# BUY - Bounty Oil



## Profitseeker (24 September 2005)

Oil and gas discovery fuels excitement
Thursday Sep 22 19:32 AEST
An oil and gas discovery at the Magnolia-1 well in offshore Western Australia could be a company maker for three of the six joint venture partners, according to an analyst.

Hartleys Ltd said smaller capitalised partners Norwest Energy Nl, Bounty Oil and Gas Nl and Adelphi Energy would stand to benefit the most with a discovery generating anywhere between 200 and 600 per cent leverage to current share prices depending on the size of the discovery.

A drilling campaign at the well is due to start in October or November and 3D seismic data has suggested the well could hold between 60 and 100 million barrels of recoverable oil.

Australian Worldwide Petroleum would only make small gains from a discovery due to its large market capitalisation.




The two other partners OPIC Australia and Coogee Resources are not listed on the Australian Stock Exchange.


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## Profitseeker (3 October 2005)

This one is moving by the looks of things  .


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## Profitseeker (3 October 2005)

*Bounty Oil article*

Must see article for people intrested in this stock!

http://www.norwestenergy.com.au/pdf/050922 Hartleys Note Magnolia-1.pdf


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## Profitseeker (3 October 2005)

Is anyone in this one or does any one like the look of it?


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## farmboy (3 October 2005)

Profitseeker - I took a bite at it about a month ago mainly on the advice of a friend in the oil-exp business who holds BUY and a few others himself. From that report you posted earlier today I might be wise to top up, although as my geologist mate cautions there are a lot of small companies hoping for a big win.


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## porkpie324 (3 October 2005)

profitseeker,yes i'm into BUY, been on my radar for a while, so bought in today, the chart also looks good nice increase on good volume, not to big a bite though its still in the exploration stage, also holding norwest, will be checking on adelphi&aus worlwide too.porkpie


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## porkpie324 (3 October 2005)

profitseeker, just a ps, have just read your hartleys article, really keen on adelphi now good chart too, porkpie


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## Profitseeker (4 October 2005)

The intial sesmic data looks good. I'm acumulating this one. Could be a good break.


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## Profitseeker (4 October 2005)

farmboy said:
			
		

> Profitseeker - I took a bite at it about a month ago mainly on the advice of a friend in the oil-exp business who holds BUY and a few others himself. From that report you posted earlier today I might be wise to top up, although as my geologist mate cautions there are a lot of small companies hoping for a big win.




Hi farmboy,

Understand what your geologist mate is saying. My attraction to this one though is there are also larger partners involved. The little boys are in effect hitching a free ride but stand to gain if oil is found.


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## Profitseeker (4 October 2005)

porkpie324 said:
			
		

> profitseeker, just a ps, have just read your hartleys article, really keen on adelphi now good chart too, porkpie





Agree with you on Norwest but in terms of adelphi it looks like from the article that you get much better returns from bounty oil and norwest.


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## The Bookeeper (6 October 2005)

If there is a find, do you think ARC will take more control of Adelphi Energy?
Or do you think they will wait until the final stages and 'merge' like they did with Voyager (VOY) RIP.


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## Profitseeker (17 October 2005)

Just announced that drill search have become a substantial share holder in this stock. Don't know much about drill sea  rch. Does anyone?


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## Profitseeker (17 October 2005)

NWE. Also operators in the Magnolia project. Just read their prospectus and it looks like they have done the dirty on their current share holders. Placing shares at 16c to everyone when share price 20c a week ago. ouch. Feeling lucky that i wam in Bounty and not norwest. might try and use this as an opportunity to get into Norwest though.


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## Profitseeker (18 October 2005)

*Trading Halt*

BUY just entered a trading halt. Any ideas why?


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## Yippyio (18 October 2005)

Trading Halt Announcement Attached - No explanation, trading to resume Thursday or sooner depending on the "announcement"


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## Profitseeker (18 October 2005)

Looks like it could be due to a bit of a squabble with the old director. Apparently he is trying to get directors of bounty removed from the board and replaced with two from drill search. Won't help the share price i should imagine.  :swear:


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## doctorj (18 October 2005)

Profitseeker said:
			
		

> NWE. Also operators in the Magnolia project. Just read their prospectus and it looks like they have done the dirty on their current share holders. Placing shares at 16c to everyone when share price 20c a week ago. ouch.




If NWE needed the capital, now was the right time to do it.  People will claim that they should have waited to Magnolia and issued shares somewhere between $0.50 and $1,00, but given that Magnolia has a 30% chance of success, better off a placement at $0.16 then a placement at $0.10 if Magnolia turns out to be a duster.  Company directors do not exist to play russian roulette with shareholders funds, an issue now is prudent management as it allows the company to continue to with their other projects even if Magnolia doesn't come through. NWE will still only have 217mill shares on issue after this announcement - safely at the low end of the junior oiler spectrum.


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## wayneL (18 October 2005)

I like the new avatar Doc.


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## doctorj (18 October 2005)

Cheers.

Are you settling into Gero well?  I noticed a couple of coastal properties in Greenough for sale in the paper last weekend, considering going up to have a gander.


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## wayneL (18 October 2005)

doctorj said:
			
		

> Cheers.
> 
> Are you settling into Gero well?  I noticed a couple of coastal properties in Greenough for sale in the paper last weekend, considering going up to have a gander.




Doc, still backwards and forwards between Gero and Perth, this weekend it'll be all over.   Hooray.

Regards Greenough: Missus comes from one of the Geraldton aristocratic families and an ex mayor of greenough shire is a family friend. If you want to find anything out, there's nothing she can't find out about the area.

Just send a PM


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## Profitseeker (19 October 2005)

doctorj said:
			
		

> If NWE needed the capital, now was the right time to do it.  People will claim that they should have waited to Magnolia and issued shares somewhere between $0.50 and $1,00, but given that Magnolia has a 30% chance of success, better off a placement at $0.16 then a placement at $0.10 if Magnolia turns out to be a duster.  Company directors do not exist to play russian roulette with shareholders funds, an issue now is prudent management as it allows the company to continue to with their other projects even if Magnolia doesn't come through. NWE will still only have 217mill shares on issue after this announcement - safely at the low end of the junior oiler spectrum.




But surely they could have made the issue only available to current share holders?


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## doctorj (19 October 2005)

Institutional holders are a necessary evil.


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## Profitseeker (22 October 2005)

Old director with sour grapes. Unbelievable. As if I am going to vote in favour of his proposal after this carry on. If he really wants to reak havoc that badly on the board he should have bought them out.


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## Profitseeker (24 October 2005)

Whilst BUY share price is down, DLS seems to be surging. Does anyone know why? Are people speculating that DLS may make a play for BUY so as to get access to Magnolia? Either way, I wish the players would just put their cards on the table and stop this struggle which is affecting the share price.


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## ozewolf (24 October 2005)

Hi Profit Seeker,

Bounty, Hardman and Woodside are in this which we all know.
Proper results will start to spud by first quarter of next year when they go into production.
Until then I'd be accumulating on market corrections only.

I personally used to have HDR and made a good return.

Regards
Ozewolf


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## Profitseeker (24 October 2005)

Hi Ozewolf,

Which of the projects are you talking about? I thought HDR had withdrawn from the project they had with BUY and i am not aware of any projects involving both Woodside and BUY? Please enlighten me.


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## Profitseeker (12 November 2005)

Bounty Seeks Injunction to Prevent General Meeting
Friday, November 11, 2005
Latest Oilvoice Headlines

Petrohawk Reports Record Third Quarter and Year to Date Results  
Veritas DGC Inc. Announces Appointments Of Two Officers  
Regal Petroleum Provides Ukrainian Update  
Chevron Executive Vice President and Former Unocal Chairman and CEO Charles R. Williamson to Retire  
Oilexco Receives DTI Approval for Brenda Field Development  
Revus Energy ASA Announces Financial Results For Third Quarter 2005  


Bounty Oil & Gas NL (Bounty) has today initiated proceedings in the Federal Court seeking an injunction to prevent a General Meeting, called by non-executive and former managing director Mr Tom Fontaine, from taking place on 17 November 2005.

Bounty believes that Mr Fontaine’s Notice of Meeting and the Proxy Form are in contravention of the Corporations Act 2001 (Cth) and the Company’s Constitution.

Mr Fontaine has called for a General Meeting of shareholders to be held just 9 business days before the Company has its scheduled Annual General Meeting. Mr Fontaine has been given opportunity to
have his resolutions added to the business for the AGM, but has not taken this opportunity.

The Company will inform the market as to the outcome of the injunction in due course.


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## Profitseeker (12 November 2005)

This argument that the board is having has really got on my nerves. If this had not happened I'd love to see where the share price would be in anticpation of Magnolia being drilled.


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## Profitseeker (17 November 2005)

My heart is beginning to flutter with this stock. if Magnolia is a success it will go to the heavens else death looms.


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## doctorj (17 November 2005)

Sell on spud!  

It's the way the game is often played.  If it follows other large, risky drills, it will make a short term high on or about spud date and drift downwards between spud and logs.  A duster will see it plummet well below pre-spud levels (see GOP) and a gusher will give you plenty of time to get onboard, you'll miss the gap up after news, but Magnolia is a big well and it should take a while to factor that fully into the price.

Also, my mail is that results of Magnolia won't be out until about Christmas.  Expected spud date first week December and about 3 weeks (23 days) to drill to TD.


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## Profitseeker (18 November 2005)

Sounds like a good plan.

I could have done with the drilling not being delayed though.


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## doctorj (18 November 2005)

Very tight rig market - delays are part of the game.


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## Profitseeker (18 November 2005)

Isn't the rig owned by Bounty though?


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## Profitseeker (23 November 2005)

Tom Fontaines mob have bought more shares in Bounty. Is this just a ploy to give themselves more votes at the AGM or do they know something?


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## etrader1 (23 November 2005)

Profitseeker,

I think it's a ploy to have more votes at the AGM because they know something! Tom Fontaine's mob at DLS surely would not waste their money  just to keep him on the board of BUY. They obviously see a value in BUY enough to put their money in the company. The current share price looks a bit depressing but I would hold on to my small parcel until Magnolia has been drilled.

Cheers!


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## laurie (23 November 2005)

etrader1 said:
			
		

> Profitseeker,
> 
> I think it's a ploy to have more votes at the AGM because they know something!
> Cheers!




And if that's the case to me that's inside trading.....now to prove it   

cheers laurie


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## Profitseeker (24 November 2005)

etrader1 said:
			
		

> Profitseeker,
> 
> I think it's a ploy to have more votes at the AGM because they know something! Tom Fontaine's mob at DLS surely would not waste their money  just to keep him on the board of BUY. They obviously see a value in BUY enough to put their money in the company. The current share price looks a bit depressing but I would hold on to my small parcel until Magnolia has been drilled.
> 
> Cheers!





That is what i am banking on mate. Good luck to you.


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## Profitseeker (28 November 2005)

Good announcement out today. (In my opinion) See attached.


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## Profitseeker (1 December 2005)

oh dear. TF reigns.


