# PRM - Prominence Energy



## yogi-in-oz (22 May 2007)

Hi folks,

SUR ...  nice hammer candle with extra volume, just one day ahead
of a lunar aspect on Tuesday, expected to bring us some news, to
trigger two other positive time cycles, too ... 

happy days

paul



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## wipz (6 November 2007)

HI guys, i am so impressed with CVN success I thought id do some research and came accross this:

"Carnarvon Petroleum Limited has submitted an application with the Department of Mineral Fuels (“DMF”) in Thailand for concession rights in petroleum exploration and production for the area known as Block L20/50 (“the Concession”) onshore Thailand in the Phitsanulok Basin on behalf of a joint venture comprising Carnarvon and Sun Resources NL (“Sun Resources”). Carnarvon and Sun Resources are the only applicants for this block.

Carnarvon and Sun Resources (“the Joint Venture”) have each applied for a 50% participating interest in the Concession if granted. Carnarvon has applied as the Operator. The Concession covers an area of 3,947 km ² and is located approximately 50 km west of Carnarvon’s current permits onshore Thailand. The Concession is also around 30km southeast and on trend with the large onshore Sirikit oil and gas fields which have produced over 150 million barrels of oil to date and are still producing at 20,000 barrels of oil per day (bopd).

The DMF is now considering the application and the Joint Venture will be informed of the status of the bid in due course.

Carnarvon’s Managing Director, Mr Ted Jacobson, commented: “We have been encouraged by our successful operations in our two exploration permits in the adjacent Phetchabun Basin to seek out other similar opportunities onshore Thailand. Our initial work indicates that the application area L20/50 possesses very similar geology to that in the Phetchabun Basin. The Concession is well located being in close proximity to the large Sirikit oil field to the north, with a rail line and oil pipeline passing through the Concession allowing quick tie-in to existing infrastructure in the case of a discovery. If an exploration permit is granted, Carnarvon will operate the joint venture.”

SUR could be a very cheap entry into the Thai oil fields.

http://www.scandoil.com/moxie-bm2/financial/politics_/carnarvon-bids-for-onshore-permit-thailand.shtml


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## wipz (6 November 2007)

Just a follow up fellas, the outcome for the applications for the L20/50 block are expected to be released October/November (per company website).  And to get a feel for where we sit in relation to the CVN block, have a look at the following link:

http://www.sunres.com.au/pdf/Company%20Summary%20of%20Activities%20L2050.pdf


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## ta2693 (6 November 2007)

It is an interesting company. but it takes time for market to weak up and realize its value.
I think the current market price does not reflect its new successful rate in Tailand after CVN's discovery. it takes time for market to rerate it. 

I am in and bullish on this one.


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## ta2693 (8 November 2007)

sur's trading behavior is suspicious. I feel pros are accumulating it. 
Hold well in today's bear market.


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## wipz (8 November 2007)

Bit of interesting reading:

*Thailand leasing round gains additional bids*

"By an OGJ correspondent
BANGKOK, Aug. 30 -- Thailand's Department of Mineral Resources has received three additional applications in its 20th round of petroleum concession bidding, raising the total number of applicants to 31 involving 24 tracts. 

The second monthly submission deadline that ended on Aug. 15 saw Mitra Energy Ltd. of Kuala Lumpur, Malaysia, vying with Singapore-based Pearl Energy—the 50:50 Australian partnership of Carnarvon Petroleum Ltd. and Sun Resources NL—and its subsidiary Pearl Oil (Petroleum) Ltd. 

Pearl Energy applied for L20/50, a 3,947-sq km onshore block in the central plains. 

Pearl Oil bid for Block G2/50, a 1,123-sq km tract that encompasses three areas in the Gulf of Thailand near the Thai-Cambodian disputed waters. 

Mitra Energy sought onshore Block L45/50, covering an area of 3,983-sq km west of Bangkok. 

The first submission of the 20th round ended July 16. In that tender, 28 petroleum companies submitted applications for 21 exploration blocks—14 onshore and 7 in the Gulf of Thailand (OGJ Online, July 26, 2007). 

Date  31 August 2007" 

Source: http://www.dmf.go.th/events/news.show_news_eng.asp?id=10376

So this means that SUR and CVN are not the only ones applying for L20/50 as disclosed on their webby. Interesting.
Anyone know much about PEARL ENERGY?
Any thoughts?

Interesting link regarding 19th and 20th bidding round in Thailand - who is where etc
http://www.ctlo.com/data/Krairit%20Nilkuha%20AIPN%20Meeting%2015%20May%2007.pdf


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## wipz (8 November 2007)

Im confused right now, as per http://www.dmf.go.th/bid20/ doesnt state anything about Pearl Energy applying for L20/50.
Maybe we do have got it locked in?


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## wipz (9 November 2007)

Sun resources up 15% today so far, too bad i dont have any cash to get in at the moment, really worrying im going to miss out on cheap entry to this one. Smart investors are buying up while she remains under the radar IMO.


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## ta2693 (9 November 2007)

I know it is going to weak up. But I do not expect it comes so soon. It is on the edge of breaking out now.


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## wipz (9 November 2007)

SUR got a bit of attention today, hit 10c on decent volume, no announcement.
Maybe punters are getting on board as the outcome of the L20/50 application (50% JV with CVN) in Thailand shall be announced any day now.
Still looking to get in.


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## wintermute (9 November 2007)

I suspect it is because Bondi just spudded (though I think news on Thailand is due mid to late November).  It is unusual lately for the price to spike like this.... usually nothing happens when they spud, and the price stays the same or goes down when they have a success   Could also be because the long anticipated cap raising has gone ex entitlement, and people are no longer holding off till they knew what the placement price was. 

Holding, and hopeful that the market is finally waking up to how undervalued SUR is considering recent successes (and potential if other prospects come off), which seem to have  had no positive effect on the sp. 

Tony.


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## wipz (9 November 2007)

Im hoping she drops back so i dont have to pay through the eyeballs to get in, but damn the chart looks good.
Shes smashed through the BB on solid volume, moving averages and DMI look awesome.
Really hope she doesnt follow this trend in the ST!


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## wintermute (10 November 2007)

me being the conservative type think that it has gone a bit too hard (I prefer a slow and steady climb), I reckon we will see more gains on Monday and possibly into the week next week but a pullback is surely on the cards, how far though is any body's guess.  

Its been depressed for so long now, that it is probably like a coilled spring, will shoot up rapidly, then come back and bounce up and down a few times before coming to an equilibrium.... 

Tony.


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## wipz (29 November 2007)

At CVN's AGM today, Ted mentioned that the L20/50 application result will be out January 08. cheers fellas


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## ta2693 (14 December 2007)

I feel professional are accumulating it again. I think the discovery of CVN on 4000bpod increase odds of cvn and sur proposed land success.
The L20/50 is in between two large oil field. i looks very promising to me.


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## wipz (14 December 2007)

I agree with you on that one, I still dont hold, there will be a quiet period before the storm IMO.
DYOR


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## ta2693 (14 December 2007)

What are you waiting Mr Wipz. I bought some after your post when the price is 8.5c. I will buy more if it can break 14c. it seems 14c is another decisive point.


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## ta2693 (16 December 2007)

SUR 29m market cap at 13c
The Concession covers an area of 3,947 km² and is located approximately 50 km west of Carnarvon’s current permits onshore Thailand. The Concession is also around 30km southeast and on trend with the large onshore Sirikit oil and gas fields which have produced over 150 million barrels of oil to date and are still producing at 20,000 barrels of oil per day (bopd).
New finding on cvn about 4000 bopd . it is a very good result for onshore oil field.
Thailand Department of Mineral Fuels has commented that this is the highest flow rate ever achieved by any oil well drilled onshore Thailand.
Given the highly positive correlation between the flow rate and oil reserve in land. and the size of the land is similar to Sirikit oil and gas field I think the oil land has at least 100m barrels oil. given $20 per barrel EV. the Oil filed is valued at $2000m. CVN 40% is about 800m. CVN is about 480m market cap at 70c. If all assumption is true, CVN should be above $1.

the oil field continuity is very high. Sur is only 30m. if it find 100m barrel oil. 
sur has 50% shares. then the it will bring $1000m for cvn and $1000m for sur
Sur will rise from 13c to $3.9. and cvn will rise from $1 to $2 range.
if the find is only 10m barrel. then it will bring cvn $100m and sur $100m 
will not have much impact on cvn, but sur can rise from 13c to 39c. still a very good return. given the L20/50's location is in between two above 100m barrel large oil field and similar size of field. It is very likely to find 100m barrel rather than only 10m. 

the cvn following drilling new come out next week. The market will wake up very soon. 

