Fluid Factor support.
# Amazon has estimated gross recoverable reserve potential of 350 to 500 billion cubic feet of natural gas and 35 to 50 million barrels of oil. Leasing of the prospect area is nearly complete and final well planning is currently underway. A 16,000 ft exploration test of this multi?]segment prospect is expected to spud late in July 2010. The well cost to target depth is estimated at US$5.5m. The test well will drill through the Oligocene target sands between 14,000 ft and 16,000 ft where it is expected to encounter reservoir pressure in the order of 11,000 psi.
# The Thames Prospect covers an estimated area of 1,200 acres with an estimated gross recoverable reserve potential of 100 to 150 billion cubic feet of natural gas and 10 to 15 million barrels of oil. It is currently proposed to drill a 16,000 ft exploration test well of this multi?]segment prospect on the flank of a vertical
salt weld. The Thames prospect has stacked objectives in a fault bound block with one larger, deeper objective target interval providing large volume upside. The prospective reservoir interval is Oligocene ponded basin floor fan. The prospect has good AVO support. The Thames well is expected to spud in the fourth quarter of 2010.


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## mobcat

*Re: QPN - Quest Petroleum*

And it just keeps getting better for QPN holders


Quest Petroleum NL has entered into heads of agreement to subscribe for 6.2 million shares, represented 14.5%, of the issued capital in Merric Capital Pty Ltd worth of US$310,000. The final agreement is to be executed in next month.

Merric is a private Australian company that has for the past 2 years has focused on developing an oil and gas exploration and production business in Indonesia. Merric claimed that it has an experienced oil and gas executive team, led by Saxon Palmer.

Merric owns 80% on Prabu Energy Pty Ltd, which was recently awarded a joint study license covering the RanauProject Area, South Sumatera. The remaining 20% is owned by private Indonesian company. Prabu Energy retains the right of first refusal for the grant of a Production Sharing Contract (PSC) on this area upon completion of initial work programs.

The Ranau Project Area covers 2,123km square in onshore South Sumatera and is close to existing producing areas and is thought to contain similar hydrocarbon reservoirs/plays/traps to these production projects. The Ranau joint study provides for an exclusive technical study to be completed and will run for 7 months.

Quest required to establish a bank guarantee to support performance of the joint study and in consideration Quest will be issued a further 6.2m options in Merric exercisable at 5 cent on or before 30 June 2012. The exercise of these options will result in Quest holding a 25% interest in Merric.


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## adobee

*Re: QPN - Quest Petroleum*

Spud date announced.. I would expect this will move substanially prior to spud ? Say 1.9c.. If they come up trumps could run really well.. if they dont.. then same old story...


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## mobcat

*Re: QPN - Quest Petroleum*

Looking good hey Adobee we could be in for a very happy Chrissy holding QPN it,s a P35 on a Elephant feild so Dec sure could be 2 cent ground no doubt when the drill starts spinning


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## adobee

*Re: QPN - Quest Petroleum*

I am hoping for 2-2.2c before spud and then if they come up trumps anything is possible.. will continue to hold and see...  

Liking this one alot more than some of the other explorers and small market cap..


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## adobee

*Re: QPN - Quest Petroleum*

Definetly worth checking out todays announcement & information -
"Big Exploration Play"  .. Spud lined up.. looks like a good opportunity to get on board before and get a potential free ride as the interest builds pre spud ..


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## mobcat

*Re: QPN - Quest Petroleum*

Worth a read big month ahead IMO

http://www.qpnl.com.au/images/stories/exciting_explotation_on_the_gulf_coast.pdf


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## gsnz1

*Re: QPN - Quest Petroleum*

drilling to start on Dec 18 using Nabors Drilling Rig

http://www.proactiveinvestors.com/c...ll-the-arran-prospect-in-louisiana-10672.html

getting close now


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## adobee

*Re: QPN - Quest Petroleum*

shame about the recent cap raising but i guess it is standard they want to get some extra cash in now rather than after in case things dont go to well..


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## adobee

*Re: QPN - Quest Petroleum*

Definetly worth taking note now.. the buyer activity is turning and this looks like it is ready to break out ....  I am going to jump on a few more today and try to get a free carry by the time they actually spud..  Good drillers lined up and a very prospective area... COULD be my second win in the ASF tipping comp if things go well...


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## adobee

*Re: QPN - Quest Petroleum*

http://www.qpnl.com.au/images/stories/exciting_explotation_on_the_gulf_coast.pdf

Broker val at 4.6c


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## newbie trader

*Re: QPN - Quest Petroleum*

Bought into QPN on Thursday. Will most likely sell before TD. How accurate do you think the recommendation of 4.6c is?


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## adobee

*Re: QPN - Quest Petroleum*



newbie trader said:


> Bought into QPN on Thursday. Will most likely sell before TD. How accurate do you think the recommendation of 4.6c is?




not that accurate but probably more accurate than me putting a price target on it, there is another broker report around 14c..  ... but if they come up trumps on the drill 4.6c will be smashed.. if they dont then it will be a fizzer .. before the spud it will by a roller coaster ride.. Good Luck to holders... I am hoping for 2.3c before spud so I can offload some and reduce the risk ..


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## sagitar

*Re: QPN - Quest Petroleum*

Hi Adobee, unfortunately as we all know the spud date was delayed until mid-January. Good thing is that mid-Jan is now just around the corner - by next week will be mid Jan or otherwise 8 more trading days. A poster on another thread stated they spoke to the owners of the rig which is apparently now down in Louisiana. I suspect pre-spud fever is close at hand, along with an anticipated uplift in the share price.


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## adobee

*Re: QPN - Quest Petroleum*

I have heard they will spud this weekend and annouce spud taken place later in the week (could be rubbish) but its whats being said... hopefully we see some interest in it from there on ... Totally different story but BKP runnig well up to spud..


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## adobee

*Re: QPN - Quest Petroleum*

The ASX listed partners in the Amazon prospect, Tango Petroleum Ltd (ASX:TNP), Quest Petroleum NL (ASX:QPN) and Transerv Energy Ltd (ASX:TSV), are pleased to *confirm that the Marian Baker #1 well commenced drilling on Sunday, 16 January, which is the initial test well on the large Amazon Prospect.*Amazon is regarded by the Operator, Caza Oil and Gas, Inc. (TSX: CAZ) (AIM: CAZA), to be a multi-segment prospect, with prospective reservoirs supported by AVO data within a proven play fairway. The Marian Baker #1 well is expected to encounter multiple, potential, hydrocarbon bearing reservoir sections and take approximately 50 days to reach total depth. The Amazon prospect is a large exploration target assessed by independent consultants ISIS Petroleum to have a 35% probability of success. The Amazon Prospect has an estimated mean recoverable potential of 375 billion cubic feet of natural gas and 37 million barrels of oil.


*Lets hope we start seeing some interest this week...*


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## Trevoru

*Re: QPN - Quest Petroleum*

A bit of a review includes QPN and CAZA towards the end of the report:

http://www.youtube.com/watch?v=AMGr3nAamWE


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## Mase187

*Re: QPN - Quest Petroleum*

The potential here is insane! but it doesnt seem to have the same interest as some of the other ones out there.. why?


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## Trevoru

*Re: QPN - Quest Petroleum*

Sellers outweigh buy at open - still waiting on Ann.
Caza up very slightly overnight but no Ann there either.
Waiting, waiting, waiting


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## adobee

*Re: QPN - Quest Petroleum*

holding some and have another buy at .013  really a bit of a gamble.. 
If they come up with results it should fly if they dont it will be a fizzer ...
wait and see i guess.


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## Trevoru

*Re: QPN - Quest Petroleum*

Caza up 6.97% in London, but on TMX opened at 0.082 but finished the day up 20% on a high 0.93 -  pretty low volumes though - no update or Ann from Caza. 
Hopefully some good signs for QPN next week.


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## Trevoru

*Re: QPN - Quest Petroleum*

QPNO volume of almost 26mil today - 11/03 expiry - but little action on heads.


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## adobee

*Re: QPN - Quest Petroleum*

still just waiting .. think we should have a company maker or a fizzer this week ..


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## Mister Mark

*Re: QPN - Quest Petroleum*



adobee said:


> still just waiting .. think we should have a company maker or a fizzer this week ..




Or maybee this week, please?


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## wazzarooni

*Re: QPN - Quest Petroleum*

this is the week! lots of activity...


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## Joe Blow

*Re: QPN - Quest Petroleum*



wazzarooni said:


> this is the week! lots of activity...




Can you please be a little more specific? Why is this week "the week" and what is particularly interesting about the "lots of activity" you mention?


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## wazzarooni

*Re: QPN - Quest Petroleum*



Joe Blow said:


> Can you please be a little more specific? Why is this week "the week" and what is particularly interesting about the "lots of activity" you mention?




Next week is technically when its all supposed to happen, though there is some speculation it will happen earlier


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## Joe Blow

*Re: QPN - Quest Petroleum*



wazzarooni said:


> Next week is technically when its all supposed to happen, though there is some speculation it will happen earlier




I think you overlooked the part of my previous post where I asked you to be more specific.

1. What is supposed to happen next week?
2. When you said there was "lots of activity" what activity were you referring to and why is it significant?


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## adobee

*Re: QPN - Quest Petroleum*

For those with any interest ..

QPN which is involved in the drilling of Marian Baker #1 well an onshore gas prospect in Louisiana is now at 11,350 feet. The target is 14,000 to 16,000 ..  Fingers crossed at 14,000 feet they start seeing gas and hydrocarbons ..   One would expect this target to be reached late this week..


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## wazzarooni

*Re: QPN - Quest Petroleum*

https://invest.etrade.com.au/Quotes...spx?symbol=QPN&tab=ASX Company Announcements#

by my calculations it is late this week, early next!


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## gsnz1

*Re: QPN - Quest Petroleum*



adobee said:


> For those with any interest ..
> 
> QPN which is involved in the drilling of Marian Baker #1 well an onshore gas prospect in Louisiana is now at 11,350 feet. The target is 14,000 to 16,000 ..  Fingers crossed at 14,000 feet they start seeing gas and hydrocarbons ..   One would expect this target to be reached late this week..




There is a well approx 400m away that was producing at ~11700ft so I am hoping for a "show" of some sort of HC to generate some interest. It has not been the usual run up to potential zones of interest in a speccy oiler. 

http://sonlite.dnr.state.la.us/sundown/cart_prod/cart_con_wellinfo2?p_wsn=230713


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## Magic Man

*Re: QPN - Quest Petroleum*

Havent really been following this one, my small spec is Baraka Petroleum. What can we expect from QPN`s share price with relatively positive news??


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## gsnz1

*Re: QPN - Quest Petroleum*



Magic Man said:


> Havent really been following this one, my small spec is Baraka Petroleum. What can we expect from QPN`s share price with relatively positive news??




from an independant report...... disc i hold QPN & TNP



> The Amazon prospect is estimated to be capable of holding 30 mmbbls of oil/
> condensate plus 300 Bcf of gas at the P50 level, if hydrocarbons are present. Strachan
> Corporate estimates that discovery at this level would be worth 10.6 cents per share on
> fully diluted equity to Quest for its 15% working interest, while Transerv would see a 6
> cent per share value uplift for its retained 5% and Tango Petroleum would also have
> strong leverage of $1.20 per share for its 17.5% in the project.




http://www.qpnl.com.au/images/stories/exciting_explotation_on_the_gulf_coast.pdf


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## Magic Man

*Re: QPN - Quest Petroleum*

Still no announcements... is this a pipe dream?


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## philly

*Re: QPN - Quest Petroleum*



Magic Man said:


> Still no announcements... is this a pipe dream?




The well spudded on 16 January 2011 and it was estimated to take 50 days to reach TD.
On my reckoning that would be on or about 7 March 2011... 10 days away.
Patience Magic Man


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## Trevoru

*Re: QPN - Quest Petroleum*



Magic Man said:


> Still no announcements... is this a pipe dream?




16,000feet in 50 days = 320/day
Ann on 21/02 was pretty much on schedule at 11,350 = to get to 14,000 would be another 8 days.

Shouldn't expect anything until 1st or 2nd of March - for someone who wasn't holding as at 22/02 I'm not sure why the concern.


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## adobee

*Re: QPN - Quest Petroleum*

People definetly taking interest in this one today.. up 20% not huge volume but picking up pretty quickly..  Hopefully they are buying on some sort of knowledge of the results to come and it is going to be a huge as I have been waiting a while now and was expecting a run up much earlier..   Might just be gambles getting in before new early next week.. Anway continuing to hold and see..


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## Magic Man

*Re: QPN - Quest Petroleum*

Likewise Adobee.. nice little run today!


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## adobee

*Re: QPN - Quest Petroleum*

QPN  TNP & TSV  being the ASX stocks who have an interest in the Amazon well are all up between substanially..


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## warrenatk

*Re: QPN - Quest Petroleum*



adobee said:


> QPN  TNP & TSV  being the ASX stocks who have an interest in the Amazon well are all up between substanially..




http://www.asx.com.au/asxpdf/20110221/pdf/41wx2hl8dzxsr0.pdf

for anyone who wants to find out more.

IMO these shares will show some decent improvement this week, with the news of this.


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## Magic Man

*Re: QPN - Quest Petroleum*

HMM still no announcement. Waiting patiently...


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## adobee

*Re: QPN - Quest Petroleum*

just make sure that you are prepared that they could announce that we have dug a hole and there is nothing in it .. and the share price turns to zip .. there probability on this was around 30%   that being said on time lines stated 50 days (if all is going well and this includes weekends) is about 7th of March .. Would like some update though once they are at 14,000


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## Magic Man

*Re: QPN - Quest Petroleum*



adobee said:


> just make sure that you are prepared that they could announce that we have dug a hole and there is nothing in it .. and the share price turns to zip .. there probability on this was around 30%   that being said on time lines stated 50 days (if all is going well and this includes weekends) is about 7th of March .. Would like some update though once they are at 14,000




Yea agree mate. Hopefully we find something, even if its small.


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## warrenatk

*Re: QPN - Quest Petroleum*

they cased to 11,629 liner to 12,258

and we are still drilling .for mega gas 

Qpn is still drilling and an update is forecasted for the 8th.. 

I have alot of qpn and even more qpno's opppppies!!!


Let the good times roll this week! And more so next week!!


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## asx256

*Re: QPN - Quest Petroleum*

just got an email from a friend back in the usa. the news is not good. looks like they have got W!


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## brickwalls

*Re: QPN - Quest Petroleum*



asx256 said:


> just got an email from a friend back in the usa. the news is not good. looks like they have got W!




So please explain "W",  I realise a tornado has done severe damage 20 miles East of the Rig, would your friend have been caught up in that?  I hope not with 50 injured and 1 dead.  If it's to do with the Arran [Amazon] Rig could, you please expand on your comment?


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## philly

*Re: QPN - Quest Petroleum*

W = water?? I'd be surprised if that was the case especially given the seismic reports regarding the well


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## adobee

*Re: QPN - Quest Petroleum*



asx256 said:


> just got an email from a friend back in the usa. the news is not good. looks like they have got W!




care to elaborate ?? Who is your friend, is he working on the Drill Rig ? 
Big call seeing the company hasnt announced anything, would have thought that if he was emailing people you would have seen a dumping of the share price this morning ...


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## warrenatk

*Re: QPN - Quest Petroleum*



adobee said:


> care to elaborate ?? Who is your friend, is he working on the Drill Rig ?
> Big call seeing the company hasnt announced anything, would have thought that if he was emailing people you would have seen a dumping of the share price this morning ...




there is no water, there was a major storm nearby but no damage was done at all.

We should we an ANN Monday next week at the currently drilling rate.


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## asx256

*Re: QPN - Quest Petroleum*



warrenatk said:


> there is no water, there was a major storm nearby but no damage was done at all.
> 
> We should we an ANN Monday next week at the currently drilling rate.




sorry couldn't get back to you guys any time sooner. had to wait for a reply from him. every thing is OK now, he was talking about the big storm. apparently it is sunny now!


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## Magic Man

*Re: QPN - Quest Petroleum*

Hahah ASX i had my heart in my mouth when i read your post last night.. If u dont mind me asking who is your friend in the USA.. what ties does he have with the project?


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## asx256

*Re: QPN - Quest Petroleum*



Magic Man said:


> Hahah ASX i had my heart in my mouth when i read your post last night.. If u dont mind me asking who is your friend in the USA.. what ties does he have with the project?




The guy is a director of a company which operates oil rigs in Louisiana (nothing to do with Caza's operations).
I have been in contact with him for several months now, getting some info on companies operating in the area. He said if CAZA come up with the goods, it will be the biggest find in the area for the past 3 years or so. Other than that he doesn’t have any more information.


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## BrightGreenGlow

*Re: QPN - Quest Petroleum*



asx256 said:


> The guy is a director of a company which operates oil rigs in Louisiana (nothing to do with Caza's operations).
> I have been in contact with him for several months now, getting some info on companies operating in the area. He said if CAZA come up with the goods, it will be the biggest find in the area for the past 3 years or so. Other than that he doesn’t have any more information.




2 days past the 7th now for that update.. Fingers crossed, if we didn't include non-business days when does should this announcement occur?


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## adobee

*Re: QPN - Quest Petroleum*

I believe that all companies involved tnp caza etc have to give the go ahead for news to be released and this could be somewhat the cause for delay.. I have tried to call twice to see if there is any update but got no update..


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## warrenatk

*Re: QPN - Quest Petroleum*

ANN out this morning about 3-7days untill we hit the motherload!!!!

and also i just snapped up alot at .015! whohooo


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## Magic Man

*Re: QPN - Quest Petroleum*



warrenatk said:


> ANN out this morning about 3-7days untill we hit the motherload!!!!
> 
> and also i just snapped up alot at .015! whohooo




The market didnt react to this announcement and yeah one more week until failure or motherload.... Ill be watching this carefully.


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## adobee

*Re: QPN - Quest Petroleum*

very slow drilling imo ..
will sit and wait.. considering taking out tnpo instead of current holding of qpn .. see whats happening early next week ..


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## chance

*Re: QPN - Quest Petroleum*



adobee said:


> very slow drilling imo ..
> will sit and wait.. considering taking out tnpo instead of current holding of qpn .. see whats happening early next week ..




not much interest on the heads of tnp or much chat,same with tsv chat wise i think eveyone is just watching qpn threads they are going nuts reminds me of an old dog gdn days


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## BrightGreenGlow

*Re: QPN - Quest Petroleum*

New well testing due between March 18th - 21st.... hopefully it is a motherload... any idea guys? This forum topic has gotten dead? Did everyone sell out?


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## gsnz1

*Re: QPN - Quest Petroleum*



BrightGreenGlow said:


> New well testing due between March 18th - 21st.... hopefully it is a motherload... any idea guys? This forum topic has gotten dead? Did everyone sell out?




Still here BGG, not much to say or research now. I've checked everything I possibly can and need the answers from the drillbit now. Just waiting for the announcements. Should be anyday hopefully as they are drilling in the zones that count as I type.

The announcements all the way from the start have implied the companies are very confident of finding some form of HC's so I am eagerly optimistic.

 It must be hard being a Caza shareholder, they dont seem to give updates at all other than spud and TD and testing.  

I think the ST price will be influenced by the oppies expiry. Part of me wants the investors that have held the oppies LT to get them over the line (for the good of the little Aussie battler Company) and part of me wants them to expire so it does not dilute the MC (little Kiwi battler ie ME). How much will it affect the ST price if the oppies are exercised?


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## Magic Man

*Re: QPN - Quest Petroleum*

Will tomorrow be the day the company announces some results???


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## ChessPlayer

*Re: QPN - Quest Petroleum*



Magic Man said:


> Will tomorrow be the day the company announces some results???




It should be.


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## BrightGreenGlow

*Re: QPN - Quest Petroleum*



ChessPlayer said:


> It should be.




Going by their announcements and average progress the 16,000 ft 3 days ago.. so hopefully an announcements this week


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## Magic Man

*Re: QPN - Quest Petroleum*

TRADING HALT along with there partners..


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## warrenatk

*Re: QPN - Quest Petroleum*

whoohoooo, im excited.... hopefully we see ANN by Tues...!!!

Looks like my QPNO's might still be in play!


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## BrightGreenGlow

*Re: QPN - Quest Petroleum*

Fingers crossed.... any profit will be a good profit from this thing  I guess no one has much info on the anticipated results? Any factors or feelings towards what we might see and related SP jumps or tumbles?


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## gsnz1

*Re: QPN - Quest Petroleum*



BrightGreenGlow said:


> Fingers crossed.... any profit will be a good profit from this thing  I guess no one has much info on the anticipated results? Any factors or feelings towards what we might see and related SP jumps or tumbles?




i'll be happy with 4c on a positive announcement, dont hold much hope if its a duster. In the lap of the gods now so what will be will be. Interesting to note Caza is trading as usual today and no update from them. They operate a very tight ship and full credit to them for that.


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## Trevoru

*Re: QPN - Quest Petroleum*



gsnz1 said:


> i'll be happy with 4c on a positive announcement, dont hold much hope if its a duster. In the lap of the gods now so what will be will be. Interesting to note Caza is trading as usual today and no update from them. They operate a very tight ship and full credit to them for that.




Not a lot of action with Caza SP overnight - I would have thought something more on the back of our TH.

Seems that most of us have looked to Caza for some direction, but are we reading too much into thier SP - any thoughts?
TU


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## warrenatk

*Re: QPN - Quest Petroleum*

Hopefully we see some ANN from CAZA in the UK, only 50Min untill its 7AM, every ANN has been at 7am.. Seeing how Caza is the big company controling this, as soon as we see some sort of ANN its go go rockets go go! 

http://www.bloomberg.com/apps/quote?ticker=CAZA:LN
http://www.lse.co.uk/SharePrice.asp?shareprice=CAZA&share=caza_oil_&_gas


I'm currently holding QPN and QPNO's, enjoying this ride!


----------



## Trevoru

*Re: QPN - Quest Petroleum*

Unfortunately it's Plug & Abandon - not the good news we were all hoping for.


----------



## BrightGreenGlow

*Re: QPN - Quest Petroleum*

March 22, 2011

Caza Oil & Gas, Inc.



                CAZA OIL & GAS PROVIDES AN OPERATIONAL UPDATE

                    ON ARRAN PROSPECT/MARIAN BAKER #1 WELL



HOUSTON, TEXAS (Marketwire - March 22, 2011) - Caza Oil & Gas, Inc. ("Caza" or
the "Company") (TSX:  CAZ) (AIM:  CAZA) has  announced today  that the  Marian 
Baker #1 well (the "Well") on the Arran prospect in Acadia Parish,  Louisiana, 
was drilled to a total depth of 15,462 feet on March 20, 2011.



Caza has  analyzed  data  collected  from the  Well.   Although  several  sand 
sections exist  throughout  the wellbore,  the  log data  indicates  that  the 
targeted Middle  Frio section  between 12,500-15,462  feet has  extremely  low 
porosity and permeability.   The shallower  sands in the  Upper Frio  sections 
between 9,600-12,200  feet,  which produce  in  the immediate  area  from  the 
Midland Field, appear to be wet at this location.  However, based on log data,
the Company  has  reason to  evaluate  these shallower  sands  for  additional 
potential across its current  acreage block.  After  determining that none  of 
the sands are  likely to be  productive at commercial  rates, the Company  has 
sought approval  from  its partners  in  the Well  to  proceed with  plug  and 
abandonment procedures.



Caza had a 25%  working interest before  casing point in  the Marian Baker  #1 
well.  The Well was drilled on time and within the estimated dry hole costs.



Following its release  of yearend  reporting documents later  this week,  Caza 
will be making further operational announcements in the near future  regarding 
plans for its other projects including: Bongo/O.B. Ranch development,  Windham 
Wolfberry development and additional  exploratory projects (including  updates 
on our future south Louisiana projects such as Tiree and Lewis).



