BCC - Buccaneer Energy

[resourceboom]

It's not about the success rate, but the commerciability of the wells.
Look at how many dollars BUR threw away with 100% success rate on their giddings austin chalk wells!

with a HUGE (quoted) 90% sucess rate(!!!), you'd have to think they'd be on to something!

 

[quarky]

opened at 0.16 & stock shot up ~10% to 0.17
and now it's ~12% down at 0.14

the buyers are just outweighing the sellers and dragging the SP down, with the outcome only days away...maybe all those Austin Chalk doubters will get their way or perhaps proven wrong, in which case SP will get up to fresh highs

time will tell...

 

[jancha]

opened at 0.16 & stock shot up ~10% to 0.17
and now it's ~12% down at 0.14

the buyers are just outweighing the sellers and dragging the SP down, with the outcome only days away...maybe all those Austin Chalk doubters will get their way or perhaps proven wrong, in which case SP will get up to fresh highs

time will tell...

If the buyers are outweighing the sellers why should that drag down the price? Is'nt a few rather large sellers more like it?

 

[skyQuake]

If the buyers are outweighing the sellers why should that drag down the price? Is'nt a few rather large sellers more like it?

Problem is those buyers are down the screen at 6c or 8c etc.
Market depth doesn't matter as much as WHO is hitting the prices - ie buyers hitting the ask or sellers hitting the bid; and which side refreshes/defends their bids/asks, and which side lets it get taken out.

 

[swm79]

It's not about the success rate, but the commerciability of the wells.
Look at how many dollars BUR threw away with 100% success rate on their giddings austin chalk wells!

well, given that we dont have any results back yet and we dont know a flow rate etc etc etc etc so we cant talk about commerciability of the well yet

but of 12 recent wells by adjacent operators there has been only 1 unsuccessful well.

 

[Agentm]

if one is a duster there are plenty more to come after that

with a HUGE (quoted) 90% sucess rate(!!!), you'd have to think they'd be on to something!

interesting times ahead

got manipulated all over the place today and closed JUST up right at the bell

spud only days away

"An independent expert estimated that the play potential ranged between a p90 (90% chance) of having 20 bcfe and a p10 (10% chance) of having 185 bcfe."

i think they were talking potential.. not success rate??


i would like to see what wells these guys are pulling data off in the region..


these wells they quote, the 12 wells with success rates.. where the heck are they?

can anyone supply api numbers?

are they north or south of the jurassic shelf margin that defines the giddings field? i can see the bcc acreages are north of the shelf, but are they comparing these 12 wells to their side or the other side of the shelf?

theres some ip flow rates quoted in the past month or so.. in presentations .. but no well mentioned.. does anyone know if this was the biggest flow seen? does anyone know what the well they mentioned actually flow at when it was put on production? declines etc??

tia

 

[quarky]

jancha, skyQuake is right by saying that i was looking only at the Market Depth and forming my opinion based on that.

the 'low' asking price and those offloading it at that price, was dragging the SP down...that's what i thought, with my n00b knowledge.

still, announcement is to be made in a few days' time and that'll be rather interesting to say the least.

only announcement made today to the ASX, was the company was launching a new website -- http://www.buccenergy.com/ -- and that was all
(which re-directs to what looks like the 'old' URL. did they just register a new domain name or are still working on a new website? hmmmm)


holding at 0.155

 

[quarky]

BCC posted an announcement today, that the AGM webcast is available.

would this be enough for the SP to drop further to 0.13?

or is this some sort of 'correction', for it to have climbed up so fast and with the options available (dilution?), that the SP needs to be lower... i'm just a little confused.

still, i'm a n00b at this..



holding @ 0.155

 

[skyQuake]

BCC posted an announcement today, that the AGM webcast is available.

would this be enough for the SP to drop further to 0.13?

or is this some sort of 'correction', for it to have climbed up so fast and with the options available (dilution?), that the SP needs to be lower... i'm just a little confused.

still, i'm a n00b at this..



holding @ 0.155

Pre-spud nerves as people square off their positions. Its made lower lows yesterday after cracking new highs.
15 days of hard running and its taking a break. Maybe back to the 11/12c congestion area?

