BUY - Bounty Oil

Good news today crew from MMR funding for PEP11 firming up Bounty should ANN same monday so i wouldnt be suprised with another leg for BUY on monday i took a few more on board today on the back of it

Bounty's big energy
PURE SPECULATION: Robin Bromby | August 17, 2009
Article from: The Australian
http://www.theaustralian.news.com.au/business/story/0,28124,25937534-18261,00.html

ONE of the constants of living under the shadow of Pure Speculation is what the Americans call Monday morning quarterbacking, and in our case this involves being told -- usually in no uncertain terms -- where we got the wrong end of the stick.

Don't misunderstand; we are thrilled to know that someone out there is reading this every week (and especially those who, rather than part with $1.50 for a copy of the paper, email in outrage that the column is late being posted on the website).

Three years ago, when this column had just begun -- yes, we know, it seems longer, much longer -- one of the earliest such Monday morning emails was to take Pure Speculation to task for publishing an item about a history of oil slicks being sighted off the NSW coast from Newcastle.

We said that Bounty Oil & Gas (BUY), which held the exploration licence for that offshore area, believed this was a big lead, that the slicks were caused by natural seepage from the seabed. The licence area had been dropped in the early 1990s by Santos (STO), which, although it had found some gas, was too heavily focused on the Cooper Basin at that time.

Nonsense, came the emails. Those slicks were more likely from ships discharging oil into the sea. And there the matter rested.

Bounty is now in joint venture with unlisted Advent Energy, which is controlled by listed pooled development fund MEC Resources (MMR). Now the quest for (mainly) gas but also some oil off this part of the NSW coastline is getting serious. And Queensland coal multi-millionaire Ken Talbot, through his private investment company, has taken a 10 per slice of Advent.

MEC believes there could be more than 16 trillion cubic feet of gas and has started on the road to raising serious money by mandating Pareto Securities of Norway as the lead broker for Advent's capital raising. Advent has the stake in the project as MEC's fund status (free of capital gains and dividend taxes) prevents it from operating a business.

Pareto has raised some very big money for clients in recent years, and big sums will be needed given that the MMR-BUY permit covers 8100sqkm. Good timing, too, with the cost of drill rig hires being about half what it was a few years ago.

Seems like there's more to this story than just a couple of bulk carriers discharging from their bunkers.

Currently sitting pretty at 6.0c after todays announcement re PEP11 funding.

I'm free carrying BUY now so any upside will be gladly taken!

Really surprised there's not much talk on this volume is ridiculous!

Was a no brainer at 3c hope other took the punt too

I know you did Jay lol

YOUNG_TRADER said:

Really surprised there's not much talk on this volume is ridiculous!

Was a no brainer at 3c hope other took the punt too

I know you did Jay lol

Click to expand...

I certainly did! Unfortunately couldn't get in bang on 3c but a profit is still a profit!

Very tempted to offload my final parcel and lock in the profit, but will hold and see what September brings.

Congrats to all the folks that held on . I, unfortunately, offloaded at the 5c mark and missed out on a nice 40%!. Did you guys notice MMR SP today? damn....up 160% almost despite 6m volume. Ridiculous .

looking at Bounty today, i'm new to this, why has there been a massive jump in volume and price?! The price has opened at .47 and has risen to .80, change of 67%.

normanstyles said:

looking at Bounty today, i'm new to this, why has there been a massive jump in volume and price?! The price has opened at .47 and has risen to .80, change of 67%.

Click to expand...

My advice would be to read the announcements that the company has released over the last few days - they are the reason for the movement in the sp.

Use the search function as much as you can on here, plenty of stuff to learn from some pretty experienced guys!

wtang89 said:

Congrats to all the folks that held on . I, unfortunately, offloaded at the 5c mark and missed out on a nice 40%!. Did you guys notice MMR SP today? damn....up 160% almost despite 6m volume. Ridiculous .

Click to expand...

I noticed! After buying a parcel of BUY @ 4.5c last Tuesday I then got a parcel of MMR @ 11.5c on Wednesday after doing some research and noticing it was down 8% for the day. Currently up over 200% for MMR

Haha nice work there lee. I am thinking that the recent rally by BUY seems a bit too optimistic...would be interesting to see if there will be a back draw tomorrow. What you guys think about BUY at 8c? think it will hold? would it continue to rally?

LeeTV said:

I noticed! After buying a parcel of BUY @ 4.5c last Tuesday I then got a parcel of MMR @ 11.5c on Wednesday after doing some research and noticing it was down 8% for the day. Currently up over 200% for MMR

Click to expand...

Hey Lee - no one believes you so please don't post like that anymore!It's really annoying. I'm sure you will post about the big market mover tomorrow as well!!

sirronron said:

Hey Lee - no one believes you so please don't post like that anymore!It's really annoying. I'm sure you will post about the big market mover tomorrow as well!!

