Australian (ASX) Stock Market Forum

PES - Pure Energy Resources

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Still a lot of volume coming through. I'm thinking another change in substancial holding, or new holder soon..... If I was Arrow, I would be increasing my holding (as others up their holdings) before a reserve statement later this year.

The options have been trading often at a discount to the heads, as has been the case most days.
 
Thought this one would retrace a bit, but it's holding up fairly well. Here is today's presentation which has a target of 1000pj on just one field. I'd be happy with that proven up!

1000pj should give a market cap of $1billion given that recent takeover activity values are at $1million per pj, although sales revenue in Asia are in the vicinity of $11million per pj (less costs of course).

http://aspect.comsec.com.au/asxdata/20080526/pdf/00845192.pdf
 
And that is on just 5% of their landholding with a lot more drilling to go yet. Every prospect a company maker to use their words from the presentation.

That plus they have virually the whole of Tasmania's CSG fields under license with Tasmania now on the National Electricity market they would need a lot of bad luck to not make a success of Tasmania in its own right.
 
A lot of CSG plays cannot claim to have potential to 975 PJ of 3p in their entire portfolio.

PES look like doing this on just one of their tenements based on their announcment today. They still haven't looked at more than 5% of their landholding yet.

PES will look pretty cheap once they get cracking on proving up 3p/2p resources.

Consolidation in this sector is a certainty to continue.
 
grace said:
Thought this one would retrace a bit, but it's holding up fairly well. Here is today's presentation which has a target of 1000pj on just one field. I'd be happy with that proven up!

1000pj should give a market cap of $1billion given that recent takeover activity values are at $1million per pj, although sales revenue in Asia are in the vicinity of $11million per pj (less costs of course).

http://aspect.comsec.com.au/asxdata/20080526/pdf/00845192.pdf
Click to expand...

More good news from the last drill. Contingent resources of 975PJ on ATP852. Prove that up, and just on that small area alone, we have a market cap of $1billion expected.

83mill shares
x $1.45 = $120 million

Interesting future ahead.

http://imagesignal.comsec.com.au/asxdata/20080528/pdf/00846082.pdf
 
TheAbyss said:
A lot of CSG plays cannot claim to have potential to 975 PJ of 3p in their entire portfolio.

PES look like doing this on just one of their tenements based on their announcment today. They still haven't looked at more than 5% of their landholding yet.

PES will look pretty cheap once they get cracking on proving up 3p/2p resources.

Consolidation in this sector is a certainty to continue.
Click to expand...

Sorry Abyss, I must have been typing while you were posting. Indeed, a little sleeping giant here IMO. News should be enough to keep you at the top of the ladder this month I'd say. Hope they get right into that first reserve certification, then this little one might become all that much bigger. Perhaps she'll be supplying NSW with power one day hey? Exporting to Asia would be the more lucrative option though.....
 
Nice to see that we agree on what the future of PES holds Grace. Interesting trading pattern eventuating at the moment. Somoene decided they just wanted back in. Sellers have thinned right out again.
 
I'll bite Livetoexcess, you are either fising or seeking some confirmation on what you believe.

Take a look at the attached article in The Australian.

Thise with reserves will get bought quickly and those with prospects will get sequity partners or bought out.

PES are looking at going further today if you can believe buy sell depth. I just wish that this all happened a bit further down the track after PES had proven more resources.



http://www.theaustralian.news.com.au/story/0,25197,23785524-5012439,00.html
 
On the back of the Shell/Arrow deal, and Arrow's involvement in PES (both as a substancial holder and farm-ins), I doubled my holdings in PES shortly after open this morning. These are long term holdings.

Would have been a bit cheaper a few weeks ago, but at the moment, we are in the great land grab for coal seam gas acreage, and PES is prime for picking.

I still suspect that PES will merge with Arrow. I also hope it doesn't happen for a long time, but suspect it will be sooner rather than later.

I must admit, I would have loved to have seen Woodside get involved in CSG on this side of the country, instead of all of this foreign money coming in. Just more Australian shareholders in Woodside than Shell I suspect (although Shell own 34% in Woodside anyway, so it's all becoming so foreign anyway!).

Would actually be good for PES to do a bit of consolidation at these levels!
 
I have been a fan of PES for quite some time
Have been in and out of PES countless times :cautious:
I thought i did well taking the money and running at 1.80 :D

Just a note :
Be carefull as this stocks turnover
can dry up in an instant once the hype dies down

Good luck though

GO GAS GO !
 
pes has seemed to have had its run for the moment - will most probably drop back a bit as profit taking commences, before next possible nice run in a couple of months once resources are proven - i'll might roll over into oxr
 
Pure holding up nicely today, and time for some well earned consolidation.

$2.12 seems to be holding as resistance at present.

I'm wondering when Arrow might make a move on this one, seeing as QGC seem to be on the prowl. Arrow hold a blocking stake in Pure for new readers. I'm hoping Pure get to drill up quite a bit, including Tassie before it all happens.
 

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No announcements on tassie since last year if i'm not mistaken... dunno why. An update on progress there would be good.
 
Well, our big buyer is back. Is it Mathews, or someone else? Mathews is very close to 20% already, so it could be someone else. Volume over 500 000 already today.
 
Announcement just out - contingent resources of 2000 PJ. Excellent news. Worth a read. Nice thick coal intersections of 30metres, good permeability, free flow etc etc.

The Company estimates the 2C Contingent Resource in the above permits, which constitute approximately 5% of its total Queensland acreage, to be in excess of 2000 PJ.

Pure Energy is now in an exciting phase of its development as it moves towards reserve certification, and subsequent transition as a coal seam gas producer.
Click to expand...

Nice to see Tassie mentioned too!

http://aspect.comsec.com.au/asxdata/20080625/pdf/00854152.pdf
 
Yep - Nice move up yesterday... and now announcements of $15M cap raising to fund reserves certification plans. (Issue of almost 9Mill shares @ $1.70)
Followed by announcement of >30m of walloon coals in holes Cameron 4 & 5.

All looking up from here for PES I think.

Interesting to note how the SP fell from around $2.60 right back down to very near what would turn out to be the negotiated issue price. ($1.70). Seems some folk maybe knew what was being planned... same thing happened to LNC quite suddenly before the recent cap raising.

Is it legal/ethical trading??? >>> dunno., but certainly something to keep in mind when unexplained significant sp changes happen.
 

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