BRK - Brookside Energy

[growing]

Re: RFE - Red Fork Energy

Looks like someone is slowly (very slowly) trying to accumulate some stock in RFE. Today i noticed Buy orders executed at market price every 5 to 10 minutes for around 90 to 100 shares at a time. This went on most of the day today. Would be interesting to see who the buyer is.

Here is a snapshot of some of todays trades for RFE:

Thanks for that post, interesting also, there is a JULY 2009 broker report on RFE's Site from "CHESS CAPITAL PARTNERS" stating the following:

BUY – 12 month target: A$3.20 ‐ $3.50 per share

And with their recent anouncement increasing their yearly income from $3mil to $4mil and an expansion program encompassing 20 wells - all funded from their existing revenue on 100% owned land - I think I might Hold

 

[growing]

Re: RFE - Red Fork Energy

Price of oil goes down, this share goes down but still more to buy than to sell ..

As soon as someone wants any kind of bulk lot of this stock, the price goes up ... I like the way this stock trades, full of smart people who are in no hurry to sell

Not a lot to sell until the $1.32 mark ...




49 buyers for 682,176 units 33 sellers for 384,818 units

 

[growing]

Re: RFE - Red Fork Energy

I noticed today, the EPS for this stock used to say 17 cps for 2009 in my commsec research section -- now it simply says Nothing -- it's gone???

Why would it be simply removed?

There was an earlier post on this thread from JTLP who said EPS can change .. but can they just remove all trace of it?

 

[growing]

Re: RFE - Red Fork Energy

I noticed today, the EPS for this stock used to say 17 cps for 2009 in my commsec research section -- now it simply says Nothing -- it's gone???

Why would it be simply removed?

There was an earlier post on this thread from JTLP who said EPS can change .. but can they just remove all trace of it?

Correction -- 17cps in 2010 -- I couldn't figure out how to edit my post above (sorry I am new)
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[growing]

Re: RFE - Red Fork Energy

Redfork is having another good run after today up 7.3% ...

$1.39 with not many sellers at all. Nothing for sale after $1.80 on my Commsec screen

Reading earlier posts on this thread, there were discussions about the stock at around the 48 cent mark

Not a bad return for those who bought at that price

 

[growing]

Re: RFE - Red Fork Energy

Wow, I seem to be the only person commenting on this stock ??

Hit $1.50 today! Price of oil has climbed this week on hopes of global recovery but also on the back of China's inventory reported to be relatively low ..

Happy days for Red Fork

 

[growing]

TRADING HALT

Redfork in a TRADING HALT pending an announcement on a "Material Acquisition"

What could they be acquiring at this early time in development ???

 

[ands]

Re: RFE - Red Fork Energy

The price of Oil and Gas has fallen in the last week or so and has been having an effect on the RFE share price. Will be interesting to see what this acquisition is... more acreage?

 

[growing]

Re: RFE - Red Fork Energy

The price of Oil and Gas has fallen in the last week or so and has been having an effect on the RFE share price. Will be interesting to see what this acquisition is... more acreage?

Hmmm yes, well that would be a good acquisition for them me thinks .. They have asked for a 7 day extension today ... oooo the suspense

 

[growing]

Re: RFE - Red Fork Energy

AOK is on a trading halt for the same reason as RFE ?? "Material Acquisition" - AOK is another Aussie company in the U.S going for Oil in previously known U.S oil zones ...

Coincidence ??

 

[ands]

Re: RFE - Red Fork Energy

AOK is on a trading halt for the same reason as RFE ?? "Material Acquisition" - AOK is another Aussie company in the U.S going for Oil in previously known U.S oil zones ...

Coincidence ??

It also mentions a funding arrangement... If there is any connection between the trading halts, it sounds like RFE will inject funds into a Joint Venture with AOK. Hopefully find out in the next week!

 

[Zird]

Re: RFE - Red Fork Energy

Commsec state that the top 20 s/holders own 69% of shares. Somebody might know what effect this has? Hoping for great news.

