EKA - Eureka Energy

adobee · 11 January 2011

Any of the locals or wise able to give any opinion on the extra acerage AKM got last year :

"761.5 acre km block of leases on the eastern extension of the Eagle Ford trend, some 90 miles 150km north-east of Eureka’s producing Eagle Ford Shale-Austin Chalk interest in the Sugarloaf Project. "Magueyitos acreage in Fayette County"

Consideration for the lease interests was US$821,500 in cash and 900,000 new fully paid ordinary shares. The lease block is located in Fayette County, south of the major producing Giddings Oil Field and west of Apache Corporation’s extensive Eagle Ford Shale lease holdings.

In the agm docs they talk about 761acre and 761sq km.. i am assuming acres ?

Magic Man · 12 January 2011

Hey there,,

Ive noticed this stock starting to wake up the last few days.. Can anyone come up with a big reason as to why someone should jump into this stock?

adobee · 12 January 2011

Magic Man said:
Hey there,,

Ive noticed this stock starting to wake up the last few days.. Can anyone come up with a big reason as to why someone should jump into this stock?

I dont know but I am hopeful that:

Maybe they are going to release financials saying they are cash flow positive
Maybe AWE is deciding to take over or increase its holdings
Maybe they have drilled / explored Fayette County and oil is seeping through the surface soil..
Maybe they are just running on the back of the other AMI partners
Maybe China wants to own all of the EFS
Maybe its just a pump

toocool · 12 January 2011

Magic Man said:
Hey there,,

Ive noticed this stock starting to wake up the last few days.. Can anyone come up with a big reason as to why someone should jump into this stock?

Just read back through the thread and you will find out.... and maybe the AUT one as well.

howmanyru · 12 January 2011

Hi All,

I am out at 40c today, if it makes it. Have traded this stock 3 times in the last few months, buying on dips, selling on highs. Think 39 or 40c will be max for today - bought at 31c. AUT seems too hot, but I wish I had of bought it a while back.
PS fantastic web site and great info here.

Sdajii · 12 January 2011

howmanyru said:
Hi All,

I am out at 40c today, if it makes it. Have traded this stock 3 times in the last few months, buying on dips, selling on highs. Think 39 or 40c will be max for today - bought at 31c. AUT seems too hot, but I wish I had of bought it a while back.
PS fantastic web site and great info here.

That's impressive, considering it hasn't traded at 40c today (or any time in the last 52 weeks).

Interesting first post of yours...

nioka · 12 January 2011

Sdajii said:
That's impressive, considering it hasn't traded at 40c today (or any time in the last 52 weeks).

Interesting first post of yours...

My first impression but then I reread and saw "if it makes it".It hasn't.

adobee · 12 January 2011

The more I have been reading up on EKA the more this is my preferred stock, I have actually bought more this morning have an average price now around 36c.. I wont be selling short term at all ..

Sdajii · 12 January 2011

Oh, stupid me! Thank you, nioka. Apologies, howmanyru!

I initially bought in around 10c, I've topped up several times since then, average entry in the low 20s. I have done a little bit of trading in and out. My average buy is probably something closer to 15c, but I've sold the original ones and the average of what I'm now holding was bought more recently. I've held what I have long enough now for me to be looking at hanging on for the 12 months.

Sharejon · 12 January 2011

My average is 17 cents, or something around that figure. I bought most my shares at 15c, then participated in the 1 per 6 SPP at 17.5 cents (i believe), then bought a few more at 28 cents. The 12 months CGT period for the majority of my shares comes to a close in march I believe.

I'm undecided on what I'll do. Alot of it will depend on EKA's intentions for increasing their assets. AUT has recently proven that smart acquisition through dilution can increase the value of each share and I'm hoping EKA can do the same.

Adobee, Magueyitos is 765 acres.

Harvestar · 12 January 2011

Disappointing close after this morning's postive signs of a high of 39.5c.

Does anyone know exactly when the next set of financial results will be released by the company?

nioka · 12 January 2011

Harvestar said:
Disappointing close after this morning's postive signs of a high of 39.5c.

Does anyone know exactly when the next set of financial results will be released by the company?