Mike Ford, Chief Executive Officer of the Company, commented:



"Although results  on  the Marian  Baker  #1  well are  disappointing,  it  is 
important to note that because very little subsurface data exists in this area
at these depths, Caza expects that the data collected while drilling the  well 
will be valuable as we  define additional high-value exploration prospects  in 
this area.   Additionally,  the  Company will  continue  using  a  significant 
portion of the funds from the equity raise in November 2010 on development and
exploratory drilling in 2011.  Our cash reserves should have the Company  well 
placed to execute a strategy of revenue and reserve growth throughout 2011."

Well we all lose our money haha


----------



## Magic Man

*Re: QPN - Quest Petroleum*



BrightGreenGlow said:


> March 22, 2011
> 
> Caza Oil & Gas, Inc.
> 
> 
> 
> CAZA OIL & GAS PROVIDES AN OPERATIONAL UPDATE
> 
> ON ARRAN PROSPECT/MARIAN BAKER #1 WELL
> 
> 
> 
> HOUSTON, TEXAS (Marketwire - March 22, 2011) - Caza Oil & Gas, Inc. ("Caza" or
> the "Company") (TSX:  CAZ) (AIM:  CAZA) has  announced today  that the  Marian
> Baker #1 well (the "Well") on the Arran prospect in Acadia Parish,  Louisiana,
> was drilled to a total depth of 15,462 feet on March 20, 2011.
> 
> 
> 
> Caza has  analyzed  data  collected  from the  Well.   Although  several  sand
> sections exist  throughout  the wellbore,  the  log data  indicates  that  the
> targeted Middle  Frio section  between 12,500-15,462  feet has  extremely  low
> porosity and permeability.   The shallower  sands in the  Upper Frio  sections
> between 9,600-12,200  feet,  which produce  in  the immediate  area  from  the
> Midland Field, appear to be wet at this location.  However, based on log data,
> the Company  has  reason to  evaluate  these shallower  sands  for  additional
> potential across its current  acreage block.  After  determining that none  of
> the sands are  likely to be  productive at commercial  rates, the Company  has
> sought approval  from  its partners  in  the Well  to  proceed with  plug  and
> abandonment procedures.
> 
> 
> 
> Caza had a 25%  working interest before  casing point in  the Marian Baker  #1
> well.  The Well was drilled on time and within the estimated dry hole costs.
> 
> 
> 
> Following its release  of yearend  reporting documents later  this week,  Caza
> will be making further operational announcements in the near future  regarding
> plans for its other projects including: Bongo/O.B. Ranch development,  Windham
> Wolfberry development and additional  exploratory projects (including  updates
> on our future south Louisiana projects such as Tiree and Lewis).
> 
> 
> 
> Mike Ford, Chief Executive Officer of the Company, commented:
> 
> 
> 
> "Although results  on  the Marian  Baker  #1  well are  disappointing,  it  is
> important to note that because very little subsurface data exists in this area
> at these depths, Caza expects that the data collected while drilling the  well
> will be valuable as we  define additional high-value exploration prospects  in
> this area.   Additionally,  the  Company will  continue  using  a  significant
> portion of the funds from the equity raise in November 2010 on development and
> exploratory drilling in 2011.  Our cash reserves should have the Company  well
> placed to execute a strategy of revenue and reserve growth throughout 2011."
> 
> Well we all lose our money haha





lol.. i knew it was a dog. I should have known better.


----------



## ChessPlayer

*Re: QPN - Quest Petroleum*

hey guys, as a newbie what would you say the course of action is now? I had a small sum in QPN, do we sell at pre-open market value? hold a couple weeks and sell then? also any predictions as to what it will open at tomorrow?

thanks.


----------



## Magic Man

*Re: QPN - Quest Petroleum*



ChessPlayer said:


> hey guys, as a newbie what would you say the course of action is now? I had a small sum in QPN, do we sell at pre-open market value? hold a couple weeks and sell then? also any predictions as to what it will open at tomorrow?
> 
> thanks.




Hey.. hmm no idea, but if i can get out with a 40 - 50 percent loss ill take it. I will be out tomorrow.. DYOR though.


----------



## adobee

*Re: QPN - Quest Petroleum*

that sux thats one way to drill a $5.5m money pit... thankfully I dumped a fair bit during Japan crisis trying to protect some capital so not overly exposed... this was a very high risk play unfortunately with no reward..  Result of price will really now depend on what people think of there other projects...Its not going to be pretty but I also dont think one duster is the end of the line for this company they do have other stuff going on.. 
check out the investor report ...

http://www.qpnl.com.au/images/stories/documents/2011-02-09 qpn presentation - february 2011 v2.pdf

Wont be selling on open.. wait and see how it plays out


----------



## Trevoru

*Re: QPN - Quest Petroleum*

Hi Adobee - good post and reminder of potential upside for QPN - they don't appear to have done anything wrong with Amazon and had excellent support from Caza as a fair indication of the potential.
Time to sit back and see what they do now - hopefully something postive to look forward to, but if they don't explore and drill they can't find anything.
Important to remember that shares such as QPN are always done at our risk - there are plenty of worse companies out there.
Cheers and good luck to all they stay in for the future.
TU.


----------



## Chasero

*Re: QPN - Quest Petroleum*

Yes, this showed up on my trading list.

7 months of sideways trading, and huge spike in volume.

Probably oversold speccy after last oil find failed. Explains why so many orders are in at 0.005.


----------



## hangseng

*Re: QPN - Quest Petroleum*



Chasero said:


> Yes, this showed up on my trading list.
> 
> 7 months of sideways trading, and huge spike in volume.
> 
> Probably oversold speccy after last oil find failed. Explains why so many orders are in at 0.005.




Don't confuse the "old" QPN with the "new" QPN...


The "old" QPN was "oversold for good reason. 

Now has been bought out by Prabu Energy and has a new board and management along with a completely new direction in the oil and gas rich region of South East Sumatra, with the newly acquired Ranau PSC covering 2,191km² of the prolific South Sumatra Basin.

New management:

*Directors*


*John (Gus) Simpson

Chairman*

 Mr Simpson brings an extensive range of corporate and commercial expertise to the company. He is currently Executive Chairman of Peninsula Energy Limited a Wyoming focused energy developer and he has over 20 years experience in the management of companies with international operations.

*Saxon Palmer

Technical Director*

Mr Palmer is a geologist with over 20 years of experience and has appraised oil & gas opportunities in most of the major gas basins in the world.  He has held senior management positions with BP and BHP Billiton and was most recently Exploration Manager (Australia/Asia) for BHP Billiton. Mr. Palmer brings extensive technical oil and gas expertise to the Board.

*Brett Mitchell

Non-Executive Director*

Mr Mitchell has worked for both private and publicly listed entities for the past 18 years as a corporate finance executive.  He holds a Bachelor of Economics degree from the University of Western Australia and has specific experiance in the financial markets and resources sectors and is a member of the Australian Institute of Company Directors (ACID).  Mr Mitchell is currently a director of Transerv Energy Ltd, Wildhorse Energy Ltd, Tamaska Oil and Gas Ltd and Clean Global Energy Ltd.

*Greg Lee

Non-Executive Director*

Mr Lee is a highly experienced petroleum engineer with 28 years of experience in oil and gas field development and management, petroleum/production engineering and drilling operations. Mr Lee operates as an independant consultant petroleum engineer to major oil and gas companies. Mr Lee is currently director of Verus Investments Ltd.


You will soon hear a lot more of Mochamad Thamrin...
http://www.asx.com.au/asxpdf/20110922/pdf/4217p4k0y6yg95.pdf


----------



## hangseng

*Re: QPN - Quest Petroleum*

LOL...here I go again chatting to myself ;-)


Enjoy...link below for full details.

*GREEN* for go?


*Short Term Indicators Average: 100% Buy

Medium Term Indicators Average: 100% Buy

Long Term Indicators Average: 67% Buy

Overall Average: 96% Buy*

http://www.barchart.com/opinions/stocks/qpn.AX


Ava good weekend!


----------



## mr. jeff

*Re: QPN - Quest Petroleum*

HS saw that today and was kicking myself as I have been watching that volume coming in. Will see whether interest runs into next week and may look for an entry but such a tiddler!





Your updates are appreciated.

Cheers.


----------



## newanimal

*Re: QPN - Quest Petroleum*

impressive new management team, vast hydrocarbon rich territory scantily  explored, shale tech energy revolution on the rise, seven months ground crawling showing signs of waking, optimal leverage...all boxes checked. my favorite trade profile. 

holding @ .005


----------



## basilio

*Re: QPN - Quest Petroleum*

This does look very exciting. The concessions seem to be in a very promising area. The drills are easy, cheap and quick. The market is very close so development costs will be  reasonable.

The new Boards talent looks exceptional and well suited for the location. And at .006 cents the leverage potential is enormous. It's currently valued at $12m and I think any sort of strike would cause an instant revaluing.

I'm in.


----------



## Chasero

*Re: QPN - Quest Petroleum*

Got in this morning @ 0.006.

43mill shares bought this morning before 10:30am. Volume looking strong.

Looking for a break @ 0.006 with high volume. if it Closes @ 0.007 very bullish


----------



## kiril

*Re: QPN - Quest Petroleum*

Someone wanted some stock this morning...thats for sure.

Good announcement this afternoon.

3 wells for us to sweat over.

Such a small market cap, if enough people find out about who is involved here....and they will, who knows how big this will get.

The only down side for me is the potential cr and at what price????

Kiril.

I hold.


----------



## Chasero

*Re: QPN - Quest Petroleum*

They are to deploy a drilling rig by 30 June 2012. Should stir up some interest. 

Finally QPN moving in the right direction.


----------



## hangseng

*Re: QPN - Quest Petroleum*



Chasero said:


> Got in this morning @ 0.006.
> 
> 43mill shares bought this morning before 10:30am. Volume looking strong.
> 
> Looking for a break @ 0.006 with high volume. if it Closes @ 0.007 very bullish





If it wasn't for the manipulation od the sp at closing auction for b'all shares it would have easily closed at 7. The buying was strong into 7 in the afternoon session.

Great day in the park today with over 75m volume today and over 74m volume just 7 days ago.

No surprises here and it has only just begun... 

Thamrin's appointment is much more significant than most realise. Except for Indonesian investors and expats here that keep an eye on things.


----------



## Chasero

*Re: QPN - Quest Petroleum*



hangseng said:


> If it wasn't for the manipulation od the sp at closing auction for b'all shares it would have easily closed at 7. The buying was strong into 7 in the afternoon session.
> 
> Great day in the park today with over 75m volume today and over 74m volume just 7 days ago.
> 
> No surprises here and it has only just begun...
> 
> Thamrin's appointment is much more significant than most realise. Except for Indonesian investors and expats here that keep an eye on things.




I missed what happened this afternoon..

How did 0.007 get wiped so easily??

Anyway, another nice volume day for QPN. Has easily broken out @ 0.006 with lots of trades between 0.007 and 0.006 for 2 days then wam O.O

Oh.. went to HC.

Someone bought out 35m shares.. wow.


----------



## Chasero

*Re: QPN - Quest Petroleum*

Wow, been a really good yr for me.

Firstly NDO, then THR, now QPN!!

So happy it seems to have broken out today. Touching 0.009.


----------



## mr. jeff

*Re: QPN - Quest Petroleum*

Have noted the positive action in QPN, quite good so far.

Chasero-
Why don't you let us know what the next one to follow is so that I can make some money instead of dispersing it to others.


----------



## Chasero

*Re: QPN - Quest Petroleum*

jeff, i've been posting in this thread since qpn was 0.005!!

Same with NDO! lol

too bad asf doesnt have a thread for THR??

Note: I also make losses, CAP, NST to name a few.. (though I am still happy to hold)


----------



## Joe Blow

*Re: QPN - Quest Petroleum*



Chasero said:


> too bad asf doesnt have a thread for THR??




Here's the THR thread: https://www.aussiestockforums.com/forums/showthread.php?t=4520


----------



## Chasero

*Re: QPN - Quest Petroleum*

Wow, 0.008, 0.009 and now it looks like 0.01 is going to be wiped today 

170m++ shares traded. Im guessing it's going to run to at least 1.5 next week with this amount of volume behind it. (All IMO)

Happy to hold.


----------



## hangseng

*Re: QPN - Quest Petroleum*



Chasero said:


> Wow, 0.008, 0.009 and now it looks like 0.01 is going to be wiped today
> 
> 170m++ shares traded. Im guessing it's going to run to at least 1.5 next week with this amount of volume behind it. (All IMO)
> 
> Happy to hold.




Yes this is amasing, now over 214,000,000 and still going.

I bought in for the medium term potential of this but what is happening over the last few days has me in awe and very surprised. Still waiting for confirmation of drill and 2D seismic dates and most likely a few months away yet. 

Definitely the potential of the Ranau PSC is rather significant, so I can only assume it is because of that. I know a few expats that have been buying but nothing like the volumes here of late.

My only regret not buying at 3 when I first started to research Ranau last year. Not complaining though, very pleased to see this happening.


----------



## explod

*Re: QPN - Quest Petroleum*

Thanks to an alert by another ASF'r awhile back, I took a position at .006, and top up at .009 today.

The story in Indonesia looks like a prospect with possibilities and the current action would suggest some more upside perhaps in the short term.


----------



## Chasero

*Re: QPN - Quest Petroleum*

I sold out today... 

Don't want to be trapped due to a capital raising. 

Already in too much profits to not protect it. Knowing I always sell out wayyy before I am meant to, I bet QPN will finish at like 0.014 and I will have missed about another 30% LOL


----------



## mr. jeff

*Re: QPN - Quest Petroleum*

HS I don't know whether this is your review or not but there is a broker report out from Halifax Investment Services on the website under analyst coverage.

Quite positive on prospects for further developments with new leases and further exploration, plus fanfare about the new man on the job, and Gus.

Good move today and continuing the run on medium to high volume but with a slight sell off to be expected at the Friday end and possibly also due to that 1c level which may take a few revisits.


----------



## Chasero

*Re: QPN - Quest Petroleum*



mr. jeff said:


> HS I don't know whether this is your review or not but there is a broker report out from Halifax Investment Services on the website under analyst coverage.
> 
> Quite positive on prospects for further developments with new leases and further exploration, plus fanfare about the new man on the job, and Gus.
> 
> Good move today and continuing the run on medium to high volume but with a slight sell off to be expected at the Friday end and possibly also due to that 1c level which may take a few revisits.




Jeff, have you had a look into AZH and NDO? Might want to revisit.

I still think QPN has a while to run yet. I should have left a free carry in QPN but got too nervous >_>''

Too much greed in jumping to AZH/PEK/NDO and PRR today


----------



## kiril

*Re: QPN - Quest Petroleum*



Chasero said:


> I sold out today...




Why would you do that with so much potential and such a small market cap?

Why not just sell out your initial outlay and remain free carried for all the upside we are going to see here over the next few months?

I am still buying, I guess I need sellers like yourself to feed the supply.

Best of luck with your profits.

As they say you wont go broke taking profit.

Kiril.

I hold


----------



## explod

*Re: QPN - Quest Petroleum*

On the chart it has jumped a lot on price/volume.  If the strength remains through Monday could be a reasonable punt.

Some resistance going back on the longer term but a break through .012 could see next target around .017/8

Any thoughts tech.

http://bigcharts.marketwatch.com/ad...=1/4/1999&enddate=6/29/2011&freq=2&compidx=aa


----------



## hangseng

*Re: QPN - Quest Petroleum*



mr. jeff said:


> HS I don't know whether this is your review or not but there is a broker report out from Halifax Investment Services on the website under analyst coverage.
> 
> Quite positive on prospects for further developments with new leases and further exploration, plus fanfare about the new man on the job, and Gus.
> 
> Good move today and continuing the run on medium to high volume but with a slight sell off to be expected at the Friday end and possibly also due to that 1c level which may take a few revisits.




No that is not my review mr jeff.

However it is very encouraging as it confirms my own findings. The information available from USGS, BPMIGAS in Jakarta, Universitas Gajah Mada in Yogyakarta and Trisakti Universitas Jakarta is all supporting this as a potentially significant location.

It will be interesting to see what comes of the now brought forward first drilling in June. All based on the joint study by Trisakti and Prabu Energy. Unfortunately the joint study isn't publicly available apart from what is released that report and by QPN recently.

I wait and see.


----------



## Chasero

*Re: QPN - Quest Petroleum*



explod said:


> On the chart it has jumped a lot on price/volume.  If the strength remains through Monday could be a reasonable punt.
> 
> Some resistance going back on the longer term but a break through .012 could see next target around .017/8
> 
> Any thoughts tech.
> 
> http://bigcharts.marketwatch.com/ad...=1/4/1999&enddate=6/29/2011&freq=2&compidx=aa




Traders are looking to see if 0.12 breaks then taking positions, or looking for a retrace.

I am in again today as I believe in the story 

Don't have time to look at the screen all day.


----------



## newanimal

*Re: QPN - Quest Petroleum*



Chasero said:


> I am in again today as I believe in the story



 I too exited and entered (@.01) for same reasons. Looks like a healthy consolidation zone here.  If  it breaks soon plenty of upside potential moving into June drilling. Happy to be back in with a little cost of commission.


----------



## Chasero

*Re: QPN - Quest Petroleum*



newanimal said:


> I too exited and entered (@.01) for same reasons. Looks like a healthy consolidation zone here.  If  it breaks soon plenty of upside potential moving into June drilling. Happy to be back in with a little cost of commission.




I have taken most of my position out.

They need a C/R prior to June, and I don't want to be caught out. Too risky for me. 1.1 couldn't break, although it may break this week. 

Even though QPN MAY reach 1.3 or 1.4 prior to capital raising, don't want to be trapped long on this one.


----------



## newanimal

*Re: QPN - Quest Petroleum*

ahhhhh yes... there are those. Man,  a guy can't get any decent shut eye round here. no nap'n on the watch they say


----------



## Chasero

*Re: QPN - Quest Petroleum*



newanimal said:


> ahhhhh yes... there are those. Man,  a guy can't get any decent shut eye round here. no nap'n on the watch they say




In my experience, i ALWAYS sell out too early.

I will lose no sleep though if I see QPN at 1.4c. I will not chase.

Buy the capital raising dilution imo.


----------



## Purd2

*Re: QPN - Quest Petroleum*

Chasero, please do your self a favour and do some research/study or something because you are going to leave money for others to pick up with your attitude and inexperience. I shudder to think. I am not having a go at you I am worried for you. Cheers P.


----------



## mr. jeff

*Re: QPN - Quest Petroleum*



hangseng said:


> No that is not my review mr jeff.
> 
> However it is very encouraging as it confirms my own findings. The information available from USGS, BPMIGAS in Jakarta, Universitas Gajah Mada in Yogyakarta and Trisakti Universitas Jakarta is all supporting this as a potentially significant location....




That was tongue in cheek as it was quite similar to your recent informative posts.
I am not skeptical enough however, to suggest that broker reports would scour the forums for information that they can then follow up on.   !


----------



## Chasero

*Re: QPN - Quest Petroleum*



Purd2 said:


> Chasero, please do your self a favour and do some research/study or something because you are going to leave money for others to pick up with your attitude and inexperience. I shudder to think. I am not having a go at you I am worried for you. Cheers P.




What do you mean research/study?

I have done over 500 trades over the past year so I don't think that is inexperience.

My % win is not great but I have been in a steady profit and I know when to exit trades according to MY trading strategy. 

Just because I have exited QPN and 'left money for others to pick up'.. not even sure how to respond to that.


----------



## basilio

*Re: QPN - Quest Petroleum*

"No one ever went broke taking a profit"  Unknown- universal truth.

Purd 2 Chaseroo shares more research and ideas and most other posters in this forum.  And most seem to bear fruit.If you want to make a buck I suggest you keep on this tail. 

Cheers


----------



## Purd2

*Re: QPN - Quest Petroleum*

No thanks.


----------



## Chasero

*Re: QPN - Quest Petroleum*

Entered at 0.006. Exited at 0.011. Entered at 0.01. Exited at 0.01.

Pretty good trade imo. Won't chase any higher. 

Don't know why everyone's getting worked up. And no, I don't follow particular members on ASF.


----------



## hangseng

*Re: QPN - Quest Petroleum*



Chasero said:


> I have taken most of my position out.
> 
> They need a C/R prior to June, and I don't want to be caught out. Too risky for me. 1.1 couldn't break, although it may break this week.
> 
> Even though QPN MAY reach 1.3 or 1.4 prior to capital raising, don't want to be trapped long on this one.




You are misinformed. Yes they will eventually have to do so but they have no _"need to"_ as you wrongly state. If you understood the low cost of drilling and labour in Indonesia compared to Australia you would realise you have made an error in judgement.

You certainly didn't _"believe in the story"_ for long. If simply trading in and out why not just say so, nothing wrong with trading. But don't make assumptions and statements that aren't factual.

They may or may not do a CR prior to June, but they don't "_need to_" as you wrongly stated. They will need to before the year is out though.

Also I have done the opposite to you, as I truly _"believe in the story". _I bought a load more shares as the new management has a known history of doing CR's including all shareholders, not just to a select few. If they do so again I intend to take part and increased my position significantly to enable a decent slice of the pie, and any free oppies that may come out of it. If they don't and only do to SI's then I will hopefully be inline for a slice.

Each to their own though, so good luck.

ps. 
Purd gave you some good advice, you don't have to take any notice but that would also be a mistake IMO.


----------



## Chasero

*Re: QPN - Quest Petroleum*



hangseng said:


> You are misinformed. Yes they will eventually have to do so but they have no _"need to"_ as you wrongly state. If you understood the low cost of drilling and labour in Indonesia compared to Australia you would realise you have made an error in judgement.
> 
> You certainly didn't _"believe in the story"_ for long. If simply trading in and out why not just say so, nothing wrong with trading. But don't make assumptions and statements that aren't factual.
> 
> They may or may not do a CR prior to June, but they don't "_need to_" as you wrongly stated. They will need to before the year is out though.
> 
> Also I have done the opposite to you, as I truly _"believe in the story". _I bought a load more shares as the new management has a known history of doing CR's including all shareholders, not just to a select few. If they do so again I intend to take part and increased my position significantly to enable a decent slice of the pie, and any free oppies that may come out of it. If they don't and only do to SI's then I will hopefully be inline for a slice.
> 
> Each to their own though, so good luck.
> 
> ps.
> Purd gave you some good advice, you don't have to take any notice but that would also be a mistake IMO.




It was my understanding that they needed 6m to deploy the rigs needed for the June drilling.

They have considerably less in cash at bank atm.

That was what I understood from that report release. I am wrong on many occasions, and may well be wrong again.

Best of luck to you.

I actually DO believe in the story. But I have profits to protect and will protect it if I believe I can buy in cheaper and safer at a later time. All IMO.

I am sorry if my 'attitude' or 'inexperience' comes across in the wrong way. I am quite young and am still learning.


----------



## hangseng

*Re: QPN - Quest Petroleum*



Chasero said:


> It was my understanding that they needed 6m to deploy the rigs needed for the June drilling.
> 
> They have considerably less in cash at bank atm.
> 
> That was what I understood from that report release. I am wrong on many occasions, and may well be wrong again.
> 
> Best of luck to you.
> 
> I actually DO believe in the story. But I have profits to protect and will protect it if I believe I can buy in cheaper and safer at a later time. All IMO.
> 
> I am sorry if my 'attitude' or 'inexperience' comes across in the wrong way. I am quite young and am still learning.




The above mentioned broker research report _suggested_ they may need 6m this year to complete the drilling program. Neither they nor the company stated they need it by June. They actually don't need it by June to commence the drilling and 2D seismic program.

You have also overlooked other options that could present themselves. Such as a farm in arrangement similar to that of NWE, resulting in NWE being free carried into a major program.

With oil and gas it isn't always a CR, accurate research goes a long way when making decisions. It seems you jumped in and out very quickly on a whim...based on wrong information.


----------



## basilio

*Re: QPN - Quest Petroleum*

I think there are many shades of grey in analysing stocks and their capacity to rise or fall. In many cases  the rise and fall of stocks is totally unrelated to what  is actually happening on the ground.

