VPE, Victoria Petroleum (Now SXY: Senex Energy)

[Toulouse - Luzern]

The SXY announcement "Fracture stimulation program successfully completed at Sasanof-1 unconventional gas exploration well" is now posted.

Pre market indicates 93.0 open at present.

Reference:
http://www.directbroking.co.nz/directtrade/dynamic/announcement.aspx?id=3089701

[bermuda]

The Sasonof-1 fraccing went really really well. I will await the gas flow tests with interest.

[STRAT]

Hi Paddie.
Should be a sunny day today.


.:ohmy:
So much for that.:crying:

[Jay]

I am back in at around 84c Strat

A bit of weakness so far today after being up - is it just the "profit takers" as the media likes to call it :confused:

[STRAT]

I am back in at around 84c Strat

A bit of weakness so far today after being up - is it just the "profit takers" as the media likes to call it :confused:
Hi Jay
That may prove to be very nice timing provided Spainish and French ( very exposed to Greece ) banks dont emplode.

Me too.

[The Big Ease]

Spanish yields went up. BAD sign, but they are volatile.
There is more to come until after the Greek elections.

[Toulouse - Luzern]

Yesterday was not a day for the optimists.

We didn't get a third white soldier candle.
We did get an inside candle.
SXY down 4% on 2.4m volume.
ASX down .8%
ASX Energy down .5%.

Europe is down last night and so is the US open today.

Market Update
Source: US market overview today - edited clips from Yahoo:
http://finance.yahoo.com/marketupdate/overview?u

11:00 am : Widespread weakness has left the stock market to surrender all of its prior session gain and then some. The action has the Volatility Index, ..., up more than 10% to trade comfortably above 23.

10:30 am : Efforts to reduce risk have implicated commodities. A rise by the dollar in response to the euro's retreat has only exacerbated selling pressure, such that crude oil prices have dropped to $88.35 per barrel for a 2.7% loss. New lows for 2012 were set just below $88.20 per barrel not long ago. Natural gas prices, now down 2.3% to $2.43 per MMBtu.

Precious metals are also under pressure.

Cheers

[Rabbi]

West Texas Oil was down about $3.00 at $87 half way through the session last night, so I expect we will get further downside today.

On a positive note, if you have some spare cash on the side, there could be opportunities to top up at a significant discount.

[OutToLunch]

... and on another positive note, Snatcher 4 has just delivered the goods. Onwards to Snatcher 5... :)

[airedale]

Hi OTL, todays ann is positive for the head shares, but I wonder if it the death knell for my few options.

[bermuda]

Hi OTL, todays ann is positive for the head shares, but I wonder if it the death knell for my few options.
Hi Airedale,
SXY held up well after further success at Snatcher. Were you refering to NWEO options? SXY has some but they are unlisted.

[OutToLunch]

Hi OTL, todays ann is positive for the head shares, but I wonder if it the death knell for my few options.

Sorry airedale, like bermuda I don't know of any listed options for SXY....? The last I remember were VPEO (when SXY were still Victoria Petroleum) but those are long gone.

[upside_umop]

I think airedale is talking in respect of the NWEO (as super B said) and the announcement stating that the frac gear won't be arriving until the end of June.
It sure showed on the oppies today....

[airedale]

Sorry guys, my mind wasn't on the job, so I posted on the wrong thread.

[STRAT]

Hey Jay.
Been so busy. Havent had time to fart but our re-entry still looks OK.
Uptrend is decelerating but still in tact. Just gotta get past the 93c mark.

[Jay]

Thanks for the update Strat and yes down a little as I write
Yes need to give it a little push
Well obvisiously you will be saying what recesion/Q3/Q4...Q6 etc seems as you are so busy :)

[OutToLunch]

Are we in a trading halt? All I can see is 'Notice Received'...

[NOCASH]

Are we in a trading halt? All I can see is 'Notice Received'...


Trading Halt. Some major news is due to be release to the market shortly. Good Luck all SXY holders!

[OutToLunch]

Trading Halt. Some major news is due to be release to the market shortly. Good Luck all SXY holders!

