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EGO - Empire Oil & Gas

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Re: EGO - Empire Oil

zt3000 said:
:eek::eek::eek::eek::eek: Any of you witnessing this?

4.9 and still going ... some large orders too ... this is crazy
Click to expand...

You bet I'm watching! It's a beautiful thing! This is the most exciting stock I have ever owned by far!
 
Re: EGO - Empire Oil

Holy Cow lads. I had a sell set yesterday at 0.042 with the thought that it might make 0.045 but I am gob smacked at today's rally so far. It has been a nice ride and heeding Pommie's signature I got out. What a stellar run.
 
Re: EGO - Empire Oil

amazing stuff, never seen this before, made some nice cash
dump has started hope they all flow into Emr now :D:D:D
 
Re: EGO - Empire Oil

Theres the dump ahahh back we go to 4.8c ... it had to happen .. i was watching the depth update and it was insane ... no sellers so it kept getting bought up ... now we have people in losing positions who have to decide what to do with them
 
Re: EGO - Empire Oil

This is extraordinary. EMR going down, EGO continuing to go up. Are people in EMR panicking, thinking they are missing out and selling to get into EGO?

Somebody come and tie me up please, can't keep my hands off the sell button. Decided I was going to sit tight on this one but it's not easy :)
 
Re: EGO - Empire Oil

Gee, it is a long time since I actually caught one as sweetly as this :D

Bought these in the closing auction of the last day it was 10c on the 27/7

Took my money and a 20% profit out at 3c, I have got 60% of my original purchase as a free carry for the ride.

Unbelievable :eek:
 
Re: EGO - Empire Oil

14/08/2007 6:01PM Change of Director`s Interest Notice - Appendix 3Y

one of the directors sold all of his shares except for 19,000

do you think this means he thinks the stock is overvalued? does he not have faith in the project?
 
Re: EGO - Empire Oil

chicken8 said:
14/08/2007 6:01PM Change of Director`s Interest Notice - Appendix 3Y

one of the directors sold all of his shares except for 19,000

do you think this means he thinks the stock is overvalued? does he not have faith in the project?
Click to expand...

i think he's js doing a bit of profit taking himself. he still holds 16m options, prob EGO is over bought now at these price levels.
 
Re: EGO - Empire Oil

Can anyone confirm rumours going around about "dry" well? Very concerned .. paid a bit more for these
 
Re: EGO - Empire Oil

GOSAFAS said:
Can anyone confirm rumours going around about "dry" well? Very concerned .. paid a bit more for these
Click to expand...
To put it bluntly people are full of it. It's around 25 days to target depth at which point they would expect to have intersected the target. Then we'll know if it is dry. Then they'll run wireline logs (or somewhere on the way down to TD) to identify how much pay there's likely to be. Then flow testing and then we might know what it's worth or if it's commerical.
It is a long way below ground people. No one will know any more about the likelihood of success for a couple of weeks.
That said, drilling thousands of feet below ground is risky business and fails more often than than it succeeds.
 
Re: EGO - Empire Oil

Fair enough ... lots of rumour mongers around ... doesn't help the general state of the market. Lets hope there'e some light at the end of the tunnel.
 
Re: EGO - Empire Oil

GOSAFAS said:
Fair enough ... lots of rumour mongers around ... doesn't help the general state of the market. Lets hope there'e some light at the end of the tunnel.
Click to expand...

as expected, EGO was overheated, ppl r buying up without valuation on the risks involved in these kinda of drills. now probably a few of them r either got scared of the XAO pull back, or finally realise the risk they r taking.
 
Re: EGO - Empire Oil

it was bound to fall sooner or later....good open and high for they day though....
just like to know, anyone in this one for the long term ??
 
Re: EGO - Empire Oil

emily said:
it was bound to fall sooner or later....good open and high for they day though....
just like to know, anyone in this one for the long term ??
Click to expand...

it will only rebound if investors still stick with them, if the market does recover, may be alot of them will jump towards EMR. EGO had its run, prob moving away for EMR now. and by the look of things, most buyers r holders for the valentine result.
 
