EGO - Empire Oil & Gas

[doctorj]

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

I disagree ZT. EGO's leverage far exceeded that of the other parties and therefore was probably not priced appropriately. It's probably still close to the cheapest entry for the drill. Also, I believe that they have significant interest in adjacent blocks that you can reasonably expect to be considerably more valuable should either or both of these drills discover commercial hydrocarbons (and given the previous lack of success in the Canning were probably assigned a very low value by the market). AFAIK, with the exception of ARQ, none of the other parties have significant interest in the Canning.

 

[jtb]

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".

Good on ya mate, yes FAR is a lesson in patience isn't it- last April seems
oh so long ago

Bailed out a little while ago myself.

UPKA They had about 2 billion shares (1.9 something anyway) prior to the last placement of 230 mill' and they have around 40 mill' options from memory.

zt3000 "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 "

Hope so mate- prime candidate for HC hysteria if you ask me.
If not the Valentine prospect why would it be re-rated????

Did anyone know that old mate (MD) Craig is actually the son of the journalist who's report originally sparked the oil rush in WA in the 60's?
The first on-shore hole drilled for oil in the state came up with the goods (rough range)

 

[bhutos]

Re: EGO - Empire Oil

I disagree ZT. EGO's leverage far exceeded that of the other parties and therefore was probably not priced appropriately. It's probably still close to the cheapest entry for the drill. Also, I believe that they have significant interest in adjacent blocks that you can reasonably expect to be considerably more valuable should either or both of these drills discover commercial hydrocarbons (and given the previous lack of success in the Canning were probably assigned a very low value by the market). AFAIK, with the exception of ARQ, none of the other parties have significant interest in the Canning.

Hi, the intersuisse tuesday morning note stated that EMR had Canning tenure in its own right - is it just far less than EGO and therefore not significant? Also you mentioned that EMR reduced it's share in the drill - the note still had EMR at 18.8% - do you know how much it was reduced by?

 

[jtb]

Re: EGO - Empire Oil

I disagree ZT. EGO's leverage far exceeded that of the other parties and therefore was probably not priced appropriately. It's probably still close to the cheapest entry for the drill. AFAIK, with the exception of ARQ, none of the other parties have significant interest in the Canning.

Gee whiz Dj they've only got 2% more than EMR: plenty to go round don't you reckon confused:........................

 

[doctorj]

Re: EGO - Empire Oil

Talking discovery value per share relative to their current share price, not just the equity they have in the drill.

Having another look at the numbers EMR may be the cheapest entry now, depending on how much they reduced their interest and how many new shares EGO have announced they'll issue.

 

[jtb]

Re: EGO - Empire Oil

Talking discovery value per share relative to their current share price, not just the equity they have in the drill.

Having another look at the numbers EMR may be the cheapest entry now, depending on how much they reduced their interest and how many new shares EGO have announced they'll issue.

12.75% compared to EGO's 14.8%
Hopefully apples for apples I'll see EMR run to comparable MC on Canning then (40c - sweet) and then we can all be happy

Gotta go to bed.

Best of luck all

 

[surfingman]

Re: EGO - Empire Oil

Just watching this one at the moment about 10mil got purchased in 1 buy @ 1.9 will be interesting to see where this one ends up.

 

[UPKA]

Re: EGO - Empire Oil

Just watching this one at the moment about 10mil got purchased in 1 buy @ 1.9 will be interesting to see where this one ends up.

Interesting day today, it broke the previous record in volume. getting hotter nearing the completion of the drill, but i dont see support anywhere, dont u guys think its running far too quick?

 

[zt3000]

Re: EGO - Empire Oil

over 300 million shares at almost 900 trades ... does anyone know whats going on here? Thats some nice volume ...

 

[UPKA]

Re: EGO - Empire Oil

over 300 million shares at almost 900 trades ... does anyone know whats going on here? Thats some nice volume ...

900 trades.. half of that probably came from day traders... but there r large buy orders, and looks like accumulation to me...

 

[moneymajix]

Re: EGO - Empire Oil

So EGO closes at 2.2c.

The other players in this story have done very little so far - PCL, FAR, EMR...

Makes me wonder why and how much of the EGO action was daytraders and how much, if any, was accumulation.

Any comments appreciated.

How important is the .008c placement on the share price?


Thanks in advance.

 

[rub92me]

Re: EGO - Empire Oil

Well, I think you've already answered the question by providing the comparison; 99% caused by opportunistic traders imo. If anything, the 'smart' money bought before this and is more likely to be selling than accumulating at this stage...

 

[zt3000]

Re: EGO - Empire Oil

Well, I think you've already answered the question by providing the comparison; 99% caused by opportunistic traders imo. If anything, the 'smart' money bought before this and is more likely to be selling than accumulating at this stage...

Well i think todays performance so far has blown your theory out the water .... on a shocker of a day for the markets EGO is up 10% ... currently 2.4 ... im stunned

oh well ... we can only imagine what it would have done on a positive day ... roll on monday

 

[Pommiegranite]

Re: EGO - Empire Oil

Well i think todays performance so far has blown your theory out the water .... on a shocker of a day for the markets EGO is up 10% ... currently 2.4 ... im stunned

oh well ... we can only imagine what it would have done on a positive day ... roll on monday

Does anyone have any theory as to why we are seeing 20% gains on a daily basis. I've looked at the fundamentals..and just don't get it.

Is it 'mania'?

 

[moneymajix]

Re: EGO - Empire Oil

Absolutely fabulous effort by EGO.

2.7c.

Congrats to all holders.



LOL.

 

[zt3000]

Re: EGO - Empire Oil

2.7 now ... selling depth GONE ... this thing will most like move like a bullet ... is anyone following this?

 

[black_bird2]

Re: EGO - Empire Oil

I got in at 1.4c and have enjoyed the comfortable sailing so far. Saw Bigdog's morning news and thought that I had missed timed the time to sell, however, when I got back to my desk (10 mins ago) I was gob smacked at today's stellar effort. Watching for the ride to end

 

[jtb]

Re: EGO - Empire Oil

Does anyone have any theory as to why we are seeing 20% gains on a daily basis. I've looked at the fundamentals..and just don't get it.

Is it 'mania'?

Mate I think its purely hotcopper penny stock of moment.

At this price it has an equivalent market cap of my darling oiler OEL and also NWE to mention only two.
The assets and cash of both SHOULD place them miles above this level

As it is only priced on exploration upside there can be no rational explanation.

Compare it to FWL @ 90c, CUL @ 19c or CVN @ 28c recently

The herd is a wonderful thing

Take it anyway you can get it

 

[UPKA]

Re: EGO - Empire Oil

Does anyone have any theory as to why we are seeing 20% gains on a daily basis. I've looked at the fundamentals..and just don't get it.

Is it 'mania'?

there r very few sellers. when there is, usually its a large dump, probably by day traders. but majority of the ppl r accumulating and holding for the news, i profit took a lil, now waiting for the result with the rest...

 

[Pommiegranite]

Re: EGO - Empire Oil

I bought a juicy top us parcel this morning at 0.018/0.019 and just sold at 0.026. It means I am well and truly freecarrying EGO.

I moved my profits into EGO's JV partner EMR, after comparing Market Caps & Equity Stakes in the project.

It seems now EGO have a $50 mill Market Cap
and EMR have a Market Cap of $17 million.

but they both have similar stakes in the project!!!!!!!!!!