EKA - Eureka Energy

[Kremmen]

Huge amount of sellers jumped out of the woodwork this morning.. Why someone would dump $100k in one hit at 30c is beyond me

Really? I think there's an obvious reason. The 1:6 allotment arrived yesterday.

A few people have said to themselves "76% in a fortnight -- I'll take that" and sold. No matter how good this stock is, you'll seldom get that kind of gain anywhere.

 

[Sdajii]

Tragic, I know! I'm doing my bit to keep you happy, I just pushed the offer price up from 28c to 30c. I'm glad to be doing my bit, so selflessly

I've been waiting for the day to come when the new shares become available. I must admit I hoped to get them a bit cheaper (originally I hoped to buy some for under 20c! Haha!), but I'm not tempted to take my 75ish% profit, I'd rather help others to realise theirs

I'm glad this happened on what would have otherwise been a moderately negative day for EKA anyway - any jitters on a day when new shares are on issue is going to encourage profit taking.

Thanks to the sellers

 

[Lert]

After waiting patiently all day picked up a parcel at 28c at the close. These should go nicely with my AUT holdings.

 

[Sdajii]

After waiting patiently all day picked up a parcel at 28c at the close. These should go nicely with my AUT holdings.

Nice one I couldn't help myself and bought some more at 28c, added a reasonable chunk to my holdings today, very happy! Well done to those who bought in at 27.5c! I'd like to see them drop further tomorrow so I can pick some more up, but I don't really like my chances. Fingers crossed though I think we'll be saying goodbye to prices in the 20s next week, or maybe tomorrow. Just speculations of course, but I expect the profit takers would mostly have acted today.

 

[Sdajii]

Picked some more up at 26.5c! I'd love to see them drop more, if they do I'll top up further, but I think I have almost as much as I want now. Good times!

 

[J&M]

Picked some more up at 26.5c! I'd love to see them drop more, if they do I'll top up further, but I think I have almost as much as I want now. Good times!

yeah i also picked up at 26.5 cants then went up again
I had to sell something which has not moved for a while
I don't see it dropping to the 21c which i was after
So will now wait and see

James

 

[lemontree]

Picked some up myself at 27c! was hoping for 26c but that did not happen, eitherway im happy to be holding EKA for the moment

 

[kyrondgm]

jump on lads...EKA has dumped 20% in 2 days...more bargains to be picked up

 

[mattyhammer]

I'm offloading some other stocks to get more. EKA is filling the gap nicely. Bouncing off 24c this morning which is the high before the recent breakout. Hoping it should consolidate up around 28c over next few days before settling in above 30c and working its way skyward. Nice ones!!!

 

[jancha]

Picked some more up at 26.5c! I'd love to see them drop more, if they do I'll top up further, but I think I have almost as much as I want now. Good times!

Wont be good times at this rate unless you feel like it's a bargain buy @ 22c now instead of 28c.
I personally would like to see it head the other way!!

 

[Sdajii]

Wont be good times at this rate unless you feel like it's a bargain buy @ 22c now instead of 28c.
I personally would like to see it head the other way!!

I do think it's a bargain at 22-23c, and wish I'd waited a bit longer rather than rushing in straight after the 17c shares started being sold. having said that, I still think they'll be back up above 30c in the not too distant future. Unfortunately I have had some unforeseen expenses come up, otherwise I'd be topping up further at around 23c.

I think the 17c shares coming into peoples' hands at a jittery time has encouraged profit taking, and that has also brought AUT down, both by spooking people and also by encouraging them to sell AUT and buy EKA.

To me it's a pretty simple situation. We have a reasonably solid idea of how much oil we can get out of the ground we have, how much it will cost to do that, and it just depends on how quickly we can get that done (which we have some idea of) and what the price of oil does (which I see ultimately being our main price determining factor).

I don't think spending some time back in the mid to low 20s is going to hurt in the long run, so it's just a chance to stock up. If I hadn't had my expenses (I'm unexpectedly having to buy myself a car) I'd be glad for the opportunity to top up again.

 

[jancha]

I do think it's a bargain at 22-23c, and wish I'd waited a bit longer rather than rushing in straight after the 17c shares started being sold. having said that, I still think they'll be back up above 30c in the not too distant future. Unfortunately I have had some unforeseen expenses come up, otherwise I'd be topping up further at around 23c.

I think the 17c shares coming into peoples' hands at a jittery time has encouraged profit taking, and that has also brought AUT down, both by spooking people and also by encouraging them to sell AUT and buy EKA.

To me it's a pretty simple situation. We have a reasonably solid idea of how much oil we can get out of the ground we have, how much it will cost to do that, and it just depends on how quickly we can get that done (which we have some idea of) and what the price of oil does (which I see ultimately being our main price determining factor).