 

[swm79]

BCC posted an announcement today, that the AGM webcast is available.

would this be enough for the SP to drop further to 0.13?

or is this some sort of 'correction', for it to have climbed up so fast and with the options available (dilution?), that the SP needs to be lower... i'm just a little confused.

still, i'm a n00b at this..



holding @ 0.155

quarky i dont believe it has anything to do with the AGM webcast posted today

SP has strong support at this point... also, lots of tree shaking IMO - people trying to rattle cheap shares off others by hitting stop losses and creating fear by dropping the SP

with the spud coming up in the next day or so i dont think you can pay a lot of attention to the manipulatiopn of the SP at the moment.

its moving in a similar way MEO has done in the past

 

[swm79]

Pre-spud nerves as people square off their positions. Its made lower lows yesterday after cracking new highs.
15 days of hard running and its taking a break. Maybe back to the 11/12c congestion area?

also in a 38/50 point of confluence on the fib - market has memories

interesting to see what it does at the end of the day and leading into tomorrow.

lots of buys at 15.5 would have had stops hit - dont you have one on this SQ?

 

[skyQuake]

also in a 38/50 point of confluence on the fib - market has memories

interesting to see what it does at the end of the day and leading into tomorrow.

lots of buys at 15.5 would have had stops hit - dont you have one on this SQ?

In and out a fair bit (too much one might say). After it made lower lows on the 23rd, Couldn't play it on the long side safely anymore so and stayed out.
Also there used to be a size buyer late morning/noon. He's gone now so the price could very well head south (may be him dumping)

 

[swm79]

In and out a fair bit (too much one might say). After it made lower lows on the 23rd, Couldn't play it on the long side safely anymore so and stayed out.
Also there used to be a size buyer late morning/noon. He's gone now so the price could very well head south (may be him dumping)

yeah i'd say that would be his trading play tho BESBS... wouldnt hang around post spud

i'm still long on it because i'm still positive... but i'm bottow drawing them for a while... with GGP

nice trades over at BKP - money to be made there

 

[Miner]

quarky i dont believe it has anything to do with the AGM webcast posted today

SP has strong support at this point... also, lots of tree shaking IMO - people trying to rattle cheap shares off others by hitting stop losses and creating fear by dropping the SP

with the spud coming up in the next day or so i dont think you can pay a lot of attention to the manipulatiopn of the SP at the moment.

its moving in a similar way MEO has done in the past

Strong support at what level SWM 79 ?
It is just sliding downwards from some high on 16 cents and then dived down at 12.5 cents at some stage today. I think it is all marketing hype of BCC with no real strenght.

I am struggling to have put some money on it at 15 cents too low price to drop it

 

[swm79]

Strong support at what level SWM 79 ?
It is just sliding downwards from some high on 16 cents and then dived down at 12.5 cents at some stage today. I think it is all marketing hype of BCC with no real strenght.

I am struggling to have put some money on it at 15 cents too low price to drop it

oops, i meant resistance at 12.5.... there is strong short term resistance at the 12.5c level... we'll have to see if this forms the new support level today or will it dive back down... if we see it get to 13.5 (which are relevant fib levels) and hold there it will most probably form the next level of support.... if this doesnt occur we could see it push back down and fill the 10-10.5 gap

alternatively there is also a lot of resistance at the 15c level and it will struggle to break through that too.

you'll also notice on the chart below that the short term 5 day moving average has been a good line of support and the price has been bouncing up off it consistently

 

[gaps]

doji has formed today on BCC, a gap up tmr will be a buy signal. right along with the spud anns soon. i m longing on this too, company direction of drilling low risk wells. does look like meo in the making. good luck all.

 

[watchingall]

For those who have not seen this yet, this is a very good explaination of the Lee county well.

http://www.youtube.com/watch?v=qJ5snEY3IXA

 

[Airfireman]

Lots of talk and good reviews about BCC....all looking favourable..

Holding at .12

Tim

 

[nomore4s]

Lots of talk and good reviews about BCC....all looking favourable..

Holding at .12

Tim

Hi Tim,

Can you please add some detail to this post. What is the "talk & good reviews"? Why is it looking favourable?

I have had to delete a couple of posts in this thread due to ramping and some other posts are borderline. Please try to add some content to your posts.

This is a reminder to all posters that ASF expects a high standard of posting in the stock threads to keep the quality content up for the benefit of all users of the site. Posts like the above would normally be removed so to save wasting both your time and the mods time please try to add some useful content.

Thank you.

 

[Miner]

Hi Tim,

Can you please add some detail to this post. What is the "talk & good reviews"? Why is it looking favourable?

I have had to delete a couple of posts in this thread due to ramping and some other posts are borderline. Please try to add some content to your posts.

This is a reminder to all posters that ASF expects a high standard of posting in the stock threads to keep the quality content up for the benefit of all users of the site. Posts like the above would normally be removed so to save wasting both your time and the mods time please try to add some useful content.

Thank you.

Thanks Nomore4s for your intervention as a moderator.

BCC I believe has been a sunshine scrip for the day traders. All talk by the directors and some traders catapulated the share price unnecessarily. There is no technical strength and all market hypes.

I think such glib talks should be challenged to be provided with facts and figures.