EGO - Empire Oil & Gas

[philly]

Re: EGO - Empire Oil

Does anyone know what a BCF of gas is worth?

A BCF is a billion [1,000,000,000] cubic feet

Gas is sold by the 1000 cubic feet for $US3.88

therefore 1,000,000,000 /1000 x $US 3.88 = $US 3,880,000 per BCF


Using EGO estimates of b/w 20 - 33 BCF then I calculate that:

20 BCF = $US 77,600,000 and 33 BCF = $US 128,040,000

 

[Trader Paul]

Re: EGO - Empire Oil



Hi folks,

EGO ... took profits today, just ahead of the
peak of this positive time cycle, expected over
the next couple of days .....

..... our astroanalysis will have us looking for an
extreme high over the next couple of days, with a
possible double top, around next Thursday 03032011,
as the last positive time cycle in this series,
comes into play.

have a great day

paul



=====

 

[AussieBoy]

Re: EGO - Empire Oil

Some price sensitive info that's just come in a few minutes ago, which has resulted in a trading halt:

http://www.asx.com.au/asxpdf/20110224/pdf/41x0lsrdxkgb2f.pdf

I don't understand all the terminology/jargon in this. Could someone explain to me whether or not this is good or bad?

 

[philly]

Re: EGO - Empire Oil

Some price sensitive info that's just come in a few minutes ago, which has resulted in a trading halt:

http://www.asx.com.au/asxpdf/20110224/pdf/41x0lsrdxkgb2f.pdf

I don't understand all the terminology/jargon in this. Could someone explain to me whether or not this is good or bad?

Hi Aussie Boy
I am no expert but as I understand what EGO is saying is as follows-
hey look at us we just found lots of gas in the Perth Basin. Its close to existing pipelines and close to markets. We can be your new supplier. We will be more reliable because your supply won't be interupted by cyclones and fires like they unfortunately have up north. Don't rely on your gas from the NWShelf and come to us instead. We are planning on drilling more wells in this area and getting more gas to you the consumer. Please support us.

I hope that helps.
If there is a different interpretation out there then please share it with us.
Whatever slant you put on the announcement it seems the market likes it because the SP is up to 0.034 it was 0.017 last week. That's a 100% increase.
All IMHO & DYOR
I hold

 

[pilots]

Re: EGO - Empire Oil

They have nothing yet, wait until they have done the flow test. This mob has been around for years, look at how many shares they have, be VERY CAREFUL.

 

[DAZT49]

Re: EGO - Empire Oil

pilots, agree about flow tests, but it is looking good

 

[xenith69]

Re: EGO - Empire Oil

Be careful yes i agree as Craig is not the most admirable MD, but if youve traded this like myself youd be well in front!
Well done those who are 170% up in 3 weeks

 

[pilots]

Re: EGO - Empire Oil

You can bet your last $ they will be looking to raise money this month.

 

[xenith69]

Re: EGO - Empire Oil

Im chasing 4.4cents and im out with a 400% profit.
Craig will dilute the bejesus out of this now!

 

[Elliot]

Re: EGO - Empire Oil

Just having a look on CommSec under shareholders doesn't really specify any shareholders listed how come ?

 

[ixalus]

Re: EGO - Empire Oil

Just having a look on CommSec under shareholders doesn't really specify any shareholders listed how come ?

http://www.empireoil.com.au/capitalstructure/capital_structure.html this should give you a fairly accurate figure of issued shares if I'm not mistaken.

Today caused a fairly big panic in the market hitting almost 20% decline in value. I think this stock has yet to retrace back to 0.025 or even 0.03 after the gains in the past 3 weeks. Many stop losses hit for day traders who are caught playing T+3.

 

[philly]

Re: EGO - Empire Oil

They have nothing yet, wait until they have done the flow test. This mob has been around for years, look at how many shares they have, be VERY CAREFUL.

pilots, agree about flow tests, but it is looking good

Be careful yes i agree as Craig is not the most admirable MD, but if youve traded this like myself youd be well in front!
Well done those who are 170% up in 3 weeks

I too have been very cautious with this one and as a long term holder extremely patient but I think we may be onto something rather big here. I hope that I am reading this correctly if not please share your views

Red Gully-1 sings for Empire
source Upstream staff 14 March 2011 07:08 GMT
Australian junior Empire Oil & Gas has successfully flowed gas to the surface during testing of the Red Gully-1 well in EP 389, in the Perth basin, onshore Western Australia.

