OIP - Orion Petroleum

[malachii]

Sorry Seasprite - Yes I'm still here. Still have faith in OIP but am still waiting for some good announcements. Not much is going to happen until then. Picked up some more shares today, only 15000 but at 6.6 cents I couldn't go past them.

Good to see ESG run a bit today - with no announcement??!! Think it is probably linked to MPO announce but not completely sure. Can only help OIP in the long term.

malachii

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

 

[seasprite]

Sorry Seasprite - Yes I'm still here. Still have faith in OIP but am still waiting for some good announcements. Not much is going to happen until then. Picked up some more shares today, only 15000 but at 6.6 cents I couldn't go past them.

Good to see ESG run a bit today - with no announcement??!! Think it is probably linked to MPO announce but not completely sure. Can only help OIP in the long term.

malachii

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

Always a good idea to average down in my books. I posted in ESG that I was expecting a breakout in the sp , and I was looking at one with OIP on small volumes after hitting the 8c resistance level a number of times. Then whammo , the DOW drops 299 , which took OIP's sp below the line .

With CSG the flavour of the season and OIP's cash backing , it would be hard not to expect the sp to break upwards around the 10c mark.

Anyhow , moving on ,Moree looks like a decent sized mapped prospect , I hope it does achieve the same results as Edgeroi and better.

 

[Dangerous]

Sorry Seasprite - Yes I'm still here. Still have faith in OIP but am still waiting for some good announcements. Not much is going to happen until then. Picked up some more shares today, only 15000 but at 6.6 cents I couldn't go past them.

we must have bought at exactly the same time... i had been watching them and noticed the 6.6c seller and i whacked in an order for 20,000 and then all of a sudden it showed 35,000 had been sold for the day....

(quality input from Dangerous - what a story! Thanks Dangerous)

 

[seasprite]

Notice of initial substantial holder Ingalls & Snyder see http://www.asx.com.au/asxpdf/20090305/pdf/31gfml1g97fqvr.pdf

 

[malachii]

we must have bought at exactly the same time... i had been watching them and noticed the 6.6c seller and i whacked in an order for 20,000 and then all of a sudden it showed 35,000 had been sold for the day....

(quality input from Dangerous - what a story! Thanks Dangerous)

So it was you who stole my 20 000 shares (LOL) I actually put in an order for 35000 to take out the whole lot but when my purchase screen came back up it showed that I'd only bought 15000 - I was spewing. Was really spewing today when the price hit 9 cents!!

That's life!!!

Congrats for buying - don't think you'll be disappointed but we'll see in the near future. I think this company has real prospects for the reasons seasprite and I have been talking about. But as usual.....

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

malachii

 

[malachii]

Notice of initial substantial holder Ingalls & Snyder see http://www.asx.com.au/asxpdf/20090305/pdf/31gfml1g97fqvr.pdf

Not sure about this one Seasprite. If you look closely it's a correction from back in Dec 07 and the average share price is about 19.6 cents for the first purchase and 21 cents for the second. Not sure if this means anything or not????

Just out of curiosity - with a name like Seasprite - you weren't part of the navy Seasprite program were you? My boss was a part of that and he has some interesting things to say.

malachii

 

[seasprite]

Not sure about this one Seasprite. If you look closely it's a correction from back in Dec 07 and the average share price is about 19.6 cents for the first purchase and 21 cents for the second. Not sure if this means anything or not????

Just out of curiosity - with a name like Seasprite - you weren't part of the navy Seasprite program were you? My boss was a part of that and he has some interesting things to say.

malachii

unsure why they posted that today , that was way back in the IPO days when the sp issue was 20c .

part 2 - low houred commercial helicopter pilot having only flown a hughes 300 , Robinson 22 & 44 , 0.4 hrs in AS355 twin squirrel and 0.8hrs UH-1H . Once I hopefully make enough from the sharemarket I will be back in the air. Had my SH2G Seasprite hat on when I was trying to think of a Username for ASF forum .

 

[Mad Mel]

The Moree-4 CSG well spudded today... I'm really interested in seeing how that turns out, we should find out on around the 15th.

Moree-1 (I think it's called) is the one I'm really interested in, but it's not scheduled yet, and I don't think it's part of the farm-in agreement. It's supposedly near the ESG Edgeroi 1 and Blue Hills 1 wells. I have my doubts that the Bohena coal that ESG is doing so well with intersects PEL427, based on the result from the Blue Hills well. I think it might just miss the SE corner, but I'd love to be wrong (and I'm certainly no geologist). But a thick seam of highly permeable Hoskisson coal would do.

FWIW, holding and evangelizing OIP.

 

[Miner]

I am missing Seasprite and Malachi today in the ASF when both OIP and ESG shot up like any thing against the market's fall.

Brave people you are and tell us more good stories like OIP and ESG.

Yes, I was brave to put a small money on this and this is the only green in my current portfolio. Thanks a lot folks for your excellent postings.

(Rest assured I will not blame you even if my full portfolio returns to red in a few days to be consistent with the rest of the holding)

 

[Mad Mel]

Yes, thank you very much Seasprite and malachii, your excellent postings caused me to put some money on these guys as well (don't worry, I DMOR - if it goes red, it's just another one of my dumb decisions). But if it all works out, it's because your insight caused me to look closer at something I would have overlooked.