Besides, from trading behavior, I found someone are accumulating it. The seller is very little even in friday's strong bearish market condition. 
I notice someone come and bought more than 1000000 units at open in a trade, which is very very suspicious. who will put such a big money in small shares like SUR if he do not know what he was doing. I only seen this kind of out of pattern trading when RVR was about 17c. and it shoots to 60c later in a month. 


If it can breaks 14c, it will got another technical confirm of breaks out. let us wait and see whether it can give us breaks out signals next week.


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## Miner (16 December 2007)

ta2693 said:


> SUR 29m market cap at 13c
> The Concession covers an area of 3,947 km ² and is located approximately 50 km west of Carnarvon’s current permits onshore Thailand. The Concession is also around 30km southeast and on trend with the large onshore Sirikit oil and gas fields which have produced over 150 million barrels of oil to date and are still producing at 20,000 barrels of oil per day (bopd).
> New finding on cvn about 4000 bopd . it is a very good result for onshore oil field.
> Thailand Department of Mineral Fuels has commented that this is the highest flow rate ever achieved by any oil well drilled onshore Thailand.
> ...





Dear Ta
In short what time frame you are suggesting to get the high rise price for SUR and CVN ?
If it is in next three months should I buy the share of any red wine winery as well (just joking).
Please TELL US more on your research !

Regards


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## wipz (17 December 2007)

Ta your right.  But to me its about time value of money, unless we see a major break out on SUR I will remain on the side lines.  If granted the JV wont be drilling for at least 1 year, there will be quiet times ahead to accumulate (all other things remaining constant). 
IMO, DYOR


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## Trader Paul (22 December 2007)

Hi folks,

SUR ... here's some astroanalysis, over the next few months:

          02012008 .....  minor and negative

          10012008 .....  minor and negative

       15-16012008 ..... significant and positive aspect

          22012008 ..... major and negative news here ???

       04-05022008 ..... more negative news ???

       08-11022008 ..... minor and negative ... finances???

          04032008 ..... major and negative  - finaces???

       06-10032008 ..... 2 cycles - negative news ???

     1703-02042008 ..... 4 time cycles come together here,        
     with more negative news expected, around 28-31032008. 

First signs of recovery for SUR should come, in April 2008:

      08-09042008 ..... positive spotlight on SUR ... 

      11-14042008 ..... positive news expected

      18-22042008 ..... 2 positive cycles ... finances???

      24-28042008 ..... negative news expected.

      09-12052008 ..... negative spotlight on SUR

happy days

 paul



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## wildmanchris (7 January 2008)

News release out this morning - looks  like they have been awarded the field with CVN - good news for SUR!!!!


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## Riles (7 January 2008)

Absoutely! I was starting to wonder what was going on with the award of the concession. It seems others were just starting to bail out recently out of despair- the price hitting .98 today.

This is great news for now for SUR  and CVNand it will be interesting to see how exploration in this new field plays out.

Hopefully they can get the old well up & running which will help fund further drilling.

Good luck to all holders


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## Riles (7 January 2008)

SUR has 173m shares including latest placement to cover bond for this block.
At current .115c equals market cap of $20m

CVN has 680m shares fully diluted.
At current .75c equals market cap of $510m

If this new JV can emulate the success that CVN has had with POE to date - say 8000-10,000 bopd - (4-5000 bopd each), then we could effectively see CVN's SP add another 75c.

If SUR's market cap was to match CVN's at present, SUR's share price would be $2.94.


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## Riles (7 January 2008)

That last post was wrong about the no. of shares for SUR.
They now have 225m listed shares, not 173m as I stated.

So 225m at current .12c equals $27m market cap.
Still around 18 times less than CVN.

If it is ever able to attain the same maket value that CVN is now ($510m) without further dilution the SP would be $2.26.

Wishful thinking but not beyond the realms of possibility.
Wake me up in a couple of years...


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## INORE (9 March 2008)

Hartleys recomend SUR as a spec buy as seen in the West Australian 6/3/08

better late than never...


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## INORE (8 April 2008)

I like the conclusion of this report

Conclusions
Sun’s asset portfolio has an attractive level of diversification with: mature producing assets in the USA;
development options for its producing assets, which could double revenues in the next financial year;
*exploration opportunities in the USA that have the potential to double or triple the share price in the shortmedium
term;* company making potential in the recently awarded onshore Thailand block, with drilling possible
late this year; and a sleeping elephant in Malta that also has company making potential. Sun is looking to
emulate the success of Carnarvon, who delivered up to a 7X return on investment during 2007, whilst at the
same time has limited downside risk exposure through increasing levels of production in the US. These factors
make Sun an attractive investment in this end of the market and we rate Sun Resources Limited a Speculative
Buy. Valued at 17-23cps.


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## INORE (4 May 2008)

Well I'm glad I made the switch from iron to oil last year as it's great to see recommended buys like this one in todays West Australian...

SUN RESOURCES

Hartleys recomends a speculative
purchase of Sun Resource(SUR),estimating shares in the company are worth up to *23c a share.*
"Suns core assets at Flour Bluff,
Margarita and Lake Long are valued
at about 13c per share at current gas
prices," Hartleys said. "This is a significant
premium to the current share
price. The company also has significant upside in the USA that my be realised this year, as well as company
making potential in Thailand".
Hartleys said Suns L20/50 block in
Thailand is an opportunity similar
to oil explorer Carnarvon's success
that resulted in Carnarvon's share
price rising fron 7c to a peak of 70c
within a year. *Sun lifted lC to 9c.*


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## hangseng (5 May 2008)

INORE said:


> Well I'm glad I made the switch from iron to oil last year as it's great to see recommended buys like this one in todays West Australian...
> 
> SUN RESOURCES
> 
> ...




Yes SUR has caught my eye. SUR has every chance to be the same sp as CVN according to all reports as indicated above. Simply a must have for me at these prices, SUR looks quite positive.


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## hangseng (5 May 2008)

hangseng said:


> Yes SUR has caught my eye. SUR has every chance to be the same sp as CVN according to all reports as indicated above. Simply a must have for me at these prices, SUR looks quite positive.




Investor presentation just out with roadshow about to commence. I can't believe my timing 

SUR has fantastic prospects and still a very low market cap. Now for more reading.


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## INORE (5 May 2008)

NICE gain today with no late sell of's...unfortunately I sold a third of my stock in this last week to get some more CVN but still very happy with the strength in todays trading....a consistent high volume would be nice over the next week or so to cement it above that old 10c pain barrier.


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## Riles (5 May 2008)

Yep it looks like the latest Hartleys report and newspaper article may have created a flurry of interest.
All out in time for the roadshow presentation - which has Hartleys contact details at the bottom...

I've just read the preso - nothing to get excited about for a while yet, biz as usual in US this year with a 3d seismic and a few wells to come this year.

A lot of comparison to CVN - they even show the CVN price chart.
Fair enough, I bought into SUR solely for the L20/50 Thailand block JV with CVN.
I see big upside potential for this one when they start drilling - but that won't be till after they've shot the 3d seismic March next year. (apart from the one re-drill slated for later this year).

In the meantime I see upside mainly from the fact they are trading at a discount to Hartley's current valuation(17-23cps), and also from any further successes that CVN may encounter - which people will see as being promising for SUR.

