rub92me
Don't look back
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Well, it's getting close to that now, so time to look for that chequebook Lachlan
I'm not selling just yet, so you'll have to find someone else to take them from.
BNL - Blue Star Helium
- Thread starter yogi-in-oz
- Start date
I'm not selling just yet, so you'll have to find someone else to take them from.
rub92me
Don't look back
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No longer hold this; why do you ask for a recommendation after you made the decision to buy Surely you must have had a reason to buy in in the first place? What has happened is that they don't appear to deliver on their plans. The sp has been trending down for 2 months. Good luck.
Surely you must have had a reason to buy in in the first place? What has happened is that they don't appear to deliver on their plans. The sp has been trending down for 2 months. Good luck.- Joined
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Hard to recommend this one at the moment as they seem to continually disappoint. I fortunately busted out at 96.5c just before it took this big huge plunge.
Re-entry for me would be below 40c which doesn't seem unlikely at the moment.
Re-entry for me would be below 40c which doesn't seem unlikely at the moment.
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I have re-entered AZZ. They have had an unfortunate run with the seasonal inclement weather (now past) and the NT results and now the US market...AZZ have fallen almost 60% which seems overkill considering they are self-funded from cash in bank and from producing wells they have....
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They have a little bit of debt:
10,561,235 $2.00 convertible debt securities.
Still have to pay the coupon on these until the noted is converted to shares or repaid in full $.
10,561,235 $2.00 convertible debt securities.
Still have to pay the coupon on these until the noted is converted to shares or repaid in full $.
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i see that now surfing man. does the 'fully paid' mean they have been fully paid??? if not do they have an expiry or something when they will have to be paid? Is this somehow similar to options?
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I agree that they have been disappointing, however i beleive that with the 60% SP drop we now see and the amount of current projects still on their books that the reward is now starting to outway the risk...the SP may still fall and i still have orders in at lower than what i bought at today...
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ASX/NEWS RELEASE 21 August 2007
TURNKEY DRILLING CONTRACT SIGNED
JEAN H. FREEBORN-1 WELL
ROWENA WILCOX PROSPECT - SHAEFFER RANCH
Key Points
The operator of the Shaeffer Ranch project, San Isidro Development, has entered into a turnkey
drilling contract for the first well on the Rowena Wilcox prospect in Jim Wells County, Texas.
The name of the well is Jean H. Freeborn -1. Orion Drilling Company has committed to drilling
the 16,000 foot well on a turnkey basis for a fixed cost. The current plan is use the same rig
that is drilling the Outlar-1 well in which Antares has a 30% working interest (West Wharton).
The rig would move directly to the Jean H. Freeborn-1 well after completing the Outlar-1 well.
Antares has a 50% working interest in this project as does San Isidro Development. The Rowena
prospect is a massive 13,000 acre closure approximately 15 kilometres from the 200+ BCF
Hostetter Field. Potential reserves for this feature exceed 200 BCF on a P50 basis. If successful
this project has the potential for large number of follow up wells.
Antares’ minimum financial commitment is anticipated to be approximately USD 2,750,000 dry
hole cost. Several US companies are currently reviewing the prospect and Antares may farm
down its working interest to 40% if favourable terms can be negotiated.
Background
The main objective of the large seismic acquisition program recently acquired over Shaeffer
Ranch was to confirm the presence of a large un-drilled four way structural closure at the
Eocene upper Wilcox level. This structure had originally been identified from old 2D seismic
lines. This prospect is in a very attractive hydrocarbon fairway within close proximity to several
large producing gas fields.
The 3D mapping confirmed the Rowena feature to be a significant and robust structural high
with possible upside ranging from over 200 BCF (P50) depending on sand thickness
encountered. There is geological uncertainty in sand distribution due to the lack of nearby well
control however this prospect is within 11 miles of the successful Hostetter field that has original
reserves in the order of 100+ BCF. Initial production from some wells on the Hostetter field is
reported to be 16 million cubic feet per day (MMcf/d). There is in excess of 15 producing wells
on the field. In addition, Chevron has reported initial production from a nearby well of 17
MMcf/d from the Wilcox. There are other upper and middle Wilcox fields in the area that are
of a similar structural style (see map below).
From a seismic perspective the section that contains the gas in the Hostetter field is very similar
in character to the interval seen in the Rowena prospect. The Hostetter field produces from a
number of intervals to depths greater than 15,500 feet.
ANTARES
ENERGY A.C.N. 009 230 835
Page 2 of 2
Mr. Howard McLaughlin, Managing Director of Antares Energy Limited said:
“This is an enormous un-drilled structure in one of the most prolific hydrocarbon fairways in
Texas. We are very pleased to have a turnkey drilling contract as it removes great uncertainty
in cost exposure. A successful well at Rowena will add significant value to Antares Energy
through reserves and production.”
