This might help. Fayette County is half way between San Antonio and Houston on E/W Interstate 10 and N/S Highway 77.
http://www.co.fayette.tx.us/images/locator_map.pdf
EKA - Eureka Energy
- Thread starter Broadside
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This might help. Fayette County is half way between San Antonio and Houston on E/W Interstate 10 and N/S Highway 77.
http://www.co.fayette.tx.us/images/locator_map.pdf
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I was looking on this one http://www.oilshalegas.com/sitebuildercontent/sitebuilderpictures/eaglefordshalemap-2.JPG
but thanks i did come across that one and google maps also had fayetteville
but thanks i did come across that one and google maps also had fayetteville
I finally bought EKA this morning, i like what i see they have done with the extra acerage in terms of a TO value which is the reason i bought in.
USD 821,500 in cash and 900,000 new EKA shares
761 Acres @75% NRI. = 570.5 Net Acres
900,000 shares at say 27c = 243,000
821500+243000=$1064500
1064500/570.5 = $1865 per net acre.
At $15M NPV per well say 50 acre spacing it can provide 11 wells $165M
Using a 20% value on future NPV , they just added something like from $16 to$32M to the value of a TO of EKA, for a little over $1M dollars. = 10c - 20c per share for a TO.
Wonder who leaked it to the market yesterday?
Smart move imo.
USD 821,500 in cash and 900,000 new EKA shares
761 Acres @75% NRI. = 570.5 Net Acres
900,000 shares at say 27c = 243,000
821500+243000=$1064500
1064500/570.5 = $1865 per net acre.
At $15M NPV per well say 50 acre spacing it can provide 11 wells $165M
Using a 20% value on future NPV , they just added something like from $16 to$32M to the value of a TO of EKA, for a little over $1M dollars. = 10c - 20c per share for a TO.
Wonder who leaked it to the market yesterday?
Smart move imo.
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I finally picked myself up a nice parcel this morning too 9th on the list.
was very happy with the news this morning, and cant wait for it to launch off some more!
where was this info leaked to the market yesterday??
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There's little that can be better than a stock that closes on its 52-week high on a day when the rest of the market is hammered. 
There's little that can be better than a stock that closes on its 52-week high on a day when the rest of the market is hammered.
What makes it even better is the fact that we could buy 1 for 6 held at only 17c. It weathered the dilution.
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I havent traded my 1 for 6 as yet...just waiting to see what happens in the next few weeks in regards to a possible takeover ...for now I holdWhat makes it even better is the fact that we could buy 1 for 6 held at only 17c. It weathered the dilution.
DYOR
EKA has always been a tightly held stock. I have never been able to trade very big orders without sending the price upwards, even in the tough times. It has broken away from being tied too closely to AUT.
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Entitlements Issue release to the ASX says that 3,607,811 shares were not taken up at 17c.
Given the close today at 32c, I can only marvel at the idiocy of some shareholders. Nice windfall for Bell Potter, the underwriters.
Given the close today at 32c, I can only marvel at the idiocy of some shareholders. Nice windfall for Bell Potter, the underwriters.
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POST 177 on 9th-August-2010, 09:44 PM
ALMOST A PERFECT PREDICTION
Good luck to all EKA holders
ALMOST A PERFECT PREDICTION
Good luck to all EKA holders
I see problems here. EKA is now in a trading halt until Friday. This is more than the announcement of a resource upgrade. For the upgrade AUT only went into a preopen for 20 minutes. It is more than just that announcement.
I smell a takeover. I say smell because I suggest it will stink. We were robbed with the opportunistic takeover of ADI and it is now possible that it will happen to EKA. I'd like to think it is a share swap with AUT as that would be a sweet smelling one. A buyout by AWE is the one I worry about.
Friday cant come soon enough!
I smell a takeover. I say smell because I suggest it will stink. We were robbed with the opportunistic takeover of ADI and it is now possible that it will happen to EKA. I'd like to think it is a share swap with AUT as that would be a sweet smelling one. A buyout by AWE is the one I worry about.
Friday cant come soon enough!
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I see problems here. EKA is now in a trading halt until Friday. This is more than the announcement of a resource upgrade. For the upgrade AUT only went into a preopen for 20 minutes. It is more than just that announcement.
I smell a takeover. I say smell because I suggest it will stink. We were robbed with the opportunistic takeover of ADI and it is now possible that it will happen to EKA. I'd like to think it is a share swap with AUT as that would be a sweet smelling one. A buyout by AWE is the one I worry about.
Friday cant come soon enough!
My guess is it won't be a takeover announcement Nioka so you can rest easy
...... They have to finalise the option to take on the new lease by friday, so my guess is they will combine the two announcements ...... I assume they can't put an estimate on the potential productivety of the new lease just yet, but maybe they will try and give a ballpark on it, which may be why they need an extra couple of days. If it produces anything like the Sugarloaf lease, it would certainly add some weight to the current SP, especially when we consider how AUT is "behaving".
Cheers.
I see problems here. EKA is now in a trading halt until Friday. This is more than the announcement of a resource upgrade. For the upgrade AUT only went into a preopen for 20 minutes. It is more than just that announcement.
I smell a takeover. I say smell because I suggest it will stink. We were robbed with the opportunistic takeover of ADI and it is now possible that it will happen to EKA. I'd like to think it is a share swap with AUT as that would be a sweet smelling one. A buyout by AWE is the one I worry about.
Friday cant come soon enough!
awe have put out an ann, re aut's reserve estimate (incl sugarkane) and stated they have only received the draft report and that they are awaiting the final report, expected shortly, maybe the same for eka
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Slightly. They've also announced that they expect income from the initial wells to start last quarter this calendar year, rather than 1st Q 2011.
Slightly. They've also announced that they expect income from the initial wells to start last quarter this calendar year, rather than 1st Q 2011.
Its always been Q4 this year. Kowalick was a hicup, that they thought would be a delay, but then along came the huge flows of Morgan, Rancho and now the turnbulls, everything is back firmly on track for cash in Q4.
Eka should get a very good kick out of this. it derisks the decision for many and blind freddy can see they are more then likely imo to significantly increase those 1P reserves over time.
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Huge amount of sellers jumped out of the woodwork this morning.. Why someone would dump $100k in one hit at 30c is beyond me unless they want to push it down or alternatively have been pushing it up to this point..
Anyway with cash flow soon on the way this looks very promising and with the lowerst market cap of the asx players in this region still looks good as a potential take over target..
Anyway with cash flow soon on the way this looks very promising and with the lowerst market cap of the asx players in this region still looks good as a potential take over target..
