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You'll be in the queue come Monday morning mate.
AUT - Aurora Oil and Gas
- Thread starter nioka
- Start date
The market shuts 4pm for us mortals on Friday and re-opens monday 10am. We cannot trade ordinary stocks in between those times.
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ah ok thanks.. another question.. with the listing on the TSX. how does that work exactly? does the ASX have 50% of shares and the TSX have 50% of shares? or are they 100% liquid between the two markets?
i'm sure all the nooblets appreciate my questions
i'm sure all the nooblets appreciate my questions
ah ok thanks.. another question.. with the listing on the TSX. how does that work exactly? does the ASX have 50% of shares and the TSX have 50% of shares? or are they 100% liquid between the two markets?
i'm sure all the nooblets appreciate my questions
Hi Geelongfan, I'll have a go at explaining how I think it works:-
AUT has its aussie shares listed on the ASX.
It then issued additional shares @ $C1.60 and listed them on the TSX for our canadian investors.
A company is able to issue new shares whenever it needs to raise capital [ie capital raising or a SPP]
In effect what AUT has done is engaged in a capital raising for Canadian investors.
The 2 lots of shares on the ASX and TSX are mutually exclusive. We have ours and the Canadians have theirs. Our number of shares will not increase or decrease by what happens on the TXS and vice versa.
If a candian whats to buy AUT on the ASX he can but the shares stay here and if he wants to sell then he does so on the ASX. He cannot buy here and sell on TXS
I hope this helps.
All IMHO & DYOR and if anyone has a different view please post.
And finally, GO CATTERS
Hi Geelongfan, I'll have a go at explaining how I think it works:-
AUT has its aussie shares listed on the ASX.
It then issued additional shares @ $C1.60 and listed them on the TSX for our canadian investors.
A company is able to issue new shares whenever it needs to raise capital [ie capital raising or a SPP]
In effect what AUT has done is engaged in a capital raising for Canadian investors.
The 2 lots of shares on the ASX and TSX are mutually exclusive. We have ours and the Canadians have theirs. Our number of shares will not increase or decrease by what happens on the TXS and vice versa.
If a candian whats to buy AUT on the ASX he can but the shares stay here and if he wants to sell then he does so on the ASX. He cannot buy here and sell on TXS
I hope this helps.
All IMHO & DYOR and if anyone has a different view please post.
And finally, GO CATTERS
Good explanation.
However the bigger players who have transaction accounts on both the ASX and tSX, cna purchase shares here, then sell them in Canada and vice versa, as will the TSX listing promotor.
Whilst the price on the TSX will not always mimic the price on the ASX, they will be very close, as once they step out of sync enough to make a profit, the big players will move the shares from one registry to the other.
Even AUT itself will imo most likely dabble in cross border transactions when they see money sitting on the table.
A lot like what happns with BHP and RIO.
Hi Condog, thanks again.
I'm a bit troubled now .
What is stopping the bigger players who have transaction accounts on both the ASX and TSX and the TSX listing promotor from raiding the ASX and moving a substantial quantity of AUT shares off shore to the TSX?
You see, before you told me about this cross market trading, I saw the listing on the TSX as a good thing because it gives AUT greater exposure and greater access to funds. However now I'm wondering whether AUT is vulnerable to a T/O led by the Canadians? And also if the number of AUT shares on the ASX decreases substantially because the Canadians are buying up how will that impact on the price and liquidity of AUT on the ASX?
Your comments welcome. Thanks in anticipation
I'm guessing too, but I don't think that there are compartments for AUT shares.
GMP securities is the TSX market-maker. It will buy up shares offered by Canadian investors and will sell AUT shares to Canadian investors that wish to buy. It will end up the TSX session with a net long or short position.
It might carry that position until the next session or it might stand in the ASX market and square it off before the next TSX session. If it is short and has to deliver stock, it might 'borrow' stock from an institution.
But that is how the ASX market-makers will work.
If there is more than 1 market-maker for a stock they will square positions between them. In this case, the time zone difference will make things a bit more complicated especially when price sensitive news is released. There is no overlap when both markets are open.
Investors with two accounts, one through TSX and one through ASX, will/may have compartmentalised holdings because there will be different custodians holding the shares. I invest from the UK but the UK broker simply funnels the orders through an Australian firm and the shares are held by an Australian custodian. The UK broker doesn't have the shares. I don't have any direct dealings with the Australian firms.
GMP securities is the TSX market-maker. It will buy up shares offered by Canadian investors and will sell AUT shares to Canadian investors that wish to buy. It will end up the TSX session with a net long or short position.
It might carry that position until the next session or it might stand in the ASX market and square it off before the next TSX session. If it is short and has to deliver stock, it might 'borrow' stock from an institution.
But that is how the ASX market-makers will work.
If there is more than 1 market-maker for a stock they will square positions between them. In this case, the time zone difference will make things a bit more complicated especially when price sensitive news is released. There is no overlap when both markets are open.
Investors with two accounts, one through TSX and one through ASX, will/may have compartmentalised holdings because there will be different custodians holding the shares. I invest from the UK but the UK broker simply funnels the orders through an Australian firm and the shares are held by an Australian custodian. The UK broker doesn't have the shares. I don't have any direct dealings with the Australian firms.