 

[malachii]

Always glad to share a find - it makes all of us look closer at our investments and why we make them. Quite often I discuss my purchases with my wife - if I cant make her understand why I'm investing in something within about 2 minutes then usually there is something wrong with my reasoning.

Good to see yesterday's rise remain today. Still think this is cheap with cash backing more than share price. Hopefully we'll see some good news coming out in the next month or so in regards to the drilling that will be going on.

Seasprite: Glad to see a fellow wing nut (even if it's a rotary wing nut!!). I'm fixed wing myself although have to admit I do like the UH-1H. Come across quite a few Vietnam Vet Pilots in my job and they all swear by the Huey. I've got about 2 hours rotary time - in a mate's Bell 47 - I can see the attraction but I think I'll stick with fixed wing.

 

[Dangerous]

Good to see yesterday's rise remain today. Still think this is cheap with cash backing more than share price. Hopefully we'll see some good news coming out in the next month or so in regards to the drilling that will be going on.

that's why i bought it.... seemed way too good to be true so only bought a very small holding, plus there weren't many sellers way back on Wed.

See the option OIPO is trading for over a cent and exercise ain't til 30c.

The mkt had VPE option priced in at 20c exercise, so i assumed so but a closer look at the annual report showed exercise of 25c....

 

[seasprite]

I am missing Seasprite and Malachi today in the ASF when both OIP and ESG shot up like any thing against the market's fall.

Hi miner , I have family visiting , so I have put the share market on the back burner for the last few days and the rest of this week . You might see the odd post .

Good to hear you are in the green. As far as I'm concerned , I think OIP is on prime land and by the sounds of it PEL 6 has significant upside.

 

[malachii]

Nice jump this morning - market is seeing something in OIP - probably both the drill prospects of ESG and the upcoming drilling program that started on the weekend.

Dangerous - Are you sure you wont let me have those other 20 000 shares I wanted at 6.6 cents (LOL)!!!!

malachii

 

[Miner]

Hi miner , I have family visiting , so I have put the share market on the back burner for the last few days and the rest of this week . You might see the odd post .

Good to hear you are in the green. As far as I'm concerned , I think OIP is on prime land and by the sounds of it PEL 6 has significant upside.

Mamma Mia Seasprite

Better look after family as the OIP has shot by 40% today so far on OIP itself . We should have a thin corrogated roof for OIP now so that when it hits the roof no one gets injured.

I wished to have captured good sample to make the other red even . But I am not greedy and happy whatever is happening with OIP.

Thanks folks

 

[Dangerous]

Nice jump this morning - market is seeing something in OIP - probably both the drill prospects of ESG and the upcoming drilling program that started on the weekend.

Dangerous - Are you sure you wont let me have those other 20 000 shares I wanted at 6.6 cents (LOL)!!!!

malachii

i do believe Mr Malachii it is you who owes me 15000!....

Another i found over the weekend and purchased today is HGO. Their holdings in ESG alone are worth twice their mkt cap....

 

[seasprite]

From ESG bimonthly drilling report - moree 4 at 387m and coring ahead see http://www.asx.com.au/asxpdf/20090316/pdf/31glycbd9bn4nx.pdf

 

[malachii]

Good to see OIP has been able to stay above 12.5 cents the last couple of weeks and today broke through and closed above 15 cents. Will be interesting to see if it can maintain this - I suspect it will because from reading today's announcement I think they will report on the latest drilling next week. This should give us a good indication of if this field has potential or not. If the result is negative I can see it falling back through 10 cents and maybe back down into the 6-7 cent range. If the news is positive and breaks through 16-16.5 cents (which I think it would - but do your own research) then we hit blue sky territory. There may also be some resistance at 20 cents which was the float price so a few may take the opportunity to get out at cost.

Anyway - we shall see very soon I guess.

malachii

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

 

[Miner]

Good to see OIP has been able to stay above 12.5 cents the last couple of weeks and today broke through and closed above 15 cents. Will be interesting to see if it can maintain this - I suspect it will because from reading today's announcement I think they will report on the latest drilling next week. This should give us a good indication of if this field has potential or not. If the result is negative I can see it falling back through 10 cents and maybe back down into the 6-7 cent range. If the news is positive and breaks through 16-16.5 cents (which I think it would - but do your own research) then we hit blue sky territory. There may also be some resistance at 20 cents which was the float price so a few may take the opportunity to get out at cost.

Anyway - we shall see very soon I guess.

malachii

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

Malachi

Last time Seaspirite went to look after family for a week, OIP shot 40%.
Should we request him to take two weeks time so that the OIP shoots by 80% . May be that is the resistance level not to go up further

I do hold a smaller parcel of OIP

 

[Mad Mel]

Will be interesting to see if it can maintain this - I suspect it will because from reading today's announcement I think they will report on the latest drilling next week.

ESG is doing the drilling and they report on it bimonthly, so we should definitely see a report next week, since they included it a week ago. From their past announcements, it looks like they report as close to the 1st and 15th as business days allow.