NGE - NGE Capital

[Lucky_Country]

Well what a great deal worth approx $100m with a oil and gas major reportedly Talisman !!!

6 wells included sesmic surveys and NGE still retain 30% of PPL 268 and PPL269 a further deal maybe for PPL267 all are very prospective tennaments in a world class area.

Throw in a drill rig at competitive rates and NGE to go it alone on the ramaining acerage things are lining up for a great great company.

DYOR

 

[haggis]

I see the sp is bouncing around the 10c mark. Does anyone have info on drill rig tenders, re farm in partner. Not much info on the company website.???

 

[J.B.Nimble]

Luverrly announcement. This has been so kind to me They've got the right farm in partner and what a deal - enough cash comes in for them to drill the juicy target of Panakawa 100% by themselves... Interesting coz it is almost identical to the deal anounced in the HOA agreement some time back - since then there has obviously been a lot of discussion about a buy in to PPL 267 but in the final wash up the deal has been done and they have hung on to PPL267 - suggests NGE held the whip had in the negotiation and Talisman wanted in regardless.

And of course Talisman have got the deep pockets to be a potential bidder for more than just a farm-in interest.
http://www.bloomberg.com/apps/news?pid=20601082&sid=aW8TNvjex25M

It will be interesting to see where this goes betwen now and year end - going to be a very interesting hole before Xmas. Nice....

 

[Shrewd Crude]

I just looked at NGE and seen that it has 6 onshore permits in PNG which is going to take off because of PNG LNG developments with OSH over the years...
I like the look of this stock...
rare land holding investment opportunity here as all the good blocks have been snapped up...
anyone with any thoughts?

.^sc

 

[Lucky_Country]

They have just done a great deal with Talisman and still kept the jewel in the crown PPL267.

PNG is the place to be close to asia major oil and gas province a great investment.

 

[jetblack]

Shrewd,
Heres a link from Moyes & co.
http://energy.ihs.com/NR/rdonlyres/...013704F/0/II4_Moyes_NAPE_Aug09for_website.pdf

Moyes & co have also done an article prior to the death of J.Tower.

NGE have great onshore areas, this deal with Talisman is strong. PPL 269 Stanley Gas fields they are already pulling Gas from next door.

100% 267.

There are other PPL yet to be farmed. PNG LNG is huge business. Some say the new frontier, nice and tightly held share register.

Articles in todays AFR & SMH.

Been holding this since June , re-rating by mkt, imo a sleeping giant

DYOR.

 

[Shrewd Crude]

jetback,
absolutely...
thanks for the post...
I bought into NGE today at 20cents...
I wrote up some good info, but then it got deleted...
I will post it again this weekend...
wow, This stock is a rare find...

grab anything you can in PNG, set to rip it up with PNG LNG...

.^sc

 

[Shrewd Crude]

opps... I kind of forgot to put the post up here...

here is an overview of New Guinea Energys 6 permits within PNG...In the Paupan Basin where 350 wells have been drilled to date with extensive success makes this a prolific region for LNG expansion (of both reserves and further exploration upside), which has bought on the PNG LNG project.... with International large oil, ASX Large Oil, and a select group of ASX junior oilers set to benefit on a scale not seen by any of these juniors companies...
4 Junior ASX oilers (that I can see) positioned in this region (NGE, CUE, HZN, MOS)...
here is a picture, where I have drawn in NGEs 6 permits...

PNG LNG is set to give big exposure to NGE with its super large portfolio of acerage and most importantly our 2 permits right in the middle of the whole project... (and three other significant, but less important permits off to the west)... and permit PPL 267 with up and coming drilling...

-permit PPL 277 which is the first most northern permit to the Fold belt,
which could be described as a series of 10 plus oil and gas fields, all on trend which will be developed into PNG LNG...

-permit PPL 269, another exciting permit which lies in the upper region connecting to the fold belt through a Dog Leg and surrounded by big discoveries to the North, South and East with potential for the Stanley Gas field overlapping into our permit... (recent Talisman, HZN deal)....
The main reserves surronded by this permit (P'nyang, Hides, Juha North)
compromise the Northern PNG LNG Train, which PPL 269 could be tied into...
-Permit PPL 267 with oil seeps, and target well named Panakawa...

So basically NGE has two permits right in the sweet spot of the PNG LNG project (PPL 269,PPL277) which SHOULD hold major focus for oil majors NOW as they get themselves positioned to take advantage of full scale development of the region...
Little NGE without reserves, but with a swagga of tasty permits.... oh my.... Ive not seen it like this before... what a treat...



