EGO - Empire Oil & Gas

[DavidB1]

Re: EGO - Empire Oil

Good point. Still, if drilling results are good and if share price reflected, say, a third of the asset value, then its still 15c per share. Ego has approx 30% interest in Lake Mcleod (as you said), 23% in Star Finch and 62.5% in Gingin West.

On a separate matter, thanks lioness for your reply in the outstanding breakouts thread last night. I saw it before you took it down again (or perhaps it was removed because of your projection regarding the sp). Anyway, it was helpful to know that you think that I was reading the chart properly

it would be good if it gets to 15c i would have made 100k lol
It has all-time highs at around 10-times current levels so it may make it one day

 

[Shadex]

Re: EGO - Empire Oil

done a stupid thing today, because it kept fluctuating between .029 - 0.03 i thought i would be smart and sell all at .03 and rebuy at .029. Didn't work that way, ended up selling at 0.029 and rebuying at 0.03

oh well, serves me right for trying to make a quick buck

Thats ok mate you done better then this guy.

Check this out, These are the buys/sells that have gone through, throughout the day.

 

[bowseruni]

Re: EGO - Empire Oil

gee wizz, i don't feel quiet so bad, considering that trade although i can see my trades on that list...if only i waited a couple of minutes each way it would of worked

 

[lioness]

Re: EGO - Empire Oil

Thats ok mate you done better then this guy.

Check this out, These are the buys/sells that have gone through, throughout the day.

Shadex,

I am not getting this. How is this price possible??? Please explain.

There are piles of shares in the next queue so why would the price escalate to this??

 

[Shadex]

Re: EGO - Empire Oil

Shadex,

I am not getting this. How is this price possible??? Please explain.

There are piles of shares in the next queue so why would the price escalate to this??

Lol im not sure either, He just may of missed typed? Went to type 0.015? Not 0.15 lol. But other then that i have no idea.

 

[Datsun Disguise]

Re: EGO - Empire Oil

That 15.5c trade doesn't appear on my trade list for Friday, must be a glitch with your system Shadex. Even if he/she did miss type and put in 15c instead of 1.5c all that would happen is that he/she'd buy the shares on offer at the ask price until the order was filled.

It would be nice to see some real 15c trades going through, with some successful drilling results over the nest few months perhaps not so unrealistic....?

 

[lioness]

Re: EGO - Empire Oil

Nick,

Do you mind giving an update on EGO for potential breakout alerts?? It seems to have had a small retrace from breakout point at 2.4 cents. Is it still a potential runner? It looks to me like it is ready for the another leg up. Please post a chart as this would help all of us.

Thanks in advance.

 

[NickVC]

Re: EGO - Empire Oil

Nick,

Do you mind giving an update on EGO for potential breakout alerts?? It seems to have had a small retrace from breakout point at 2.4 cents. Is it still a potential runner? It looks to me like it is ready for the another leg up. Please post a chart as this would help all of us.

Thanks in advance.

No problems, a daily chart and an intraday chart are below. I'll have a go at interpreting the chart, but it would be great to get other peoples views on what it may mean too and as to whether my interpretation is sound or whether it is just jumble .

Ok, here goes....strangley, in the intraday chart the sp looks to be dropping to just below the bottom bollinger band, but in the daily chart the sp is hovering around and looking to break through the upper band. So, looking at the daily would look like a break out potential, but looking at the intraday would look like break down potentially (don't know which one is the correct one to rely upon )

Regarding the Bollinger bands, I should mention that I have no idea what specifications to enter in for those bands (I have just used the default ones on the program where the "Average type" is "simple", "period" is "21" and "deviations" is "2"). Please, someone, let me know if there is anything fundamentally wrong about these specifications.

I think, however, the important issue is probably that on the intra day chart there appears to be consolidation around the 28c mark. Also it is probably important that the volumes have been large since it got to around that mark, so people as a whole will be reluctant to sell without some increase or profit. EGO had the largest trades by volume on the asx one day last week.

So, I think it is probably due for a breakout. However, any massive breakout may well be more to do with company announcements when they are made re drilling than to do with the correctness of my not so exceptional chart analysis skills. The fact is, having read Datsuns posts I'm going to hold until these announcements start coming through.

Hope this helps, and any other peoples analysis of these charts would also certainly be helpful

 

[lioness]

Re: EGO - Empire Oil

No problems, a daily chart and an intraday chart are below. I'll have a go at interpreting the chart, but it would be great to get other peoples views on what it may mean too and as to whether my interpretation is sound or whether it is just jumble .

Ok, here goes....strangley, in the intraday chart the sp looks to be dropping to just below the bottom bollinger band, but in the daily chart the sp is hovering around and looking to break through the upper band. So, looking at the daily would look like a break out potential, but looking at the intraday would look like break down potentially (don't know which one is the correct one to rely upon )

Regarding the Bollinger bands, I should mention that I have no idea what specifications to enter in for those bands (I have just used the default ones on the program where the "Average type" is "simple", "period" is "21" and "deviations" is "2"). Please, someone, let me know if there is anything fundamentally wrong about these specifications.