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## yogi-in-oz (12 December 2005)

Warning ..... astrostuff ahead:

Hi folks,

BUY ..... will be alert for some positive news
over the next couple of days, as 2 time cycles
slot into place ..... may be finance-related???

Another minor cycle due around 19122005, as well ... 

happy days

yogi


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## Profitseeker (12 December 2005)

Yogi what is this astro stuff based on?


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## laurie (12 December 2005)

Must be hard to keep track where you post yogi   

cheers laurie


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## Profitseeker (12 December 2005)

Maybe he has an astro posting system?


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## yogi-in-oz (13 December 2005)

Hi folks,

Some traders get confused by the price action
in many markets, as their analysis is solely based
on the fundamentals or the price action, with no
regard for the TIME elapsed .....

..... when either positive or negative cycles come
into play on any stock, a change in market
sentiment will not occur, until the time cycle
has expired.

NOBODY can continually trade against the natural
time cycles in the markets and expect to win.

However, if we can tune our market-timing into
the natural swings of that market, then we can
reasonably expect to take a profitable chunk
out of each rally or slide (if you are short).

A good example is HDR ..... our time cycle analysis,
posted around 30092005, forecast a negative cycle
coming into play, about now ..... 

Another example is PSA, where our astroanalysis
called for a negative cycle coming into play, today.

So, sometimes a little patience is required to
re-align our thinking with the actual market
swings.

Knowing WHEN to trade relegates the price to
being a tool for calculating profits (and losses).

happy days

yogi


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## Profitseeker (13 December 2005)

Intresting. How do you analyse and predict these cycles?


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## yogi-in-oz (14 December 2005)

Hi folks,

BUY ..... as per post above, placement announced
for woking capital, today .....

-----

Profitseeker:

Time cycles are based on Gann's work ..... mostly the 
astrostuff in his TTTTA book, from 1927.

Analysis is done by evaluating the time elapsed,
along the TIME axis of the chart, using simple maths,
geometry and astrology.

It can be back-tested just as easily as we can make
a forecast, by using an ephemeris.

happy days

  yogi


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## Profitseeker (14 December 2005)

Yogi. Is that positive news though? i expect the share price to go down as a result.


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## yogi-in-oz (16 December 2005)

Quite so Profitseeker,

BUY down on very light volume, showing there's
not many willing sellers ..... 

Any negativity will be soon shrugged off as the
monies raised are directed into further exploration
and positive sentiment rises on expectations, ahead.

happy days

  yogi


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## Profitseeker (16 December 2005)

happy days. though I think it will crash big time if Magnolia is a duster.


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## laurie (16 December 2005)

Profitseeker said:
			
		

> happy days. though I think it will crash big time if Magnolia is a duster.




Why! their exposure is only 10.4% quite understand if it was much larger, anyway time will tell

cheers laurie


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## Profitseeker (16 December 2005)

Lots of people have bought because of the Magnolia potential. Crazy but true.


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## laurie (16 December 2005)

Profitseeker said:
			
		

> Lots of people have bought because of the Magnolia potential. Crazy but true.




Profitseeker
Yes that alone may have attracted many into BUY and if GOP is anything to go by it will fall!........by how much is the Q

cheers laurie


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## Profitseeker (16 December 2005)

I reckon anywhere from 0.02 - 0.05. My opinion of course.


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## etrader1 (16 December 2005)

Profitseeker said:
			
		

> I reckon anywhere from 0.02 - 0.05. My opinion of course.




Profitseeker,

I agree Magnolia is the ONLY driving force for speculating on this stock. If Magnolia is a duster, we can kiss our money goodbye; however, if it turns out to be something of a company maker, we'll reap the rewards. Unfortunately, it's the way with specs. But I think with the number of companies already rolling their dice on this project, a lot of shareholders are holding on and not selling until Magnolia's results are in.

For now. its BHP! (Buy, Hold, and Pray!)

Cheers!


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## farmboy (16 December 2005)

All oil explorers are very risky but if you pick the right ones you can win big.

There are some people in the industry who think Magnolia is a good chance to succeed, or should I say a better chance to succeed than others, simply because they are drilling in a likely spot.

I don't know much about BUY's other efforts - I admit I am one of those only in it because of Magnolia. If Mag fails I suppose I will have to peruse their other "assets".


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## laurie (16 December 2005)

farmboy said:
			
		

> All oil explorers are very risky but if you pick the right ones you can win big.
> 
> If Mag fails I suppose I will have to peruse their other "assets".




Well that's the point not too many  oil explorers relies on one field only! they have several spread over far and wide and would have a fair idea that not all will come in,even getting rigs is hard to find!

cheers laurie


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## Profitseeker (20 December 2005)

Yogi do you hold buy?


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## yogi-in-oz (20 December 2005)

Hi folks,

BUY ..... as per post above, on 12122005:

13122005 ..... "may be finance-related???" = placement

19122005 ..... minor cycle = brings news of continued 
blood-letting in the hierarchy, with the resignation of 
the company secretary, today.

-----

Looking ahead into 2006, time cycles for BUY
show us possible key dates, on:

03012006 ..... minor news

06-09012006 ..... minor and positive ... finance-related???

18012006 ..... minor and positive

20-23012006 ..... minor and positive news


07022006 ..... significant and negative news???

10-13022006 ..... significant and negative move???

16022006 ..... significant and negative spotlight on BUY


02032006 ..... 2 cycles here ..... significant and positive
news ... finance-related???


happy days

yogi

P.S. ..... not holding BUY right now, Profitseeker.



=====


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## etrader1 (20 December 2005)

Hi yogi,

What's a "move" and a "spotlight"?

cheers!

p.s.
A new company secretary was appointed last 02 Dec 2005 so the announcement of the resignation of the company secretary was expected.


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

Hi etrader,

Thanks for the info about the secretary ..... with
such timing, probably still related to the change
in BUY management ..... yes???

"move" = price move

"spotlight" = a significant focus and/or price move in BUY, 
possibly triggered by substantial positive or negative news,
at that time.

happy days

  yogi


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## Profitseeker (21 December 2005)

So based on your analysis Yogi, Magnolia is going to be a duster?


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## yogi-in-oz (22 December 2005)

Hi Profitseeker,

BUY ..... analysis was posted for the company itself.

So if you think Magnolia results will surface in January,
then it's mostly positive, but if you think that the results
will be out around 16022006, then they may be negative.

If we can get enough spud data about the well itself, it
is possible to run some analysis, using some different 
astrotools, that may give some indications of success or
failure in the well ..... 

Very often, the well analysis and analysis for the well
operator will correlate very closely ..... note, that BUY 
is NOT the operator of Magnolia.

happy days

  yogi


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## Profitseeker (23 December 2005)

DLS just uped their stake in the company from 8% to 10%. Interesting move.


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## laurie (23 December 2005)

Profitseeker said:
			
		

> DLS just uped their stake in the company from 8% to 10%. Interesting move.




They now have over 10% of the voting power is that what they want or are they interested what's in the well?? then again maybe they are greedy and want both

cheers laurie


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## etrader1 (24 December 2005)

Hi laurie,

DLS don't buy shares in BUY just to have the voting numbers. Just like the rest of shareholders, they want returns from their investment. This is a sign that DLS thinks there is money to gain from Magnolia; otherwise, they won't increase their holding in the company. I won't be surprised if they increase this further down the road. 

Cheers!


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## laurie (24 December 2005)

etrader1 said:
			
		

> Hi laurie,
> 
> DLS don't buy shares in BUY just to have the voting numbers. Just like the rest of shareholders, they want returns from their investment. This is a sign that DLS thinks there is money to gain from Magnolia; otherwise, they won't increase their holding in the company. I won't be surprised if they increase this further down the road.
> 
> Cheers!




etrader

So do you think they may make a take over bid for BUY!!

cheers laurie


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## etrader1 (24 December 2005)

Hi laurie,

I can't say that. If Magnolia turns out to be a company-maker, it won't be far-fetched for DLS to increase their holding. 

A quick look at the websites of DLS and BUY lists some some interesting commonalities:
- Michael L. Hutt acts as the the Company Secretary for both BUY and DLS
- Graham C. Reveleigh is a member of the Boards of Directors of both BUY and DLS

Tom Fontaine, current ED of BUY is connected to DLS according to the former members of the BUY Board of Directors (possibly a significant shareholder, although his name is not mentioned on the DLS website). 

Hoping that Magnolia is not a dud.

Cheers!


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## Profitseeker (28 December 2005)

magnoila has spud. Cross your fingers!!!


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## Profitseeker (28 December 2005)

Are hermes and drill search the same company?


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## laurie (28 December 2005)

Profitseeker said:
			
		

> magnoila has spud. Cross your fingers!!!




Ok can u please explain what happens next I thought "Spud" was it!! once that happens black gold y/n?

cheers laurie


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## Profitseeker (28 December 2005)

no. SPud means they have started looking for the oil in ernest. ie; they are digging a hole.


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## doctorj (28 December 2005)

Good luck to those that hold all companies in the Magnolia drill.  23 days on a trouble free basis is between you and a potential a stack of money.

BUY (10.4%) and NWE (19.6%) haven't been bought up much in the lead up to this drill.  Taking a stab, a dry hole will see NWE fall to 10-12cps from a current price of 17cps with potential value to them of inexcess of 100cps. 

The drill is in ~100m of water in the Timor Sea so its not without very serious risks that the drill will fail - ignoring the fact that there may not even be commercial quantities of oil there. 

For the rest of us, I'm sure if there is announcement of success we will have plenty of time to jump in provided we want to pay the premium to do so.  Announcements on this drill scheduled every Tuesday.  Watch this space.


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## laurie (28 December 2005)

Profitseeker

Arhhh now understand thanks

doctorj

I assume if they do strike oil they would require a trading halt!!

cheers laurie


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## Profitseeker (28 December 2005)

They would require a trading halt for sure and one if they don't strike oil! No way out now.


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## laurie (28 December 2005)

Profitseeker said:
			
		

> They would require a trading halt for sure and one if they don't strike oil! No way out now.




LOL yeh very true Profitseeker,keep forgetting trading halts are for bad news also   

cheers laurie


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## Profitseeker (28 December 2005)

i am going to watch the share price closely just to see if there are any early indications from insider trading. Shout if you see one!


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## laurie (28 December 2005)

Profitseeker said:
			
		

> i am going to watch the share price closely just to see if there are any early indications from insider trading. Shout if you see one!




All I need to know is what the directors doing.....selling I'm out  :swear: 
buying I'm in for more...   of course the smart person will be taking a gamble now   

cheers laurie


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## Profitseeker (28 December 2005)

Directors won't be buying when they know the results before the market unless they want to be strung up. It will be their "friends" and the "friends of the "friends"


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## laurie (28 December 2005)

Profitseeker said:
			
		

> Directors won't be buying when they know the results before the market unless they want to be strung up. It will be their "friends" and the "friends of the "friends"




Ok so I assume that leaves trade volume figures?

cheers laurie


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## doctorj (28 December 2005)

Your correct, voume can be a leading indicator of price movement in this situations.  There's also nothing better for watching the screen to see parcels go through in real time.  If you're familiar with the behaviour of a specific stock that can provide a tip off as well.