No trading halt. But another tasty announcement all the same. I'm picking there will be a trading halt eventually. :)

[Rabbi]

No trading halt. But another tasty announcement all the same. I'm picking there will be a trading halt eventually. :)

Tremendous announcement!:t_up:

Shame they will fall short of their forecast net BOE target of 700,000 barrels.
Now Davies is forecasting one million barrels, net to Senex for the upcoming financial year. Anyone care to give a ballpark figure as to what this might come to in revenue, as I am not sure what their production costs per BOE will be. Onshore wells and with their high quality crude now going to be piped the numbers are sure to be impressive.

[airedale]

Hi OTL, you got your trading halt. Was it what you were expecting. Overall it looks like short term pain for the SP but long term gain. I will probably take up my entitlement. Anyone else have thoughts?

[OutToLunch]

Hi OTL, you got your trading halt. Was it what you were expecting. Overall it looks like short term pain for the SP but long term gain. I will probably take up my entitlement. Anyone else have thoughts?

:eek2: No that caught me off guard. But if I had the cash spare I'd take part in this... it looks like Senex are confident that they have a massive resource (their words) and they are willing to fund its development themselves rather than share the spoils. I get the impression that they're going to go for broke over the next 12-18 months, looking at their projected expenditure. Which leads me to suspect that the big action (ie., possible takeover/consolidation) may well happen within the next couple of years -- hopefully at a huge premium to the current share price.

[gazprom1]

Will be interesting to see if there will be a good buying opportunity in the coming weeks after the dilution or whether the SP remains well above the placement price.

Watching with interest.

Gazprom

[OutToLunch]

Will be interesting to see if there will be a good buying opportunity in the coming weeks after the dilution or whether the SP remains well above the placement price.

Watching with interest.

Gazprom

I'd be more than happy with a repeat of the share price performance following the last cap raising. :)

[bermuda]

I'd be more than happy with a repeat of the share price performance following the last cap raising. :)

OTL,
I will drink to that. If SXY can get this resource proven then we will be a MAJOR attraction.

[OutToLunch]

OTL,
I will drink to that. If SXY can get this resource proven then we will be a MAJOR attraction.

Buggeration. I have some dosh set aside with the intention of knocking a hole in the mortgage when it rolls over in September, but the latest developments in Senex-land have got me seriously tempted to take up my entitlement & then retrieve the capital later to knock off the mortgage early at the other end instead. Oh, the agony... better take a long walk this weekend to mull it over...

[Rabbi]

The European situation makes participation in the capital raising more than a little risky. Nevertheless
the fact that Sentient group are taking all they can get, leads me to believe there won't be any shortfall.
I'd like to see how Sasanof flows, after it is cleaned up, before I commit any more of my hard earned funds to SXY
Dilution won't be a problem if they can prove up a major unconventional wet gas resource within the next 12 months.
What might sway me is the aggressive and up beat style of Ian Davies, his management style being similar to Eric Streitberg of Buru Energy.

I have a feeling both companies are headed for glory but a lot of work needs to be done yet..

[STRAT]

Still in a Trading Halt.
Wonder what else thay have to announce?

[temptation]

Still in a Trading Halt.
Wonder what else thay have to announce?
According to yesterdays announcement the trading halt will be lifted on June 21 when shares will resume trading on an ex-entitlement basis.

[OutToLunch]

Here I was thinking about organising a bank cheque for the 74c raising and instead someone decides to offer the same quantity of shares (and then some) on-market at 72c. Much less hassle than a trip to the bank -- and a bit of beer money left over as well. :)

Is this selloff a case of June tax-selling in action, or is it institutions angling to get as much shortfall for themselves as possible? Seems a bit overdone.