I think, however, the important issue is probably that on the intra day chart there appears to be consolidation around the 28c mark. Also it is probably important that the volumes have been large since it got to around that mark, so people as a whole will be reluctant to sell without some increase or profit. EGO had the largest trades by volume on the asx one day last week.

So, I think it is probably due for a breakout. However, any massive breakout may well be more to do with company announcements when they are made re drilling than to do with the correctness of my not so exceptional chart analysis skills. The fact is, having read Datsuns posts I'm going to hold until these announcements start coming through.

Hope this helps, and any other peoples analysis of these charts would also certainly be helpful

Wow! How's that for service, fantasticly quick.

Many thanks Nick, you are right announcement driven but the good thing is we are overdue for updates and spud dates. A strong hold.

 

[NickVC]

Re: EGO - Empire Oil

Wow! How's that for service, fantasticly quick.

Many thanks Nick, you are right announcement driven but the good thing is we are overdue for updates and spud dates. A strong hold.

I think that anyone buying these before announcements at any price would be in a fairly good position. As the announcements start, the sp surely has to start increasing markedly (even though the first few announcements won't really tell us a great deal). I would have thought that the only announcement that could drop the share price would be if rain prevents drilling, or if there is some other disaster.

The real test will be what happens to the sp as we get close to the target depth and the meaningful announcements; that is, will people take the profits in fear of a adverse announcements or will they hold on for the "rainmaker"....only time will tell.

 

[lioness]

Re: EGO - Empire Oil

I think that anyone buying these before announcements at any price would be in a fairly good position. As the announcements start, the sp surely has to start increasing markedly (even though the first few announcements won't really tell us a great deal). I would have thought that the only announcement that could drop the share price would be if rain prevents drilling, or if there is some other disaster.

The real test will be what happens to the sp as we get close to the target depth and the meaningful announcements; that is, will people take the profits in fear of a adverse announcements or will they hold on for the "rainmaker"....only time will tell.

Nick,

There is no delay. I have called the company and spoken to Craig and he stated there is no delay. Spudding will occur within the next 2-3 weeks max.

 

[bowseruni]

Re: EGO - Empire Oil

Nick,

There is no delay. I have called the company and spoken to Craig and he stated there is no delay. Spudding will occur within the next 2-3 weeks max.

what is spudding?
still a bit green on some of the terms used on this site.


man i hate this minimum post length

 

[tnargak]

Re: EGO - Empire Oil

SPUDDING:

The process of starting to drill a well by making a hole in the seabed using a large diameter bit.


Hope that helps you out mate.

 

[lioness]

Re: EGO - Empire Oil

62 million traded already in the first hour, looks like we may get a little run on this today. I suspect it will be announcement driven, but that 3 cent resistance level sure did disappear wuickly this morning.

Thanks again Nick for the charts.

 

[NickVC]

Re: EGO - Empire Oil

After an announcement that a director sold 6.5million shares today, price has dropped slightly. He exercised options to purchase those shares at 0.015c last week, and from the list of trades it looks like he probably sold them for 0.029c. A nice little profit of $91K...but leaving aside his profit, what do people speculate as to the reasons for the exercise of options and then sale of shares...

 

[cordelia]

Re: EGO - Empire Oil

After an announcement that a director sold 6.5million shares today, price has dropped slightly. He exercised options to purchase those shares at 0.015c last week, and from the list of trades it looks like he probably sold them for 0.029c. A nice little profit of $91K...but leaving aside his profit, what do people speculate as to the reasons for the exercise of options and then sale of shares...

could be any reason maybe he had to cover a margin call.....who knows he might have got caught in the bnb mess

 

[Go Nuke]

Re: EGO - Empire Oil

Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence

But yes, maybe a margin call...who knows

Its probably a good time to buy up for those that wanted to get into EGO before announcements are made.

DYOR and I don't hold EGO

 

[NickVC]

Re: EGO - Empire Oil

Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence

But yes, maybe a margin call...who knows

Its probably a good time to buy up for those that wanted to get into EGO before announcements are made.

DYOR and I don't hold EGO

there's been some big purchases going through with the market dropping, it may be possible that he's just played the market - sold out at 0.029 guessing that this will drop the value and perhaps bought back in at the current price. I might grab a few more shares at the low prices - does anyone know when using Comsec whether if I sold other shares today I could also place a purchase order today (i.e. is the capital going to be available in time to meet the purchase order...I think I probably need to wait until tomorrow to place the purchase order and use that capital, but just wanted to check)

 

[bowseruni]

Re: EGO - Empire Oil

could it be possible that his sale could reflect the coming announcement? or is that not allowed? does seem suss to me...and I just bought more

 

[cordelia]

Re: EGO - Empire Oil

Well whatever the reason it looks like the market doesn't take his sale as a vote of confidence

But yes, maybe a margin call...who knows

Its probably a good time to buy up for those that wanted to get into EGO before announcements are made.

DYOR and I don't hold EGO

I was a holder for about 10 mins until I read that announcement...didn't exactly make me feel confident..I'll wait to see what happens