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EGO - Empire Oil & Gas

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Re: EGO - Empire Oil

Up 25% today on no news from .012 to .015

I don't follow this stock - anyone got any knowledge and/or theories why ?
 
Re: EGO - Empire Oil

I just noticed that too.

The only announcement is just repeating what we already knew, that testing of the Stokes bay had been put off till April.

I'm guessing its just because of the price of oil as to why the sp has rocketed up.
Its still trading under its 200MA so I'm a bit hesitant to jump on, especially seen as there was no real announcement.
 
EGO - Empire Oil

I note today in the ASX top 20 most traded this coy traded 376.6 Million shares today up 92% to 2.3 cents.

Has anyone got anydata on this and why the huge volume and increase?

I am going to read up on this, but thought someone may have a heads up:confused:
 
Re: EGO - Empire Oil

LRG said:
I note today in the ASX top 20 most traded this coy traded 376.6 Million shares today up 92% to 2.3 cents.

Has anyone got anydata on this and why the huge volume and increase?

I am going to read up on this, but thought someone may have a heads up:confused:
Click to expand...

Ol` Chief say ... happy punting ground.

But seriously, blue chip, strong and profiting companies just don`t cut it like the pennies do.:D
 
Re: EGO - Empire Oil

Well well EGO is back on the boil again & in a big way.
I didnt expect to hear much from them till they restarted drilling the Stokes Bay well in April I think it was. (Im typing this on my mobile phone cuz im on holidays so cant double check that)
Im amazed that 1 simple ann about drilling in W.A could cause the sp to virtualy double in a day! I mean nothing has changed imo.I guess like Stokes Bay etc there must be alot of upside IF they do actually find anything considering its a 1c stock.
Anyway i will just sit back and watch how it goes.Its painful watching a stock climb whilst being broke:)
I think buying into a stock like EGO is about how much risk u want to expose yourself to.IF they find something there is plenty of upside, IF they dont find anything then u just have to look at their previous announcements a few months back to see the results.
 
Re: EGO - Empire Oil

interesting that reading through the last announcements about Moriary, they have encountered gas readings when they didn't expect too. they have a long way to drill to get to their target too so this could be promising perhaps? gas readings got higher with depth. will be interesting to see what is said on the next update.
 
Re: EGO - Empire Oil

Yeah I am involved in EGO with some speculative dollars. Noticed today in an announcement that they are recording gas readings of 100 ppm Methane (C1), with plenty more drilling to go in the Moriary-1, EP 426 target.

I assume this figure is not close to commercial, does anyone know what would be considered a commercial grade? I thank anyone in advance for their response.
 
Re: EGO - Empire Oil

well from my understanding the latest reading of methan of 0-300 on a chromatograph means 0-30000ppm! (1bit equals 100ppm) just wish they would specify if its a bit or ppm they are talking about. good to have daily updates though.
 
Re: EGO - Empire Oil

I dont see a whole lot of buyers rushing in with the target depth getting closer and closer.....which suprises me.

There are HEAPS more sellers than buyers at the moment.

Are the J and L sands where all the action might be?

I would have thought people would be jumping on soon incase they come up with something worthwhile:confused:
 
Re: EGO - Empire Oil

Go Nuke said:
I dont see a whole lot of buyers rushing in with the target depth getting closer and closer.....which suprises me.

There are HEAPS more sellers than buyers at the moment.

Are the J and L sands where all the action might be?

I would have thought people would be jumping on soon incase they come up with something worthwhile:confused:
Click to expand...

From what i've read, the F sands carried the goods, but all explorations are unique.

Pressure testing before entering the next 2 layers sounds positive and there is a hint of hydrocardons, but look at Stokes Bay, back for testing this month to find something, we hope.

cheers

DYOR
 
Re: EGO - Empire Oil

Is nobody excited by EGO's Moriary progress? Todays announcement made comments like "moderate oil show". Volumes moved from about 4M to circa 70M quite quickly. Day's volume circa 137M and price range 1.9 ~ 2.4 (average I think slightly above 2.2).

I would think given rate of drill progress Monday or probably Tuesday will be an interesting day...
 
Re: EGO - Empire Oil

Monday seems to be the big day, plenty of volume today as said above. I regret not topping up at .019!
 
Re: EGO - Empire Oil

Drilling Log

6.00 am at 2406m

progress for 24 hrs= 46 m

prediction for top of F sands 2446 m

6.00 am from 7 to 8th

2406+46=2452

6 metres penetration

I hope that there is a site party raging to-morrow morning :)
 
Re: EGO - Empire Oil

I hope that there is a site party raging to-morrow morning
Click to expand...

Hmmm not quite by the looks!
EGO has been dumped HARD today with what i can gather appears to be a rather ordinary report.

I'm the first to admit that i know nothing about oil, but I'm assuming that those fluroecent tests don't look so good.

Can someone with more knowledge enlighten myself and others how this process works?

Another miss for EGO.
Support at .015c now.
 
Re: EGO - Empire Oil

I think it only got dumped today as most people were anticipating a result.

Too early to call a duster or not as they are STILL TESTING! The wiper trips should be of interest hopefully in the next report.

There are brown oil staining's the report said. as for the fluorescence who knows! I cant comment on that.
 
Re: EGO - Empire Oil

A bit of lite reading if anyone is interested in finding out about fluorescence, cut and streaming tests for oil as in the latest ego announcement.

http://books.google.com.au/books?id...g=bkpUVShInaaL3E50HtpOHZ5YkFU&hl=en#PPA196,M1

http://books.google.com.au/books?id...I28EuiG&sig=VPDGDLpngfgH1-f6eKhfvpul2kA&hl=en
page 165 of second link quote " ii) lack of fluorescence is not conclusive proof of the absence of hydrocarbons. "


I had a bit of a read but would say this testing method would not be solely relied upon, hence the further testing........keep holding our breath.....
 
Re: EGO - Empire Oil

EGO chart is looking very bullish. Rising trend-line forming, and coupled with the Lake Macleod spudding this month, this one can really take-off.

IMO
 
Re: EGO - Empire Oil

Been looking into ego again, had a dabble during the moriary drilling, although didn't expect too much given the low reserve estimates. My thoughts are that this should show some action shortly - and not just because of the 150 million barrels they are targeting at Lake Mcleod - if you have a look at the schedule for this year there is more drilling for decent size targets than your dentist would be likely to see during his career (ha ha - I know I'm no comedian).

The half yearly report shows a drilling and seismic program that runs for the entire year except for June (take a breather guys).

Anyway, my opinion is that ego is set for a reasonable year, where there will be plenty of opportunity to take advanatge of well spudding - and for the more courageous some big moves if they find anything.. fingers crossed for Lake Macleod - due April 19 according to the report.

(Go Doggies - Bombers trailing them 48 - 60 at half time:D)
 

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