EGO - Empire Oil & Gas

[zt3000]

Re: EGO - Empire Oil

Drilling Updates!

"ARC’s mapping of the Valentine Structure at the Virgin Hills Formation
provides for having the potential to have trapped up to 1,091 billion cubic feet of recoverable gas and 19 million barrels of condensate at the P10 Level"

JV with ARC ...

1 TCF of Gas Aprox = $5 based on current gas prices

EGO has 14.8% interest.

Conservativly they strike 25% of estimated reserve ... thats 250 BCF ie $1.25 to SP

Therefore EGO's interest would be say 14% of that minus costs say 5% conservativly. Gives EGO 0.05*1.25 = 6c SP

Should they stike the estimated value 1TFC and EGO retains all of its 14.8% that gives SP 0.74c minus development costs.....

and this is only the GAS element ... add on any oil they recover

can someone verify this ... it sounds too good to be true ... thanks

 

[Jockstar73]

Re: EGO - Empire Oil

Clarification on recent ann..

Incase you havn't seen this yet.... Hmmmmmm price should head north again now.(IMO) this is a pretty significant typo !!

RE: CLARIFICATION OF THE ANNOUNCEMENT OF THE EMPIRE OIL & GAS N.L.
SHARE PLACEMENT PRICE MADE TO THE ASX ON 6 AUGUST 2007
The Directors of Empire Oil & Gas N.L. agreed, on Friday 3 August 2007, to appoint South
Pacific Securities Pty Ltd to place 287,000,000 shares in Empire at an issue price of 0.8 cents
per share (and not 0.08 cents per share as previously announced) to raise $2,296,000 with
investors who qualify under one of the exemptions in Section 708(8)(c) of the Corporations Act.

 

[surfingman]

Re: EGO - Empire Oil

Clarification on recent ann..

Incase you havn't seen this yet.... Hmmmmmm price should head north again now.(IMO) this is a pretty significant typo !!

RE: CLARIFICATION OF THE ANNOUNCEMENT OF THE EMPIRE OIL & GAS N.L.
SHARE PLACEMENT PRICE MADE TO THE ASX ON 6 AUGUST 2007
The Directors of Empire Oil & Gas N.L. agreed, on Friday 3 August 2007, to appoint South
Pacific Securities Pty Ltd to place 287,000,000 shares in Empire at an issue price of 0.8 cents
per share (and not 0.08 cents per share as previously announced) to raise $2,296,000 with
investors who qualify under one of the exemptions in Section 708(8)(c) of the Corporations Act.

You may be misinterpreting this the price is .008 per share so its at a discount of around 50% to the current market price.....

 

[Pommiegranite]

Re: EGO - Empire Oil

Can any of you offer an explanation as to what's going on with this SP?

i.e a lot of churning at 0.015 cents..and a lot of buy/sell orders either side.

Is this prelude to something?

 

[UPKA]

Re: EGO - Empire Oil

Can any of you offer an explanation as to what's going on with this SP?

i.e a lot of churning at 0.015 cents..and a lot of buy/sell orders either side.

Is this prelude to something?

its js day traders getting in n out i reckon, at these prices, each price movement is abt 6% profit, thats why there r so many buyers n sellers on both sides of the market.

 

[UPKA]

Re: EGO - Empire Oil

http://www.news.com.au/business/story/0,23636,22209469-31037,00.html

The top traded stock by volume was Empire Oil & Gas with 66.1 million shares together worth $991,209 changing hands. Its shares rose 0.2 of a cent to 1.5 cents.

you can never have enuf free publicity, i think there r plenty of eyes watching this one already, who knows where we'll be if we do hit something in a mth's time!

 

[zt3000]

Re: EGO - Empire Oil

Wawawewah .. Close at 1.7c Very nice

I cant figure this one out those ... for all we know tomorrow it will be back at 1.3c ...

Would like to see this one run past 2c ... will be interesting to watch non the less

 

[UPKA]

Re: EGO - Empire Oil

Wawawewah .. Close at 1.7c Very nice

I cant figure this one out those ... for all we know tomorrow it will be back at 1.3c ...

Would like to see this one run past 2c ... will be interesting to watch non the less

if it does get back down to 1.3c, I'll top up, according to the stock analysis' report, the valentine project value it at 20c+, even if we take 10% of such value running up to the completion of the drill, thats 2c! so we'll probably see 2c very very soon!

