AUT - Aurora Oil and Gas

[nioka]

There doesn't appear to be a thread specefic to AUT. It gets plenty of mention associated with ADI through "Sugarloaf" but it does have other interests so I think it needs an identity of it's own.
The company has the same percentage share in sugarloaf as ADI with the sp usually at a discount and I have done OK switching back and forth between the two.
AUT is currently subject to a trading halt pending an announcement not associated with current activities. This could mean raising funds needed for the development of sugarloaf. This could mean a discounted rights issue or it may be a placement , discounted, to a financial institution.One could raise the price the other could lower it?
Which ever way it goes the long term future of AUT is tied to sugarloaf to a degree but they have another well Nth Bellridge getting close to it's target.

 

[stereo21]

There doesn't appear to be a thread specefic to AUT. It gets plenty of mention associated with ADI through "Sugarloaf" but it does have other interests so I think it needs an identity of it's own.
The company has the same percentage share in sugarloaf as ADI with the sp usually at a discount and I have done OK switching back and forth between the two.
AUT is currently subject to a trading halt pending an announcement not associated with current activities. This could mean raising funds needed for the development of sugarloaf. This could mean a discounted rights issue or it may be a placement , discounted, to a financial institution.One could raise the price the other could lower it?
Which ever way it goes the long term future of AUT is tied to sugarloaf to a degree but they have another well Nth Bellridge getting close to it's target.

This was from another site posted yesterday "just completed a capital raising @53cps".
IMO a placement makes sense as they need to raise money for SL.

 

[nioka]

This was from another site posted yesterday "just completed a capital raising @53cps".
IMO a placement makes sense as they need to raise money for SL.

That price is a good discount on the last sale at 60c. An offer to existing shareholders at that price would have been appreciated.

 

[nioka]

That price is a good discount on the last sale at 60c. An offer to existing shareholders at that price would have been appreciated.

Existing shareholders are also being offered up to $5000 in shares at the placement price. They have also announced 2 more oil and gas projects in Texas.

 

[nioka]

Good news from AUT regarding the drilling of High Island-1 well, offshore Texas Gulf. Strong gas shows in the target "6400ft" over 200ft. The economic significance of this will not be known until wireline logs are run at the total depth. The well is planned to have a total depth of 10,088ft.
AUT also announced that a work over rig has commenced operations on the North Bellridge 26-2H well to prepare the well for reservoir stimulation
The results from Sugarloaf will soon be out. Add this to the other 2 wells which appear to be possible producers and it should mean an interesting time for AUT

 

[nioka]

More good news from the High Island 1 well. Good gas shows again from 9651ft for 140ft. The well has reached total depth. Bad weather is holding up wire line logging.
There have been 2 good gas shows and indications of oil according to my interpretation of the report. And I believe the well will add considerably to the share value.
AUT has a 30% interest in Sugarloaf also and because it has not had the SP increase as has ADI there should be room for good gains on this one.

 

[Dukey]

Does look nice nioka.
... from what I've seen - AUT releases regarding Sugarloaf state they have a 20% interest. But its still plenty.

High Island looking good and completely ignored by the market???
Maybe everyones still hungover from New year or something.
Gotta think seriously about this one now!!! What to sell ...what to sell...

 

[nioka]

Does look nice nioka.
... from what I've seen - AUT releases regarding Sugarloaf state they have a 20% interest. But its still plenty.

High Island looking good and completely ignored by the market???
Maybe everyones still hungover from New year or something.
Gotta think seriously about this one now!!! What to sell ...what to sell...

Yes 20% in sugarloaf, Same as ADI. 30% in High Island.

 

[nioka]

AUT seems in a little trouble today. I had just written out a cheque for the issue at 53c when I looked at a detailed quote to see them selling at 53c.I put an order in for 10,000 at 51c thinking that was better than paying 53c for new shares. Didn't expect to get them but had them within minutes. They are now selling for less with almost no buyers. What,s happening here ,has Sugarloaf fizzed? The new issue looks to be in trouble.

 

[nioka]

AUT and ADI both on Preopen this morning ?????

 

[nioka]

AUT has had good results with the High Island well, located offshore Texas, and now says that it hopes to be in production late 07. The joint venture is currently evaluating opportunities to fast track devellopment. Plans currently under consideration would see the acquisition of an existing platform, drilling a second development well and starting production near the end of 07.
The expected production rate is expected to be in excess of 20 million cubic feet a day from the first 2 wells. The 3rd development well would be drilled and if successful would add to production.
Added to the probable successs of sugarloaf, High Island is icing on the cake and should make AUT a buy at the current discounted price.

