EGO - Empire Oil & Gas

Datsun Disguise · 16 June 2008

Re: EGO - Empire Oil

It would be very bad form if he had inside knowledge and did sell. In fact it would be illegal - something called 'insider trading'. I see it from this angle, if there is bad news coming and he has sold out he is on record as having done so. Therefore would be investigated and charged if a case was found to exist for insider trading. So the more likely scenario is that the market is fully informed, (or good news is coming) and he simply needed the cash. I recall another stock where a director sold out a substantial portion of his holding, the market had a panic attack and the price dipped. Turns out the guy had just bought a multi million dollar house and needed the cash for the deposit....

We all have cash flow requirements at different points for different reasons (yes, maybe even BNB).

If he has bought in again after dumping his parcel then he'd be manipulating the market - again, naughty and he'd most likely be investigated.

Still holding and waiting for the real news.

Go Nuke · 16 June 2008

Re: EGO - Empire Oil

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...

With Commsec if you sell one lot of shares today and buy another lot, they just deduct the difference. (Or put money into your account in 3 days time if you bought less than what you sold)

Does that make sence?

ie If I sell $1000 of shares today and buy $1200 today, in 3 days time they will take another $200 (+ brokerage $29.95 etc) out of my account 3 days later.

Go Nuke · 16 June 2008

Re: EGO - Empire Oil

I don't think it would be bad news. They haven't even started anything really!lol.
Unless its a delay of some kind...then the sp would get smashed.

Bit of panic selling is good for those who wish to enter

NickVC · 16 June 2008

Re: EGO - Empire Oil

Go Nuke said:
With Commsec if you sell one lot of shares today and buy another lot, they just deduct the difference. (Or put money into your account in 3 days time if you bought less than what you sold)

Does that make sence?

ie If I sell $1000 of shares today and buy $1200 today, in 3 days time they will take another $200 (+ brokerage $29.95 etc) out of my account 3 days later.

Makes sense, thanks. I just wasn't sure because on the contract notes it says that for a purchase funds will be debited on T+3, and for a sale although it says settlement is T+3 it also says "funds available the following day".

serg2100 · 16 June 2008

Re: EGO - Empire Oil

All my energy stocks went down today. So I decided to get more of EGO at 0.026

MattB · 16 June 2008

Re: EGO - Empire Oil

NickVC said:
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)

Yes - if i understand what you're asking?
Basically, you will get billed the difference... ie) sell shares for $7k, comsec finalise the contract and owe you $7k, but if you buy $10k worth of shares before that, they will debit the $3k difference...

got Order Status, and click anything to get to the next page, then goto Financials menu -> Most Recent, this will show what I meant. (if that's what you meant! )

bowseruni · 16 June 2008

Re: EGO - Empire Oil

I got some more today (lots more) for 0.026, what is a good price to set as a selling trigger and sell point on comsec, is there a unwritten rule of 10% lower than purchase price or is it a personal thing?

still new and only just started using this feature.

NickVC · 16 June 2008

Re: EGO - Empire Oil

thanks for the above prompt responses re comsec.

for what it's worth, i've put in an order to purchase some more at market open for 0.025. If the indicitive price is lower than that, then I may re-asssess. However, at this stage I'm thinking that a lot of traders will realise overnight that they just got spooked and sold out for no good reason....I think that there will be a lot of people trying to buy back in tomorrow....massive volumes today and I would expect the same tomorrow.

LeeTV · 16 June 2008

Re: EGO - Empire Oil

bowseruni said:
I got some more today (lots more) for 0.026, what is a good price to set as a selling trigger and sell point on comsec, is there a unwritten rule of 10% lower than purchase price or is it a personal thing?

still new and only just started using this feature.

What new feature? I have wondered how to set a low end sell trigger at CommSec too. Can it be done? If so how?

NickVC · 16 June 2008

Re: EGO - Empire Oil

bowseruni said:
I got some more today (lots more) for 0.026, what is a good price to set as a selling trigger and sell point on comsec, is there a unwritten rule of 10% lower than purchase price or is it a personal thing?

still new and only just started using this feature.

I don't know, I have never used a sell trigger. However, I have registered for it on Comsec, and will set a trigger for this stock. I don't think you could have any set rule, at least not for a stock like this one. My plan is to wait until they are getting close to target depths and then set a trigger for some price a bit below that.

LeeTV said:
What new feature? I have wondered how to set a low end sell trigger at CommSec too. Can it be done? If so how?

Never used it, but go to "orders" and then "conditional trading", apply to register online for conditional trading and then answer a few simple questions.

bowseruni · 16 June 2008

Re: EGO - Empire Oil

NickVC said:
go to "orders" and then "conditional trading", apply to register online for conditional trading and then answer a few simple questions.

yeah that is correct, very easy to do. Just put in your trigger price and then your sell quantity and price. If you set the trigger to close to the current price it shows up a warning.

