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INP - Innamincka Petroleum

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Well, according to the comsec report, $2.40ish is a possibility. I would be very happy with $2, thats 2.5 tims what i paid for it :)
What is their next well after this one, and would another oil strike in the next increase this figure? I wonder how much upside potential comsec put into their calculations?
 
BenH said:
Well, according to the comsec report, $2.40ish is a possibility. I would be very happy with $2, thats 2.5 tims what i paid for it :)
What is their next well after this one, and would another oil strike in the next increase this figure? I wonder how much upside potential comsec put into their calculations?
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BenH

See http://www.innapet.com.au/upload/news.pdf for news on this. Next is the Juniper field (larger than Flax). Currently concentrating on production wells for Flax to get cash flow going (expected 1000 bpd by end of 08). Then move on to Juniper.
 
Thanks heaps for that one Long, hmmm i think i might tuck this one away for a while :) i like their story so far.
 
Some odd movement today, up 10 percent now slowly heading down, just wanted to know how long should we expect for a significant rise in this share price, i.e. to $2.40. I'm looking for something mid term and this seems like it's fairly secure and has had some nice growth movement over the past for weeks.

thanks for any input

marc
 
hsv2001 said:
Some odd movement today, up 10 percent now slowly heading down, just wanted to know how long should we expect for a significant rise in this share price, i.e. to $2.40. I'm looking for something mid term and this seems like it's fairly secure and has had some nice growth movement over the past for weeks.

thanks for any input

marc
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Marc

Shareprice has already has a significant rise, has finally found some selling resistance and I now want to see a consolidation period. You dont want stocks shooting to the moon if you want to hold mid to long term.

Nice and easy does it, 2-3% here and there will get you where you want in the end. INP has run very hard over past few weeks and deserves a breather. I am looking to add to my position anyway on weakness.
 
dj_420 said:
Marc

Shareprice has already has a significant rise, has finally found some selling resistance and I now want to see a consolidation period. You dont want stocks shooting to the moon if you want to hold mid to long term.

Nice and easy does it, 2-3% here and there will get you where you want in the end. INP has run very hard over past few weeks and deserves a breather. I am looking to add to my position anyway on weakness.
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It seems that SP has been sideway last few days. Pushing up a bit then down again. The last 2 anns. did not give much strength to the push. I reckon ppl. do not quite understand what is in the ann. "running wirelogs" ... can anyone here explain pls???
 
Im new to this stuff however from what i understand they are basically doing tests to see how much gas or oil they have, please someone correct me if i am wrong. As for the sideways shift, from studying other threads and charts, ive noticed that stocks don't seem to just go up, ive heard others use the term a consolidation phase which is what i think this is at the moment. Either tomorrow or Monday i think we will see a bit more of a shift in the right direction. In my opinion, from all of my reading this stock is still cheap, so be patient. Im certainly not selling any time soon, maybe i will consider whan it hits $2, i believe that is quite possible in the not too distant future.
 
Today's ann has made ppl. moving away from the stock. There would be no more daily report for a while, It is no longer under the eyes of day traders. I reckon only investors are patient to wait for the production phase which is few months from now .... The day traders would keep it in the drawer from now ... IMHO .. DYOR.
 
I agree !!
Thats why i have sold up on INP :)
INP has been very good to me in the past month iam up around 40% cant complain with that :D

Just it appears INP is losing alot of steam after that well announcement
Hope all goes well
Will jump back in later
Prefer to chase these coal seam gas companies at the moment :cautious:
 
I wonder how far it would go until it hits the support line? It has been heading south every day since the last ann. I hope the mgt would do something to stop it from dropping further ... not sure what to do ????

Maybe a weekly ann. / update status to draw ppl's attention ....

I had a good time with it last few weeks but now just sit back and watch .....

IMHO - DYOR ...
 
mapna said:
I wonder how far it would go until it hits the support line? It has been heading south every day since the last ann. I hope the mgt would do something to stop it from dropping further ... not sure what to do ????

Maybe a weekly ann. / update status to draw ppl's attention ....

I had a good time with it last few weeks but now just sit back and watch .....

IMHO - DYOR ...
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I felt the same
After watching it slide
$1 maybe knocking soon ?
others i know are selling
I do feel this is a good stock with a mid to long hold
but its losing support again
Hoping to get back in around 90 cents

Time will tell good luck ;)
 
This one has been quiet for a while too.

They have had a recent announcement... looks like they are on the cusp of producing.

Current oil price should give them a nice boost to earnings if they can ramp up production to thier expected 1000bopd. Hopefully their shareprice will start to reflect earnings potential. Anyone else heard/know anything from this company?

I own shares in this company.
 
All has been too quiet for too long, lets hope it heads up soon :) The announcement just restated what everyone already knew. So nothing to jump up and down about lol. I too hold shares in this company, but atm im down 29%. But its a long term hold so its all good :)
 
I think people have just lost interest. Volumes of trades have been low. I'll wait till they are in production, hopefully should push over 1.50.
Bought at 0.87, 1.04 and 1.08.
 
when are they set to start production?
I have held in the past and made very good returns, although i have noticed the last report was good but the sp has gone down heaps.

does anyone have a current graph? what does it show?

not holding at the moment......but may soon
 
bowseruni said:
when are they set to start production?
I have held in the past and made very good returns, although i have noticed the last report was good but the sp has gone down heaps.

does anyone have a current graph? what does it show?

not holding at the moment......but may soon
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As per the last announcement, they are set to start producing in July, i.e. they should be producing now.

In terms of their chart I'll have a go...

1. Resistance at $1.30
2. Currently looks like it is in a closing wedge which should break out sometime soon, most likely when they announce production. I suppose the only problem is that you don't know which way it will go.

DYOR
 

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I hope I know which way its going. Got deeper in at 0.85 early on today. Not too much pain in the aternoon.

I'd say things will be interesting in the next few weeks.
 
Got this out of todays Commsec Research insight... It might have something to do with the latest increase in share price.

Innamincka Petroleum2: Production to start!
INP Last traded: $0.88 Sector: Energy Market cap: 167m

BUY / OUT PERFORM Valuation: $2.14

Summary of previous report dated 21/07/08
What’s new?
On Friday 18 July, Innamincka Petroleum (INP) announced that oil production from the Flax
field is expected to commence during July. All necessary approvals have been obtained and
the final steps to production are in progress.

The Flax 1 well is now ready to produce.
Flow lines have been installed.
Hydro testing and X-ray testing of all welds is underway.
The separator has been installed.

All that remains now is to complete the testing of the flow lines and to connect the separator
and the flow lines to the tank farm. Early product will be trucked to Moomba.
August, September and beyond…

The Flax 2, Flax 3 and Flax 4 wells are also ready to produce. Flow lines just need to be tied in
and production from these wells should start in August.
INP has mobilised a completion rig on Flax 5. This will be followed by Flax East 1, Flax 6 and
Flax 7. By the end of September, INP could have seven producing wells.
The compressor is on site to begin gas re-injection when the oil flow from Flax 1 tails off; it will
take some months to build pressure.
Valuation and recommendation
INP is on target to produce 1,000bbls/day by the end of 2008. CommSec’s valuation is now
$2.14; while it was hoped that first oil would be in May/June, CommSec had never factored this
into its modelling.

CommSec retains its BUY / OUT PERFORM recommendation.
 
Well if the last three days is anything to go by, if there is good news the price should do quite nicely. I have heard so many great things, but im yet to see it take off and stay there. I just wan't it to break $1.30. I guess we are in volatile times dealing with a volatile product in more ways than one ;) But its certainly got potential.
 
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