BUY gapped up on light volume today but managed to close at the high. NWE however traded down about 8% on above average volume.  Not much to be learned from that so far.

What I was angling at before that when they do get results of the drill, they will announce them and it will give you the remainder of the halt to work out how much its worth to the company (I like to use prepared spreadsheets - if I'm trading it I will also have have some completed scenario analysis ahead of time so I can have a ball park figure as soon as I've read the announcement). 

Lets just say Magnolia is a success and you calculate that its worth 100cps for NWE (after discounting for time and risk).  It's unlikely that it will gap up by the full 100cps.  Depending on your time frame and the amount it does gap up, this is can be a buying opportunity while the market takes its time to fully factor in.

Company Makers in the junior oil and gas world can be exciting to hold through.  They're high risk/high return plays with the big advantage that they are comparably very fast to convert to cash flow relative to other mining operations.  If the risk isn't for you, there's still plenty of money to be made in these drills by selling on spud and/or buying after success.


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## Profitseeker (9 January 2006)

First two targets drilled and no oil. What are the chances now?


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## etrader1 (9 January 2006)

Profitseeker said:
			
		

> First two targets drilled and no oil. What are the chances now?




Hi profitseeker,

Market reacted negatively on today's news. Share plummeted to 0.064. It's only the first stage. The joint venture will continue drilling until they reach the target depth. The update next week will be the make or break announcement. Expect a trading halt next week prior to anouncement. 

Are you still holding shares on BUY?

Cheers!


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## etrader1 (9 January 2006)

Yogi,

I am keeping track of your astrostuff on BUY. Today's announcement was a negtive one and did not match with what you have expected. Was there anything that changed on your analysis? How do you look into BUY now?

Cheers!


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## yogi-in-oz (10 January 2006)

Yes etrader,

News was on time, but the sentiment was not as expected.

Sometimes, that happens ..... but, at least we knew WHEN 
to be looking for the news, which kept us alert.

NOTHING has changed with the rest of the anlaysis.

So, let's see how the rest of it pans out ..... 

happy trading

   yogi


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## Profitseeker (10 January 2006)

Yes i am holding. I thought they held the most chance of finding oil in the primary target though.


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## doctorj (10 January 2006)

It's unlikely that any hydrocarbons they find in the last 200m of drilling would be commercial.  In all likelihood they're continuing drilling to find evidence of hydrocarbon migration to help identify future targets. 

The only chance of commercial oil is a freakish seal in the lower Plover formation.  Finding oil where you don't expect it isn't entirely unheard of; ARQ hit an oil horizon in a layer they weren't expecting it in the Perth Basin quite recently.

It'll be interesting to see how much the likely failure in the lower section is already factored into the SP of participants.  6 seems logical support for BUY, 10 for NWE, 24 for ADI and AWE is anyone's guess.

Good prospects in plenty of other oilers at the moment.


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## Profitseeker (11 January 2006)

etrader1 said:
			
		

> Hi profitseeker,
> 
> Market reacted negatively on today's news. Share plummeted to 0.064. It's only the first stage. The joint venture will continue drilling until they reach the target depth. The update next week will be the make or break announcement. Expect a trading halt next week prior to anouncement.
> 
> ...





SOld. CEO failed to say anything exciting after the bad news.  If he had said anything upbeat i may not of.


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## etrader1 (11 January 2006)

Profitseeker said:
			
		

> SOld. CEO failed to say anything exciting after the bad news.  If he had said anything upbeat i may not of.




profitseker,

Yup. Same here. SOLD immediately. Time to move on. Such is the nature of specs.


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## Profitseeker (11 January 2006)

My opinion exactly.


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## yogi-in-oz (25 April 2006)

Hi folks,

BUY ..... off its confirmed lows now,
with some positive news expected,
about 01052006 ..... 

For a longer-term view, see attached
BUY chart, below.

Technically, shooting for an exit target,
around 13.5 on 13042007.

happy days

yogi


----------



## Profitseeker (25 April 2006)

Wouldn't touch this again with a barge pole. The management is crazy.


----------



## yogi-in-oz (26 April 2006)

Hi folks,

BUY ..... announced a small farmin to take a stake in
Dune-1 well, spudding this week, with EGO as operator ... 

That was enough to lift BUY off its lows, today.

happy trading

  yogi


----------



## yogi-in-oz (28 August 2006)

Hi folks,

BUY ..... updated astroanalysis gives us these
key dates, ahead:

04-05092006 ..... 2 cycles here, may be negative initially,
with some finance-related news (???), but positive sentiment
should win out in flat trading .....

11092006 ..... positive news here???

20-21092006 ..... positive spotlight on BUY ... 

27092006 ..... minor and negative (intraday)

28-29092006 ..... positive and finance-related cycle ???

-----

10-20 November 2006 should be a very positive
trading period for BUY ... 

happy trading

yogi


----------



## yogi-in-oz (25 October 2006)

Hi folks,

BUY ..... up more than 50% today, as Fontaine pulls a
rabbit out of the hat ..... 

Looking for a strong rally ...10-20112006 ???

happy days

  yogi

P.S. ..... holding BUY, again.



=====


----------



## Trader Paul (4 April 2008)

Posted 04042008:

Hi folks,

BUY ..... allotment of shares from recent SPP should have been done today, so
there will likely be an announcement, early next week ... 

Other time cycles ahead for BUY:

04-07042008 ... positive news expected ... finance-related???

16-17042008 ... 2 cycles here and news expected

28042008 ... minor cycle

01052008 ... significant and negative news expected

05-06052008 ... aggressive rally expected, triggered by positive cycle

16-19052008 ... negative spotlight on BUY

22-23052008 ... significant and negative news ... finances???

16-18062008 ... 2 difficult cycles = flat-to-down trading ???

27-30062008 ... significant and negative cycle expected here.

July 2008 may well be a positive month for BUY ...

More later .....

have a great weekend

paul



=====


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## StockAsArOck (12 September 2008)

*BUY - Bounty Oil & Gas*

Trading at 52 week lows (current sp - 0.031)
These levels have not been seen since Nov. 06, and when they were, it launched to highs of 5c+ peaking higher still.
Chaikin seems to be pushing out of negative territory despite RSI very obviously being belted.These signs in their nature, are the opittomy of what make a "spec stock" interesting to me.
In short, ITS NUTS OUT TIME....
Offended squirrels please forgive.

I hold a small chunk, Im sitting for now, until it gets expensive, or worse still...........I get bored!  This has yet to happen.
I should also point out "fundamentals" are of little interest to me, as they are too often corrupted, in both senses of the word.

Looking for quite an unrealistic medium term hold to attain 0.06 area, then double up, dump, free carry, re enter, and ride....
But that's what they all say yeah?

lol
StockAs


----------



## shaunboi (13 September 2008)

i have been keeping a good eye on this company and decided to invest the other day as the share price didn't seem to be getting any lower. with some recent bad news coming from BUY i still have good feelings about this company and expecting to see some good numbers in the next few weeks.


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## prawn_86 (13 September 2008)

shaunboi said:


> i have been keeping a good eye on this company and decided to invest the other day as the share price didn't seem to be getting any lower. with some recent bad news coming from BUY i still have good feelings about this company and expecting to see some good numbers in the next few weeks.




Why do you have good feelings?

Why do you expect good numbers?

A bit of analysis is required here.

Thanks

Prawn


----------



## shaunboi (13 September 2008)

they released a progress report on the 8th September which i had quickly had a look over and did not like what i was reading. they had drilled to the depth of 2,886 meters with no oil that could be produced. after reading it again they do mention. 

"The well will continue to drill ahead in 12  ¼” (311mm) hole to intersect the Plover sandstone which is
a producible oil and gas reservoir sand in a number of offsetting fields.
The planned total depth of the well is estimated to be 3,323 metres."

they started on the 22nd of august and has taken them 3-4 weeks to drill 2886m so within the next week they will have reached the depth of 3,323 where the 3rd and last level is. 2 out of 3 is not a good sign but as they said in one of there reports that the last level is capable of producing oil.

I am still new to this so i dont know if this means anything to anyone else but its enuff for me to jump on board. this is the first time i have posted my opinion i usualy just read everyone elses ideas and analysis so im not sure if what i have said is what people look at when thinking about investing. let me know.

ADDED: also looking at the charts. i know it shouldnt really come into it but at the moment the share price is at its lowest in years and after looking at the rise and falls everytime it goes down to around 4c it goes back up to 6-9c as StockAsArOck stated earlier. BUY at this price can only be good for people coming onboard.

regards shaun


----------



## StatsMan (14 September 2008)

prawn_86 said:


> Why do you have good feelings?
> 
> Why do you expect good numbers?
> 
> ...




I can't believe how badly the BUY share price has been trashed the last few weeks! I'm not really phased if the current drilling rig off WA doesn't find anything... it was a Wildcat play and Bounty only has a 10% stake in it.  Sure it'd be nice if it turned up something, but it wasn't the project that I had my eyes on.  Having run some numbers on the Kilwani North gas discovery in Tanzania, this looks like it will provide bounty with a nice little income stream for future project development.


----------



## StockAsArOck (17 September 2008)

Major holder moves are of interest to me at the moment, as I suspect most of the movement were seeing right now (yes, the negative movement) has and element of "rich man aquiring" about it.
Trouble is, from my observations, no ones selling apart from him and maybe a few skittish day traders looking for a fast ride, this has created what I call a "fake queue".
This is namely a queue that has the "average trading range" covered by one or two holders, via multiple accounts/brokers.
The average trading range refers to the allowable order placement range, ie comsec say being 500 min with a max sell not being beyond a 25% gain on average.
Major holders can feed the queues with multiple orders, buy and sell, and see clearly when a genuine seller or buyer enters, thus achieving a monopoly on that particular stocks price movement.
My theory is, that this is ALWAYS a indicator to watch closely, its just not a guaranteed win signal, as they dont exist in my opinion.
Short term the trend should continue to look as though its a stock being hammered, but the reality is quite different, someone wants you little holders to pi$$ off and sell up, WHY????



StockAs


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## Shrewd Crude (21 September 2008)

Ive spent a few hours studying this company this afternoon...
I think it looks pretty attractive in the low 2cents as its got Kiliwani discovery which could offer revenues of up to 10 million dollars per year...
for a MC of around 6m...
and 4th quarter drilling coming up...
Humm... Im going to think about this company over the next month...

.^sc


----------



## seasprite (28 October 2008)

Extract from MEC Resources

Prospective Recoverable Gas Resources Estimated up to 16.3 Tcf (P10) for PEP11 Offshore Sydney Basin

· Technical review of PEP11 Offshore Sydney Basin completed

· Six prospects identified with total estimated prospective recoverable gas resources of up to 16.3Tcf (P10)

· Advent currently looking to secure an appropriate drilling rig, including farm-in options

MEC Resources Limited (ASX: MMR) is pleased to advise that investee company Advent Energy Ltd (“Advent”) has completed a technical review of the prospective recoverable resources within the PEP 11 Offshore Sydney Basin. 

In summary, six prospects and leads have been identified which Advent estimates could have up to 16.3Tcf (P10) prospective recoverable gas resources. 

