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INP - Innamincka Petroleum

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pacestick said:
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
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I wouldn't have my money sitting in the stock if I thought the company was a dud.
And I wouldn't think AGL would commit $25 million into a venture based on hot air (so to speak). Also I note, Santos has been very quiet!
 
Millionaire club said:
I wouldn't have my money sitting in the stock if I thought the company was a dud.
And I wouldn't think AGL would commit $25 million into a venture based on hot air (so to speak). Also I note, Santos has been very quiet!
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On what basis have you determined that INP isn't a dud. As for AGL, how have you determined that this is good value for INP?

Don't get me wrong, I expect INP to be a good stock, thats why I still hold. What troubles me is the lack of information to determine its value and near term cash flows.
 

Innamincka has recently announced"PEL 103 and PEL 103A contain conventional gas and oil assets and have also been identified as having
potential coal seam gas areas of significant interest to the JV participants. Under the arrangements AGL has
paid INP $15 million as an upfront payment and will also fund a $10 million work program to evaluate the
recently identified Coal Seam Gas (“CSG”) prospect known as the Innamincka Dome."
AGL has recently announced
"15 April 2009
AGL Energy Limited (AGL) has today advised BG Group plc (BG) that it
will not exercise either of the Lacerta/Polaris Coal Seam Gas or
Condamine Power Station call options acquired by AGL on 28 October 2008, the date AGL
announced its intention to sell all its shares in Queensland Gas Company Limited (QGC)
into the BG bid for QGC. Both options have now lapsed. Accordingly, AGL will not incur
any interest charges associated with the options.
AGL has concluded that anticipated future reserve upgrades from its recently acquired
interests in the Galilee Basin, Gloucester Basin, Innamincka and Sydney Gas Limited,
coupled with gas purchases under long-term gas supply contracts, would deliver a superior
economic outcome supporting AGL’s domestic gas strategy than would be obtained from
exercising the Lacerta/Polaris option."

I think you need to be positive when reading these announcements...could INP have done it better without AGK, we will never know. I know this much, if they tried it alone it would take a lot longer to do & posssible multiple capital raisings. I intend to hold my securities & I would like to obtain more. I am hoping this one pays off.
 
what does that announcment mean for INP, is it good news or bad?
I hate those ASX announcements, very hard to understand if it's going to be positive news or negative news
 
bowseruni said:
what does that announcment mean for INP, is it good news or bad?
I hate those ASX announcements, very hard to understand if it's going to be positive news or negative news
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Last year I was worried about INP when they made a very small comment in one of their reports about having to raise capital. This no longer exists due to the AGL farmin. I expect INP will be very active over the coming year.
 
bowseruni said:
what does that announcment mean for INP, is it good news or bad?
I hate those ASX announcements, very hard to understand if it's going to be positive news or negative news
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I can think of 25 million reasons that it will probably be good for INP. AGL must think so too, otherwise why commit to spending $25,000,000.00
 
After months of going sideways and no action, we have broken out nicely on very impressive volume.

No announcements either. I wonder if there will be an annoucement soon.
 
speeding ticket coped yesterday standard I know nothing answer from company and price falls again
 
pacestick said:
speeding ticket coped yesterday standard I know nothing answer from company and price falls again
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I wouldn't say the price fell due to speeding ticket, in fact it kept strong after the ticket.
It is more likely due to th lower night on wall street or/and the chart stepping.
 
Well it's been a few days now and still no announcement or reason for the bump. Honestly thought we would have heard something now or given some indication for the sudden rise.
 
bowseruni said:
Well it's been a few days now and still no announcement or reason for the bump. Honestly thought we would have heard something now or given some indication for the sudden rise.
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I was a little strange, but their reponse on the day is all we are likely to get. Nothing.

There a plenty of questions that are still to be answered.

When the news comes, if it ever does it will most probably come thick and fast.

If INP is not a penny share by then, it could be interesting times.

Have a look back at 2008, I know it was a period of exploration, but hardly a day went by without an announcement of sorts.
 
CapnBirdseye said:
I was a little strange, but their reponse on the day is all we are likely to get.
Have a look back at 2008, I know it was a period of exploration, but hardly a day went by without an announcement of sorts.
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The management has changed since 2008 this may be the reason that they are not as fort coming. Also I understand that the asx fees charged to companies for making announcements have become higher. I have not had the time lately to investigate this information
 

Hi Pace Stick
That was an interesting observation that increased ASX cost prohibiting to release announcements by INP organisation and changed management etc.

Mate I am not having a Go but there are so many acquisitions and mergers happen, CEO gets changed, Directors get sacked, etc etc. It does not enable the right to change the disclosure requirements.

Further if there is no announcement made where ASIC law warrants them then the company will be greatly crucified. I suppose that is why they employ qualified Company secretaries to advise the directors to do the right thing
 
Another day of losses today, surely must come back sooner or later?

do you guys think the lack of communication means they are doing bugger all drilling etc or just got tired?
 
I agree it would be great to know what they are actually up to. One week they get a speeding fine from the ASX, then back to the 21-23 cent range.

I thought they were siting on one of the largest onshore oil discoveries in Australia, and yet the levels of activity (or announcements thereof) and share price don't really seem to indicate they are terribly keen to get cracking.

INP are the antithesis (?) of my other oil and gas interest Karoon and their great levels of communication - and share price movements.
 
Well someone was in the office today at least. Maybe they are warming up the asx announcement system for some real news. Then again maybe I'm becoming delerious.

So, guys what are you really up to there? Playing cards all day, or actually finding and extracting some hydrocarbons?
 
Re: INP - Innamincka Petroleum - CSG Exploration Programme

At long long last we have an announcement.

http://www.asx.com.au/asxpdf/20090630/pdf/31j9rv7d9dfb2r.pdf


INP are starting their CSG exploration programme in the cooper basin.

Frim what I can tell it's pretty much unknown what kind of flows they are expecting - so for now, the sky in the limit.

The main points to take are that --

  • The well sites are close to an existing pipeline - 25km.
  • Planned well depths are shallow - < 600m
  • Commencing August


I think the market really under-reacted here today, finishing inly 9pc up.

Lets see where this goes..
 
capn dont forget inp is not paying for the cost the farmout partner is under the termds of the agreement
 
pacestick said:
capn dont forget inp is not paying for the cost the farmout partner is under the termds of the agreement
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Surely this is positive? The deal is done, now all parties get to find out what they have got.... Looking forward to getting some results at long last.
 
It sure is a positive capn it sure is sorry if you misunderstood my post Hopefully we will start to get some good news on other issues when the quarterly report comes out
 
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