From my observations short term trading is about identifying a particular reason why a share might rise/fall in a few days or weeks and making a profit on that event. It could be the run up to a drill, an announcement or probably just a well  planned pump and dump.  *In the short term all that matters is making a buck on the trade regardless of the intrinsic value of the business.*

Hangseng may well be correct in suggesting that QPN has a very bright future. But when dealing with the small mining stocks almost all of the money is made from trading shares, setting up the companies  or promoting them. In my view it is a big casino..


----------



## hangseng

*Re: QPN - Quest Petroleum*



basilio said:


> In my view it is a big casino..




Not to much argument there, except I don't go to the casino, I leave that for dice throwers.

Being on the right side of knowledge and in front of the pack instead of chasing stocks reduces risk greatly. Takes time in researching data, but it takes the "casino" and emotional knee jerk reactions out of the decision making.

With me it is simple they either have something or they don't. If they don't I move on, if they do I take a position provided the entry point is to my liking technically. That massive gap above QPN made this an easy decision when it was unloved and flatlining. The FA was telling me it was a screaming buy, the TA told me nobody was watching.

Far from a casino decision.

Also to be quite candid, the sceptic in me tells me there could possibly be a pre-CR pump when the time comes. Safe to say I believe we have all seen this on occasions. It may or may not happen but let's see once drilling commences and they strike gas. The latter is highly probable at Ranau, just a matter of how much they hit and it certainly would help things along. 

I have seen some valuation outcomes done on QPN and disregarding the massive upside, the mkt cap should be at least $40m on what they have in hand now. If they strike gas as expected then the numbers are mind boggling for a minnow like QPN. I will try to dig up some information on this from those doing these valuations and post here. 

Although I know the figures being touted as a target sp, I won't post that until I can get more information to justify it. Suffice to say it would take a major gas strike such as that of nearby Pertamina has done recently, within 50kms of Ranau PSC.


----------



## Chasero

*Re: QPN - Quest Petroleum*



Chasero said:


> It was my understanding that they needed 6m to deploy the rigs needed for the June drilling.




Looks like with the no news, markets caught on and capital raising (if or if not) is priced in to the share price.

Possible re-entry at 0.005 or 0.006 looking more and more likely.

Been saying it for a while now, reasons why I have gotten out due to speculation on C/R... it's all a traders game and predicting what the markets WILL do in say 1-2 weeks from now.


----------



## Chasero

*Re: QPN - Quest Petroleum*



Chasero said:


> Looks like with the no news, markets caught on and capital raising (if or if not) is priced in to the share price.
> 
> Possible re-entry at 0.005 or 0.006 looking more and more likely.
> 
> Been saying it for a while now, reasons why I have gotten out due to speculation on C/R... it's all a traders game and predicting what the markets WILL do in say 1-2 weeks from now.




Bought some at 0.006 today.

Still have some left in buy queue at 0.005.. price is heavily discounted imo. 

100% retrace.. from 1.2 highs. Will see how it goes next few weeks, but I'm happy to hold.


----------



## hangseng

*Re: QPN - Quest Petroleum*

Answer to your query Chasero is yes.


----------



## basilio

*Re: QPN - Quest Petroleum*

Nice little run on QPN.  All the .006 shares taken out.

Must be getting close to drilling announcements.

If anything sizable does come up on these drills the leverage  on the SP has to massive given the low cap.


----------



## Fantasy09

*Re: QPN - Quest Petroleum*

A bit of a let down from the today's annoucement.  During the March 31 Quarterly Report it was announced that "the company's intention to *commence* drilling prior to June 30, 2012".  However, today's announcement "Quest Petroleum is currently *preparing* to drill its first exploration well".  Looks like they are falling behind schedule already


----------



## hangseng

*Re: QPN - Quest Petroleum*



Fantasy09 said:


> A bit of a let down from the today's annoucement.  During the March 31 Quarterly Report it was announced that "the company's intention to *commence* drilling prior to June 30, 2012".  However, today's announcement "Quest Petroleum is currently *preparing* to drill its first exploration well".  Looks like they are falling behind schedule already





Basically correct in what you state, except they don't actually have a schedule and have never announced one. All they announced was "the company's intention to commence". 

They have not engaged drill rigs as stated today so still no schedule. It is falling behind "the company's intentions" though.

Not surprisingly the Indonesian government (via the SME PT Pertamina) has announce the building of a new plant in Sth Sumatra. They are doing so in expectation of what is to come and what has already been found recently.

All I really want to know is how QPN intends to pay for the planned drilling. My recent findings show they will need at least US$5-6m, of which they don't have. That said they aren't amateurs and would have known this in the planning stage before the backdoor T/O of QPN and engaged the high profile Indonesian national Thamrin for good reason. It is just a matter of how they will raise the required funds. Will it be a CR or some other possible sharing arrangement as is so often done with drilling contractors?


There is no doubting there is gas in abundance and to a lesser extent oil in this region, it just remains to be seen how QPN will fund the planned operations. Indonesian demand for gas is insatiable, so they have a ready market already with a recently increased base price.


----------



## Chasero

*Re: QPN - Quest Petroleum*

Pretty obvious.

June passed. No drilling dates. Lack of cash to fund drilling on cash flow statement.

BANG - capital raising. Hopefully no one was caught unawares.


----------



## basilio

*Re: QPN - Quest Petroleum*

QPN is on the move. It seems that permission to drill is imminent and the market is moving in anticiaption of the spud and hopefully a good strike.

Proactive investors offers the latest news.
http://www.proactiveinvestors.com.a...nd-gas-well-with-bpmigas-approval--34543.html


----------



## Out Too Soon

*Re: QPN - Quest Petroleum*



basilio said:


> QPN is on the move. It seems that permission to drill is imminent and the market is moving in anticiaption of the spud and hopefully a good strike.
> 
> Proactive investors offers the latest news.
> http://www.proactiveinvestors.com.a...nd-gas-well-with-bpmigas-approval--34543.html




It's really annoying noticing a post like this then checking the chart & realising it's just a time-wasting ramp (embarrassing to even admit I was sucked in the thing is ~0.006 a share)


----------



## basilio

*Re: QPN - Quest Petroleum*



Out Too Soon said:


> It's really annoying noticing a post like this then checking the chart & realising it's just a time-wasting ramp (embarrassing to even admit I was sucked in the thing is ~0.006 a share)





Thats very rough Out too Soon. QPN is very much on the move with its plans to drill in Sumatra. As the article points out the regulatory authorities appear ready to give the go signal and QPN has all gear in place for a drill. The site is onland and a quick, cheap drill

This forum is about sharing information and giving everyone the opportunity to see things they might otherwise miss.  QPN is valued at $15m. Any decent gas or oil strike should give it a good boost.

(I do have an interest in QPN.)


----------



## Out Too Soon

*Re: QPN - Quest Petroleum*



basilio said:


> Thats very rough Out too Soon. QPN is very much on the move with its plans to drill in Sumatra. As the article points out the regulatory authorities appear ready to give the go signal and QPN has all gear in place for a drill. The site is onland and a quick, cheap drill
> 
> This forum is about sharing information and giving everyone the opportunity to see things they might otherwise miss.  QPN is valued at $15m. Any decent gas or oil strike should give it a good boost.
> 
> (I do have an interest in QPN.)




Sorry Basilio you're right,- a Fundamentalist made me grumpy & the next thing I looked at was the chart for QPN   I guess you're hoping for another AVQ (Axiom Mining). Good Luck


----------



## hangseng

*Re: QPN - Quest Petroleum*



basilio said:


> Thats very rough Out too Soon. QPN is very much on the move with its plans to drill in Sumatra. As the article points out the regulatory authorities appear ready to give the go signal and QPN has all gear in place for a drill. The site is onland and a quick, cheap drill
> 
> This forum is about sharing information and giving everyone the opportunity to see things they might otherwise miss.  QPN is valued at $15m. Any decent gas or oil strike should give it a good boost.
> 
> (I do have an interest in QPN.)




Drilling approval now in place, mobilisation of teams and equipment to site already underway for drilling in December. Today two directors taking up their rights with their own cash.

People can see this anyway they want. However with what is front of me regarding the Ranau PSC in the Sth Sumatra Basin I see this as a very high risk reward play. Already had one good run on QPN and this IMO will prove to be a far better one should they strike gas and/or oil as is expected. If they don't, it will be trounced on, nothing more certain.

They are also now in line for the direct offer of the adjoining highly prospective Bima Sakti PSC, closing date 27/11/2012. As they have the Indonesian national connection of Mochamad Thamrin of Prabu Energy (80% owned by QPN), they are also likely to receive priority consideration.


----------



## Miner

*Re: QPN - Quest Petroleum*

I was curious to find QPN and found the following :
One Director bought 1.6 cents share where as current share price is .007 to .008
Mr John Whyte has a name sake company secretary in PEN. It is however not uncommon to have companies part time contracted secretaries to fulfil the legal obligations
Mr John Simpson is CEO of PEN and Mr Jon Simpson (one H missing like Tintin's Thompson and Thomson ) is the Non Executive Chairman. 
I will watch QPN with interest however


----------



## basilio

*Re: QPN - Quest Petroleum*

Just received  the notice for the Annual General meeting.  The main activity is gaining permission for the Board to spread 117.5m performance rights across the Board as part of their renumeration package.  When the value of the company reaches a certain level ( $25 m,  45m ect to $500m) the rights turn into shares which are then given to the Board members.

Does anyone else have any opinions on this process and the figures given by QPN?


----------



## hangseng

*Re: QPN - Quest Petroleum*



basilio said:


> Just received  the notice for the Annual General meeting.  The main activity is gaining permission for the Board to spread 117.5m performance rights across the Board as part of their renumeration package.  When the value of the company reaches a certain level ( $25 m,  45m ect to $500m) the rights turn into shares which are then given to the Board members.
> 
> Does anyone else have any opinions on this process and the figures given by QPN?





As I openly stated with PEN, I am deadset against this for of "performance" bonus. It has, arguably, 3/5th's of B'all to do with sustainable performance of any company IMO. 

It should be based on completed "performance" like first commercial gas/oil shows, first delivery of gas/oil etc. 

I voted against it with PEN as I will here, not that it will make much difference the majority of shares are held by the recipients. 

I like the companies prospects, just against this form of remuneration.


----------



## urgalzmine

*Re: QPN - Quest Petroleum*

Hi all

Anyone still I this ?

This is an extract from annual report on 1st nov


The Company has now received the necessary approvals from the Indonesia Energy Regulator, BPMIGAS, to commence drilling at the first prospect, the Kayumanis-1 Well, in the highly prospective Komering Basin. The Company expects to execute the drilling contract shortly and has announced a targeted spud date for the first well of December this year.
*The Kayumanis-1 Lead Prospect is one of 16 leads indentified in the Ranau PSC with combined potential of up to 6Tcf gas and/or 300 mmbbl oil. The Kayumanis-1 lead Prospect potential alone is estimated at up to 59mmbbl or 340Bcf gas.*

Am I the only one that can see value here? 12million market cap, cap raising of about 2.5million at .006 and should have 5 million cash and about to announce drilling Dec targeting equivalent to 300million bbl oil ....?

Sounds like a good BESBs story?


----------



## basilio

*Re: QPN - Quest Petroleum*

Yes Urgal we are still in this....

When you check out the thread you will see that many punters (mistakenly) believed  June was lift off day for QPN.
It is now December and we are all waiting (im)patiently.

In theory a decent gas/oil strike should see a sharp rise in the SP. It would be great Christmas present. !!


----------



## urgalzmine

*Re: QPN - Quest Petroleum*

yes, Im very excited !


 Are you in it for the result of the drill? or are you waiting for the announcement of the start of the drill, ie BESBS?


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

Hi Urga,

Took your comment on the OXX thread, had a look at QPN, and have started to jump in. As you say, this has BESBS potential.
While there are no guarantees in this game and _the risk is exactly when will the drill start_, one can assume that it most likely will occur in Q1 2013 given regulatory approval and the timing of the CR. If this is the case, then there is much to recommend QPN as a BESBS (or into the drill) play:

* I am looking at a 1-3 month wait on a funded drill that is targetting an estimated  (up to) 59mmbbl or 340Bcf gas on the first drill. 
*The drill is a big target. This should attract some trader attention.
* The CR provides funds but importantly is placing a platform under the SP. 
* One can buy in at the CR price. This removes the risk of being caught holding more expensive stock if punters quickly unload SPP stock.
* The SP has moved between .009 and .012c upon speculation/action in the past. If the market holds, one can hope for a similar response. If so, a potential return of 50-100% is not out of the question.
* MC is relatively low for a drill this size.
* The SP is so low that the leverege is very significant at .006c entry.

As always, DYOR. That said, I am happy to be entering QPN and will continue to buy in the short term.

Holding at .006c




urgalzmine said:


> Hi all
> 
> Anyone still I this ?
> 
> This is an extract from annual report on 1st nov
> 
> 
> The Company has now received the necessary approvals from the Indonesia Energy Regulator, BPMIGAS, to commence drilling at the first prospect, the Kayumanis-1 Well, in the highly prospective Komering Basin. The Company expects to execute the drilling contract shortly and has announced a targeted spud date for the first well of December this year.
> *The Kayumanis-1 Lead Prospect is one of 16 leads indentified in the Ranau PSC with combined potential of up to 6Tcf gas and/or 300 mmbbl oil. The Kayumanis-1 lead Prospect potential alone is estimated at up to 59mmbbl or 340Bcf gas.*
> 
> Am I the only one that can see value here? 12million market cap, cap raising of about 2.5million at .006 and should have 5 million cash and about to announce drilling Dec targeting equivalent to 300million bbl oil ....?
> 
> Sounds like a good BESBs story?


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

Accumulating at .006c.


----------



## Garpal Gumnut

*Re: QPN - Quest Petroleum*



BESBS Player said:


> Accumulating at .006c.




Quite a nice descending triangle since April 2012.

Usually breaks down but can break up.

Best with it.







gg


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

Hi Garpal,

Once drilling is confirmed, we should see some movement at the station.
Waiting patiently...

Holding at .006c


----------



## basilio

*Re: QPN - Quest Petroleum*

Be good to know when drilling will start.  This seems to drag out longer than Ben Hur.  My last recollection  was drilling to start in December.

http://www.proactiveinvestors.com.a...south-sumatra-oil-and-gas-drilling-35847.html

http://www.proactiveinvestors.com.a...il-and-gas-production-on-its-radar-37107.html


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> Be good to know when drilling will start.  This seems to drag out longer than Ben Hur.  My last recollection  was drilling to start in December.
> 
> http://www.proactiveinvestors.com.a...south-sumatra-oil-and-gas-drilling-35847.html
> 
> http://www.proactiveinvestors.com.a...il-and-gas-production-on-its-radar-37107.html




yeah would be good to know. Seems that QPN are putting all the pieces in place to build a solid production base in addition to their exploration strategies. Perhaps the "perfect storm" will be worth the wait.


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

Been picking up more QPN. Quarterly was largeley as expected. Cash to go, just waiting on finalisation of an agreement with local landowners. Wet season should end relatively soon. I'm expecting a drill around April. Reminds me a lot of the shareprice 'calm' of BKP before MacIntyre. After a false alarm, finally drilling got underway and early holders reaped a very nice BESBS (Buy Early Sell before Spud) profit. Hoping that this runs in a similar way.

Holding QPN at .006c


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

Nice to see John Campbell's Oiler's Weekly reviewing QPN in the last edition. 

_*Options Corner*_
"Listed options can offer great leverage to the head shares particularly when they are well out of the money and trade for just a few cents or less. Should the head shares suddenly take off towards the options exercise price the options can move quite far quite fast.
Quest Petroleum is to drill the Kayumanis #1 well in its Ranau PSC onshore Sumatra Ranau PSC sometime later this year. It is said to have a target potential of 59 mmbbls of oil or 340 Bcf of gas"... .

I won't print more as it is a subscription publication but it does show growing interest among professional ranks in QPN. With the market seeming to be growing in confidence, and the way $$$ have chased LKO in the last week, the short-term environment for exploratory oilers with imminent projects looks positive.


Holding at .006c


----------



## prawn_86

*Re: QPN - Quest Petroleum*



BESBS Player said:


> Holding at .006c




Took a little dabble at them today at .006 also. Hoping they start drilling sooner rather than later


----------



## newanimal

*Re: QPN - Quest Petroleum*

in at .006 (averaging down from .010 long time lock-in)
could of waited for a buy @.005 but did'nt want to risk missing the boat.


----------



## basilio

*Re: QPN - Quest Petroleum*

There has been a big selldown of QPN shares this afternoon. 39 M shares sold at .005 .

Someone is trying to get out quickly.


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> There has been a big selldown of QPN shares this afternoon. 39 M shares sold at .005 .
> 
> Someone is trying to get out quickly.




maybe 'someone' had a buy back in at .004 set up


----------



## urgalzmine

*Re: QPN - Quest Petroleum*

HMm not lOoking so flash.

BESB u still in here?


----------



## newanimal

*Re: QPN - Quest Petroleum*

I'm confident sp will inevitably head north in due time, but these little sell-offs at this stage in the absence of  negative announcements  mystify me. Any insiders care to share your knowledge and experience?


----------



## bratt90

*Re: QPN - Quest Petroleum*

bought in at 0.006 i reckon if they find oil in there first well and it contains 59mmboe we could see the price go to 3-4cps hope they do just waiting for drilling date


----------



## bratt90

*Re: QPN - Quest Petroleum*

does anyone reckon this stock has the potential to go to 19 or 20cps


----------



## urgalzmine

*Re: QPN - Quest Petroleum*



bratt90 said:


> does anyone reckon this stock has the potential to go to 19 or 20cps



Firsty they need to announce a drill date.

Then we can dream after that


----------



## prawn_86

*Re: QPN - Quest Petroleum*



urgalzmine said:


> Firsty they need to announce a drill date.
> 
> Then we can dream after that




On the topic, is there any indication as to when the drilling will be? This company is very quiet considering they have said they want to drill 3 wells this year


----------



## bratt90

*Re: QPN - Quest Petroleum*



prawn_86 said:


> On the topic, is there any indication as to when the drilling will be? This company is very quiet considering they have said they want to drill 3 wells this year




Thats very true i was thinking the same they had better get there running shoes on cause we are in march now it will soon be the middle of the year i reckon they will drill only one this year depends if they can and when hire the drill rig at least it will be the dry season there maybe thats the time they want to drill 

waiting patiently


----------



## newanimal

*Re: QPN - Quest Petroleum*

since they announced middle of Nov their plan to drill the following month, i'd expect ducks to be in a row by dry season this year. Given past SP sensitivity to favorable points but non-activity related announcements. I anticipate a robust move when real action gets underway. just MO


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

Still waiting for QPN to announce a drill. I agree with comments above...drilling dates are needed to get the SP moving. Once a drill is announced, then it should be quick movement (assuming that the general market is perceived as okay at the time). From a Buy Early Sell before Spud (BESBS) or even to sell during a drill, you only need the first drill. bring it on soon now the dry season should be settling...

Holding at 0.0055c


----------



## newanimal

*Re: QPN - Quest Petroleum*

yet another vip on board with Quest with impressive track record and expertise. Gee...i wonder how that land access agreement with the landowner is coming along... you know...so they can set a spud date?


----------



## basilio

*Re: QPN - Quest Petroleum*

Someone is taking a position with QPN. Bit of a flurry on the market and around 11mill shares sold to one buyer.

Perhaps a spud date will be announced soon ?


----------



## newanimal

*Re: QPN - Quest Petroleum*

yeah quite a buy. Seems a flurry of buyers (orders) entered as well to further the depth weight to the buy side. Good. 
Seems the time and season would be ripe for a drill announcement....hmmm


----------



## basilio

*Re: QPN - Quest Petroleum*

QPN has finally released an update on the process for drilling at their new prospect.

They are buying the property on which they will drill and now have to negotiate drillers, rigs and whatever. Doesn't seem like a quick process.

I'm disappointed with this company. There was no indication last year that this process would be so involved and drag out so long. Sort of feel as if the directors are taking too much time over the process.

Any thoughts ?

http://newsstore.fairfax.com.au/app...rkets.theage.com.au/apps/qt/quote.ac?code=qpn


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

Hi Basilio,

After a longer than anticipated wait, I'm quite happy with today's progress/announcement. Before QPN can run, it needed to establish land access, and importantly the 'rights' to oil & gas. This has been achieved. It took a while (as do many things in Indonesia) but as long as it is done legally and supports the company going forward, then this is diligent management when operating if newly developed/developing nations. 

Currently, the market is slow for the junior oilers. That said, QPN has a lot going for it once we get a rig announcement and an estimate of spud date. They will be the catalysts for SP movement. IMHO, the SP movement will be significant at that time. Reasons for this include: 

* target potential up to 59mmbbl or 340Bcf gas. This is a large target given the MC of Quest. Most traders prefer a high impact drill as it offers the possibility of a high impact return. QPN's drill offers this.
* the SP is still within range of historic low levels. Last year the SP hovered over 1c on anticipation of drilling. From here, that would be 100% return. 
* If one takes the options as a guide (currently .002c for use at .015c), then punters are banking on .017c to break even. Clearly this is speculation on their behalf. That said, last year the SP hovered close to .012c on anticipation of drilling. When the real things actually occurs... 
* The leverage from such a low base price, and the % increase per .001c from this low base, should make it appealing for day-traders and speculators alike.
* QPN have potential drills to follow if implemented. This encourages punters who wish to hold through the drill and are not playing a BESBS (Buy Early Sell Before Spud) approach.

We should now start to see accumulation after today's announcement, although probably not large SP movement. Bring on the rig contract and a spud date - then the real action begins.

As I said earlier, it has taken longer than I expected. That said, *if *the SP gets the options into the black as drilling commences, then we are sitting on 200%+ profit from here. If that is your only trade each year, you will do well. It is rare that I would speculate more than 4 or 5 times a year. It isn't the number but the profit that counts.  Some things are worth the wait.  Hang in there!

Holding QPN at .0055c ave


----------



## basilio

*Re: QPN - Quest Petroleum*

QPN  is really dragging the chain now. We are now seeing dips into .003 territory which seemed almost unthinkable months ago given the cost vs return potential of this play.

Anyone have any info/vibes on the current state of play ?


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> QPN  is really dragging the chain now. We are now seeing dips into .003 territory which seemed almost unthinkable months ago given the cost vs return potential of this play.
> 
> Anyone have any info/vibes on the current state of play ?




I'm a little baffled myself, all the fanfare and build up ...land deal resolved etc., end of june and still not a peep regards to a drill date...nevertheless, I believe  BESBS players last post above still holds true. I'm hoping to free up some cash 
to buy up some more while at these prices.


----------



## basilio

*Re: QPN - Quest Petroleum*

Finally some movement at the station..

QPN has confirmed outright  purchase  of the land for the first drilling. Probably explains the bit of a flurry over teh past couple of days with all the .004 shares being taken out.  I think there should be some strengthening of interest today as the market digests this news.

Be good to see  some quick announcements of drilling dates.

http://newsstore.fairfax.com.au/app...rkets.theage.com.au/apps/qt/quote.ac?code=qpn


----------



## Mrnuddles

*Re: QPN - Quest Petroleum*

I for one am very pleased with this last announcement.
I have been less then happy with managements lack of communication over the last 12 months.

I have a million shares in this company and I am very much looking forward to the day when my shares will be worth 50c to a dollar each and my money worries are over.

Sounds like a pipe dream I know but I think it may even happen in the next 1-5 years, I can be patient for those kind of returns.

QPN certainly has the management team in place and seem to be putting the right strategies in place to accomplish their goal of becoming a Mid Tier producer similar to Rio Tinto or Santos.

Santos last SP was $12.45, bring it on QPN.


----------



## basilio

*Re: QPN - Quest Petroleum*



> I have a million shares in this company and I am very much looking forward to the day when my shares will be worth 50c to a dollar each and my money worries are over.




Only a teensy, weensy bit hopeful here...

