PRE - Pacrim Energy

[roland]

Pacrim doing well today up 10% on no news. Now would be a good time to release something to the market. I went through some of their earlier announcements, but couldn't really get a feel for timing of the next release. Anyone else have more forward thinking on Pacrim?

 

[roland]

wow, pre-open close depth on Pacrim is scary - almost 3 times as many buyers. Something is obviously in the wind ... and it cannot all be about the gold price, since they don't have any gold yet

 

[mick2006]

Looks like the gold bug has well and truely set in, some massive buying going on in PRE in the last hour, with results from Redcliffe due any day will be interesting to watch what happens next.

 

[Peakey]

Chart is looking interesting. First chart shows breakout through previous highs of NOV/DEC 2007 of .062. MACD has crossed over now. Volume is above average.

Second chart shows previous highs during 2005 around these same price levels, so potentially we might encounter a bit of resistance through to .007.

Cheers
Peakey

 

[roland]

The volume differences between this high and the previous high is dramataically different. Does this have a bearing on the effect of this current rise?

 

[Peakey]

Hi Roland,

Yes you're right, volume levels are higher this time around. The resistance is from 2 years ago, so it is 'less' significant, plus it also traded in the .05-.07 price range for a considerable time (March 2005 - November 2005). It also might explain why the share price has been in this trading range for the past 2 months, those that bought in back in 2005 (at around the .05-.07 price levels and have held up until 2007, at a loss), have been waiting for prices to return and might have sold during the last few weeks. So who knows how much more resistance will get as we 'hopefully' head higher.

Just wanted to highlight the fact that we still might have a little bit of work to do at these price levels, I'm hoping the bulk of the work has been done.

Fingers crossed for another strong day tomorrow.

Cheers
Peakey

 

[roland]

Hi Roland,

Yes you're right, volume levels are higher this time around. The resistance is from 2 years ago, so it is 'less' significant, plus it also traded in the .05-.07 price range for a considerable time (March 2005 - November 2005). It also might explain why the share price has been in this trading range for the past 2 months, those that bought in back in 2005 (at around the .05-.07 price levels and have held up until 2007, at a loss), have been waiting for prices to return and might have sold during the last few weeks. So who knows how much more resistance will get as we 'hopefully' head higher.

Just wanted to highlight the fact that we still might have a little bit of work to do at these price levels, I'm hoping the bulk of the work has been done.

Fingers crossed for another strong day tomorrow.

Cheers
Peakey

This could be a nice little light shining at the end of my gloomy tunnel - I'm holding 100,000 - all in profit, doesn't sound like much until you work out how much each cent rise is worth

 

[Black Range]

To All PRE Holders what a great Days trading yet again with strong Open Buying support, then a mid afternoon standoff, right up to Todays Massive close, to conclude the Days gain of 16.36%, add that to yesterdays 10% and we have a nice 36%+ Trade for those who got in at .05. One would expect another Golden Terrace Drilling Ann. V/soon. Managed to pick up Tuesday at .050

Here's the Closing Stats. From Yesterday Trading Thurs. 10th January 2008.

Final 10 Transactions On Thursdays Close.

16:11:16...0.064..17,234....$1,102.98
16:11:16...0.064..200,000..$12,800.00
16:11:16...0.064..250,000..$16,000.00
16:11:16...0.064..500,000..$32,000.00
16:11:16...0.064..200,000..$12,800.00
16:11:16...0.064..200,000..$12,800.00
16:11:16...0.064..500,000..$32,000.00
16:11:16...0.064..50,000....$3,200.00
16:11:16...0.064..82,766....$5,297.02
16:11:16...0.064..17,234....$1,102.98


Thursdays Trading
Open .055
High .064
Low .053
Close .064 ********* Strong Close. UP 16.36%

With 428 Trades at 60,315,585 Days Volume.
Current Buy/Sell Depths at Close.
Buys 31,545,218
Sells 7,661,962

As Indicated " Breakout " Did occur & will be Interesting to see just how much further PRE has to run.
Highest Volume traded price Today, was 8,842,753 shares at .06 So should see some support at around .06 on the way down, lets hope in a weeks time


Cheers to All PRE Holders.
.
. All above Data taken from with Permission from Turbotrader

.
.

 

[CATAPILLAR]

Pacrim doing well today up 10% on no news. Now would be a good time to release something to the market. I went through some of their earlier announcements, but couldn't really get a feel for timing of the next release. Anyone else have more forward thinking on Pacrim?

Found this commentary from Rodney Foster about the share price query on 10th Jan 08. Drilling programs are to continue at the Redcliffe Gold Project with findings to be reported following assessment and evaluation of results. Due to Pacrim's operational focus on the Redcliffe Gold Project the company has embarked on a programme to rationalise, or farm out assets that are considered non-core. This has included the farming out of management of the Kimberly gold projects to the recently listed Metminco Ltd. As previously reported Pacrim is finalising terms for the sale of non-USA oil and gas assets including the companies interests in PNG, Aust. and New Zealand.
In respect of the Company's on going free carried 12.5% interest in the North Sacramento Basin Oil and Gas project. The operator of the project (NEG) has advised that it is continueing to drill a well at the Behemoth prospect to target depth following an interruption to the programme as a result of engineering difficulties. Pacrim holds a 12.5% free carried interest to development in the respect of the well.

CATAPILLAR

 

[roland]

Thanks for that CATAPILLAR, I did see the speeding ticket response, it dampened the interest a little, and today was nothing to write home about with general market performance.

