BUY - Bounty Oil

[Airfireman]

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

Cheers

Tim

 

[maala]

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

 

[danbradster]

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.

 

[Riddick]

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.

 

[Donga]

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.

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

 

[Riddick]

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.

 

[Donga]

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

 

[Riddick]

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

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.

 

[Trembling Hand]

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???

 

[Riddick]

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.

 

[Trembling Hand]

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.

 

[Riddick]

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.

 

[Trembling Hand]

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.

 

[Donga]

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.

 

[DJG]

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

 

[Donga]

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

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.

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

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.

 

[Apples]

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

 

[happytown]

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

 

[happytown]

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

 

[happytown]

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