EGO - Empire Oil & Gas
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prawn_86
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Re: EGO - Empire Oil
Any analysis behind any of that, or is it just pointless?
Im sure any of the holders would love to see it hit $1 or $100 buts its probably not going to happen is it
Any analysis behind any of that, or is it just pointless?
Im sure any of the holders would love to see it hit $1 or $100 buts its probably not going to happen is it
Re: EGO - Empire Oil
Well after analyzing a few charts of the sp trends I knew it would drop about 0.02cents today and which it did. closed today at 0.024.
Also brought another 60,000 shares today in EGO.
Well after analyzing a few charts of the sp trends I knew it would drop about 0.02cents today and which it did. closed today at 0.024.
Also brought another 60,000 shares today in EGO.
prawn_86
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Re: EGO - Empire Oil
Care to post those charts explaining you analysis?
I would have thought the drop today had more to do with the market overall rather than EGO itself
Care to post those charts explaining you analysis?
I would have thought the drop today had more to do with the market overall rather than EGO itself
Re: EGO - Empire Oil
Have you hit your rising buy trigger yet Datsun? High of 0.028 on Friday, with big volumes in the last half hour of trading.
SPP date was 4 July and, according to another forum, it looks like they have been drilling this weekend. So we should have a spud announcement, I suspect, on Monday (possibly during the pre-open).
Have you hit your rising buy trigger yet Datsun? High of 0.028 on Friday, with big volumes in the last half hour of trading.
SPP date was 4 July and, according to another forum, it looks like they have been drilling this weekend. So we should have a spud announcement, I suspect, on Monday (possibly during the pre-open).
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Re: EGO - Empire Oil
Hi Nick - yep, the 2.4c on monday hit the warning bell and I got in at 2.5 on Wednesday. I'm not in as heavy as before, put some into PPP which I'm going to put a post up on tonight.
There's plent of people watching this so hopefully good news will have the opposite effect (ie +1c) to the director sale and SPP announcements!!!
Good luck EGOers.
Hi Nick - yep, the 2.4c on monday hit the warning bell and I got in at 2.5 on Wednesday. I'm not in as heavy as before, put some into PPP which I'm going to put a post up on tonight.
There's plent of people watching this so hopefully good news will have the opposite effect (ie +1c) to the director sale and SPP announcements!!!
Good luck EGOers.
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Re: EGO - Empire Oil
Empire Oil & Gas (ASX:EGO) SPUDS STAR FINCH-1, EP 460, CARNARVON BASIN, WESTERN AUSTRALIA
Perth, July 8, 2008 (ABN Newswire) - Empire Oil & Gas (ASX:EGO)(PINK:EOLGF) Announce the Star Finch-1 well commenced drilling (spudded) at 0600 hours on 8 July, 2008 upon drilling out the 13 3/8" conductor set at a depth of 19 metres. The current operations at 0900 hours on 8 July 2008 is drilling ahead in 311mm (12 1/4") hole at 27 metres depth. Planned operations in the next 24 hours, will be drilling ahead in 12 1/4" hole.
The future drilling operations will be drilling ahead with 12 1/4" hole to approximately 100 metres where the 244mm (9 5/8") casing will be run and cemented. This 'top hole' drilling operation will be undertaken only in daylight hours.
Upon the 9 5/8" casing being cemented, the blow out prevention equipment will be installed and pressure tested, prior to drilling ahead with 8 1/2" hole. This will be the commencement of a 24 hour drilling operation with careful monitoring of the wellbore for oil and gas while drilling the Cretaceous aged reservoir objectives. The total depth of the Star Finch-1 well is 450 metres.
STAR FINCH-1 PETROLEUM EXPLORATION WELL EP 460, WESTERN AUSTRALIA
1. Well Name/Permit
Star Finch-1/EP 460, Western Australia
2. This report is for the Period:
The period 0600 hours WST 8 July 2008 to 0900 hrs WST 8 July 2008
3. This ASX Release Time and Date:
0900 hours WST 8 July 2008
4. Report No:
1
5. Spud Date/Rig:
DCA Rig 7 0600 hours WST 8 July 2008
6. Days since Spud:
0
7. Location of Well: Latitude 240 44' 00' S Longitude 1130 44' 20" E
8. Elevation:
G.L. Above MSL - 6 metres
RT. 3 metres
RT to GL 10 metres
9. Proposed Total Depth:
450 metres
10. Targets:
Primary Reservoir Objective: Birdrong Sandstone @ 390 metres
11. Present Depth:
At 0900 hours 8 July 2008 27 metres
12. Geological Summary:
At 0900 hours 8 July 2008 at 27 metres Drilled surface coastal Quaternary hard limestone
13. Hydrocarbon Indications:
At 0900 hours 8 July 2008:
None anticipated in Quaternary/Tertiary sediments
14. Operations since last Report:
Preparing to spud from 13 3/8" conductor set at 19 Metres
15. Current Operations:
At 0900 Hours 8 July 2008 Drilling hole 12 1/4" (311mm) hole at 27 meters.
