- Joined
- 30 January 2005
- Posts
- 374
- Reactions
- 1
First two targets drilled and no oil. What are the chances now?
BUY - Bounty Oil
- Thread starter Profitseeker
- Start date
-
- Tags
- bounty oil buy
Profitseeker said:
Hi profitseeker,
Market reacted negatively on today's news. Share plummeted to 0.064. It's only the first stage. The joint venture will continue drilling until they reach the target depth. The update next week will be the make or break announcement. Expect a trading halt next week prior to anouncement.
Are you still holding shares on BUY?
Cheers!
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Yes etrader,
News was on time, but the sentiment was not as expected.
Sometimes, that happens ..... but, at least we knew WHEN
to be looking for the news, which kept us alert.
NOTHING has changed with the rest of the anlaysis.
So, let's see how the rest of it pans out .....
happy trading
yogi
- Joined
- 30 January 2005
- Posts
- 374
- Reactions
- 1
Yes i am holding. I thought they held the most chance of finding oil in the primary target though.
doctorj
Hatchet Moderator
- Joined
- 3 January 2005
- Posts
- 3,271
- Reactions
- 8
It's unlikely that any hydrocarbons they find in the last 200m of drilling would be commercial. In all likelihood they're continuing drilling to find evidence of hydrocarbon migration to help identify future targets.
The only chance of commercial oil is a freakish seal in the lower Plover formation. Finding oil where you don't expect it isn't entirely unheard of; ARQ hit an oil horizon in a layer they weren't expecting it in the Perth Basin quite recently.
It'll be interesting to see how much the likely failure in the lower section is already factored into the SP of participants. 6 seems logical support for BUY, 10 for NWE, 24 for ADI and AWE is anyone's guess.
Good prospects in plenty of other oilers at the moment.
The only chance of commercial oil is a freakish seal in the lower Plover formation. Finding oil where you don't expect it isn't entirely unheard of; ARQ hit an oil horizon in a layer they weren't expecting it in the Perth Basin quite recently.
It'll be interesting to see how much the likely failure in the lower section is already factored into the SP of participants. 6 seems logical support for BUY, 10 for NWE, 24 for ADI and AWE is anyone's guess.
Good prospects in plenty of other oilers at the moment.
- Joined
- 30 January 2005
- Posts
- 374
- Reactions
- 1
etrader1 said:
SOld. CEO failed to say anything exciting after the bad news. If he had said anything upbeat i may not of.
- Joined
- 30 January 2005
- Posts
- 374
- Reactions
- 1
My opinion exactly.
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Hi folks,
BUY ..... off its confirmed lows now,
with some positive news expected,
about 01052006 .....
For a longer-term view, see attached
BUY chart, below.
Technically, shooting for an exit target,
around 13.5 on 13042007.
happy days
yogi
- Joined
- 30 January 2005
- Posts
- 374
- Reactions
- 1
Wouldn't touch this again with a barge pole. The management is crazy.
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Hi folks,
BUY ..... announced a small farmin to take a stake in
Dune-1 well, spudding this week, with EGO as operator ...
That was enough to lift BUY off its lows, today.
happy trading
yogi
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Hi folks,
BUY ..... updated astroanalysis gives us these
key dates, ahead:
04-05092006 ..... 2 cycles here, may be negative initially,
with some finance-related news (???), but positive sentiment
should win out in flat trading .....
11092006 ..... positive news here???
20-21092006 ..... positive spotlight on BUY ...
27092006 ..... minor and negative (intraday)
28-29092006 ..... positive and finance-related cycle ???
-----
10-20 November 2006 should be a very positive
trading period for BUY ...
happy trading
yogi
- Joined
- 6 November 2005
- Posts
- 915
- Reactions
- 0
Hi folks,
BUY ..... up more than 50% today, as Fontaine pulls a
rabbit out of the hat .....
Looking for a strong rally ...10-20112006 ???
happy days
yogi
P.S. ..... holding BUY, again.
=====
- Joined
- 5 June 2007
- Posts
- 1,045
- Reactions
- 1
Posted 04042008:
Hi folks,
BUY ..... allotment of shares from recent SPP should have been done today, so
there will likely be an announcement, early next week ...
Other time cycles ahead for BUY:
04-07042008 ... positive news expected ... finance-related???
16-17042008 ... 2 cycles here and news expected
28042008 ... minor cycle
01052008 ... significant and negative news expected
05-06052008 ... aggressive rally expected, triggered by positive cycle
16-19052008 ... negative spotlight on BUY
22-23052008 ... significant and negative news ... finances???
16-18062008 ... 2 difficult cycles = flat-to-down trading ???
27-30062008 ... significant and negative cycle expected here.
July 2008 may well be a positive month for BUY ...