The P50 and P90 estimated prospective recoverable resources are 5.1Tcf and 1.2Tcf respectively.

Advent commissioned specialists from the Nanjing Institute to integrate the PEP11 1981, 1991 and 2004 seismic data for the first time. They have interpreted and mapped five key horizons.

Advent has used these maps to estimate the gross rock volumes to complete a Monte Carlo probabilistic estimation of the range of possible recoveries from each prospect. 

Previously published reports and studies were used to estimate the range of values for other parameters such as porosity and gas saturation. These studies have been disclosed in previous ASX Announcements by MEC Resources on 08/08/08, 15/09/08 and 25/09/08. 

The P10, P50 and P90 numbers quoted above are an arithmetic sum of the estimates for the six prospects and leads.

The largest of these is the new “Fish” Prospect which alone has a P10 prospective recoverable gas resource of over 9.0Tcf.


----------



## seasprite (12 November 2008)

12 November, 2008

Dear Sir/Madam

Confirmation of hydrocarbon gas in offshore Sydney Basin
MEC Resources Limited (ASX: MMR)

A hydrocarbon gas source has been analysed and confirmed in the offshore Sydney Basin. The confirmation of a hydrocarbon based gas analysis was released at the Petroleum Exploration Society of Australia (PESA) “Eastern Australasian Basins Symposium” 14-17 September 2008.

The confirmation of this type of hydrocarbon gas seepage is an extremely significant development for MEC Resources investee Advent Energy, which holds an interest in the offshore Sydney Basin Petroleum Exploration Permit PEP 11. Active seeps of the nature reported are considered by experts in this field to occur in basins now actively generating hydrocarbons and or that contain excellent migration pathways. The methane gas has been reported by independent testing to comprise a mixture of thermogenic and biogenic gas. 

Hydrocarbon gas analysis has been confirmed to be;

Methane(CH4) - 90.69%
Oxygen(O2) - 1.58%
Carbon Dioxide (CO2) - 4.12%
Nitrogen(N2)- 3.7%

The gas seepage has been observed from repeated sea floor positions in an area off the coast of New South Wales and along the mainland margin of the PEP11 Permit. The gas is believed by Advent Energy to be sourced from areas within the PEP11 permit area.

The area where the gas has been identified is in the same area where oil and gas seeps have been recorded from Long Reef to Catherine Hill Bay, giving rise to periodic oil slicks occurrences along the coast , especially in the Cape Three points, Terrigal area. Visible gas seeps have been audio-visually recorded, and are available to view at www.adventenergy.com.au as is the full version of this announcement.

MEC is pleased to advise that investee company Advent Energy Ltd (“Advent”) is confident that the offshore Sydney Basin is an active hydrocarbon system following the recent industry research and reporting on the area.  Advent holds an interest in the offshore Sydney Basin Petroleum Exploration Permit PEP 11.

Advent is in discussions with a number of international oil sector groups on potential joint ventures.  

Advent is also continuing to pursue the securing of an appropriate drilling rig.


----------



## YOUNG_TRADER (17 July 2009)

BUY is a stock that caught my attention last week after a volume spike

The company appears to have many oil and gas projects on the go

*Utopia* it is producing small amounts of oil and gas and aims to increase production to take advantage of its high margins here
*
Surat/Qld * the company has a large land holding with many 5M barrel + oil targets 

*
WA Onshore* company has a free carried interest in some small to medium sized oil and gas targets

*
Nyuni* the company made a gas discovery with KEY petroluem (5% BUY 20% KEY) last year I'm not sure what this is worth but they estimate it may contain as much as 1TCF of gas

*
WA Offshore* now we get to the more sexy company making assets
has 2 permits with large high impact oil and gas targets, same sort of area that KAR and MEO operate in
*
PEL 218* A very interesting oil and gas permit with good CSG potential, BUY has a 23% interest in smack bang in the middle of INP's CSG field to the North where AGL have farmed in for 35% by paying $25m, also to the south lies STX's 66.7% owned CSG prospect where they estimate there to be 8-20TCF CSG
Elephant ground in terms of CSG

Also with their other Qld projects surely given the widespread occurances of CSG/UCG throughout QLD some of BUY's permits which are near and next door to known CSG fields will have CSG potential?

*
PEP 11* This could be a real company maker, BUY have a 15% free carried interest here and the permit could hold up to 16TCF which if proven has an NPV of $12B+ according to company reports and estimates



The company has alot of projects with good sexy upside and I like it

DYOR


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## mobcat (17 July 2009)

Cool YT i hold BUY it do,s look to be having a growth spurt of late i see that it did 25 Mill in Vol last friday Vwap of 3.8 and over a 100 Mill in the last week With a Vwap of 3.4 Makes whats on offer @ 3 ATM rather appealing i think i might be having a little top up in BUY.

I really like the offshore Sydney Project Gas Project this can really rerate BUY,s Mcap IMO after all it,s only 15 mill ATM with BUY,s a 15% free carried intrest in the project on this firming up i can I think BUY will prove to be a great BUY at these levels (pardon the pun)


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## mobcat (17 July 2009)

I have just topped up @ 3 i see a the jack up rig tender Ann could really come any time Imagine the spotlight that could put on the PEP11 project Offshore Sydney with the big Halogens burning all night Kinda like a big Billboard for Bonty Oil and GAS Burning on the Ocean one can only imagine what it would do to the SP once in place.
 GEEZ i think i just talked my self into grabing a few more LOL


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## mobcat (17 July 2009)

And i did grab a few more @3 lucky i did i just see she closed @ 3.3 quite strong asweell on the close, sure interesting times ahead for BUY i do wonder where all this action is coming from of late BUY is doing huge VOLs now , well i dont care now im topped up and on board so lets party :band :dance:


----------



## YOUNG_TRADER (20 July 2009)

Very interesting read of Keys presentation just now

BUY has 5% of the Tanzanian Gas project where Key have a 20% interest

KEY are yet to release an estimate of how much gas is there, but unrisked  potential was around 2TCF of gas

Be interesting to crunch some numbers to see what this is worth at say $10 barrel of Oil Equivalent


----------



## RP_Automotive (20 July 2009)

YOUNG_TRADER said:


> Be interesting to crunch some numbers to see what this is worth at say $10 barrel of Oil Equivalent




well, rule of thumb is 6000cf Gas = 1bbl Oil equivalent

so

 2000000000000  / 6000 = 333333333.33

So 333.3mmboe x $10

*In English: 333 miilion barrels of Oil equivalent @ $10bbl = $3,333,333,330*

Assuming a modest 25% recovery factor and your not doing too bad. Also need factor in the cost of infastructre etc etc


----------



## YOUNG_TRADER (22 July 2009)

Good to see 3c hold up as support the last few weeks

While BUY has many projects on the go my guess is the success KAR has had which imo is rubbing off on MEO may also be rubbing off to a lesser extent on good old BUY



MEO was 5c I think 2-3months ago and now just look at it 36c+
and KAR was about $1.50 3months ago and now its $10.50+
I winder where BUY will be in a few months once they get the drill rig sorted for the huge 16TCF+ Offshore Sydney prospect







YOUNG_TRADER said:


> BUY is a stock that caught my attention last week after a volume spike
> 
> The company appears to have many oil and gas projects on the go
> 
> ...


----------



## Jay-684 (22 July 2009)

I too have taken a decent position in BUY over the last few days after watching and reading the past week when it spiked to 3.8-4c.

Happy to see it hold above 3c, and particularly todays action.

Will hold for the medium term and await the drilling results!


----------



## Bluebeard (25 July 2009)

This stock finished the week at $0.032 which is probably disappointing for those who purchased earlier in the week and to higher levels. What do people consider to be a possible outcome for a stock like BUY if oil prices fall or there is a fall on Wall Street leading to falls on our markets in Australia. Would such falls be problematic for BUY or does BUYs projects mean that it can overcome such things.


----------



## Jay-684 (27 July 2009)

Up to 0.034 again this morning.

Some nice sized trades going through early on:

600,000 @ 0.034 10:34
300,000 @ 0.034 10:24
695,000 @ 0.032 10:19

not huge parcels but considering the size of the company its good to see its not just trading in small $1-2000 lots.


----------



## Bluebeard (5 August 2009)

BUY is still around the 3c mark. What is peoples expectations of when new news will come out? Do people still think this is a decent bet at 3c level marks?


----------



## YOUNG_TRADER (5 August 2009)

Doesn't look like its gonna drop below 3c much

3c looks like support 

It looks like its going range between 3c-3.5c 

The catalyst for a re-rating or more interest will be when they finally get ready to drill PEP 11


----------



## Jay-684 (10 August 2009)

New announcement this morning re Wakefield 1 well in Eromanga Basin, SA.

BUY estimate upside value as a result of this well (excluding upside in the Sydney Basin) to provide a sp bet 5-23cps

announcement below....:

10 August, 2009
Bounty to Drill Wakefield 1 Well,
PEL 218 - Eromanga Basin SA
Bounty Oil and Gas NL (“Bounty”) is pleased to announce that it will participate in the
Wakefield 1 oil exploration well in PEL 218 Eromanga Basin, South Australia (See
Map 1).
The well will spud in mid-September. It will undertake a multi-zone test of the
Wakefield Prospect targeting up to 11 million barrels of oil recoverable in 8 possible
reservoirs. The prospect is located 7 kilometres west of the Burley 2 well which
recovered good oil shows which were not effectively tested due to mechanical failure.
Success with this well could have significant upside for Bounty shareholders with
potential increase in enterprise value of between 5 – 23 cents per share.
On completion of this well to casing point, Bounty will have earned 23.28% working
interest in the sequence above the Permian of the Cooper Basin in the whole of PEL
218.
PEL 218 is a large permit of 1600 km² offering oil, coal seam gas and tight gas
potential.
Bounty is an Australian ASX listed oil producer and explorer. Its core petroleum production and
exploration assets are located in the Cooper/Eromanga Basins in South Australia and
Queensland and in the Surat Basin
Bounty’s growth assets are spread over a number of high impact projects in Australia and
Tanzania where it is exploring for oil and gas. In Australia, it is a participant in PEP 11, Sydney
Basin, with up to 5 trillion cubic feet (Tcf) gas potential as well as other permits. IN Tanzania it is
a participant in the recent Kiliwani North gas discovery and is exploring additional gas pools
with up to 1 Tcf potential.
Bounty has reserves approaching 3 million barrels of oil equivalent.
For further information, please contact:
Graham Reveleigh
Chairman
Tel: +617 4033.1805
Email: mining@cairns.net.au
Philip F Kelso
Chief Executive Officer
Tel:+612 9299 7200
Email: geo@bountyoil.com
Website: www.bountyoil.com

obviously DYOR, I will be holding for both the results of this test and the test results from the Sydney Basin...


----------



## YOUNG_TRADER (10 August 2009)

YOUNG_TRADER said:


> Doesn't look like its gonna drop below 3c much
> 
> 3c looks like support
> 
> ...