Hell I'd be rapt if it reached 2c and totally delirious at 5c ! Lets see them actually put a bit into the ground and bring up something more than mud shall we ?

Cheers


----------



## prawn_86

*Re: QPN - Quest Petroleum*



Mrnuddles said:


> QPN certainly has the management team in place and seem to be putting the right strategies in place to accomplish their goal of becoming a Mid Tier producer similar to Rio Tinto or Santos.




Care to elaborate as to how they will acheive this? ASF is a place for discussion and analysis not ramping


----------



## Country Lad

*Re: QPN - Quest Petroleum*



Mrnuddles said:


> QPN certainly has the management team in place and seem to be putting the right strategies in place to accomplish their goal of becoming a Mid Tier producer similar to Rio Tinto or Santos.
> 
> Santos last SP was $12.45, bring it on QPN.




Oh yes?  50 cent to $1?  Let's see, at the same P:E and eps as STO, and let's take middle of your price range at 75 cents, that gives it a net profit (after tax and everything else) of around $98 million.  

That would put it in the top 100 companies listed on the ASX based on profit.  How realistic is that?

Maybe a little more detail and thought before making your first post ramping a penny dreadful would be in order.

Cheers
Country Lad


----------



## Mrnuddles

*Re: QPN - Quest Petroleum*

Hi Country,
Not sure why you feel the need to insult me because I have only made one post in this forum.
I have been posting in various other forums for many years with no nasty comments, maybe this forum is not for me if the class of people are similar to you.

With regard to QPN, I will be laughing at you in a year or two when my predictions come true.
I wasn't telling you to buy them or even suggesting the same, just talking really.


----------



## Joe Blow

*Re: QPN - Quest Petroleum*



Mrnuddles said:


> Hi Country,
> Not sure why you feel the need to insult me because I have only made one post in this forum.
> I have been posting in various other forums for many years with no nasty comments, maybe this forum is not for me if the class of people are similar to you.




Nobody is insulting you. You are simply being called out for your ramping.



Mrnuddles said:


> With regard to QPN, I will be laughing at you in a year or two when my predictions come true.
> I wasn't telling you to buy them or even suggesting the same, just talking really.




It seems you are also unable to stop ramping, even after having it pointed out to you.

I think it's reasonable to expect that you support your assertions with some kind of explanation. At $0.004 cents per share QPN has a market cap of around $12 million. Your arbitrary price targets suggest a market cap of $1.5 billion to $3 billion.

Perhaps you could outline, in some detail, how you can justify such a market capitalisation based on what the company has announced to the market? I'm sure everyone here would be very interested in your analysis.


----------



## BESBS Player

*Re: QPN - Quest Petroleum*

G'day all.

Still holding and waiting. The good news is that QPN own the land. In the case of Indonesia, this will be a huge benefit *IF the drill bit is successful.

Given the recent market decline since early may, and then tax-loss selling, it has probably been a good thing that QPN haven't announced drilling in that period. That said, late July-August would be greatly appreciated, especially if the general market can stabilise a little.

I've been accumulating a few more at .004c . My thoughts on QPN are listed on my last post and the basics of that analysis remain largely unchanged. 

Holding QPN at .00475c ave and waiting eagerly 

BESBS*


----------



## hangseng

*Re: QPN - Quest Petroleum*



BESBS Player said:


> G'day all.
> 
> Still holding and waiting. The good news is that QPN own the land. In the case of Indonesia, this will be a huge benefit




"Quest has successfully negotiated to purchase the land outright rather than entering into a land access or use agreement. _*Title is held in the name of SKKMigas, as required under Indonesian law."*_

Whilst this is a positive move, QPN doesn't "own" the land, if they owned it the title would be in their name.

SKKMigas is the new government controlled entity, after BPMigas was ousted last year, and they are yet to be tested as to honouring agreements.

For the sake of my friends holding large parcels I hope this works out as planned. The Ranau location has the potential to transform QPN, but the corrupt local, regional amd national govt entities give me little confidence. 

Let's hope the new entity is above all of the corruption here, as this has the potential to be a significant project and a company maker.

QPN's wildcard remains as the name Thamrin, he may just be able to pull them through. What surprises me is why QPN, via Prabu Energy, didn't hold the title, that they can do under Indonesian law as they have Thamrin an Indonesian national as a director and Prabu an Indonesian entity. Why in the name of a govt body such as SKKMigas?

A positive, should it eventuate, is the govt is now looking at the maze of permits and looking to streamline the process. Should this happen it can transform this country into a wave of incoming international investment. If it ever happens...

What they do need to do is to get a drillbit into the ground, now over a year since they first announced this would occur, not once but twice. I watch very closely at QPN and any sign of a drilling company here being engaged I will go for the initial ride. So far not a hint of this happening.

I also watch RYG for any hint of the same, except in geothermal. Another industry hampered by Indonesian govt meddling. If, and a big if, RYG drills as they plan here and find what is being sought after, then investment companies will be all over them.


----------



## basilio

*Re: QPN - Quest Petroleum*

QPN has been dumped. 41 million shares dropped with the SP halving to .002.

WTF is happening ? Have the management skipped to the Bahamas with the last capital raising ? Any thoughts/news ?


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> QPN has been dumped. 41 million shares dropped with the SP halving to .002.
> 
> WTF is happening ? Have the management skipped to the Bahamas with the last capital raising ? Any thoughts/news ?




in my limited knowledge and experience
I can only come up with a few ideas:

1. Some large holders lost their patience  
2. it's a shake out before heading north
3. the whole thing was a scam and management has skipped to the Bahamas with the last capital raising


----------



## hangseng

*Re: QPN - Quest Petroleum*



newanimal said:


> in my limited knowledge and experience
> I can only come up with a few ideas:
> 
> 1. Some large holders lost their patience
> 2. it's a shake out before heading north
> 3. the whole thing was a scam and management has skipped to the Bahamas with the last capital raising





Or all three .....

I know of two large holders that let go yesterday, me not one of them as I sold out much higher long ago and have been waiting on some positive movements inn activity.

Other than that it may be 3. as the fast buyback today has been telling with 23,597,710  bought back at 3 so far. I was tempted but too slow as usual...


----------



## Paavfc

*Re: QPN - Quest Petroleum*

These guys have let shareholders down bigtime imo.

3 Wells in 2012 were promised maybe they meant 2015 !!


----------



## Bonk

*Re: QPN - Quest Petroleum*

Players come and go , that means nothing only that they probably should have been some where else all the time .... I am happy to hold and play . Currently av 0.005c  .... relax !


----------



## basilio

*Re: QPN - Quest Petroleum*

Not happy with with what is happening with QPN.

I decided to directly ask for further information from the company. If any other shareholders believe we are owed some actions perhaps you could consider doing likewise. I have pasted a copy of my correspondence.

_



			To Board and CEO QPN

WHEN WILL YOU BE DRILLING ?

I, like many other investors, were impressed with the potential of your South Sumatra leases. It certainly seemed to be worth a punt.

On your website in your initial story you believed you would be drilling by June 2012. As a result of that information your shares ramped up significantly to over 1c. You also took the opportunity to raise further funds at .006c.

This date came and went and then later in 2012 we were told that drilling was imminent by December 2012.

Again December came and went with no action but a steady decline in SP.

In 2013 you finally announced purchase of the land on which you were proposing to drill. Great ! But it does beg the question of how such a detail was ignored/overlooked in the early plans for development.

So in June you announced settlement on the property. I would have imagined that preparations for drilling had been undertaken in tandem with the settlement of the property so that activity could commence ASAP.

But its now September and we havn't heard a peep. All we do know is that 
1) QPN now has a significant management overhead cost that is quickly reducing capital
2) The SP has fallen by 50% as market confidence in your capacity to actually use shareholder funds for the purpose they were raised (ie drilling for oil/gas) diminishes.

I look forward to hearing from you ASAP as to the status of current exploration.

Your sincerely
		
Click to expand...


_


----------



## newanimal

*Re: QPN - Quest Petroleum*

nice work Basilio, been thinking about communicating  with qpn directly for a while myself as to wtf is up. If they (management) are operating in good faith and are merely hampered, stalled with ironing things out re property access (title??) , "business" issues with government, etc., I'd expect such reputable pros and ringers to be communicating more responsibly and transparently with investors and shareholders.
will follow suit after your example


----------



## Mr Jed

*Re: QPN - Quest Petroleum*

Excellent letter Basilio. I agree with it. While shareholders deserve a massive improvement in communications from the Management, I know a number of large shareholders and none of us have sold. 
I hope you get a reply to your comments but I doubt it.


----------



## basilio

*Re: QPN - Quest Petroleum*



Mr Jed said:


> Excellent letter Basilio. I agree with it. While shareholders deserve a massive improvement in communications from the Management, I know a number of large shareholders and none of us have sold.
> I hope you get a reply to your comments but I doubt it.




We'll see. If I don't get a response (very) soon I will reforward it and ask when will there be a formal response and if not why not.

At the very least I believe all shareholders are entitled to an update on current progress given that settlement of the drill site occurred in June and all things being equal we should have expected significant progress to drililng.

The SP is now absolutely RS at .002.  That is a big hit from the .006-.1 of last year.


----------



## Mr Jed

*Re: QPN - Quest Petroleum*

I wish you every success as if you do succeed it will be a major shift for the company as I know many have been forwarded on to the MD but little emerges.
There have been unplanned delays and possible background developments that have stalled the company but I would expect the company should now be on top of the delays and hopeful a positive change of direction is near.


----------



## Paavfc

*Re: QPN - Quest Petroleum*

QPN has been a disaster of an investment for me.

59,000,000 shares sold down today, something is not right here for sure.
Supposed to have drilled last year bad bad way to run a company....


----------



## basilio

*Re: QPN - Quest Petroleum*



Paavfc said:


> QPN has been a disaster of an investment for me.
> 
> 59,000,000 shares sold down today, something is not right here for sure.
> Supposed to have drilled last year bad bad way to run a company....




All dropped in the last 5 minutes. Looks like 2-3 big sellers.
In value it is $110k which is not a huge amount but in the circumstances doesn't look good.

*There has to be a statement imminently to explain the  current situation and clarify what is actually happening
*


----------



## Mr Jed

*Re: QPN - Quest Petroleum*



basilio said:


> All dropped in the last 5 minutes. Looks like 2-3 big sellers.
> In value it is $110k which is not a huge amount but in the circumstances doesn't look good.
> 
> *There has to be a statement imminently to explain the  current situation and clarify what is actually happening
> *




I read it as one seller and doubt it was Palmer. Its sad to see long term holders lose patience after supporting the company through the offer last year.

There is something major going on IMO that would explain the companies actions, I just hope its good and we find out quickly.


----------



## basilio

*Re: QPN - Quest Petroleum*

Another big sell off today with the SP now at rock bottom .001c.

And this in an exploration company which has yet to actually drill a bit in anger and still pays its executives $1m a year.

xxxxxxxx    sssss


----------



## kiril

*Re: QPN - Quest Petroleum*

I am providing this update for QPN shareholders as an outline of discussions that I have had with various company representatives over the last week.

3 Weeks ago I emailed our CEO, Anthony Milewski asking for either a meeting should he be in Indonesia, or a discussion via telephone. This email, much like many others sent by supporters of our business was ignored.

My personal life experience has taught me that you are just as much to blame in these situations if you stand by and do nothing…so I have decided to take massive action.

I spoke to a very well respected mining analyst I once worked with in Perth, whom I explained the current situation with QPN to. I asked him to introduce me to an oil & gas executive who he has known for some time, and has worked for the majors in Asia.

This introduction then started the wheels turning for me regarding bringing about some change at QPN. After 2 discussions and a fair amount of due diligence, the executive came back to me with some very encouraging opinion about QPN’s prospects, and indicated he was interested in getting involved.

My thinking at this point was that the current board has been given ample time to communicate with its shareholders about the delays of the last 18 months. I am of the belief that we are all big enough to accept that delays happen, especially in this part of the world. What we can no longer accept is being treated like mushrooms.

Last week I emailed the company secretary with my proposal to make board changes. In order to replace our CEO, we require at least 50% of votes. Because I wanted to minimise the cost to the business of calling an EGM, and issue the company with a notice pursuant to Sections 203D of the Corporations Act to do so, I requested that the CV of my proposed new director be added to the AGM pack and put up as a resolution for voting.

That morning I received an email reply from the secretary telling me that AM will be calling me. 

AM did call me and we talked for around 5mins. In short, he asked me to wait until the company report was released, and that he would then call me afterwards to discuss. My explained that I doubted very much that the release of the report would change anything in my mind, as no new information could be contained in it as it covered a period of time now past, and that any new information would need to be released via ASX.

Well, the report was released the next day, and yes, it does feel like they tried to include some new news to help pacify shareholders.

AM, true to his word did call me again yesterday to continue our conversation. Here is a summary:  


The seismic data only appeared after they purchased the land…they didn’t know it even existed prior to that. I pushed him for a drill date….even an estimate and he would not be drawn on that.

He did agree that the seismic interpretation should all be complete in no more than 2 months.

I kept raising the issue regarding a cap raising and that they have now burnt all their supporters and hence will not be able to get a cap raising away. His answer was that we will cross the bridge when we come to it.  

I said to him that basically their strategy is one of hope….we use all the cash left to identify the best place to drill our maiden hole and then we drill.  We then prey that we hit gas otherwise it’s all over. He basically agreed but did keep swaying me to the idea that the seismic should be pretty good. I said if it was, why didn’t the previous owner of the land drill it, since that data is 20 years old. He said the previous owner was the government (that’s news to me) and that the price of oil has increased since then so the economics are now better.

I asked about Moyes relationship…and he said they are bringing them opportunities but in this climate they need to be very selective and my feeling there is nothing going on there either.

He also mentioned that Ken is working round the clock on the Indo situation…..he kept trying to tell me that unless you have worked there, you wouldn’t understand how long things take there.

He asked what my intention was about nominating new directors onto the board. I explained that the only one I was looking to change was him.

He squirmed a bit and said well you understand that it’s not me, it’s a team effort…we are a team. I said no, you lead that team and for the 12 months you have been leader your communication has been unacceptable, we are all big boys and can handle the delays, we can’t handle being ignored. I told him I was in Indo 2 weeks ago, emailed him for a meeting and he ignored my email.

He said that I can call or email him any time and he would respond going forward. I said he will be making more effort to communicate with shareholders.

AM asked me what I would now do if I was in his position, and I answered I would do the same thing re trying to obtain and interpret seismic now that it has come to light.

Basically I said I was prepared to give him the next 2 months to complete the data interpretation, and that we expected improved communication.

Summary:

I still feel particularly bullish about our prospects and for this reason I am still on board.
I expect we will start to see a better level of communication from the management team. Looking at the map of who all our neighbours are tells me everything I need to know about the opportunity and why I am still here.

Kiril

I hold


----------



## basilio

*Re: QPN - Quest Petroleum*

Kiril that was a  great job.  Thank you hugely !

One of the supposedly convincing points of this project was the presence of Dr Thurmin (?) We were given to understand that his contacts and experience would play a significant role in this development.

So far that doesn't seem to have happened.

I'm still wondering at the unwillingness to even guess at a drill date. Have they started discussions with drilling companies? Are they available ?  Are there logistic issues (Every statement to date says it is an easy drill. Is this correct ? Will they actually drill on the land they have purchased or could teh sesmic results indicate another location ? )

With regard to Moyes I have my doubts about their value. HOG used their analysis for the developments in the Ukraine. After one excellent well they have gone downhill with a vengeance.

I'm also very concerned with the  salaries  management are paying themselves while there is little perceived activity.  I suppose in the past I have just noted examples of mining companies which exist purely for the benefit of the directors. Now that I am  the one being taken for a ride the issue is far more relevant...

Really hope your intervention is sufficient to move this project along and look forward to a more proactive management - or a change of management.

Cheers


----------



## basilio

*Re: QPN - Quest Petroleum*

Kiril I believe the option of changing the CEO should still be on the table. It would be great to see a substantive change in communication and progress over the next 2 months. But how likely is that ?

I also have a troubling question about the promises made to drill in December.  The statements released by management in October 2012 promised imminent drilling.  It was that promise that supported the capital raising at .006c. 

I would like to know on what basis these statements were made and what material changes occurred that resulted in the delays.  The fact that there is still no drill date in sight is also disturbing. 

http://www.proactiveinvestors.com.a...nd-gas-well-with-bpmigas-approval--34543.html

http://www.proactiveinvestors.com.a...south-sumatra-oil-and-gas-drilling-35847.html

http://www.proactiveinvestors.com.a...f-indonesian-oil-and-gas-well-site-44199.html


----------



## Mr Jed

*Re: QPN - Quest Petroleum*



kiril said:


> I am providing this update for QPN shareholders as an outline of discussions that I have had with various company representatives over the last week.
> 
> 3 Weeks ago I emailed our CEO, Anthony Milewski asking for either a meeting should he be in Indonesia, or a discussion via telephone. This email, much like many others sent by supporters of our business was ignored.
> 
> My personal life experience has taught me that you are just as much to blame in these situations if you stand by and do nothing…so I have decided to take massive action.
> 
> I spoke to a very well respected mining analyst I once worked with in Perth, whom I explained the current situation with QPN to. I asked him to introduce me to an oil & gas executive who he has known for some time, and has worked for the majors in Asia.
> 
> This introduction then started the wheels turning for me regarding bringing about some change at QPN. After 2 discussions and a fair amount of due diligence, the executive came back to me with some very encouraging opinion about QPN’s prospects, and indicated he was interested in getting involved.
> 
> My thinking at this point was that the current board has been given ample time to communicate with its shareholders about the delays of the last 18 months. I am of the belief that we are all big enough to accept that delays happen, especially in this part of the world. What we can no longer accept is being treated like mushrooms.
> 
> Last week I emailed the company secretary with my proposal to make board changes. In order to replace our CEO, we require at least 50% of votes. Because I wanted to minimise the cost to the business of calling an EGM, and issue the company with a notice pursuant to Sections 203D of the Corporations Act to do so, I requested that the CV of my proposed new director be added to the AGM pack and put up as a resolution for voting.
> 
> That morning I received an email reply from the secretary telling me that AM will be calling me.
> 
> AM did call me and we talked for around 5mins. In short, he asked me to wait until the company report was released, and that he would then call me afterwards to discuss. My explained that I doubted very much that the release of the report would change anything in my mind, as no new information could be contained in it as it covered a period of time now past, and that any new information would need to be released via ASX.
> 
> Well, the report was released the next day, and yes, it does feel like they tried to include some new news to help pacify shareholders.
> 
> AM, true to his word did call me again yesterday to continue our conversation. Here is a summary:
> 
> 
> The seismic data only appeared after they purchased the land…they didn’t know it even existed prior to that. I pushed him for a drill date….even an estimate and he would not be drawn on that.
> 
> He did agree that the seismic interpretation should all be complete in no more than 2 months.
> 
> I kept raising the issue regarding a cap raising and that they have now burnt all their supporters and hence will not be able to get a cap raising away. His answer was that we will cross the bridge when we come to it.
> 
> I said to him that basically their strategy is one of hope….we use all the cash left to identify the best place to drill our maiden hole and then we drill.  We then prey that we hit gas otherwise it’s all over. He basically agreed but did keep swaying me to the idea that the seismic should be pretty good. I said if it was, why didn’t the previous owner of the land drill it, since that data is 20 years old. He said the previous owner was the government (that’s news to me) and that the price of oil has increased since then so the economics are now better.
> 
> I asked about Moyes relationship…and he said they are bringing them opportunities but in this climate they need to be very selective and my feeling there is nothing going on there either.
> 
> He also mentioned that Ken is working round the clock on the Indo situation…..he kept trying to tell me that unless you have worked there, you wouldn’t understand how long things take there.
> 
> He asked what my intention was about nominating new directors onto the board. I explained that the only one I was looking to change was him.
> 
> He squirmed a bit and said well you understand that it’s not me, it’s a team effort…we are a team. I said no, you lead that team and for the 12 months you have been leader your communication has been unacceptable, we are all big boys and can handle the delays, we can’t handle being ignored. I told him I was in Indo 2 weeks ago, emailed him for a meeting and he ignored my email.
> 
> He said that I can call or email him any time and he would respond going forward. I said he will be making more effort to communicate with shareholders.
> 
> AM asked me what I would now do if I was in his position, and I answered I would do the same thing re trying to obtain and interpret seismic now that it has come to light.
> 
> Basically I said I was prepared to give him the next 2 months to complete the data interpretation, and that we expected improved communication.
> 
> Summary:
> 
> I still feel particularly bullish about our prospects and for this reason I am still on board.
> I expect we will start to see a better level of communication from the management team. Looking at the map of who all our neighbours are tells me everything I need to know about the opportunity and why I am still here.
> 
> Kiril
> 
> I hold



Great report Kiril. All actions seem to be leading to a farm-in.


----------



## kiril

*Re: QPN - Quest Petroleum*

In my discussion with AM, I mentioned that a source on the ground whom is very reliable had canvassed all the rig operators in the region and word was the QPN had NOT yet spoken or engaged with a local operator. He stopped me at that point rather passionately and absolutely denied that to be the truth... stating that they have had detailed discussions with a rig operator. I guess as CEO, for him to say this to me it must be true. It will be recorded in the board minutes...as one of the greatest minds to ever come out of Macquarie Bank always says...."everything is on the record".

Regarding having the CEO replaced, we need 50% of shareholders...which I think we  will have.

I have well over 5% in my group of investors. 
I am also in touch with another group that has around 7% of the register.

I will contact each of the top 50 that I don't already know and state our intention.

However, lets not jump the gun. AM has come full circle with his response to me and others from what I am hearing. I gave him a 2 month commitment and will be true to my word. I just hope he is too.

Kiril.

I hold.


----------



## Country Lad

*Re: QPN - Quest Petroleum*



kiril said:


> Regarding having the CEO replaced, we need 50% of shareholders...which I think we  will have.




Just curious, which section of either the Corporations Act or the company's Constitution allows shareholders to force the replacement of the CEO?  Directors, yes, but never heard of it regarding a CEO.

Cheers
Country Lad


----------



## kiril

*Re: QPN - Quest Petroleum*

Hi Country Lad.

To answer your question, there is no such provision under the Corporations Act.

The CEO cannot be removed by shareholders as it is a Board appointment (if he is a director, he can be removed as a director but would remain as the CEO unless he resigned or was removed by the board).

Under S.203D of the Corporations Act I can write to the board with proof that I represent greater than 5% of the issued capital in QPN and request an EGM. Under s249D of the Act I request that the Company call a meeting to consider and if thought fit resolve that the following person be removed as a director under s203D of the Corporations Act.

This will require that the meeting be called within 21 days under the Corporations Act and give notice that should the Company fail to do so, I will call the meeting under the provisions of s249E of the Corporations Act.  

Now once the vote is cast and if carried to remove the CEO as a Director, and my candidate is elected, we have a situation where the CEO is CEO but not director. Clearly a substantial show of no confidence by the shareholders, and by this time very public as the media loves a good boardroom battle. You would hope either the CEO steps down, or the board decides to listen to their shareholders and replace him.

If this does not occur, I could use the above to spill the entire board or enough of the board to gain control.

Either way, this not something any board wants to go through, when all they need to do is start communicating with its stakeholders, and start demonstrating value.

Kiril.

I hold.


----------



## Country Lad

*Re: QPN - Quest Petroleum*

Hi Kiril







kiril said:


> Hi Country Lad.
> 
> To answer your question, there is no such provision under the Corporations Act.
> 
> The CEO cannot be removed by shareholders as it is a Board appointment




Yes that is what I was getting at.



kiril said:


> This will require that the meeting be called within 21 days under the Corporations Act and give notice that should the Company fail to do so, I will call the meeting under the provisions of s249E of the Corporations Act.




I am not trying to tell you how to suck eggs, but you need to be a little careful about the period of notice. Section 249(H)3 says that there must be *at least 21* days notice for a motion to:

(a) remove a director under section 203D; or....​
Section 203D says partly:

(2) Notice of intention to move the resolution must be given to the company *at least 2 months* before the meeting is to be held......​
although it is ambiguous about the time frame, but is intended to allow for all the procedural stuff like the Director has the right to put his case to the shareholders.