I don't think spending some time back in the mid to low 20s is going to hurt in the long run, so it's just a chance to stock up. If I hadn't had my expenses (I'm unexpectedly having to buy myself a car) I'd be glad for the opportunity to top up again.

Cant see it going back up to 30c in a hurry in fact i think the reason it did go that high was more of a T/O prospect after ADI was taken over by AWE & as well as positive news of coarse.
Now however the hype has died down and without further activity or news coming out i think it will continue to go down.
If you look at the buyers lined up opposed to the sellers there's a big difference to how it's stacked up from in the past.
Even with the POO at lows back then EKA had held it's ground not so now.
% wise AUT has faired better of late if you look at the 4.1 ratio.
Could that be because Aut has more drilling to come and more acreages?
Anyway why not take a bus for now & buy a Jag from your profits down the track?

 

[Sdajii]

I suppose it depends on what our vague time frames are. I can't see 30c within a week or two unless something exceptional happens, but I expect better than 30c within a year. The speculation about a takeover was based on someone willing to pay closer to what it's worth. I'm happy to hang on for a year or more to get the realistic value rather than sell out early.

I'm not a fan of Jags, I think I'll buy a cheap car now and down the track put the EKA profits into land. Someone pop that real estate bubble for me!

 

[Huitzii]

I think EKA and AUT will have a bit more consolidation but I dont think that it will go too much longer.
EKA pretty much follows AUT'S chart and I feel that AUT is pretty much on its bottom, so with that assumption in hand EKA should start heading back up by early next week.....Just my own thoughts and do your own research.
Anyhow here is a comparison chart...EKA has an uncanny resemblance to AUT IMHO and they both give hints to each others trades.

 

[adobee]

I think EKA and AUT will have a bit more consolidation but I dont think that it will go too much longer.
EKA pretty much follows AUT'S chart and I feel that AUT is pretty much on its bottom, so with that assumption in hand EKA should start heading back up by early next week.....Just my own thoughts and do your own research.
Anyhow here is a comparison chart...EKA has an uncanny resemblance to AUT IMHO and they both give hints to each others trades.
View attachment 38683

with this in mind EKA is looking pretty good then at the moment.. i think its lagging behind a bit

 

[jancha]

with this in mind EKA is looking pretty good then at the moment.. i think its lagging behind a bit

I agree Adobee that it's certainly lagging behind in ratio 4.1 to AUT but could it be because EKA dont have as much going on now most wells are completed with Hilcorp.
Both stocks have been driven by news.
Aut still has news to come where as EKA has little as it shows with EKAs volume in trading. Basiclly zilch.

 

[nioka]

I agree Adobee that it's certainly lagging behind in ratio 4.1 to AUT but could it be because EKA dont have as much going on now most wells are completed with Hilcorp.
Both stocks have been driven by news.
Aut still has news to come where as EKA has little as it shows with EKAs volume in trading. Basiclly zilch.

EKA does have something going on at the moment. It has two wells waiting for fraccing or being fracced. It does not have as much going on as AUT but that in a way is an advantage. Because the drilling in sugarloaf has slowed it means that EKA will/should be cash flow positive ahead of AUT. Hillcorp are getting closer to having recouped their drilling costs so EKA will soon get cash payments from the producing wells. This should leave funds available to prospect the new lease areas.

In addition there is still the possibility of a takeover. There is also good news on the oil price. Good for producers that is.

EKA has a little ground to make up on AUT. In the past it has lagged but in the end it has caught up. With one AUT buying 4.69 EKA I suggest that is a good deal providing there is not a capital gains tax cost that is prohibitive.

 

[jancha]

EKA does have something going on at the moment. It has two wells waiting for fraccing or being fracced. It does not have as much going on as AUT but that in a way is an advantage. Because the drilling in sugarloaf has slowed it means that EKA will/should be cash flow positive ahead of AUT. Hillcorp are getting closer to having recouped their drilling costs so EKA will soon get cash payments from the producing wells. This should leave funds available to prospect the new lease areas.

In addition there is still the possibility of a takeover. There is also good news on the oil price. Good for producers that is.

EKA has a little ground to make up on AUT. In the past it has lagged but in the end it has caught up. With one AUT buying 4.69 EKA I suggest that is a good deal providing there is not a capital gains tax cost that is prohibitive.

EKA seems to falling further & further behind AUT in the 4.1 ratio.
I hope your right about it catching up..That would put it back at around the 32c of it's high. Buying opportunity perhaps @ 26c.
It certainly doesn't have same attention that AUT is having in volume of late.
T/O perhaps for AUT?
Was holding both but sold out of AUT & loaded up on EKA for value.
Here's hoping it's the right move.

 

[WRONG'UN]

Ratio update
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[barney]

Director buying on market at between 26 and 26.5 cents to add to a Super Fund holding (now 2,500,000 shares)

I wonder what that tells us