Australian (ASX) Stock Market Forum

BLU - Blue Energy

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grace said:
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.
Click to expand...

Thanks Grace and co
Good to see iam not alone on this one
After trying to break to .30 it has retraced a touch this week
i note volume was down today and one very large single trade came through near the close :cautious:
But the whole sector is full of hot gas and speculation atm

I hope this may well prove to be our next PES ;)
Yes the potential is huge on this stock
so i have this as my Wildcard CSM stock
Still cant be unhappy with it atm :D:D
 
Well its seems all quite on here again ?
Volumes appear to be falling off on this stock ?
so i bit the Blue with Blue

Yep i Sold out of yesty @265 pretty happy with that as iam up quite a wack still


Will wait for a re-trace but i doubt i'll get them for 15.5 again ?

just have the feeling the markets getting a bit overcooked atm
A few others are cashing in too
iam letting most of my spec'y stocks go atm

Anyway ive walked away with a new Waverunner
Thanks Blue he he
:D:D
Will probably loose it on something stupid like AED oil later :eek:

Any Way Good luck guys !

Will jump back in sometime soon on news though
still hold esg

Cheers K.B
 
Hi Kingbrown,
can't blame you for getting out. You made a nice profit and that's the aim of the game
Seems we're just treading water at the moment But I'll stay put for a bit longer and hope the SP goes up a bit more.
Enjoy

PS Hi Grace, it seems its you and me left LOL
 
Hello, hello,
you are not alone, there is another holder here, but I will wait a little bit longer and hoping for better. Don't want to sell now, bought at 0.22c so my profit would be miniscule, also don't have many shares. I have confidence in new CEO, he has a good record and reputation. Wait and see - is my game atm. Good luck to us holders!!!!!!!!!!!!!!
 
BUL dropped to 22c at open this morning but the media release (23 april 10.12am) below has seen it rise back up to 26c (as at 12.30pm) … nice

“Update on Farmin to Magellan Maryborough CSG Properties
Blue Energy Limited (ASX:BUL) is pleased to announce that its wholly owned subsidiary Eureka Petroleum Pty Ltd, having completed stage one of its farmin obligations to Magellan Petroleum (Eastern) Pty Ltd (“Magellan”) on ATP’s613P, 674P and 733P, has executed an amendment to the farmin agreement.
Blue Energy has fully funded the drilling of two successful exploration wells in ATP 613P to test the coal seam potential of the Burrum Coal Measures. Additional work on the tenements had been suspended pending completion of Native Title negotiations by Operator, Magellan.
Under the amended agreement Blue Energy will become Operator and undertake an agreed work program to earn a 75% interest in the farmin area within the ATP’s.
The Gas in Place estimate (P50) for the farmin area is 395PJ (~372Bcf).
Executive Chairman Peter Cockcroft said “We are particularly pleased to have reached agreement with Magellan on the further exploration of these properties as we see their potential and proximity to existing and proposed infrastructure to be of strategic value not only to domestic power generation but also to future LNG projects.””
 
Anyone interested in BUL should read todays announcement regarding a partnership agreement with the Korean gas company KOGAS. Under the terms of the agreement KOGAS will purchase a 10% equity in BUL. Along with the funds from the SPP (closing June3) this will mean that BUL will have sufficient funds to continue the development of its coal gas resources. The SPP price of 20c against the price today of 24c is appealing.

BUL has been slow off the mark but has a new future with new management and a credible partner. DYOR.
 
Dont know about everyone else but it made me jump back into Blue on Friday
:)
Any comments on this tie up

Brisbane Times

Korean Gas takes stake in Blue EnergyMay 29, 2009
Korean Gas Corporation (KOGAS) is set to take a 10 per cent stake in Blue Energy Ltd through a private placement under plans for a strategic partnership with the coal seam gas explorer.

Shares in Blue Energy were up 2.5 cents, or 11.63 per cent, at 24 cents at 1157 AEST on Friday.

Blue Energy said in a statement on Friday that it had executed a heads of agreement with KOGAS, which is the world's largest liquefied natural gas importer.

KOGAS has also been granted an option to buy-in to two of Blue Energy's permits in the Galilee Basin and Northern Bowen Basin of Queensland.

KOGAS will be entitled to nominate one director to Blue Energy's board.

The funds from the proposed placement will be put towards Blue Energy's work program, with the goal of achieving first gas reserve certification in the second quarter of 2010.

The deal is subject to approval by the boards of both parties and Australia's Foreign Investment Review Board.

"Blue Energy views KOGAS as a key long term strategic partner," Blue Energy executive chairman Peter Cockcroft said.

He said the partnership would help underpin Blue Energy's short term domestic gas and medium term export plans.
 
Friday, May 29, 2009

Blue Energy attracts investment from Korean Gas Corporation, world's largest LNG importer


In a coup for Blue Energy Ltd (ASX: BUL) shareholders, Korean Gas Corporation (KOGAS) will buy 10% of Blue Energy at 20 cents per share and form a strategic partnership. KOGAS has an option to farmin to Blue Energy’s ATP813P in the Galilee Basin and ATP814P in the Northern Bowen Basin.