By the time they are ready to drill L20/50, CVN will have a wealth of experience to bring to the drilling campaign -  knowing how to interpret the seismics and understanding the volcanics.All leading to more probability for success.


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## derbon99 (6 May 2008)

I have monitored this company for a few months now. The potential is huge but I think it need time. My first idea was to wait till Q3 to invest. Unfortunately with the sharp last days gain I was forced to buy to avoid loosing the amazing leverage effect. 

See you at the end of 2009


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## INORE (5 June 2008)

the managing director of sun has a talk on boardroom radio today...


http://www.brr.com.au/event/45666


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## hangseng (7 June 2008)

INORE said:


> the managing director of sun has a talk on boardroom radio today...
> 
> 
> http://www.brr.com.au/event/45666




And what timing, not surprising Hartleys placed SUR as a buy recommendation see below . 

Announcement out. 
This is excellent news and raising the capital in the manner they have with secured notes at 55c or conversion into 5 shares at 11c with minimal shares dilution (at 11c conversion is only 36.6m shares). This is positive news for holders and it progresses the Thailand holdings. SUR is about to embark on an excellent ride along with CVN.

*RE: SUN RESOURCES NL SECURES FUNDING FOR THAILAND PROGRAM*
http://www.sunres.com.au/pdf/CVN raising 60608.pdf

_In part_:
"The Board of Sun Resources NL (“Sun Resources”) is pleased to advise that the Company has raised approximately $4 million by way of a placement of Convertible Notes (“Notes”). The funds raised will be predominately applied towards Sun Resources’ 50% interest in Block L20/50, onshore Phitsanulok Basin, Thailand, where the Company is in Joint Venture with Carnarvon Petroleum Limited (“Carnarvon”). Hartleys Limited (“Hartleys”), the Company’s corporate adviser, is Broker to the Offer."

"The Notes will be issued at a face value of $0.55, giving each note holder the right to convert each Note into 5 fully paid shares (equivalent to 11 cents per share conversion price, a 22% premium to a 30 day VWAP of Sun Resources)"


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## INORE (1 July 2008)

Hartleys
Sun Resources Limited Speculative Buy
Thai Sunrise Could be a Beauty

Date 20 June 2008
ASX Code SUR
Share Price 8.8cps
*Valuation 17-23cps*
Market Cap (fully diluted) $19.8m ($22.1m)
Issued Capital (fully diluted) 225.1m shares (251.4m)
Cash (est. 20 June 2008) $5m

Sun Resources Limited (“Sun”, “SUR”, “Company”) plans to drill a low risk
entry well on its 50% owned L20/50 block, located in onshore Thailand, in
late 2008 / early 2009. This represents the first step in a plan to emulate the
success of its joint venture partner, Carnarvon Petroleum Ltd, which has
delivered a ten fold return on investment over the past 18 months via
success in onshore Thailand. Even moderate success at the planned well
would be significant, as it would fund the ongoing exploration program over
Sun’s large acreage position. The upside potential of the block has
company making implications for Sun.
SUR has a mature, producing portfolio of conventional assets in the USA
and a sleeper project in Malta with vast potential. Production from the US
assets has recently increased to over 1mmcfe/d net to Sun, which equates
to around US$2m net revenue p.a. Sun has also recently announced an
issue of convertible notes, raising $4m, which will be used to fund its
activities in Thailand and the US. With high impact exploration assets in
Thailand, Australia and Malta, and downside risk limited by producing
assets in the US, we rate Sun Resources Limited as a Speculative Buy.


for the rest of this go here..

http://www.sunres.com.au/pdf/SUR External 20080620.pdf


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## INORE (8 July 2008)

I needed to consolidate in my head what all the SUR projects are so i thought i would post what i could get from the latest Hartleys report.

PRODUCTION/EXPLORATION

'Fluor Bluff'
producing 3.1mmcf/d & 50bopd
- seismic H2 2008
- drilling H2 2009


'Lake Long'
producing 3mmcf/d & 55boc/d


'Margarita'
producing 1.1mmcf/d from Agavero and Donna Carlota & 50-60bopd from Milagro
-2 wells planned near term (first spud July 08)
-7 deep wells planned for farmout (Q3 2008)
-1 deep well planned for Q1 2009


'Redback'
-seismic completed Dec07
-drilling Q4 2008 (pending farmout)


'Meck'
-drilling July 08


'Thailand'
-L20/50 planned drill in dec/jan
-3d survey should have commenced????



So that's two spuds at Margarita and one at Meck....this month...Come on SUR, give us a bit more feedback on what your JV partners are doing leading up to the spud.

Did i miss anything?


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## INORE (18 November 2008)

Well its allmost show time for SUR in Thailand with CVN...they have started planning the seismic and are now waiting on some government paperwork and it will be full steam ahead.  Good luck to all those who have held over the past 12 months.


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## Couchtrader (25 May 2009)

hi there i'm new to this site I'm seeing potential with SUN especially considering 1/ jv with cvn in adjacent tenament in thailand 2/ and if successful, immediate cash flow potential Welcome any feedback CT


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## StockPiles (3 June 2009)

Couchtrader said:


> hi there i'm new to this site I'm seeing potential with SUN especially considering 1/ jv with cvn in adjacent tenament in thailand 2/ and if successful, immediate cash flow potential Welcome any feedback CT




SUR is one of my favourate stock picks !'

1) it's current price to book ratio is 1:1 meaning its current tangible book value matches its current share price - excellent news for all buyers as this company's book value will go through the roof when they get that oil out of Thailand with CVN.

2) Relatively small market cap - has a lot of room to grow - A recent broker report values this stock at 22cents right now and if all risks are ignored i.e they start producing the oil out of Thailand they expect (At conservative levels) the share price is worth 300 cents per share or $3.00 a share !!!

HELLO !! -- The trade volumes on this stock are small however and they are officially rated as a speculative buy. My opinion is that as people become more aware of this stock, it wont take long for the price to go up with the volume ..

Recently rasied capital for the seizmics and they have positive cash flow from their existing U.S based assets .. they were hit with lower profits during the credit crises due to the drop in oil prices but the future for this company does look bright based on all above..

Good luck !


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## doogie_goes_off (3 June 2009)

Best potential for growth since the rise and rise of CVN. Looks like a winner and Maltese Reef prospect is incredible. Should be an awsome long term winner, cant wait to be offered some more.


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## StockPiles (3 June 2009)

doogie_goes_off said:


> Best potential for growth since the rise and rise of CVN. Looks like a winner and Maltese Reef prospect is incredible. Should be an awsome long term winner, cant wait to be offered some more.




Offered some more ? You mean through a future retail SPP offer ?

SUR will probably need more capital to fully meet their 50/50 obligations, I sent an email to CVN to suggest they buy out SUR  The C.O.O replied personally to me and didn't give anything away but didn't rule it out either 


CVN are cashed up and could swallow SUR easy enough I would think ?


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## doogie_goes_off (3 June 2009)

Looking to get them through a capital raising for drilling. CVN a bit light on for cash and shareholders expecting a dividend soon so I'd sy a major like STO would be more likely. Cash is king at the moment.


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## JTLP (3 June 2009)

StockPiles said:


> Offered some more ? You mean through a future retail SPP offer ?
> 
> SUR will probably need more capital to fully meet their 50/50 obligations, I sent an email to CVN to suggest they buy out SUR  The C.O.O replied personally to me and didn't give anything away but didn't rule it out either
> 
> ...




I don't think CVN will take SUR on. I know they are looking for expansions and acquisition opportunities in S.E Asia + Aus but there game has been to JV and minimise costs/risks associated with fields. Ted even states that he prefers being in JV's as an interest and not operator etc. Would you mind sharing what the C.O.O said (of course blank out your name etc!)



doogie_goes_off said:


> Looking to get them through a capital raising for drilling. CVN a bit light on for cash and shareholders expecting a dividend soon so I'd sy a major like STO would be more likely. Cash is king at the moment.