TURNKEY DRILLING CONTRACT SIGNED
JEAN H. FREEBORN-1 WELL
ROWENA WILCOX PROSPECT - SHAEFFER RANCH
Key Points
The operator of the Shaeffer Ranch project, San Isidro Development, has entered into a turnkey
drilling contract for the first well on the Rowena Wilcox prospect in Jim Wells County, Texas.
The name of the well is Jean H. Freeborn -1. Orion Drilling Company has committed to drilling
the 16,000 foot well on a turnkey basis for a fixed cost. The current plan is use the same rig
that is drilling the Outlar-1 well in which Antares has a 30% working interest (West Wharton).
The rig would move directly to the Jean H. Freeborn-1 well after completing the Outlar-1 well.
Antares has a 50% working interest in this project as does San Isidro Development. The Rowena
prospect is a massive 13,000 acre closure approximately 15 kilometres from the 200+ BCF
Hostetter Field. Potential reserves for this feature exceed 200 BCF on a P50 basis. If successful
this project has the potential for large number of follow up wells.
Antares’ minimum financial commitment is anticipated to be approximately USD 2,750,000 dry
hole cost. Several US companies are currently reviewing the prospect and Antares may farm
down its working interest to 40% if favourable terms can be negotiated.
Background
The main objective of the large seismic acquisition program recently acquired over Shaeffer
Ranch was to confirm the presence of a large un-drilled four way structural closure at the
Eocene upper Wilcox level. This structure had originally been identified from old 2D seismic
lines. This prospect is in a very attractive hydrocarbon fairway within close proximity to several
large producing gas fields.
The 3D mapping confirmed the Rowena feature to be a significant and robust structural high
with possible upside ranging from over 200 BCF (P50) depending on sand thickness
encountered. There is geological uncertainty in sand distribution due to the lack of nearby well
control however this prospect is within 11 miles of the successful Hostetter field that has original
reserves in the order of 100+ BCF. Initial production from some wells on the Hostetter field is
reported to be 16 million cubic feet per day (MMcf/d). There is in excess of 15 producing wells
on the field. In addition, Chevron has reported initial production from a nearby well of 17
MMcf/d from the Wilcox. There are other upper and middle Wilcox fields in the area that are
of a similar structural style (see map below).
From a seismic perspective the section that contains the gas in the Hostetter field is very similar
in character to the interval seen in the Rowena prospect. The Hostetter field produces from a
number of intervals to depths greater than 15,500 feet.
ANTARES
ENERGY A.C.N. 009 230 835
Page 2 of 2
Mr. Howard McLaughlin, Managing Director of Antares Energy Limited said:
“This is an enormous un-drilled structure in one of the most prolific hydrocarbon fairways in
Texas. We are very pleased to have a turnkey drilling contract as it removes great uncertainty
in cost exposure. A successful well at Rowena will add significant value to Antares Energy
through reserves and production.”
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on 21 June KeithNeilson at Insider recommended this http://www.theinsidetrader.com.au/niit.php?action=vtip&id=84
He picked it at 79 cents with his so called science which did not work,
Considering some of the facts remain. At 40 cents and less tomorrw it is speculative bargain.
The director bought 5000 convertible bonds only last week,
I have reproduced the text from Insider Forum
We first picked this stock in September 2006 when it was $0.405. This was due to an increase in buyer demand and a significant amount of director buying.
Since this the stock has risen to over $1.00. There has however been a recent retracement due to less than expected output but there appears to be support around the $0.80 price mark.
This retracement is possibly a good buying opportunity as the company is solid fundamentally and has some good exploration prospects.
Antares Energy aims to grow to become one of the top independent exploration and production companies in Australia, with a robust international portfolio of exploration and producing assets.
It has activities in the USA and Turkey.
Nielsen Indicator Buying Level
There has been an increase in buyer demand at this price level. Smart money is also evident.
Weekly Trend Analysis
Uptrend
Daily Trend Analysis
Uptrend
Short Term Support
$0.76
Short Term Resistance
$0.90
He picked it at 79 cents with his so called science which did not work,
Considering some of the facts remain. At 40 cents and less tomorrw it is speculative bargain.
The director bought 5000 convertible bonds only last week,
I have reproduced the text from Insider Forum
We first picked this stock in September 2006 when it was $0.405. This was due to an increase in buyer demand and a significant amount of director buying.
Since this the stock has risen to over $1.00. There has however been a recent retracement due to less than expected output but there appears to be support around the $0.80 price mark.
This retracement is possibly a good buying opportunity as the company is solid fundamentally and has some good exploration prospects.
Antares Energy aims to grow to become one of the top independent exploration and production companies in Australia, with a robust international portfolio of exploration and producing assets.
It has activities in the USA and Turkey.
Nielsen Indicator Buying Level
There has been an increase in buyer demand at this price level. Smart money is also evident.