 

[bhutos]

Re: EGO - Empire Oil

if it does get back down to 1.3c, I'll top up, according to the stock analysis' report, the valentine project value it at 20c+, even if we take 10% of such value running up to the completion of the drill, thats 2c! so we'll probably see 2c very very soon!

Had to settle for 1.5 today, I'll definitely be buying back in if it comes back to 1.3.. I'm only really playing with this though so i'll be holding come oil or come dust to make it interesting.

 

[black_bird2]

Re: EGO - Empire Oil

Although another good volume day, looking at Stockness it doesn't appear to be big players making the moves, but obvious interest holding over the past couple of weeks! Holding on to this one and waiting results after the drill like others.

 

[zt3000]

Re: EGO - Empire Oil

if it does get back down to 1.3c, I'll top up, according to the stock analysis' report, the valentine project value it at 20c+, even if we take 10% of such value running up to the completion of the drill, thats 2c! so we'll probably see 2c very very soon!

Where did u find this 20c+ valuation? Can u point me in the right direction cheers

I dont like this min 100 character rule ... i have to elaborate with a waste of text just so i can post something ..

 

[UPKA]

Re: EGO - Empire Oil

Where did u find this 20c+ valuation? Can u point me in the right direction cheers

I dont like this min 100 character rule ... i have to elaborate with a waste of text just so i can post something ..

doctorj pointed out a broker report shown on FAR's website:

http://www.far.com.au/research/

its the first one, bt thats the full value of the estimated gas n oil reserve, so i think its a wild guess...

 

[zt3000]

Re: EGO - Empire Oil

Up to 2c today! Where is this heading?? Looks like North and with avengance ha ha. Will be interesting to see if there is substance to this or just hype.

 

[black_bird2]

Re: EGO - Empire Oil

Appeared to hit resistance at 2c. If it keeps going at it's current rate for the month, DrJ will be happy come the stock tipping results!! Nice start to the month.

 

[UPKA]

Re: EGO - Empire Oil

Appeared to hit resistance at 2c. If it keeps going at it's current rate for the month, DrJ will be happy come the stock tipping results!! Nice start to the month.

I dont see the 2c as a significant resistance, the 1.9c was taken out with 2 huge orders worth around $600k+, seems like accumulating to me. This is a very risky project. with huge buy orders seen over the last couple of weeks, looks like the investors r very confident, its a good sign!

 

[jtb]

Re: EGO - Empire Oil

Up to 2c today! Where is this heading?? Looks like North and with avengance ha ha. Will be interesting to see if there is substance to this or just hype.

Not wanting to rain on anyones parade but if we remember that after the latest placement EGO will have about 2.3 BILLION shares on issue!!!!!!!!!!!!!! - 2c puts their MC @ approx $50 million up from $15mil' only a couple of weeks ago.
Considering rough range is just about knackered thats a fair premium simply on the upcoming Canning drill

Don't get me wrong I'm as big a canning bull as anyone but I can see a lot of newbies getting fried on this due to the low entry price.

It pays to be lairy of companies who's admin expenses exceed their exploration

 

[doctorj]

Re: EGO - Empire Oil

DrJ is quite happy as he bought a little while back at $0.007 but would be much happier if FAR started moving as well.

 

[UPKA]

Re: EGO - Empire Oil

Not wanting to rain on anyones parade but if we remember that after the latest placement EGO will have about 2.3 BILLION shares on issue!!!!!!!!!!!!!! - 2c puts their MC @ approx $50 million up from $15mil' only a couple of weeks ago.
Considering rough range is just about knackered thats a fair premium simply on the upcoming Canning drill

Don't get me wrong I'm as big a canning bull as anyone but I can see a lot of newbies getting fried on this due to the low entry price.

It pays to be lairy of companies who's admin expenses exceed their exploration

Interesting point there, jtb do u know the total number of shares on issue? there r more holders than sellers, all expecting something positive... i cant imagine wat would happen if its a duster...

 

[zt3000]

Re: EGO - Empire Oil

We can probably eliminated the possibilty of EGO's SP movement due to valentines prospect ... non of the other JV partners have moved significantly or at all ... although we may assume that EGO is now attracting investors and is being re-rated ... who knows

 

[zt3000]

Re: EGO - Empire Oil

Interesting point there, jtb do u know the total number of shares on issue? there r more holders than sellers, all expecting something positive... i cant imagine wat would happen if its a duster...

UPKA ... there's always the strategy buy on rumour and sell before the facts come out haha ... but then again ... is that any fun?