Dividend? That would be lovely. Doubt it though...the cash will be used for expansions etc...plus as revenue increases actually profit begins to decrease...that damn Thai tax! 

Also CVN is not light on for cash at all...$77m in the bank (as per last ann...I believe some will be paid to tax though).


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## sw3 (4 June 2009)

It's off and racing... currently at 10 cps... I wonder if it will hold up and ride this wave or if it will fall back down. I was hoping to grab some this morning at 7.7 cps but to no avail. Would have been a tidy little profit for the day...


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## doogie_goes_off (4 June 2009)

SO YTC if CVN are going to use all their cash for expansion then why would they spend more than half their after tax profit on SUR aquisition only to see a biddong war start?

They will be under pressure to provide a dividend in the next year because of their rise into the ASX higher echelons.

SUR will be free to run on it's own for a while yet I think.


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## JTLP (4 June 2009)

doogie_goes_off said:


> SO YTC if CVN are going to use all their cash for expansion then why would they spend more than half their after tax profit on SUR aquisition only to see a biddong war start?




Sorry I don't quite understand this post...can you rephrase it for me please?

(I believe CVN won't make a bid for SUR btw)


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## HC Victim (4 June 2009)

After beinga CVN convert for a while , I was happy that my new broker managed to score me a small parcel from the first offering. Didn't know a hell of a lot about 'em, as I just gave the new guy a look at something to test him out. Seems he is close to top 10 holder himself, and the register is reasonably tight at present. Just happy that they drill with CVN, a management that I respect. I did warn him that if this turned out to be a CVI, I would have his legs broken, and didn't smile when I told him, he still was quite confident in buying for me.Time will tell I guess...


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## doogie_goes_off (5 June 2009)

Sorry JTLP - was a response to stock piles suggestion - I'm with you.  I believe CVN won't make a bid for SUR.


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## growing (10 July 2009)

I noticed 6 Million units to buy and 1 Million to sell on this stock today ! (This is on my commsec listing anyway)

I'm happy with that ratio


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## growing (15 July 2009)

SUR is making inroads, considering Oil is going down. I was reading an earlier post on this thread about a broker report placing this stock at $3.00 a share if everything goes to plan!! This 50/50 venture with CVN seems to hold a lot of potential and is described as a "Company Maker" for SUR.

34 buyers for 4,340,530 units  19 sellers for 1,385,940 units  (as of close of today's trading)

Always seems to have more buyers and more units to buy than sell.

At $3.00 per share its market cap would be around the 1 Billion $$ mark which is 42.8 x its current value (7 cents) .. A bit unrealistic I think (at least anytime soon) .. if we compare it to say, CVN (Market Cap of 479 Million), i would estimate a share price of around .70 cents, giving SUR a market cap of 240 Million $$ in the shorter term (say within 2 years) but only after they finish drilling and getting this oil out of the ground (lots of risks associated with this at this point in time) .... BUT, then CVN will have equal benefit so its price should go up with SUR so maybe $1.00 is realistic on this basis (Market Cap of around 342 Million $$) .. Will be interesting to see how this stock plays out over the next 2 years..

Anyone else have a comment on this one ?


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## growing (15 July 2009)

Further to my previous post...

Valuation Summary from Hartley's Brokers Dated:14 July 2009

*Value                       risked unrisked*

Asset               $m     cps    cps

U.S Producing    14.5    4.0    6.1
Thailand Explore 51.0    13.4  89.2
U.S Explore        2.7     0.7   13.0
Malta Explore     1.1      0.4   112.0
Net Cash*         9.5     2.5    2.5
O'heads             4.0     1.0   1.0

Total                74.8   19.9   *221.7*


This table describes the risked and unrisked valuation as of the 14th July 2009. Look at that Unrisked total $2.217 Per Share !!! 

Holy cow! That would be something 

I think a lot will change after the drilling in Q1 2010 !!


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## JTLP (16 July 2009)

growing said:


> Further to my previous post...
> 
> Valuation Summary from Hartley's Brokers Dated:14 July 2009
> 
> ...




Take Hartley's reports with a grain of salt...I think they do the placements for CVN and SUR when they come around... 

SUR does have a lot of work to do before getting to the 74.8 price mentioned in that report. A lot depends on this new field with CVN...hopefully a success for all...


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## growing (16 July 2009)

JTLP said:


> Take Hartley's reports with a grain of salt...I think they do the placements for CVN and SUR when they come around...
> 
> SUR does have a lot of work to do before getting to the 74.8 price mentioned in that report. A lot depends on this new field with CVN...hopefully a success for all...




Oh, i see but from what I read in the report, the broker seems to underestimate rather than overestimate ?? - But point taken, if they are paid by SUR and CVN ... thanks again JTLP


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## growing (27 July 2009)

*SNAPSHOT TODAY:*

7.8 Million Shares traded

Up 15% (Well ahead of the sector average)

9 cents closing price with many more buyers than sellers .. (Yes I'm aware of how this can be manipulated - just posting fact)

It's off and running.


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## growing (19 August 2009)

Big Seismic news released on the joint venture with CVN .. This stock seems to be fairing better than CVN for some reason .. I noticed in CVN's latest Profit reports, their current reserves have delined somewhat, I guess this joint venture may boost cashflow for both CVN and SUR if the expected oil is brought to surface


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## BESBS Player (20 October 2009)

Decided to buy in to SUR as a slightly longer termed BESBS play for the drilling in Thailand in 2010. The company seem to be quoting large potential targets (400 mmbl) and this usually gets the punters excited once a drilling program is in place. 
Now the focus is moving off the seismic, I decided to start getting set.

Patience will be needed but I believe that it will be rewarded.

Holding SUR at 8.5c


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## boronia (29 October 2009)

BESBS Player said:


> Decided to buy in to SUR as a slightly longer termed BESBS play for the drilling in Thailand in 2010. The company seem to be quoting large potential targets (400 mmbl) and this usually gets the punters excited once a drilling program is in place.
> Now the focus is moving off the seismic, I decided to start getting set.
> 
> Patience will be needed but I believe that it will be rewarded.
> ...




BESBS Player I agree with this strategy as a trading play but I reckon there is also a reasonable case for this as a high risk investment play given that the the area is down trend from an existing oil field, adjacent to another and has CVN as operated who have become quite experienced in identifying and getting oil out of volcanic fractures

Results from the 2D seismic should be out late 2009 and drilling to start 2010


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## BESBS Player (16 December 2009)

Hi Boronia,

True, SUR's play here looks high risk. That said, I only ever assume odds of 1:10 for wildcats (unless we are talking GoM or the Cooper basin) hence I don't hold through a well. They are all too high risk for me so it is no issue for my strategy. I still think that the punters will join in later on when action is closer. Time will tell.

PS. Been accumulating around 7c.


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## growing (31 December 2009)

Market Cap for this one is only $25Million, I'm sure punters could double this market cap from its current levels safely on the back of some positive news in Thailand


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## boronia (9 March 2010)

Interpretation of the 2D seismic is out today with 3 wells planned for Q4, 2010

Interpretation of the seismic has identified five substantially different prospective styles (play types) being (1) basin margin antithetic fault blocks (akin to the Sirikit Oil Field style structuring), (2) lacustrine fans which may contain sandstone reservoirs deposited via river channels, (3) elevated large horst structures, (4) buttress fault traps (akin to the Na Sanun structure) and (5) possible volcanic intervals indicated by bright seismic amplitudes.
Within these five play types 23 leads have been identified, of which five to six have been high graded. The high graded prospects will be presented to the Joint Venture over the coming weeks to determine which three will be selected for the 2010 drilling programme.


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## growing (15 March 2010)

boronia said:


> Interpretation of the 2D seismic is out today with 3 wells planned for Q4, 2010
> 
> Interpretation of the seismic has identified five substantially different prospective styles (play types) being (1) basin margin antithetic fault blocks (akin to the Sirikit Oil Field style structuring), (2) lacustrine fans which may contain sandstone reservoirs deposited via river channels, (3) elevated large horst structures, (4) buttress fault traps (akin to the Na Sanun structure) and (5) possible volcanic intervals indicated by bright seismic amplitudes.
> Within these five play types 23 leads have been identified, of which five to six have been high graded. The high graded prospects will be presented to the Joint Venture over the coming weeks to determine which three will be selected for the 2010 drilling programme.




