Misc
12-10-2006, 07:51 PM
IPO closes 23/10 , very interesting story , see below from another site. www.ntoil.com.au Misc
Great post from SS by Kahuna1. He is probably the most highly regarded poster over there and that's not just my opinion - they actually have a rating system.
From SS posted ny Kahuna1:
Howdy,
As a poster to Internet chat sites for many years its not often and rarely I have ever spoken about a share at IPO level. This is a first.
As someone who a few follow and have followed over the years I value my reputation and integrity beyond everything else. Not one to hold back calling a spade a spade even if I actually hold the shares still and realize I have been profoundly misled I will still be honest with my views on chat sites.
Over the last few years have been shall we say a contributor to numerous oil threads from HDR to BPT to ROC and volumous posts on WPL or directions of the oil price. Not claiming to be an oil expert but what in reality I am, a trader with 23 odd years of full-time employment as a trader there are a few posters and experts opinions I respect. In the oil industry despite knowing a bit, and classing myself as a hobby expert, the one guy I respect over all others with his sage and conservative advice has been a contributor to SS called none other than "Ian Whitchurch". If you look at his rep points many months ago I rated him as the number one Oil and Gas expert on the SS boards. I don't personally know Ian, never met him or spoken to him in person or over the phone. So it was with some surprise when I looked at Northern Territory Oil's IPO prospectus I noticed who the new CEO is ... Ian Whitchurch ... Yes the same one.
Now some companies one backs their prospects and others one backs their knowledge and skills.
I have had in the past some spirited discussions about oil and prospects or lack there of companies with Ian on SS. A few things impressed me more than others. His knowledge was number one. Number two was his sage advice on various oilers. Number three was his ultra conservative style Number four was his honesty and lastly his taking the time to share his knowledge freely with SS readers.
Now on this basis alone I would buy shares in the IPO despite the fact I cannot remember the last time I did. Personally more cautious than even Ian.
After reading through the IPO prospectus I am even more impressed.
Number one is they have secured shall we say some very prospective ground in the US with oil wells surrounding the acreage for virtually zero. See the post on the thread below but $37,000- is bugger all compared to $2- million for less attractive prospects paid by other juniors.
Number two ... The drilling later this year of the prospect in the Perth basin given the proven finds in the region is what I would call interesting. Refer ROC and AWE.
Number three and the potential high risk but also massive reward if the granting of 30,000 sq. km of virtually virgin area in the Northern territory. At best the area has had a magic wand waved over it and given the stuff being found offshore NT and the fact its virgin and onshore costing 20% to drill and conduct seismic on ...
Number one and two I don't really expect to be massive company makers but number one in particular I view as low risk and likely to fund the elephant hunting of number 3.
Reading further into the IPO prospectus one thing I love above all else is what appears to be honestly and well Ian has contributed to SS for a few years so myself have some gauge as to that. But blow me down ... Nothing worse than companies full of it ... My favorites over the years and the real performers over the years have been unique with their style. COA one who I post on from time to time.. Management and why I love them is honest forthright and the goal is to build a business, COA who has been a 100% return per annum over the last few years, 400% in four years, doesn't pay their MD some stupid amount, when business is going well they spell it out and when it isn't they do the same. CEY has a similar style, board members are
Great post from SS by Kahuna1. He is probably the most highly regarded poster over there and that's not just my opinion - they actually have a rating system.
From SS posted ny Kahuna1:
Howdy,
As a poster to Internet chat sites for many years its not often and rarely I have ever spoken about a share at IPO level. This is a first.
As someone who a few follow and have followed over the years I value my reputation and integrity beyond everything else. Not one to hold back calling a spade a spade even if I actually hold the shares still and realize I have been profoundly misled I will still be honest with my views on chat sites.
Over the last few years have been shall we say a contributor to numerous oil threads from HDR to BPT to ROC and volumous posts on WPL or directions of the oil price. Not claiming to be an oil expert but what in reality I am, a trader with 23 odd years of full-time employment as a trader there are a few posters and experts opinions I respect. In the oil industry despite knowing a bit, and classing myself as a hobby expert, the one guy I respect over all others with his sage and conservative advice has been a contributor to SS called none other than "Ian Whitchurch". If you look at his rep points many months ago I rated him as the number one Oil and Gas expert on the SS boards. I don't personally know Ian, never met him or spoken to him in person or over the phone. So it was with some surprise when I looked at Northern Territory Oil's IPO prospectus I noticed who the new CEO is ... Ian Whitchurch ... Yes the same one.
Now some companies one backs their prospects and others one backs their knowledge and skills.
I have had in the past some spirited discussions about oil and prospects or lack there of companies with Ian on SS. A few things impressed me more than others. His knowledge was number one. Number two was his sage advice on various oilers. Number three was his ultra conservative style Number four was his honesty and lastly his taking the time to share his knowledge freely with SS readers.
Now on this basis alone I would buy shares in the IPO despite the fact I cannot remember the last time I did. Personally more cautious than even Ian.
After reading through the IPO prospectus I am even more impressed.
Number one is they have secured shall we say some very prospective ground in the US with oil wells surrounding the acreage for virtually zero. See the post on the thread below but $37,000- is bugger all compared to $2- million for less attractive prospects paid by other juniors.
Number two ... The drilling later this year of the prospect in the Perth basin given the proven finds in the region is what I would call interesting. Refer ROC and AWE.
Number three and the potential high risk but also massive reward if the granting of 30,000 sq. km of virtually virgin area in the Northern territory. At best the area has had a magic wand waved over it and given the stuff being found offshore NT and the fact its virgin and onshore costing 20% to drill and conduct seismic on ...
Number one and two I don't really expect to be massive company makers but number one in particular I view as low risk and likely to fund the elephant hunting of number 3.
Reading further into the IPO prospectus one thing I love above all else is what appears to be honestly and well Ian has contributed to SS for a few years so myself have some gauge as to that. But blow me down ... Nothing worse than companies full of it ... My favorites over the years and the real performers over the years have been unique with their style. COA one who I post on from time to time.. Management and why I love them is honest forthright and the goal is to build a business, COA who has been a 100% return per annum over the last few years, 400% in four years, doesn't pay their MD some stupid amount, when business is going well they spell it out and when it isn't they do the same. CEY has a similar style, board members are