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PCL - Pancontinental Energy

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Breakout!

Tomorrow the day of the siesmic announcment? Has been due any day now. There was a big flurry of buying in the last hour today. Someone wanted in & wanted it NOW...

Watch this one tomorrow...
 
You have to watch the volumes on a breakout. A small amount of shares can move this one but watch out for the players and if there is any follow through.
We hope that it will come soon. In the mean time, buy on the lows and be carefull how many you sell on the highs. Don't get caught short when it does run. I love these penny stocks and yes I'm in for the long term as well.

 
What a difference a month makes - 4.2 now , has been up to 4.7 and still no news on the 3D. Hold in there , good things come to those who wait.
 
Getting worried now , already in June and still no word on the 3D results , could we see this stock slide back down to the 3 cent range ? Today holding at 4.2 but very low volumes of late.Has been as low as 4 cents in the past few days.I'm still holding in but don't know for how much longer
 
I think awaited 3d results carry more downside risk than up. Market already likes these elephant sized targets with active oil slicks. Bu if 3d results at all unclear can see disappontment and possible selloff. The most we can expect from 3d is to confirm current perceptions so I can't see much upside there. PCL has huge upside though prespud and after PCL share of drill costs in place. (free carry was only on 3d ). Watching PCL closely but see no hurry here.
 
Please see attached the news of Force Majeure from PCL.
While investors are keenly waiting to see the 3 D result I think this force majeure will pour cold water on the burning fire.

I hate to see market reaction on Monday . Thankfully it is not heavily traded share and I do not hold it.

Please DYOR and take your own decision to buy, hold or sell
 

Attachments

  • PCL AND KENYA PERMIT.pdf
    21.4 KB · Views: 18
The news did come out from Flow Energy during the last trading day without much reaction to PanCon shares. if the PanCon share price does drop a bit over the next few trading days , it may be a good chance to pick up a few more. I still like the potential of the Origin/PanCon block next to the Flow Energy/PanCon one. I don't know if they will ever have the money to develop it , but they can still make a mint by farming it out to one of the big players. We are talking long term here , it is not going to happen Monday , or a month of Mondays from now , but it looks good enough to me. I will hang in for a bit longer. Would love to see those 3D results though. - Good Luck to all.:dunno:
 

good point small timer

My perspective is from short to medium term perspective. I was not at all looking for long term (again every one's span of horizon for short, medium and long is different) so there is no issue.

However Force Majeure clause is always dangerous sign.

It allows an opportunity to hatch all the inefficiencies and delays under that situation and history suggests the outcome is often not a win win situation.

Probably Monday will give us the opportunity to buy some good amount for PCL. However I always wait to see the length of the string for Force Majeure clause's effetiveness. Definitely Monday rise or fall will not be my decision making day until the full picture of the effect of Kenya is known.

I am sure each one of us has definite strategy to deal this situation matching with own circumstances. So good luck all current and prospective holders.
 
Under pressure today. The stock has dropped down under the 4 cent level again. With no recent news from the company about Kenya , looks like that people are getting a bit worried. Lots of sellers and very thin on the buy side at the moment. At this time $0:039. Good luck all....
 
Well finally got some news from the Company , all be it with the Quarterly Cash Flow report and the Quarterly Activities Report , but still no action.

Stock started to look good in the morning with early trade jumping up to 0.04
cents and some volume (1,249,412 ) but then died. I guess the 1,000,000 share sell order that came in didn't build much confidence.

Just have to sit back and wait. If it drops further, buy some more.
 
Looks like that there is some movement in the camp.
It has been a long time between drinks but things are starting to look up.

Stock up 13.158 % today at 0.043 and hopefully more to come.

Is there a Farm-Out, in the wind for Kenya ?
Or perhaps we will get some news on Stokes Bay within the week,
In any case, good to see some movements and higher volumes.

In for the long haul.

 
Extract from EGO's ASX Release:

TESTING OF STOKES BAY-1 RETENTION LEASE R1, CANNING BASIN, WESTERN AUSTRALIA COMMENCED TODAY FRIDAY 12 NOVEMBER 2010

Buru Energy Limited, the Operator of the Stokes Bay-1 Testing Programme within Retention Lease R1, has advised that the BJ Services Coiled Tubing Unit and the Nitrogen Unit was released on 9 November 2010 from the Yulleroo-2 Programme. Site and road works at Stokes Bay-1 have been completed. Mobilisation of the Coiled Tubing Unit, the Nitrogen package and other equipment was mobilised and is now successfully rigged up on the Stokes Bay-1 wellsite.

The Stokes Bay-1 well Testing Programme consists of using a coiled tubing unit and a nitrogen lifting technique. This Testing Programme commenced today 12 November 2010. The pressure data obtained during the original drilling of the Stokes Bay-1 well and subsequently during various testing operations conducted by the joint venture can be interpreted in a number of ways, one of which is that the Nullara reservoir contains a gas column updip from the well with the potential for a substantial oil column underlying the gas column in the section intersected in the well.

For full report see ASX announcements.
 
After the Stokes Bay no show , looks like that the 4 cent barrier is becoming a hard nut to crack , although the trend still looks up. Need some good news soon. Anyone else out there still looking at this stock ?

 
It has taken a while, but stock up now 60% in the past two weeks. Took some profit but now free carry, love it.
 
Very good run in the past week. I took some profit at 9.6 cents but will buy more if it get under 8 cents again. This is going to be a big one. Drilling in Kenya to be announced soon, then watch out.
 
Looks like PCL is running hot on the heels of more oil & gas discoveries in Tanzania by BG & its JV partners,
had successful explorations in all four wells.......

Tullow Oil rose to the top of the index and moved 6.6% ahead as it announced it has made Kenya’s first oil discovery.

Tanzania next to Kenya, PCL & JV partners, drilling sometime later this year.

http://www.asx.com.au/asxpdf/20120320/pdf/425472bwwkdk8s.pdf

http://www.marketwatch.com/story/bg...all-gains-2012-03-26?link=MW_home_latest_news
 
East Africa the next big thing for oil & gas.

Another discovery:

Anadarko Petroleum Corp. (APC) and Cove Energy Plc (COV) will turn their attention to the northern waters of Mozambique after finding as much as 30 trillion cubic feet of gas off the coast of the East African nation to date.

Looks like the Irish are getting into oil & gas after all these years of farming (hint hint ....choose between the sand or the green fields......) Only joking , no harm intended.

http://www.pancon.com.au/investor-centre/broker-reports/reports/260312.pdf
Analyst report by Irish broker

Please DYOR.
 
Just got my Share Purchase Plan Offer in the mail. Max offer @ 17.5 cents A$15,000 for 85,714 shares.

As stated before,already topped up with 97K shares on Friday for 17 cents.

It is a pitty that the only time we are permitted to join in an offer, the share price takes a dive. Now sitting at 16.5 cents, could we see it lower ? US market diving on Friday night.

Don't get me wrong, I'm a long term holder (since 3.9 cent days) and will continue to do so even if we see it go lower. It is what it is.

Easy to say when your free carry, but this one will boom again once the sellers dry up. Hold in there guys. Can't believe people are selling so close to spud.

SPPO Paperwork in the bin for now.
 
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