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DLS - Drillsearch Energy

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mr. jeff said:
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I had a great exit at what I thought was the climax, but it has kept on going! When will it end?! At least I got out without watching my profits get away!

I just can't see this move continuing in this way. Surely the tide will turn.
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Good trade, but not sure why you would sell on an up day with such a high volume spike and highish close. Usually means it has at least one good leg up to go.

Maybe this was it. Two days of reversing.

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The second day of reversing in detail:

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A trader would probably exit if it opened lower Monday.
If it opens higher there would still be a chance of another leg.
Hard to believe!
 
Exit proved to be wrong. Have re-entered on the 14 th Feb and will see how the run shapes up.

not much to exit on 20-02-2012 9-05-25 AM.png

I exited as I thought there might be a short term pullback / consolidation and due to the last 6 months giving us rallies and pullbacks, try to take profit then wait for the next move. Wrong this time, but have re-entered at close to the same level and sitting in profit again.

That volume spike I thought might signal a selling climax. Not so.
 
Capital raising for it's suck hole major holders at $1.02. Should not have cashed in my short at 1.20 way back when.
 
DLS reached the expected target area, sold today, many new opportunities at the moment.

This will run again soon imo but for now we part ways :xyxthumbs

(click to expand)
 

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Drillsearch Completes Purchase of Acer, Enlarges Cooper Basin Footprint
by Quintella Koh
|
Rigzone Staff
|
Friday, January 11, 2013
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Drillsearch Energy disclosed Friday that it "now holds the largest discovered, uncommitted conventional gas resource in the prolific Cooper Basin outside of the Cooper Basin Joint Venture partners", following the completion of its compulsory acquisition of Acer Energy.

In a statement, Drillsearch said that former Acer shareholders whose shares were acquired under the compulsory acquisition process have been posted a claim form to finalize payment of the consideration owed to them.

Drillsearch on Oct.25 last year offered to purchase Acer’s shares at 28.5 Australian cents per Acer share. Drillsearch’s offer – which placed Acer’s value $137.1 million (AUD 132.3 million) – was accepted by the latter’s shareholders.

Drillsearch is an oil and gas explorer and producer focused on the highly-prospective onshore Cooper-Eromanga Basin. Acer has oil and gas exploration plays in the same area, as well as the Bass Basin.
 
http://www.proactiveinvestors.com.a...oubles-cooper-basin-oil-production-44936.html
Drillsearch Energy www.drillsearch.com.au

Drillsearch Energy (ASX: DLS) is primarily focused on the Cooper-Eromanga Basins in Australia.

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Drillsearch Energy doubles Cooper Basin oil production
Thursday, June 27, 2013 by Bevis Yeo

Drillsearch Energy doubles Cooper Basin oil production

Drillsearch Energy (ASX: DLS) has nearly doubled oil production from the PEL 91 Joint Venture in the Cooper Basin since the Bauer-to-Lycium export pipeline was commissioned in late April 2013.

For the week of 17 June 2013, gross daily production and export from PEL 91 averaged 10,300 barrels per day of oil, or 6,180bpd net to Drillsearch.

This compares to the company’s net oil production of 3,200bpd from the permit at the time of the pipeline’s commissioning.

Drillsearch added that at this current rate, it is on track to confirm its oil production exit forecast to 30 June 2013 of about 6,000bpd.

The company holds a 60% interest in PEL 91 while operator Beach Energy (ASX: BPT) holds 40%.



Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.
 
Broke out on pretty great news, then reversed pretty hard.
Still some deep pocket sellers above that 1.50 mark.
Watching to see if they exhaust themselves this time.
 
If reports are anything to go by then this extract from today's report seems impressive imo.
 

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Oil price is stable and oilers have been getting a relief rally.
Yet given US supply capabilities and dramatic drop in China consumption gains, fundamentals have changed and this bounce is worth looking at shorting. The relief that oil isn't going to have a 3 in front of it, like the idiots on TV have been predicting, will be short lived.
If it stays a while when reporting season comes smaller time oilers will be slaughtered.
 
On March 2nd, 2016, Drillsearch Energy Limited (DLS) was removed from the ASX's official list in accordance with Listing Rule 17.11, following implementation of the scheme of arrangement pursuant to which Beach Energy Limited acquired all of the issued shares in the Company.
 
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