Click to expand...

Hey sirronron get over yourself. I'm so sorry for being a little excited about some research that has finally paid off in a big way. You believe what you want to believe


Attached is an electronic contract note confirming CommSec has BOUGHT 66000 shares in BUY at $0.045000 on your behalf.

You will need Adobe Acrobat to access the contract note.

This document is automatically generated by Commonwealth Securities Limited (CommSec). Please do not reply to the message. If you have any questions, simply call us on 13 15 19 between 8am and 7pm (EST), Monday to Friday, or email shares@comsec.com.au.

Thank you for using CommSec. We look forward to serving you again in the future.

Kind regards,
Commonwealth Securities Ltd.
http://www.commsec.com.au


Attached is an electronic contract note confirming CommSec has BOUGHT 26000 shares in MMR at $0.115281 on your behalf.

You will need Adobe Acrobat to access the contract note.

This document is automatically generated by Commonwealth Securities Limited (CommSec). Please do not reply to the message. If you have any questions, simply call us on 13 15 19 between 8am and 7pm (EST), Monday to Friday, or email shares@comsec.com.au.

Thank you for using CommSec. We look forward to serving you again in the future.

Kind regards,
Commonwealth Securities Ltd.
http://www.commsec.com.au

lol ignore people like him Lee; he is just venting because he missed out on a massive spike. Although i must say if BUY spikes anymore, i might need to vent as well.

wtang89 said:

lol ignore people like him Lee; he is just venting because he missed out on a massive spike. Although i must say if BUY spikes anymore, i might need to vent as well.

Click to expand...

Lee has provided broker statements showing his purchases. What more do you want?

Now please lets all get back on track discussing the stock and why it is moving, as opposed to just price commentary. Any further off topic posts will be removed.

YOUNG_TRADER said:

BUY is a stock that caught my attention last week after a volume spike

The company appears to have many oil and gas projects on the go

Utopia it is producing small amounts of oil and gas and aims to increase production to take advantage of its high margins here

Surat/Qld the company has a large land holding with many 5M barrel + oil targets


WA Onshore company has a free carried interest in some small to medium sized oil and gas targets


Nyuni the company made a gas discovery with KEY petroluem (5% BUY 20% KEY) last year I'm not sure what this is worth but they estimate it may contain as much as 1TCF of gas


WA Offshore now we get to the more sexy company making assets
has 2 permits with large high impact oil and gas targets, same sort of area that KAR and MEO operate in

PEL 218 A very interesting oil and gas permit with good CSG potential, BUY has a 23% interest in smack bang in the middle of INP's CSG field to the North where AGL have farmed in for 35% by paying $25m, also to the south lies STX's 66.7% owned CSG prospect where they estimate there to be 8-20TCF CSG
Elephant ground in terms of CSG

Also with their other Qld projects surely given the widespread occurances of CSG/UCG throughout QLD some of BUY's permits which are near and next door to known CSG fields will have CSG potential?


PEP 11 This could be a real company maker, BUY have a 15% free carried interest here and the permit could hold up to 16TCF which if proven has an NPV of $12B+ according to company reports and estimates



The company has alot of projects with good sexy upside and I like it

DYOR

Click to expand...

Having bought a few million around the 3's this stock is really paying off

New presentation out with the key part


"If the well is a commercial success BUY estimates an Increase in its Enterprise Value (IEV) of $2.75/share"

YOUNG_TRADER said:

Having bought a few million around the 3's this stock is really paying off

New presentation out with the key part


"If the well is a commercial success BUY estimates an Increase in its Enterprise Value (IEV) of $2.75/share"

Click to expand...

I thought you sold out around the 5c mark YT? You keep some skin in the game?

I'm the same..... in hingsight I wish I had kept it all in - some you win big, some you win real big! (and some you lose)

Good luck to all who hold!

When I load up and buy millions I sell a few on the way up to take profits but always keep some skin in the game


This little beauty has taken my net wealth back above pre GFC crash days!

Any chart views out there?

Young T,
I said it before...
you are a freak.....
I saw BUY and said it here at 2c but never mustered up the balls to take it on..... and yet again you hit the ground running...
you homer it every time, like no other....
LKO.... BUY of late....
young and rich...
yep...
must be...

Young T: BUY and MMR - great stuff. Along with BLY, certainly helps to overcome GFC blues. Assuming both spikes are due to PEP11 activity, my only advice is to look at the ratio MMR:BUY SP, given the minor BUY interest in PEP11 and the number of shares in BUY vs MMR. Either BUY is overpriced or MMR is undervalued, even though they've increased around the same % recently. I hope it translates to further SP increases in MMR and MMRO, but something to keep your eye on. Best wishes with PEP11

MMR is undervalued imo. Keep your eye on Grandbridge too(GBA). GBA holds 7 million MMR plus 7million MMRO.