BOW - Bow Energy

[littlebuffet]

hi there 1st post on this site but not a new investor, i have been averaging up on BOW for the last 2years, my average is just over 50c and i will still be buying whilst they are under the last spp offer, the thing is to accumulate while the sector is down , i also hold AOE and ESG, and have been doing the same thing with these stocks. With aoe's FID in late june the sector will fire up again and with bow's power generation plant and reserve upgrades this year [52 new holes to be drilled] we will see 100% gains coming from this stock within the next 12mths. support seems to at around 80c but can not see it dropping 30% again unless world markets take a nose dive... in saying that im bullish on gas and csm for 2010 and beyond. LB.

 

[Dukey]

Amazing what a little t/o action can do - whole CSG sector jumping this morning - but BOW is the pick so far (while AOE is not yet trading).

BOW up about 18% at this stage!

 

[SuperGlue]

http://www.smh.com.au/business/arrow-bid-points-to-more-mergers-in-the-sector-20100308-prld.html

"Arrow’s project was always going to attract interest given, unlike some of the bigger players in the Queensland LNG space, it does not have enough reserves to warrant a large scale operation complete with its own processing plant."

Guess which company made an annoucement today in increase of reserves? BOW


Pls DYOR

 

[Dukey]

http://www.smh.com.au/business/arrow-bid-points-to-more-mergers-in-the-sector-20100308-prld.html

"Arrow’s project was always going to attract interest given, unlike some of the bigger players in the Queensland LNG space, it does not have enough reserves to warrant a large scale operation complete with its own processing plant."

Guess which company made an annoucement today in increase of reserves? BOW


Pls DYOR

they certainly picked a good day for that reserves upgrade - 3P reserves up 60%!
Add to that the 30MW blackwater power plant on schedule - and all looking good for BOW.... i hope they can escape the takeover action for as long as possible to realise the value of their gas tenements.

 

[grace]

they certainly picked a good day for that reserves upgrade - 3P reserves up 60%!
Add to that the 30MW blackwater power plant on schedule - and all looking good for BOW.... i hope they can escape the takeover action for as long as possible to realise the value of their gas tenements.

Finally started buying into this one. Didn't quite get it under a $, but still love the potential here.

At $1.20 x 239 mill on issue
= $287 mill market cap
divide by 2318 of 3P
= $0.12mill per PJ of 3P

Recent takover Santos on ESG reserves was $0.66mill per PJ of 3P.
Plenty of upside here for the faithful. or 5.5 times what BOW is currently trading at.

 

[roland]

As we all know, BOW just broke through the old support level at $1.26.

Would it be prudent to assume that $1.26 will once again be our support? Maybe someone with some charting expertise would like to comment.

 

[SuperGlue]

"LNG Ltd says it is considering sourcing gas for the proposed Fisherman's Landing project in Queensland from providers other than Arrow Energy."

http://www.theaustralian.com.au/bus...s-supply-options/story-e6frg9ef-1225841243189


There are not many other CSG co. left - BOW, BUL, ICN....

Unless of course ORG, STO & BG have excess......

Then Arrow/Shell/Petrochina won't have sufficient gas & also there is the potential of ESG & MEL to pipe gas up north.


Just my 2cent thought .....Pls DYOR

 

[littlebuffet]

Just my 2cent thought .....Pls DYOR[/QUOTE]

we cant discount MPO for the lng f/landing project i think they hav upgraded their 2p a few days ago and will be updating all this year..but i would prefer BOW to be the suiter and you would think AOE board being on BOW it would be the perfect match for the f/landing project. the intial 1.5mil tonne p/a should be do-able for them. LB

 

[Boognish]

Some news from BOW:

Norwich Park Drilling ‐ first well intersects over 50 metres of gassy coals
The Directors of Bow Energy Ltd (ASX:BOW) are pleased to provide a progress report on the drilling program currently underway in the Norwich Park block (ATP 1031) located approximately 300 km north‐west of Gladstone, Queensland.

Bow has completed the first core hole of an initial seven well 3P and 2P reserves delineation drilling program on the Norwich Park block located immediately south of Arrow Energy’s primary Bowen Basin project areas to be carried out over the course of calendar 2010. The primary targets are the Fort Cooper, Rangal and Moranbah Coal Measures similar to Arrow/AGL’s CSG Projects.

http://imagesignal.comsec.com.au/asxdata/20100413/pdf/01054419.pdf

I happily hold a couple of small BOW parcels.

 

[grace]

I happily hold a couple of small BOW parcels.

Good on you. I hold quite a few parcels too.