More later .....
have a great weekend
paul
=====
- Joined
- 23 July 2008
- Posts
- 27
- Reactions
- 0
BUY - Bounty Oil & Gas
Trading at 52 week lows (current sp - 0.031)
These levels have not been seen since Nov. 06, and when they were, it launched to highs of 5c+ peaking higher still.
Chaikin seems to be pushing out of negative territory despite RSI very obviously being belted.These signs in their nature, are the opittomy of what make a "spec stock" interesting to me.
In short, ITS NUTS OUT TIME....
Offended squirrels please forgive.
I hold a small chunk, Im sitting for now, until it gets expensive, or worse still...........I get bored! This has yet to happen.
I should also point out "fundamentals" are of little interest to me, as they are too often corrupted, in both senses of the word.
Looking for quite an unrealistic medium term hold to attain 0.06 area, then double up, dump, free carry, re enter, and ride....
But that's what they all say yeah?
lol
StockAs
Trading at 52 week lows (current sp - 0.031)
These levels have not been seen since Nov. 06, and when they were, it launched to highs of 5c+ peaking higher still.
Chaikin seems to be pushing out of negative territory despite RSI very obviously being belted.These signs in their nature, are the opittomy of what make a "spec stock" interesting to me.
In short, ITS NUTS OUT TIME....
Offended squirrels please forgive.
I hold a small chunk, Im sitting for now, until it gets expensive, or worse still...........I get bored! This has yet to happen.
I should also point out "fundamentals" are of little interest to me, as they are too often corrupted, in both senses of the word.
Looking for quite an unrealistic medium term hold to attain 0.06 area, then double up, dump, free carry, re enter, and ride....
But that's what they all say yeah?
lol
StockAs
i have been keeping a good eye on this company and decided to invest the other day as the share price didn't seem to be getting any lower. with some recent bad news coming from BUY i still have good feelings about this company and expecting to see some good numbers in the next few weeks.
prawn_86
Mod: Call me Dendrobranchiata
- Joined
- 23 May 2007
- Posts
- 6,637
- Reactions
- 7
Why do you have good feelings?
Why do you expect good numbers?
A bit of analysis is required here.
Thanks
Prawn
they released a progress report on the 8th September which i had quickly had a look over and did not like what i was reading. they had drilled to the depth of 2,886 meters with no oil that could be produced. after reading it again they do mention.
"The well will continue to drill ahead in 12 ¼” (311mm) hole to intersect the Plover sandstone which is
a producible oil and gas reservoir sand in a number of offsetting fields.
The planned total depth of the well is estimated to be 3,323 metres."
they started on the 22nd of august and has taken them 3-4 weeks to drill 2886m so within the next week they will have reached the depth of 3,323 where the 3rd and last level is. 2 out of 3 is not a good sign but as they said in one of there reports that the last level is capable of producing oil.
I am still new to this so i dont know if this means anything to anyone else but its enuff for me to jump on board. this is the first time i have posted my opinion i usualy just read everyone elses ideas and analysis so im not sure if what i have said is what people look at when thinking about investing. let me know.
ADDED: also looking at the charts. i know it shouldnt really come into it but at the moment the share price is at its lowest in years and after looking at the rise and falls everytime it goes down to around 4c it goes back up to 6-9c as StockAsArOck stated earlier. BUY at this price can only be good for people coming onboard.
regards shaun
"The well will continue to drill ahead in 12 ¼” (311mm) hole to intersect the Plover sandstone which is
a producible oil and gas reservoir sand in a number of offsetting fields.
The planned total depth of the well is estimated to be 3,323 metres."
they started on the 22nd of august and has taken them 3-4 weeks to drill 2886m so within the next week they will have reached the depth of 3,323 where the 3rd and last level is. 2 out of 3 is not a good sign but as they said in one of there reports that the last level is capable of producing oil.
I am still new to this so i dont know if this means anything to anyone else but its enuff for me to jump on board. this is the first time i have posted my opinion i usualy just read everyone elses ideas and analysis so im not sure if what i have said is what people look at when thinking about investing. let me know.
ADDED: also looking at the charts. i know it shouldnt really come into it but at the moment the share price is at its lowest in years and after looking at the rise and falls everytime it goes down to around 4c it goes back up to 6-9c as StockAsArOck stated earlier. BUY at this price can only be good for people coming onboard.
regards shaun
I can't believe how badly the BUY share price has been trashed the last few weeks! I'm not really phased if the current drilling rig off WA doesn't find anything... it was a Wildcat play and Bounty only has a 10% stake in it. Sure it'd be nice if it turned up something, but it wasn't the project that I had my eyes on. Having run some numbers on the Kilwani North gas discovery in Tanzania, this looks like it will provide bounty with a nice little income stream for future project development.
