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OIP - Orion Petroleum

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Hi ALl

any one is following this script ? Noticed no update for 3 months and one director made a modest investment probably just to keep the scrip tradeable
see attached:confused:
 

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  • OIP DIRECTOR DEC 08.pdf
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This is a stock I follow pretty closely. Liked it when it was first floated at 20cents (thankfully didn't subscribe to the float) but very keen on it now. It holds some very high potential areas - basically all of ESGs oil areas but this also included some CSG tracts which ESG is now drilling for them. Probably the best part though is the fact that ESG floated them with a large chunk of cash to pay for exploration. Unlike every other explorer that is trying to find cash in this environment - they have loads.

At the current price range (about 6-7cents)you are getting over 10 cents per share cash in the bank as well as all the real estate!!! In this market - (IMHO) a bargain.

PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES - SO MY OPINION IS BIASED!!!!!

malachii
 
malachii said:
This is a stock I follow pretty closely. Liked it when it was first floated at 20cents (thankfully didn't subscribe to the float) but very keen on it now. It holds some very high potential areas - basically all of ESGs oil areas but this also included some CSG tracts which ESG is now drilling for them. Probably the best part though is the fact that ESG floated them with a large chunk of cash to pay for exploration. Unlike every other explorer that is trying to find cash in this environment - they have loads.

At the current price range (about 6-7cents)you are getting over 10 cents per share cash in the bank as well as all the real estate!!! In this market - (IMHO) a bargain.

PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES - SO MY OPINION IS BIASED!!!!!

malachii
Click to expand...

Thanks Malachi for your opinion and candidness of a perceived biasness. We get many rampers in this column but they hardly disclose their interest

I also do not hold so nothing to disclose from me

However how could I invest 6 to 7 cents and get 10 cents in the bank ? Is it because of their cash in hand as per latest account ? But that is often misleading because I will never get it in hand ? Or you are suggesting they will give some rights where probably I will be able to encash the 10 cents

My :2twocents question for you ;)
 
hi miner/malachii ,

I hold these as well and is my ASF competition pick for FEB (so I hope it does well) , I have been waiting for the netallie prospect to be drilled , however drilling by ESG for CSG will do me for the interim , which should start anytime now .

Malachii I take it is saying , market capital at previous close of 6c with 115,500,000 shares on issue is $6.93 million , OIP has $13.27 million cash as of most recent quarterly which equates to about 11.4 cash backing per share quoted and if you add permits to the equation OIP is way undervalued by the market.

Octanex and Cue Energy director EG Albers bought a good chunk mid last year , and I think ESG still have 23% shareholding.

ESG's Blue Hills 1 is watched with close interest by myself and is south of OIP's permit border and Edgeroi 1 has intersected 23m of coal including 10m in the Bohena seam.

ESG internal estimate of OIP's permits could contain up to 3500 BCF
 
Thanks Melachi and Seasprite for thought provoking input on OIP.
Yes I have already seen Seaspirite's tip for Feb:)
 
OIP management - interesting to see (from OIP website) Alternate Director to DJ Morton

David Casey graduated with Honours in Geology from the University of Sydney in 1991 and in the same year joined specialist coal seam gas company In Situ (Australia) Pty Ltd. In 1996, he formed his own coal seam gas consultancy business, and subsequently was a founder of Multiphase Technologies Pty Ltd, a provider of coal seam testing services. David has over 15 years experience in the management and evaluation of all aspects of coal seam gas exploration and appraisal, from initial reservoir characterisation and fairway identification through to drilling, testing and production operations. Between April 2001 and October 2005 he was a director of Molopo Australia Limited. He was previously Executive Director - Operations and is presently the Managing Director of Eastern Star Gas Limited.
 
Sorry guys for the delay - work conference on and cant get near a computer.

Seasprite is exactly right - he cleared my comments up nicely. I thought is was over 11cents but wasn't game to say that as I hadn't checked the numbers properly recently.

I'm also waiting for their oil drilling to start again but the CSG exploration that ESG is doing looks very good. From memory (please do own research - I'm not anywhere near my notes due to being away at this blasted conference) the drilling is very near the area that QGC was developing - had some great results there (Surat Basin comes to mind??). So I'm very hopeful. Think the results come out towards the end of March.

Even if the results aren't great - as I said in the previous post - they have plenty of cash to do the exploration and now there are plenty of specialists and equipment available at decent prices. I think this one will be a good one....but as I said before....

PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES - SO MY OPINION IS BIASED!!!!!

malachii
 
malachii said:
Sorry guys for the delay - work conference on and cant get near a computer.

Seasprite is exactly right - he cleared my comments up nicely. I thought is was over 11cents but wasn't game to say that as I hadn't checked the numbers properly recently.

I'm also waiting for their oil drilling to start again but the CSG exploration that ESG is doing looks very good. From memory (please do own research - I'm not anywhere near my notes due to being away at this blasted conference) the drilling is very near the area that QGC was developing - had some great results there (Surat Basin comes to mind??). So I'm very hopeful. Think the results come out towards the end of March.

Even if the results aren't great - as I said in the previous post - they have plenty of cash to do the exploration and now there are plenty of specialists and equipment available at decent prices. I think this one will be a good one....but as I said before....

PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES - SO MY OPINION IS BIASED!!!!!

malachii
Click to expand...

No wonder you were at conference Malachii

That explains why there was no trading for OIP for yesterday and today.

Keep the ball rolling and put your money tomorrow again to make the parcel looking more decent :D:D:D
 
Fulfilling Farm-in Obligations

Sydney, Australia – 6 February, 2009 – Eastern Star Gas Limited (ASX:ESG OTCQX:ESGLY) today
announced that it has commenced the Moree North Seismic Survey within Petroleum Exploration
Licence 6 (PEL 6), near the township of Moree, in the state of New South Wales, Australia.
Mr David Casey, Managing Director of ESG, commented that, “the 100 line kilometre 2D seismic
survey is being carried out as part of ESG’s farm-in to three Orion Petroleum licences in northern
NSW. Data acquired from the survey will assist in finalising the location of a coal seam gas corehole,
to be drilled later this year that will satisfy ESG’s Stage 1 farm-in commitments in PEL 6”.

refer http://www.orionpetroleum.com.au/
 
seasprite said:
Fulfilling Farm-in Obligations

Sydney, Australia – 6 February, 2009 – Eastern Star Gas Limited (ASX:ESG OTCQX:ESGLY) today
announced that it has commenced the Moree North Seismic Survey within Petroleum Exploration
Licence 6 (PEL 6), near the township of Moree, in the state of New South Wales, Australia.
Mr David Casey, Managing Director of ESG, commented that, “the 100 line kilometre 2D seismic
survey is being carried out as part of ESG’s farm-in to three Orion Petroleum licences in northern
NSW. Data acquired from the survey will assist in finalising the location of a coal seam gas corehole,
to be drilled later this year that will satisfy ESG’s Stage 1 farm-in commitments in PEL 6”.

refer http://www.orionpetroleum.com.au/
Click to expand...

thanks Seaspirite

I noticed that too. However since OIP is a spin off from ESG how this announcement will help OIP share to boost ?

THe movement was little though upwards for OIP today after some lack lustre days

Regards
pS I do not hold neither ESG nor OIP
 
Miner said:
I noticed that too. However since OIP is a spin off from ESG how this announcement will help OIP share to boost ?

THe movement was little though upwards for OIP today after some lack lustre days

Regards
pS I do not hold neither ESG nor OIP
Click to expand...

seismic survey is by no means cheap , and for OIP to receive this with no cash cost to them , is without a doubt of tremendous benefit.
 
seasprite said:
encouraging results from ESG's Blue Hills 1 prior to reaching the targeted Bohena seam with an intersection so far of 10.9m thick coal (Hoskissons seam) with very high permeability . This well is bordering OIP permit which is due to be drilled next.

refer http://www.asx.com.au/asxpdf/20090216/pdf/31g237v495r4nl.pdf
Click to expand...

Hi Seasprite

Thanks for the update
The market however has not received the result with green sign for OIP
Could you please postulate what could be the reasons - general sentiment or more to it ?
There are few others who turned very green even market has descended down :confused:
 
G'day Miner,

Just a quick guess but the announcement is not directly tied to OIP - has not been announced by OIP so I'd say the market hasn't realised they are next to each other. I have to say I own both shares and I hadn't clicked that it was next door.

It only gives a possible good sign - it's not anything to be excited about - but certainly shows that OIP tenement has some merit.

malachii

PS PLEASE NOTE!!: I OWN A DECENT SIZE CHUNK OF THESE SHARES (OIP and ESG) - SO MY OPINION IS VERY BIASED!!!!!
 

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