[Jay]

Was thinking the same thing OTL, if it stay around this level then will just top up from here much easier.
I tend to think it is overdone, should rise to at least the 74c in the short term, but then when has Mr Market ever listened to us

[OutToLunch]

Was thinking the same thing OTL, if it stay around this level then will just top up from here much easier.
I tend to think it is overdone, should rise to at least the 74c in the short term, but then when has Mr Market ever listened to us

Should have waited, now 69c. http://www.weatherforum.org.nz/phpBB3/images/smilies/B.gif

[Jay]

Hmmm - I have held on what I bought recently,(prior to the rights issue annoucement) how low will it go???? No much hopefully before it turns around again, then it will be time to top up
As percy says well postioned for the up turn!

[airedale]

Random thoughts since the last post: Major holders BG sold out at $1.02. The SXY directors persuaded other investors to buy in at $1.02. Then there is a rights issue at $0.74. Were the new investors grumpy at that. Are the new investors even grumpier now at $0.61. The right issue was reasonably well supported but not sold out. The rights issue was underwritten so the underwriters are confident. The directors are still buying on market. Does this have "start buying again" written all over it.?

[Jay]

Might be right airedale
I sold out soon after the rights issue when it started to climb back toward the 74c mark and before it dropped further again

[trackers]

quarterly makes good reading...

$700mil market cap, $200mil cash (no debt). 1mil barrels p.a and on the expand... Hugely prospective shale and CSG programmes.. I'm in for a few; 20% discount to spp is pretty decent imo

[soulman]

Making a comeback. Did well when I noticed a double bottom in SXY at 60 - 62. 70's will not be too far away.

[The Big Ease]

quarterly makes good reading...

$700mil market cap, $200mil cash (no debt). 1mil barrels p.a and on the expand... Hugely prospective shale and CSG programmes.. I'm in for a few; 20% discount to spp is pretty decent imo

200m cash?

THey don't need a farm-in partner then!

[STRAT]

I see the bots are capping SXY again this arvo :glare:

Looks like SXY has bottomed for now. Sill a bit early for the timid but......

[airedale]

Hi Strat, we may see some consolidation in the high .70's as the underwriters of the recent offering at .74 retrieve some of their cash.

[STRAT]

Hi Strat, we may see some consolidation in the high .70's as the underwriters of the recent offering at .74 retrieve some of their cash.What? No pump n dump? :D
If they want out. Id have thought theyd create a bit of a run.

[airedale]

Well 5% in as many weeks may be OK to start with.

[STRAT]

Another Intraday chart painted by Bots for a dollar or so :t_down:

[airedale]

Hi Strat, if you go to stockness and look at the trades for NWE, then it appears that stock was manipulated up on the last trade. The weighted average for the day is 8.21.... then at the close one measly trade worth $120 goes through at 8.5.

[STRAT]

Hi Strat, if you go to stockness and look at the trades for NWE, then it appears that stock was manipulated up on the last trade. The weighted average for the day is 8.21.... then at the close one measly trade worth $120 goes through at 8.5.Hi Airedale.
Yeah, saw that one go through just before close. Not quite the same though as the relentless bot transactions.

[OutToLunch]

ASX announcement just now: "Trades in SXYKOF @ 11:31:44 are under investigation"

What is this? Hopefully some serious bot-squashing by ASIC, but I don't hold out much hope for that...

[Toulouse - Luzern]

ASX announcement just now: "Trades in SXYKOF @ 11:31:44 are under investigation"

What is this? Hopefully some serious bot-squashing by ASIC, but I don't hold out much hope for that...

Hi OTL,

No, it is not an enquiry into SXY trading with BOT's from my analysis but into SXYKOF warrants. (IMO).

Data from Directbroking website.

SXYKOF.ASX - Senex Energy Limited - Citiwarrants 0.455 SXY Mini Long.

Context is SXYKOF went from last trade of 16.5 cent to 32 cents for the first trade of 12 September.

SXYKOF Trades for yesterday.

27 ¢ (AUD) Change +10.5 cents +63.6% 12/09 14:58 AET


27 300,000 14:58
32 150,000 14:57
31.5 150,000 14:57
31.5 150,000 11:31
32 150,000 11:31

The enquiry was advised at 11.42am AEST and concluded at 11.54am AEST.

NCR was the result and NCR is presumably No Change Required.

