BLU - Blue Energy

[kingbrown]

She just hit .23 with VOLUME !!

iam up a fair wack inc today 47%

Should i sell or should i stay

Then i think PES ???

 

[kingbrown]

Monday, March 09, 2009

Blue Energy hire to ratchet up coal seam gas certification

Blue Energy (ASX:BUL) has announced that John Phillips has joined the Company to manage a number of development projects designed to achieve CSG reserve certification in the near term.

Mr Phillips is the former Chief Operating Officer of Sunshine Gas and was responsible for the successful exploration program, reserve certification process and development of the Lacerta CSG Field.

Executive Chairman, Peter Cockcroft said, “John’s depth and breath of experience, particularly within the Surat and Bowen Basins, will be a significant boost to our technical capabilities. We have a number of projects where John’s knowledge will accelerate development plans.”

re media link
http://www.proactiveinvestors.com.a...chet-up-coal-seam-gas-certification-0978.html

 

[UPKA]

yep, just a hype about the new COO. I think the price will most likely die down over the next week or so. I don't think certification will be out anytime soon... typical BUL management

 

[beerwm]

I think they might release a reserves certification timeline, and maybe a capital raising,

along the same lines as BOW.

The appointment of the new member kinda suggests they are going to head in this direction, and that might make a move in the SP.

given the success of BOW's action to fast-track reserves, wouldnt suprise me if BUL took the same route.

 

[kingbrown]

Yep she dipped back a touch
but this week has been a good one in general
yesty closed @ .21
Today touched .235 by lunch with turnover
I noticed on my commsec that many trades were listed as x trades

Still holding firm

 

[kingbrown]

Volume was just under 7 mill today on no news ?
Which i think was quite high given the past few months turnover
even on a good week ?
note morning buys in multiple 100's

BUL 0.220 0.230 0.220 0.010 4.762 0.210 0.235 0.210

6,704,350 253

Any comments out there ?

 

[Dukey]

Volume was just under 7 mill today on no news ?
Which i think was quite high given the past few months turnover
even on a good week ?
note morning buys in multiple 100's

BUL 0.220 0.230 0.220 0.010 4.762 0.210 0.235 0.210

6,704,350 253

Any comments out there ?

I think all csg stocks are benefitting from the recent t/o activity - folks profiting from QGC and PEs takeovers - buying in to next possible targets.
AOE at the very least is probably now on the hunt having missed out on PES. MPO and BOW have gone hard recently (and i was too slow!) BUL has moved nicely from 15 c region. Maybe based on 'nearology' of other csg exploration? + likelihood of more t/o action in the sector.

all IMO - and I do hold BUL

 

[kingbrown]

Seems to be holding in the mid 20's quite nicely

Volume is still there too
some ones sees the value

Could it be Arrow ??

Very happy indeed

 

[kingbrown]

i think this is quite relevant to our csg sector

LNG looks good as oil prices continue to fall
Matt Chambers |
Article from: The Australian

FALLING oil prices are raising interest in Australia's liquefied natural gas sector as oil majors look to boost vital reserves they can no longer secure in areas like Canada's oil sands.

Despite the steep drop in global energy prices over the past nine months, Queensland's coal seam gas sector has been strong as global and local Gladstone LNG proponents jostle for the state's reserves.

On the other side of the country, the long-delayed $50 billion Gorgon LNG project, potentially the nation's biggest development yet, is picking up steam, with operator Chevron labelling it the company's top 2009 priority.

Reserve replacement among international oil companies is a key driver of share prices, meaning they will not sit idle if one of the areas they are in dries up.

"Australia is key on the target list for many companies because they are opportunity constrained and that is evidenced by the numbers that are active here," PricewaterhouseCoopers global LNG leader Michael Hurley said.

Oil at $US50 was a sweet spot for LNG, where it was still profitable but not high enough to attract companies to alternative upstream sources, he said.

In a presentation to analysts earlier this month Chevron chief executive David O'Reilly said he hoped to approve the massive Gorgon project, to be built on Western Australia's Barrow Island, by the end of the year.

