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INP - Innamincka Petroleum

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Unfortunately Comsec's evaluation of INP in Dec 2007 does not consider oil prices above $65/bbl so it is difficult estimate the effect of oil price.
 
Its the immininent departure of the 368,000 shares shorted that fascinates me although the oil price being above those comsec used cant be bad
 
now shorter has reduced to 214,000 shares wonder how much time he has lefyt to get rid of them still he has covered 100,000 oor so
 
pacestick said:
now shorter has reduced to 214,000 shares wonder how much time he has lefyt to get rid of them still he has covered 100,000 oor so
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can you explain to me what your above quote means or indicates is happening to inp? not that i'm holding very many of these guys any more, but still have a couple
wayne
 
Re: INP - Innamincka Petroleumhttps://www.aussiestockforums.com/forums/images/smilies/

This sis all new ground to me I have never taken much notice of shorting before as far as I can see the shorter has to buy the amount of shares he is short by and of course no more shorting can occur until the end of the none shorting period I do not know if shorters have to operate on t plus 3 trading days before settlement if so as friday was the last day on which they could short then the shorter has to buy the shares to cover the short by close of trade tomorrow creasting upward pressure on inp price for the day as I Said I am not really sure of how it works just know that getting rid of someone who wants to pres the price of my share down to make a quick buck is good
 
wednesday came and went so i guess I got that wrong at leat i ma consistent in being wrong amazed I have stayed in markrt so long
 
I'm sitting tight on this one. Any moves before an announcement are purely speculation. A few people seem to be leaving small positions and letting the SP trickle down after last weeks 25% spike - quite happy to mop up a few. Volumes are low, so its not of any real consequence.

Not sure about last weeks spike. Anyone see anything on a research sheet or something?

I found the in depth August Comsec report on INP's website - if anyone is interested...

http://www.innapet.com.au/upload/news.pdf
 
Thanks, captbirdseye... been looking for the official commsec version.

should have thought to look on their website :banghead:
 
.....and we all wait for things to happen down on the farm.

Till there's some real progress towards 1000bopd I dont see the SP getting anywhere near Comsec's new valuation of $1.77.
 
No news is good news? To be honest given the bashing of the SP, it would be best not to keep shareholders in the dak too long.
 
aye ayr capn birdseye there will be a mutiny if they dont get their act together soon. Still no word on the water in the well
 
comsec have issued a report for private customers presumably they pay more . The report is positive . The water is being pumped out of the well but the rig is not ideal and therefore is taking longer. Flax 2 should start producing today. Flaz 4 is tested and ready and will use the pipe from flax 2. The oil is being trucked to brisbane which is costing an extra five dollars a barrell over delivery through moomba . No word on what the problem is or when it is likely to be ficxed I still think that 310 bpd x a maximum of $70.00 per barrell ids a lot less than daily expenditure. Moomba needs to be fixed as reserves of cash may still be being depleted . comsec seems to think this is enough cash flow am bit sceptical without actual figures
 
From Commsec Research Insight today:

BUY / OUT PERFORM Valuation: $1.78
On 30 October, INP filed its September quarterly report.

INP operations
INP has been trucking oil to Brisbane while it has had issues with its receipt at STO's Moomba operations. The cost penalty is about $5/bbl.
Flax 1 and Flax 3 have continued to produce, and are now at just over 300bbl/day.
Flax 2 has completed its work-over, the pipe has been built to tie in, hydrostatic has been completed and it is expected to be producing and on-line by 7 November
Flax 4 is ready and will use the pipe from Flax 2.
Flax 5 is being de-watered, but the drill rig doing the bailing out is not well suited to the task, as the most suitable rig is currently engaged, and so it is taking a long time.
Testing of Flax East will take place after Flax 5 has been tested for the oil flows from each sand.

INP progress
INP presently has many issues for which it working towards answers, but at present, there is an overwhelming number of issues to work through and the path is not clear.
These are detailed in the body of this note.

Investment view
The current share price gives a market cap for INP of $A 77m.
There is significant uncertainty on any valuation of INP. However, INP has enough cash plus it is generating enough cash to grow its operations.
Accordingly, CommSec retains its BUY / OUT PERFORM recommendation.
 
Does anyone know if flax 2 was connected up and how far inpo is progressing with flax 5 dewatering and resolving the problem at moomba or at least with the truck so that the moomba facility can be used again
 
Yeh these clowns are poor performers as to keeping their share holders informed about progress, How about a bit of communication !!!!!!!!!!!!!!!!!!
(you never know it may help the s/p):banghead::banghead::banghead:
 
hi there !!
Nows its a new year :)
any thoughts on inp @ 16 - 17 cents

Or should we all keep on the fence for a bit more ??

Is INP a viable company ?
 
Who Knows they never inform the market as to what is going on in the field.
I have thrown mine into the bottom draw:(
 
Im with Dandyjac if this lot could hold a secret Annual general Meeting they would. We dont even know if they have managed to bail the water out yest we do know that they are shipping through moomba again which is saving $5.00 a barrel
 
INP to farm ouit various of its interests could this be the coal seam gas nearby or is it just that they have run out of money to develip flax field
 
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