Every company is vulnerable to a take over every day. This really doesnt make us any more or less vulnerable imo. If you own shares you can sell them on the ASX via your broker or you can sell them off market and just submit the paperwork. They are your shares, you can sell them anywhere you want, they just have to have the regestery notiified before the new owner can also onsell to who ever they want where ever they want in what ever currency they want.
So theoretically yes there might be a raid of shares sold on the TSX. But hey for us holders thats an awesome thing as it limits the supply, but exposes the shares to two markets worth of demand.
The key thing in any dual listing is "will it create sufficient demand to warrant the extra admin costs and time commitments" So far yes. Time will tell?
Some companies its awesome, others regret it or find it useless and they delist and go back to one market.
So far the cashed up resource rich and super annuation rich Canadians have loved our little baby.
Have a drink tonight and toast AUT's week ahead. Some massive price catalysts to drive AUT in coming weeks.
The TXS has already shown its hand with a $3.60 high and a $3.50 close. Somehow i think thats just the begginning.
The Reserves report will light a flame of interest for the big players looking to secure forward earnings.
The news on frac techniques is just massive and the broker reports will all be upgraded as a result of the reserves.
Should be a huge week imo, not one to spend on the sidelines.
I also reccomend you cast the net over TXN if your not already in and HOG, which is an intriguing play to say the least. SEA will battle on continuing to add value and imo EKA will continue to climb slowly unitl it either announces significant cash flow, or an accellerated plan or acqusition.
The TXS has already shown its hand with a $3.60 high and a $3.50 close. Somehow i think thats just the begginning.
The Reserves report will light a flame of interest for the big players looking to secure forward earnings.
The news on frac techniques is just massive and the broker reports will all be upgraded as a result of the reserves.
Should be a huge week imo, not one to spend on the sidelines.
I also reccomend you cast the net over TXN if your not already in and HOG, which is an intriguing play to say the least. SEA will battle on continuing to add value and imo EKA will continue to climb slowly unitl it either announces significant cash flow, or an accellerated plan or acqusition.
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We should see an operations and production report from sugarloaf, excelsior, ipenema and longhorn, it has been more than 1 month from the last reports.
I think AUT has done this on purpose, waiting untill we listed on the TSX so all the prospective investores can see our flow rates and rate of development.
Should be a massive week for AUT
"Should be a massive week for AUT "
I think that it started on Friday last.
GMP Securities will have egg on its face if the new NPV 10 is not some multiple of the 2010 figure. TEN just cannot be at this stage. Two/Three might be possible depending upon what they are prepared to factor in.
Keep your shields and body armour handy - it could get quite violent out there.
"I think that it started on Friday last.
GMP Securities will have egg on its face if the new NPV 10 is not some multiple of the 2010 figure. TEN just cannot be at this stage. Two/Three might be possible depending upon what they are prepared to factor in.
Keep your shields and body armour handy - it could get quite violent out there.
True - but i think GMP are meaning they forsee a multiple of 10 in due course. As certainly the Austin Chalks will be 4+ years away on the earliest wells.
So i agree a multiple of 2-4 is possible now. Wells spacing multiples cant occur yet as there has been no proving of this by the operator. The chalks have not been targeted yet. Theres the new frac technique to try. etc etc
So realistically this reserves report will simply show better flows accross the acerage and inclusion of all the aceerage, with a lower risk factor.
Im sure Jon stewart knows how he can improve reserves on current acerage, and hilcopr as well. They will be embarking on it in a systematic approach using each 6 month period to build flows and reserves. But issues like securing leases will always take precedent over immediately building reserves. Having said that, they know thier charter is to build shareholder value, and they know building reserves is the quickest way to do so, so when spare capital / time is available they will take steps to book some more reserves.
Brace yourselves folks for an exciting week or two.
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the only regional austin chalk wells i know that went horizontal is the butler well
by regional well i mean within a few miles..
drilled in 1991
the guys i know are related to the landowner, their recollection of that well is that it produced water. it was shut in
there are a few other a bit further away, north and east.. around falls, blackbrush calls it falls austin chalks.. fairly nice production there..
by regional well i mean within a few miles..
drilled in 1991
the guys i know are related to the landowner, their recollection of that well is that it produced water. it was shut in
there are a few other a bit further away, north and east.. around falls, blackbrush calls it falls austin chalks.. fairly nice production there..
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AUT still in pRe Open.. Anouncement time!
Eagle Ford - Sugarloaf Operations and Production Update
http://www.auroraoag.com.au/irm/Company/ShowPage.aspx?CPID=1496&EID=83776192
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that report was pretty useless. i think they only put it out because so many people were expecting the reserves report this week.
reserves report is another few weeks away and only updated till dec 31st 2011.. lammeeeeee
EDIT : I take that back about the report being useless. It did provide good information on the status of the wells (although the flows were a little low?). I just wanted that reserves report.
reserves report is another few weeks away and only updated till dec 31st 2011.. lammeeeeee
EDIT : I take that back about the report being useless. It did provide good information on the status of the wells (although the flows were a little low?). I just wanted that reserves report.
G'day guys, relatively new to this caper (ASF not AUT
).Was just wondering whether the delay in the release of the reserves report
is likely to adversely affect the sp considering investors were expecting it this week?