Does the Company's Constitution make mention of the type of resolution for the removal of a director?  Most Constitutions I have been involved with require the removal of a director to be a Special Resolution requiring 75% approval.



kiril said:


> Now once the vote is cast and if carried to remove the CEO as a Director, and my candidate is elected, we have a situation where the CEO is CEO but not director.




I would not like to be your candidate.  If the CEO has the confidence of the rest of the board, and the board would have to stand by the CEO otherwise they would look stupid for not getting rid of him before, then your guy would be simply a dissenting director and could very well be ignored by the other directors.  

Having resigned from a board because the other directors refused to put in place adequate corporate governance and risk safeguards, I can tell you it is not a good place to be.

Cheers
Country Lad


----------



## kiril

*Re: QPN - Quest Petroleum*

I spoke with the company secretary and emailed him regarding the constitution. I told him I did not wish to see the company incur additional costs regarding the calling of an EGM if the constitution allowed for me to have this delt with in the up coming AGM, to which JW agreed, and said he would be happy to play ball and include my candidates CV for all shareholders to make their own judgement.

Regarding the vote, my Corps Lawyer told me its 50%.

Regardless, I am a reasonable guy and always believe that people will do the right thing.....sometimes with a little force. Am hoping we don't need to go down this path, but at the same time I am prepared for it.

Kiril.

I hold.


----------



## basilio

*Re: QPN - Quest Petroleum*

Excellent Kiril.  Will certainty back you up if and where necessary.

Hopefully the Board will re evaluate the situation and ensure we see some value for our investment rather than watching it disappear into troughs.


----------



## basilio

*Re: QPN - Quest Petroleum*

December is approaching quickly and still nothing of significance from Quest.

What I did notice today was that someone decided to buy around $31,000 of shares at full price (.003c) .  Nice vote of confidence... versus the bailout of 31m shares earlier this week.

Any news/whispers folks ?


----------



## newanimal

*Re: QPN - Quest Petroleum*

Been feeling like a trapped sucker for what seems like an eternity waiting to see a flicker of light at the end of this uhhhh ... tunnel. That was a pathetic activity report. Anybody know what these really guys do for a living


----------



## mobcat

*Re: QPN - Quest Petroleum*

And got few million more today took a bit of time to get this last trance sellers are really thin at this level, happy to take more as they present.


----------



## Porper

*Re: QPN - Quest Petroleum*



mobcat said:


> And got few million more today took a bit of time to get this last trance sellers are really thin at this level, happy to take more as they present.




At least you have a sense of humour, especially liked the "sellers are really thin at this level" comment. Very funny

At least it can't go any lower...that is until it delists.


----------



## mobcat

*Re: QPN - Quest Petroleum*



mobcat said:


> And got few million more today took a bit of time to get this last trance sellers are really thin at this level, happy to take more as they present.



And again today another 5m @0.02 got to be happy with that ....keep em coming i have a way to go yet till i have my fill


----------



## basilio

*Re: QPN - Quest Petroleum*



mobcat said:


> And again today another 5m @0.02 got to be happy with that ....keep em coming i have a way to go yet till i have my fill




Well I'm glad someone still believes in QPN's possibilities! 

OK it does seem to have a potentially great lease. Trouble is they have now spent more than 2 years trying to make sure of *exactly* where they are going to drill.  Meanwhile management has worked that they can simply take over the company completely by *NOT* drilling but taking their super expensive salaries in scrip for the next few months.

*I wonder when the directors share ownership becomes 50 plus % simply by allocating themselves   hundred of thousands dollars worth of shares at .02 c ?*

In my view QPN is an exceptionally interesting prospect that is being systematically milked by its management.


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> Well I'm glad someone still believes in QPN's possibilities!
> 
> OK it does seem to have a potentially great lease. Trouble is they have now spent more than 2 years trying to make sure of *exactly* where they are going to drill.  Meanwhile management has worked that they can simply take over the company completely by *NOT* drilling but taking their super expensive salaries in scrip for the next few months.
> 
> *I wonder when the directors share ownership becomes 50 plus % simply by allocating themselves   hundred of thousands dollars worth of shares at .02 c ?*
> 
> In my view QPN is an exceptionally interesting prospect that is being systematically milked by its management.




right... so after these guys have glutted themselves with shares @ .02, they'll want to "pump" SP north with some "positive announcements".... then dump  at some point. Perhaps something to look forwards to at least


----------



## basilio

*Re: QPN - Quest Petroleum*



mobcat said:


> And again today another 5m @0.02 got to be happy with that ....keep em coming i have a way to go yet till i have my fill




Well Mobcat look forward to seeing you jump into the market today.  Looks like at least 17mil of shares at .02c available.

Let's go!!


----------



## mobcat

*Re: QPN - Quest Petroleum*



basilio said:


> Well Mobcat look forward to seeing you jump into the market today.  Looks like at least 17mil of shares at .02c available.
> 
> Let's go!!



Hi Basilio got enough for now mate, now i suppose its just a matter of being patient now and let this bad boy build some steam


----------



## mobcat

*Re: QPN - Quest Petroleum*

Found a bit of a informal update this week from Motboy on HC worth a read for holders of QPN 

Hi All,

for many of us the last quarterly raised more questions than answers. For me personally I had a number of questions that needed further discussion and these questions were posed to Anthony on Friday. 

He responded over the weekend with a conference call arranged for today to review the questions in more detail.

Below I've outlined the question Qx), Anthony's response (AM) and my subjective take on the situation (MB).

Note that I asked permission to post this information and I've highlighted where Anthony was unwilling to answer any of my questions due to sensitivity concerns.

Q1) The last quarterly update mentions that tenders have been tabled for UKL, UPL and EBA assessment. Do you have a view for when a contract maybe allocated?

(AM) No view at the moment. Have providers that we’re looking at. Regulators are now considerably more cautious making on the ground progress tough going.

(MB) For those of you who have been following the absolute shambles that is unraveling in Indo you'll be aware there is a plethora of corruption being uncovered with high ranking Indo O&G officials and other key industry players. 

As someone who has run a business in Asia and seen the level of corruption that can play out in the flesh I don't view this as just as an excuse rather tough timing. Could Quest have done something different to get a drill in the ground by now? Undoubtedly. But with the likes of the head of Oil and Gas looking like he's about to be drawn and quartered all the decision makers have gone to ground for fear of exposure (rightly or wrongly).

For some more light reading on the current situation check out the following links -

http://www.bbc.co.uk/news/business-23691287

http://www.thejakartaglobe.com/news/rudis-arrest-only-the-first-in-skkmigas-corruption-scandal/

And one of many articles out there about Mobil reducing its Indonesia exposure due to "various reasons"...

http://www.thejakartapost.com/news/...ds-exxonmobil-replace-uncooperative-boss.html

2) The most intriguing statement within the last quarterly related to the "Expanded production strategy and strategic partnership" section. Specifically -

PREVIOUS QUARTERLY

Expanded Production Strategy and Strategic Partnership

The Company continues to receive and review proposals to participate in projects that could compliment the Company’s ambition to become a significant hydrocarbon producer.

CURRENT QUARTERLY

Expanded Production Strategy and Strategic Partnership

The Company has received and reviewed several proposals to participate in projects during the quarter that could compliment the Company’s ambition to become a significant hydrocarbon producer.

This seems to imply that Quest has reviewed some proposals and I can only presume the team has made a decision around whether these proposals are worth pursuing. To tie off this point are you planning on communicating exactly what these proposals were as I believe it to be of shareholder interest?

(AM) Don’t read anything into above. QPN are looking into partnership options but information is too sensitive to mention. Nothing has been agreed or the market would know about it.

(MB) Without question partnership discussions are happening but how progressed and the likelihood that these deals will materialise was undisclosed. 

3) If I was to summarise the quarterly it would appear that the companies focus seems to be leaning toward putting a deal in place with a partner than forwarding drilling plans. If I'm reading this right can I assume that the only way QPN is going to move forward with the Ranau Block given the companies cash position is via a farm-in, or similar, agreement?

(AM) Can’t say one way or the other. 

(MB) Response backs up the summary of the previous question. This was certainly an area that Anthony was unable to discuss in any detail.

4) The recent 3b announcement stipulates the following break-down in allocated shares -

25m employees
31m consultants

Are you able to break down who has received these shares and more importantly the nature of the work conducted by the aforementioned "consultants"?

(AM Directors can’t be allocated shares without shareholder approval that will happen at the next AGM (or EGM). Ken Bull and Jonathan White are good examples of employees who are taking a significant amount of shares as salary (exact amount was undisclosed but close to 100%).

(MB I pressed Anthony on who the aforementioned consultants are and when he wouldn't disclose this, for obvious reasons, I asked the nature of their business and again the answer was equally vague in that they are focused in the "technical space". 

Now it would not be a push to expect that these consultants could be either a) helping Ken on the ground in Indo and/or b) helping Anthony fashion a partnership agreement. Regardless of what they are up to I believe it should be viewed as a vote of confidence as consultants do not do something for nothing and given they have taken shares in lieu of cash it seems to indicate that the end game, what ever that looks like, will allow them to recoup their expenses at the very least. 

5) Thanks to the share allocation cash burn was down below 500k last quarter. That's great news and I fully support the share sacrifice scheme however in your opinion what will happen at the end of June when the scheme is reassessed? Again reading between the lines does this infer that this quarter is somewhat of a make or break for Quest and its attempt to secure a partnership?

(AM) Share salary scheme will continue beyond the 30th of June if required.

Finally I asked Anthony where he would like Quest to be in a couple of months time to which he responded -

(AM) To have a production enterprise up and running. 

(MB) If I would attempt to summarise this discussion I'd say that there are three key out takes -

1) Trying to conduct O&G business in Indo at the moment is a nightmare.
2) Clearly there are deals being discussed in the background and whatever these deals are the 'consultants' are willing to take Quest shares in lieu of cash as are the likes of Ken Bull.
3) Cash burn is under control and on the improve. Appreciate this comes at the expense of share dilution however it's unlikely there would be similar operators in Indo running at a similar burn rate. 

Anthony was very responsive and as candid as he could be. It was pretty clear from the call that he's just as pissed off with the lack of progress as the rest of us. Credit to him for taking the time to talk and approval for the conversation to be summarised and posted on HC.

Just to stress that comments prefaced with my initials above are subjective and from an investor that sees light at the end of the tunnel. Let's just hope that Anthony can pull some kind of a deal together so those of us who have been around for a while have something to show for our patience.

Note if you have any questions regarding the points above I'm in the UK so won't be able to respond until Tuesday arvo AU time.

Cheers,

Made in New Zealand


----------



## basilio

*Re: QPN - Quest Petroleum*

Mobcat your last post was around 6 weeks ago and in theory QPN wanted to have something concrete in a couple of  months.  So maybe there is an anouncement around teh corner.

Meanwhile the market is telling a different story.  Now how 20m sellers at .02 so clearly there is plenty of stock if you want at just above dead. 

But the buyers at .001 are falling rather quickly.  Now only 69m shares wanted.  Really hope there is the mother of all announcements in the next few weeks....


----------



## mobcat

*Re: QPN - Quest Petroleum*

Just waiting for news Basilo nothing else we can do but be patient now i have my fill of shares at what i hope is a rock bottom price


----------



## mobcat

*Re: QPN - Quest Petroleum*



mobcat said:


> Just waiting for news Basilo nothing else we can do but be patient now i have my fill of shares at what i hope is a rock bottom price




Looks like it hit the fan at close today up 100% on volume dont know what it means lets hope its good news coming


----------



## Porper

*Re: QPN - Quest Petroleum*



mobcat said:


> Looks like it hit the fan at close today up 100% on volume




It's amazing what you can convey with words.

It can only go up or down 100% at these levels? Plus a massive $29000 worth of shares changed hands. Judging by the chart it has as much...if not more chance of delisting than surviving. Just a view from the other side for those thinking of an out and out gamble.


----------



## basilio

*Re: QPN - Quest Petroleum*

I thought it was a  bit crazy too.  15 million shares sold at .002c.

Yet no change in the purchase numbers and no change in the amount for sale. Somehow a  15 million shares buyer came from nowhere and met a 15 million seller who wasn't already trying to sell.

Fascinating....

Still I really hope there is some real activity in QPN. It has  just gone nowhere and downhill  for so  xxxxxing long.


----------



## mobcat

*Re: QPN - Quest Petroleum*



basilio said:


> I thought it was a  bit crazy too.  15 million shares sold at .002c.
> 
> Yet no change in the purchase numbers and no change in the amount for sale. Somehow a  15 million shares buyer came from nowhere and met a 15 million seller who wasn't already trying to sell.
> 
> Fascinating....
> 
> Still I really hope there is some real activity in QPN. It has  just gone nowhere and downhill  for so  xxxxxing long.




Back down to 0.001 today Basilio and the wall at 0.002 is 40m whats going on!!!!! ....by the looks of things nothing hey


----------



## mobcat

*Re: QPN - Quest Petroleum*

@00. 15 how can you buy at the price????


----------



## mobcat

*Re: QPN - Quest Petroleum*

Up 100% today but only on $1300 worth of shares , oh well better than nothing suppose


----------



## svengali

*Re: QPN - Quest Petroleum*



mobcat said:


> Up 100% today but only on $1300 worth of shares , oh well better than nothing suppose




With the share price bouncing around .001 to .002, and usually none being sold anyway, discussion regarding the share price at any given time, and any perusal of the capitalized value of QPN is useless and only gives the disaffected a forum to berate management (understandable though their protests may seem)

However as the old saying goes "there are more ways to skin a cat than dragging it backwards through a keyhole"

Perhaps management are not, indeed cannot be actively pursuing QPN's Indonesian holdings due to the chaotic situation with MiGas, the criminal investigation of their staff from the very top down, (already the jailing of some senior staff for graft), and the ascension of the new cleansing President not due until October.............for the time being Indonesia is a basket case

It may be that company eyes are trained over the horizon, well over the horizon. We shareholders are in management hands, they may yet surprise us all, if so the sooner the better


----------



## basilio

*Re: QPN - Quest Petroleum*

End of the year is approaching, not a peep from QPN and even the few .001c buyers are diminishing....

Just a question folks . What happens to a share if there simply arn't any buyers even at .001c ? Is it effectively no longer solvent ? And does anyone have any goss on the current state of play  with QPN ?


----------



## Porper

*Re: QPN - Quest Petroleum*



basilio said:


> End of the year is approaching, not a peep from QPN and even the few .001c buyers are diminishing....
> 
> Just a question folks . What happens to a share if there simply arn't any buyers even at .001c ? Is it effectively no longer solvent ? And does anyone have any goss on the current state of play  with QPN ?




There can be no buyers or sellers...it makes no difference to whether the company remains solvent or not. As for the goss...playing with a stock like this is as near to a pure gamble as you can get.


----------



## basilio

*Re: QPN - Quest Petroleum*

That was amazing !!! I offered the idle thought on what might happen if all the buyers at .001 were taken out...

*Three hours later that is exactly what has happened !*! Currently there are no buyers left for the QPN. 38mill shares sold in 5 minutes.  Wonder where that leaves the remaining shareholders ? Should the company make a statement ?


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> That was amazing !!! I offered the idle thought on what might happen if all the buyers at .001 were taken out...
> 
> *Three hours later that is exactly what has happened !*! Currently there are no buyers left for the QPN. 38mill shares sold in 5 minutes.  Wonder where that leaves the remaining shareholders ? Should the company make a statement ?




This is really weird. I put an order in today thinking it very unlikely to fill for a long time. Just wanted to be in line incase something changed for the better down the road and I would keep an eye on the placing in the meantime to bail if I got to close and changed my mind. I have a horrible feeling about this.
Anyone know what this could mean??


----------



## newanimal

*Re: QPN - Quest Petroleum*

you still holding Basillio?


----------



## basilio

*Re: QPN - Quest Petroleum*



newanimal said:


> you still holding Basillio?




A small amount.  But QPN has cost me heavily overall.  Very, very disappointed .

Of course the fact is that absolutely nothing has changed from this morning to tonight. It just seems that a tipping point came when people finally pulled the pin. It is an exercise in lost hope.

I really would like to know just what is happening with QPN.


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> A small amount.  But QPN has cost me heavily overall.  Very, very disappointed .
> 
> Of course the fact is that absolutely nothing has changed from this morning to tonight. It just seems that a tipping point came when people finally pulled the pin. It is an exercise in lost hope.
> 
> I really would like to know just what is happening with QPN.




yep, people noticed buyers were dwindling and pulled the pin at rock bottom while they still could. Having been out of QPN for a while I failed to notice the dwindling buyer factor. Just wanted to get in line for a possible entry with enormous leverage at .001 in case things took a turn for QPN. LER has been compensating me well from my sour experience with QPN but now will have to sell to cover the QPN fill. What a day of calamity and impeccable timing.
Seems the only hope now is that QPN will materialize some light at the end of this tunnel at some point.


----------



## newanimal

*Re: QPN - Quest Petroleum*

Announcement has shed some light on the situation. I guess the good news is QPN is not delisting. My best uneducated assessment is if QPN's plans of operation in S. Sumatra are scrapped after the new administrations environmental impact survey (in case it's a thumbs down) , which seems to be the worst case scenario, QPN is actively pursuing/reviewing other opportunities and other plans are in the works. A better case scenario would be a   positive result of environmental survey QPN projects approved by new administration. I haven't a clue about these matters or likelihood of anything. In any case it sounds like more waiting as usual either way. But it would seem something will change for the better eventually and at this ultimate multibagger leverage price which cant get any lower, buyers willing to wait would start coming in. Best I can do.


----------



## basilio

*Re: QPN - Quest Petroleum*

At least QPN is alive.. The announcement is very ordinary; any activity seems along way off and highly uncertain. QPN almost seems to be in a state of paralysis.


----------



## svengali

*Re: QPN - Quest Petroleum*

I urge readers to look up my post of 25SEP14, and view it in the light of todays QPN announcement

1/..... the political situation announced today by Milewski and its attendant disruption to progress and plans in the face of corruption in Indonesia and...........

2/..... the push to commence operations in North America, my guess at "over the horizon"

The chances at succeeding in Indonesia, when the heads of their OG departments are either in or facing jail sentences, are pretty remote you would think

Management, despite probably their best endeavors, have probably learned a harsh lesson, hopefully they and we can be recompensed by undertaking operations in North America

The vitriol and slander of management on other sites achieves nothing, unless they have proof of such practices, these writing assailants may well face charges

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

QPN does seem to be a very difficult situation.  I suggested paralysis in my earlier post and that appears apt.

It seems very strange that no-one can explore and develop oil/gas resources in Indonesia at the moment? Is that truly the case ?  Are other oil companies similarly affected? If it is the case should the company still be trying  to work in Indonesia? Is it better to find appropriate partners (which I assume is what they are currently doing).

I think the most troubling situation is that the initial promotion of the Indonesian saga gave absolutely no indication of any problems.  QPN had access to very promising areas. They were going to do a couple of easy drills in these prospects and one way or another investors were going to know if there was gas or oil. 

It's worth going back to April 2012 to see how confident the company was with it's projections and how this resulted in some very big trades and early winners in QPN. 

So how realistic was this story ?


----------



## basilio

*Re: QPN - Quest Petroleum*

I was wondering what QPN was going to do when the shares hit rock bottom (.001 ) and couldn't even raise a buy at that price.

Well now we know. Buried in the AGM report is the grand plan to reboot the phoenix 

The Directors will be issuing themselves and other parties another huge swag of shares in lieu of cash. Actually 1 billion shares or 33 % on the current  3 billion shares in circulation. Very noble of them.

THEN.... just to try and get some liquidity into the company... there will be a 20 to 1 share  consolidation  and change of company name to boot.

Won't be long before the directors have a controlling interest in a new company with the last $3 million of previous shareholders cash.
*
And not a single inch of oil drilling ever done with that cash.*

Priceless....

http://www.questpetroleum.com/i/pdf/announcements/2014 QPN NOM with proxy.pdf


----------



## newanimal

*Re: QPN - Quest Petroleum*



basilio said:


> I was wondering what QPN was going to do when the shares hit rock bottom (.001 ) and couldn't even raise a buy at that price.
> 
> Well now we know. Buried in the AGM report is the grand plan to reboot the phoenix
> 
> The Directors will be issuing themselves and other parties another huge swag of shares in lieu of cash. Actually 1 billion shares or 33 % on the current  3 billion shares in circulation. Very noble of them.
> 
> THEN.... just to try and get some liquidity into the company... there will be a 20 to 1 share  consolidation  and change of company name to boot.
> 
> Won't be long before the directors have a controlling interest in a new company with the last $3 million of previous shareholders cash.
> *
> And not a single inch of oil drilling ever done with that cash.*
> 
> Priceless....
> 
> http://www.questpetroleum.com/i/pdf/announcements/2014 QPN NOM with proxy.pdf




I have to admit this is new territory for me in my relatively limited trading experience. Does this mean that we, as previous shareholders will own 20 times the # of shares in newly named company amounting to the same value? That would seem to be the case in order to increase liquidity... or do I have it backwards? I'm a little confused about how consolidation scheme works particularly when considering current SP.


----------



## basilio

*Re: QPN - Quest Petroleum*



newanimal said:


> I have to admit this is new territory for me in my relatively limited trading experience. Does this mean that we, as previous shareholders will own 20 times the # of shares in newly named company amounting to the same value? That would seem to be the case in order to increase liquidity... or do I have it backwards? I'm a little confused about how consolidation scheme works particularly when considering current SP.




Wrong way around New animal.  The 4 billion shares will be consolidated to 200 million. You will get one new share for 20 old shares. It's what companies and governments do when they have inflated the hell out of their currency.

Nominal current value of the shares is less than .001c. Multiply by 20 and you would get something less than .02c. I believe the company has around $3m in the bank. Be hard to say what the shares in the company will start at. I reckon around .01c which is effectively half of the non value they have at the moment...

It will be interesting to see how much of the new company is now effectively owned by directors and associated parties in lieu of "services"

In 2013 the Managing Director received $338,465 in salary and fees. In the current year he is taking $1300 US a day mostly as scrip. And exactly what has he done for that money ? What a gig...

I see a fantastic Month Python skit in this.


----------



## newanimal

*Re: QPN - Quest Petroleum*

thanks for the clarification. I thought it would amount to a further shafting for shareholders. Makes sense. Can't believe how I blundered my way back into this company. In their self-awarding wisdom, you might think the directors would want to change their personal names along with the company name.


----------



## newanimal

*Re: QPN - Quest Petroleum*

.001 sellers almost completely taken out . Why the sudden massive interest? Any thoughts?


----------



## Porper

*Re: QPN - Quest Petroleum*



newanimal said:


> .001 sellers almost completely taken out . Why the sudden massive interest? Any thoughts?




Yes, bargain hunters wanting an out and out gamble...double or bust. Hardly massive interest. $30,000 worth of shares at $0.001...can't get cheaper I'll give you that. Will they be trading shortly, ask yourself that.


----------



## newanimal

*Re: QPN - Quest Petroleum*



Porper said:


> Yes, bargain hunters wanting an out and out gamble...double or bust. Hardly massive interest. $30,000 worth of shares at $0.001...can't get cheaper I'll give you that. Will they be trading shortly, ask yourself that.




I don't know too many folks that throw $10K+ down a hole on a bad gamble at one time (but then I don't hang with elite types). 
Volume has suddenly multiplied exponentially for the past three days.


----------



## basilio

*Re: QPN - Quest Petroleum*

Rise of the Phoenix !!.   Who knows what is happening. 

Wonder if there will be a question from ASX given the doubling of the SP ? It does seem to point to something afoot.

It seems a bit fishy to me.  If in fact there is some significant news and this buying reflects that it is certainly insider trading. If there is nothing new then spending $30k seems crazy ?


----------



## basilio

*Re: QPN - Quest Petroleum*

Ok lets speculate.

