HOG - Hawkley Oil and Gas
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Its a puzzle..If the gas plant is running at the very least the gas from Soroch 201 is now 30% more valuable.
Surely there has to be some extra gas/condensate flow from Soroch 202. And the SP is still at all time lows. It will be be fascinating to see the story.
Technically the chart looks weak to me and the increased volume with the drop from support at 13 c is concerning, holding above 11c waiting on news. It is evident that no recent news on the 2nd soro well is hurting the stock. It is tempting to buy more at this level but i have lost a bit of faith in mgmt of late and trying to catch a falling knife is risky! I agree that the initial flow rates for this well were inconclusive but still hopeful that we will see a positive Ann soon re the flow from the upper B18 once the formation fluid and slugs are cleaned out. The production facility should be commissioned by now, so maybe two pieces of info in the one announcement. things happen slowly with this stock from drilling wells to releasing info????
disc: stock held
disc: stock held
Some things changed in the past year.
1. Management out and in. Changes.
2. The monthly update miss that one (not many company ´s have that open communication)
3. IR gone or at least far away.
4. News flow is low.
5. Investors are waiting for the 202 results and the gasplant commissioning (should be by mid feb...)
- On the other hand we might have the combined (or quick followed up) news the 202 is in production and
the commission of the gasplant. Should be good for the cashflow.
- Shareprice is near a low.
I think we have to wait for the news to come in soon and hope it is possitive.
GLTA
discl: stock held
1. Management out and in. Changes.
2. The monthly update miss that one (not many company ´s have that open communication)
3. IR gone or at least far away.
4. News flow is low.
5. Investors are waiting for the 202 results and the gasplant commissioning (should be by mid feb...)
- On the other hand we might have the combined (or quick followed up) news the 202 is in production and
the commission of the gasplant. Should be good for the cashflow.
- Shareprice is near a low.
I think we have to wait for the news to come in soon and hope it is possitive.
GLTA
discl: stock held
The reply by hog to the price change query on Monday from the asx indicated an expected announcement this week on flow rates from soro 2? Well tomorrow is the last day of the week, so lets see if that comes to fruition. I will be watching the news feeds with anticipation. There hasn't been any volume peaks this week so no leaks from the company it would appear.
GLTA
GLTA
The reply by hog to the price change query on Monday from the asx indicated an expected announcement this week on flow rates from soro 2? Well tomorrow is the last day of the week, so lets see if that comes to fruition. I will be watching the news feeds with anticipation. There hasn't been any volume peaks this week so no leaks from the company it would appear.
GLTA
Be advised they may need the full friday too in the field, in that case you see the NR not today.
cheers
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Still down the hole.... that took our last X00K
LOL tis true
Good point emile33! Well let's see what happens next week. Only seven trades today for less than 100k shares traded, no leaks yet!
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The HOG Press release certainly explains the weakness of the SP>
Yes the gas plant is up and running but Soros 201 is at reduced output and Soros 202 is still not producing. The underground oil fields are "complex" - basiclaly not doing what they thought they would do.
I suppose at 11c HOG is at close to rock bottom. It is still producing cash and in theory could do much better .
Maybe..
http://newsstore.fairfax.com.au/app...code=hog&get_prices=Get+prices+&+charts&f=pdf
Yes the gas plant is up and running but Soros 201 is at reduced output and Soros 202 is still not producing. The underground oil fields are "complex" - basiclaly not doing what they thought they would do.
I suppose at 11c HOG is at close to rock bottom. It is still producing cash and in theory could do much better .
Maybe..
http://newsstore.fairfax.com.au/app...code=hog&get_prices=Get+prices+&+charts&f=pdf
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Pepper your anguses for a capital raising, then it'll hit rock bottom.
prawn_86
Mod: Call me Dendrobranchiata
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I dont see why they need a capital raising, they are still CF positive and now that the expenses for the gas plant are out of the way this should increase even further.
The latest announcements did not appease shareholders, people are selling out. This might go down further
prawn_86
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I didnt say it wouldnt go down, i said i dont see the need for a capital raising (especially at these lows) when they are CF positive.
I guess now we know why the delays in news on soroch 2, link the news in with the gas plant commissioning to reduce the impact on the sp. still the troubles with the flow from the upper b18 is a problem, how big I am not yet sure. Would like to hear from any oil/gas gurus on their interpretation of the issues with the lack of flow, poor pressure didn't seem to be an issue when shut in so not yet sure what it all points to. Time will tell and with the macro economic situation the downward pressure on The sp is evident.
I agree no pressing need for a capital raise as the reduced costs with the new plant on line will be quickly realised, however I would like to see an increase in drilling activity to make the most of the gas plants capacity, cap raise or otherwise I would be considering it?
I agree no pressing need for a capital raise as the reduced costs with the new plant on line will be quickly realised, however I would like to see an increase in drilling activity to make the most of the gas plants capacity, cap raise or otherwise I would be considering it?
But this is the 2nd well that did nt go well...
Third Time Lucky
