IPB - IPB Petroleum

[System]

IPB Petroleum Limited (IPB) is an Australian oil and gas exploration company that has an interest in two petroleum exploration permits located in the Browse Basin, offshore North West Australia.

http://www.ipbpet.com.au

 

[Paavfc]

Beaten down oil stock having a bounce...
Still plenty of value i their WA offshore blocks !!!

 

[greggles]

This morning IPB Petroleum announced a substantial increase to the estimated oil resources at Idris in the company's 100% held WA-424-P Permit in the Browse Basin offshore North West Australia.

Following the recent completion of the Company's 3D seismic reprocessing and depth conversion project, IPB has now completed a thorough technical review of the prospective oil resources attributed to the Idris prospect. As a result the Prospective Resources for the Idris prospect have increased on a most likely basis (P50) from 33 MMBBLS to 69 MMBBLS of oil (recoverable), whilst the Geological Chance of Success being an oil discovery at Idris is now estimated to be 40%. Similar prospective resources increases were registered at the Low Estimate (P90), and High Estimate Level (P10) to being 20 MMBBLS of oil (recoverable) and 159 MMBBLS of oil (recoverable) respectively.

With only 160 million shares on issue, IPB's market cap is still only $2.4 million, even after today's 36.36% rise in share price to 1.5c.

 

[greggles]

IPB Petroleum moving north confidently in the last two trading sessions, today and Monday.

IPB recently raised $0.8 million through an oversubscribed placement of 40 million share at 2c a share. They released an Investor Presentation today that is worth reading. Market cap approximately $6 million.

 

[barney]

Positive looking Chart for a minnow Oiler …

Cash on hand after cap-raise approx. $1 million

Interesting Project/s but they need to secure a Farm-out Partner to move forward. Current price action indicates the Market is confident … we shall see

 

[greggles]

Positive looking Chart for a minnow Oiler …

Cash on hand after cap-raise approx. $1 million

Interesting Project/s but they need to secure a Farm-out Partner to move forward. Current price action indicates the Market is confident … we shall see

The market has definitely been confident in the last couple of days as the IPB share price has surged from 3c at the close on Wednesday to a high of 7.2c today.

In response to an ASX price query dated yesterday, the company said:

In addition to our ongoing farmout process for the planned drilling of the Idris well, IPB notes Quadrant Energy and Carnarvon Petroleum’s recent Dorado Oil Discovery offshore North Western Australia located in the basin just south of the Browse Basin where IPB’s offshore Permits are located, and also the $2.15B acquisition of Quadrant Energy by Santos announced yesterday

So it looks like nearology appears to be the main reason for the share price increase in the last couple of days. Or at least that is what the company is suggesting. I'm not sure I'd be jumping on board on that basis, but I'll certainly be watching with interest from the sidelines.

 

[barney]

I called this over extended before open of trade this morning ….. looks positively distorted now

Currently testing the tough 10 cent zone but the Volume is still high. If it jumps the river into 10.5 before the close it could go anywhere but 10.5 is a tougher nut to crack than 10 of course. The day traders are loving it at the moment.

 

[HelloU]

and two weeks later having another crack ....... but IPB are doing some self-marketing so maybe it has legs?

 

[Springs]

I have chose IPB for December competition because oil on the rise and the Browse basin is hotting up with further progress with a potential farmin partner for Permit Wa - 424-P ( IPB 100 % ) $12.3 million Market cap & 286 million shares no debt and recent change of Directors interest makes this tiny Oiler my pick always dyor Springs