Well looks like the catalyst for a re-rating/more interest was them talking about drilling a different well which if successful could be worth *5c-23c a share BUY*


----------



## Jay-684 (10 August 2009)

4.0-5.5c seems to have been its trading range Dec 06 to Feb 08.... any luck it will find a new support level around 4c until the Sep announcement.

All time high volume today as well of >30m shares traded

YT - you know much about Wakefield 1?


----------



## YOUNG_TRADER (11 August 2009)

Dont know much about Wakefield other than its in PEL 218 next door to the DLS/BPT drilling in PEL 91


Finally banked some profits today just under 5c, nice 65% return


----------



## mobcat (14 August 2009)

Good news today crew from MMR funding for PEP11 firming up Bounty should ANN same monday so i wouldnt be suprised with another leg for BUY on monday i took a few more on board today on the back of it


----------



## LeeTV (17 August 2009)

*Bounty's big energy*
_PURE SPECULATION: Robin Bromby | August 17, 2009 
Article from:  The Australian_
http://www.theaustralian.news.com.au/business/story/0,28124,25937534-18261,00.html

ONE of the constants of living under the shadow of Pure Speculation is what the Americans call Monday morning quarterbacking, and in our case this involves being told -- usually in no uncertain terms -- where we got the wrong end of the stick.

Don't misunderstand; we are thrilled to know that someone out there is reading this every week (and especially those who, rather than part with $1.50 for a copy of the paper, email in outrage that the column is late being posted on the website). 

Three years ago, when this column had just begun -- yes, we know, it seems longer, much longer -- one of the earliest such Monday morning emails was to take Pure Speculation to task for publishing an item about a history of oil slicks being sighted off the NSW coast from Newcastle. 

We said that Bounty Oil & Gas (BUY), which held the exploration licence for that offshore area, believed this was a big lead, that the slicks were caused by natural seepage from the seabed. The licence area had been dropped in the early 1990s by Santos (STO), which, although it had found some gas, was too heavily focused on the Cooper Basin at that time. 

Nonsense, came the emails. Those slicks were more likely from ships discharging oil into the sea. And there the matter rested. 

Bounty is now in joint venture with unlisted Advent Energy, which is controlled by listed pooled development fund MEC Resources (MMR). Now the quest for (mainly) gas but also some oil off this part of the NSW coastline is getting serious. And Queensland coal multi-millionaire Ken Talbot, through his private investment company, has taken a 10 per slice of Advent. 

MEC believes there could be more than 16 trillion cubic feet of gas and has started on the road to raising serious money by mandating Pareto Securities of Norway as the lead broker for Advent's capital raising. Advent has the stake in the project as MEC's fund status (free of capital gains and dividend taxes) prevents it from operating a business. 

Pareto has raised some very big money for clients in recent years, and big sums will be needed given that the MMR-BUY permit covers 8100sqkm. Good timing, too, with the cost of drill rig hires being about half what it was a few years ago. 

Seems like there's more to this story than just a couple of bulk carriers discharging from their bunkers.


----------



## Jay-684 (17 August 2009)

Currently sitting pretty at 6.0c after todays announcement re PEP11 funding.

I'm free carrying BUY now so any upside will be gladly taken!


----------



## YOUNG_TRADER (17 August 2009)

Really surprised there's not much talk on this volume is ridiculous!

Was a no brainer at 3c hope other took the punt too

I know you did Jay lol


----------



## Jay-684 (17 August 2009)

YOUNG_TRADER said:


> Really surprised there's not much talk on this volume is ridiculous!
> 
> Was a no brainer at 3c hope other took the punt too
> 
> I know you did Jay lol





I certainly did! Unfortunately couldn't get in bang on 3c but a profit is still a profit!

Very tempted to offload my final parcel and lock in the profit, but will hold and see what September brings.


----------



## wtang89 (17 August 2009)

Congrats to all the folks that held on . I, unfortunately, offloaded at the 5c mark and missed out on a nice 40%!. Did you guys notice MMR SP today? damn....up 160% almost despite 6m volume. Ridiculous .


----------



## normanstyles (17 August 2009)

looking at Bounty today, i'm new to this, why has there been a massive jump in volume and price?! The price has opened at .47 and has risen to .80, change of 67%.


----------



## Jay-684 (17 August 2009)

normanstyles said:


> looking at Bounty today, i'm new to this, why has there been a massive jump in volume and price?! The price has opened at .47 and has risen to .80, change of 67%.




My advice would be to read the announcements that the company has released over the last few days - they are the reason for the movement in the sp.

Use the search function as much as you can on here, plenty of stuff to learn from some pretty experienced guys!


----------



## LeeTV (17 August 2009)

wtang89 said:


> Congrats to all the folks that held on . I, unfortunately, offloaded at the 5c mark and missed out on a nice 40%!. Did you guys notice MMR SP today? damn....up 160% almost despite 6m volume. Ridiculous .



 I noticed! After buying a parcel of BUY @ 4.5c last Tuesday I then got a parcel of MMR @ 11.5c on Wednesday after doing some research and noticing it was down 8% for the day. Currently up over 200% for MMR


----------



## wtang89 (17 August 2009)

Haha nice work there lee. I am thinking that the recent rally by BUY seems a bit too optimistic...would be interesting to see if there will be a back draw tomorrow. What you guys think about BUY at 8c? think it will hold? would it continue to rally?


----------



## sirronron (18 August 2009)

LeeTV said:


> I noticed! After buying a parcel of BUY @ 4.5c last Tuesday I then got a parcel of MMR @ 11.5c on Wednesday after doing some research and noticing it was down 8% for the day. Currently up over 200% for MMR





Hey Lee - no one believes you so please don't post like that anymore!It's really annoying. I'm sure you will post about the big market mover tomorrow as well!!


----------



## LeeTV (18 August 2009)

sirronron said:


> Hey Lee - no one believes you so please don't post like that anymore!It's really annoying. I'm sure you will post about the big market mover tomorrow as well!!



Hey sirronron get over yourself. I'm so sorry for being a little excited about some research that has finally paid off in a big way. You believe what you want to believe 


Attached is an electronic contract note confirming CommSec has BOUGHT 66000 shares in BUY at $0.045000 on your behalf. 

You will need Adobe Acrobat to access the contract note. 

This document is automatically generated by Commonwealth Securities Limited (CommSec). Please do not reply to the message. If you have any questions, simply call us on 13 15 19 between 8am and 7pm (EST), Monday to Friday, or email shares@comsec.com.au. 

Thank you for using CommSec. We look forward to serving you again in the future. 

Kind regards,
Commonwealth Securities Ltd.
http://www.commsec.com.au


Attached is an electronic contract note confirming CommSec has BOUGHT 26000 shares in MMR at $0.115281 on your behalf. 

You will need Adobe Acrobat to access the contract note. 

This document is automatically generated by Commonwealth Securities Limited (CommSec). Please do not reply to the message. If you have any questions, simply call us on 13 15 19 between 8am and 7pm (EST), Monday to Friday, or email shares@comsec.com.au. 

Thank you for using CommSec. We look forward to serving you again in the future. 

Kind regards,
Commonwealth Securities Ltd.
http://www.commsec.com.au


----------



## wtang89 (18 August 2009)

lol ignore people like him Lee; he is just venting because he missed out on a massive spike. Although i must say if BUY spikes anymore, i might need to vent as well.


----------



## prawn_86 (18 August 2009)

wtang89 said:


> lol ignore people like him Lee; he is just venting because he missed out on a massive spike. Although i must say if BUY spikes anymore, i might need to vent as well.




Lee has provided broker statements showing his purchases. What more do you want? 

Now please lets all get back on track discussing the stock and why it is moving, as opposed to just price commentary. Any further off topic posts will be removed.


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## YOUNG_TRADER (21 August 2009)

YOUNG_TRADER said:


> BUY is a stock that caught my attention last week after a volume spike
> 
> The company appears to have many oil and gas projects on the go
> 
> ...




Having bought a few million around the 3's this stock is really paying off

New presentation out  with the key part
*

"If the well is a commercial success BUY estimates an Increase in its Enterprise Value (IEV) of $2.75/share"*


----------



## Jay-684 (21 August 2009)

YOUNG_TRADER said:


> Having bought a few million around the 3's this stock is really paying off
> 
> New presentation out  with the key part
> *
> ...





I thought you sold out around the 5c mark YT? You keep some skin in the game?

I'm the same..... in hingsight I wish I had kept it all in - some you win big, some you win real big! (and some you lose)

Good luck to all who hold!


----------



## YOUNG_TRADER (21 August 2009)

When I load up and buy millions I sell a few on the way up to take profits but always keep some skin in the game


This little beauty has taken my net wealth back above pre GFC crash days! 

Any chart views out there?


----------



## shoe crew (22 August 2009)

Young T,
I said it before...
you are a freak.....
I saw BUY and said it here at 2c but never mustered up the balls to take it on..... and yet again you hit the ground running...
you homer it every time, like no other....
LKO.... BUY of late....
young and rich...
yep... 
must be...


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## Donga (22 August 2009)

Young T: BUY and MMR - great stuff. Along with BLY, certainly helps to overcome GFC blues. Assuming both spikes are due to PEP11 activity, my only advice is to look at the ratio MMR:BUY SP, given the minor BUY interest in PEP11 and the number of shares in BUY vs MMR. Either BUY is overpriced or MMR is undervalued, even though they've increased around the same % recently. I hope it translates to further SP increases in MMR and MMRO, but something to keep your eye on. Best wishes with PEP11


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## LeeTV (22 August 2009)

MMR is undervalued imo. Keep your eye on Grandbridge too(GBA). GBA holds 7 million MMR plus 7million MMRO.


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## SUNYA2006 (23 August 2009)

LeeTV said:


> MMR is undervalued imo. Keep your eye on Grandbridge too(GBA). GBA holds 7 million MMR plus 7million MMRO.




Hi, Lee:
  Can you explain further if GBA is hoiding 7 millions units of MMR or investing 7 millions$ in MMR? You know there is huge difference between them. In annual report of GBA, it said there is 7 millions$ conditional funding in MMR. But GBA only has 2.5 millions net assest currently which makes me confusion.


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## LeeTV (23 August 2009)

SUNYA2006 said:


> Hi, Lee:
> Can you explain further if GBA is hoiding 7 millions units of MMR or investing 7 millions$ in MMR? You know there is huge difference between them. In annual report of GBA, it said there is 7 millions$ conditional funding in MMR. But GBA only has 2.5 millions net assest currently which makes me confusion.




Grandbridge(GBA) are the 2nd largest holders of MMR and MMRO:

Grandbridge Ltd 9,747,362(13.99%) MMR
Grandbridge Ltd 7,533,228(13.99%) MMRO

Mr David L Breeze is a director of both MMR and GBA


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## Garpal Gumnut (23 August 2009)

I don't know anything about this stock but technically in retrospect it has been a dream run for any chartist who got on board in early to mid July.

It broke upwards out of a trading range at .032.

A useful stop loss level was available at 0.025.

As it moved up the stop was successively raised to 0.042 and 0.066.

On 12th Aug one would have had to make a decision whether to close out as the stop was briefly breached and a nowhere day continued.

Those who stayed are grinning.

Its now at 0.12, a 400% change in 2 weeks for some. 