The company carried out production testing on the ‘D’ Sand Cattamarra formation, recording maximum flow rates of 11.7 million cubic feet of gas per day and 888 barrels of condensate per day during an initial 10 hour period.

Empire said Red Gully-1 was the the largest gas and condensate discovery and highest flowing gas well from a Jurassic reservoir onshore Western Australia.

Managing director Craig Marshall said the flow rates from Red Gully-1 and the nearby Gingin West-1 well dispelled the myth that the Jurassic Cattamarra sandstones at Gingin were tight.

He added that knowledge gained from the drilling of Red Gully-1 would be used to continue drilling the seismically defined prospects along the 60 kilometre Gingin to Bullsbrook trend.

“Additional 3D seismic is the key to the EP 389 joint venture becoming a more significant Perth basin gas producer and supplier to a market continuing to seek a diversity of supply from North West Shelf gas,” Marshall said.

“The high condensate yields of the gas at Red Gully-1 and Gingin West-1 is the ‘cream on the top’ and will be trucked to the BP refinery under a crude oil contract.”

Empire has previously announced the total recoverable gas from Red Gully-1 was estimated to be between 40.7 billion cubic feet and 58.9 Bcf of gas and between 2 million and 3 million barrels of condensate.

Empire has a 68.75% interest in Red Gully-1, with ERM Power holding a 21.25% stake and Wharf Resources holding the remaining 10%.

 

[Sharmane]

Re: EGO - Empire Oil

Can anyone please confirm what the gas is worth i was lead to believe gas was sold on contract anywhere between $6 and $10 per 1000 cubic feet

 

[philly]

Re: EGO - Empire Oil

Can anyone please confirm what the gas is worth i was lead to believe gas was sold on contract anywhere between $6 and $10 per 1000 cubic feet

Gas is sold by the 1000 cubic feet currently for about $US3.88

 

[Sharmane]

Re: EGO - Empire Oil

Is this gas worth between $6 and $10 per 1000 cubic feet?

 

[Slipperz]

Re: EGO - Empire Oil

Is this gas worth between $6 and $10 per 1000 cubic feet?

Looking at todays price action I would suspect the answer would be no.

 

[garthstar]

Re: EGO - Empire Oil

just been reading ann. well test positive. planning to build a processing plant.
if these guys r telling the whole truth, this is going somewhere.
maybe they wont dilute. instead sell the product theyve already tapped for cashflow to continue expansion.... hope the wells last, dont do a quick fizzle (cvn anyone?!)

does anyone have a pet technical indicator for determining when the next run up is starting on one of these asx small ones? they seem to operate on an 80:20 or 70:30 basis, with the 20 or 30 being the run up, the 70 or 80 being rubbish.

i hate being stuck for 2 months in consolidation if i get excited and enter too early....

gotta know when the foreplay is over and its time to enter...

 

[philly]

Re: EGO - Empire Oil

just been reading ann. well test positive. planning to build a processing plant.
if these guys r telling the whole truth, this is going somewhere.
maybe they wont dilute. instead sell the product theyve already tapped for cashflow to continue expansion.... hope the wells last, dont do a quick fizzle (cvn anyone?!)

does anyone have a pet technical indicator for determining when the next run up is starting on one of these asx small ones? they seem to operate on an 80:20 or 70:30 basis, with the 20 or 30 being the run up, the 70 or 80 being rubbish.

i hate being stuck for 2 months in consolidation if i get excited and enter too early....

gotta know when the foreplay is over and its time to enter...

Hi Garthstar,
the problem with these small ones is they don't get much brokerage cover so they are largely ignored by the market.
IMHO the SP is likely to consolidate around current prices [0.033] until either production begins [and that is some time away as the production plant is still on the drawing board] or there is a significant upgrade in reserves or a takeover bid.

Of these the reserves upgrade is the most probable. On that basis I would guess that there would not be any significant sustainable increase in the SP from current levels for bw 6-12 months.

I do note however that during drilling the SP spiked at 0.048 so that might be achievable again.
All IMHO & DYOR.
I hold.

 

[Anmar]

Re: EGO - Empire Oil

EGO seems to have a large turnover in relation to the share price.
They have obviously found a good supply of Gas and Condensate, they have supply contract in place and the engineering work for recovery of product seems to indicate that should take place sometime in August or September. Will keep a close watch on this one.

 

[Jonno J]

Re: EGO - Empire Oil

I'm very interested in this stock. I may be looking to buy in the near future. Hope it all goes well. promising.