Down the line this investment will really perform from two angles...
1) oil and gas exploration
2) holding strategic assets

The most important thing you must realise is that we dont need to discover oil/gas for NGE to perform... because we are tied into the vast, expansive development of the region, by being positioned with permits right in the middle...

Just like the Queensland Coal Seam Gas industry, the testiment to value behind PNG LNG is hidden in all the transactions/mergers/acquisitons that have taken place to date...
In the last few months these transactions have really blown out, exposing the region in what were previously stranded gas assets
Deals include- the Sasol deal, Oil Search farmins on the back of OSH selling down a small stake in PNG LNG to further expand on underdeveloped exploration targets (which is very good news for the likes of CUE), and of course Talisman- HZN, Talisman-NGE, Talisman-Rift oil... P3GE selling PRL5 to Santos... the list goes on...
Oil Search is set to book 550 million Barrels of oil reserves (BOE) from PNG LNG, and triple its production profile going forward...

In the Picture at the top the Blue Arrow signifies the (roughly drawn) proposed Gas pipeline which will transport gas to an LNG facility 20kms Northwest of Port Moresby where gas will be liquified and shipped to World Markets...

I am hearing that this month, Oil Search is going to announce some further cost cutting initiatives that will come to market... Did you also know that out of all the LNG Projects Worldwide pending Final Investment Decision,
that PNG LNG has the lowest Capex already?
Yes, Ichthys, Gladstone (CSG) capex approx 30% higher...

this is technically not a risky investment...
Front end large returns come from exploration drilling, but it is always good to know that we fall back on PNG LNG as we feed off the developments from the majors in the region as construction begins early next year, followed by mecca production 2013...

Oh my,
Over the last few years I have not been rampant about too many oilers...
This is one to seriously rampage about...
These sorts of investments do not come around very often at all... Sure there will always be returns to be made on the sharemarket... BUT, not like this...
This story, and the whole Queensland CSG story comes on a totally new level... Since when should there be such things as a low risk 5 bagger?...
low down, big up....

Gone were the days when one needed to invest in high risk, high cost, offshore (eg WA at the moment taken off)... A small window of opportunity over the next few years has presented itself, just as large as offshore drilling, but on a whole new risk level as the costs are lower...

Make sure you get positioned in PNG, and make sure you get positioned in the Queensland CSG...
These stories only get bigger and better...

... wow... I still cant really believe we are positioned right there with a market cap of what 80 million?
on a project that will earn trillions of dollars...
and we roll with the big boys who get the job done...
There will be no mistake about that...
im in at 20c, thinking of loading up in a serious way...
I might just have to average down or up...

I would seriously love to post my price prediction of what this should be trading at in a few years...
but im not sure I can...
think about it...

.^sc

 

[Putty7]

Announcement of Capital Raising – Share Placement

Total Raised $18.5 million

New Guinea Energy Limited (NGE) is pleased to announce that it has reached agreement to raise $18.5 million by placement of 112,121,210 shares at $0.165 per share to sophisticated or professional investors in accordance with section 708 of the Corporations Act 2001(Act).

The fundraising was managed by Bell Potter Securities Limited and was strongly supported by both institutional and sophisticated retail investors.

In accordance with Listing Rule 3.10.3, NGE provides the following details of the placement:

Class of Securities: Ordinary Fully Paid

Number to be issued: 112,121,210

Principal Terms: The shares issued will rank equally with existing Ordinary Fully
Paid shares on issue. Shareholder Approval: Shareholder approval was obtained for the issue and allotment of the 100,000,000 shares at the General Meeting held on 11 November 2009 and the Company also has the general authority under listing Rule 7.1 available.

Issue to Class: The issue is not being made to a class of security holders.
The funds raised pursuant to this share placement will ensure that the Company has access to sufficient working capital to fund its exploration activities in the immediate term which are critical to the successful development of the Company.

Just wondering why this thread has gone quiet, they have had a successful cap raising at .165c, SP dropped to .18c and bounced back to .195c, with drilling coming up in December-January on a huge resource, think the value is calculated at somewhere around $5.00 per share value, the assets this company hold are massive, great farm in deal on 2 blocks, PNG LNG is looking good to go forward in the same area, don't know if I am missing something I should be seeing other than the fact it is in PNG, holding at .188c.

