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NGE - NGE Capital

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Trading Halt for significant capital raising !!

Does this mean more shares on issue or a deal for a farmin partner has been reached ?
 
Lucky_Country said:
Trading Halt for significant capital raising !!

Does this mean more shares on issue or a deal for a farmin partner has been reached ?
Click to expand...

If it was a farm-in partner they would be shouting it from the roof tops. No, they want more cash - yours and mine to be precise. Not that this is a bad thing - it will cost 5 mill USD to put a hole down and I would rather see them do their farm-in deal on their feet rather on their knees.
 
Now would they be able to raise a "material" ammount from a share placement ?

Companies need shareholder approval for an issue of over 15% of existing shares so doing the maths 75 million shares x 6c only equates to $3.75 million.

Would they really go into a trading halt for almost a week for a shareplacement ?

Only time will tell but a farmin deal could be a company maker and the right terms.
 
Gee nothing at all suspicious about the large amount of buying thats been going on...right before a trading halt.

I might consider pointing ASIC in the direction of NGE if I'm not happy with the ann or the way the sp reacts.

Don't get me wrong, I like the tennaments that NGE have, but after reading that last article about the Towners and the strage connection to media people and companies....something just isn't sitting right for me.

Continue to hold a very small parcel though, so limited down side for me.

DYOR
 
Towners and Aspermont have a large ammount of shares vested in this company the last thing they are interested in is the company failing.

I feel at some stage the current management team will be moved on for the development stage and more up to date team will take over.

The new capital raising maybe a good thing for the shareprice and give the company stability and further bargaining power for a farmin partner.

All good imo
 
Ive yet to really see a share placement (if thats whats coming) do much good for a stocks sp.

In fact whilst it can do in the short term depending on when you have to be holding the stock to take part in the placement.....Ive noticed the the sp usually gets hammered after the ex fate.

However I guess BOW was the first stock ive seen to ann a cap raising and their sp NOT get hammered after the closing date of the rights issue.
But that whole sector has been really heating up lately (AOE etc etc).

Unless as you say, its the announcement of a another company coming into play...but I could class that as a JV notice which is clearly not the case as stated in the announcement the other day.

On the upside though, I would think that its only a matter of time perhaps before OSH may farm into NGE.
NGE's tennaments back onto some OSH producing fields I think, so theres a cheap way for OSH to gain access to possible researves upgrades.

Its only a matter of time before goes up again.

http://www.oilsearch.com/Our-Activities/PNG/Kutubu.html
 
I think in todays market the certainty of a capital raising is looked upon as a positive giving the company needed capital to continue operations.

I too think that deals are now back on track and its only a matter of time before NGE gets a farmin partner at their asking price that will really give the shareprice a boost.
 
So Lucky_Country, do you have any negatives or concerns about this stock?

You just seem so bullish on it, I'm starting to think your on the board of directors

As for the announcement, I'll be working tomorrow, so probably wont get to see what it is or what happens till I get home.

Bit of a bummer that.
 
wow thanks for that Wontok

It seems Eaglewoods PPL260 backs onto NGE's PPL277.

Oil search are the go imo.

PNG is so unexplored and the next place to take off as far as investments go.
 
The acreage Oil Search farmed into (ppl260) also abuts NGE's PPL269 near Juha as well as 277. I wouldn't be surprised to see some more interest in the entire area soon.
 
Jeremy Towner has passed away over the weekend!!!

I'm a bit worried about what will happen to his 77Mil shares in NGE.

If they get sold off the sp will tank hard!

Anyone know what happens in this situation?
Do the shares get passed onto the wife?

Not good news all round!
 
Moving up nicely in spite of last weeks tragic news. There is a fair amount of movement amongst the oil juniors at the moment but this doesn't seem one to move with the herd. I have a sense that something is up here. Anyone heard anything?
 

hi go nuke

this is a huge loss to the company and whoever they get as new M.D they'll have some very big shoe's too fill.

i've spoken with and had a number of emails over the past year or so with Jermery, i've always found him extremely polite and very very helpful.

one would guess he would leave any assets held in his name too his family, especially his wife.

in terms of farming out it's assets, NGE have a very short list. lets hope they can announce something very soon, market conditions haven't helped with the process.
 
I'd still like to know more info on this company Asia Image Limited which hold over 10% of NGE.

Mr Towner was to ring me in regards to this question but I have had to put that on hold for obvious reasons.

Can ANYONE shed some light on this company?????
 
wow people haven't been able to get out of this stock fast enough lately.

Promises of news and JV that have stretched out far too long is why imo
 
Go Nuke said:
wow people haven't been able to get out of this stock fast enough lately.

Promises of news and JV that have stretched out far too long is why imo
Click to expand...

Volumes are tiny. Illiquid. Fast to rise. Fast to fall. Good pointer to future prospects - blue sky or oblivion, take your pick. I'll hang around for the blue sky and won't lose sleep about the other.
 
J.B.Nimble said:
Volumes are tiny. Illiquid. Fast to rise. Fast to fall. Good pointer to future prospects - blue sky or oblivion, take your pick. I'll hang around for the blue sky and won't lose sleep about the other.
Click to expand...

Agreed.

Markets selling off, Oil price predictions becoming bearish and negative sentiment returning all adds up to weakness in this type of stock.

I'm in at .056 and if it heads back down again, i will most likely top up with some more.

It's a boom or bust.
 

If it is a boom it will be noticed...
PPL267 Panakawa P50 estimated oil in place =187mmbbl
Active surface seeps
NGE 100%
Estimated cost to drill 5mill USD
One km from Panakawa wharf - cheap to develop
If we get a hit and assume 40% recovery then we're looking at 75mill barrels of oil for a very modest investment.
NGE current market cap - 488mill @0.06 = 30mill
Nice odds...
 
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