Australian (ASX) Stock Market Forum

INP - Innamincka Petroleum

Jump to new
I'm really getting tired of this lack of communication. All we can hope is that it is relating to gas.

So will it be good new/bad news? Only time will tell... and I wonder how much time that will be?
 
I'm really getting tired of this lack of communication. All we can hope is that it is relating to gas.

So will it be good new/bad news? Only time will tell... and I wonder how much time that will be?[/QUOTE]

The rise in sp before the trading halt might indicate that the news will be positive . You would think that the relevant authorities would be investigating why an announcement was not made earlier. If they dont they would be confirming their title as toothless tigers.
 
ASX release this morning 9:41 , INP POSSIBLE farm arrangement.

Cheers, and happy trading in '09.

oops, meant farm out announcement,

hopefully re farmout of Gas

cheers.
 
Agreed pacestick, it looks like somone out there knew there was good news on the horizon.

I have not seen anything about the volumes or rates of gas expected - is this something I have missed? Maybe this kind of analysis and exploration will be part of the farm-out package....
 
looks like the farmin company is the bigger winner although it does take care of some financial problems for inp they have had to give a lot a way
 
craig_oneill said:
Anyone got any views on the company?? It seems as though they dont like to keep their shareholders informed...
Click to expand...

Thats an understatement. The market has lost confidence in the management. There are a number of reasons for this the company has had a run of bad luck but the ability to provide leadership to get out of it is questioned. The MD resigned today maybe the strt of change however the new MD is the former cfo
Someone coming in from outside might have helped the sp .
 
Quarterly report due out soon .It is just possible that we the company owners will be given an update on flax 5 or would that be to much to ask
 
Pacestick. I assume you hold INP like myself. Do you think there would be any merit in a letter to the management from some retail shareholders regarding their displeasure at the lack of communication?
 
I doubt if they would leav etheir bunkers to talk to us. However the asset review out today raises more questions than answers probably because I dont know a lot about oil and gas companies.
The variation in estimate of Bscf in the CSG would seem to be large is this normal. We still dont know if the flax juniper field is one and the same iand a well will have to be drilled to find out. The difference in reserves between them being two fields or one large one is considrable in amount of reserves .
I am left asking the question if I knew what I know now would I have bought them.. The answer is yes but not at the price I paid and I do not want to risk more capital averaging down as the situation is still not clear. The oil price rebounding would help a lot.
 
Looks like some movement based on the POO. They might start up as an oil producer again at this rate :)

Technical resistance coming up at 0.265. I doubt that there will be too much trouble in breaking it.
 

Attachments

  • inp.jpg
    inp.jpg
    63.2 KB · Views: 77
Have watched INP like a hawk for about a year now :cautious:

You're right volumes are building on this one
Looks like she's heading for a march into the 30's
I have taken a punt on this stock today
Will buy more if she keeps these volumes up

early indications point to INP making a run and probably about time ;)

But thats my opinion only so do your research

Any comments welcome ?
 
The resistance level of 26.5 cent level could've broke out a couple of times recently.
I watch this stock daily and on and off all day. I haven't seen a stock APPEAR to be so controlled in a long time. ie Treading water so to speak. There are some big players in the energy sector looking to obtain and sure up thier future gas & oil supplies...let's hope innamincka is on more than one of thier radars. I wonder how long it will be till we know AGL's drilling results. It was quite interesting seeing the company request a independent estimate of stock and inferred resources across the broad range of tennements.
Does anyone know anything about time frames for drilling results? I have looked over company announcement recently, but may have missed dates!
I also noticed recently, that Innamincka was mentioned in AGL's announcement as being a possible future gas resource/supply for them...it was in the same announcement that stated AGL won't take it's option up with BG on the Surat Basin tennements. Instead sold it's interest. Why this didn't rate a mention in Innamincka's announcements, one would wonder.
Any thoughts out there?
 
Also been watching these guys for a long while and have previously done well with them. Seriously looking at pumping some more into them but still not confident in the market. the look to have alot of sideways looking movement for a long time.

thoughts?
 
Also what I found interesting was back in May 2008 we get a new director and the stock price is in free fall ever since. Yet we have a buyer accumulating shares at this time too. We also had an announcement (one of very few that are informative) that water was found in one of the drill holes which might undermine previous estimates of size of inferred resource...I don't know that this was ever confirmed? Then there is the announcement of the independent Asset reveiw on 29th April 09 did any one notice the change of substantial holding prior to the announcement & then the correction of the change after the asset reveiw announcement.
I mean come on, do they think we are stupid!
I don't like how quiet they are to the shareholders, but I take comfort in that the retiring managing director Mr Wecker has held his 8 million shares.
Why is production on hold??? What is our company doing at the moment? we know santos & AGl are meant to be drilling, but what is Innamincka doing if they have stopped producing? What is in the pipeline so to speak?
 
Millionaire club said:
What is in the pipeline so to speak?
Click to expand...

Just air. Not even any hot air to speak of though. From memory a past announcement or presentation stated that they would resume oil production when the POO increases. No idea to what level.

And, yes it is very strange that there are no updates regarding oil or gas exploration ... and flax 5.
 
CapnBirdseye said:
Just air. Not even any hot air to speak of though. From memory a past announcement or presentation stated that they would resume oil production when the POO increases. No idea to what level.

And, yes it is very strange that there are no updates regarding oil or gas exploration ... and flax 5.
Click to expand...

you certainly don't sound like you share the same views on the company as i do, I don't hold at the moment but may do very soon
 
bowseruni said:
you certainly don't sound like you share the same views on the company as i do, I don't hold at the moment but may do very soon
Click to expand...

I hold and have done for a while. I might even buy in some more. But first we need feeback as to what the company is doing, timeframes and expectations. I hope we get some news soon.
 
CapnBirdseye said:
I hold and have done for a while. I might even buy in some more. But first we need feeback as to what the company is doing, timeframes and expectations. I hope we get some news soon.
Click to expand...
This is my strategy exactly it could be a good company or it could be a dud and the information that would help us to make an evaluation is not available
 
Top