EGO - Empire Oil & Gas

[philly]

Re: EGO - Empire Oil

I don't get it with all this positive news about and the SP is retreating! It may as well pack up the drill bit and go back to the Canning Basin and do nothing that way it would save the cost of drilling and the SP would be the same. Is EGO such a dog that no one wants to touch it and the market just ignores it or is there something more sinister happening out there? I'm a long term holder and know that with EGO patience is indeed a virtue but this time it seems to be on the money with this well. Wots going on?

 

[daki]

Re: EGO - Empire Oil

i think it's just the market atm moment, BUL had great news as well and the market hasn't responded well to it as well, so I'd say patients

 

[Putty7]

Re: EGO - Empire Oil

Bought back in today at .013c again, the price appears to be stable at that for the moment, the first 225 million from the cap raising at .009c would have to be close to gone after the volume of the last 3 trading days, hopefully the options wont come into play for a while and we have a good announcement today.

 

[Datsun Disguise]

Re: EGO - Empire Oil

1.3c continues to be the golden number 55m traded at the price today, accounting for 96% of trade.

With the volumes traded this has to be either an elephant trader dropping a huge parcel (and doing it patiently) or a thoroughly confused market that half thinks EGO is a goer and half thinks it's got nowhere left to run....

If it's a confused market then hopefully tomorrow will provide some clarity and if it's an elephant, for crying out loud give the rest of us a break!!!!

 

[dandyjac]

Re: EGO - Empire Oil

1.3c continues to be the golden number 55m traded at the price today, accounting for 96% of trade.

With the volumes traded this has to be either an elephant trader dropping a huge parcel (and doing it patiently) or a thoroughly confused market that half thinks EGO is a goer and half thinks it's got nowhere left to run....

If it's a confused market then hopefully tomorrow will provide some clarity and if it's an elephant, for crying out loud give the rest of us a break!!!!

You say you are confused I'm confused, here you have a company drilling for gas getting positive results daily on there reports yet it's supressed in s/p. I know there has been a sh-t load of options hit the market which you would think would have been absorbed by know, let's hope they have a bit more positive info tomorrow which may put a rocket under the s/p

 

[Datsun Disguise]

Re: EGO - Empire Oil

I reckon if we get a result then surely the selling pressure will disappear and then surely we'll see it take off, I've been watching it closely and I reckon it has been some stock broking graduate's job to sit and sell into the demand. With such positive indications increasing with depth your average investor wouldn't be creating this much sell pressure, surely.

time will tell, the good thing is not too much time is required!

 

[dandyjac]

Re: EGO - Empire Oil

I reckon if we get a result then surely the selling pressure will disappear and then surely we'll see it take off, I've been watching it closely and I reckon it has been some stock broking graduate's job to sit and sell into the demand. With such positive indications increasing with depth your average investor wouldn't be creating this much sell pressure, surely.

time will tell, the good thing is not too much time is required!

Hi Datsun : Do you think they will have some result tomorrow or do you think it maybe friday based on there current depth

 

[Datsun Disguise]

Re: EGO - Empire Oil

They are very close, but it depends on how long the blow out gear testing takes - short answer is I don't know. I'll be watching carefully though and have a stop in place in case i miss the news and it's bad (however unlikely that seems at the moment).

good luck all, this one sure has sucked to hold, hopefully we'll be rewarded for it...

 

[dandyjac]

Re: EGO - Empire Oil

They are very close, but it depends on how long the blow out gear testing takes - short answer is I don't know. I'll be watching carefully though and have a stop in place in case i miss the news and it's bad (however unlikely that seems at the moment).

good luck all, this one sure has sucked to hold, hopefully we'll be rewarded for it...

Hey datsun some big orders went in between 12.23 - 12.32 today maybe some good news on the horizon

 

[Putty7]

Re: EGO - Empire Oil

I think you will find that Datsuns notorious elephant dropped shares on the buyers that had accumulated during the morning at .013c, waiting for todays announcement but have a feeling it will be a nothing announcement and will leave us waiting for Friday and more likely Monday, I hope Im wrong but the "Baby Elephant Walk" music is still playing.

