EGO - Empire Oil & Gas

[Datsun Disguise]

Re: EGO - Empire Oil

Looks like the interest in EGO is beginning to show, buying at .019 selling at .02 with volume of 23m shares today. The postponed testing (due to the wet season preventing mine equipment from being able to be moved aorund) of stokes bay is due to re-commence shortly and with the lake Macleod drilling scheduled for mid April (targetting 150,000,000 barrels oil) I think this is a reasonable entry point.


The spike on the chart (attached) ocurred when they announced planned drilling of the Stokes bay / Valentine well in August last year.
From that announcement>>
The Stokes Bay-1 well is planned to be drilled next from the same borehole as Valentine-1 as a deviated
2,500 metre test of the updip Point Torment gas pool. Point Torment-1, drilled in 1992, flowed gas at a
rate of 4.3 million cubic feet of gas from the Carboniferous aged Anderson Formation sandstones. ARC
considers that mapping of these Anderson Formation “gas sands” indicates that the Point Torment
Structure has the potential to trap up to 158 billion cubic feet of recoverable gas at the P10 level. Empire
has previously stated that there is similar gas potential, with the addition that Point Torment has the
potential to have up to 10.3 million barrels of recoverable oil, if oil is present in the “Unit B Sands” and the
“Deltaic Unit” of the Anderson Formation and if these sands are filled to their spill point.

With the testing of the stokes bay formation to be completed shortly according to the last half year AND the Lake Mcleod program getting legs this month my opinion is that ego could be set for some significant moves over the coming weeks.

Any other thoughts on this one floating around? Doesn't look like ego is being closely tracked on this forum?

 

[Datsun Disguise]

Re: EGO - Empire Oil

Signs of life today for ego - a decent amount of volume. In anticipation of the delayed stokes bay and lake Macloed drilling starting up shortly is my guess for the motivation. We'll see if it gets backed up tomorrow . I'm not sure if ego is 'leaky' news wise, but perhaps we have an announcement coming soon?

Anyway - bit like AIM - I'll assume I'm not talking to myself.....

 

[Go Nuke]

Re: EGO - Empire Oil

EGO is one that i watch from time to time.

Possible symmetrical triangle?

Watch for a breakout IMO.

oooh writing is a bit small. Sorry.

Just says RSI rising and symmetrical triangle formation maybe

 

[Datsun Disguise]

Re: EGO - Empire Oil

Some strong interest in EGO this morning up to 2.4c on strong volume >$100m....

Any theories in the absence of an announcement?

 

[tinkus]

Re: EGO - Empire Oil

easy its just the start of the roller coaster ride, fast start up we go....

re: Announcement its due very soon if not today.

Should go higher to low 3,s in a weeks time

cheers

tinkus

 

[Datsun Disguise]

Re: EGO - Empire Oil

easy its just the start of the roller coaster ride, fast start up we go....

re: Announcement its due very soon if not today.

Should go higher to low 3,s in a weeks time

cheers

tinkus

You know Tinkus I always loved rollercoasters as a kid, as an - alleged - adult I enjoy these ones even more!! Looking forward to the next 2 months with ego.

 

[Datsun Disguise]

Re: EGO - Empire Oil

Yesterdays acion after the announcement disappointed me a little. I saw it as postive (the annc), we have a schedule of activity on some decent sized targets over the next 2 months. The sell off was a bit unwarranted imo.

But happy to see that it's holding up well today - good to see the true believers are hanging on and new ones joining. Noted some reasonable trades - 36 over $20k and 9 above $40k. The biggest was a $75k parcel pretty much all in the 2.4-2.5c range. Volumes have been substantial all this week as well. Sooner we clear out the sellers the better!

Now - time to put my charting skills (ha ha) to the test and look to ride the coaster!

 

[Datsun Disguise]

Re: EGO - Empire Oil

Noted some reasonable trades - 36 over $20k and 9 above $40k. The biggest was a $75k parcel pretty much all in the 2.4-2.5c range.

Sorry All, my bad.

Didn't aggregate the actual trades, just the parcels going through. So assuming that the parcels that went through at the same time all belong to the same trade then the story as of a few minutes ago is.

above $20k >> 36

above $50k >> 17

above $100k >> 6

top value trade (@2.5c) >> $323,105.22

Now I feel insignificant. Glad to see some serious money hitting the table though. I missed this months stock tipping deadline, but for the record ego is my tip for June (and probably for July as well).

 

[Go Nuke]

Re: EGO - Empire Oil

Im unsure of how many shares are on issue, but if EGO hit oil OR gas in this current climate then the sp will rocket!!

There is alot of upside to this stock IF they find something.

However they have had some failures the last few times at finding anything.

The potential upside is why big money is being thrown at EGO...IMO.

