EGO - Empire Oil & Gas

[philly]

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

From the WA department of mines and petroleum website it can take between 1 -3 months for the application to be processed and granted. Longer if there are Native Title issues which I don't think apply here.
I would guess that as soon as the licence is granted then EGO can start selling its gas
Revenue = more exploration = more interest = better sp
I am a holder

 

[Miner]

Re: EGO - Empire Oil

From the WA department of mines and petroleum website it can take between 1 -3 months for the application to be processed and granted. Longer if there are Native Title issues which I don't think apply here.
I would guess that as soon as the licence is granted then EGO can start selling its gas
Revenue = more exploration = more interest = better sp
I am a holder

Thanks Philly.

So for EGO the game plan is to wait and see.
I wanted to finish the mail in two lines. But the 100 characters restriction forced me to insert two more lines in this instance.

I do recognise the philosophy of 100 characters and no issue there.

I think the webmaster System should consider some technical checks not to have the 100 character restriction when some one actually responding an existing post as a quote. The philosophy of 100 characters minimum is well served. Just my
suggestion.

 

[Robbo T]

EGO - Empire Oil

Interesting move with announced raising. Whilst it does dilute it is an absolute minimum and results and BP news is around the corner. RG1 will be pretty exciting so the sooner the drill hits the better.

 

[Trader Paul]

Re: EGO - Empire Oil



Hi folks,

EGO ... our astroanalysis through to the end of 2010:-

25102010 ... positive news expected from EGO camp.

27-28102010 ... market may be volatile here, possibly
centred around finances ... ???

2910-01112010 ... positive spotlight on EGO expected

05112010 ... minor cycle

12-15112010 ... minor cycle

29112010 ... minor cycle

03122010 ... minor lunar cycle

10-13122010 ... positive cycle expected ... finances(?)

16-17122010 ... 2 x minor and positive cycles here

28122010 ... minor & positive spotlight on EGO

have a great day

paul



=====

 

[philly]

Re: EGO - Empire Oil

I'm expecting the SP to take off once the CR is completed.
The news coming from EGO is all good but the market has not responded at all. The SP closed at 1.2cents on Friday.

Plans are underway to commerialise the Gingin West-1 well discovery with the appointment of Momentum Engineering to design a gas and condensate processing plant as well as 3km of pipeline to tie in with either the Dampier - Bunbury pipeline or the Parmelia pipeline. In addition the drilling of the Red Gully - 1 well, a deviated well from the Gingin West - 1 well, is not far away. And finally there is growing activity in the Carnarvon Basin.

All this makes me a holder

 

[philly]

Re: EGO - Empire Oil

I'm expecting the SP to take off once the CR is completed.
The news coming from EGO is all good but the market has not responded at all. The SP closed at 1.2cents on Friday.

Plans are underway to commerialise the Gingin West-1 well discovery with the appointment of Momentum Engineering to design a gas and condensate processing plant as well as 3km of pipeline to tie in with either the Dampier - Bunbury pipeline or the Parmelia pipeline. In addition the drilling of the Red Gully - 1 well, a deviated well from the Gingin West - 1 well, is not far away. And finally there is growing activity in the Carnarvon Basin.

All this makes me a holder

Sorry in the last line I meant Canning Basin not Carnarvon Basin
And to make matters worse because I didn't pick up my error earlier I couldn't edit imy post so now I have to keep on writing to satisfy the minimum charaters requirement. There done it

 

[dna4]

Re: EGO - Empire Oil

Any comments on the share allotments today ?

I am not too sure with the news either it's good or bad.

Thanks,

 

[philly]

Re: EGO - Empire Oil

EGO announced today that the Red Gully 1 well in the Perth Basin WA is scheduled to commence drilling on 5/1/11. The farm in with Cottlesoe has been cancelled and ATM EGO retains its 68% interest. Its been a long wait and hopefully worth it. Holders have been very patient with this one and deserve to be rewarded.

 

[philly]

Re: EGO - Empire Oil

EGO announced today that the Red Gully 1 well in the Perth Basin WA is scheduled to commence drilling on 5/1/11. The farm in with Cottlesoe has been cancelled and ATM EGO retains its 68% interest. Its been a long wait and hopefully worth it. Holders have been very patient with this one and deserve to be rewarded.