16. Future Operations:
Drill ahead 12 1/4" hole to 100 metres. Run casing and cement. Install blowout
prevention equipment.
17. Prospect Description:
The Star Finch Prospect is a reverse faulted anticlinal structure formed by mid-Miocene compression. Potential hydrocarbons in the Star Finch structure are interpreted to have migrated up out of the Devonian sediments by faulting and fracturing during this compression. The main objective in the Star Finch Prospect is the Birdrong Sandstone. The nearby Bibbawarra Bore encountered approximately 15 metres of Birdrong Sandstone sealed by 27 metres of Muderong Shale. The prospect covers a large area of 3,000 hectares and potential recoverable reserves are estimated to be of the order of 50 billion cubic feet of gas or 25 million barrels of oil assuming a 5 metre oil leg. The Star Finch Prospect demonstrates bright seismic anomalies over the mapped closure. Bright anomalies have been a successful indication in many cases for natural gas entrapment in the Carnarvon Basin.
18. Participants in the well:
--------------------------------------
Empire Oil & Gas N.L. (Rough Range Oil
Pty Ltd - Operator) - 22.856%
Jurassica Oil & Gas Plc - 40%
Longreach Oil Limited - 9.352%
Indigo Oil Pty Ltd - 4.676%
Falcore Pty Ltd - 2.596%
Vigilant Oil Pty Ltd - 0.52%
DVM International Limited - 20%
------------------------------------
About EMPIRE OIL & GAS NL
Empire Oil & Gas NL is an Australia-based company that is principally engaged in oil and gas production and exploration. The Company has produced and sold to BP Kwinana Australia Pty Ltd, a total of 30,733 barrels of oil. The Company applied for a Production License 1/04-5L over the Rough Range 1B oil well area. The Company, together with farminees, Phoenix Resources Plc, Black Fire Energy Limited and the EP 435 Joint Venture participants, Australian Oil Company Limited and Bounty Oil & Gas N.L. drilled the Parrot Hill-2 well during April 2007. The Company commenced drilling on April 9, 2007, and reached its total depth of 1,232 meters on April 19, 2007. The Company's wholly owned subsidiaries include Empire Services Pty Ltd, Empire Oil Company (WA) Limited, Gulliver Productions Pty Ltd, Rough Range Oil Pty Ltd and St. George Petroleum Limited
http://www.abnnewswire.net/press/en...EP_460_CARNARVON_BASIN_WESTERN_AUSTRALIA.html
Empire Oil & Gas (ASX:EGO) SPUDS STAR FINCH-1, EP 460, CARNARVON BASIN, WESTERN AUSTRALIA
Perth, July 8, 2008 (ABN Newswire) - Empire Oil & Gas (ASX:EGO)(PINK:EOLGF) Announce the Star Finch-1 well commenced drilling (spudded) at 0600 hours on 8 July, 2008 upon drilling out the 13 3/8" conductor set at a depth of 19 metres. The current operations at 0900 hours on 8 July 2008 is drilling ahead in 311mm (12 1/4") hole at 27 metres depth. Planned operations in the next 24 hours, will be drilling ahead in 12 1/4" hole.
The future drilling operations will be drilling ahead with 12 1/4" hole to approximately 100 metres where the 244mm (9 5/8") casing will be run and cemented. This 'top hole' drilling operation will be undertaken only in daylight hours.
Upon the 9 5/8" casing being cemented, the blow out prevention equipment will be installed and pressure tested, prior to drilling ahead with 8 1/2" hole. This will be the commencement of a 24 hour drilling operation with careful monitoring of the wellbore for oil and gas while drilling the Cretaceous aged reservoir objectives. The total depth of the Star Finch-1 well is 450 metres.
