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EGO - Empire Oil & Gas

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Re: EGO - Empire Oil

DAZT49 said:
Disappointing ann, but its about what I expected.
IMO not commercial.
Its not a duster, but it will do till one comes along.
Click to expand...

Buyer pressure holding it up from a complete capitulation at 1c, a lot of shares dropped but if they can be soaked up at 1c a second drill announcement might keep some of the punters interested. After watching OEX drop on the poor first result of their drilling I actually expected a lot worse but it is still early.
 
Re: EGO - Empire Oil

I think these guys screwed shareholders whn they issued 225Mil shares @ .009c.

I bought into EGO on that day...then that announcement came out and I sold 15mins later.

Looks like I made the right choice...for a change.

Stopped following EGO once again.
Though historicaly, .009c could be a good longer term entry price.

I know nothing of the fundies for this company though..cash on hand etc. Not willing to put that much effort into EGO
 
Re: EGO - Empire Oil

EGO continues to stun me.

The SP barely moved during the drill, despite encountering all the right stuff on the way down. I think we all put this down to the 225m shares scalping the 30-40% profit on offer from all the keen punters taking an interest as the drill bit sank.

The drill ended in what looked like disappontment... But the SP has not plummeted, i fully expected to see the stock fall below .5c maybe even touch .3 before recovering. So who is buying up at these prices? The volume is not insignificant. Anyway it will be interesting to see what the partners decide to do with this well. I wonder if some vital (positive) info is being held back. If this well all of a sudden becomes commercial I'd be smelling a rat.

Anyway, EGO is now in my 'never trade' pile - far too much manipulation and fiddling by the directors.
 
Re: EGO - Empire Oil


Gday Datsun, a mate of mine who had traded EGO before this drill reckon they might manage to get enough gas to run a pilot light over the well lol, by the looks he wasn't far wrong, I don't think they can hold anything back legally from the market and it's been a long time between drinks, EGO and LKO are in the don't trade pile now
 
Re: EGO - Empire Oil

hi, did anyone buy on the last SP which closed on the 5th of march.. and if so what price did it come in at.
 
Re: EGO - Empire Oil

Nice run today, huge volumes, looking forward to tomorrow......will the steep rise continue?

Empire Oil & Gas NL, on behalf of the EP389 Joint Venture, is pleased to provide the following gas and condensate
flow rates for the Gingin West-1 gas and condensate discovery well.
As of 1100 hours 13 April 2010, the Gingin West-1 well has a stabilised flow rate of 7.66 million cubic feet of gas per
day (7.66 MMCFGD) and 301 barrels of condensate per day (301 BCPD) on a 38/64 inch choke. The maximum flow
rate was 8.06 MMCFGD.
The current operation is to shut the well in for the build up for pressure readings necessary for the calculations of
reserve estimates.
The Managing Director, Mr Craig Marshall stated “The associated condensate is significant equating to 40 barrels of
condensate per million cubic feet of gas. Condensate attracts a premium price to crude oil at an oil refinery.”
The Company looks forward to providing further information as it becomes available
 
Re: EGO - Empire Oil

Good announcement today.

I understand they are targetting 8 MBoe. Flow rates are good.

There is still a way to go as far as de-risking the project. In comparison, AZZ have already got 8 MBoe as 2P reserves and has similar flow rates + onshore operation.

AZZ trades at a premium due to 2P status of reserves + better exploration upside I would think in their fields

As EGO de-risk the project (translate results into 2P category), the share price may be justified above 2 cents, in my view. Until then....., keep alert to exploration updates.

I have a good time line built up and can email notifications if you want to contact me
 
Re: EGO - Empire Oil

Hello Bocky,

Just been looking at AZZ. Sounds impressive. I'll be keeping an eye on this one.

I'm a little buzzed that ego has finaly moved for me.

Excuse me but what is "2P"
 
Re: EGO - Empire Oil

2P relates to the confidence level attributable in measuring the size of a reserve.
Check your aussie stock forum inbox, i sent you something about AZZ
 
Re: EGO - Empire Oil

Cheers bocky,

I just replied to your email.

A bit disapointed in EGO today spose I'll hold for a bit longer
 
Re: EGO - Empire Oil

An aupdate is well and truly due.
Cant believe they have left us in the lurch for so long after such good reports on GW1.
The thing should be in production by now.
 
Re: EGO - Empire Oil

Datsun Disguise

What do you think now - well looks like it has the goods

Maybe you your right and someone did know something , which seems to be the case as it didnt go down low after initial drill seems less positive.

good call

anyway looks solid now at .012 to .013

will jump if deal done on gas and condensate
 
Re: EGO - Empire Oil

Is there any sign it will be back at .018 cents. I have been holding since a long time. I am expecting a jump this week, if not I will comeout quickly.
 
Re: EGO - Empire Oil


I still watch ego and have been tempted to do some trading with it, but again, it isn't moving as far as it should with a confirmed discovery. The risk as I see it is that the gas does not meet the specs required for the pipeline or the condensate is low grade. Given what I see as the previous shenanigans by the company I'm loathe to believe what they say... Will sit out I think, will miss some good profits if everything pans out, but I'm very protective of my capital these days...

Good luck to those holding - if a deal is done the sp should rise significantly, but I would also have expected the sp to rise further than it has on the confirmed flow rates and condensate recoveries - what was that ceiling again ? 1.3cents? Could just be market mistrust, you reap what you sow.
 
Re: EGO - Empire Oil

I think all the recent developements point to a good result; if the upcoming announcments support this, then it will be a different ball now for EGO

Good luck to all holders
 
Re: EGO - Empire Oil

zzzz.... wot's happening here?? It's been a month a no announcements despitethe fact that all the data was in and going to be assesssed. How long does this process take? Some news , anything would be welcomed by long term holders. Please
 
Re: EGO - Empire Oil

quiet interesting day. SP is up as well as volume. There might be good news. waiting...............................................
 
Re: EGO - Empire Oil

ASX ANNOUNCEMENT TODAY
Independent testing has shown that GINGIN WEST - 1 well has both sweet gas and condensate. Further testing is to be completed by the end of this month. The initial results indicate that the gas is suitable to be transported to sales using the existing pipelines. The condensate is to be transported by road to the BP refinery.

A step in the right direction
A happy holder
 
Re: EGO - Empire Oil

Its taken a while and still a bit to before production but...you little ripper
 
Re: EGO - Empire Oil

about one month - no posting on this thread.

Any thought on the possibile impact of this license application ?

Whereas there are lots of talks and postings on other oil penny stocks - EGO is less visited

Please see attached

Disclaimer - Do hold
 

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