The AGM is coming up on Friday 28th Nov. The Board intending to distribute another 1billion shares in lieu of services and then proposes a 20 to 1 share consolidation. 

I suggest that undertaking such an action with a totally moribund SP wouldn't go down well. In that context stirring up the pot with some strong buying could encourage current punters to believe the parrot is indeed still alive. 

There is still $2.7m in QPN accounts and perhaps some valuable leases...


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> Ok lets speculate.
> 
> The AGM is coming up on Friday 28th Nov. The Board intending to distribute another 1billion shares in lieu of services and then proposes a 20 to 1 share consolidation.
> 
> I suggest that undertaking such an action with a totally moribund SP wouldn't go down well. In that context stirring up the pot with some strong buying could encourage current punters to believe the parrot is indeed still alive.
> 
> There is still $2.7m in QPN accounts and perhaps some valuable leases...






AGM one week away, twice (in the last two Quarterly statements) the Company has said they are actively pursuing targets in North America and have played down the activities in Indonesia, it is speculated because of the uncertainty there due to corruption in the highest echelons of O&G. Politically you would assume QPN's management cannot talk about its' activities in dealing with Indonesian authorities for perhaps fear of retribution. It seems to me Indonesia is a non event for the present

So why posters here continue to rabbit on about Ranau is beyond me, from my point of view like most projects in Indonesia it is in abeyance and a waste of oxygen to contemplate  

I have said twice before, "look over the horizon".............. to the USA or perhaps Canada, that may be where something could happen

If posters believe that the Directors and Staff are crooks, as has been insinuated in these columns, then SELL UP immediately (as there are buyers looking to pay .001 cents before the consolidation)

If posters believe that these self same Directors and Staff are positioning QPN for a positive future, hang in there or BUY UP, the shares have been to .012 cents before, if they do that again it will represent a 12 bagger from >001 cents

To quote Dirty Harry "ask yourself, are you feeling lucky"

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

Well Svengali that is certainly another point of view....

I'm not sure how "crooked" the management of QPN is. Frankly they are probably on par with a host of other small oil explorers and miners.  

I think my biggest beef was the way the value of the Ranau leases, the ease of drilling, the confidence in the then known fields *completely disappeared *after the capital raising in 2011. Investors were initially told this was a potentially excellent opportunity with the fair provisos that until you drill and see whats down there you can't be sure.

*They never drilled.* As I said earlier the two possibilities  (or a combination) are

1) The story they fed the investors to raise capital was totally overblown * or*
2) They actually *didn't know *what had to be done or had a reasonable picture of the situation.

Take your pick here - reckless promotion, ignorant research or both.

And by the way when Dirty Harry was asking the perp if he was feeling lucky - it was not intended to encourage optimism.

_____________________________________________________________

I also have a serious question about appropriateness of a CEO drawing $338k in fees or share equivalent in what was a moribund company.  I just cannot see the work or value he achieved for that money. The net result seems to be that as the SP fell the remaining cash assets of the company flowed back to the managing core via share issues.


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> Well Svengali that is certainly another point of view....
> 
> I'm not sure how "crooked" the management of QPN is. Frankly they are probably on par with a host of other small oil explorers and miners.
> 
> I think my biggest beef was the way the value of the Ranau leases, the ease of drilling, the confidence in the then known fields *completely disappeared *after the capital raising in 2011. Investors were initially told this was a potentially excellent opportunity with the fair provisos that until you drill and see whats down there you can't be sure.
> 
> *They never drilled.* As I said earlier the two possibilities  (or a combination) are
> 
> 1) The story they fed the investors to raise capital was totally overblown * or*
> 2) They actually *didn't know *what had to be done or had a reasonable picture of the situation.
> 
> Take your pick here - reckless promotion, ignorant research or both.
> 
> And by the way when Dirty Harry was asking the perp if he was feeling lucky - it was not intended to encourage optimism.
> 
> _____________________________________________________________
> 
> I also have a serious question about appropriateness of a CEO drawing $338k in fees or share equivalent in what was a moribund company.  I just cannot see the work or value he achieved for that money. The net result seems to be that as the SP fell the remaining cash assets of the company flowed back to the managing core via share issues.







When Dirty Harry posed the question, from memory, his gun was out of bullets...... a parallel could be drawn with our position now as shareholders

I feel that the AGM may tell us a tale about what happened for the Ranau drilling not to go ahead, there must be a story to tell, anyone going to this meeting should try and elicit an answer

As to seeing what value Milewski has achieved, we may find out at the AGM the answer to your query, namely was a vote of confidence to shareholders what senior management were/are doing given by their taking shares instead of dwindling cash reserves (I know it seems excessive but look at the position we are all in),

Look at the line up of recipients, Company Secretary Jonathon Whyte, COO Ken Bull (the man who can revive and optimize actual wells), Chairman Gus Simpson, Internationally renowned investor and our adviser Michael Kamis, outside the T20 the legendary Eddie Sugar who charted FMG and Bunnings rise and establishment, ask yourself why do people like Kamis and Sugar take positions, why does Bull stay with the Company at what seemingly is a precarious position

We are certainly cash poor, hopefully we can become asset rich soon

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

Who knows Svengali ?!? Who the hell knows...

I grant you the possibility that the proposed changes will offer shareholders a (small) opportunity to recover some value from what has been a disastrous investment after what appeared to be a very promising start.

I suppose my view after seeing a number of such situations is that ordinary shareholders are the very last people to see value from proposals offered by management and consultants.  Management makes sure it gets its cut.  Consultants and potential partners stake out their claim. Mug punters come a distant last.

What that means in my experience is that whatever proposal comes up it has to be really good to see any dollars floating down to shareholders. This will be particularly apposite in the current market which has almost no speculative intent and where profit takers whip a dollar off the table before it has actually hit the deck..


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> Who knows Svengali ?!? Who the hell knows...
> 
> I grant you the possibility that the proposed changes will offer shareholders a (small) opportunity to recover some value from what has been a disastrous investment after what appeared to be a very promising start.
> 
> I suppose my view after seeing a number of such situations is that ordinary shareholders are the very last people to see value from proposals offered by management and consultants.  Management makes sure it gets its cut.  Consultants and potential partners stake out their claim. Mug punters come a distant last.
> 
> What that means in my experience is that whatever proposal comes up it has to be really good to see any dollars floating down to shareholders. This will be particularly apposite in the current market which has almost no speculative intent and where profit takers whip a dollar off the table before it has actually hit the deck..







You constantly take a morose negative view, like most of the unknowing drones who submit on this and other sites

Think about this........if QPN come out with some positive news in North America and the price rises to say 1 cent (it has been there before) then the capitalized value of the company would be about $30 million. This is chicken feed for a producing company. What if their cap value goes to $60 million, shares would presumably go to 2 cents and EVERYONE would be a winner, it isn't that hard and with the right investment it is achievable

Cross your fingers and wait !!!

Svengali


----------



## Joe Blow

*Re: QPN - Quest Petroleum*



svengali said:


> You constantly take a morose negative view, *like most of the unknowing drones who submit on this and other sites*




Svengali, no need to be insulting. You have your opinions, others have theirs. Discussion and debate is what ASF is all about, not personal attacks.


----------



## basilio

*Re: QPN - Quest Petroleum*



svengali said:


> You constantly take a morose negative view, like most of the unknowing drones who submit on this and other sites
> 
> Think about this........if QPN come out with some positive news in North America and the price rises to say 1 cent (it has been there before) then the capitalized value of the company would be about $30 million. This is chicken feed for a producing company. What if their cap value goes to $60 million, shares would presumably go to 2 cents and EVERYONE would be a winner, it isn't that hard and with the right investment it is achievable
> 
> Cross your fingers and wait !!!
> 
> Svengali




And if they come up with something really, really *great * they could go to $1 and the new company would be worth $4billion !! 

This is a fruitless conversation Svengali. This company is so far off some positive news  it may as well be in the next universe. And unfortunately it starts with some very heavy lead in the saddle - the burnt smell of many fingers. And trying to create $30m of value in  a struggling oil explorer  is  highly ambitious... to say the least Lets just see what happens

Your comment about morose negative views is intriguing. If you care to read back to the earlier chapters of the QPN story you might see I was very enthusiastic about its prospects. The pitch presented to investors was compelling. Many of us, and clearly that included me,  marched in with very high hopes.

On the big picture QPN is not alone in its failure as a prospector and a company.  If most people are looking a bit beaten around the ears its because they have been absolutely creamed in the past few years investing in anything other than the top 20 companies.


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> And if they come up with something really, really *great * they could go to $1 and the new company would be worth $4billion !!
> 
> This is a fruitless conversation Svengali. This company is so far off some positive news  it may as well be in the next universe. And unfortunately it starts with some very heavy lead in the saddle - the burnt smell of many fingers. And trying to create $30m of value in  a struggling oil explorer  is  highly ambitious... to say the least Lets just see what happens
> 
> Your comment about morose negative views is intriguing. If you care to read back to the earlier chapters of the QPN story you might see I was very enthusiastic about its prospects. The pitch presented to investors was compelling. Many of us, and clearly that included me,  marched in with very high hopes.
> 
> On the big picture QPN is not alone in its failure as a prospector and a company.  If most people are looking a bit beaten around the ears its because they have been absolutely creamed in the past few years investing in anything other than the top 20 companies.








I am interested in your assertion that QPN is " so far off some positive news it may as well be in the next universe", you may do well to inform the ASX of this immediately !!!

I read several months ago that in the "penny dreadfuls", 11 company's from a total of in excess of 1100 actual paid a dividend in the last 2013/14 reporting season, THAT'S 1 PERCENT, this is where QPN sits so us pontificating about it may well be fruitless, however for QPN to achieve a capitalization of $30 million is not beyond possibility or hope

As usual, time will tell, and buyers within the last 12 months,(with sellers now unable to get higher than .001 cents), would make a motza if the shares rose to say .006 let alone 1 or 2 cents

I am watching with interest certain of the eminent shareholders list ..... growing..... what drives my interest is (to quote Professor Julius Sumner Miller) why

We shall see what happens in the next 12 months

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

A few more thoughts about QPN,  its future possibilities and the speculative section of the sharemarket at the moment.

1*) The current price of QPN is .001  -   but it likely to fall further.* The recent flurry of interest suggested QPN can be sold at .001  But the Board is proposing a 20-1 consolidation at the upcoming AGM. In theory the new shares would be worth .02c.  In reality I suggest it will settle at substantially less than that figure unless there is some very, very positive news.

*2) What news will boost the SP? *At the very best the Board may come out with a promising new oil prospect. Some leases that have been overlooked, not quite explored whatever. This was the pitch for Ranau.  It is the story for every other small speculative explorer. My thinking is that investors would be extremely cautious about believing another pitch so soon after the current disaster. On the wider picture there have been a host of other small explorers that have pitched  promising stories and have burnt shareholders funds. Consider HOG, MAD, LNC for a start.  And anyway when the pitch has been made  - there will be the inevitable capital raising to pay for all the consultants, surveys, staff and research required to make this fly.

Does this sound familiar? It should because it is what has happened with the previous incarnations of this company and many like it.

*Finally the current market takes any profit as soon as it appears. * Even companies with excellent drilled prospects and seemingly very good value do not hold their SP. I'm looking at BML for example. And in the oil sector the current collapse of oil prices is causing re evaluation of value.

______________________________________________

It will be interesting to see how long the current SP price holds. I just don't have any confidence that .001 will be attainable in teh near future after consolidation.


----------



## basilio

*Re: QPN - Quest Petroleum*

How to move the market in 10 minutes...

I'm surprised (but not really) that suddenly the entire .001 buying list has been cleaned out.

If QPN supporters want to see at least a semblance of life in the current parrot they will have to start some more serious buying.


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> A few more thoughts about QPN,  its future possibilities and the speculative section of the sharemarket at the moment.
> 
> 1*) The current price of QPN is .001  -   but it likely to fall further.* The recent flurry of interest suggested QPN can be sold at .001  But the Board is proposing a 20-1 consolidation at the upcoming AGM. In theory the new shares would be worth .02c.  In reality I suggest it will settle at substantially less than that figure unless there is some very, very positive news.
> 
> *2) What news will boost the SP? *At the very best the Board may come out with a promising new oil prospect. Some leases that have been overlooked, not quite explored whatever. This was the pitch for Ranau.  It is the story for every other small speculative explorer. My thinking is that investors would be extremely cautious about believing another pitch so soon after the current disaster. On the wider picture there have been a host of other small explorers that have pitched  promising stories and have burnt shareholders funds. Consider HOG, MAD, LNC for a start.  And anyway when the pitch has been made  - there will be the inevitable capital raising to pay for all the consultants, surveys, staff and research required to make this fly.
> 
> Does this sound familiar? It should because it is what has happened with the previous incarnations of this company and many like it.
> 
> *Finally the current market takes any profit as soon as it appears. * Even companies with excellent drilled prospects and seemingly very good value do not hold their SP. I'm looking at BML for example. And in the oil sector the current collapse of oil prices is causing re evaluation of value.
> 
> ______________________________________________
> 
> It will be interesting to see how long the current SP price holds. I just don't have any confidence that .001 will be attainable in teh near future after consolidation.







I hope tonight's announcement clears a few matters up

Svengali


----------



## newanimal

*Re: QPN - Quest Petroleum*

Last nights announcement might explain the sudden mystery buying spree. Sounds like a solid 3 phase program for the coming year (i assume 2015) with real drill bits hitting the ground every couple months. True redemption possibly for QPN. I like the First Nation owned JV partnership deal. I wonder if we'll see a sudden cancellation of sell orders in the near vicinity? Pheonix rising?
The SP consolidation strikes me as  potentially a strategic good thing as it puts QPN within qualified reach of certain Instos and sophisticated investors.


----------



## basilio

*Re: QPN - Quest Petroleum*

Well something is happening !! I think that after a number of very expensive experiences with promising oil leases etc, etc I'll take a pass on this one. 

If one looks at the history of these events the  best time to make a dollar  is after the glowing consultant reports come out and before any drilling bits actually hit the ground. Thats when all the new investors have stars in their eyes and are dreaming of instant wealth.  (Yep that was me...)

But... all the best..


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> Well something is happening !! I think that after a number of very expensive experiences with promising oil leases etc, etc I'll take a pass on this one.
> 
> If one looks at the history of these events the  best time to make a dollar  is after the glowing consultant reports come out and before any drilling bits actually hit the ground. Thats when all the new investors have stars in their eyes and are dreaming of instant wealth.  (Yep that was me...)
> 
> But... all the best..








Cannot believe the correspondence since the announcement came out, everyone ponder these points

1/     The lands are in a safe country, Canada, owned by the original owners, our partners, so no Indo style shenanigans,(financial graft or legal) regarding land tenure. The two jurisdictions we are working in are like chalk and cheese, I am still looking forward to find out what happened in Indonesia, when /if we do you might understand why we had "a very expensive experience with promising oil leases"

2/     It says the cost of a four well drilling program is $700,000, has been planned and takes 6 to 8 weeks to complete
They could go to the local bank and borrow the money on a credit card........no new share dilution needed !!!!! money lenders will be lining up around the corner 

Congratulations should go out to management for this sensational development, it could be humungus to say the least, 

Look back and see that the last two quarterlies alluded that they were looking to undertake what has now evolved in spades, every one was told so to speak but many wouldn't listen and wished to believe the worst. I hope posters didn't fall for their rationale

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

Settle Petal....

Quest now has a new venture, a new chapter, a new story. 

It is a loooonnng way off actually achieving a financial result for anyone other than the consultants, drill operators, management, directors and financiers.  Not to mention of course sharebrokers and akin.

Some years ago I would have been interested in this pitch. But frankly every single story presented by an oil explorer "looks good" .  

*It has to look good. *The whole point of the process is to persuade lots of people to invest in the possibility that this time it will be different. We will strike a gusher that will make us all rich....

This is 2015 not 1945 . The gushers have all been found. What remains are the possibilities of odd fields in difficult locations that could make a few dollars. It will be questionable whether the costs of exploration, drilling, management will allow any substantial profits to flow to investors beyond short term share spikes.

All the best though. I sincerely hope that at least this time Quest shareholders see some drilling for their dollars.


----------



## basilio

*Re: QPN - Quest Petroleum*

There is also the unfortunate reality that oil prices are falling at the moment which will have to result in some recalculation of potential value in drilling in far north Canada. Certainly going to be pain for energy companies and share prices in the short term.


----------



## basilio

*Re: QPN - Quest Petroleum*

The switch has been thrown!! QPN has just doubled in price since the JV announcement.

So folks if you are astute enough to get in early on the canniest oil play since (insert any date..) there are 61 mil shares at .002 looking for a fresh start.

(If you start buying I reckon another couple of hundred million might fall your way..)


----------



## svengali

*Re: QPN - Quest Petroleum*

Basilio,

I must say your posts perplex me, nothing personal, as many of the posters about QPN do.

I fully realize the consternation that is prevalent concerning QPN fueled by a seemingly not very active announcement regime from HQ, but I will suggest there may be a reason for this

You admonish management about this release of Thursday night,(seems tom me it is a gigantic game changer), you seem to think it is just a sop for management/staff and sub contractors with fatuous statements like"there are no more gushers"/ oil prices are falling/there are 61 million shares at .002 looking for a fresh start etc., etc..

An acquaintance of mine who is a large shareholder attended the AGM, went into it concerned, came out with Gus' words ringing in his ears..... low risk/low cost/high return, so bring it on I say

61 million shares at .002 is $122,000.00, chicken feed in the scheme of things, I have a friend who has more than this number !!!

The fall in oil prices is just the OPEC leaders trying to exert pressure on new producers, the'll be the first to up prices when it suits them, this is purely transitory believe me  

Your attitude although poses some questions in my mind

Firstly, please tell us what are your credentials in the mining of oil, particularly in the Canadian sand belt which has apparently 167 BILLION barrels in reserve, second only to Saudi Arabia, nearby companies are now producing 40,000 barrels per day, (bpd), with projection at some nearby well areas going to produce 90,000 bpd, WHATS NOT TO LIKE ????

Secondly,we have just signed the joint agreement with the local tribal holders of the land on Thursday (so no information could be given out until the night before the AGM), apart from giving us an entree into an apparent lucrative site, it ensures that we will not go through the unseemly land tenure problems of the corrupt Indonesian scenario. I was informed yesterday from a chap employed by big company in that unfortunate country, that the newly elected President has been totally emasculated by the opposition run Parliament and they are demanding that all foreign owned companies give the locals 60% ownership, if so then that's the end of Indonesia economically, they will need even more foreign aid to stay afloat.....what a joke and we are well rid of them and the sooner we sub out Ranau the better

Let me say in closing that I  am anxious to see how management finance our progression, I am sure there will be enough suitors with money to allow us to expand without having to water down the share register any more

The management and staff are to be congratulated for their endeavors, I queried Milewsky's performance, to him (not on some site being faceless), and I now feel that he seems to have done a sensational job, a coup in fact

I suggest you take these events in a positive fashion, if people can't see positives in what has happened then the consolidation gives them all a way out........they'll never be happy and they can sell

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

Sevengali  I also am a bit perplexed by what I perceive as your very Pollyannish approach to the announcements made by  the new Quest.

Firstly ( as I said previously..)* good luck* to all current and new shareholders. I sincerely mean that.

Nonetheless I totally stand by my observations about the nature of all small oil explorers predictions about the "promising nature" etc of their new leases.  As I explained I was well and truly sold on the previous promotion of the Indonesian leases.  That was also extremely positive in terms of

1) Excellent prospective areas that were still largely untouched
2) Great results from surrounding large oil players
3) Simple, easy drill location with a high chance of gas/oil find.

Check it out again if you wish to confirm.  

On a broader note I have seen and been involved in a number of similar scenarios . HOG, MAD, JPR, LNC energy and others have had "great prospects". Sadly none have flourished despite initial enthusiasm and some early promising finds.

This goes to my final point. * This is 2015 (almost)  not 1945*. The world has been scoured for large easy to find oil reserves. There is some oil left but the probability of finding an easy gusher is, in my view, remote.  Not impossible of course but unlikely.

What is certain is that there is a substantial amount of associated costs with looking for this oil. These have to be found and paid for - regardless of the result.

I would also suggest that just because it might only take a few weeks to actually drill for the oil doesn't mean it will happen quickly.  Organization, weather, permits, studies, etc etc will take time.  I wouldn't be holding my breath on a quick result.


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> Sevengali  I also am a bit perplexed by what I perceive as your very Pollyannish approach to the announcements made by  the new Quest.
> 
> Firstly ( as I said previously..)* good luck* to all current and new shareholders. I sincerely mean that.
> 
> Nonetheless I totally stand by my observations about the nature of all small oil explorers predictions about the "promising nature" etc of their new leases.  As I explained I was well and truly sold on the previous promotion of the Indonesian leases.  That was also extremely positive in terms of
> 
> 1) Excellent prospective areas that were still largely untouched
> 2) Great results from surrounding large oil players
> 3) Simple, easy drill location with a high chance of gas/oil find.
> 
> Check it out again if you wish to confirm.
> 
> On a broader note I have seen and been involved in a number of similar scenarios . HOG, MAD, JPR, LNC energy and others have had "great prospects". Sadly none have flourished despite initial enthusiasm and some early promising finds.
> 
> This goes to my final point. * This is 2015 (almost)  not 1945*. The world has been scoured for large easy to find oil reserves. There is some oil left but the probability of finding an easy gusher is, in my view, remote.  Not impossible of course but unlikely.
> 
> What is certain is that there is a substantial amount of associated costs with looking for this oil. These have to be found and paid for - regardless of the result.
> 
> I would also suggest that just because it might only take a few weeks to actually drill for the oil doesn't mean it will happen quickly.  Organization, weather, permits, studies, etc etc will take time.  I wouldn't be holding my breath on a quick result.






Basilio

As you nothings quick for certain, I was just on the phone for over half an hour with Gus Simpson, now that was illuminating !!!! no offence meant here but rather than chat back and forth, I know where they have come from and where they are trying to go

All the best

Svengali


----------



## prawn_86

*Re: QPN - Quest Petroleum*



svengali said:


> Basilio
> 
> As you nothings quick for certain, I was just on the phone for over half an hour with Gus Simpson, now that was illuminating !!!! no offence meant here but rather than chat back and forth, I know where they have come from and where they are trying to go
> 
> All the best
> 
> Svengali




Why don't you illuminate us then? I am sure that he didnt disclose anything market sensitive so there is no reason it cannot be included on this forum...


----------



## basilio

*Re: QPN - Quest Petroleum*

There is another thing that concerns me regarding the latest proposition from Quest.

It seems the new drills will be in areas using the CHOPS process. Essentially they are trying to separate oil mixed with sand.

This is not a conventional oil drill aka Saudi Arabia ie  drill, hit oil, gusher pipe and sell. It is far more capital intensive and results in less yields.  It will cost a lot more to develop and the net result for investors is far more problematic. This is particularly the case with the current falling price of oil.

Obviously we shouldn't presume oil prices will stay low.  But when one is analysing costs and returns you have to pay some attention to current figures.

I wouldn't necessarily expect the Directors to have an economic case worked out for this new proposition. But perhaps investors should be asking  questions like

1) What are the costs and returns of similar CHOPS development in the region ?
2) At what volumes of oil flow would the drills be economically viable?
3) At what oil price would the developments be profitable?
4) How does Quest intend to finance the development (as distinct from the drilling) of the new prospects ?

Any thoughts Svengali ?


----------



## svengali

*Re: QPN - Quest Petroleum*



prawn_86 said:


> Why don't you illuminate us then? I am sure that he didnt disclose anything market sensitive so there is no reason it cannot be included on this forum...