That's all well and good but have you seen the half yearly results for SUR?? I just read about them on stockanxiety.com - he is selling up!!! I'm going to hold onto mine however 

But a 6 million Dollar loss ? Geeeez !!


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## boronia (16 April 2010)

BESBS Player said:


> Hi Boronia,
> 
> True, SUR's play here looks high risk. That said, I only ever assume odds of 1:10 for wildcats (unless we are talking GoM or the Cooper basin) hence I don't hold through a well. They are all too high risk for me so it is no issue for my strategy. I still think that the punters will join in later on when action is closer. Time will tell.
> 
> PS. Been accumulating around 7c.




BESBS Player (this is slightly off topic) but today CTP release their drilling program for 2010 including some gas, CSG and oil wells. Your BESBS strategy might be a good one - what do ya think?


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## BESBS Player (3 September 2010)

Started to buy in to SUR as a BESBS (Buy Early Sell Before Spud) play. From the CVN Quarterly, hoping for December action.

5.7c and 5.8c entry to date.


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## BESBS Player (9 September 2010)

Drilling approval out today. 

Market liked it...up 15% today at the moment. With a definte well and 2 potential follow-ups, starting December, the speculators will soon be clambering aboard!



Holding SUR at 5.7c ave.:


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## BESBS Player (13 September 2010)

Great to see that many punters are getting set in SUR. Looks like the SP is tracking northward and holding at reasonable levels (finished at 7.3c) - makes it risky for punters to wait and assume that they shall get a much cheaper entry point. So far so good.

Holding SUR at 5.7c ave.


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## BESBS Player (21 September 2010)

A week on. Looks like SUR is holding around the 7.5c mark.
I'd be happy to see that as a SP platform for a little while before the action builds up quickly. 


Holding SUR at 5.7c :


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## beatle (21 October 2010)

SUN finally has started to show some real action on the trading front, after the past few weeks consolidating around 7.5 - 8.0 cents. Although I'm not a chartist at all, I'm sure it looks good on a chart. 

And of course what is starting to raise the interest of punters in SUN is the soon to be drilled first hole in onshore Thailand, after Carnarvon Petroleum the operator on block L20/50 received formal written approval from the
Department of Mineral Fuels (DMF) confirming that the drilling to commence late 2010 with 1 firm well and 2 possible follow up wells. 

The joint venture’s upcoming drill campaign is targeting  ‘classic’ sandstone reservoirs and have potential to intersect analogous structures to Carnarvon’s Phetchabun basin oil fields. Previous drilling in this very same permit (e.g. the off structure Nong Bua-1 well) has demonstrated that oil has been generated within the L20/50 concession and has migrated through deeper sandstone reservoirs.

As background L20/50 is located between Thailand’s two largest producing onshore field complexes, being the next basin along from Carnarvon’s Phetchabun Basin Oil Fields (producing up to 15,000 bopd with
>60 mmboe estimated ultimate recovery) and 20 kilometres south, in the same basin as the Sirikit Oil Field (producing ~20,000 bopd with >200 mmboe estimated ultimate recovery).

Punters all aboard before the train sets off altogether!


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## BESBS Player (21 October 2010)

G'day Beatle,

Yes, looks like all aboard now. 
With drilling around December/early January, not long now for the punters to clamber on.

 Great leverege here...


Holding at 5.7c ave.


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## beatle (21 October 2010)

Hi BESBS, great entry price you've got! (My entry price i'd hate to admit is higher than today's price - I bought in such a long time ago, specifically for the Thai drilling which is finally going to happen!). Especially with Nong Bua having been a successful oil well previously I can see a positive few months ahead for SUR.

SUR trading volume already today is bigger than the past 12 months!


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## beatle (21 October 2010)

Final trading volume of 5.6 million shares absolutely dwarfed the previous highest trading day over the past 12 months (around 2.47 million on 9 Sep 2010, and 2.36 million on 13 Nov 2009), with a great move upwards (+11.11%) to 9.0 cents. There may well be a speeding ticket issued to SUR for its efforts, but clearly those in the know will realise its only the anticipation building for its soon to commence drilling activity in Thailand. 

I can see this share price only building more over the next month or so, especially with the AGM also possibly infusing some excitement about the drilling program.


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## beatle (25 October 2010)

SUR share activity on Friday was relatively subdued after the previous more boisterous trading, but importantly its moved up to a more interesting level, with it sitting around the level that had been a longer time resistance level (taken over a few years - excuse my poor chartists commentary! - I'm not one of those elite-ests, lol!).

I believe that getting set in SUR now will be very strategic for a possible break out in share price as time gets closer to the first hole being drilled on the Thai onshore block L20/50 since Nong Bua was proven as containing oil(drilling off structure!) several years ago by others. 

The next month will be interesting for SUR


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## beatle (26 October 2010)

SUR share price is now in consolidation at this 9 cents level, and although the volume dropped off yesterday to just 700,00 odd shares, it was comforting to see the price consolidate. I would imagine that it will hold around this level whilst news should begin to grow about the exact timing of spudding the well on its Thai L20/50 onshore property. 

(The interesting Bid of 2 million shares that sat there patiently earlier last week at 8.3 cents and had 290,000 shares chomped on it, was moved slightly higher to sit at 8.7 cents, thus it gives some confidence to those newer entrants that may have gotten coldish feet when the upward momentum subsided. My view is that behind that 1.71 million shares sitting patiently there is a lot more waiting for the share price to come off the boil!).


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## beatle (27 October 2010)

I was very surprised to see that line of 1.71 million shares at 8.7 cents get taken out yesterday, someone must have wanted cash quickly! It meant that all of a sudden the flood gates opened and people rushed for the exit doors! I guess it could trigger stop losses for traders, but to be honest I don't know how you can trade any of these smaller spec stocks, as illiquid as they are, with the usual trading tactics of having automatic stop losses. 

My trading/investing/punting (lol) strategy is more simple than that, I decide that knowing what the outlook is over the coming months and what I consider to be a reasonably cheap entry point, I get set and wait. And although I may decide that things have changed and therefore take a loss, I keep the big reason for me buying the stock in the first place, that way if it remains intact usually I will continue to hold the stock, maybe I might add to it. Its not the sort of strategy that traders employ, I know that, but I have found it to be a very successful way to invest over the years, although I have not always been successful of course with lots of my trades, overall the majority of trades are positive to give a good result. I'm usually wrong about a stock when the circumstances of the anticipated event doesn't take place. 

In the case of SUR, everything remains on track, the oil well is due to spud in the coming months, which month is not certain as there is preparatory work being undertaken by the operator (CVN) but all is going to plan. At the current share price there is still a chance to get set for that, and if I had more funds available I would buy more at present, but since I have got lots on the go at present I will sit tight with the current holding (but if SUR weakens any more I'm motivated to get a few more, lol!).


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## beatle (29 October 2010)

I have noticed that after a slight dip a couple of days ago in the share price and its activity level, that yesterday SUR made a subtle move upwards back to just under 9 cents, and sales below that level are likely to dwindle based on the drilling schedule planned in the coming months.

For a company that gets almost a free ride to earn 30% interest in the Thai onshore block, surrounded by 2 producing oil fields, and with about $3.0 million in the bank, its an exciting time for shareholders who have long waited for that drilling to commence. I can't see the share price falling off much more, but can see it strengthening as we approach the spud date!


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## BESBS Player (29 October 2010)

Hi Beatle & SURers,

Looks like drilling in L20/50 to be delayed due to heavy monsoonal rains affecting condition of access roads and drilling pads (CVN qtrly). 

From what I see, CVN/SUR hope to see drilling start by the end of Dec. but realistically, we might see January as a starting date. This explains today's sell-down as some traders would jump ship to have funds around to play with over the next few weeks.