 

[lioness]

Re: EGO - Empire Oil

Hi Go Nuke and Datsun,

Do you mind giving an updated chart Nuke, it looks like it's ready to break out past 2.6 and head to 3.2

The AFR gave it a write up in the charting section from Regina Meani who states it have an initial move to 6 cents then 10 cents and possibly higher.

I am not sure how the DOW collapsing will affect it though.

Finch about to spud any week now should underpin it.

 

[DavidB1]

Re: EGO - Empire Oil

it needs to close above February highs of 2.8c the next point be 0.365


going to get in when the market opens

the stock was as high as 33c in 1999

 

[lioness]

Re: EGO - Empire Oil

it needs to close above February highs of 2.8c the next point be 0.365


going to get in when the market opens

the stock was as high as 33c in 1999

David, I think you mean the next point is 0.0365 not 0.365. I wish.

As soon as the spud date is announced or spud begins, this will take off big time. They have back to back drilling of 2 big wells in the next 2 months so should be good momentum coming. My research shows there is a good chance of success here also.

Got a writeup in the AFR also by the chartist Regina Meani.

Looks to be a good show of moving higher.

 

[DavidB1]

Re: EGO - Empire Oil

David, I think you mean the next point is 0.0365 not 0.365. I wish.

As soon as the spud date is announced or spud begins, this will take off big time. They have back to back drilling of 2 big wells in the next 2 months so should be good momentum coming. My research shows there is a good chance of success here also.

Got a writeup in the AFR also by the chartist Regina Meani.

Looks to be a good show of moving higher.

yes i do wish lol sorry i was posting as i was walking out the door

i was reading yestoday that there is a Potential 150 million barrels recoverable oil reserves within the Lake MacLeod

looking like the by of the year i hope

 

[lioness]

Re: EGO - Empire Oil

yes i do wish lol sorry i was posting as i was walking out the door

i was reading yestoday that there is a Potential 150 million barrels recoverable oil reserves within the Lake MacLeod

looking like the by of the year i hope

Yes, David that is true and Finch has massive gas potential which will be drilled first before end of June.

Small market cap and cannot go wrong here as upside is 10 cents plus with success. Worth a punt that's for sure.

 

[lioness]

Re: EGO - Empire Oil

Trader Paul,

Where are you. Can you complete an astro analysis here for us.

Thanks.

 

[Datsun Disguise]

Re: EGO - Empire Oil

Hi Lioness, David,

I'm glad some others are excited about ego as well - the next two wells at finch and mcleod are the blue sky opportunities imo - although as you have pointed out with good chance of success. The bread and butter play is the testing of stokes bay. This was suspended due a bit of rain last year (well a LOT of rain actually). They are now working on setting up an all weather road into the area in order to get the equipment back in there to complete the testing. One of my previous posts has got an extract from a report that outlines that the intersected "Structure has the potential to trap up to 158 billion cubic feet of recoverable gas". Updip of this structure a previous well flowed at 4.3mcf a day.

The fact that these guys have decided to drill finch & mcleod first ahead of the testing of stokes (which is looking pretty good) tells me that they have high expectations. I for one am very much looking forward to June / July period - and not just because I get to do my tax return!!:

Night all - off to watch Stoner stone em in catalunya.

 

[lioness]

Re: EGO - Empire Oil

Hi Lioness, David,

I'm glad some others are excited about ego as well - the next two wells at finch and mcleod are the blue sky opportunities imo - although as you have pointed out with good chance of success. The bread and butter play is the testing of stokes bay. This was suspended due a bit of rain last year (well a LOT of rain actually). They are now working on setting up an all weather road into the area in order to get the equipment back in there to complete the testing. One of my previous posts has got an extract from a report that outlines that the intersected "Structure has the potential to trap up to 158 billion cubic feet of recoverable gas". Updip of this structure a previous well flowed at 4.3mcf a day.

The fact that these guys have decided to drill finch & mcleod first ahead of the testing of stokes (which is looking pretty good) tells me that they have high expectations. I for one am very much looking forward to June / July period - and not just because I get to do my tax return!!:

Night all - off to watch Stoner stone em in catalunya.

Datsun,

You make very goodpoints, but just to add another point.

Think about the closing dates for the SPP and why they would raise cash now just before drilling.

This makes your statement that they have high hopes of success in finch and macleod even more true.

Cheers, we may another chart from Go Nuke as an update please.

 

[NickVC]

Re: EGO - Empire Oil

Update of the planned drilling of Gingin West No. 1 well, published at 2.26pm....haven't had a chance to look at the results yet...

 

[mike85]

Re: EGO - Empire Oil

pretty happy with today's efforts, up 20% with 154 million traded
does anyone think they have much more of a run in them?

 

[webclever]

Re: EGO - Empire Oil

Definitely have a lot more run on them. They still got Lake Macleod & Star Finch-1 drilling results that could potentially turn into black gold.