Re: EGO - Empire Oil

emily said:
it was bound to fall sooner or later....good open and high for they day though....
just like to know, anyone in this one for the long term ??
Click to expand...

Yes I'm still in this and intend to hold long. EGO has an exciting exploration year ahead of it. But if it does anything like it did yesterday again I will take some profits and try to buy back in again at a lower price.
 
Re: EGO - Empire Oil

check out this announcement by Arc - looks like they're confident

ASX ANNOUNCEMENT
Wednesday 15 August 2007
The Canning Basin exploration program ARC’s up
ARC announced on Monday 13 August the spudding of the Valentine-1 exploration well near
Derby in northwest Australia’s Kimberly region. Valentine-1 marks the start of a major oil and
gas exploration program in one of the most under-explored Palaeozoic aged basins in the
world – the Canning Basin.
ARC has rapidly established holdings in excess of 75,000 square kilometres in the Canning
Basin, giving it by far the largest acreage position in the Basin. ARC’s holdings include a wide
variety of geological play types, with more than 30 prospects and leads already identified with
very significant potential for substantial quantities of both oil and gas.
ARC’s interest in the Basin was sparked by its similarities to other Palaeozoic basins around
the world where prolific reserves of oil and gas have been discovered. Furthermore, the
factors that had previously made exploration in the Basin difficult have now been largely
overcome. ARC is now initiating the re-evaluation of the Basin with the spudding of Valentine-
1.
The Valentine-1 well is targeting a large gas-condensate prospect. It is the culmination of the
last 12 months of work by ARC to establish its commanding acreage position in the Canning
Basin, review and re-evaluate massive volumes of geological and geophysical data, identify a
series of high quality prospects and put in place the logistics for the start of a major exploration
program.
Commercial Potential
Exploration in the Canning Basin has historically been hampered by the region’s remoteness
and lack of infrastructure. However, the rapid development of the northwest has seen the
infrastructure put in place to facilitate modern and effective exploration and production of oil
and gas in onshore northern Australia. This has been amply demonstrated by the successful
and profitable production and export of oil from the Blina Field (now 100% owned and
operated by ARC).
ARC’s proven early production system for oil, developed and demonstrated by the company in
the Perth Basin, will allow even small volumes of oil discovered in the Canning Basin to be
quickly commercialised. For larger discoveries, ARC’s early production system will allow
immediate cash flow to fund the costs of a full field development.
The development of gas from the Basin will be underpinned by the gas sales contract with
Alcoa that ARC has already put in place. The existence of a firm offtake agreement with such
a significant customer will allow even modest gas discoveries to be rapidly developed.
Furthermore, the continued strengthening of the market for natural gas means gas falling
outside the contract with Alcoa will find a ready market.
 
Re: EGO - Empire Oil

Doesn't really say anything. They more than likely wouldn't be drilling it if they didn't think it was a decent chance (on a risked basis). Just means they've started drilling.
 
Re: EGO - Empire Oil

haha yeh on re-reading it i agree. prob was trying to read into it what i wanted to read about the drilling. although the fact that Arc has "rapidly" acquired tenements in Canning does highlight the potential.

time will tell i guess
 
Re: EGO - Empire Oil

Wow, 5 days without a post in this thread, everyone must've made their money and moved on.

Announcement out after market closed -

The Directors of Empire Oil & Gas N.L. wish to advise that Mr Neil Joyce, a Director of Empire Oil & Gas N.L. advised the Company that Demandem Holdings Pty Ltd, of which he is a Director, has exercised its option to acquire 6.5 million shares in Empire Oil & Gas N.L at the exercise price of 1 cent per share thereby increasing his beneficial shareholding in Empire Oil & Gas N.L.
from 19,231 shares to 6,519,231 shares.
Mr Joyce holds 6.5 million Empire Oil & Gas N.L. options where such options are each exercisable at 1.5 cents to a fully paid ordinary share in the Company. All options expire on 28 November 2010.
 

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