Australian (ASX) Stock Market Forum

EGO - Empire Oil & Gas

Jump to new
Re: EGO - Empire Oil

I agree Bhutos - I'm interested to see what happens regarding a bottom after this latest duster. After Moriary I think we saw 1.2c (?) or there abouts, but that was without a follow up well to keep people interested. I'd say that a 1.5c stop has a reasonable chance of getting triggered tomorrow - but really don't expect to see it go much below that. We've had a good week so far on the ASX, tomorrow might be a down day which could assist with some downward movement.

I'm looking for a buy some time this week in preparation for the LM and SB 'ramping' as you put it, or enthusiasm as I think of it. Ideally at 1.3c but probably more like 1.6c.

Of course, as my bottom drawer & list of near misses confirms, I've been wrong before and will be wrong again (probably more than once...)

BESB - Buy Early, Sell Before.
 
Re: EGO - Empire Oil

I can't get over the volume this stock does,

Its like every trader in Australia is on it or something, I mean almost 250M traded today, thats a qtr of a billion shares traded!!!!!!!!!!!!!!


Anyway some observations from the sidelines

In July/August 2007 EGO ran from 1c -6c on the back of their 15% interest in Valentine Well which was targeting 200M bls oil + 1.2 TCF Gas = NET to EGO 30M bls + 180 BCF Gas

Recently EGO ran from 1.6c - 2.4c on the Back of 20% interest in Star Finch well targeting 25M bls of oil + 50 BCF Gas, net to EGO = 5m bls oil + 10 BCF Gas

In 2 weeks Lake Macleod will spud 30% interest in 150M bls oil = Net to EGO 45 M bls of oil, even more than the Valentine well and it ran to 6c on the back of that, so really how far will it run this time is the question


It will be interesting to see what traders do with old EGO,

For me BFE is my exposure to Lake Macleod as its not even priced in, let alone the large Iron ore project they have
 
Re: EGO - Empire Oil

P&A Star Finch,

Now moving on to Lake Macleod, will take a few weeks to spud, may fall back between now and then, surprised it already hasn't, another 40 odd million shares traded
 
Re: EGO - Empire Oil

yeah i thought it was going to drop significatly again on confirmation that there was nothing at Star Finch but its held steady at .018 - .019 ......
 
Re: EGO - Empire Oil

Yeah YT i even put my toe in the EGO pond today ....suppose if ya cant beat em might as well join em hey .....one thing you can say about EGO she sure is liquid all right massive volume of late ....... just hope it doesnt attract the turd and the blowfly theory because that would make me a blowfly and EGO a turd LOL :eek:
 
Re: EGO - Empire Oil

Datsun Disguise said:
I agree Bhutos - I'm interested to see what happens regarding a bottom after this latest duster. After Moriary I think we saw 1.2c (?) or there abouts, but that was without a follow up well to keep people interested. I'd say that a 1.5c stop has a reasonable chance of getting triggered tomorrow - but really don't expect to see it go much below that. We've had a good week so far on the ASX, tomorrow might be a down day which could assist with some downward movement.

I'm looking for a buy some time this week in preparation for the LM and SB 'ramping' as you put it, or enthusiasm as I think of it. Ideally at 1.3c but probably more like 1.6c.

Of course, as my bottom drawer & list of near misses confirms, I've been wrong before and will be wrong again (probably more than once...)

BESB - Buy Early, Sell Before.
Click to expand...

I honestly would have expected at least 1.7 today. It was propped up during the morning which would have helped.. but to not drop at all was pretty impressive... we'll see how that holds up with a week or two's wait. I didn't think it would do a repeat of Moriary, but to not budge!
 
Re: EGO - Empire Oil

I watch the huge volumes of this one, but it does not seem to go anywhere other than in a reasonably tight range.

It has got to be due to either tank or break north surely. Can't just keep haging around 2c + or -

wonder why?
 
Re: EGO - Empire Oil

LRG said:
I watch the huge volumes of this one, but it does not seem to go anywhere other than in a reasonably tight range.

It has got to be due to either tank or break north surely. Can't just keep haging around 2c + or -

wonder why?
Click to expand...

Pulls in some good brokerage fees.Must be a fever still lingering from the last mad rush to nothing.
 
Re: EGO - Empire Oil

LRG said:
I watch the huge volumes of this one, but it does not seem to go anywhere other than in a reasonably tight range.

It has got to be due to either tank or break north surely. Can't just keep haging around 2c + or -

wonder why?
Click to expand...

I think the reason why is that any slight increase there is a lot of ppl wanting to take short term profits - similiar to day trading - basically a dump and then re-buy in the high teens again.
 
Re: EGO - Empire Oil

Yeah Ans I agree,

The volume is so high because people love to buy this and sell it for a 1 tick profit ie in at 1.8c sell at 1.9c

It doesn't look like it will fall much further given we have had some very weak days on the asx and it has still held 1.7c, so maybe it won't break this support (though it may)

Will be interesting to see how high it runs on the back of Lake Macleod
 
Re: EGO - Empire Oil

i'm surprised that it's still holding up so well considering not much is currently happening. Can't wait for Lm spudding to begin
 
Re: EGO - Empire Oil

Im with you bowser, i bought my first lot of ego today @ 1.8c. maybe i should have waited a bit longer and bought a bit cheaper, but im in:). Could anyone explain to me what spudding means, is it simply the start of drilling??
So.. are week or so away from "spudding"?
 
