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INP - Innamincka Petroleum

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Aceyducey

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Innaminka is one of the few junior oilers who I regard as overpriced (asset coverage would mean share price should be in the 60-70c range).

It's just announced an unexpected miss for Yarrow 2, alongside their Yarrow strike...which along with their Flax success caused the stock to jump almost $1.

Watch how long it takes for the news to filter out & the stock to react (downwards)....

It;'s what I like about oilers. If you get the news when it appears in ASX announcements there's often one-two days to position before the market goes whoompa!

BTW - this failure also has medium term implications for Stuart Petroleum, who also has assets in that general area. I don't expect Stuart to drop however, they're becoming a very strong sub-medium oiler :)

Cheers,

Aceyducey
 
Re: INNAMINCKA PETROLEUM [INP]

Ooops - spoke too soon ;D

The share dropped 13% intra day...

Cheers,

Aceyducey
 
Arsey, you are dead right. INP is over-valued. It is full of dreamers. Not a safe stock to sit in. Expect more disappointments here possibly...
 
Dust this one off .... clearly a BUY at these prices ... more words to make it upto 100, and a few more just to be sure
 

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news of a massive discovery oil discovery, and the sp has mirrored this, jumping about 80%............
 
More now

92c

UP 140%

LOL to holders.


01 Oct 2007 10:28 ! Flax East 1 Drilling Report 1 October 2007 2

01 Oct 2007 09:06 ! Outstanding Flax East Result - Major New Onshore Oilfield
 
Aceyducey said:
Innaminka is one of the few junior oilers who I regard as overpriced (asset coverage would mean share price should be in the 60-70c range).

It's just announced an unexpected miss for Yarrow 2, alongside their Yarrow strike...which along with their Flax success caused the stock to jump almost $1.

Watch how long it takes for the news to filter out & the stock to react (downwards)....

It;'s what I like about oilers. If you get the news when it appears in ASX announcements there's often one-two days to position before the market goes whoompa!

BTW - this failure also has medium term implications for Stuart Petroleum, who also has assets in that general area. I don't expect Stuart to drop however, they're becoming a very strong sub-medium oiler :)

Cheers,

Aceyducey
Click to expand...

Hi do you still hold this view after today?

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS -3.9 -1.8 2.4 3.2
DPS 0.0 0.0 0.0 0.0

Actually it did have good numbers even before the news

thx

MS
 
I am holding, but still trying to come to terms with how this fits in to my trading plan, I am thinking of waiting to see how it closes today and then decide.

In my system I usually only trade on a weekly basis and look at the close of last week. I just don't know yet, still flabbergasted.

1.1d
 
Whats the discovery worth to the SP?

Its going a little stupid IMO at the moment ... people need to calm down a bit
 
As the ann says, 120M barrels of oil .. making it Australia's largest onshore oil wells. Oil is $83USD a barrel right now. It's worth a bit :cool:

Only concern would be how many bopd they can achieve.
 
well, what a surprise.
almost half of share on issue are traded today.
quite a shock seeing how ppl are trading.
120% up, well not enough.. let's make it 200%.. oh no.. let it go 500%....
jeez.. do they think no one will ever sell in one day HYPE like this????
don't know how ppl give a value to this sp. :confused:
 
Thats a good question.. I wonder how many shares would have been traded if it had'nt been a holiday in 50% of Oz..
 
gfresh said:
As the ann says, 120M barrels of oil .. making it Australia's largest onshore oil wells. Oil is $83USD a barrel right now. It's worth a bit :cool:

Only concern would be how many bopd they can achieve.
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Assuming $10 a bbl in ground value (which is about the top end for me) and as the ann' states 120 mmbbl OIP, we can hazard a guess @ 25% recovery rate so maybe a total (for both fields - now singular) recoverable resource of around 30mmbbl (previous reserve was stated @ around 4 mmbbl I think, so excellent possibe result).

Therefore rough value of $2.00 per share:)

Would have liked to watch the run today.
 
michael_selway said:
Hi do you still hold this view after today?

Earnings and Dividends Forecast (cents per share)
2006 2007 2008 2009
EPS -3.9 -1.8 2.4 3.2
DPS 0.0 0.0 0.0 0.0

Actually it did have good numbers even before the news

thx

MS
Click to expand...

MS the original post is from 2004, I'm thinking things might have changed abit since then, I'll have to have a look at the chart when I get home to see what it was trading at back then, lol.

1.1d said:
I am holding, but still trying to come to terms with how this fits in to my trading plan, I am thinking of waiting to see how it closes today and then decide.

In my system I usually only trade on a weekly basis and look at the close of last week. I just don't know yet, still flabbergasted.

1.1d
Click to expand...

Nice problem to have.:D
 
jtb said:
Assuming $10 a bbl in ground value (which is about the top end for me) and as the ann' states 120 mmbbl OIP, we can hazard a guess @ 25% recovery rate so maybe a total (for both fields - now singular) recoverable resource of around 30mmbbl (previous reserve was stated @ around 4 mmbbl I think, so excellent possibe result).

Therefore rough value of $2.00 per share:)

Would have liked to watch the run today.
Click to expand...

Made a bit of a blue above- brains not working yet:eek:.

Due to their 75% equity and assuming full dilution for options then I'd be saying around $1.25 per share not $2.00.
 
jtb said:
Made a bit of a blue above- brains not working yet:eek:.

Due to their 75% equity and assuming full dilution for options then I'd be saying around $1.25 per share not $2.00.
Click to expand...

out of curiosity, does your valuation take into account that they will need to either issue more shares or incur more debt in order to increase production which will result in more dilution? also, just wondering what you estimated as their production p.a.
 
today was crazy, haven't seen a move like this since all the hype on the uranium about a yr and half ago.

remember looking at this stock today at 100% up, then crept up extremely quickly throughout the day. Had no idea of what this stock, as a result didn't go in. Very interesting though with positive results.
 
Managed to get off the ropes with this move.One punch from the canvass and now back in the game.Yayyy.
grinning-smiley-038.gif
The China Post extra put a story out on the internet and here is the best bit.(well i think so) Full story here.

"There is now a reasonable basis for concluding the Flax and Juniper discoveries will prove to be one of the largest onshore oilfields in Australia," Innamincka said in the statement.

The company estimated the in place resource at about 120 million barrels of oil. In place resources may not all be economically or technologically recoverable.

However, the company said there is "substantial additional upside" to their discoveries in the Cooper Basin.
Australia's proven oil reserves at the end of 2006 were 4.2 billion barrels of oil, according to BP PLC's annual Statistical Review of World Energy, making Innamincka's find potentially about 3 percent of the country's known reserves.

Australia's production in 2006 was 886,000 barrels a day, according to BP's review.

Innamincka's share prices more than tripled from Friday's close of 39 Australian cents on the news. By early afternoon in Australia, the shares were at A$1.375.
Click to expand...
 
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