BLU - Blue Energy

[nioka]

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.

:
The above was posted a month or so ago. In the meantime there has been plenty of time to accumulate as the SP languished at low levels. Todays announcement points to the start of the an interesting time for BUL. Patience looks like being rewarded. DYOR

 

[Tukker]

Better than expected results, and 6 times the usual volume after a pretty hard accumulation period.

I bought in a few weeks ago at these lvls reached and was hoping for some kind of rebound, looks like i got it. Now to see if it can break out during a predicted down month.

25c looks like a reasonable resistance line, lets see how it goes.

 

[condog]

Better than expected results, and 6 times the usual volume after a pretty hard accumulation period.

I bought in a few weeks ago at these lvls reached and was hoping for some kind of rebound, looks like i got it. Now to see if it can break out during a predicted down month.

25c looks like a reasonable resistance line, lets see how it goes.

With the high quality finds it shouldnt have much trouble... It is an undiscovered gem...getting harder to ignore by the day...Im in but need to up my holding on this one before it takes off or has another major upgrade...

 

[condog]

Better than expected results, and 6 times the usual volume after a pretty hard accumulation period.

I bought in a few weeks ago at these lvls reached and was hoping for some kind of rebound, looks like i got it. Now to see if it can break out during a predicted down month.

25c looks like a reasonable resistance line, lets see how it goes.

With the high quality finds it shouldnt have much trouble... It is a bit of an undiscovered gem...getting harder to ignore by the day...Im own it but need to up my holding on this one before it takes off or has another major upgrade...

Disc I may own this from time to time...

 

[Tukker]

Battered and Bruised.

Someone has jumped ship as the rain delays put off any good results in the short term. Buying opportunity for those who have the cash. Went to a low of 16.5c today, would really like to know who is selling.

Indicators showing oversold regions, given the volume I am in agreement.

Have any fundamentals changed nokia?

 

[condog]

I wouldnt fret it just those with short time lines showing a bit of frustration and keeping thier capital working...

 

[AussiePaul72]

I wouldnt fret it just those with short time lines showing a bit of frustration and keeping thier capital working...

I tend to agree Condog ..... traders on tight timelines ..... same thing has happened with BCC ...... don't think there is a lot to worry about as these stocks will likely bounce back with no reason for declining except a time delay in exploration activities

 

[Tukker]

Volume bounced back to lvls more suited to BUL. Drilling update probably within a week or thereabouts explaining how many buckets of water they mopped up, then they can get back on track to actual work.

20 cents still showing significant resistance I would really enjoy to see sp bounce off 18 and hold for the rest of the week, $380k brought the share price up from 17.5 to 19. Probably a mil needed to break 20c.


AussiePaul72; yes traders and their time lines a concept unfortunately drilled into us since the inception of profits.

*Whipping the heck out of a turtle stampeding through peanut butter.*

 

[Tukker]

KOGAS and Blue Energy MOU

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01047274

Price moved back up into the 19c range and if you consider the price has been range bound between 19c and 28c for the last year, you could say its reached a pivotal point technically to favor a bullish run.

On the other hand, one could also say a new range has been formed between 16c and 20c. However with the recent news fundamentally the company is better off than it was before, so one would hope the market prices to suit.

I hold at 17.5c

 

[Wysiwyg]

BUL tried for a run above 20c but the clubbers jumped out of the closet and beat the price back down. Maybe just normal small profit taking but cutting their nose off in spite of their face. Strange. Company making business progress with plenty of funds at hand so doesn't appear to be any nasty hidden agendas. Strange. Maybe it's a time thing. Maybe it's all pee and wind.

:dunno:


*Whipping the heck out of a turtle stampeding through peanut butter.*

 

[vincent191]

BUL tried for a run above 20c but the clubbers jumped out of the closet and beat the price back down. Maybe just normal small profit taking but cutting their nose off in spite of their face. Strange. Company making business progress with plenty of funds at hand so doesn't appear to be any nasty hidden agendas. Strange. Maybe it's a time thing. Maybe it's all pee and wind.




Hopefully with the new CEO and what is happening to Arrow we will see a higher resistance to the BUL sp. BUL is not doing itself any favours by being conservative and talking "small" I reckon the new CEO should start talking "BIG".

 

[Dangerous]

Hopefully with the new CEO and what is happening to Arrow we will see a higher resistance to the BUL sp. BUL is not doing itself any favours by being conservative and talking "small" I reckon the new CEO should start talking "BIG".