Re: EGO - Empire Oil

YOUNG_TRADER said:
I can't get over the volume this stock does,

Its like every trader in Australia is on it or something, I mean almost 250M traded today, thats a qtr of a billion shares traded!!!!!!!!!!!!!!


Anyway some observations from the sidelines

In July/August 2007 EGO ran from 1c -6c on the back of their 15% interest in Valentine Well which was targeting 200M bls oil + 1.2 TCF Gas = NET to EGO 30M bls + 180 BCF Gas

Recently EGO ran from 1.6c - 2.4c on the Back of 20% interest in Star Finch well targeting 25M bls of oil + 50 BCF Gas, net to EGO = 5m bls oil + 10 BCF Gas

In 2 weeks Lake Macleod will spud 30% interest in 150M bls oil = Net to EGO 45 M bls of oil, even more than the Valentine well and it ran to 6c on the back of that, so really how far will it run this time is the question


It will be interesting to see what traders do with old EGO,

For me BFE is my exposure to Lake Macleod as its not even priced in, let alone the large Iron ore project they have
Click to expand...

Well after watching this for over a week now I think it may have actually bottomed around 1.7c/1.8c

So I have jumped in for a few at 1.8c

Just like CFR I think the punters and crazy traders will take this up with their over exuberance anf just like CFR I intend on selling into the strenght when/if it does move up so as to remove my risk and lock in profits

Considering this is the biggest Oil well EGO has ever had you'd expect a bit of interest


High risk spec DYOR
 
Re: EGO - Empire Oil

YT, after seeing your last post I jumped in too for a few at 1.8c.

I am holding about 7 species now (but not NSL anymore - out at 4c:banghead:)

Surely 1 or 2 of these must go up in value in the next few weeks instead od DOWN!

Please some of you 7 species go UP!!!

:mad:
 
Re: EGO - Empire Oil

lol

Maybe this will comfort you somewhat, these last few weeks/months have been some of the toughest I and many other brokers, analysts, investment bankers and dealers have seen in 5yrs+

But EGO is a spec trade, so make sure you treat it as such, nothing more nothing less

It has held up very well considering the slaughter we see on the mkts daily
 
Re: EGO - Empire Oil

Trader Paul said:
Hi folks,

EGO ..... figure it will be mostly negative now, until about 11082008,
when the first positive cycle in the next round should arrive ... :)

18072008 ... negative cycle ... finances???

29072008 ... 2 cycles & negative spotlight on EGO ...

11082008 ... minor and positive cycle

13-14082008 ... minor and positive news expected

29082008 ... 2 cycles = minor & positive light on EGO

03-05092008 ... 2 cycles to bring minor news ... ???

29092008 ... 2 positive time cycles

13-14102008 ... significant and positive cycle

24102008 ... minor and positive cycle

29-30102008 ... positive spotlight on EGO ..... :)

07-10112008 ... significant & positive news expected here

17-18112008 ... minor and positive ... finances???

25112008 ... minor cycle

28112008 ... minor cycle

12-15122008 ... significant and negative ... finances??

16122008 ... minor and positive news expected

24-29122008 ... minor and positive light on EGO

07-08012009 ... significant and negative news expected here

More later.

have a great day

paul

=====
Click to expand...

:)

Hi folks,

EGO ..... positive sentiment should start to return next week, with the
arrival of the first cycle, in the next round of 9 positive time cycles,
between now and mid-November 2008 ... see post above ... :)

happy days

paul

:)

=====
 
Re: EGO - Empire Oil

Trader Paul

It didn't return?

Your fib no's or elliot wave theory or what ever is ****e.

Please explain - was it the cold snap, the moon, solar flaring?

maybe russia invading geogia, or it could be the olympic factor.

OR, is it really just cause the whole share market, commodity prices and world sentiment is just crap at the momment and wont come good for 6 mths to 7 years!! :2twocents
:D
:(
 
Re: EGO - Empire Oil

expected date for mobilisation of DCA rig 7 onto the Lake MacLeod 1 location is expected to be 28th August 2008.
Click to expand...
EGO co announcement 14/8

It's seems EGO is out of favour at the moment, just about to stick the needle in and very little price action to speak of. It's funny how we apply experience, these are different targets, I haven't seen anything to suggest that this is a lower probablility of success than Star Finch but no-ones all that interested this time.

Might be one to stick a rising buy order on the day before hitting expected depth. Still got my falling buy in place for a lucky dip - pretty sure a failure at LM will produce a nasty SP response.....

Let's see!! Good luck to the holders. (not one)
 
Re: EGO - Empire Oil

they owe me 2.5c, if they get to that or better i'm getting out. Too much stressing:banghead:

there has been some slight movement in the past day or so up to 1.9c but not quiet what i expected. a no oil strike would be really bad
 
Re: EGO - Empire Oil

LRG said:
YT, after seeing your last post I jumped in too for a few at 1.8c.

I am holding about 7 species now (but not NSL anymore - out at 4c:banghead:)

Surely 1 or 2 of these must go up in value in the next few weeks instead od DOWN!

Please some of you 7 species go UP!!!

:mad:
Click to expand...

Got out ysterday at 1.7 for a slight loss.

Needed some cash back.

still holding s..t stocks like AOM, CAG, LOD etc that have gone south and no one talks about with enthusiasm anymore!!

one day I may even get back to even if i hang on or maybe loose more!

times are just BAD at the mommennt for the pennies :banghead:
 

Similar threads

mobcat
Riot by umemployed stockbrokers
Replies
5
Views
4K
Temjin
Temjin
Top