A decision on the nearby Wheatstone project, which is slightly smaller at 10 million tonnes a year, is planned for 18 months later.

Unlike oil, gas requires linkage to a market and an approved project to be classed as commercial reserves.

This was strengthening the incentive to go ahead with LNG projects, Mr Hurley said.

Mr O'Reilly said Gorgon could grow to four or five trains.

"Chevron is exhibiting similar characteristics to most of the other large integrated oil companies: an increasing reliance on very large projects to replace the more diverse existing production base," Credit Suisse analyst Mark Flannery said in a report following Mr O'Reilly's comment.

Also underlying the increasing focus on Gorgon, 25 per cent partner Exxon Mobil, which has previously been seen as a potential hurdle to the project going ahead, this month signed a deal to supply 2 million tonnes a year of gas from the project to PetroChina.

Chevron owns 50 per cent of Gorgon and Shell owns 25 per cent.

On the other side of the country, CSG-to-LNG plans have led to BG Group, Conoco Phillips, Petronas and Shell to team up or take over local companies as they vie for position in the burgeoning industry.

There are now five planned LNG projects at Gladstone.

see Australian for full report

http://www.theaustralian.news.com.au/story/0,25197,25224874-643,00.html

 

[Dangerous]

BUL have a mkt cap of over $100M and they have nothing (yet)!.... Surely the most over cooked CSG stock on the market.

They will prob certify some reserves in the coming months, but still with a mkt cap that high they need to do so soon

Mkt cap is the first thing i look at in a stock. Ask yourself "would i pay $100M for nothing"?

 

[kingbrown]

I do note your point !

But Blue has vast CSM acreage
and someones buying this stock up ?

Up again today to .28
on what i would have thought to be a bad day
i seem to be on my own on this forum
Up a fair wack now
Will continue to hold for now

 

[grace]

I do note your point !

But Blue has vast CSM acreage
and someones buying this stock up ?

Up again today to .28
on what i would have thought to be a bad day
i seem to be on my own on this forum
Up a fair wack now
Will continue to hold for now

Hi kingbrown, you don't walk alone here. I'm joining you.
Blue was always a high risk hold of mine. Today OIP found 5mtrs of gassy coal north of Moree. Not what I would call stunning. I personally think Blue are capable of much more than that (different area of course). Those who collected at the low have done nicely. In relation to earlier posts from others, Blue are later to the party than the likes of Pure (when I bought into Pure they had proved up nothing either). So we are all buying into potential here. High risk as usual, but a wait and see game.

 

[philly]

Hi Grace and Kingbrown, I'm walking with you too. I brought BUL in mid March @20c so I'm up 40% in 2 weeks!! imo there is a lot of upside. BUL has interests in the Bowen, Surat and Gallilee Basins in QLD + its interests cover an area over 20,000 km² and are located in prime CSG zones. Patience and the SP will grow

 

[YOUNG_TRADER]

Hi kingbrown, you don't walk alone here. I'm joining you.
Blue was always a high risk hold of mine. Today OIP found 5mtrs of gassy coal north of Moree. Not what I would call stunning. I personally think Blue are capable of much more than that (different area of course). Those who collected at the low have done nicely. In relation to earlier posts from others, Blue are later to the party than the likes of Pure (when I bought into Pure they had proved up nothing either). So we are all buying into potential here. High risk as usual, but a wait and see game.

Hi Grace and Kingbrown, I'm walking with you too. I brought BUL in mid March @20c so I'm up 40% in 2 weeks!! imo there is a lot of upside. BUL has interests in the Bowen, Surat and Gallilee Basins in QLD + its interests cover an area over 20,000 km² and are located in prime CSG zones. Patience and the SP will grow

Hey guys, while its true BUL has no reserves ie no 1P 2P or 3P Gas they have Massive and I do mean massive GIP (Gas in Place) estimates at ATP 814P which is next door to Arrow Energy they have a GIP estimate/target of 1TCF at ATP 813P they have a GIP of 15 TCF thats massive!!!