Just wait until they report something good - this stock will go off. I've read that they think they could be sitting on a "Lihir" type resource in their New Guinea island interest. Now that would be something to write home about

 

[p1nagy]

I noticed this morning that Pacrim announced they are issuing 19,250,000 shares at 2 cents each. Who is getting these shares? is this going to dilute the share price? I have seen this happen before with both LKO and VPE in the past year. They gave the option for shareholders to purchase shares around 20% below market value. So of course the shareholders who opted to buy these shares cashed out straight away for immediate profit and thus put selling pressure on the stock and reduced the price by 20%. Will this happen to PRE?

 

[CATAPILLAR]

I noticed this morning that Pacrim announced they are issuing 19,250,000 shares at 2 cents each. Who is getting these shares? is this going to dilute the share price? I have seen this happen before with both LKO and VPE in the past year. They gave the option for shareholders to purchase shares around 20% below market value. So of course the shareholders who opted to buy these shares cashed out straight away for immediate profit and thus put selling pressure on the stock and reduced the price by 20%. Will this happen to PRE?

I saw this Appendix 3B too
I noticed they are Ordinary Fully Paid securities but they have an exercise price of .02per share I thought it was only options that got exercised.
It also says do the "securities rank equally in all respects from the date of allotment with an existing +class of quoted+securities? - then it say's Shares rank parri passu with other fully paid shares on issue. WTF
It also goes on to say 10,000,000 Partly Paid
15,750,000 Sept 2008 Options
9,000,000 Performance options


CATAPILLAR

 

[shares]

The share price of PRE has been going sideways for the past 10 days after it got issued a speeding ticket.

Today it was hit hard ... because of general market sentiment?
PRE closed at 0.044 today, lost almost 16%
The last time PRE finished the day under 0.045 was late-ish last year, mid Nov.

Just wait until they report something good - this stock will go off. I've read that they think they could be sitting on a "Lihir" type resource in their New Guinea island interest. Now that would be something to write home about

This certainly will lift the share price back up :

 

[scuffler]

Hi guys.

I am still holding these.Think the bottom was 3/3.1 and it looks to have turned the corner.
Needs to break 3.5/7 for a continued effort into the 4's.

I would think some more results are due soon which should go well if they ae anything like the results before.
These results before are some of the best grades in Aus.

So be on your guard with this one.

PLus with Gold going nuts and heading towards $1000 in March what timing!!
cheers.

 

[scuffler]

one day.......one day good spec gold stocks will buck the overall trend and break away on there own.

I just hope i can stay calm until this day arrives...arrive it will!

Maybe investors/funds are waiting for the magic $1000 to be broken and then we may start to see some long awaited fireworks.
This could work in PRE's favour as announcement is due this month

 

[nioka]

one day.......one day good spec gold stocks will buck the overall trend and break away on there own.

I just hope i can stay calm until this day arrives...arrive it will!

Maybe investors/funds are waiting for the magic $1000 to be broken and then we may start to see some long awaited fireworks.
This could work in PRE's favour as announcement is due this month

The price of gold has very little to do with the price of PRE. All PRE needs to do is prove up its reserves then either sell out or start production. How long is it since the last report? Was there any better news than before. I hold in a very small way. Bought 50,000 initially and traded them up to 100,000 now at no cost. They are an interesting challenge for me and as much fun as assembling a jig saw puzzle as a hobby. All these penny stocks have the potential to make a bundle or lose you the lot. In my opinion PRE has possibilities but it is still a spec stock after all.

 

[scuffler]

ok lets try again.

PRE's strike length is bigger than NAV's which is next door. FACT.

PRE's results are some of the best around. FACT.

PRE are in the process of estimating a resource. FACT.

I do hold. FACT.

I am looking for a rise in share price soon with the above being mentioned.

cheers.

 

[nioka]

Something going on here. No announcement but over 20,000,000 shares traded and price up over25% at one stage today????? Reeks of insider trading.

 

[mick2006]

Looks like PRE is another stock mover higher on anticipation of a major gas discovery. PRE is currently in a JV in the US where they are currently testing a well that has discovered 6 zones of gas to see whether it is a commercially viable well.

What is very interesting is that the pre drill estimate was for 1 trillion cubic feet of gas which is massive and at current US gas prices PRE's 12.5% share would be worth over $1.50 per share.

For anyone who doesn't mind a bit of risk for what is potentially a massive gain have a look at PRE and decide whats the chance of at least one of the 6gas zones being commercially viable.

 

[mick2006]

I must say there was some very interesting trading going on in PRE today, with a massive surge in volume taking the shareprice from 3.0-3.7c in very quick time.

One would guess it has something to do with the impending Behemoth Gas Prospect results from California.

PRE has already stated that the well has intersected 6 seperate gas bearing zones, and their JV partner in the US is currently testing to determine if any of the zones are commercial in size. Remember Behemoth has a pre-drill target of 1 trillion cubic feet of gas.

Given the risk/reward equation, PRE is already undervalued based on their current gold assets, so there is very little if any premium in the shareprice in terms a gas discovery, we may well see a bit more speculation in the coming days given the massive upside if the Behemoth well proves to be commercially viable. As others have previously discussed PRE's stake would be worth in the region of $1.50 per share.

I was happy to buy into PRE today on the pullback to 3.3c, and will be looking add to the position in the coming days, as the reward firmly outweighs the risks at this time.