 

[nioka]

Has AUT sold out High Island to GRL or has it traded it's interest in High Island for an interest in GRL and seats on the GRL board. GRL has gone into a trading halt today. AUT has an effective 28% interest in GRL at this stage so it will be interesting to see the reason for the trading halt and the benefits of the recent transfer of the High Island interests.

 

[nioka]

There are posts daily on the ADI thread in relation to the Sugarloaf well and the potential it has for the ADI SP. AUT has the same percentage interest in Sugarloaf yet it never seems to get a mention. In addition AUT is the major shareholder in GRL after trading it's interest in the successful High Island well for a major stake in GRL with 2 seats on the board including chairman. High Island is nearing production.
GRL now have purchased a working interest in the POMPANO gas field, also in the Gulf of Mexico. GRL have also announced a merger with Elixir Petroleum.
Updates on Sugarloaf are available on the ADI thread. There is much speculation regarding the Sugarloaf potential to dramatically increase the ADI SP. The same potential is there for AUT and AUT has a back up value in it's holdings in Gawler.
Over the past few months I have been able to trade ADI for AUT by selling 2 ADI and buying 3 AUT. At todays prices AUT has held up against ADI and they are now equal in price. I can see no reason to revert to ADI.
( I'm not always right.)

 

[sam76]

Aurora Oil and Gas Limited (AUT) is an oil and gas exploration and development company with the activities concentrated on the Gulf of Mexico coast region of the USA. The company was previously operating a formal menswear rental business but changed its principal activities in April 2005.


WTF????

 

[jtb]

Aurora Oil and Gas Limited (AUT) is an oil and gas exploration and development company with the activities concentrated on the Gulf of Mexico coast region of the USA. The company was previously operating a formal menswear rental business but changed its principal activities in April 2005.


WTF????

I think it was 'Tony Barlow' menswear wasn't it?.
So what do you reckon, you buying in

EXR or gawler may be a better bet

 

[nioka]

Aurora Oil and Gas Limited (AUT) is an oil and gas exploration and development company with the activities concentrated on the Gulf of Mexico coast region of the USA. The company was previously operating a formal menswear rental business but changed its principal activities in April 2005.


WTF????

Which one's the monkey? Oil and gas or mens wear. It makes no difference to me. They put their money in too and have a 20% interest in Sugarloaf plus other interests. I'm in deep ( deep for me anyway) and intend to stay until Sugarloaf is finished one way or another.

 

[nioka]

Finally some good news for AUT with the first positive information on Sugarloaf for some time now. Sugarloaf was originally described as Elephant territory and in may yet prove to be that way. Plans are now under way for the drilling of Sugarloaf 2. even before the testing of Sugarloaf is complete.
Aurora also announced that lease arrangements for the Longhorn and Ipenama project areas are essentially complete both these are in the Sugarloaf areas and that and that the Delores 1 well has commenced production.
The next few months should be interesting for shareholders as, in addition to Sugarloaf AUT's interest in Gawler should increase in value as the High Island venture nears production.

 

[nioka]

Aurora up 5c so far today on very small volume. This indicates to me that the holders of AUT are not desperate to get out. Having held through the testing times ( SP wise) it appears that current holders are now satisfied to wait to "cash in" after the drilling of Sugarloaf 2.
It has been afrustrating wait but it now looks as if is paying off.

 

[Agentm]

just curious about the trading halt??

has anyone heard anything about what they may be in a halt for..???

 

[nioka]

just curious about the trading halt??

has anyone heard anything about what they may be in a halt for..???

It's interesting. My guess is finance raising in some form. Only a guess but based on the facts that they have a lot of irons in the fire at the moment. Some of these will require a lot of funding.
Ipenama, Aurora can earn 80% by fundingleasing costs and the cost of the first well to production.
Longhorn, a 50% interest by funding leasing costs and the cost of the first well to production.
There is also West Black Lake which will commence production shortly and NorthBellridge and Flour Bluff.
On the strength of these facts I sold the last of my ADI and used the funds to get more AUT ( at 52c) following the announcement on26th June.
Go Sugarloaf and Ipenama and Longhorn will follow.
Just my guess. DYOR.