 

[dandyjac]

Re: EGO - Empire Oil

Todays ann getting better with oil shows I think you could be right putty7 will make us wait till after weekend

 

[Putty7]

Re: EGO - Empire Oil

Yes the frustrating thing is that if they hadn't done the mates rates cap raising the SP would more than likely be sitting in a good position now, none of the announcements have been bad enough to warrant share drops by traders in volume as they haven't had a look at the main objective yet which a lot would be holding out for (OEX was crucified yesterday because of a nothing announcement after they had finished drilling their first well, surprising because they have a second well to drill but the 2 drill, 2 chances risk vs reward senario is gone).

EGO still has another hole to drill if they go down that road, it makes sense to do so while they are set up, saves site preparation and mobilization costs which are not insignificant to a minnow explorer. So, we are in the paydirt so to speak with the possibility of the second drill to follow, the upside for the SP is they seem to have set .013c as the target price to unload rather than belting the SP down further than they have to, buyers seem to still happy to pick them up at .013c for the moment.

 

[Putty7]

Re: EGO - Empire Oil

Buyers support at .013c finally dried up, light breachs into .012c near day end to leave the SP at .012c after a bit of post 4pm playing around, it will be interesting to see if the mass dumping continues on into .012c tomorrow if buyer support at .013c remains withdrawn.

 

[Datsun Disguise]

Re: EGO - Empire Oil

Well they've breached the Sandstone and the gas shows aren't much different to what was in the A sands, I would have expected the B sand (the first target) to provide some higher quality shows and perhaps free flowing gas. I think the risk has increased on this one - reflected by a drop down to the 1.1c mark.....

 

[Putty7]

Re: EGO - Empire Oil

I wouldn't get to jumpy Datsun, Bootine-1 which is 500m away flowed from the D sands, Monday will be the day I think.

 

[dandyjac]

Re: EGO - Empire Oil

I wouldn't get to jumpy Datsun, Bootine-1 which is 500m away flowed from the D sands, Monday will be the day I think.

Fully agree putty I think the punters are getting very jumpy shares getting gathered up in large chuncks at 1.1 monday will be the day

 

[Datsun Disguise]

Re: EGO - Empire Oil

Fully agree putty I think the punters are getting very jumpy shares getting gathered up in large chuncks at 1.1 monday will be the day

I hit my stop at 1.1c....... I'll have to watch closely Monday now for a re-entry. Could be opportunity knocking if everyone gets spooked by the B sands and then the D sands produce. Let's see.

 

[prawn_86]

Re: EGO - Empire Oil

monday will be the day

As far as i can tell EGO is similar to LKO in that it is essentially a co designed to be a money spinner for the management more than the investors. FOr years now both co's have been going to have 'the day' some time in the near future, but it has never eventuated.

 

[Putty7]

Re: EGO - Empire Oil

As far as i can tell EGO is similar to LKO in that it is essentially a co designed to be a money spinner for the management more than the investors. FOr years now both co's have been going to have 'the day' some time in the near future, but it has never eventuated.

Fully agree Prawn,

40 million directors options dumped early on
96 million directors options dumped a while ago
225 million from cap raising dumped since Friday
225 million options from Cap raising still going through

It sucks, they have shafted the pre spud rise for their own gains and guaranteed profits at the expense of their shareholders, the hole in question should hit the D sands from which Bootine-1 flowed over the weekend, so a gain if any is left to be had should happen after that. If its a duster the SP will be in the basement next week

 

[dandyjac]

Re: EGO - Empire Oil

whats everbodys feeling to EGO Do you still feel EGO is on the money with this drill or is she curtains till the next drill, there report seems a bit mixed on the first cover page they said prognosis remains high to Bootine-1 also still signs of gas yet everyone appears to be bailing out.
Not sure what to think not an expert when it comes to Gas