From my perspective, it is a pity but no real issue. It merely means that we delay the anticipated final SP run into spud takes place 6 weeks later.

Happy to hold...


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## beatle (30 October 2010)

Thanks BESBS Player, I was wondering why the sudden drop in share price and it surprises me that a few weeks delay can be so hard for some investors to take! In fact I took some of the shares on the fall today, and of course although I am not so patient I am very patient when it comes to such an opportunity. I think the reaction of that investor (?) to dump 400,000 shares just before the close was certainly an over-reaction, and is a short term aberration to a long term uptrend for SUR, and its positive outlook with the spudding of the first hole! 
At least having the drilling in such a country as Thailand with a relatively seasonal limit to the wet season and usually any flooding that arises from those rains, means that the delay should be of limited duration (from my first hand experience there around the Pisanulok and Roi Et areas - which I presume are in the general area of where this block is located and the target area for drilling - do you know more exactly the location of that first hole?)will soon be dry again as the dry season is approaching rapidly.
I have got time on my hands that will turn this into a more substantial return on investment. In fact I might add a few more if the price weakens any further next week.


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## BESBS Player (4 November 2010)

Hi Beatle.
Yes, I had a smile as well. Drilling is still going ahead, just a little later than hoped. We are still looking at Q1 2011. 
I'm not surprised that a few investors were tempted to grab the cheap stock and accumulate on the dip.

I noticed today that SUR is again near 8.7c. Happy to hold here. Patience should be nicely rewarded. 

Holding SUR at 5.7c


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## beatle (9 November 2010)

Hi BESBS, and others. SUR has called for a Trading Halt, as a precursor to announcing a capital raising, lets hope this doesn't upset the apple cart!


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## beatle (9 November 2010)

Just in case those watching SUR missed the latest news announcement, it being the second of 2 for the day, I post the first couple of paragraphs which explains the TH and proposed capital raising (of yet to be disclosed quantum) released earlier today:

"Sun Resources NL (“Sun Resources”) is pleased to announce that a non-binding Term Sheet with an as yet undisclosed party (due to commercial sensitivities) has been executed for Sun Resources to participate in the drilling of a high impact well onshore North-West Europe which will
test a 720 bcf conventional gas target in the second quarter of 2011.
Sun Resources will fund â‚¬1.645m (A$2.3m) of past and future drilling costs to earn a 15% working interest in the farm-in concession. The planned well and equity assignment in the permit to Sun Resources is subject to approval by local authorities."

Lets hope that this supports a modest capital raising only, and fires up the market!


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## BESBS Player (11 November 2010)

Hmmm...
Thailand recently diluted. Now we see more shares at 6.7c. Ahhh...
Only a week ago, we were in the mid-8c range. 

Once this gets traction, there will be the risk of investors dumping SPP stock for a 20% profit once we get towards the 8c+ range. Then there is the question...what will Hartleys do? They set a target price of 11c but that might not get up pre-Thailand (given the dilution of that project and the placement)

I'm already out. As a BESBS player (Buy Early Sell Before Spud), this is not what I want to see. There are better BESBS plays around at present IMHO.

All the best to holders.


Bought SUR at 5.8c; Sold at 7.3c. 25% profit. 
As Kenny Rogers would say, "Ya gotta know when to fold 'em)


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## mr. jeff (11 November 2010)

BESBS Player said:


> Hmmm...
> Thailand recently diluted. Now we see more shares at 6.7c. Ahhh...
> Only a week ago, we were in the mid-8c range.
> 
> ...




Hi BESBS,
Looking through the dirllers, who are you following at the moment. I don't know much about oil/gas co's and you seem to know a bit, so any interesting companies around to research? I am familiar with AWE, ROC...
Thanks for any thoughts.
Note I would not dare be considering anything here advice let alone recommendations, looking for ideas only for investigation...


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## beatle (12 November 2010)

Hi BESBS,

I have contacted SUN management and discussed the various unknowns regarding the new project etc. Everything seems vague purposely, as I understand that a condition of the deal arrangement is not to disclose more market sensitive information prior to the government departments approving of the SUN deal. It has been described to me that once divulged the market should accept it very well, as it is truly a company maker notwithstanding that it is only a small equity likely to be held by SUN (15%), but with a total potential value of the project as it stands of around A$600 million (and I don't know the basis of that valuation of course!) it could push SUN share price up considerably! I understand that the underwriters to the placement (Hartleys in Perth) are very supportive of SUN for both the Thai project and this new project, and SUN's new strategy to divest of some equity in Thailand for a slice of this new project.

I suggest that you take another look at SUN once the deal is put on the table, it could go for another run at that stage, and certainly once the Thai project nears itself to drilling.


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## BESBS Player (13 November 2010)

Hi Beatle,

Interesting comments from management - I do value your efforts here, and I do take your points. For me though, the following issue remains:

1. Thailand has already been delayed. At each corner, it seems that SUR have farmed down even further. As a BESBS player, part of the lure for punters is huge leverege. By farming down like this, the leverege drops.

2. The SPP has diluted share holdings. For me, not a huge issue but still a negative. 

3. If I were to re-enter, how do I know that Thailand won't be further reduced or another Capital Raising for the latest European adventure? Given past form, you could guarantee this.

4. When finally we get closer to spud, we have a heap pf 6.7c shares that will get dumped as the SP rises. I'd expect to see these flow once we get to 20-25% higher (probably around 8c). This is a possible hurdle that I don't need or want.

While I accept that SUR shall rise as the Thailand drill approaches, I think that there are now better opportunities around for BESBS dollars. Each to their own and I do hope that SUR rises as you hope.

All the best,
BESBS


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## beatle (3 December 2010)

Hi BESBS,

Well in the last short while since our last posts on SUR there has been much happen with the company:-
1. Its had its share price drop down below the SPP level momentarily (just at the close of the SPP which was done at 6.7 cents, it got to as low as 6.5 cents for a short time);
2. Its now confirmed that the Thai onshore project will be likely drilling in January;
3. Its announced the likely take up of a 15% interest in a significant but as yet undisclosed onshore NW Europe project that has the potential according to some, to take SUN multiples of its current share price range!
4. Today, for the first time, there has been a considerable lift in trading volume, and along with that move upwards in share price, touching 8 cents momentarily. Currently at its last sale price of 7.9 cents its up 12%!

Clearly the momentum and sentiment of SUN has changed for the better, and maybe we will see it starting to test the recent high of around 9 cents in coming days as countdown moves to drilling in Thailand, and an anticipated new project announcement...


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## beatle (6 December 2010)

There is an interesting thread provided by htt on HC, which I copy here for those interested, its a very recent report by Hartleys on SUR and its prospects in Thailand (report prepared 30th Nov 2010):

http://www.sunresources.com.au/pdf/broker/SUR_external_301110.pdf

In summary the Hartleys review states:
"The potential multiple return on investment from success in the first three wells, commencing in January 2011, is ~25 times the current share price. This compares favourably with other companies that are close to drilling, which average (by our estimate) a potential return on investment of 10 times. Several of these companies have market capitalisations in excess of A$150m.
Our view is that, due to the reasons previously stated, Sun is a better investment than most of its peers as it has a lower risk profile whilst retaining huge leverage to any success. The multiple well drilling program provides more than one chance at success, diversifying and lowering investment risk. The address is prospective and the inexpensive wells and large prospects provide an attractive combination. In addition to this, any discovery would also result in early cashflow when compared to some of the offshore explorers, which may require large amounts of development capital and several years of construction, before any revenue is possible."

and:
"Conclusion
Sun is on the verge of a transformational drilling campaign onshore in Thailand. It retains a high working interest in large moderate-high risk prospects that provide it with potential to achieve a 25 times return on investment from current prices. We recommend Sun Resource NL as a Speculative Buy with a pre-drill price target of 12cps"

A good wrap for SUR, it appears the company is on the threshold of a marketing campaign with a new revised and glossed up company presentation, prior to first Thai drilling to commence.