Hard to talk big without certified reserves.... once they have 2P reserves they may be able to start talking things up... Until then stocks like this are worthless. They are in the job of gas exploration and at this stage they have not found anything.

 

[vincent191]

I stand corrected.....instead of talking BIG, BUL's new CEO should talk UP the stock. To gain investors confidence CEOs need to talk up, I don't mean bull**** without basis, but some sort of marketing talk like highlighting drilling results and what can happen if further drilling can confirm current results etc.... There are CEOs that can sell ice to the eskimos and there are those that won't tell you the time of the day.

I won't say BUL has got nothing, a couple of their early drilling results have shown promise and they hold large tenements close to proven resources.

 

[Tukker]

BUL tried for a run above 20c but the clubbers jumped out of the closet and beat the price back down. Maybe just normal small profit taking but cutting their nose off in spite of their face. Strange. Company making business progress with plenty of funds at hand so doesn't appear to be any nasty hidden agendas. Strange. Maybe it's a time thing. Maybe it's all pee and wind.

:dunno:

Its having another go at the moment. Nice and steady buying increases since the new ceo was appointed and the mou was signed.

Definitely upward momentum leading up to the 20c mark, and the right kind at that.

Ill look for some consolidation around 21c. and see what happens after that.

 

[Dukey]

Its having another go at the moment. Nice and steady buying increases since the new ceo was appointed and the mou was signed.

Definitely upward momentum leading up to the 20c mark, and the right kind at that.

Ill look for some consolidation around 21c. and see what happens after that.

certainly looks like BUL has appeared on a few more radars! - up to 23c this morning - where she hasn't been since Jan 20 and that was on the way down. I think the current exploration, new monslatt reserves estimates, kogas deals, and general positiveness surrounding all things CSG are finally starting to put a rocket under BUL - who are
surely in a box seat with the positioning of some of their acreages - to link in as supplier to one or more of these LNG plants.....
... but at the same time, they will be creeping higher up the menu for the big CSG-ers who are still hungry for gas and looking for opportunities to tie up their supply.

you won't find me thinking about selling this one in a blue fit now, nor any other smaller CSG plays that i own.

- D.

EDIT: add new reserves from recent announcement.

Blue Energy Limited (ASX: BUL) is pleased to advise that an assessment by Netherland,
Sewell and Associates (NSAI) of the dataset from the Monslatt area of ATP814P has resulted
in the following initial resource estimate by NSAI:
Category NSAI Estimate
2C (Contingent Resource) 121PJ (Gas in Place)
3C (Contingent Resource) 3,411PJ (Gas in Place)
Prospective Resource 3,630PJ (Gas in Place)

 

[vincent191]

Some investor newsletter has got BUL as a buy. Someone is playing silly buggers in the buyers queue.

 

[Tukker]

Some investor newsletter has got BUL as a buy. Someone is playing silly buggers in the buyers queue.

Is that an assumption or do you have the name of the newsletter?

I know harleys*? (hartleys whatever its called) has it on their list, but over a mil pumped into it seems a bit much for a newsletter.

I'm unconvinced this break is sustainable, but hey looks good on paper.

 

[Dukey]

Is that an assumption or do you have the name of the newsletter?

I know harleys*? (hartleys whatever its called) has it on their list, but over a mil pumped into it seems a bit much for a newsletter.

I'm unconvinced this break is sustainable, but hey looks good on paper.

just realising some underlying value IMO - BUL was very slow to get holes in the ground for a long time but they seem to be getting their act together to prove up some resources and with every CSG company i've seen so far ...more drilling = more resources = more market interest = higher SP.

They all go up and down, but breaking back up through 20c and remaining there is an important step.

 

[vincent191]

Don't know the name of the newsletter, someone tried to post it on another forum but got taken down by the forum moderator. Just look at Commsec and you will see the extra-ordinary "funny" buy queue.

 

[vincent191]

For those newbies with an interest in BUL....do some research on the bundle of shares held by ANZ.

Those shares were originally (years ago) held by a number of investors (lawyers I think??) who had so much faith in BUL they took up margin loans to purchase millions of them. Then the sharemarket collapsed and the broker went bust and the investor couldn't meet their margin call and ANZ seized all their shares including very large parcels of BUL shares.

The current dispute the lawyers claimed ANZ should not have or did not have the rights to seize those shares and had obtained an injunction to prevent ANZ of selling them.

The above is my recollection of events as reported in the media. DYOR.