The Red Gully - 1 well spudded this morning at 2.30am [WST]. The well is to be drilled to 3975m TD. The primary target is the Cattamara Coal Measures Sand Member D.
EGO retains a 68% interest in the well. Good luck to all holders

 

[DAZT49]

Re: EGO - Empire Oil

philly,
It took a long time!!
Fingers crossed for good results from target zones.
I bought in in 2008 at 2.2c, hopefully it will get somewhere near that.

 

[1nvstor]

Re: EGO - Empire Oil

philly,
It took a long time!!
Fingers crossed for good results from target zones.
I bought in in 2008 at 2.2c, hopefully it will get somewhere near that.

Since the commencement of drilling how long till resullts do you think?

 

[philly]

Re: EGO - Empire Oil

Since the commencement of drilling how long till resullts do you think?

There is a time depth curve accompanying todays ASX announcement.
If all goes well it will take about 30 days to reach the secondary targets and about 35 days to reach the primary target. All up they need to drill almost 4000 metres. Its a waiting game. Hopefully it will be worth it

 

[philly]

Re: EGO - Empire Oil

The Red Gully - 1 well spudded this morning at 2.30am [WST]. The well is to be drilled to 3975m TD. The primary target is the Cattamara Coal Measures Sand Member D.
EGO retains a 68% interest in the well. Good luck to all holders

The Red Gully well reached TD this morning. Gas was encountered in the primary target D Sands. Wire log testing to be conducted over the weekend and hopefully some positive news early next week. Good luck to all holders

 

[DAZT49]

Re: EGO - Empire Oil

Good results!!.
might get my 2.2c yet lol
certainly not the 6..8.10.15c as predicted elswhere.

 

[philly]

Re: EGO - Empire Oil

Good results!!.
might get my 2.2c yet lol
certainly not the 6..8.10.15c as predicted elswhere.

Hey Datz ATM 2.2c would be a godsend.
IMHO there is no doubt that EGO is tainted by the market and that it is always going to be a penny share no matter what it does and how much oil/gas it discovers.
I would love to be proven wrong but I've been in this one a long long time and my patience is wearing thin.
Good luck to all holders

 

[philly]

Re: EGO - Empire Oil

The Red Gully well reached TD this morning. Gas was encountered in the primary target D Sands. Wire log testing to be conducted over the weekend and hopefully some positive news early next week. Good luck to all holders

Wireline logs confirm gas saturation in the "B" and "D" sands consistent with gas shows detected during drilling.
A positive result and further testing is to be undertaken this week yet the SP remains stagnant. ASX please show some love.

 

[prawn_86]

Re: EGO - Empire Oil

yet the SP remains stagnant. ASX please show some love.

has been a pump and dump too many times before. Actual investors (not traders) want to see something solid which the company has never provided in its years of being listed.

Has been a great cash cow for the directors though

 

[philly]

Re: EGO - Empire Oil

philly,
It took a long time!!
Fingers crossed for good results from target zones.
I bought in in 2008 at 2.2c, hopefully it will get somewhere near that.

Hey DAZT49
good news from EGO [at last !!] it may have just found the largest jurassic gas discovery onshore WA.
The well encountered 2 gross gas pays, D Sands - 18m and B Sands - 56m
Recoverable gas is estimated at between 20-33 BCF
EGO plans to fast track the construction of the gas plant

The SP is edging towards 2 cents and hopefully will pass your entry price by cob today.

 

[alfaracing]

Re: EGO - Empire Oil

I've been waiting for this news for a while now...I'm excited

What a result

watch this space

 

[qeegbill]

Re: EGO - Empire Oil

Hey DAZT49
good news from EGO [at last !!] it may have just found the largest jurassic gas discovery onshore WA.
The well encountered 2 gross gas pays, D Sands - 18m and B Sands - 56m
Recoverable gas is estimated at between 20-33 BCF
EGO plans to fast track the construction of the gas plant

The SP is edging towards 2 cents and hopefully will pass your entry price by cob today.

Does anyone know what a BCF of gas is worth?