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BYE - Byron Energy

Joined
27 June 2010
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Trojan Equity Limited (TJN) is an investment company with primary investment in undervalued asset situations where there is a likely catalyst for the discount to valuation to be reduced or removed. Trojan Equity is managed by Trojan Investment Management Pty Ltd, a niche investment manager based in Brisbane.

http://www.trojanequity.com.au
 
Re: TJN - Trojan Equity

trojan has a fair holding in buru..

worth watching this one as buru itself has a lot of opportunities in the canning

imho they did their level best in the gfc and have got opportunity left in their portfolio
 
Re: TJN - Trojan Equity

Agent,
Trojan had substantial holdings in ARC Energy aswell and ADI at one stage. Trojan is basically run by Troy Harry who is normally a pretty conservative investor.
 
On May 28th, 2013, Trojan Equity Limited (TJN) changed its name to Byron Energy Limited (BYE).
 
Operations Update:-

Byron Energy Limited (“Byron or the Company”) is pleased to report that on 14 February 2014 the Bureau of Safety and Environmental Enforcement (“BSEE”) granted final approval for Byron to drill the Byron Energy SM6 #1 well (“SM6 #1”). On 15 February 2014 Byron completed installation of a seven slot caisson (266 feet in length and 72 inches in diameter) for use at SM6 #1. The caisson was set prior.....

The rest of the report can be read here:- http://stocknessmonster.com/news-item?S=BYE&E=ASX&N=782645

 
Byron Energy bouncing all over the place recently. Up and down like a yo-yo. Where this one heads next appears to be anyone's guess.

 
I took my eye off the ball and missed Byron Energy move from around 8.5c to a high of 45c between September 2017 and late March 2018. However, during the next five and a half months the BYE share price declined slowly to around 27c.

Today it saw a nice jump to 35.5c, up 26.79% from yesterday's close of 28c, after the company announced that Metgasco Limited has issued a notice of election to convert A$1 million of its outstanding A$4 million of Convertible Notes into Byron Energy ordinary shares.

On 25 August the company commenced drilling operations on the first test well in the Bivouac Peak Prospect Area, the Byron operated Weiss-Adler, et. al. No. 1 well in the southern Louisiana Gulf Coast. The well is being drilled to 18,000 ft True Vertical Depth and is expected to take 75 days to drill, so it is expected that it will be complete by 8 November. News should follow shortly after that.

 
Byron Energy down 17.5% to 23.5c today after the company announced that the SM74 D14 BP1 exploration well has only hit wet sand after being drilled to 14,933 feet measured depth and 13,591 feet true vertical depth. The well has been deemed uncommercial and plug and abandon operations have begun.

Disappointing news for the company and BYE shareholders.
 

Certainly been a Roller Coaster …….. I don't dabble in Oilers any more for that reason … no good for the blood pressure
 
The recent price of trading above $50/bbl seems to have lifted the oil/gas sector. Lots more oil/gas stocks popping up in my scan results.

BYE was one of them. Today's price action is a BO-HR. I have short term aspirations only with oilers.

 
BYE has been scraping along the bottom at 10c for a couple of months now with what looks to be quite a bit of accumulation. It doesn't seem to want to go below that level. Today it has decided to head north, and is currently trading at 13.5c.

Is the bottom in for BYE? No news since 5 August, but something is up.

 
BYE announcement..

"Drilling Program & Current Production Update"

Enterprise Offshore Drilling 264 jack-up rig is on schedule for an early to mid-April commencement of drilling of the SM58 G3 and G5 wells

Permits for the drilling of the SM58 G3 and G5 wells are now approved by BSEE

Byron is in final discussions with EOD for a January 2023 three well drilling program

US$11 million prepayment agreement with supermajor executed

Current Byron net daily production from all wells is 1,680 barrels of oil per day & approximatley 4.7 million cubic feet of gas per day

*refer to ASX release for more information
 
Director added/bought another 50,000 shares to his 57.25M holding in trust account
 
Oil price shot up +7.1% overnight to US $101 so more cash flow $$ for BYE
 
When you roll a dice in the morning between BYE and CVN..and put an order in CVN which promptly collapsed today?
 
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