Oil Stocks ready to Rally?

[swm79]

i think this is what you're talking about;

http://www.awexplore.com/irm/content/project_newzealand.html

 

[TheAbyss]

Rumour has it that it is AWE

That rumour is from July as is the diggers and drillers article being referred to.

AWE were expanding permits etc and may well have a lot of oil in their patch howveer they are yet to locate it and TUI is declining as per released infiormation.

AWE are a solid oiler and have a lot of prospects however this link to a NZ forum thread shows that this rumour is quite old now.

http://www.sharetrader.co.nz/showthread.php?t=2383&page=9

 

[swm79]

Diggers and Drillers article.... enough said... trying to get memberships it seems

i dont doubt they MAY be correct, but you have to fall back on "sell the rumour, buy the fact"

 

[johnnyg]

How'd you go with CVN Frank, I'd be interested in seeing your chart and explanation.

 

[Frank D]

I haven't followed CVN...

However, it looks pretty good with this week's prices action.

First time in a number of months that there is a break above critical
levels @.57 cents, which aligns with the view of an up move
in September.

You would need to see it stabilise above .63 for a move towards
.77-82

 

[ThingyMajiggy]

Weekly CVN looks fairly strong from my view point, big buying in the last 2 weeks, big push up this week, agree with Frank here, I would say we will move towards .70 area, 2 gap ups on the daily, watch for tests. Weekly has had some beaut entries too.

Sorry if I'm intruding on your thread frank, good idea though will be interesting to see what plays out.

in the words of a wise nun, "as you were".

 

[Frank D]

Sorry if I'm intruding on your thread frank, good idea though will be interesting to see what plays out.

Sam,

It's not my thread, it's our thread and everyone else's

I only started this thread just to alert that there were some potential plays
in oil stocks during September and into the 3rd quarter and the start of the
4th Quarter.

OIL Weekly

At this OIL still remains supported, but I would perfer to see OIL trading near the highs coming into the end of the month...

I certainly don't want to see OIL trading near the 50% levels coming into the end of the Quarter.

 

[JeSSica WaBBit]

Not sure if you have been watching CUE Frank but the price is beginning to accelerate upwards as i suggested a few weeks ago.

Todays close was at 28 cents with a very comforting strong close. I remian bullish on this stock for all the reasons i previously posted with news expected by 30th of September about MEO JV partner, update on Oyong gas (should be production start up any day), up date on flow rates and revenue from Maari and also progress on drilling of M2A.

So we have gone from 21 cents to 28 cents in a month.

This stock has been due a revaluation for some time and i think the market will wake up once the MEO JV announcement is made.

Good luck to you all whatever stock you are on.

JW - portfolio a very nice shade of GREEN

 

[CapnBirdseye]

PCL went on a similar run today. No idea why.

 

[TheAbyss]

I received a rave review today about an apparent huge oil deposit off the west coast of NZ that is going to be drilled before the end of the year. Anyone know where and particularly who??

Well the oil rumour was just that, a rumour however AWE have reported a significant gas find in WA which Origin is a JV partner (ORG 67% AWE 33%).

Funny how things work out sometimes isn't it. Not an oil find but thought i would post as it relates to an oil post. Hope that is ok.

 

[JeSSica WaBBit]

Hi Abyss,

Not sure but this may help you...........?????

CUE is currently drilling M2A and the they have begun production at Maari which is off the west coast of NZ with JV partners OMV & HZN.

Manaia and Matariki looking like they have potential.

see here
http://www.cuenrg.com/index.php?option=com_content&task=view&id=20&Itemid=36

For more information see some of their recent announcement, presentations and quarterly reports.


JW

 

[Frank D]

NYMEX:- OIL Monthly


First month high reached @ $76.00, with an expectation of higher prices into November (2nd month).

Between now and November is a long time:- October highs could resist
price and then continue higher in November using the Weekly 50% levels
as trailing support.

or October will continue to breakout and trend into November:- break
and extend pattern towards $84.00

Eventually OIL was going to follow the trend higher, but I thought
September was going to move upwards.

The important pattern is that price is above the Yearly 50% level and
could remain above this level for the rest of the 4th Quarter.

3rd Quarter target was over $100, but the 4th Quarter target is based on
$84+ or November's highs.

 

[prozac]

Be careful in any rally of oil stocks Bounty Oil (BUY) and Drillsearch (DLS) as they are most likely pumps and not the real deal.

 

[nunthewiser]

PCL agaIn from around here ..................... 3.3/3.4.......

TIGHT STOPS

 

[Agentm]

watch for the dynamic trio aut eka adi.. about to run.. amny wels to come and plenty of interesting frac ops in progress. upside pretty spectacular on any success

 

[nunthewiser]

PCL agaIn from around here ..................... 3.3/3.4.......

TIGHT STOPS

Well done nun you are a guru.

 

[CanOz]

With the CL contract quickly approaching support (hockey stick), it may be a good time to start watching some oil stocks again....

 

[dlineinvestor]

With the CL contract quickly approaching support (hockey stick), it may be a good time to start watching some oil stocks again....

Opec making the rules and their not playing the game.
Wonder why they aren't cutting production. That along with aud and IOre savaging today.
Which stocks would be your picks ?

 

[Faramir]

BPT, DLS, SXY?? Or ORG and STO?? for larger caps. I still think oil price has a bit more to fall. Why? A guess, someone in the world wants to reduce Russia's oil income. Saudi Arabia producing extra oil and someone will owe them a favour one day. Everything I am saying is just speculation amd a guess?

Sad in a way. I like Senex Energy and its gas future, debt free account. If it goes lower: taekeover??? How can I speculate?

 

[So_Cynical]

Santos down 10%+ today and now trading at under $10.50, i will try and buy some cheap 12 month calls.