All early days but massive targets and huge upside if it can be proved up

 

[Shrewd Crude]

young trader...

You stole this oFF me From another tread...

best you reFerence your inFo in Future mate....


.^sc

 

[YOUNG_TRADER]

young trader...

You stole this oFF me From another tread...

best you reFerence your inFo in Future mate....


.^sc

I don't hold BUL and have not been following the stock, I actually got this info from their qtrly shrewd, you should know me well enopugh by now to know I don't do stuff like that, check the qtrly report and you'll see I've "stolen" it straight from there

Anyhoo like I said not holding and haven't been following the stock just started looking at them, I prefer another to be honest

 

[Shrewd Crude]

my apologies YT...
I had a Few wines, and Ive pretty much never been pissed on wine so ise on a crazy buzzz...
Forgive me For my blowout...
Dont think I said silly things anywhere else... hehehehehe...

any way,

The market announcement last year detailing resources oF 21 TCF oF gas is mind boggling...

This is what got me interested in the stock last year... I kind oF put in on the backburner until a mate recently bought in...


.^sc

 

[babka]

SC, you are entitled to get pissed on some red or white plonk, no worries. You are obviously young and your liver can still handle it. But that is beside the point. Your opinion on BUL is what interests me. You write good, qualified and quite technically informed posts about CUE, so your "feelings" for BUL, if you care to publish them, will be much appreciated. Regards. PS. Red wine is good for you, so they say, have quite a few every night myself.

 

[YOUNG_TRADER]

my apologies YT...
I had a Few wines, and Ive pretty much never been pissed on wine so ise on a crazy buzzz...
Forgive me For my blowout...
Dont think I said silly things anywhere else... hehehehehe...

any way,

The market announcement last year detailing resources oF 21 TCF oF gas is mind boggling...

This is what got me interested in the stock last year... I kind oF put in on the backburner until a mate recently bought in...


.^sc

lol nothing wrong with bing on the red but what the heck are you doing on the comp, you should be up to mayhem when pissed

Do you have a link to the ann of 21TCF? I could only find 1TCF and 15TCF so total 16TCF, thanks in advance

 

[Dukey]

Just trying to get a better feel for what the figures released mean...

on Page 4 the total Gas in place (Bcf ) estimates are:

11598 (-P90 = lowest estimate)
21284 (-P50 = 'most likely' estimate)
35761 (-P10 = high estimate)

In terms of recoverable gas - sources say that around 60-70% is a good figure - (USA; Sydney gas; bowen basin) BUT it might be prudent to apply a VERY conservative 30% recovery factor.
Applying this to those figures above:

11598 (-P90) X .3 = 3480 Bcf
21284 (-P50) X .3 = 6385 Bcf
35761 (-P10) X .3 = 10728 Bcf

remember 1Bcf =~ 1 PJ.

So.... even if we take the MOST conservative Low GIP estimate multiplied by the VERY conservative recovery rate of 30% - we have a figure of 3480 Bcf (=~ PJ).
Using the Most likely GIP X less conservative recovery rates -.... well the figures are huge.

To put this in perspective:
QGC currently have 2P (proven and probable) resources of 2370 PJ.
AOE have current 2P of 791 PJ.

Of course - BUL still has to do the drilling to prove up these numbers, and the apparent write-off of some tenements for CSG is dissappointing, but it seems they should do very well when they start proving & producing.

-good luck all, gotta go -Dukey

Just went back in the thread - the post above was from june last year referring to 21Tcf of P50 (actually 21284 Bcf Gas in place). I would have got that from a company presentation of that time.

Not sure what the current figure is.

I'm still here holding BUL - confident they'll find something of value in amongst their huge agreage - but it is a bit more risky than some other csg-ers IMO - since most of the tenements are on the edges of the known sweet CSG areas, and largely unproven.

..... but so was PES until a few months back and look what happend to them. though my money for the next csg t/o targets would be on the mid sized players with some reserves under the belt.
BUL will have their day - but maybe not just yet ...
..... hope I'm wrong though!