A fibonnaci retracement indicates where support and possible stop losses may be for this nugget perhaps at the 50% retracement 0.095, unless it truly is for blue sky.

A good trading stock.

gg


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## Donga (23 August 2009)

GG - As good as BUY looks to you from a chart perpective, strongly suggest you consider two realities much covered in another forum where they been going nuts over BUY and a little more sensibly regarding MMR, being: 

1. On the maths relating to BUYs 15% interest in PEP11 vs MMR's interest as well as the number of issued shares in each, either BUY is overpriced or MMR is undervalued, hopefully the latter. 

2. Profits from MMR are not taxable which seems to be under the radar on this forum, possibly because you can't see that with a chart 

I'm surprised at the lack of interest in MMR in ASF, maybe the relative low number of posts of the contributors is a factor? 

Can't remember if they had internet stock forums when Tasminex and Poseidon where in their prime


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## LeeTV (24 August 2009)

Donga said:


> GG - As good as BUY looks to you from a chart perpective, strongly suggest you consider two realities much covered in another forum where they been going nuts over BUY and a little more sensibly regarding MMR, being:
> 
> 1. On the maths relating to BUYs 15% interest in PEP11 vs MMR's interest as well as the number of issued shares in each, either BUY is overpriced or MMR is undervalued, hopefully the latter.
> 
> ...



Hey Donga. Have another look at the chart he is referring to *GBA* not BUY guess we should stop chatting about GBA in the BUY thread


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## YOUNG_TRADER (24 August 2009)

I am utterly speechless 

A run like BUY from 3c - 15c in a month or so is just one of those once in a blue moon type things

It bodes well for all investors though as its story will draw those who have been away from investing back into the market

I apologize but I'm so blown away I can't comment fundamentally or technically on the stock


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## Donga (24 August 2009)

Hi Lee - I don't think so, as looks like Garpal's  numbers and timing refer to BUY. Interesting morning so far. Market is finally beginning to factor in MMR interest in PEP11 vs BUY. Not sure the pooled development fund status (pdf), has sunk in yet and this forum has been very quiet on both stocks .


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## mobcat (26 August 2009)

At the end of the day we have invested in BUY for a diversified forward planned profit and for me this has come to fruition ATM and i am happy to stick to the game plan for the MT to
LT with a sizable slice of the script if it pans out like we are told by the recent Ann's Alls good IMO and we as holders could be part of a major energy supply line to one of the greatest city's in Australia a bit like a extension cord to power Sydney in Green energy for the future from 20ks off shore weather it be fuel to fire desalination plants or gas to cook our dinner or keep us warm in winter or fire up the boilers of industry to employ us if PEP11 one of many of Buy's tenements come's to the point of cash flow we as holders will be part of a major future slice of Australia's Energy future and i feel a tad proud of that and proud to back the potential of BUY with my fold because at the end of the day we are all stuffed going forward if we haven't sovereign ENERGY to supply AUSSIE growth good on BUY for being a link in the chain or at least trying IMO we need more of this to backed by our government and not some Norwegian Bank to profit from the spoils of our birth right in the lucky country that is being sold down to off shore intrests why the hell do we have to go offshore for funding when we have the fold here from so many resources and cash flow from them in our back yard i will never understand , and i do think this problem needs to be addressed by our government in a hurry before we sell the best part of the farm to foregien intrests to profit from when we as Aussies are more than capable of funding our own exploration for our kids and grand kids in such a potentialy huge supply line of GREEN energy :band:dance::dance::dance::dance:


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## LeeTV (27 August 2009)

SUNYA2006 said:


> Hi, Lee:
> Can you explain further if GBA is hoiding 7 millions units of MMR or investing 7 millions$ in MMR? You know there is huge difference between them. In annual report of GBA, it said there is 7 millions$ conditional funding in MMR. But GBA only has 2.5 millions net assest currently which makes me confusion.



Hi SUNYA it seems lots of holders have been emailing GBA in regards to this and they posted an announcment yesterday in that regard.


26 August 2009

Companies Announcements Office
Australian Securities Exchange Limited
10th Floor, 20 Bond Street
SYDNEY NSW 2000

Dear Shareholders
Grandbridge Limited would like to clarify its holdings in its investee companies MEC Resources Limited (ASX:MMR) and BioPharmica Limited (ASX:BPH).

Grandbridge Limited holds the following interests:

MEC Resources Limited
Ordinary Shares – 9,747,362 (8.9% of fully issued share capital)
Listed Options – 7,310,522

BioPharmica Limited
Ordinary Shares – 6,778,200 (9.0% of fully issued share capital)

Yours Faithfully,
Deborah Ambrosini
Company Secretary


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## pcr_bull (29 August 2009)

Hi all,

Sorry I am only new to the site... but I been trading BUY for past 14mths, its been quite kind to me, although I been watching the fundamentals and trading technicals. However, until 2mths ago I decided on the fundamentals its a good smart & stable company. One thing that had confused me until very recent (not clear previously) was the relationship between the drilling of a well & the percentage being adjusted with MMR/Advent. I am free riding MMR & holding on BUY for greater gains. Bounty.. how ever small scale it has been in the past years... 'has' been filling barrels regardless of well size & selling! The direction and management is true to line & focus not just filling directors pockets or drilling useless holes for the sake of doing something. I feel fundamentally it worth a buy but this stock is very subject to market releases and tends to run and pull back until the next release. But i interperate it as 'not running too much hype in their stock ' unlike MMR which I feel is well above worth. Diving back into MMR history... the company has done nothing but sideways and down paying managements salary, thats about all. They are only investment company really! I see other potential gains in further wells within Bounty's permits licences not just the PEP11. I'll call it my first million dollar stock, definatly feel on the up side. 'My thoughts only'!


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## Sean K (29 August 2009)

pcr_bull said:


> I'll call it my first million dollar stock, definatly feel on the up side. 'My thoughts only'!



Your first 'million dollar stock.' Nice work. You must own about 10m of them. Although that depends entirely on what price you bought in and what you think you will sell them for. Any hints? And why these prices?


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## pcr_bull (29 August 2009)

Kennas... I can only tell you about my experience with this stock 'BUY', I have followed and traded successfully over the past. As I indicated it is very subject to market releases and always takes a bullish run followed by a bear pull back when profit takers trade out. But unlike the past where I have taken profits... I am holding awaiting the outome of the Sydney Basin developments in PEP11 (as many others are) including other interests. If you research the data put out by Bounty on the 21 August 2009: “Presentation by Bounty Oil & Gas NL, CEO : Philip F Kelso – at the 20:20 Investor Series Energy Day Seminar" It will give you a break down of the expected Invested Interest Value upon a "successful well" for PEP11 and how they formulated the Enterprise Value.

Sorry, I might have been bit vague in saying 'my first million dollar stock' I have not sold, or traded out. As I said... knowing this stock, my trading history on it & researching the company "it is my personal belief that the expected value targets reported can be reached if not greater with the help of market psychology." I hope that clears that up! I am not a broker or huge researcher... just a simple trader. My only tip with this stock is: "one minute its the flavour of the week, next 2 months it is not", try not to run with the mob and buy too high limiting your profits, it does pull back when the taste goes off until the next market release. However, expect a few releases by MMR in relation to PEP11 which will move BUY north, if the drilling and well is successful then its happy days for me. I feel there will be some psychological resistance getting above .24 (short term) for a small company like Bounty... if it does break out it'll be purely on market updates followed by a pull back pending completion of PEP11 well. Happy trading


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## Bluebeard (3 September 2009)

What do people reckon of Wakefield prospect, its coming up in the next 2 or so weeks, will BUY go for another run in the lead up? Anyone want to put forward an opinion.


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## pcr_bull (8 September 2009)

Bluebeard... Humm, obviously if it is a positive report this month then I feel it could go for a little run. I would expect it to test the .19 cent mark but it will need to be a very good result, take into account it being September notorious for being a bad month. If it breaks that mark we could see some late buyers pushing it up thinking they have missed the boat. Be prepared for a pull back if it does surge..! This week I have already seen the price creep up with people slowly getting in ready for a positive report and not wanting to be sitting on the sidelines watching. Technically there is not much in it just a bit of guess work to pick it up as cheap as possible, fundamentally definatly on the upside from my research for the next 6mths. That also depends on if your a trader or investor, I hold a bit of both.

Hindsight is a great thing... but we can only make logical and rational decissions based on the fundamental and technical analysis infront of us. Happy trading


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## arian (9 September 2009)

The spud begins tomorrow at Wakefield prospect. Shock to see few sellers came in the last hour and pushed the share price down to .125. Will be very interesting day tomorrow. Just hoping for the day traders to come in like bunch of bulls gone MAD


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## pcr_bull (10 September 2009)

Arian, very true mate... I was watching it for the morning session, but I am not really phased about the buys/sells until they report some real activity results 'post spud'. I dont think just by reporting the spud today is enough for the bulls and sheep to flock just yet... might see a few trickle in moving the price. The market obviously feels that it is needing more facts and figures fundamentally. It will be great viewing though in this quater.


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## arian (11 September 2009)

Hi pcr

Abit disappointed that it couldn't close in green today. Alot of sellers hitting it hard. Yeh you are right about the news on spud aint gonna do much to share price. I guess people want the OIL success news then we will get some serious movement in sp. I seen how BUY moves with any good news.   We should get an update sometimes next week and the whole drilling takes about 12 days right? Fingers crossed and hope for the oil.


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## Putty7 (24 September 2009)

23-8-09 MMR - CORRECTION OF MEDIA REPORTS ON ADVENT ENERGY SITE SURVEY FOR DRILL TARGETS IN PEP11 OFFSHORE SYDNEY BASIN

MEC Resources (ASX: MMR) advises that media reports regarding the timing of a small-scale
geophysical site survey in PEP 11 as taking place between October 2009 and September 2010 are
inaccurate.
MMR’s investee Advent Energy (“Advent”) is progressing plans to drill in PEP 11, offshore Sydney
Basin, following the lodging of necessary applications for environmental approval.
Advent has made two separate submissions to the Department of Environment and Water,
Heritage and the Arts to carry out a small-scale geophysical site survey in PEP 11 and for approval
to drill one exploration well in the permit.
The survey will take place following the receipt of the required approvals.
The survey will cover two areas of 12 square kilometres each within the potential drilling area to
acquire further geophysical information for potential future exploration drilling. The timing of the
survey is dependent on vessel availability and will take place over about four days at each location.
Following the completion of the survey, the well would be drilled vertically to a depth of 2500m and
wireline logs will be run to determine the presence of any hydrocarbons, and is expected to take 30
days to drill.
Bounty Oil and Gas currently holds a 75% interest in PEP11. Advent Energy holds a 25% working
interest through its wholly owned subsidiary, Asset Energy, and has the right to earn an 85%
interest from Bounty Oil and Gas.


The recent media reports by MMR seems to have dropped the floor from under Bounty with shares being sold under the 10c mark, I do not hold any Bounty shares but am watching for an entry and hoping to see it slide back to around the 5c mark, maybe possible as Gold seems to be showing some interest again and punters may look to get into other shares and get back onto Bounty at a later date when drilling becomes closer, the recent holes they have announced etc dont seem to be helping hold the price, another MMR announcement today...


