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INP - Innamincka Petroleum

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Would anyone have any information regarding todays suspension? The announcement issued states they do not know how long it will be before they can confirm the Capital Raising. Any idea what the nature of this will be and how much longer it could take?

The rumours of this last week obviously dropped the sp another 2 or 3c - do we think the Capital Raising confirmation will result in a bounce back? Long term this still seems like a stock with massive potential upside - anyone agree/disagree? How high could it go if (big IF) Rockhopper and everything else in pipeline all comes off?
 
The company is attempting to reinvent itself . As stated the newer assets would seem to have potential however the inability to tie up the funding in the required period of a trading halt has caused the share to be suspended . The asx rules only allow a share to be in trading halt for a short period then it has to be suspended or move back to trading.
I am concerned that their has been no further statement on the matter
 
Share price has copped a caning, is it all doom and gloom now, where is it now for this mob????? Anyone care to offer a possible scenario?
 


Hi Buzz,

INP ..... time cycles suggest, that we will be looking for a serious low,
around 18-19052010 and again, about 03062010 ... and first signs of
recovery, from around 20072010 ...

More later ...

have a great day

paul



=====
 
Cheers Paul,
Have to wait'n'see.
Hope they can get their Sh_T together.
How can they have not finalised the deal with AWE for 7.5% of the CalEnergy equity???
Good or Bad??

Hanging in there......
 
Let me get this right - this lot have money in the bank, are pumping oil and have their hands in some pretty good looking LNG pies with the big boys. Oil's not going downhill from US$80 anytime soon - so what gives? How come one deal gone pear-shaped gets their shares trading at 9c??? Surely they are no worse off than before?
 
Share the same sentiment Niqo, unless there is bad news on the horizon? hav'nt seen any announcements at all, just watching this crash daily.
 
Quick reading (Do not hold)

INP are doing a placement at 0.10 to raise funds to gain a 5% partnership in the BassGas project. They believe this has significant value to them long term due to the price they can buy in at ($26m from memory) against the broker valuations of around $40M. It's going to come at a bit of a cost to the company though...especially since doing a cap raising recently.

They really aren't producing that much oil...reading from the presentation it's UP TO 300BOPD...not a great deal...would this even cover costs/expenses?

Right now in all honestly I think you will see the SP languish around this mark...maybe if the BassGas project gives them what they say you might see some incremental increases...until then I think it's not going very far.

Wow what a time for INP since that day they spiked to $1.60 or whatever it was...
 
Thanks JTLP - are you certain the "placement at 0.10 to raise funds to gain a 5% partnership in the BassGas project" is still going ahead? I thought they had abandon this as they weren't able to bring along a major backer - or will they do a rights issue for the whole amount now?

I can see the SP bouncing back to pre-crash levels if they can ever make good on promises
 

Not sure Niqo. I just read it in one of their reports. I think they are raising the money through both mediums (institutional placement and SPP)...again I don't know so my apologies.

I do note that INP have a CSG play on the go but they are sliding by the day.
 

No they didn't go ahead with the purchase here is the link below to read report 2nd page. I have put my shares in the bottom draw for another day not prepaired to give them away may come good if they put out some good reports on Trefoil

http://www.asx.com.au/asxpdf/20100301/pdf/31p0cycbxdp61c.pdf
 
Just noticed...INP all time lows today. This is getting ugly for holders. Considering taking a position when an uptrend is established as they have over $17.5 million in cash, no debt and some near term exploration wells. Definitely tight stop if I enter.

DYOR and DNH
 

Had I had the chance to jump in now I probably would.. Unfortunately I jumped in about July Last year so am half of what I was.. So am having to wait this out for it to pick up again.. eventually... hopefully..
 
Wednesday, May 05, 2010
Innamincka Petroleum reports on commercialisation of Trefoil Field
company news image

Innamincka Petroleum (ASX: INP) has reported on estimates of recoverable liquids and gas in the Trefoil Field, which the company owns a 5% interest.

Origin Energy is Operator.

Recently, Innamincka acquired its interest in the Bass Basin permits. Gas discoveries were made at White Ibis 1 and Trefoil 1 at the time of purchase.

Other participating interests in the T/18P joint venture are:

- AWE Limited 47.5%
- Origin Energy Limited (Operator) 39.0%
- Innamincka Petroleum Limited 5.0%
- CalEnergy Gas (Australia) Limited 5.0%
- Toyota Tsusho Gas E&P Trefoil Pty Ltd 3.5%

In its report, released on 30 April 2010, AWE states that it “has completed initial resource estimates on the Trefoil gas discovery (AWE 47.5%), and the initial estimate of 2P recoverable volumes is 195 Bcf of gas with 12 million barrels of associated liquids (condensate and LPG)."

Commercialisation studies are now in process, with emphasis on utilisation of the nearby gas infrastructure on the Yolla field.

As a 5% interest holder in the T/18P permit, these volumes, which relate to the Trefoil Field only, provide Innamincka with a significant addition to its existing resource base, the company said.

The company said it has the potential to be further increased as a result of the successful identification of hydrocarbons during the Rockhopper drilling program, and the additional potential of Gentoo and other indentified exploration prospects.

In parallel, the operator of the T/18P permit, Origin Energy Limited (ORG) continues detailed analysis of cores, wireline logs, reservoir pressures and samples taken in the Trefoil wells with the aim of confirming field volumetrics and identifying potential development strategies.

http://www.proactiveinvestors.com.a...mercialisation-of-trefoil-field--6952.html:):)
 
INP company news as leaky as a BP deep water rig ... LOL
- pure hunch, but suspect this is the long awaited absolute bottom... something v pos ++ could be afoot...
 
Found this in B/Sector re the probable spike we had last week.

Republic Investment Management Ltd became a substantial shareholder in Innamincka Petroleum Ltd with 13,701,000 shares (5.24%) on June 16, 2010

Can't find anything on who they are, anyone have any info??
 

No, not having any luck either. Might have to wait to see what develops as the share price keeps looking for the bottom..
 
frankie_boy said:
No, not having any luck either. Might have to wait to see what develops as the share price keeps looking for the bottom..
Click to expand...

This is one i am keeping a very close eye on for a bottom. Nearly at cash value.
260m shares with approx 14m in bank (with 1m to be spent this quarter) is 5.4 cps. Currently trading @ 6 cps.
Some support at 5.9-5.7 but ignore the market depth, some joker has an order in for 5m @ 1cent.
 

I bought a **** load more at 6c to pull my average down they will come good again some day, they have allot of different irons in the fires & as you said they don't have allot of shares on issue compared to other company's
 
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