STAR FINCH-1 PETROLEUM EXPLORATION WELL EP 460, WESTERN AUSTRALIA
1. Well Name/Permit
Star Finch-1/EP 460, Western Australia
2. This report is for the Period:
The period 0600 hours WST 8 July 2008 to 0900 hrs WST 8 July 2008
3. This ASX Release Time and Date:
0900 hours WST 8 July 2008
4. Report No:
1
5. Spud Date/Rig:
DCA Rig 7 0600 hours WST 8 July 2008
6. Days since Spud:
0
7. Location of Well: Latitude 240 44' 00' S Longitude 1130 44' 20" E
8. Elevation:
G.L. Above MSL - 6 metres
RT. 3 metres
RT to GL 10 metres
9. Proposed Total Depth:
450 metres
10. Targets:
Primary Reservoir Objective: Birdrong Sandstone @ 390 metres
11. Present Depth:
At 0900 hours 8 July 2008 27 metres
12. Geological Summary:
At 0900 hours 8 July 2008 at 27 metres Drilled surface coastal Quaternary hard limestone
13. Hydrocarbon Indications:
At 0900 hours 8 July 2008:
None anticipated in Quaternary/Tertiary sediments
14. Operations since last Report:
Preparing to spud from 13 3/8" conductor set at 19 Metres
15. Current Operations:
At 0900 Hours 8 July 2008 Drilling hole 12 1/4" (311mm) hole at 27 meters.
16. Future Operations:
Drill ahead 12 1/4" hole to 100 metres. Run casing and cement. Install blowout
prevention equipment.
17. Prospect Description:
The Star Finch Prospect is a reverse faulted anticlinal structure formed by mid-Miocene compression. Potential hydrocarbons in the Star Finch structure are interpreted to have migrated up out of the Devonian sediments by faulting and fracturing during this compression. The main objective in the Star Finch Prospect is the Birdrong Sandstone. The nearby Bibbawarra Bore encountered approximately 15 metres of Birdrong Sandstone sealed by 27 metres of Muderong Shale. The prospect covers a large area of 3,000 hectares and potential recoverable reserves are estimated to be of the order of 50 billion cubic feet of gas or 25 million barrels of oil assuming a 5 metre oil leg. The Star Finch Prospect demonstrates bright seismic anomalies over the mapped closure. Bright anomalies have been a successful indication in many cases for natural gas entrapment in the Carnarvon Basin.
18. Participants in the well:
--------------------------------------
Empire Oil & Gas N.L. (Rough Range Oil
Pty Ltd - Operator) - 22.856%
Jurassica Oil & Gas Plc - 40%
Longreach Oil Limited - 9.352%
Indigo Oil Pty Ltd - 4.676%
Falcore Pty Ltd - 2.596%
Vigilant Oil Pty Ltd - 0.52%
DVM International Limited - 20%
------------------------------------
About EMPIRE OIL & GAS NL
Empire Oil & Gas NL is an Australia-based company that is principally engaged in oil and gas production and exploration. The Company has produced and sold to BP Kwinana Australia Pty Ltd, a total of 30,733 barrels of oil. The Company applied for a Production License 1/04-5L over the Rough Range 1B oil well area. The Company, together with farminees, Phoenix Resources Plc, Black Fire Energy Limited and the EP 435 Joint Venture participants, Australian Oil Company Limited and Bounty Oil & Gas N.L. drilled the Parrot Hill-2 well during April 2007. The Company commenced drilling on April 9, 2007, and reached its total depth of 1,232 meters on April 19, 2007. The Company's wholly owned subsidiaries include Empire Services Pty Ltd, Empire Oil Company (WA) Limited, Gulliver Productions Pty Ltd, Rough Range Oil Pty Ltd and St. George Petroleum Limited
http://www.abnnewswire.net/press/en...EP_460_CARNARVON_BASIN_WESTERN_AUSTRALIA.html
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Re: EGO - Empire Oil
EGO is such a puzzle
It will have around 3Billion shares after this SPP which at an SP of 2.5c = a Mkt Cap of $75m
Now it has a 23% interest in Star Finch 1 which has a target of 25M bls of Oil and 50Bcf of Gas
The second well is much more interesting, EGO will have a 30% interest in Lake Macleod which has a target of 150M bls of oil
I don't own any EGO and fundamentally I think it is wayyyyy overpriced, however I will buy some at the right time for a trade as given the size of Lake Macleod (the second well) it will get alot of attention
EGO is such a puzzle
It will have around 3Billion shares after this SPP which at an SP of 2.5c = a Mkt Cap of $75m
Now it has a 23% interest in Star Finch 1 which has a target of 25M bls of Oil and 50Bcf of Gas
The second well is much more interesting, EGO will have a 30% interest in Lake Macleod which has a target of 150M bls of oil
I don't own any EGO and fundamentally I think it is wayyyyy overpriced, however I will buy some at the right time for a trade as given the size of Lake Macleod (the second well) it will get alot of attention
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Re: EGO - Empire Oil
Correct me if im wrong, because i have just started doing this but there 4-5 mil bls they stand to make from star finch worth roughly 80-100 million dollars.