PEP 11 Offshore Sydney Basin – Update and Direct Hydrocarbon Indicators
MEC Resources (ASX:MMR) is pleased to provide an update to the market on progress to a drill
test of PEP 11 offshore Sydney Basin.
MEC advises that investee company Advent Energy Ltd (“Advent”) :
• is currently in advanced negotiations to secure a drilling rig and has lodged
environmental applications for drilling in preparation for a drill test which is expected
for the first half of the calendar year 2010; and
• has received a report from the Commonwealth Scientific and Industrial Research
Organisation (“CSIRO”) which provides independent reporting of direct hydrocarbon
indicators showing on seismic data in PEP 11;
• The report which details amplitude versus offset (AVO) processing and review of
seismic data acquired in 2004 reports the apparent presence of direct hydrocarbon
indicators (DHI) on seismic lines;
• The DHI have initially been observed on seismic line B4-15 along the main
structural trend and are adjacent to the previously identified Baleen Prospect. They
include high amplitude bright spot reflections, attenuation of high frequencies in
instantaneous frequency plots, and bright spot features in Root Mean Squared
amplitude plots.
These anomalous features are considered prime indicators for the occurrence of hydrocarbons and
Advent believes that these DHI are highly encouraging for the prospectivity of PEP11 in the
offshore Sydney Basin.
A detailed review of the CSIRO report is currently being compiled.


As I said I dont hold but have been watching with Interest to an entry point, anyones thoughts on this would be appreciated.


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## Donga (22 October 2009)

Apologies Putty 7 and others for the length of post which I've also posted on MMR thread– don’t intend to go into this detail again. Will try summarise the case for PEP 11 with particular regard for MMR objectively, and as always pls DYOR. I hold both MMR and BUY.

The MMR board – critical factor for long term investments and don’t expect day traders will be too influential as the stock is tightly held see below. I provide snapshots of two members and suggest punters refer to MEC Resources website for more details on the others.

Chairman Goh Hock was President of Schlumberger Asia - managed their Asian operations including oil field services, outsourcing, financial software and smartcards. Hock was responsible for US$800 million in revenue and more than 2,000 employees spread across 17 countries. In his 25 year career with Schlumberger, Hock held several other field and management responsibilities in the oil and gas industry spanning more than ten countries in Asia, the Middle East and Europe. Hock started as an oil field service engineer in Indonesia in 1980 before moving to Australia where he worked on the rigs in Roma, Bass Strait in and the Northwest Shelf.

Some brief facts on Schlumberger: FY 08 $27.16 billion operating revenue; 79,000 employees of 140 nationalities, operating in approximately 80 countries.

Mr Ding Guiming - Chairman of Advisory Panel was former Head of Exploration for the China National Petroleum Company (CNPC), directed the exploration activity of more than 20 oilfields all over China. CNPC recently announced $US 86 billion revenue. Was President of the Daqing Oilfield, one of the largest and enterprises in China and has 34 years of extensive successful oilfield experience.

Tightly held - According to Commsec MMR market cap today is $47m comprising of 108m shares (not inc options) and the top 20 shareholders account for 40% (MMR latest annual report).

History of PEP 11 – so much material available so pls DYOR however suffice to say there has been lots of research done on the permit area over 20 years from the likes of Ampolex, Santos, CSIRO amongst others. A good place to get a snapshot is presentation released today, see http://www.mecresources.com.au/newsroom/announcements.html and click on Advent Eco presentation. Other Advent presentations earlier this year have much more detail.

Recent progress – number of important milestones:
o May, tender cycle for drilling rig suppliers commenced
o August, Pareto Securities (Oil/gas expertise, Oslo) was engaged as lead broker to source Advent’s capital needs
o Capital raising conducted in September to raise funds for initial PEP 11 expenditure
o Today announced that Dept of Environment approved next step being site survey

Upcoming announcements – broad dates per releases and enquiries
o Recent CSIRO report has been received and awaiting CSIRO approval before summary highlights are released, likely in next week or so.
o Awaiting approval for initial drilling approval. Application was lodged 21 September, see below, Dept Environment questions been answered and now await decision.
o Final negotiations with rig suppliers underway pending Dept Environment approval

So expect there will be some activity offshore NSW coastline in the next month or so hopefully including first drill rig, if not early 2010. So what are the challenges?

Environment – The recent applications can be read see http://www.environment.gov.au/cgi-bin/epbc/epbc_ap.pl?name=current_referral_detail&proposal_id=5093 re site survey and http://www.environment.gov.au/cgi-bin/epbc/epbc_ap.pl?name=current_referral_detail&proposal_id=5094 re drilling and are very compelling, especially if you consider the need to reduce dependence on coal energy. They also address the environmental considerations, e.g. every species of fish, bird, shark, dolphin etc in the permit area.

Economic – No brainer if proved commercially viable and expect both state and federal governments will be supportive.

Finding the stuff and viability – Who knows whether the supposed resources will be retrievable commercially? But we’re going to find out and in the meantime there will be a lot media coverage and interest in this project. By the time we find out, present holders will have sold along the way and hopefully free carried.

The biggest carrot – Note MMR has pdf status which means that capital gains and hopefully dividends are tax free. Not only very attractive but some indication of the strategic value placed on the project by the government.

The operating structure is fairly complex, but suffice to say MMR is majority shareholder of Advent, see today’s preso for breakdown and Advent will increase interest in PEP 11 to 85% once they drill the first well, while Bounty Oil BUY will have 15% interest.

Today’s Advent presentation also mentions a couple of other permits which are fairly promising, and I copy post on HC today from Jazzasax “noticed Exoma Energy EXE have asked for a trading halt... have the 100% working interest on Perth Basin. "EP 419 covers 559km² on the north eastern side of the Perth Basin about 10km east of the Beharra Springs Gas Field. Advent has retained a 3% royalty on future profitable production from EP 419."

Conclusion – Who knows where this will lead, but it is a wonderful project with the potential to participate in the development of an East Coast energy megastar.

Pls do not rely on above and DYOR. Best wishes to all current holders of MMR, BUY, GBA & BPH (last two also have interests in Advent).


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## Jay-684 (23 November 2009)

All,

fyi great presentation released today regarding BUYs current prospects and projections/objectives for 2010.

Definately looks like they will be having a very busy year with plenty planned.

Some of the EV figures are very encouraging, especially PEP11.

Up today to 10c based on this release.

I'm still holding


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## Airfireman (24 November 2009)

Thats great news Jay,,,i was not sure whether to hold or sell recently...maybe i will keep a little longer 

Cheers

Tim


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## maala (7 January 2010)

It's nice to see Buy shake off the Christmas doldrums. The news from Utopia 7 and 8 are encouraging. I'm looking forward to the year ahead and hoping that PEP11 delivers.

Good luck to all holders


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## danbradster (26 January 2010)

maala said:


> It's nice to see Buy shake off the Christmas doldrums. The news from Utopia 7 and 8 are encouraging. I'm looking forward to the year ahead and hoping that PEP11 delivers.
> 
> Good luck to all holders




I'm sure everyone hopes PEP11 delivers.  

So Bounty will start turning a profit from 2010 onwards thanks to Utopia?  I like the sound of that.


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## Riddick (12 March 2010)

Wow, not a peep on this thread for a long time considering the interest in BUY on the market in general, the positive results and the promise of an announcement on PEP 11 on or around the 19th (next friday)

highlights like:

- greater than expected revenue from current projects and prospects for greater than expected output in the next quarter.

- BUY being free carried into the first stage of the PEP 11 project by Advent.

- expectation of the positive announcement in the next week.


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## Donga (13 March 2010)

Riddick said:


> Wow, not a peep on this thread for a long time considering the interest in BUY on the market in general, the positive results and the promise of an announcement on PEP 11 on or around the 19th (next friday)
> 
> highlights like:
> 
> ...




Expect some early birds will hop onto PEP 11 this week in anticipation. Am big on MMR/MMRO/BPH and out on a limb with BPHO as these could rocket with the right announcements, even though they expire in May. 

Exciting days and weeks ahead  IMHO


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## Riddick (13 March 2010)

Donga said:


> Expect some early birds will hop onto PEP 11 this week in anticipation. Am big on MMR/MMRO/BPH and out on a limb with BPHO as these could rocket with the right announcements, even though they expire in May.
> 
> Exciting days and weeks ahead  IMHO




I agree - definitely exciting weeks ahead. The Sydney basin could be the biggest thing this year. MMR is a good position IMHO with plenty of upside if PEP should come off. Given the amount of data on hand and amount of hydrocarbons inshore, not to mention the logged and known seeps to date a positive ann. would be expected. The fact BUY actually nominated a time they were going to announce means they may already have a substantial bit of news to share IMHO. Maybe secured more drilling hardware, spud announcement etc?

either way, you would expect at least a rise into the 9's in anticipation?

holding in expectation.


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## Donga (13 March 2010)

Riddick said:


> I agree - definitely exciting weeks ahead. The Sydney basin could be the biggest thing this year. MMR is a good position IMHO with plenty of upside if PEP should come off. Given the amount of data on hand and amount of hydrocarbons inshore, not to mention the logged and known seeps to date a positive ann. would be expected. The fact BUY actually nominated a time they were going to announce means they may already have a substantial bit of news to share IMHO. Maybe secured more drilling hardware, spud announcement etc?
> 
> either way, you would expect at least a rise into the 9's in anticipation?
> 
> holding in expectation.




Cap Raising manager for BPH sent me message early March advising good progress and likelihood of a fresh series of annoucements within six weeks being:

o drill rig details
o Environment approval
o possible farm in j/v partner - would be a rocket for SP for associated PEP 11 companies

The BUY para re news by 19 March could take us to the salad days of Aug 2009, at least that's what I'm banking on


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## Riddick (15 March 2010)

Donga said:


> Cap Raising manager for BPH sent me message early March advising good progress and likelihood of a fresh series of annoucements within six weeks being:
> 
> o drill rig details
> o Environment approval
> ...




Price on the move today with good volumes. Lot of people adding to/taking a position close to a designated announcement date. I guess the bulk of those people are expecting a positive announcement with, like you said, more to follow.

Drilling rig or announcement of similar scale would seem logical. geez a JV partner would be ok toothough, especially with an accompanying timeline etc.

Donga you should also be applauded for your spotting of MMR a while a go. you called it early and if anyting comes of PEP 11 then we should buy you a trophy.


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## Trembling Hand (15 March 2010)

Riddick said:


> Price on the move today with good volumes. Lot of people adding to/taking a position close to a designated announcement date. I guess the bulk of those people are expecting a positive announcement with, like you said, more to follow.




Huh?? How does that work? For every buy there is a sell. So there is just as many thinking the opposite.

Always like when people comment on high volume and add their own bias to make reason from it.

Here is something to think about. Retailers will always provide volume on an up day. The question is who is in a position to supply the other side of these transactions???


