SKY - Sky Metals

[Profitseeker]

PGS seems to be breaking out. Company details from Westpac below.


Planet Gas Limited (PGS) is an Australian company involved in the exploration and production of Coal Bed Methane (CBM). PGS has developments within the Powder River Basin of Wyoming, USA as well as exploration projects in Kansas (USA) and five sedimentary basins in Australia.

Powder River Basin -
The Esponda project covers 5,750 hectares of the Powder River Basin in Wyoming, USA. As at October 2004, the project included the Western Gas program of 8 wells (PGS 20-25%) and the Kennedy Oil program of 12 wells (PGS diluting to a 40-50% interest) with a total Gas-In-Place resource of 21.9 Bcf (7.3 Bcf Net). The remaining acreage is 100% PGS owned and has a development potential of over 100 wells. A 33 well program is scheduled in the adjacent Oriva Project for the first half of 2005.

Gippsland Basin
The Gippsland basin is a large offshore and on shore sedimentary basin situated in Victoria. PGS has a 100% interest in four exploration licences of the onshore region comprising 260,000 hectares. PGS plans to drill up to 18 test wells before reassessing the development potential of the licences.

Other projects
Other PGS projects in the Otway Basin of Victoria, the Eromanga and Willochra Basin of South Australia and the Gunnedah Basin of New South Wales are in early stages of exploration.

 

[Profitseeker]

Held well today considering the market went backwards today.

 

[ctp6360]

PGS is killing it today, up 8.8% and there really arn't many sellers at all!

 

[Profitseeker]

Yep. Looks like this one is going to boom. The potential is enormous.

 

[ctp6360]

GO PGS! Up 20% so far today, there are basically NO sellers!

 

[Profitseeker]

This is great.

 

[Profitseeker]

This stock seems to be ranging now. It needs some positive news to break to new highs. May be time to bail.

 

[Profitseeker]

Lift off. Short term target 50c

 

[Profitseeker]

Some thing must be going on!! Does anyone know what?

 

[Profitseeker]

Looks like the buying pressure has fizzled out. Dam

 

[Profitseeker]

Annoucement out. Looks like their project is still full steam ahead. the market just needs to pay attention now.

 

[Profitseeker]

Arhh. Finally it is moving up again. I still believe it will get to 50c soon.

 

[Profitseeker]

Sellers have dried up and buyers are in. Looking for a close above .42 and then could be set for another run.

 

[Profitseeker]

Looks like it might have astrong open this morning.

 

[Out Too Soon]

Why the slump, does anyone know what happened. I havent been watching PGS for a while & am surprised to see such a change. Is this a buying op'?
The price seems to have crashed in August but no ann.

 

[king.jackson]

Is this a sleeping giant or a dead horse?

PGS havent really had much in the way of announcements recently.

 

[Out Too Soon]

Is this a sleeping giant or a dead horse?

PGS havent really had much in the way of announcements recently.

Sleeping Giant (to be), seems they recently completed work on a well & are about to start producing from it- also someone knows something positive about it hence the recent sp rise & ASX query. Either it's time to buy in again or someone has been over optimistic, sp & volume has dropped again today, I think I'll doom it & increase my meagre holding.

 

[stumpythefish]

Anyone here still following PGS?

Seems to be recovering from its lows earlier this year and looking to keep rising given the amount of buyers stacked up compared with the sellers.

They have their AGM this week but Im wondering if its good to get in now before any good news is released then (if there is good news...)

Seems to be allot of confident buyers which indicates to me some good news is coming. (just a guess though).

 

[Jako]

Anyone here follow this stock ??

Has fallen from .15 to .07 in a relatively short time, without much news.

Just market sentiment, or is something else going on ??

cheers

 

[Cam019]

I have been watching PGS since the breakout above 1.2c but didn't buy a position as it is pretty thinly traded the majority of the time. Seems to be making its way up nicely without much of a hitch. Nothing concerning, currently. If you managed to buy in at Mondays open you would already have more than a 40% return. Not bad at all if you ask me.