I have researched the Company and kept in contact and worked with other like minded people FOR YEARS, all the information is out there as to where the Company is going ............ you go and do the research and draw your own conclusions

Svengali


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> There is another thing that concerns me regarding the latest proposition from Quest.
> 
> It seems the new drills will be in areas using the CHOPS process. Essentially they are trying to separate oil mixed with sand.
> 
> This is not a conventional oil drill aka Saudi Arabia ie  drill, hit oil, gusher pipe and sell. It is far more capital intensive and results in less yields.  It will cost a lot more to develop and the net result for investors is far more problematic. This is particularly the case with the current falling price of oil.
> 
> Obviously we shouldn't presume oil prices will stay low.  But when one is analysing costs and returns you have to pay some attention to current figures.
> 
> I wouldn't necessarily expect the Directors to have an economic case worked out for this new proposition. But perhaps investors should be asking  questions like
> 
> 1) What are the costs and returns of similar CHOPS development in the region ?
> 2) At what volumes of oil flow would the drills be economically viable?
> 3) At what oil price would the developments be profitable?
> 4) How does Quest intend to finance the development (as distinct from the drilling) of the new prospects ?
> 
> Any thoughts Svengali ?







Basilio

I have conversed with you over the last few weeks, trying to raise certain points

The Company has now been able to release information as to what has been and is doing,

The questions you have raised should be posed to management for their elucidation. By point of fact your question one (1) has been covered in the Company announcement, Gus informed me of estimated flows, remember we have a T20 holder carrying out the works on the project and Ken Bull is closely involved, you can work out question 3 from information given and tying it in with present world prices. It is fairly predictable how they will raise funds to progress, remember Gus said at the AGM we have got a"low cost/low risk/ high profit situation"..........nuff said, all go away and put on your thinking caps ........... if you reckon it is as the doom sayers say then sell, if you reckon there is an upside at .001 and you believe the management and Directors (with their skin in the game) are doing their best for shareholders, then hold or buy.......... IT'S THAT SIMPLE

Friends and I have researched and followed this Company for years, most of are behind at the moment like everyone else, we're are hanging with full hope

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

Sven I think you should be careful about posing the question of an upside from .001. As you are aware the shares are being consolidated at 20 to 1 .  There is still significant downside possible if the consolidated shares fall below .02.

Also there is no way anyone will simply accept the assurances of Gus the director that this is a "low cost/low risk/ high profit situation" .  I'm sure you would anticipate and expect more tangible information rather than broad stroke comments particularly given the high risk nature of the enterprise and the previous experience of the company.

Good luck!


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> Sven I think you should be careful about posing the question of an upside from .001. As you are aware the shares are being consolidated at 20 to 1 .  There is still significant downside possible if the consolidated shares fall below .02.
> 
> Also there is no way anyone will simply accept the assurances of Gus the director that this is a "low cost/low risk/ high profit situation" .  I'm sure you would anticipate and expect more tangible information rather than broad stroke comments particularly given the high risk nature of the enterprise and the previous experience of the company.
> 
> Good luck!









Basilio

This company has had to up sticks and leave Indonesia, if we were still trying to operate meaningfully there we would have folded by now

Many people are extremely irate with the company because of the total lack of disclosure, perfectly understandable, but we shouldn't let this cloud our judgement when it comes to our present and future position

Searching for a new line of growth as a provider of services led QPN to a few failures to connect in the US and finally this Cold Lake scenario

The Cree tribe, who has received royalties for gas from their lands, wished to participate in the search/production and sale of their own asset in oil. QPN , as I have stated before, has the right team led by Ken Bull and the Apex sub contractors led by Michael Kamis (a QPN T20 holder) to be the working partner with the indigenous owners

Management and staff, in my opinion, are to be congratulated for getting us to this point, it is now up to every individual shareholder to have a point of view as to whether they will succeed, and hold or sell accordingly

To reach this point of decision making get all the information you can. Start by reading the company announcement regarding   QUEST PETROLEUM JOINT VENTURE, contact HQ for a paper OIL SANDS FACT AND FICTION and Google in ALBERTA OIL SANDS, this should start to give you an understanding of our potential and fill in some of your "broad strokes"

Don't worry about the oil price scenario, this is only transitory and the Saudis will soon HAVE TO push the price back up to $100 a barrel, Google an article RED IS THE NEW BLACK on DAILY RECKONING

The upside of this could be astronomical

Good luck

Svengai


----------



## prawn_86

*Re: QPN - Quest Petroleum*



svengali said:


> Don't worry about the oil price scenario, this is only transitory and the Saudis will soon HAVE TO push the price back up to $100 a barrel, Google an article RED IS THE NEW BLACK on DAILY RECKONING
> 
> The upside of this could be astronomical
> 
> Good luck
> 
> Svengai




LOL 

Oil sands are one of the hardest and most expensive (not to mention polluting) ways to extract oil. Anyone thinking that an oil sands play is a good one in this climate should just invest in oil directly rather than a company which has an additional layer of risk.


----------



## svengali

*Re: QPN - Quest Petroleum*



prawn_86 said:


> LOL
> 
> Oil sands are one of the hardest and most expensive (not to mention polluting) ways to extract oil. Anyone thinking that an oil sands play is a good one in this climate should just invest in oil directly rather than a company which has an additional layer of risk.






Thanks for your knowledge and financial advice, I appreciate them

Let us know, when the share resumes trading, that you have sold out and are backing your thoughts with action and I hope you do not take to big a hit. If you stay in it would make this last post of yours look pretty hollow but what the heck

A chap I know has bought 30 million heads at .001 in the last week or so, reckless,maybe, but if you are wrong and the Cree tribe/QPN conglomerate succeeds, we will have to contact him in the Bahamas because he will make millions

If a nearby company is knocking out 40,000 barrels a day, and we can grow the company to 500 wells say at 70 barrels per well, (their estimate per well), think about the capitalized value then. There will be no problem raising capital to set up the wells, think about it, say 70 barrels by 330 days @$25 (they a saying the going rate of costs is $25 per barrel, and I'm only claiming a $50 barrel sale price) equals $577,500 annual income per well............cost per well from Phase 3 onwards estimated at $600,000 DO THE MATHS

Using the latest technology it should be recoverable without undue pollution, the Indians think so, Apex Mining think so, the Alberta authorities think so as it is now common drilling practice in the Canadian oil sand belt

As I said let us know the sale of your holding

Svengali


----------



## Porper

*Re: QPN - Quest Petroleum*



svengali said:


> A chap I know has bought 30 million heads at .001 in the last week or so, reckless,maybe, but if you are wrong and the Cree tribe/QPN conglomerate succeeds, we will have to contact him in the Bahamas because he will make millions




Classic lines.


----------



## basilio

*Re: QPN - Quest Petroleum*

It will be interesting to see how the Phoenix stacks up after consolidation. 

Svengali I am amazed that the Quest management is talking about 500 wells at 70 barrels per well a day as being the basis of their plan. That is one expensive build in the far north of Canada.  Just cannot imagine how it will ever do more than cover the quite significant development/ maintenance/management tax costs/royalties that are involved.

And of course they have yet to prove the volumes and longevity of the proposed wells.

The current price of oil certainly won't help.


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> It will be interesting to see how the Phoenix stacks up after consolidation.
> 
> Svengali I am amazed that the Quest management is talking about 500 wells at 70 barrels per well a day as being the basis of their plan. That is one expensive build in the far north of Canada.  Just cannot imagine how it will ever do more than cover the quite significant development/ maintenance/management tax costs/royalties that are involved.
> 
> And of course they have yet to prove the volumes and longevity of the proposed wells.
> 
> The current price of oil certainly won't help.







Basilio,Basilio,Basilio

Read what I said and get your reply to it correct please

 1/..... I wasn't told of any number regarding future wells nor did I allude that I had been told, I just used a supposed 500 well figure, it could be 100 or 50 or 20 or 1000. Have you taken a satellite close up look at the territory we are working in ? some eventual 800,000 plus acres with a delivery of one well per 20 acres......WORK OUT THE POTENTIAL, there are gas diggings every where !!

 2/.....It was intimated to me that the daily output could be 60 to 80 barrels per well, this will be indicated I presume with the results from Phase 1, ie. 4 extensions of existing gas wells, and Phase 2, ie. 13 new wells. You would think they can work out longevity from yields and pressure measurements. To help you cost things, QPN's advisers estimate costs at US$25 per barrel

 3/..... The "expensive build" costs you allude to are ALL costed in the Company announcement 

 4/..... The price of oil is being manipulated by Saudi Arabia to stifle the growth of oil production in sites in Russia, the USA, Canada etc., they will only keep that up for a while. It is estimated the Saudi need US$95 to balance their books, today's price is only temporary, BUT if you think it is going to be the norm...........SELL YOUR QPN TODAY

You seem to be just concocting repetitive negative situations regarding QPN when answers to your statements and queries have been published ....... give us the courtesy of doing the required and available reading before posting  

Svengali


----------



## svengali

*Re: QPN - Quest Petroleum*



svengali said:


> Thanks for your knowledge and financial advice, I appreciate them
> 
> Let us know, when the share resumes trading, that you have sold out and are backing your thoughts with action and I hope you do not take to big a hit. If you stay in it would make this last post of yours look pretty hollow but what the heck
> 
> A chap I know has bought 30 million heads at .001 in the last week or so, reckless,maybe, but if you are wrong and the Cree tribe/QPN conglomerate succeeds, we will have to contact him in the Bahamas because he will make millions
> 
> If a nearby company is knocking out 40,000 barrels a day, and we can grow the company to 500 wells say at 70 barrels per well, (their estimate per well), think about the capitalized value then. There will be no problem raising capital to set up the wells, think about it, say 70 barrels by 330 days @$25 (they a saying the going rate of costs is $25 per barrel, and I'm only claiming a $50 barrel sale price) equals $577,500 annual income per well............cost per well from Phase 3 onwards estimated at $600,000 DO THE MATHS
> 
> Using the latest technology it should be recoverable without undue pollution, the Indians think so, Apex Mining think so, the Alberta authorities think so as it is now common drilling practice in the Canadian oil sand belt
> 
> As I said let us know the sale of your holding
> 
> Svengali






Prawn

Have you sold yet ???????????

Svengali


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> It will be interesting to see how the Phoenix stacks up after consolidation.
> 
> Svengali I am amazed that the Quest management is talking about 500 wells at 70 barrels per well a day as being the basis of their plan. That is one expensive build in the far north of Canada.  Just cannot imagine how it will ever do more than cover the quite significant development/ maintenance/management tax costs/royalties that are involved.
> 
> And of course they have yet to prove the volumes and longevity of the proposed wells.
> 
> The current price of oil certainly won't help.






Basilio

Did you read RED IS THE NEW BLACK from DAILY RECKONING as I suggested yesterday, that should guide you as to the longevity of the Saudi manipulation of the oil price

Svengali


----------



## svengali

*Re: QPN - Quest Petroleum*



svengali said:


> Basilio
> 
> Did you read RED IS THE NEW BLACK from DAILY RECKONING as I suggested yesterday, that should guide you as to the longevity of the Saudi manipulation of the oil price
> 
> Svengali






To followers of this QPN thread

We are dealing with a Cree First Nation group who have had an active gas production operation for 25 odd years and still have 23 producing wells as we speak. Phase 1 in our immediate plan is to re enter 4 or more of the tribes closed down gas wells

Roll on

Svengali


----------



## basilio

*Re: QPN - Quest Petroleum*

Svengali you are clearly totally sold on this deal and over the fullness of time we will see what sort of real return is accrued to shareholders.

I don't expect to change your mind but in this forum I try to bring the range of experiences I have had investing (and mostly losing) money in spec oil explorers. It's not necessarily for your benefit; really its sharing perspectives for all readers who can take on board what they wish.


----------



## svengali

*Re: QPN - Quest Petroleum*



basilio said:


> Svengali you are clearly totally sold on this deal and over the fullness of time we will see what sort of real return is accrued to shareholders.
> 
> I don't expect to change your mind but in this forum I try to bring the range of experiences I have had investing (and mostly losing) money in spec oil explorers. It's not necessarily for your benefit; really its sharing perspectives for all readers who can take on board what they wish.







Basilio

At last, after a few weeks, your position has finally become clear and I commend you for your honest announcement

Not once did you put forward ANY credible positive evidence, just queries as to the site, the politics and Cree tribe position on the sand mining, the costings, the history of the foray into Indonesia, etc., etc..

Having that attitude is alright and let me tell you I have invested in some interesting "pennies" as well (but in every case they have been in the black at some stage of my ownership), but I firmly believe this play will work

The basis of being with this company now as they head into Canada is their history of being in Indonesia has to be scrubbed out of investors mindset, for a myriad of reasons (yet to be disclosed) the money chewing time spent in that unfortunate country is history. I am the first to say that the information to shareholders was minimal to say the least, extremely disappointing in fact, but I also take solace in the fact that we couldn't, and can't, go headbutting the Sovereign State we reside in.... time will tell the story there

In closing I am not "totally sold on this deal" as you declare, but I am extremely positive on its prospects, and I confidently follow the chairmanship of Gus Simpson, he battled and won against insurmountable odds with PEN in the USA, and this QPN play is chicken feed compared to that saga

Don't be like Prawn and sell out Basilio, sit back and watch it roll on

Svengali


----------



## newanimal

*Re: QPN - Quest Petroleum*

Anyone know why QPN chart is not currently accessible on ASX? I've seen no notice from QPN or ASF  about being in some transitional phase regarding company name change and such.


----------



## System

On December 15th, 2014, Quest Petroleum NL (QPN) changed its name and ASX code to Indus Energy NL (IND).


----------



## basilio

Well the new phoenix is now Indus Energy.  It is currently running at .008c which given the 20-1 consolidation  means it is less than half the final SP of .001.

It will be interesting to see how management deals with the current crash in oil price. In my view drilling for shale oil in far north Canada with numerous low yield wells at the current price ...... is not going to be profitable.  The figures just won't stack up.


----------



## svengali

basilio said:


> Well the new phoenix is now Indus Energy.  It is currently running at .008c which given the 20-1 consolidation  means it is less than half the final SP of .001.
> 
> It will be interesting to see how management deals with the current crash in oil price. In my view drilling for shale oil in far north Canada with numerous low yield wells at the current price ...... is not going to be profitable.  The figures just won't stack up.




Interesting to see you back again Basilio

I obviously follow IND as I regard it as a sleeper (not yet comatose), but I find your post somewhat disconcerting. 

The crash in oil prices, if it continues, is going to bring governments to their knees and wipe them out, companies are going to fold all over the place, oil investors in general are going to be decimated

THIS IS THE USA (and by association Canada) VERSUS SAUDI ARABIA........THE US IS GOING TO MAKE ITSELF SELF SUFFICIENT !!!

Understand, the US and Canada are basically interlinked, the US does not allow export of oil, this is not contrary to international trade, it is in house.

These are bigger issues than we can even contemplate on this site, however let's look at a few of your statements anyway

Firstly the share price of .008 cents is just a total falsehood obviously created by manipulators. Sales for the last 3 trading days number 51 shares, TOTAL VALUE 40.8 CENTS, and you seem to want to use this as worth taking on as significant. I regard the real fact is these are actual no trade days not the end of the world and not unusual, actually for penny dreadful followers this is an rare buying opportunity

You should perhaps do further research on the intentions on IND in Alberta, this is NOT a shale oil play, but an oil sand play, big difference

Reputedly these oil sands from that area can be extracted for some $25 per barrel. Even adding on overheads of say $15 pb the estimated total of $40 pb

IF THE PRICE OF OIL DROPS TO $40 PB LOOKOUT, IF IT GOES TO $20 PB (as has been speculated) THEN BUY UP CANNED FOOD FOR THE LARDER AND A GUN TO DEFEND YOU AND YOURS

Interesting few months coming up

Svengali


----------



## basilio

Svengali your quite right about the impact of an extended period of low oil prices.  It would be catastrophic and Indus is but a speck of dust on that issue.

Fair comment on the oil sand vs oil shale statement. I still understand that the costs of extracting oil from the oil sand wells  in far North Canada will be substantially higher than many other locations. Which is the point I was making.

The current SP? Sure only a few shares sold but it doesn't look as if serious buyers are wanting to offer more than .008  to  .01 at this stage.

I suppose the critical question is if/when Indus management make  a statement about where they are going in light of the current oil price. I just can't see any sane oil explorer starting exploration and drills in the current climate.


----------



## svengali

basilio said:


> Svengali your quite right about the impact of an extended period of low oil prices.  It would be catastrophic and Indus is but a speck of dust on that issue.
> 
> Fair comment on the oil sand vs oil shale statement. I still understand that the costs of extracting oil from the oil sand wells  in far North Canada will be substantially higher than many other locations. Which is the point I was making.
> 
> The current SP? Sure only a few shares sold but it doesn't look as if serious buyers are wanting to offer more than .008  to  .01 at this stage.
> 
> I suppose the critical question is if/when Indus management make  a statement about where they are going in light of the current oil price. I just can't see any sane oil explorer starting exploration and drills in the current climate.




Basilio

I reiterate, costs in the area IND are pursuing with their Cree partners have been estimated at $25 per barrel (bd), now that world oil prices have descended to around $60, and may go lower, there are going to be some hard decisions made all around the world

But IND's position hasn't changed at all in my opinion, they are commencing drilling their Phase 1 and it's initial costs are accounted for, Phase 2 will then commence and that is partially covered, if Phase 1 comes up roses, say 80 barrels per well per day then income for that would be 320 bd @ $60 = $19,200 @ 80%(IND take) = $15360 per day @ 30 days = $460,800 per month

Now if that Phase 1 income proves true, and if Phase 2 brings on 13 more wells with the same income stream then you would have 17 wells @ 80 bd = 1360 bd @$60 = $81,600 @ 80% (IND take)= $65,280 pd @30 days = $1,958,400 per month

These are IND best case figures certainly, BUT HAVE A THINK !!!! (vary these figures as oil goes up or down)

Milewski has posed the question "how would you like to invest in a company that is already producing a profit ?", WELL HERE IT IS, so after the final agreement is signed in mid January we enter the next chapter. 

Here is my kicker.

WHAT IF IN PHASE 2, BY HAVING NUMEROUS HORIZONTAL LINES (UP TO 10 PER WELL), THE INDIVIDUAL WELL OUTPUT GOES UP 2 TO 10 TIMES PER WELL. (Do you see one of the world leaders in horizontal drilling, our own Ken Bull, helping advise operations done by Apex Drilling (managed by a large IND shareholder Michael Kamis)

Don't talk about the share price, at this  point in time it has nothing to do with the development of IND from where our gains will come from, as I said it is just a buying opportunity

Svengali


----------



## mobcat

Nice Vol today and depth has been building all day,maybe something is happening in QPN, about time hey.


----------



## mobcat

Sure is sleepy town IND i must be the only one holding , up well over 100% in the last few days and at least that makes me happy, i think i am going to have my own little party here WoooooHoooooo:jump::guitar::bier::alcohol::band:sleeping:


----------



## svengali

basilio said:


> Svengali your quite right about the impact of an extended period of low oil prices.  It would be catastrophic and Indus is but a speck of dust on that issue.
> 
> Fair comment on the oil sand vs oil shale statement. I still understand that the costs of extracting oil from the oil sand wells  in far North Canada will be substantially higher than many other locations. Which is the point I was making.
> 
> The current SP? Sure only a few shares sold but it doesn't look as if serious buyers are wanting to offer more than .008  to  .01 at this stage.
> 
> I suppose the critical question is if/when Indus management make  a statement about where they are going in light of the current oil price. I just can't see any sane oil explorer starting exploration and drills in the current climate.




Basilio (and Prawn if he is still a holder)

The announcement today regarding positioning with the Cree tribe with IND, change in Directors with the retirement of two incumbents, and the inclusion as director a legal expert in indigenous dealings as well as financial and drilling matters is sensational news

The statement says that IND with its indigenous partner are going to take advantage of the low world oil price per barrel to enlarge our holdings and head towards the mid tier position extrapolated by Gus Simpson quite some time ago is great news.

Of particular interest is the seeming extension of low cost re drilling of "gas wells" in a large way, this opens up the horizon of the perfect way to enlarge the operation at a bargain price ........... you beauty !!! 

Contrast this with the former QPN's (now IND) dealings in the unfortunate Indonesia. Every shareholder should send personal thanks to Milewski for re positioning the Company into Canada, the move saved the Company and has set it on the path to prosperity

Bring it on  

Svengali


----------



## mobcat

This was on HC worth a read.


FYI


Indus Energy NL ASX:IND) formerly Quest Petroleum (ASX:QPN) has provided an strategic update on the binding term sheet signed with First Nations Exploration Company, Keyano Pimee Exploration Company Limited (KPECL), on its Alberta Oil Sands Project in Canada.

The agreement is to farm in to 82,290 acres of Cold Lake oil sands in Alberta.

Since the signing of the term sheet, Indus has held several meetings with KPECL and associated Cree Nations Chiefs in Alberta and negotiations have now advanced towards finalising and executing the Joint Operating Agreement. 

This provides Indus with an opportunity to partner with a Cree First Nations oil exploration and gas production company that owns a large scale, multi target, drill-ready land position in a significant oil and gas producing location in Canada’s first ranking oil production province.

Once the JOA is executed, Indus will commence Phase 1 of the work program which will consist of low cost re-entry of four historic wells in areas where oil occurrences have been encountered during gas production activities on KPECL lands.

Priority is to look at a program of low cost re-entry wells while also taking advantage of the current market conditions which is seeing debt forced divestiture of land positions in the Cold Lake Area of Interest (AOI).

This provides a significant opportunity for acreage covering known heavy oil sands occurrences, already been freed up, to be snapped up at low acquisition and holding costs to add to existing and planned joint land positions.

This would result in the added benefits of the phase 2 conventional vertical well program being scheduled over a larger geographical area with the aim of delineating significantly increased reserves for similar expenditure


Due diligence

Extensive due diligence has already been completed by the company’s project advisors, Alberta based Apex Energy Consultants ,including the evaluation of over 1,000 production wells and associated data within or in close proximity to the Project areas and AOI. 

Upon the signing of the JOA the Company expects to move rapidly forward with Phase 1 and the additional land acquisition programs.


Strategy

Indus is looking at acquisitions where the current project economics still provide optimal terms even at currently depressed oil prices. 

KPECL and the Company are working together to ensure that the JOA enshrines this flexibility and that any associated work programs are profitable at current oil prices as well as look for additional opportunities in the region.


Board appointment

Indus has appointed Marcus Gracey to the Board as a non-executive director. Gracey is a commercial and corporate lawyer and currently the business development manager and general counsel at New Standard Energy (ASX:NSE) and a non-executive director of Sunbird Energy (ASX:SNY). 


Analysis


In the current market of low oil prices Indus, the JV partners have an opportunity to acquire "distressed" properties prospective for oil sands in Alberta at potentially bargain basement prices. 

The farm in to 82,290 acres of Cold Lake oil sands in Alberta, Canada is a material agreement.

The Cold Lake region is contributing an estimated 500,000 bopd and is one of three major oil sands deposits in Alberta. Alberta ranks first in crude oil reserves and production in Canada.

Significantly, Cold Lake recovery economics demonstrate viability even at current oil prices and the likelihood of a speedy, low-cost pathway to production revenues for Indus and KPECL.

This provides valuation potential significant for the junior with a market cap of circa $4 million in the short to medium term. It also provides a workable plan and a platform for Indus to accelerate plans to becoming a North American oil producer.

With the focus on achieving low cost production in Alberta, a review of its Indonesian assets is underway.

The addition of Marcus Gracey to the board of directors is an impressive addition where Gus Simpson of Peninsula Energy (ASXEN) fame and Anthony Milewski round out an experienced energy board.


----------



## Joe Blow

Mobcat, please provide a link to the original source material where possible.

The content in mobcat's post was sourced from here: http://www.proactiveinvestors.com.a...s-to-snap-up-alberta-sands-assets--60189.html


----------



## mobcat

No problem JB


----------



## basilio

Well something is stirring in Indus land.

For all shareholders sake good luck. But putting on my critical hat I have strong reservations.

It's obvious that at current oil/gas prices drilling and development of new resources is problematical. I note the comments that suggest the viability of drilling ect even at the current low price levels.