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## BESBS Player (9 January 2011)

Back in to SUR again.
Just a small play as we are now just 10 days or so away from drilling. Hopefully we shall see some trader pre-spud action in the next week and I'd be hoping that the SP can manage to get somewhere close to Hartley's (much earlier) report of an 11c estimate pre-spud. Given farm-in news from Europe could appear at any time, a slightly higher pre-spud SP is possible. 

Three drillings gives some extra security (as there are 2 to follow the first drill) so I'll probably hold a little way down the well in case we get some early news.

Holding SUR at 8.9c


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## tech/a (9 January 2011)

> Holding SUR at 8.9c




Caught in a Bull Trap.


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## bankit (10 January 2011)

Looks as though SUR is on the move at last with what appears to be a  positive 3 well drilling program. Shell had oil shows in this area years  ago and with the advancement in technology both in area analysis and  drilling it looks encouraging.

The drill program is as in the attached link.

Bankit               

*www.sunres.com.au/pdf/announcements/2011/ASX%20Sun...*


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## BESBS Player (12 January 2011)

Yes, early days (I only re-entered on Jan.9) but so far the direction is positive


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## boff (21 January 2011)

Does anyone think yesterdays rebel attack in southern Thailand will have any effect on the SP?
Me, I think not, as it's in a totally different area of the country.
ref: http://www.bbc.co.uk/news/world-asia-pacific-12238656


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## BESBS Player (22 January 2011)

Out again of SUR.

As a 'Buy Early Sell Before Spud' BESBS player, I'm happy to take my 7% profit (on top of previous 25% here in November) in just under a fortnight and now move my cash to get set elsewhere.

SUR might well run toward 11c pre-spud and then who knows. Still, keeping to my disciplined strategy, I won't wait to see.  

While all drills are risky, this SUR project seems better than most. All the best to holders.

In @ 8.9c
Out @ 9.55c ave
Profit: 7%


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## boff (8 February 2011)

Announced today:

_"Sun Resources NL (“Sun” or “the Company”) (ASX:SUR) is pleased to announce an update on the activity managed by Carnarvon Petroleum Limited (“Carnarvon”), the Operator of L20/50 onshore Thailand. *The first well (Tapao Kaew #1) has spud and is operating at a depth of 605 metres.*"_

SP holding steady at 10c, nothing exciting with volume either. There's going to be some action one way or another any moment. Check ASX for announcement.


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## boff (15 February 2011)

boff said:


> There's going to be some action one way or another any moment.




Well that's a bummer. Approx 25% drop on the news that there first well is empty. It's been drilled to a depth of 1600m, although there is another 175m to go, it's not looking good.

Potentially two more wells to drill, with the Krai Thong prospect coming next.

I think it's interesting that the SP has dropped by almost the exact amount that their potential reserves have dropped by.

I'm still trying to figure out whether to top up, hold or sell. I had a contingent sell order triggered at 0.8, but the SP fell straight through it without giving me the sale. grrr...


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## JTLP (15 February 2011)

boff said:


> Well that's a bummer. Approx 25% drop on the news that there first well is empty. It's been drilled to a depth of 1600m, although there is another 175m to go, it's not looking good.
> 
> Potentially two more wells to drill, with the Krai Thong prospect coming next.
> 
> ...




I think you've misread the ann.

The well isnt empty - they just haven't encountered any sandstone reservoirs down to 1,600m. There is still 100 odd metres of drilling to go. It doesn't look promising but all is not lost.


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## boff (16 February 2011)

JTLP said:


> There is still 100 odd metres of drilling to go. It doesn't look promising but all is not lost.






boff said:


> It's been drilled to a depth of 1600m, although there is another 175m to go, it's not looking good.




No offence, but I think we both read the announcement just right.


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## JTLP (16 February 2011)

boff said:


> No offence, but I think we both read the announcement just right.




Sorry chief - just didn't understand the contradiction of "Well that's a bummer. Approx 25% drop on the news that there first well is empty."

Best of luck with your position though!


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## Trader Paul (9 March 2011)

Hi folks,

SUR ... here's some astroanalysis, for the next couple of months:-

   21-22032011 (equinox) ... 2 time cycles, expected to bring some positive news

  08-11042011   ... spotlight on SUR to bring positive market sentiment   

  12-13042011  ... 2 minor cycles due to come into play

  18-21042011 ... major positive cycle, may be triggered by a lunar aspect, on 21042011.

  06-09052011 ... 2 time cycles, expected to bring positive (financial ???) news  

      10052011 ... major and negative time cycle, expected here. 

have a great day

  paul



=====


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## sagitar (20 January 2012)

Anyone been watching? This stock is only starting to make a move as early birds grab what they can. Currently trading around 2 cents with a highly prospective portfolio in the Eagle Ford Shale fairway, Texas, worth an equivalent of $250M, which equates to around 23 cents per share. Drilling for oil to start soon as part of a low risk, high reward program via multi-zoned payloads.  This will be a biggie imo.


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## vas77d (6 March 2012)

I've seen stocks like MAD go crazy since December. But SUN doesn't seem to be moving at all. The company itself isn't on track to do much and there's no sign of any great announcements that can improve it's revenue, cash position, or profits. A good company needs to constantly improve its financial position and this one is failing to achieve this. Can anyone give a good solid reason why this company is worth investing in?


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## Chasero (23 April 2012)

vas77d said:


> I've seen stocks like MAD go crazy since December. But SUN doesn't seem to be moving at all. The company itself isn't on track to do much and there's no sign of any great announcements that can improve it's revenue, cash position, or profits. A good company needs to constantly improve its financial position and this one is failing to achieve this. Can anyone give a good solid reason why this company is worth investing in?




Gotta say this has been a day traders dream stock.

Up 20% today. I wonder how far it can run? Definitely the most ramped up stock on other forums tho.


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## Chasero (26 April 2012)

Seriously.

This breakout is an absolute rocket.

23c to 40c in a week. That is just a 1 bagger though.

Might keep running, who knows?

24 Apr 2012 	0.039 	11.43% 	0.041 	0.032 	72,093,345
23 Apr 2012 	0.035 	20.69% 	0.038 	0.032 	69,103,454
20 Apr 2012 	0.029 	16% 	0.032 	0.024 	35,317,818
19 Apr 2012 	0.025 	8.7% 	0.026 	0.024 	6,717,279
18 Apr 2012 	0.023 	0% 	0.024 	0.022 	3,673,973


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## panikhide (2 May 2012)

Chasero, 

SUR is a cracker of late  for sure, but I think you’ve got the decimal point in the wrong place. No matter, it is still all good for holders. SUR jumped from 2.3c to 4.0c in a week, and has done so on big volumes.

More importantly though, it broke through the 5c barrier yesterday and is sitting above it today.

No sure what the reason for the jump is - must be something happening behind the scenes.

I am a long term holder.




Chasero said:


> Seriously.
> 
> This breakout is an absolute rocket.
> 
> ...


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## Bonk (12 May 2012)

Finished the bad ASX week at 4.6c

Good talk in Perth that this play in USA is well connected , so expect news of a farm-out very soon . Analysts have up to 10c on this .... they expect drilling to start sooner than later .

Could get interesting by the months end ?


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## growing (14 May 2012)

Bonk said:


> Finished the bad ASX week at 4.6c
> 
> Good talk in Perth that this play in USA is well connected , so expect news of a farm-out very soon . Analysts have up to 10c on this .... they expect drilling to start sooner than later .
> 
> Could get interesting by the months end ?




Anyone got access to the latest hartley's report showing 9.9 cents???


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## Bonk (10 June 2012)

East Texas land deals driving SUR although they have no news flow . Big deals are being done by neighbours . Share price /volume shows much volitility . Brokers expecting much info to come ..... good week up nearly 40%

Day traders taken a liking to this .