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## Riddick (15 March 2010)

Trembling Hand said:


> Huh?? How does that work? For every buy there is a sell. So there is just as many thinking the opposite.
> 
> Always like when people comment on high volume and add their own bias to make reason from it.
> 
> Here is something to think about. Retailers will always provide volume on an up day. The question is who is in a position to supply the other side of these transactions???




As you know, no doubt, for as many people as there are in the 'market' there are ideas and strategies on how they can best make money. (or are you saying that your way is the only way?) If you bought BUY at 1c for instance you may not think any upcoming announcements will significantly affect the price so you sell the make good profits. if you are short term, you ride the hysteria upto and including annoucement day then off load in a falling market to book your profit and look elsewhere for opportunity. I need not go on as I am sure you had this information in your mind when you posted this and wanted to just goad a response.

If you are BESBS then that is what you do. I have had a run in with you before and IMHO you seem to believe you know all. I should have remembered that. I guess i am just classified as one of your 'people who comment on high volume'.

Do you think that you are the only one who understands that for every buyer there is a seller? 

Do you believe that you in some way, being completely special, are totally without bias in any of your decision making? notwithstanding that if you utilise any indicators when making investment decisions you are employing bias.

Do you believe that your "people" do not understand the market forces of supply and demand dictate price movement and volume?

Do you believe that in order to make a comment on a forum the rules should be that you have to reference pages of accepted trading manuals/rulebooks/texts/journals and so forth so that the reasoning behind the comment can become explicit without the need to explain the rationale behind why an increase in volume is important and or positive to a trading position or strategy at any given time.

Or maybe everyone on ASF can pass by your throne on the way to the internet machine so that thou shalt be able to weed out the posts that you think are unneccessary, not descriptive enough or incorrectly referenced to aforementioned collections of scholarly knowledge?

or are you just having a go, whilst at the same time contributing absolutley nothing of interest?

horses are ultimately just dog food. even high ones.


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## Trembling Hand (15 March 2010)

Since you haven't commented on my point I will use your words for the reply. Just changed ever so slightly, still as factual as your first post I commented on, yet can make a big difference.



> Price on the move today with good volumes. Lot of people getting OUT  close to a designated announcement date. I guess the bulk of those people are expecting a negative announcement with, like you said, more to follow.




Maybe there would be no " run in " if you commented on the points rather than getting your fragile ego pricked and going off on a personal attack.


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## Riddick (15 March 2010)

Trembling Hand said:


> Since you haven't commented on my point I will use your words for the reply. Just changed ever so slightly, still as factual as your first post I commented on, yet can make a big difference.
> 
> 
> 
> Maybe there would be no " run in " if you commented on the points rather than getting your fragile ego pricked and going off on a personal attack.




1. i don't have a fragile ego - I have 300 lakeside acres in victoria with a private jetty. I can PM you some pictures if you like.

2. If you took it as a personal attack then that's your business. My queeries were framed as questions or statement of opinion.

3. To answer your question. You would know, as an active trader yourself with 30 years experience (or thereabouts) that price and volume are acceptable trend indicators and the relationship of volume to price dictates the sentiment of the market at anygiven time. So: with more buyers willing to pay more for an item, the price pressure tends to be up. conversely if more people want to dump an item, they are commonly willing to do anything to do that in order to preserve capital and or profits. as a result they make a sell at whatever is available. this tends to push prices down. I know you are well versed on the language of indicators so I don't need to expand.

so, if there is increased volume on rising prices, the logical conclusion is that more people are willing to assume that the upcoming news is positive and are willing to pay what sellers want in order to make this happen. once again, it is a sellers market and sellers sell for a myriad of reasons. only trends can be interpreted. so rising prices on increasing volume is an indicator of positive sentiment and by that rationale the possibility of a positive trend cycle.


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## Trembling Hand (15 March 2010)

Riddick said:


> 1. i don't have a fragile ego - I have 300 lakeside acres in victoria with a private jetty. I can PM you some pictures if you like.



lol!! if that comment aint confirmation I don't know how more perfectly you could answered it for me. but anyway,



> so, if there is increased volume on rising prices, the logical conclusion is that more people are willing to assume that the upcoming news is positive and are willing to pay what sellers want in order to make this happen.




And thats the bit thats ignores logic. Who can *provide *volume? Insiders, smart money who are in a position of strength as they accumulate lower OR trapped punters who want out as they are losing because they got in higher. 

The latter of the above group I would always bet against the other is painful to bet against.

Having a look through any of these much loved species on ASF and you can see that high volume makes tops. With that said looking at the volume as we come to a close its not what I would call high yet. Will be a good one to watch for the next couple of weeks to see how it plays out.


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## Donga (16 March 2010)

Trembling Hand said:


> Will be a good one to watch for the next couple of weeks to see how it plays out.




Cool it guys, good times ahead IMHO and a few reasons:

1. Advent Feb 1 update has the dots
2. Time passes
3. From my post above: Cap Raising manager sent message early March advising good progress and likelihood of a fresh series of announcements within six weeks being:

o drill rig details
o Environment approval
o possible farm in j/v partner - would be a rocket for associated PEP 11 companies 

4. Then BUY para re news by 19 March 

5. Todays volume (and buy side) in MMR the heaviest since last October would indicate something is a foot.

Perhaps drill rig employees taking a punt or just idle speculation leading up to March 19. Either way, PEP 11 is looking good again and advise close scrutiny of BPH and BPHO as well, given their 19.4% entitlement of Advent. At .004 and 20c exercise price, BPHO could race up despite May expiry. Plenty of time if we receive two or three of the anns mentioned above by mid April.


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## DJG (1 April 2010)

*BUY/MMR deal: Who owns more %?*

The big BUY & MMR deal:

Interest:  Bounty 75%, MEC Resources Ltd (through Advetn Energy Pty Ltd.) 25% - earning an additional 55% by funding one well

I found on Bounty's site,

So, clear this up for me, does MEC or bounty own more?
Will it there for, mean MEC or BUY go up on the big announcement day, or can't you really tell?


Thanks


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## Donga (11 April 2010)

*Re: BUY/MMR deal: Who owns more %?*



DJG said:


> The big BUY & MMR deal:
> 
> Interest: Bounty 75%, MEC Resources (through Advent Energy Pty Ltd.) 25% - earning an additional 55% by funding one well, I found on Bounty's site.
> 
> ...




DJG - MEC (MMR) have more exposure to PEP 11 while Bounty (BUY) have other prospects (as does MMR). You should look closely at pdf status enjoyed by MMR which means tax free gains for investors. Another tasty dynamic is BPHO high risk/possible high reward, expire end of May with 20c exercise price. BPH has about same interest in PEP11 as BUY. Suggest you visit MEC Resources and BPH websites and read through last 9 months announcements.

We've just had some minor updates and expect more during next few weeks: 

o update on PEP 11 site survey which commences next week    
o drill rig details of when/where/cost and objectives - this should move SP 
o environment approval for dril rig - hopefully by early May

You might also look at how the stocks moved in Aug/Sept last year to get an idea of how tightly held they are and likely impact of next few announcements. 

Expect PEP 11 to grab a lot of media attention in back end of April and May.


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## Apples (16 April 2010)

Interesting to note that MMR and BPH are in halt pending an announcement on a drill rig at PEP11 but BUY is still trading.


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## happytown (7 June 2010)

Channel 9 news (Sydney) look like they will be running a story this evening on PEP11 - how Sydney may be able to supply its gas needs from directly off-shore and is it safe to drill off-shore


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## happytown (3 November 2010)

story in the economic times (indian newspaper) that ONGC is in formal discussions for a 25% stake in advent for $1B has been dismissed as incorrect


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## happytown (15 November 2010)

and regulatory approval from nsw dept industry and investment for drilling at pep11 granted for the seaclem1 well


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## Slipperz (29 December 2010)

Amazing. Shares in a trading halt all day to announce a duster after market WTH?

Tomorrow BUY and MMR are going to go the way of NDO and KIK today.

Look out below!!!!!!!!!!!!!!!!


:ald:


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## Miner (30 December 2010)

Slipperz said:


> Amazing. Shares in a trading halt all day to announce a duster after market WTH?
> 
> Tomorrow BUY and MMR are going to go the way of NDO and KIK today.
> 
> ...




You are right.
My guess BUY will be punished more heavily than MMR.
BUY  only had a recent  rights issue 1 : 10 with 10 cents .


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## happytown (30 December 2010)

Slipperz said:


> Amazing. Shares in a trading halt all day to announce a duster after market WTH?
> 
> ...




decidedly questionable behaviour by buy and its pep11 cohorts (or at least the potential for the appearance of it)

as slipperz mentions after market ann on seaclem1 duster

then an ann this morning (8.23am) about 40m intersection of sandstone with 30% porosity (yet no hydrocarbons) in a possible attempt to gild the lily

pre-open this am was looking like a bloodbath (between 40-65% smackdown across the 4 co's involved) and then ... nothing, still in a trading halt

shortly afterwards this became suspension pending a further ann re seaclem 1

all price sensitive info appears to have been released over yesterday and today's anns

so what further price sensitive info is to be released?

a call to the co's head office is met with "this office will be closed till 4th jan"

this is unacceptable - if the co can request a suspension, they can man up and answer shareholders inquiries (as seaclem1 was a potential co maker, it is indefensible to have the office completely closed, irrespective of christmas and new year) - as mentioned before if you can request a suspension you can answer shareholder phone calls

is the suspension an attempt to delay the inevitable?

man up and let the market pass judgment buy bph mmr gba

on a side note, unlike gba, mmr, bph, currently buy is a producer through the utopia field, albeit at 3 cups, 2 thimbles and a partridge in a pear tree per day

[on a positive note, if they remain in suspension till jan, will be saved the ignominy of coming first in the monthly stock tip - at the non-business end]


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## Slipperz (4 January 2011)

Unsurprisingly the race to the bottom continues apace. Commiserations to holders.

There might be hope there in a second drill but that's gonna take more capital.

Risky business....


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## mobcat (14 June 2013)

*BUY*

She hit 1.1 today and bounced back seems cheap any thoughts.


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## frugal.rock (10 September 2020)

One of the dustier threads revived....
6 month chart. Haven't checked the FA. 
DYOR. Not held.


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## mobcat (23 November 2020)

In the depth for 1.5m @ 0.01 have got 1m lots at 0.012 and 0.011 so pretty happy buying back in now my average sell was at 2.2 so it’s nice to be getting back in the paddock of BUY at these levels 😀


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## mobcat (26 November 2020)

Got my fill at 0.011 happy with that time to sit and watch my 5 million little eggs hatch bring on the road forward with pep11 and what ever Kelso wants to do with the recent million plus raise he cashed up with, exciting times ahead for bounty December could tell a real story $$$$


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## mobcat (18 December 2020)

Seems to be on its March north now BUY steady at 1.4 atm just waiting for it to exlplode now With the buy depth below market price building by the day , like I said earlier very good December coming up GLTAH 😀


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## mobcat (31 January 2021)

Very Happy with this action of late BUY has been a 6 bagger thus far for me, and it’s got a lot left in her tank over the coming weeks


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## mobcat (1 November 2022)

I’m back on BUY it’s up for a massive run check out it’s annual report and quarterly so undervalued for upcoming plans.


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