 

[growing]

Re: RFE - Red Fork Energy

Commsec state that the top 20 s/holders own 69% of shares. Somebody might know what effect this has? Hoping for great news.

Hmmmm well the news is in!!! 20Million fresh RFE shares raises capital at $1.20 per share (a dilution to existing shareholders) however the new capital allows them to double their acerage (albeit through Joint Venture arrangements) and speed up cash flow development by drilling new wells which will be completed by the end of the year !!!! Very fast, which should hopefully boost the share price quite quickly

The news was taken well with the share price rising to $1.46 but dropping back again to $1.35 at close of trade

Market Cap now at 148 Million $$ which I think will look too cheap in the short term provided their drilling results meet market expectations

 

[prawn_86]

Re: RFE - Red Fork Energy

Market Cap now at 148 Million $$ which I think will look too cheap in the short term provided their drilling results meet market expectations

$150 mill. Do they have any cashflow at the moment? Or is it based purely on speculation? What's their cash position?

 

[ands]

Re: RFE - Red Fork Energy

This broker report will give you a low down. The first time I saw this stock a broker was recommending it at about 21c, I only bought at $1.25...

http://www.redforkenergy.com.au/documents/RFE 20090707_WestTulsa.pdf

 

[prawn_86]

Re: RFE - Red Fork Energy

This broker report will give you a low down. The first time I saw this stock a broker was recommending it at about 21c, I only bought at $1.25...

http://www.redforkenergy.com.au/documents/RFE 20090707_WestTulsa.pdf

Thanks.

To be honest it actually seems very pricey to me, just on some quick calculations.

Currently producing 85bopd.
Profit of say $70 on those barrels equates to $6k per day which equals 2.2m per year profit.

2.2mill divided by 117m shares on issue gives EPS of .018c. So PE at the moment is a whopping 72!

There would want to be some huge upside in their drilling campaign, and i mean absolutely huge. I have not looked at the targets or anything like that, but my quick calcs show me i would rather employ my spec cash elsewhere.

I dont see how Chess Capital came up with that valuation...

 

[ands]

Re: RFE - Red Fork Energy

The thing about Red Fork is that it does have huge potential. That revenue is from 2 wells, they have identified a further 20 well locations. This is over 50,000 acres in East Oklahoma, USA, which they currently hold a 100% interest. They just doubled their holding in East Oklahoma today with another 60,000 acres under a JV (RFE carries a 25% interest). They are debt free and development will be funded with current cash reserves.

 

[prawn_86]

Re: RFE - Red Fork Energy

The thing about Red Fork is that it does have huge potential. That revenue is from 2 wells, they have identified a further 20 well locations. This is over 50,000 acres in East Oklahoma, USA, which they currently hold a 100% interest. They just doubled their holding in East Oklahoma today with another 60,000 acres under a JV (RFE carries a 25% interest). They are debt free and development will be funded with current cash reserves.

Even if all 20 wells are successfull and flow at the same rate (40bopd) as the current ones, EPS will be 19c which equates to a PE of 6.8, which is about right for small cap oilers.

Im not saying that money cant be made from this, who knows what the trend will do, but from a fundy perspective it appears the market is already pricing in success at every well.

IMO there are much better small cap oil and gas plays that have good cashflow.

 

[Candolini]

Re: RFE - Red Fork Energy

Prawn, you appear to have excluded from your calculations their biggest project in East Oklahoma where they plan to drill up to 600 wells (gas) over the next 5-10 years (10 to be completed by the end of this year) and they have direct access to the sales line. This was before their announcement last week about the JV on the further 60,000 acres where they plan to have 10 wells drilled by the end of this year.

The future potential of RFE is in the billions not millions.

 

[YOUNG_TRADER]

Re: RFE - Red Fork Energy

20c to $1.50+ wow what a run

and here I was thinking all the US companies were duds

RFE look like a CBM/CSG play as well as its traditional gas/oil prospects