The drill core at 50metres of gassy coal - bubbling gas at surface is fantastic news indeed, in a new area. Can't fault BOW at the moment, and that is why it is my preferred CSG stock at present.

Just hope we don't get a takeover offer for a couple of years yet! I'm happy to enjoy the ride on this one.

Anyone got any contingent reserves figures? I'll go check it out too.

 

[grace]

I could not help myself yesterday morning, and added a few more Bow while others were pleased to part with theirs.

Recent announcements of Norwich Park core hole reporting 77 metres of gassy coal - the largest hit ever in the Bowen Basin made me very excited.

Targets of PJ of 3P also upgraded to

2010 4128 PJ

2011 6200 PJ

Whilst Rudd continues to dampen the csg market, I think I'll just keep buying. All of that gas in the ground will be attractive to someone one day.

 

[basilio]

Big wrap for BOW today. Added up all the reserves, options ect and gave a very strong picture of the company.

Check it out

Ferret's stock to watch


Bow Energy Ltd (ASX:BOW) yesterday confirmed press speculation regarding a potential transaction with Liquefied Natural Gas Ltd (ASX:LNG) with respect to LNG's Fisherman's Landing LNG project in Gladstone.

Bow said that discussions with LNG relating to a number of commercial arrangements are ongoing that may or may not lead to a binding agreement.

In its June quarter report, Bow Energy increased its end-of-2010 3P gas reserve target by 50 per cent from 2,750 PJ to 4,130 PJ and set end-of-2011 gas reserve targets of 6,200 PJ for 3P and 1,250 PJ for 2P.

A further 435 PJ of 2C resource was certified in the Rangal and Burngrove Coal Measures.

Drilling success at Norwich Park indicates a large gas field potential.
http://news.theage.com.au/breaking-news-business/ferrets-stock-to-watch-20100803-113x0.html

 

[FNQTrader]

So was the blip today general market jitters (market was down generally) or did the story about ground water chemicals at other CSG operations put doubt into the market's mind

 

[dandyjac]

This should help the coal seem gas companys out on monday

http://www.smh.com.au/business/coal-seam-gas-projects-given-go-ahead-20101022-16xk0.html

 

[grace]

This should help the coal seem gas companys out on monday

http://www.smh.com.au/business/coal-seam-gas-projects-given-go-ahead-20101022-16xk0.html

Yes, I noticed the news too. I think the market should take the news positively although the conditions might be pretty onerous. Rightly so though. Playing around with groundwater has many dangers.

 

[grace]

BOW is creeping up a bit based on BG's news.

I can't see this one lasting too much longer without a takeover offer. Just my thoughts though. It really is the last decent csg stock still standing in QLD.

BOW got a good wrap from Dornbusch Partners on ABC radio southern qld on Saturday morning last, with one of the advisors saying that a valuation had been given on BOW of over $2 by one of the brokers - did not mention which broker though.

 

[SilverRanger]

A trading halt and cap raising today, does anyone know for those who have taken their last SPP in 2009 whether they will be eligible for this one?

 

[grace]

A trading halt and cap raising today, does anyone know for those who have taken their last SPP in 2009 whether they will be eligible for this one?

All shareholders will be eligible (if you own shares at a certain date - they will forward this information shortly).

Issue price is at $1.15 with a max of $15000 for a maximum of $30 mill. I should think then that scaling back will occur if oversubscribed.

 

[SilverRanger]

All shareholders will be eligible (if you own shares at a certain date - they will forward this information shortly).

Issue price is at $1.15 with a max of $15000 for a maximum of $30 mill. I should think then that scaling back will occur if oversubscribed.

I guess this is where I am coming from:
The "no more than 15k in 12 months rule" - RG 125.15 in
http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg125a.pdf/$file/rg125a.pdf

 

[oldblue]

I guess this is where I am coming from:
The "no more than 15k in 12 months rule" - RG 125.15 in
http://www.asic.gov.au/asic/pdflib.nsf/LookupByFileName/rg125a.pdf/$file/rg125a.pdf

Fair point, SR.

The relevant dates last year were;

Record date 19 November 2009

Offer opened 24 November 2009

Offer closed 11 December 2009

The only dates announced for the current issue are

Record date 10 November, 2010

Allotment date expected to be December 2010..

On the face of it, it does seem that last year's SPP will be taken into account in calculating the $15,000, twelve month period limit.

If so, the question is - Why would BOW directors (intentionally?) limit some shareholders' participation in this way?



Edit. A more careful reading of the announcement shows that Allotment date is "December 2010", not a specific date. The question therefore becomes which of the various dates - record, opening, closing, allotment - is relevant in determining the 12 month period?