The next report will be the quarterly which is due out towards the end of this month. More important than the financials will be an announcement that income is coming in from sales. Hopefully an announcement that EKA is now cash flow positive or at least nearing that point.

Assasin · 13 January 2011

Assasin said:
Well Noika lets see.
I'm doing the experiment with 10k. So, dropped 10k of EKA at .32 and grabbed AUT at 2.05. To make it viable, I want 20% growth so it's a race between Aut making 2.46 and EKA going to 38.5.
I have no idea how this will go as both have pros ands cons in this race and AUT may have a few fluctuations along the way with the 2nd tranch of funding happening which may be another opportunity.
As I've mentioned before, I think in the med/long term we may be talking about the one stock anyway.
Back to the turkey. Merry Christmas.:chimney

Been away and have come back to strong positives on both stocks. Aut has been staggeringly good.
I think now is a good time to swap this original amount back and pay for a holiday with the profit.
I also concur that EKA is a bit of a sitting duck at the moment. Either get your business plan happening or get taken over.
Will be interesting to watch.

bennywizard · 13 January 2011

potential take over tax implications

Like many others I see EKA as undervalued and therefore a take over target, please excuse this basic question but as I understand it if a company is taken over and you have held the stock for less than 12 months you pay 50% capital gains tax...if held for 12 months plus its 25%.

But, what happens for instance if EKA is taken over by AUT...and you keep the new AUT shares...have you still "sold" your EKA and need to pay the CGT or are the new shares classified as AUT sncehares held for as long as you held the original EKA?

I am just using this scenario as an hypothetical example, not suggesting it will happen...although I would be very happy if it did. (I hold AUT and EKA)

I am guessing most people who held ADI would have held for less than 12 months, but I learned something interesting re CGT the other day. You can be classified as both a share investor and a share trader at the same time! Very cool! This means for example that if you make a loss on a trade you can claim it as an income tax reduction, but on a share like EKA or AUT those of us holding long term can classify these as an investment and get the benefits of holding for over 12 months.
I had to register an ABN to do this but man was it worth it.

jancha · 13 January 2011

Re: potential take over tax implications

bennywizard said:
Like many others I see EKA as undervalued and therefore a take over target, please excuse this basic question but as I understand it if a company is taken over and you have held the stock for less than 12 months you pay 50% capital gains tax...if held for 12 months plus its 25%.

But, what happens for instance if EKA is taken over by AUT...and you keep the new AUT shares...have you still "sold" your EKA and need to pay the CGT or are the new shares classified as AUT sncehares held for as long as you held the original EKA?

I am just using this scenario as an hypothetical example, not suggesting it will happen...although I would be very happy if it did. (I hold AUT and EKA)

I am guessing most people who held ADI would have held for less than 12 months, but I learned something interesting re CGT the other day. You can be classified as both a share investor and a share trader at the same time! Very cool! This means for example that if you make a loss on a trade you can claim it as an income tax reduction, but on a share like EKA or AUT those of us holding long term can classify these as an investment and get the benefits of holding for over 12 months.
I had to register an ABN to do this but man was it worth it.

If your trading on a regular basis and classed as a share trader to my understanding you cant be both and any long term shares will still carry the full CGT regardless of duration of holding.
At least thats what i was advised.
Anyway back to EKA better volume of late & holding @ 37c. Finally past the 35c resistence level of old but still well under valued imo.

Sdajii · 14 January 2011

Is anyone able to explain why there is such a glut of sellers (currently 42 sellers with a total of over a million shares on offer) at 44.5c?

chiasm · 14 January 2011

Nice finish to the week ending on 52 week high, up almost 18%, building up to a nice quarterly report. Next resistance point a few cents away so should be a good week coming up.

lemontree · 17 January 2011

Sdajii said:
Is anyone able to explain why there is such a glut of sellers (currently 42 sellers with a total of over a million shares on offer) at 44.5c?

Might have something to do with the 42 sellers at 44.5c.

majorca · 17 January 2011

lemontree said:
Might have something to do with the 42 sellers at 44.5c.

it appears the sellers are re-thinking their position this morning they are gone?

majorca · 17 January 2011

majorca said:
it appears the sellers are re-thinking their position this morning they are gone?

ok cancel that comment ,looked again , I am apparently on drugs

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