Date

Last

% Change

High

Low

Vol *



08 Jun 2012

0.061

 7.02% 

0.064

0.055

28,779,308



07 Jun 2012

0.057

 18.75% 

0.057

0.048

16,316,621



06 Jun 2012

0.048

 4.35% 

0.048

0.046

2,262,440



05 Jun 2012

0.046

 4.55% 

0.047

0.045

1,829,727



04 Jun 2012

0.044

 -8.33% 

0.045

0.044

3,809,697


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## pavilion103 (15 June 2012)

Almost 10% today. Up to 6.7 cents. 

I'll be interested to see if this one shoots up again after a couple of days' pullback.


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## springhill (29 July 2012)

*Third Woodbine Project*
● Sun Resources has entered into a binding farm-in transaction with US oil company Richland Resources Corp and Amerril Energy regarding 1,360 gross acres (Richland Oil Project) located immediately adjacent to one of the best performing horizontal oil wells in Leon County, Texas, which was a well included in the recent US$522 million PMO Oil Field transaction that was recently announced by HalcÃ³n Resources Corporation (NYSE:HK).

● Sun, Richland and Amerril have agreed to immediately drill and complete a horizontal well into the Woodbine Formation just south of Centreville, Leon County, Texas on a chosen location situated within the 1,360 acres with the main target of the well being the same productive interval as that in the PMO Oil Field. Richland is the Operator of these 1,360 acres and has already scheduled a drilling rig, drilling crew and frac crew for this purpose. Along with Petromax (Operator of the PMO Oil Field), Richland is the most knowledgeable operator of Woodbine horizontal wells having a proven track record in drilling and fraccing Woodbine horizontal wells in Madison County, Texas.

● The horizontal well has been named Beeler #1H. The well is planned to spud on or about Friday 17 August 2012. It is expected to be drilled, fracced and completed by 27 September 2012.

● The budgeted cost of Beeler #1H is approximately US$7,600,000. 25% of these costs shall be borne by Sun (being approximately US$1,900,000) with the remainder to be paid by Richland (50%) and Amerril (25%).

● Upon drilling and completing Beeler #1H, Sun, Richland and Amerril will have earned the following respective working interests and net revenue interests in Beeler #1H:

 ● As a result of its participation in this third Woodbine project, following completion of this transaction and the Amerril transaction (the settlement date for which has now been amended by Sun and Amerril to be on or before 5 September 2012), Sun will have a material working interest in Leon County, Texas of 22,000 gross acres (14,833 net acres).

● Sun remains active in discussions with various parties in relation to potential farm-in transactions on both its Delta Oil Project and Amerril Oil Project acres.


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## mr. jeff (24 October 2012)

SUR so far standing strong today and waiting for an excuse to step over the 8c level. 
I am not on SUR but have been watching the move with interest. The strength on a down day is a good sign.
May be worth learning more about. 
A very good trend so far...but the volume has not come in yet.

Anyone know more?


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## raimop (16 September 2014)

This article appeared in Proactive Investors. Good to see the principle of nearology is still around.

*Sun Resources buoyed by nearby oil discovery in Texas*
Sun Resources (ASX:SUR) has advised that EOG Resources’ (NYSE:EOG) Zeus-1H Lower Woodbine horizontal well in Texas has flowed at initial rates of more than 500 barrels of oil equivalent per day. Importantly, the well is located just 7 kilometres northeast of its Jack Howe-1H well in Texas, where drilling of the horizontal section began last week. EOG added that Zeus-1H had flowed back 23,860 barrels of oil prior to achieving the flow rate of 299 barrels oil, 150,000 cubic feet of gas, and 184 barrels of water. Given that EOG’s multi-stage frac job at Zeus-1H was completed in mid-June 2014, an average 30-day initial production rate can be estimated across approximately 50 days of flow back, giving a 30-day IP of at least 500boepd.

*Jack Howe-1H* Sun is using the Nabors Drilling USA LP Rig 53 re-enter the existing vertical pilot well bore at the Jack Howe-1H well location. This will be followed by the drilling of a new deviated well bore to build angle toward horizontal and continuing the well in a northerly trajectory to drill and case approximately 5,500 feet of lateral drilling. Jack Howe-1H is expected to take three weeks to complete and case. The company will then carry out a multi-stage fraccing program.

Sun has a 50% operating interest in Jack Howe-1H and the Normangee Oil Project. It is currently raising $10 million to fund drilling of the well. Notably, major shareholder Gina Rinehart’s Hancock Prospecting Pty Ltd has already committed to participating in both the placement and the rights issue to maintain its shareholding of about 19.5%.

*Analysis*
The results from EOG Resources’ nearby Zeus-1H well bode well for the potential of Sun Resources’ Jack Howe-1H well in the event of a success. Achieving similar flow rates has the potential to significantly re-rate Sun Resources from its current share price of just $0.008.

There are significant share price kickers:
-    Results from drilling, fraccing and testing of Jack Howe-1H;
-    Drilling of 1-2 proposed wells in its new Lower Woodbine leases; and
-    Drilling of a well in the Badger Project (Eagle Ford Shale) in the fourth quarter of 2014.

I HOLD


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## pixel (1 October 2014)

The guys on HC are all over this today. Can't tell whether they're right or wrong, but does it matter?
My midday scan showed one stock only: SUR




I got set a couple of days ago; thinking of adding if the basing pattern is confirmed.


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## System (10 December 2019)

On December 10th, 2019, Sun Resources NL (SUN) changed its name and ASX code to Prominence Energy NL (PRM).


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## greggles (31 May 2021)

PRM coming back to life in the last six months. They announced today that they have raised $3.2 million to get into the green hydrogen industry via a 20% investment in Patriot Hydrogen Pty Ltd for a consideration of 25 million PRM shares, $250,000, and 3 million PRMOB options. 

They will also be using the funds to drill the company's  Bowsprit  leases in Louisiana.

With the commodities sector booming, could PRM come back from the dead? Green hydrogen is a hot sector at the moment, but not every player can be a winner.


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## Sean K (8 June 2021)

greggles said:


> PRM coming back to life in the last six months. They announced today that they have raised $3.2 million to get into the green hydrogen industry via a 20% investment in Patriot Hydrogen Pty Ltd for a consideration of 25 million PRM shares, $250,000, and 3 million PRMOB options.
> 
> They will also be using the funds to drill the company's  Bowsprit  leases in Louisiana.
> 
> With the commodities sector booming, could PRM come back from the dead? Green hydrogen is a hot sector at the moment, but not every player can be a winner.




I've been trying to get my head around this green hydrogen scam for a while now and I still don't get it. 

What I do see from the Patriot Hydrogen thing is that it's creating hydrogen from biomass. They need 24tn of wood chips to produce 1tn of 'green' H2. That doesn't sound very 'green' to me...


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## Dona Ferentes (8 June 2022)

and slinking away to the background..... down 70% on the news of a wildcat coming as a dry hole. Now bouncing along the base at $0.002

_An estimated $35 million gone with an exploration well off WA Pilbara coast coming up dry and ruining the outlook for two tiddlers, Global Oil and Gas (GLV) and Prominence Energy.

The duo had farmed into (bought a stake) Western Gas’ Sasanof well in the Carnarvon Basin off the Pilbara coast along with UK group, Clontarf Energy._

_Global shares fell 80% to $0.004 on the ASX and, in London, Clontarf shares were off 72% to 0.11p.

It’s another failure by the privately owned Western Gas to develop the Equus gas fields it bought off US giant Hess in 2017 for $US2.

Hess had spent heavily finding and then trying to prove up the field to sufficient size and then threw it in when gas and oil prices slumped in 2016 and 2017, reportedly leaving five wells in the field suspended for possible future production.

The Sasanof-1 well is west and southwest of WGC’s Equus gas fields, all of which lie between Woodside’s Scarborough fields and Chevron’s Gorgon-Io-Jansz fields.

Drilling started two weeks ago and on the weekend the bit drilled through the layers of interest where the gas was said to be located but came up dry. The companies said the well will now be plugged and abandoned, leaving the Equus field without a home for its gas – a similar  situation to the one Hess found itself in._


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