I would take such comments with a LARGE grain of salt. Simply speaking *they actually havn't drilled, proven the resource and sold a barrel of oil. It's purely a  hypothetical paper figure*.  It also doesn't say "how viable" ie is there a significant profit and  does it include the upfront drilling costs.
*
Certainly they couldn't suggest that drilling wouldn't be profitable could they they ?*

Anyway the gist of the release is that they won't be seriously drilling for oil and gas at this stage but simply buying up lots and lots of distressed surrounding acreage. My questions would be

1) There will be a cost to these buy ups.  Just how much will that be?

2) What will be the current running costs ie Board and management fees of the new company? How does  that compute against the  current cash in the bank ?

3) If, if they do drill...is there any realistic way the company can undertake drills at the moment and  *perhaps* find sufficient oil/gas to cover drill, infrastructure costs, taxes and have something left over ?

Good luck to all...


----------



## svengali

basilio said:


> Well something is stirring in Indus land.
> 
> For all shareholders sake good luck. But putting on my critical hat I have strong reservations.
> 
> It's obvious that at current oil/gas prices drilling and development of new resources is problematical. I note the comments that suggest the viability of drilling ect even at the current low price levels.
> 
> I would take such comments with a LARGE grain of salt. Simply speaking *they actually havn't drilled, proven the resource and sold a barrel of oil. It's purely a  hypothetical paper figure*.  It also doesn't say "how viable" ie is there a significant profit and  does it include the upfront drilling costs.
> *
> Certainly they couldn't suggest that drilling wouldn't be profitable could they they ?*
> 
> Anyway the gist of the release is that they won't be seriously drilling for oil and gas at this stage but simply buying up lots and lots of distressed surrounding acreage. My questions would be
> 
> 1) There will be a cost to these buy ups.  Just how much will that be?
> 
> 2) What will be the current running costs ie Board and management fees of the new company? How does  that compute against the  current cash in the bank ?
> 
> 3) If, if they do drill...is there any realistic way the company can undertake drills at the moment and  *perhaps* find sufficient oil/gas to cover drill, infrastructure costs, taxes and have something left over ?
> 
> Good luck to all...







Bas

I'm thinking the only way you will ever be positive is if you win Tatts, and even then only when the cheque has been cashed

The cost per barrel apparently will be all up $31/32 per barrel, at that figure despite what you infer IT IS PROFITABLE

There will NEVER have been a well in all history that made money on day one..... NEVER

I have been told by the highest authority that Phase 1 costs are covered and the majority of Phase 2 costs are covered, and the best intimation in released papers is that the enlargement of the conversion of finished "gas wells" to oil wells for about $200K each can be undertaken, and they apparently have hundreds even thousands of such wells in their new Cree  partners controlled areas ....... how hard will it be to raise commercial finance for dozens or hundreds of these

IND has been maneuvered into a once in a lifetime chance

I admit here I have bought more heads in the last few weeks, and advised friends and business acquaintances to buy in, we are all laughing, I hope no one listened to the knockers and left themselves out of the loop

Watch and learn

Svengali


----------



## svengali

svengali said:


> Bas
> 
> I'm thinking the only way you will ever be positive is if you win Tatts, and even then only when the cheque has been cashed
> 
> The cost per barrel apparently will be all up $31/32 per barrel, at that figure despite what you infer IT IS PROFITABLE
> 
> There will NEVER have been a well in all history that made money on day one..... NEVER
> 
> I have been told by the highest authority that Phase 1 costs are covered and the majority of Phase 2 costs are covered, and the best intimation in released papers is that the enlargement of the conversion of finished "gas wells" to oil wells for about $200K each can be undertaken, and they apparently have hundreds even thousands of such wells in their new Cree  partners controlled areas ....... how hard will it be to raise commercial finance for dozens or hundreds of these
> 
> IND has been maneuvered into a once in a lifetime chance
> 
> I admit here I have bought more heads in the last few weeks, and advised friends and business acquaintances to buy in, we are all laughing, I hope no one listened to the knockers and left themselves out of the loop
> 
> Watch and learn
> 
> Svengali









As an adjunct to recent correspondence about IND, it is interesting to note that the company has held its price (.02 cents plus) after being attacked fleetingly, this is interesting insomuch that often after consolidation prices drop and stay down

The quarterlies give hints as to what may be occurring. It states that the appointed operator, APEX, has studied over 1000 of our own "gas wells", IND are looking to buy nearby distressed oil sand sites, (if these companies only have say 50/200 sites they may probably be uneconomic and only a nearby large site holder could operate them profitably.......IND)

Ask yourself why, as announced, they are looking to enlarge their resource now, would they do so if they didn't have good knowledge of what lay below ?, they must be confident of receiving financial backing to undertake enlargement 

We know that these "gas wells" are going to cost about $180K to bring to production, let's do some sums. If the wells produce 70 bpd and the net profit is $15 per barrel then the profit per day would be $1050 meaning it would take around 170 days to pay back the set up costs !!! get the picture ..............what if oil rises to say $65 pb, that means the payback time would be 78 days production

On top of this it may be that as of the last few days the price of oil may have bottomed out and started to rise again, if as estimated IND can produce for $31/32 per barrel and the Phase 1 gas wells that are unilaterally seeping oil deliver say 70/100 bpd then we are in a whole new ballgame

It seems to me that the constant "carpers" who criticize, sell out etc. may be about to miss the boat, this is shaping as a one hundred bagger...... do the sums. I think the management have and placed IND in the prime barrier position and they are on a Black Caviar (Texas tea)

Bring it on 

Svengali


----------



## mobcat

I couldn't of put it better if i tired Sven  she could be a boomer IND in the fulness of time ,iam sure happy being a holder


----------



## Mr Jed

We are now in a very interesting period for IND.

Critical to moving forward is the signing of the Joint Operating Agreement. The announcement on the 19th of January alluded to strategy changes and since then we have heard nothing from the company which would indicate there have been problems.
The quarter ends in three weeks and one month after that should reveal where the company intends to find some money for operating expenses at least.
While some credit goes to Directors and Employees who salary sacrificed varying portions of their fees to improve cash flow the fact is they are now at the pointy end where this is simply not enough.

While the Company has always promoted its potential and the Oil Sands Venture seems a masterstroke, the clock is ticking and we will hopefully find out very soon whether investors are going to obtain any benefit going forward or whether most will have to wear some large losses.


----------



## svengali

Mr Jed said:


> We are now in a very interesting period for IND.
> 
> Critical to moving forward is the signing of the Joint Operating Agreement. The announcement on the 19th of January alluded to strategy changes and since then we have heard nothing from the company which would indicate there have been problems.
> The quarter ends in three weeks and one month after that should reveal where the company intends to find some money for operating expenses at least.
> While some credit goes to Directors and Employees who salary sacrificed varying portions of their fees to improve cash flow the fact is they are now at the pointy end where this is simply not enough.
> 
> While the Company has always promoted its potential and the Oil Sands Venture seems a masterstroke, the clock is ticking and we will hopefully find out very soon whether investors are going to obtain any benefit going forward or whether most will have to wear some large losses.






Mr. Jed

Your summation is basically right

A soon as the MOA is signed things can move forward in the field and the share price can find its right price 

I have been watching a new program on pay TV.... the Russian News.... it gives a far more independent look at things and yesterday I was watching an expert talk about the fix that the oil fracking industry is in. 
Most of the startups of fracking came in at US$90 plus, he said they are doomed as will be start ups $US50 to the said US$90

Meanwhile the IND sand play, with all costs included comes in at US$32/33

Watching what happens will be interesting from now on in

Svengali


----------



## Mr Jed

It *IS* right Svengali not _basically_ right.

The company is going nowhere without a Joint Operating Agreement. That is a priority and it appears the company is being tested with this. Then there is operating expenses and where they are coming from.
The cone of silence has descended again just like it did when there were problems in Indonesia.
The company is in limbo. Shareholders are in limbo. Strong leadership and communication is required. 
The Company didn't have it before and the current question is ….Do they have it now?


----------



## mobcat

Mr Jed said:


> It *IS* right Svengali not _basically_ right.
> 
> The company is going nowhere without a Joint Operating Agreement. That is a priority and it appears the company is being tested with this. Then there is operating expenses and where they are coming from.
> The cone of silence has descended again just like it did when there were problems in Indonesia.
> The company is in limbo. Shareholders are in limbo. Strong leadership and communication is required.
> The Company didn't have it before and the current question is ….Do they have it now?




I think the latest Ann answers all the question , nice road forward for IND if the wind blows the right way $$$ to be made here by the looks of things , it would be worth doing some DD on IND atm if there are any peeps


----------



## Mr Jed

mobcat said:


> I think the latest Ann answers all the question , nice road forward for IND if the wind blows the right way $$$ to be made here by the looks of things , it would be worth doing some DD on IND atm if there are any peeps




Still some work to be done Mobcat. JOA is way overdue. That doesn't bide well for the forecasted Phase 1.
Time will tell, and the Company is very experienced at using time.


----------



## svengali

Mr Jed said:


> Still some work to be done Mobcat. JOA is way overdue. That doesn't bide well for the forecasted Phase 1.
> Time will tell, and the Company is very experienced at using time.




Mr Jed, there has been some work done by successfully divesting the Ranau lease in indonesia to a Russian cartel with a purported 10% royalty, this agreement is yet to be signed but if it is we are well out of that region, let's hope the signing is not "imminent"

As you observed, the JOA was not signed at the time of your 18MAR15 post and now it is heading for another month, the 12JAN15 prognostication for this is starting to look extremely distant, someone from the Company tell me it is closer than our aforementioned good old traditional "imminent". 

A huge upside is possible upon signing and when/if drilling gets underway with successful results, even at todays low barrel price

Bring it on.........please

Svengali


----------



## Mr Jed

svengali said:


> Mr Jed, there has been some work done by successfully divesting the Ranau lease in indonesia to a Russian cartel with a purported 10% royalty, this agreement is yet to be signed but if it is we are well out of that region, let's hope the signing is not "imminent"
> 
> As you observed, the JOA was not signed at the time of your 18MAR15 post and now it is heading for another month, the 12JAN15 prognostication for this is starting to look extremely distant, someone from the Company tell me it is closer than our aforementioned good old traditional "imminent".
> 
> A huge upside is possible upon signing and when/if drilling gets underway with successful results, even at todays low barrel price
> 
> Bring it on.........please
> 
> Svengali




Still waiting Sven…….zzzzzzzzzzzz


----------



## svengali

Mr Jed said:


> Still waiting Sven…….zzzzzzzzzzzz






So am I

Svengali


----------



## tech/a

svengali said:


> So am I
> 
> Svengali




What are you waiting for?

Your trading a stock which on a good day turns over $20,000 in a days trading!


----------



## svengali

tech/a said:


> What are you waiting for?
> 
> Your trading a stock which on a good day turns over $20,000 in a days trading!







Tech/a

In actual fact the value of daily trades this year is about $2050.00,(therefore about 101,600 shares.........approx. .0065% of issued shares), the whole capital/share volume is immaterial with IND, that is why a JOA agreement with the owners may well give investors a large immediate gain and then the results from Phase 1 obviously will be critical, then Phase 2 as well, if they are successful then financing will fall into place after that  

It's up to all individual shareholders if they are up for the punt or not............. but those pundits who pontificate as if these volumes are life threatening on such infinitesimal volume/value are talking through their backsides

***** Note WBC dropped over 3.3% today on trade volume against issued shares of .00352%, bear in mind they are worth some $35.50 EACH, everyone get a grip !!!!! *****

Svengali


----------



## tech/a

My apologies
Clearly I've mis understood the
Punting aspect of your posts.

Some one wins the lottery most every week.

I'm sure you send all those emails in my junk box every night!


----------



## svengali

tech/a said:


> My apologies
> Clearly I've mis understood the
> Punting aspect of your posts.
> 
> Some one wins the lottery most every week.
> 
> I'm sure you send all those emails in my junk box every night!






No, my apologies, I didn't realize a few pertinent facts,(not punting), would so raise your ire

Just looked up your history of posts to get a hand on things.

You seem like a poor mans Alan Jones, no matter what comes up you have an opinion. 

Spare us poor "punters" puulease

Svengali


----------



## tech/a

Yeh your right.
I'll keep out of the penny section

I suggest anyone serious about trading
Does the same.

Punters---this is heaven
Like attracts like.


----------



## Boggo

How many more name changes is it going to have ?

Has gone from AZL to NEO to QPN and now IND


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## svengali

tech/a said:


> Yeh your right.
> I'll keep out of the penny section
> 
> I suggest anyone serious about trading
> Does the same.
> 
> Punters---this is heaven
> Like attracts like.






Apparently you're not in the penny section I assume, why then do you keep pontificating about our "penny dreadful" IND, saving us from ourselves like the ubiquitous shock jocks

It better not come good !!

Svengali


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## tech/a

svengali said:


> Apparently you're not in the penny section I assume, why then do you keep pontificating about our "penny dreadful" IND, saving us from ourselves like the ubiquitous shock jocks
> 
> It better not come good !!
> 
> Svengali




Your trying to trade a stock which today 
Traded $ 4

Yeh it's a penny
It's a joke
It's a waste of band width


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## svengali

tech/a said:


> Your trying to trade a stock which today
> Traded $ 4
> 
> Yeh it's a penny
> It's a joke
> It's a waste of band width







As a guy who posts about 30 times a week (averaged over 10 years for goodness sake), you should have gotten your facts exactly right.

In actual fact, the gross turnover yesterday was $4.08 and not $4.00/your deduction that it is a penny in the accepted sense it being a "penny dreadful" I assume is a major deduction for one so long a poster but, yes it could be accepted as correct this time/ the share could be considered a joke but this summation should then have been connected to your calling it a "waste of band width", an opinion at this point in time and not a fact until it completely fails or conversely succeeds in some form and gives the shareholders a profit 

Don't think for a moment I am mocking you, it could be reasonably assumed you are doing that to yourself with your posts, at present and historically

I shall await for you to post something factual/inquisitive/ about the running of IND, goodness knows the management and board have much to explain to us punters

You sound like you don't have much to do but you could think about getting a life

Svengali


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## skyQuake

svengali said:


> As a guy who posts about 30 times a week (averaged over 10 years for goodness sake), you should have gotten your facts exactly right.
> 
> In actual fact, the gross turnover yesterday was $4.08 and not $4.00/your deduction that it is a penny in the accepted sense it being a "penny dreadful" I assume is a major deduction for one so long a poster but, yes it could be accepted as correct this time/ the share could be considered a joke but this summation should then have been connected to your calling it a "waste of band width", an opinion at this point in time and not a fact until it completely fails or conversely succeeds in some form and gives the shareholders a profit
> 
> Don't think for a moment I am mocking you, it could be reasonably assumed you are doing that to yourself with your posts, at present and historically
> 
> I shall await for you to post something factual/inquisitive/ about the running of IND, goodness knows the management and board have much to explain to us punters
> 
> You sound like you don't have much to do but you could think about getting a life
> 
> Svengali



pot and kettle comes to mind


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## tech/a

I detect the raw nerve of a novice.
Sarcasm ( my specialty ) personal
Slights and insult.

Stocks still a dog 

Now I'm deeply hurt and in
Need of therapy.


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## Boggo

New punters should have to read all of the RED and PEN threads as part of their indoctrination


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## svengali

tech/a said:


> I detect the raw nerve of a novice.
> Sarcasm ( my specialty ) personal
> Slights and insult.
> 
> Stocks still a dog
> 
> Now I'm deeply hurt and in
> Need of therapy.







Still waiting for something critical of those who run IND, where it is going, where it should go and how........not a word regarding those points

To comment about the pathetic $4.08 daily turnover (price manipulation, what are the authorities doing about this ?) etc is a waste of space. If someone follows a share then do research and find out what is or is not happening, now that is what one wants to see

I await

Svengali


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## tech/a

So the idea is to fully research companies for
Opportunities to buy something that represents outstanding value
With the outlook of making a profit.

You seemed to have started posting in this thread around 12 mths ago.
So before then and through that time it's pretty safe to assume you've
Been diligently pouring over this company.

Your conclusion appears to be one of value as you are positive toward 
The company the whole Time you've been here.

However in that time the company has dropped 400 %
4 cents to 1 Cent.

Of course you see the falling price as even better value.
I see a few others lost an arm and probably a leg buying Millions of these shares
At such a bargain price.

So clearly you and those who read the same stuff you do are very bad at it!
Or
Delusional ------ convinced that everyone else is wrong and the price is dropping because
-----they just can't read balance sheets or company announcements.--- like you can.
Or
You really believe positive expectancy is expecting price to rise.
Or
You talk the talk and just gamble. Theory sounds intelligent---practice---that's a little more difficult.

Mind you one in 100 could turn a few k into 10 k

Carry on.


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## butcher

Is it finally over ?


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## svengali

tech/a said:


> So the idea is to fully research companies for
> Opportunities to buy something that represents outstanding value
> With the outlook of making a profit.
> 
> You seemed to have started posting in this thread around 12 mths ago.
> So before then and through that time it's pretty safe to assume you've
> Been diligently pouring over this company.
> 
> Your conclusion appears to be one of value as you are positive toward
> The company the whole Time you've been here.
> 
> However in that time the company has dropped 400 %
> 4 cents to 1 Cent.
> 
> Of course you see the falling price as even better value.
> I see a few others lost an arm and probably a leg buying Millions of these shares
> At such a bargain price.
> 
> So clearly you and those who read the same stuff you do are very bad at it!
> Or
> Delusional ------ convinced that everyone else is wrong and the price is dropping because
> -----they just can't read balance sheets or company announcements.--- like you can.
> Or
> You really believe positive expectancy is expecting price to rise.
> Or
> You talk the talk and just gamble. Theory sounds intelligent---practice---that's a little more difficult.
> 
> Mind you one in 100 could turn a few k into 10 k
> 
> Carry on.













Ah tech

What an erudite piece you write highlighted by such terms as "delusional"/"positive expectancy"/"gamble"

Actually I and various cohorts have poured over this company, chatted at times to the Chairman and Managing Director and all I can say is they have publicly stated what they are trying to achieve and if/when they sign the final agreement with the Cree tribe it will be an interesting time to say the least........ a group of us own 7/8% of the shares and 20% of the options, don't forget to post about us if this penny dreadful pulls it off !!!

While you're beavering away over your computer pulling apart this company think about this..... in the last year .06% of the company's issued shares were traded sometimes as a gross amount as little as $45.00 dropped the price 20%, just think about BHP's trades in the same time where 28% of their listed shares were traded in the last 12 months and it has dropped $4.90 that's some $15.74 billion

If this share goes from the latter day price of .008 cents to 016 cents,(easily achievable on an agreement being announced) that would be the equivalent of BHP going from todays $28.61 to $57.22, you're seemingly a self appointed guru, what do you think ????

To prove a point, why don't you go out in the last 3 trading days of this week and buy 1 million shares ( a measly .06% of the company), the price would go up to 2/3/4 cents !!

Grow up

Svengali


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## skyQuake

What an absolute gem of a stock.

ANZoil -> Nuenco -> Quest Petroleum -> Indus Energy.

I challenge you to find a more value destructive stock. This one's not quite dead, and just keeps sucking and sucking lifeblood from any investors.

Adjusted for consolidations there was half a TRILLION shares on issue!

See attached


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## skc

skyQuake said:


> What an absolute gem of a stock.
> 
> ANZoil -> Nuenco -> Quest Petroleum -> Indus Energy.
> 
> I challenge you to find a more value destructive stock. This one's not quite dead, and just keeps sucking and sucking lifeblood from any investors.
> 
> Adjusted for consolidations there was half a TRILLION shares on issue!
> 
> See attached




Lol. Iress might crash from that number if the shares weren't consolidated. It's doing everyone a favour.


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## mobcat

What the!!!  up 133% today about, time IND had some love  wonder if something is foot its been while since this mob has done anything but nothing... it,s overdue some news on this bad boy IND


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## mobcat

*Re: IND - Indus Energyo*

Shes on the move again IND with absolutely no news lets hope this move has some foundation its been a long wait this one but at the current level its a arbatage trade good buying IMO for whats possible if we ever do something


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## Purd2

*Re: IND - Indus Energyo*



mobcat said:


> Shes on the move again IND with absolutely no news lets hope this move has some foundation its been a long wait this one but at the current level its a arbatage trade good buying IMO for whats possible if we ever do something




I have met Gus a number of times and get on well with him. I recently sent an e-mail of congratulations to him in regard to PEN.ASX being permitted to mine at Lance uranium mine. I scantly mentioned IND at the end of the e-mail and this is his response

_[/Thanks Purdy. I think we have done well with IND doing nothing in this market. But we keep looking at things and know what we are looking for, just haven’t found it yet.

Regards

Gus

 So there it is from the horses mouth. I might add that he did say to a friend of mine that he had enough capital invested in IND that were not going to give it up. (My way way of expressing his ideas)


PEN will be listed on NYSE very soon and should make good gains. Cheers P

I]_


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## mobcat

This ones a sleep dont hear anything anymore, it seems we dont do anything anymore but draw down capital and listing costs what ends up happening do they de list and return funds in the bank to the holders ?


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## mobcat

Strangely since i posted at the end of last month there has been some abnormal volume of trading in IND, you could nearly say renewed interest not huge volume but at least some volume and increasing depth, around $25k of buying in one day last Friday i see, again not huge $ but better than has been the last 12 months and on a increased share price, lets hope its a whisper from head office that something maybe happening at long last, and if only they would announce something because the shell is cheap cheap it,s a arbitrage trade at the current share price


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## mobcat

mobcat said:


> Strangely since i posted at the end of last month there has been some abnormal volume of trading in IND, you could nearly say renewed interest not huge volume but at least some volume and increasing depth, around $25k of buying in one day last Friday i see, again not huge $ but better than has been the last 12 months and on a increased share price, lets hope its a whisper from head office that something maybe happening at long last, and if only they would announce something because the shell is cheap cheap it,s a arbitrage trade at the current share price




Up Nearly 80% now on fair volume relative to shares issued, i have been in this one for a while but this do,s seem strange of late its like some one is taking a large stake in this shell atm before a ann??? i could be wrong but i have seen it before a movement in share price a month before a positive ann fingers and toes crossed hey


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## Mr Jed

A bit of interest with this one. Now trading at what would appear fair value for a shell but attracting buying activity while the company is doing some dd. Is the cat out of the bag?


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## mobcat

Yes Jed the cat is out of the bag and this dog is chasing it, this mob has just failed again to get a deal on table that's 3 in a row over 5 years now, these sort of people running IND should be taken to task by ASIC


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## Mr Jed

Your dig is viewed as a trifle unfair Mobcat given you are answering a comment some nine months ago!
The comment was a fair account at the time. As for the people running it all responsibility should be aimed at Gus Simpson as he has essentially ruled the Boards. I am not convinced all hope is lost as Simpsons reputation in giving shareholders value is hardly inspiring re (PEN) and I would expect he could get some runs on the Board with IND and runs would convert to $$ as he has lost on this one as well.


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## mobcat

Don't hold our breath I would say Jed !!!! 5 years to do nothing on Simpsons and crews began behalf just shows how useless he is and all he is proven is that he can accomplish is nothing but waste shareholder invested funds and for absolutely no return or even get a project further than words on paper , absolutely useless that's all I can say, if they weren't in a halt for the last 7 months I would of dumped IND long ago !


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## Dona Ferentes

IND Indus Energy  ... delisted from the commencement of trading on Wednesday 6 November 2019, pursuant to Listing rule 17.12.

a new incarnation for the ASX code

*Industrial Minerals Ltd -* 

*Listing date*23 July 2021 11:30AM AEST ##*Company contact details*https://www.industmin.com/
Ph: +61 8 6270 6316*Principal Activities*Mining exploration*GICS industry group*TBA*Issue Price*$0.20*Issue Type*Ordinary Fully Paid Shares*Security code*IND*Capital to be Raised*$5,000,000*Expected offer close date*21 July 2021*Underwriter*Not underwritten. CPS Capital Group Pty Ltd (Lead Manager)


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