KOGAS is the world's largest LNG importer. It is listed on the Korean Stock Exchange (KSE) with 2008 total revenue of A$24billion. KOGAS currently operates three LNG terminals and a nationwide pipeline network in Korea spanning over 2,700km.

Peter Cockcroft Blue Energy Executive Chairman was understandably enthused by the deal with KOGAS. He said Blue Energy views KOGAS as a key long term strategic partner and together with Blue Energy’s existing alliance with Stanwell Corporation, provides the foundation for Blue Energy to deliver on both our short term domestic gas and medium term export market strategies.”

Funds from the proposed KOGAS placement with expected proceeds of the Share Purchase Plan (SPP) and existing cash reserves will enable Blue Energy to to move to first gas reserve certification in the second quarter of 2010.

The Company's acreage consists of fourteen tenements across six productive basins in Queensland and South Australia totalling over 33,000km²


http://www.proactiveinvestors.com.a...oration-worlds-largest-lng-importer-1584.html
 
Blue Energy raises over $22m
9-June-09 by Edited announcement




Blue Energy has raised more than $22 million through a share purchase plan which, together with a proposed placement to a Korean company, will accelerate the explorer's proposed work program for the next two years.



The announcement is below:



Blue Energy Limited (ASX code: BUL) advises that it has successfully closed its Share Purchase Plan (SPP), announced on 1 May 2009, receiving more than 2200 applications from eligible shareholders for approximately $22.3 million of new ordinary shares.

Executive Chairman, Peter Cockcroft said "We are extremely pleased with the strong support and high level of participation we received from our retail shareholders with approximately 50% of those eligible participating in the SPP. This demonstrates significant confidence in Management's ability to deliver shareholder value."

Completion of the SPP will result in allotment of approximately 118 million new Blue Energy ordinary shares. The actual number of shares to be issued is subject to final processing of applications.

Under the previously announced terms of the SPP, the shares will be issued at a price of $0.1894 per share, being the 5 day volume weighted average price for the 5 trading days up to and including 3 June 2009. The allotment of shares is expected to take place on Friday, 12 June 2009.

The combination of the SPP proceeds, funds on hand and successful completion of the recently announced proposed placement to Korea Gas Corporation (KOGAS), will provide Blue Energy with sufficient cash to undertake and accelerate the Company's proposed work program for the next 18 - 24 months.

link here
http://www.wabusinessnews.com.au/en-story/1/72995/Blue-Energy-raises-over-22m-
 
I thought the last few announcements where very positive and has got me excited about this one. I thought there would be more interest But there dos,nt seem to be much. Any thoughts anyone ?
 
Borrachobob said:
I thought the last few announcements where very positive and has got me excited about this one. I thought there would be more interest But there dos,nt seem to be much. Any thoughts anyone ?
Click to expand...

Yes you are right. Its price is not going up at all (even going down) despite solid information from a very committed (just recently, but not before) CSG company. There is no other CSG company which owns such large and supposedly prosfective tenements all around Bowen, Surat and Galilee basins (but no certified gas) that sits around $0.20 sp. It'll go up, don't worry. I am holding my BULs very tightly, and topping up all the time.

I think its price is under pressure by the big shareholders by a few reasons.

However, I can see on its chart there is a positive divergence created which means that SP is going to go up very soon (this is a not 100% correct indication though). This is IMHO, if anyone knows better than me s/he is welcome to correct me. (Pls see the chart below)

(A positive divergence occurs when the indicator moves higher while the stock is declining. A negative divergence occurs when the indicator moves lower while the stock is rising)
 

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Folks

I am a regular subscriber of Eureka Report

I do not get this mob David Haslehurst . He has a portfolio of few species. Suddenly couple of them shot up like meteriots : Trafford and Scotgold resources.

In both the casse the companies blamed (or credited) David's newsletter behind the rise. I take this with pinch of salt. Because by the time the newsletter gets published the share prices already shot up.
Secondly, the people who bought before the publication and still had the article from David are who are printing for Eureka Report or the Eureka Report mobs themselves

If David is such a smart guy then why the public not running after BUL which has actually dropped down much below than David claimed to have bought it.
He bought BUL at 22 cents and now BUL is at 19 cents

Looks like lot of BUL story being published by David and under the report he is just helping some folks to get share prices up :confused:

The Speculator's portfolio, as at June 23, 2009
Company ASX No of shares Bought Purchase price Current price
Laserbond LBL 20,000 4/07/2008 $0.10* $0.100
Robust Resources ROL 40,000 13/02/2009 $0.155 avge $0.630 (i never read from him about this investment way back in Feb)
Quicksteps Holdings QHL 20,000 16/03/2009 $0.165 $0.155 (this did not get appreciation since March )
Cortona Resources CRC 20,000 14/04/2009 $0.150 $0.165

A1 Minerals AAM 20,000 12/05/2009 $0.145 $0.140 (loss)
Gage Roads Brewing GRB 40,000 26/05/2009 $0.050 $0.058
Image Resources IMA 12,000 2/06/2009 $0.645 $0.665
Blue Energy BUL 20,000 9/06/2009 $0.225 $0.190
Trafford Resources TRF 30,000 16/06/2009 $0.185 $0.220
Citigold Corporation CTO 26,250 19/06/2009 $0.152 $0.180

Scotgold Resources SGZ 20,000 22/06/2009 $0.100 $0.090


Who knows

Disclaimer : A bit of Bul Story I am a holder of BUL.
 
