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EKA - Eureka Energy

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AUT and EKA are getting good support, its been progressing for a few days now, i assume its the early birds arriving before the spring.

I would buy some ekao's myself but am locked into another stock this month, plenty of time still.

has eka got anything else on the go or planned in the future?
 
Royce said:
Sam..options up 25% today, you can't be too unhappy about that.

Royce
Click to expand...

ROFL maybe I should complain more!

I wish TRG, VSG, SBM, GDM AUT, EKAO, NAB, TCL, MSC and MTS would lift their game!

 
Mother of god! What's going on here 30c ....I dont believe it!
On 14 trades of which I can see 5 were crossed (not sure how to interpret this)....no ann.
 
Looks like someone is buying "on market" rather than on price, which is a dangerous thing to do with such a thinly traded stock. Good for the price though :
 
rub92me said:
Looks like someone is buying "on market" rather than on price, which is a dangerous thing to do with such a thinly traded stock. Good for the price though :
Click to expand...

Yep agreed, the price movement doesnt really look credible with no buy depth, but hey i dont mind if i get this wrong!
Options havent traded either.
 
i was looking at it earlier, and the volumes are increasing constantly.

great stuff.. eka and aut are moving well, adi is frozen in its zone..

not long to go now on sl, maybe the market is waking up?
 
A lot of hype taken out of its sails today. Down 11.76% and not even an announcement to cause it.
 
Great, and now theyve regained it all back today. That's just frustrating...
 
Amazing that there is no interest in EKA whatsoever after todays announcement, -10% whilst ADI even and AUT -3%. Yet the announcement was incredibly positive for EKA in particular.

Wow.......
EKA previously had less acreage than the other JVP's below Sligo, yet now has exactly the same acreage as all other partners...... This is a massive bonus to EKA, with twice as much acreage on the chalks as previously held, and the mkt cap of the company is still AU$10M.

Sure this is all or nothing for EKA, but for those who can wait a couple of months........
 

Is this correct Resourceboom? The announcement doesn't go into the cost for acquiring the extra acreage or any detail as to the split in the JV. I certainly hope that you are right in that EKS now has access to the same as the other JV plus the extra acquired land. I hold quite a few of eka's and would have liked a bit more detail or clarity in yesterdays announcement.
But as you say this could be a massive upside to EKA, the confidence that they have got to get extra land without even flowtesting the secondaries yet oozes in confidence. This is a sleeping giant here I think.
Certainly makes the pain of the last month or two seem not so bad when we should see a few bag rise as the flow testing gets nearer in 2-3 months.
 
Hi Wallave,

Yeah, I was a bit confused by the announcement too, so I called the company for clarification (something I had been meaning to do anyway). I said the announcement seemed to contradict the website, but they said the website needs to be updated.

Apparently they held approx 10,000 acres before but now hold exactly the same as the other JVPS (19,500) over ALL depths as released in the ann. The sooner they update the website the better!!

And I still don't think the announcement is clear enough, maybe if others spoke to the company asking for a follow-up announcement with more detail it would be beneficial?
 
Great work Resourceboom.

That's fantistic for EKA. That was one of the reservations I had initially with buying EKA that they didn't have all the coverage that the other partners had. But I couldn't resist the low market cap and potential spike to the share price. Having all rights makes this an absolute steal if the confidence that the jv's have on the secondaries is true.

I will give the company a call as you suggest. An announcement by EKA itself advising that they have increased their share and costing would have been appropriate I think.
The waiting game will continue for a while yet until the flow testing gets nearer I think anyway.

Thanks
 
From yogis post yesterday:
EKA ... positive news on Wednesday AND Thursday ... ???

good if it comes to fruition!!
 
I bought some yesterday with the view that we may get some rumour about the lower sands fueling this over the next 2 months. If it dives further it may be hard to get out so I only bought a small parcel; I'm not that brave So still a reasonable risk/reward.
 

Well plenty of buy depth there now rubadubdub! In fact i cant recall a time since this stock dived under 30c that there has any been significant depth.
Makes sense at these prices with a small market cap and the significant exposure it has to sl.
 
Hi Resourceboom,

I spoke to Eureka, they were very easy to talk to. They obviously couldn't say anything that hasn't been released to the market but did mention that they wouldn't have gone and acquired extra acerage if they didn't have confidence in the results to date. He was also surprised that the market hadn't reacted positively to the release (until today a little bit). He thought the axtra acerage was an obvious signal.

He did also say that they wouldn't have gone and spent the extra money testing the hosston if they didn't have the confidence that it would have paid of. Although he stated that it was worth the risk with the potential size of the play.

I asked about the financial side of things as to how much the extra acerage costs. He would not divulge that.
I mentioned that they only have $1.2mil in the bank and would a raising be expected. He couldn't give a definate answer although said that it could be expected that it may happen given the expected costs for flow testing the secondaries and they won't be left in a position where they havn't got the funds to proceed with the other jv's.

I basically took that they would most likely be another cash raising in the next 2 months to top up the coffers.

Overall still very happy to hold and top up some more.
 
Thanks mate, Yeah it all sounds good. I was very busy when they called me back, so I only had time for a very quick chat. The more info you provided is great.

I think you're definitely right in that a cap raising will be required sooner rather then later, which will probably depress the price a bit, but look forward to it as a chance to add to my holdings.

They still havent updated the website tho
 
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