Shouldnt egoers expect the current sp to easily double as the market cap is only 58mil (google finance).
Again man not saying your wrong just trying to learn.
Correct me if im wrong, because i have just started doing this but there 4-5 mil bls they stand to make from star finch worth roughly 80-100 million dollars.
Shouldnt egoers expect the current sp to easily double as the market cap is only 58mil (google finance).
Again man not saying your wrong just trying to learn.
Re: EGO - Empire Oil
hey
got this off the Empire Oil web page
Empire Oil Company (WA) Limited
57.14% in Lake Macleod
i hold ego
and i hit the multiq button accidently
sorry cya david
hey
got this off the Empire Oil web page
Empire Oil Company (WA) Limited
57.14% in Lake Macleod
i hold ego
and i hit the multiq button accidently
sorry cya david
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Re: EGO - Empire Oil
Given that EGO hasn't found anything yet, then yes I'd agree that it is overvalued at the moment. But the premium in the SP at the moment is due to the speculation for initially SF, followed by LM.
If you have a look through the targets that accompanied the SPP you'd have to say that the 1.5c of spec at the moment is warranted.
My calcs suggest a SF discovery is worth about 3c as an asset - so maybe 4c fair value for the SP. If they do strike I'd expect 5-6c to be achieved before falling back pending testing and all that annoying commercialisation stuff.
I ignore the increase is issued shares in calcuating cap as they are receiving cash for it so in my view it cancels itself out (for now). Of course they will start spending it to drill, but being optimistic they'll be converting it from a cash asset into a resource.
No doubt this is pure spec, but plenty of opportunity to make $$$. Don't get caught holding if it's a duster though (better to be waiting at the 1 - 1.5c range to pick up some bargains for the next round of drilling!)
My opinion is that the gingin prospect is the big one - very high confidence and an existing pipeline 2.5km away - lovely. But not on the 2008 schedule.
Given that EGO hasn't found anything yet, then yes I'd agree that it is overvalued at the moment. But the premium in the SP at the moment is due to the speculation for initially SF, followed by LM.
If you have a look through the targets that accompanied the SPP you'd have to say that the 1.5c of spec at the moment is warranted.
My calcs suggest a SF discovery is worth about 3c as an asset - so maybe 4c fair value for the SP. If they do strike I'd expect 5-6c to be achieved before falling back pending testing and all that annoying commercialisation stuff.
I ignore the increase is issued shares in calcuating cap as they are receiving cash for it so in my view it cancels itself out (for now). Of course they will start spending it to drill, but being optimistic they'll be converting it from a cash asset into a resource.
No doubt this is pure spec, but plenty of opportunity to make $$$. Don't get caught holding if it's a duster though (better to be waiting at the 1 - 1.5c range to pick up some bargains for the next round of drilling!)
My opinion is that the gingin prospect is the big one - very high confidence and an existing pipeline 2.5km away - lovely. But not on the 2008 schedule.
Re: EGO - Empire Oil
It's 30.356%. And the P50 is more like 30mmbbl. I wouldn't base anything reliable on filled-to-spill figures.
It's 30.356%. And the P50 is more like 30mmbbl. I wouldn't base anything reliable on filled-to-spill figures.
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Re: EGO - Empire Oil
Because the whole market is going down the gurgler.
People are taking their money off the table as things are wayyy too unstable at the moment. And EGO is high risk.
I think that sums it up
Because the whole market is going down the gurgler.
People are taking their money off the table as things are wayyy too unstable at the moment. And EGO is high risk.
I think that sums it up
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Re: EGO - Empire Oil
100% agree with what Nuke said,
People really don't get how ugly the mkts are/have been, some say we're getting close to a bottom others say more pain to come
Specs like EGO offer excellent trading opportunities especially with these monster high impact wells, like the upcoming Lake Macleod, the problem is they are hit or miss
If they hit (ie success) then you get a KEY or ERH massive returns
If they miss (more likely) then you get a BAS/MOG collapse
Not holding any EGO and haven't held for a quite awhile now, but I will want some exposure tot he upcoming Lake Macleod well which is 3 weeks off I think
100% agree with what Nuke said,
People really don't get how ugly the mkts are/have been, some say we're getting close to a bottom others say more pain to come
Specs like EGO offer excellent trading opportunities especially with these monster high impact wells, like the upcoming Lake Macleod, the problem is they are hit or miss
If they hit (ie success) then you get a KEY or ERH massive returns
If they miss (more likely) then you get a BAS/MOG collapse
Not holding any EGO and haven't held for a quite awhile now, but I will want some exposure tot he upcoming Lake Macleod well which is 3 weeks off I think
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Re: EGO - Empire Oil
Hi folks,
EGO ... would not be surprised to see another selloff soon,
as nippling up and testing of this stack seems to be taking
longer than normal .....