DavidB1 · 16 June 2008

Re: EGO - Empire Oil

i got hit big time today !
but there was a lot of ppl bying at .024 and .025c

i may by some tomorrow

benwex · 16 June 2008

Re: EGO - Empire Oil

Datsun Disguise said:
It would be very bad form if he had inside knowledge and did sell. In fact it would be illegal - something called 'insider trading'. I see it from this angle, if there is bad news coming and he has sold out he is on record as having done so. Therefore would be investigated and charged if a case was found to exist for insider trading. So the more likely scenario is that the market is fully informed, (or good news is coming) and he simply needed the cash. I recall another stock where a director sold out a substantial portion of his holding, the market had a panic attack and the price dipped. Turns out the guy had just bought a multi million dollar house and needed the cash for the deposit....

We all have cash flow requirements at different points for different reasons (yes, maybe even BNB).

If he has bought in again after dumping his parcel then he'd be manipulating the market - again, naughty and he'd most likely be investigated.

Still holding and waiting for the real news.

How many people have successfully been prosecuted for inside trading???? not many Im afraid....

I hope this forthcoming anouncement is good news for all the EGO shareholders but I too would not gain confidence from seeing the directors selling out days before a release...

EGO has a bit of history and people should research their canning basin drilling campaign last year and subsequent releases vs share price.

benwex

cordelia · 17 June 2008

Re: EGO - Empire Oil

Datsun Disguise said:
It would be very bad form if he had inside knowledge and did sell. In fact it would be illegal - something called 'insider trading'. I see it from this angle, if there is bad news coming and he has sold out he is on record as having done so. Therefore would be investigated and charged if a case was found to exist for insider trading. So the more likely scenario is that the market is fully informed, (or good news is coming) and he simply needed the cash. I recall another stock where a director sold out a substantial portion of his holding, the market had a panic attack and the price dipped. Turns out the guy had just bought a multi million dollar house and needed the cash for the deposit....

We all have cash flow requirements at different points for different reasons (yes, maybe even BNB).

If he has bought in again after dumping his parcel then he'd be manipulating the market - again, naughty and he'd most likely be investigated.

Still holding and waiting for the real news.

...

yes i agree...in fact the announcement had a covering letter..normally its just the appendix 3y form. I think he might have had to sell....

bowseruni · 17 June 2008

Re: EGO - Empire Oil

ok everyoe keeps saying to do my own research, well i have and i'm a little worried. Seems the director bought and sold the same shares in august 07 and the shares dropped down big time following. So hope it doesn't happen this time.

Does seem odd to me that the director bought and sold shares that quickly, especially since he has done it before and the impact of the share price.

getting a little worried now

cordelia · 17 June 2008

Re: EGO - Empire Oil

bowseruni said:
ok everyoe keeps saying to do my own research, well i have and i'm a little worried. Seems the director bought and sold the same shares in august 07 and the shares dropped down big time following. So hope it doesn't happen this time.

Does seem odd to me that the director bought and sold shares that quickly, especially since he has done it before and the impact of the share price.

getting a little worried now

If it's any consolation the volume was huge yesterday but today its much lower and the sp has found support @.026...It hasn't gone lower.....

Datsun Disguise · 17 June 2008

Re: EGO - Empire Oil

Nothing to get worried about at the moment. The activities of the director are not an indicator of success or failure. Unless he has run off and done the drilling by himself and knows what is to be found 400 odd metres below the surface.

Bowser - if he has a history of selling off in the run up to drilling then that actually eases my mind a little. It is a well used strategy to trade the run up to a drilling activity. You'll notice that whenever EGO (or any explorer) starts getting close to drilling the share price rises due to people getting in hoping for successful results. If you were to anticipate (through researching announcements) these programs and trade the pre-drilling activity every time then you can make consistent profits - albeit you'll never come across the 1000% gains that are sometimes possible. However in the long run you will probably do alright. This approach is what has got me into Ego at a low price - not the lowest, but low all the same.

I'm holding not just for the results of star finch but also for macleod and gingin - failures in star and macleod will provide buying opportunities for the gingin prospect (EP389) which is imo the big one (up to 1.3TCF gas...).

Remember this is not a blue chip, you have to expect some volatility.

DavidB1 · 17 June 2008

Re: EGO - Empire Oil

bought somemore to day
now have over 1.200.000 hope to see the sp back up to 3c tomorrow

someone sold 15m at .025 thats why it went down just be for close

rub92me · 17 June 2008

Re: EGO - Empire Oil

Here's an hourly chart. To me it doesn't look promising with high volume rejections when price attempts to break through (circled on the chart). Doesn't mean it won't shoot up of course tomorrow :

bowseruni · 18 June 2008

Re: EGO - Empire Oil

gee wizz davidb1 your going in strong,

can someone explain to me why the volume has a red and green? is it for bought and sold? also how does the volume relate to the SP? just trying to understand the above graph better.
cheers

EGO - Empire Oil & Gas

Datsun Disguise

Go Nuke

Go Nuke

NickVC

serg2100

MattB

bowseruni

NickVC

LeeTV

NickVC

bowseruni

DavidB1

benwex

cordelia

bowseruni

cordelia

Datsun Disguise

DavidB1

rub92me

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