Weekly Trend Analysis
Uptrend
Daily Trend Analysis
Uptrend
Short Term Support
$0.76
Short Term Resistance
$0.90
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AZZ - Antares Energy NL
Hi,
I spend a bit of time prowling the deeps looking for opportortunities that seem to be trading at odds to where they should be. I draw your attention to AZZ which has a current valuation of 73 cents on it by Wilsons (date 19th Oct 07) but has pulled back (it appears due to a single large over keen seller) to 47. Now where it gets interesting is that AZZ will be perferating the casing of a well known as JF-1 in Texas located on a very large onshore 200BCF closure (we talking gas here). The signs while drilling were very good: ie good sands encountered, good gas shows, good gas pressure and in a good neighbourhood. Now Wilsons value this field at $1.54 if it proves up. You can see the upside here. Before the mystery selling started (and appears over) the stock was 61 and looking angry.
I'll bring more opporunities like this to the forum but I think there is very short term upside here. By the way they perforate just after the US Thanksgiving holiday break.
GoodValueHunter
Hi,
I spend a bit of time prowling the deeps looking for opportortunities that seem to be trading at odds to where they should be. I draw your attention to AZZ which has a current valuation of 73 cents on it by Wilsons (date 19th Oct 07) but has pulled back (it appears due to a single large over keen seller) to 47. Now where it gets interesting is that AZZ will be perferating the casing of a well known as JF-1 in Texas located on a very large onshore 200BCF closure (we talking gas here). The signs while drilling were very good: ie good sands encountered, good gas shows, good gas pressure and in a good neighbourhood. Now Wilsons value this field at $1.54 if it proves up. You can see the upside here. Before the mystery selling started (and appears over) the stock was 61 and looking angry.
I'll bring more opporunities like this to the forum but I think there is very short term upside here. By the way they perforate just after the US Thanksgiving holiday break.
GoodValueHunter
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Hi folks,
AZZ ... expecting a big sell-off, later this month
and into January 2008 ... but, looking further ahead,
AZZ should be BOOMING in February 2009 .....
have a great weekend
paul
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Once again Keith Neilson has said "there is an expected drilling result". Recommended AZZ as buy. His comments were if the drilling result is good then the share will go up massively.
Now I am getting supicious and like Deal or No deal I am discounting Keith's value of prediction. I think he is just punting. ANy one can say that if the drilling result is good then the price will go up. Sorry Keith - you are great but now got too much exposed with your punter skills.
Further Huntley has stopped covering AZZ as the management is too lazy.
Reading between the lines and other posting probably AZZ will be extremely high risk investment and not worth compared to much better values in investing in CVN or SUR.
I am not an expert at all and only collecting my wisdom from you all and reading other columns and stock market reports.
Regards
Now I am getting supicious and like Deal or No deal I am discounting Keith's value of prediction. I think he is just punting. ANy one can say that if the drilling result is good then the price will go up. Sorry Keith - you are great but now got too much exposed with your punter skills.
Further Huntley has stopped covering AZZ as the management is too lazy.
Reading between the lines and other posting probably AZZ will be extremely high risk investment and not worth compared to much better values in investing in CVN or SUR.
I am not an expert at all and only collecting my wisdom from you all and reading other columns and stock market reports.
Regards
rub92me
Don't look back
- Joined
- 24 April 2006
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- 6
I took a small position at the close today. It is getting close to fracture stimulation and testing for the Rowena Wilcox prospect. What has encouraged me is that this is taking longer than initially thought. This could be an indication that they are dealing with a large field. (The bigger the field, the longer it takes for the pressure to build up.) Of course it could also mean that they're lazy and incompetent. : Oh well, nothing ventured, nothing gained. If it falls below 0.35 I'm out.
: Oh well, nothing ventured, nothing gained. If it falls below 0.35 I'm out.- Joined
- 5 June 2007
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Hi folks,
AZZ ..... it would not be surprising to see some positive news
from AZZ, with 2 positive cycles between 15-25022008,
then a difficult cycle, around 27-2802008.
have a great day
paul
=====
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I took a small position at the close today. It is getting close to fracture stimulation and testing for the Rowena Wilcox prospect. What has encouraged me is that this is taking longer than initially thought. This could be an indication that they are dealing with a large field. (The bigger the field, the longer it takes for the pressure to build up.) Of course it could also mean that they're lazy and incompetent.
Hey Rub, did you follow your trading plan and get out? Can't believe the price of this today. For a stock that was hyped to be going to $2 a year ago - seems very disappointing. Been wondering whether to re-enter at low 20's level - surely it is going to have a decent oil/gas hit somewhere sometime somehow......?
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yeah i hadnt checked AZZ SP for some time and am also shocked at their SP...I hold a miniscule parcel....I think they will be regretting getting out of Turkey at this point...The over $1 SP prediction was from one of the directors I think...shame...the company has a lot of experience. I'd hate to guess how much cash they have burnt in texas from the sale of turkeys op's.