..... though they have been ahead of the curve to date,
any further delay may indicate some mechanical problems
or suchlike, that may cause some delays and nervousness
amongst traders !~!
have a great day
paul
=====
Hi folks,
EGO ... as expected, on the move ... after a minor
and positive cycle on 11072008, we expect some
positive news, around 14-15072008 ...
... will take profits by 17-18072008, when the
first of several negative cycles should arrive.
have a great day
paul
=====
Hi folks,
EGO ... would not be surprised to see another selloff soon,
as nippling up and testing of this stack seems to be taking
longer than normal .....
..... though they have been ahead of the curve to date,
any further delay may indicate some mechanical problems
or suchlike, that may cause some delays and nervousness
amongst traders !~!
have a great day
paul
=====
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Re: EGO - Empire Oil
So I was wrong about the total amount of shares fully diluted,
Its closer to 2.7 Billion not 3 Billion
@ 2.2c = $60m Mkt Cap so still not cheap fundamentally but does offer good spec trading for the upcoming Lake Macleod well
To give you an idea of the value Lake Macleod is a discovery we would assign an EV of say $30bl to EGO
Now although the estimates for Lake Maceod are 150M bls, someone has correctly pointed out that this is if its filled to maximum spill point
However of equal importance is the fact that this is not an Oil In Place (OIP) but rather recoverable reserves, which is always a much much smaller figure, ie for there to be 150M bls in recoverable reserves the OIP would have to be 300Mbls-450Mbls, any way you look at it Lake Macleod will be a very large well and should attract alot of attention
Now assuming Lake Macleod is succesful and 150M bls of Oil is recoverable, EGO with its Net 30% interest would then have Net 45M bls of oil which at $30 Bl EV = $1.35 Billion = 50c a share EGO
Now it must be stressed this is assuming a full discovery at Lake Macleod (filled to the spill) which I think is unlikely, but it does show the massive upside should Lake Macleod come in
I don't hold any EGO, however have traded age's ago and like I said I do want some exposure to the upcoming Lake Macleod well however I have found a less risky way in
So I was wrong about the total amount of shares fully diluted,
Its closer to 2.7 Billion not 3 Billion
@ 2.2c = $60m Mkt Cap so still not cheap fundamentally but does offer good spec trading for the upcoming Lake Macleod well
To give you an idea of the value Lake Macleod is a discovery we would assign an EV of say $30bl to EGO
Now although the estimates for Lake Maceod are 150M bls, someone has correctly pointed out that this is if its filled to maximum spill point
However of equal importance is the fact that this is not an Oil In Place (OIP) but rather recoverable reserves, which is always a much much smaller figure, ie for there to be 150M bls in recoverable reserves the OIP would have to be 300Mbls-450Mbls, any way you look at it Lake Macleod will be a very large well and should attract alot of attention
Now assuming Lake Macleod is succesful and 150M bls of Oil is recoverable, EGO with its Net 30% interest would then have Net 45M bls of oil which at $30 Bl EV = $1.35 Billion = 50c a share EGO
Now it must be stressed this is assuming a full discovery at Lake Macleod (filled to the spill) which I think is unlikely, but it does show the massive upside should Lake Macleod come in
I don't hold any EGO, however have traded age's ago and like I said I do want some exposure to the upcoming Lake Macleod well however I have found a less risky way in
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Re: EGO - Empire Oil
Care to elaborate? If you think there are better options i would love to hear your opinion...
It wouldnt be via Longreach Oil Limited would it?
Care to elaborate? If you think there are better options i would love to hear your opinion...
It wouldnt be via Longreach Oil Limited would it?
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Re: EGO - Empire Oil
Hey Leigh,
Nah its not LGO, LGO is also a spec oiler and in desperate need of cash,
BFE is the one I like for exposure to Lake Macleod, while it may only have a 7% interest in the well = 1/4 th EGO's its mkt cap is around 1/6th EGO's and this is just a side intesrest for the company as its main focus is Iron Ore in Africa
Hey Leigh,
Nah its not LGO, LGO is also a spec oiler and in desperate need of cash,
BFE is the one I like for exposure to Lake Macleod, while it may only have a 7% interest in the well = 1/4 th EGO's its mkt cap is around 1/6th EGO's and this is just a side intesrest for the company as its main focus is Iron Ore in Africa