Borrachobob said:
I thought the last few announcements where very positive and has got me excited about this one. I thought there would be more interest But there dos,nt seem to be much. Any thoughts anyone ?
Click to expand...

Bul has made a generous offer through the SPP allowing all holders,no matter how small, the oportunity to purchase up to $15,000 worth of shares. Selling at 20c shows a profit for those that bought to take a profit. I was lucky and sold enough at 27c before the issue to cover my cost. I expected a sell off after the allocation. In addition there would be a lot of sellers making a sale for tax loss reasons. Because of the wash sale watch by the ATO they are not buying straight back.

The fundamentals seem sound and I expect the low prices will not last. A good announcement of proven reserves will see this stock rocket. Their partners are no fools and would not have invested if they were not confident in the long term. Add to that the fact that they are starting to talk gas pipe lines is a show of confidence. Finance is no longer a problem.

That is how I see BUL and that's no bull.
 
With whats going on with ESG etc
It by no surprise BUL closed out @ .27 yesterday
:cautious::cautious::cautious:

Also see Australian article Re : Newcastle LNG plant
Plenty of upside atm :2twocents

Would be great if we could generate some debate on this LNG topic for NSW

Newcastle on the map as a port for LNG exports


NEWCASTLE Port could support a liquefied natural gas export plant to process the huge coal-seam gas resources Santos and partner Eastern Star Gas say they are sitting on in NSW's Gunnedah Basin, according to an early study.

Eastern Star managing director David Casey told The Australian a report his company commissioned into the possibility of an LNG plant at Newcastle, north of Sydney, had come back positive.

"The report says it can be done and that it (an LNG plant) should be looked at further," Mr Casey said.

http://www.theaustralian.news.com.au/business/story/0,28124,25806542-5005200,00.html
 
ahem.... BUL's charging over the last two days !! ;).

not sure what the go is exactly - but this one doesn't jump like that for no reason (only IMO of course based on past observations of this share) - so I expect someone knows something juicy about expl results, corp deals, or the like.

either way - it's about time for us long waiting BUL holders!
 
Where there is smoke there is fire (usually). I too am wondering what is going on, not that I am complaining. The more smoke the bigger the fire.
 
Call this ramping if you wish but Blue Energy must be one of the most underpriced stocks available in the energy stakes that I can find.

1. It has large lease areas in the best areas for coal seam gas in Queensland.

2. The Queensland government has come out with the statement that there is a huge potential for the export or liquid gas derived from the coal seam gas with quantities that will turn around the finances for Qld.

3. Blue Energy has two high profile partners in Stanwell (power generation for Qld distribution) and Kogas ( a large Korean liquid gas importer)

4. An increased drilling program to establish reserves is now underway.

5. The company appears to be well funded.

6.The SP is low and has been held back by the uncertainty of the future for the large number of shares held by the ANZ bank which are in dispute.

7. Compared to other coal seam gas companies BUL is well underpriced.

DYOR......... but I did very well out of AOE by getting in early and I expect BUL to beat that for me.
 
nioka said:
Call this ramping if you wish but Blue Energy must be one of the most underpriced stocks available in the energy stakes that I can find.

1. It has large lease areas in the best areas for coal seam gas in Queensland.

2. The Queensland government has come out with the statement that there is a huge potential for the export or liquid gas derived from the coal seam gas with quantities that will turn around the finances for Qld.

3. Blue Energy has two high profile partners in Stanwell (power generation for Qld distribution) and Kogas ( a large Korean liquid gas importer)

4. An increased drilling program to establish reserves is now underway.

5. The company appears to be well funded.

6.The SP is low and has been held back by the uncertainty of the future for the large number of shares held by the ANZ bank which are in dispute.

7. Compared to other coal seam gas companies BUL is well underpriced.

DYOR......... but I did very well out of AOE by getting in early and I expect BUL to beat that for me.
Click to expand...

I agree nioka - although their locations are a bit peripheral to the real sweet spot that BG and Arrow share most of.

but just the same, I expect this current drill program will start the ball rolling for BUL and we should see a revaluation sometime over the next few months as the results start to roll in and real gas assets appear on their books. .... and also as the results of other small CSG'ers near to BUL tenements ramp up their exploration works.

- here's hoping anyway... D
 

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