 

[Putty7]

Just wondering why this thread has gone quiet, they have had a successful cap raising at .165c, SP dropped to .18c and bounced back to .195c, with drilling coming up in December-January on a huge resource, think the value is calculated at somewhere around $5.00 per share value, the assets this company hold are massive, great farm in deal on 2 blocks, PNG LNG is looking good to go forward in the same area, don't know if I am missing something I should be seeing other than the fact it is in PNG, holding at .188c.

Bit red faced so far over this one, the SP never held up it's end, bouncing between .13c and .14c at the moment, topped up today at .135c to bring the average down, the fundamentals haven't changed, they should announce a drill soon I would think, was scheduled for December originally so waiting patiently on the announcement, huge drill target on their 100% owned block and close to a wharf so production facilities should be easily catered for if they have success.

 

[Go Nuke]

Im suprised more people don't follow this stock on ASF.

It has alot going for it longer term. Though the latest announcement was a bit of "so what" from my point of veiw. Obviously the market thought so too.

Guess things will saty quiet until drilling begins....whenever that will be...2010 sometime.

Really not happy about those incentive options (rights) the directors just gave themselves.
I totally voted aginst that rubbish.

Lets see what 2010 brings us NGE holders.

 

[SuperGlue]

Im suprised more people don't follow this stock on ASF.

It has alot going for it longer term. Though the latest announcement was a bit of "so what" from my point of veiw. Obviously the market thought so too.

Guess things will saty quiet until drilling begins....whenever that will be...2010 sometime.

Really not happy about those incentive options (rights) the directors just gave themselves.
I totally voted aginst that rubbish.

Lets see what 2010 brings us NGE holders.

We'll looks like NGE SP is making its move now & stay that way (hope)..... having secure a drilling rig, expected to commence in early second quarter.

http://www.asx.com.au/asxpdf/20100217/pdf/31nr2gs2hcf9xp.pdf

Can't do much for the incentive options, they all do it.

 

[SuperGlue]

NGE got a speeding ticket & please explain.

Definitely not me, after posting the article, your honour.

 

[Putty7]

NGE have the Panakawa drill coming up this month (June), they have alluded but not stated or announced that they may drill a back to back drill at Panakawa North which is 9 kms away from the Panakawa prospect.

At present the vessel to carry the drill and associated gear is in port in Townsville and should be loaded and sailing for PNG at 5pm tommorow.

Spud date is yet to be announced but around the middle to end of June would be likely.

Seismics for some of the other areas are due in soon, probably June/July.

Talisman is to drill 2 wells before the end of 2010 on the 2 farmin blocks and should be announced soonish.

50 million shares (at 20% discount) were approved at the last agm for a capital raising so they may be out and about soon although I would think they will wait for the spud rise and release them accordingly.

The Panakawa well is long awaited with it originally due in December 2009, it will be good to see it go down, the prospect of Panakawa North may also get drilled due to cost savings and having a rig available which seems to be a problem in PNG with a shortage of drill rigs. Yet to be announced but I would think if they are going to drill it they would announce it soon.

The oil samples from the seeps at Panakawa look to be light crude so a find should put us in the good oil so to speak.

 

[J.B.Nimble]

NGE has multiple opportunities for high reward over the next 6 to 12 months. Being the eternal optimist, I am expecting this on the first well...Based on months of study I have resolved not to have a contingency plan in the event of a less than spectacular result. Nuts? Possibly... but if we get a hit the "gone fishing" sign will go up on my office door...

 

[haggis]

NGE SP had a bit of a jump today, to a high of $0.245, and finished at $0.22.This was after an ASX announcement that the CEO/Director bought 500,000 shares on market.Worth about $104,000
Maybe an announcement on the drill rig being landed tomorrow.
Keeping a keen eye on this first hole, and crossing fingers for a bit of success first up.Huge potential in the next 6 months

 

[Putty7]

Drill rig that is going to drill Panakawa should be going through customs in port Moresby by now, from there it is to go directly to Panakawa, expect an update this week or next week regarding rig movements and possible spud date of Panakawa.

 

[Putty7]

Latest update, the drill rig has arrived onsite at the Panakawa prospect, not sure about the relevent gear that is to go with it but I would expect a spud date announced shortly.

 

[haggis]

Attached is the latest Company announcement on the rig. Looks like about 700 tons of gear are travelling with it.

 

[haggis]

OOPS.forgot to put the other announcement on detailing the 700 tons. No detail on what parts make up the weight.View attachment 01069560.pdf