NGE, New Guinea Energy

[Crypto Crude]

I have recently spotted this company,
I think Huang Chung said it somewhere... and then I looked at the stock over the weekend...
the stock price is currently trading at 23.5c and I think this is a GREAT COMPANY WITH 6 ONSHORE PERMITS IN PAUPA NEW GUINEA... and then there is the Farm-in agreement with Talisman, this is a major player...
PNG is going be be a very Big Future Exporter
This is the newest and quite probably the only opportunity to be positioned in the region as current oilers like CUE have preemptive rights on anything that comes up because we already have our foot in the door...
Think about this and PNG LNG
See what happens this week and look to BUY...
SP down 16% on friday...
23.5c...
im in CUE thinking about a low ball bid, see if the sp pulls back some

.^sc

[Crypto Crude]

pity its taken this long for it to pop up on my radar...
there will be many opportunities like this over the coming years in CSG, but not like this in PNG...
wow I like this...

.^sc

[trackers]

http://www.smh.com.au/business/local...0920-fwtu.html

Locals get a lift in PNG gas project



CANADA'S Talisman Energy has quietly been roaming the jungles of Papua New Guina assembling a package of exploration acreage to underpin its early-stage planning to build what could be a third liquefied natural gas export project for PNG after ExxonMobil and InterOil build their nation-changing projects.
Good luck to them, too. Garimpeiro's interest is in the two ASX-listed companies that have been cut in by Talisman on its LNG ambitions, New Guinea Energy and Horizon Oil.

Shrewdy I wonder why they dipped... Coming out of the trading halt, shareholders not seeing the farm-in as on favorable enough terms perhaps?

[JMJ1202]

Hi Shrewd, Not sure your going to get that dip you're looking for, this is a pretty positive review for NGE.

Locals get a lift in PNG gas project September 21, 2009 .

CANADA'S Talisman Energy has quietly been roaming the jungles of Papua New Guina assembling a package of exploration acreage to underpin its early-stage planning to build what could be a third liquefied natural gas export project for PNG after ExxonMobil and InterOil build their nation-changing projects.

Good luck to them, too. Garimpeiro's interest is in the two ASX-listed companies that have been cut in by Talisman on its LNG ambitions, New Guinea Energy and Horizon Oil.

Both have signed big spending farm-in agreements in which the Canadians will pick up the running to find about 5 trillion cubic feet of gas in support of a potential LNG project producing 2 million to 3 million tonnes annually.

In the case of New Guinea Energy, Talisman could spend $US105 million ($121 million) to earn a 70 per cent interest in two of its prospective PNG exploration permits.

For a company that closed at 23.5c a share on Friday, for a market capitalisation of $92 million, it is a nice position to be in, particularly as Talisman is known as a company that does not mess around.

Same goes for Horizon, although its leverage to the PNG LNG upside is not as great given it is already a $350 million company thanks to its oil production interests in New Zealand. Still, its $US60 million deal with Talisman on the part sale of two of its PNG exploration licences was enough to push its shares 3c, or 10.7 per cent, higher on Friday to 31c.

[whatsup]

Re NGE have a look at the chatter on H C at present, interesting comments.

[Huang Chung]

I have recently spotted this company,
I think Huang Chung said it somewhere... and then I looked at the stock over the weekend...
the stock price is currently trading at 23.5c and I think this is a GREAT COMPANY WITH 6 ONSHORE PERMITS IN PAUPA NEW GUINEA... and then there is the Farm-in agreement with Talisman, this is a major player...
PNG is going be be a very Big Future Exporter
This is the newest and quite probably the only opportunity to be positioned in the region as current oilers like CUE have preemptive rights on anything that comes up because we already have our foot in the door...
Think about this and PNG LNG
See what happens this week and look to BUY...
SP down 16% on friday...
23.5c...
im in CUE thinking about a low ball bid, see if the sp pulls back some

.^sc

It was mentioned to me that they are likely to have more gas than Oil Search......

Still, talks cheap.

Shrewdy...they don't seem to have a very intensive drilling program going forward....maybe the news flow might be a little slow to keep the market interested??

[trackers]

I'm in @ 0.205

[Huang Chung]

Was thinking about a trade myself trackers.

Umm'd and ahhh'd all arvo....not an overly productive day at work .

Monax also was getting my attention, but in the end, I kept my wallet shut.

[trackers]

Fair enough Huang, was a bit of a tough call, but I think a good medium term position.

Talisman, if they end up spending $75mil, will blow 3/4 of the new exploration budget they have planned for this region this financial year...in 2 of NGE's permits. The announcement suggests that seismics are being fast-tracked and I hope this is the case

Drilling (100% owned 267 permit)set to start before end of Dec, in the permit where 5bbls/day oil + gas are leaking from the ground...exciting.

And as mentioned on HC.. "JV is now secure as is the additional cash for NGE to fund the drill of our seepage permit. That gives us one dill completed by NGE (100%), 2 committed drills by Tailsman and a further 4 drills at the option of NGE (or Tailsman if they are in a rush and would like to pay a higher % of the cost). Technical support will be provided by Tailsman on all permits...." Talisman are to pay up to $120mil for these permits on the back of a $85mil market cap

[drillfix]

Nice day or opportunity for those who have wanted below 20c entry.

Just a watcher of this one but interesting story.