Rgds

[airedale]

I am just a simple Airedale. Can anyone explain these SXYKOF s. Who would trade them? Are they like options?

[Toulouse - Luzern]

Hi Airedale,
I looked at these today for the first time.
No recommendation from me at all, just potential info sources, may be short and long.
Caveat: You may not want to know this much.
They may not be simple.
They may be illiquid - eg I found ETF's were on the ASX eg, Hong Kong, Singapore
Some web links.

ASX http://www.asx.com.au/products/minis.htm
ASX site http://www.asx.com.au/resources/investor-update-newsletter/201105-maximise-gains-with-minis.htm
Citibank site http://www.citibank.com.au/AUGCB/APPS/portal/loadPage.do?path=/prod/sub_det/investments_warrants.htm&
Access to Citibnk Webinar on mini warrants https://au.citifirst.com/
Citibank site prices https://au.citifirst.com/downloads/Minis-Strike-and-Stop-Loss.pdf bbb

All the best and regards
(be careful out there...)

[STRAT]

I am just a simple Airedale. Can anyone explain these SXYKOF s. Who would trade them? Are they like options?

http://en.wikipedia.org/wiki/Warrant_%28finance%29

[OutToLunch]

Hi OTL,

No, it is not an enquiry into SXY trading with BOT's from my analysis but into SXYKOF warrants. (IMO).

Data from Directbroking website.

SXYKOF.ASX - Senex Energy Limited - Citiwarrants 0.455 SXY Mini Long.

Context is SXYKOF went from last trade of 16.5 cent to 32 cents for the first trade of 12 September.

SXYKOF Trades for yesterday.

27 ¢ (AUD) Change +10.5 cents +63.6% 12/09 14:58 AET


27 300,000 14:58
32 150,000 14:57
31.5 150,000 14:57
31.5 150,000 11:31
32 150,000 11:31

The enquiry was advised at 11.42am AEST and concluded at 11.54am AEST.

NCR was the result and NCR is presumably No Change Required.

Rgds

Thanks for the explanation T-L. I know nothing about these warrants (well, a bit more now after your subsequent posts). I'd be more than happy with an "NCR" if the head shares decided to make a move like that... it feels like it's been a while now since we had much excitement in this neck of the woods.

[airedale]

Thanks guys for the info. Now that I have sniffed them I will leave them alone.

[Toulouse - Luzern]

Hi,
Watching this one patiently.
Awaiting news.
Yesterday day chart shows a pretty good example of a classic saw tooth.
There was a gentle range trading tussle between bulls and bears, that are both really not that interested just now.
Average 3 month volume is 10.280m.
Yesterday was 1.130m.
Previous 4 days was about 2.063m
Range for day .2.
7.0 open as a peak was hit 6 times during the day .
7.1 as a peak hit twice.
6.9 as a low hit 6 times.
Close at 7.0, plus .1 for the day or 1.4%.
.

[STRAT]

Yesterday day chart shows a pretty good example of a classic saw tooth.

.Bots infesting NWE is the reason for that I reckon.

WE are on the wrong thread too :D

[airedale]

Today's ann SXY has just become a significant holder in ACN Acer Energy. ACN has gone from 10 to 28 cents in the last few months. Is there a cunning plan here. Any thoughts?.

[bermuda]

Today's ann SXY has just become a significant holder in ACN Acer Energy. ACN has gone from 10 to 28 cents in the last few months. Is there a cunning plan here. Any thoughts?.

Hi Airedale,
I bought 1 million ACN at 17.7 cents on the basis that the Flax and Juniper fields were linked. Ian Davies rang me this morning to say they heard about this opportunistic bid by Drillsearch last week and that they had taken appropriate action. ( i.e to stop DLS getting any more ) Let's hope the forthcoming drilling program by ACER ( who are run by Nick Davies ex Arrow ) can prove up the goods.

Re SXY everything is progressing very well and Skipton results will be out later this week. SXY is going to become a very large company.

We must get together for a beer sometime.
Cheers

[kiwiwim]

I say amen to that.
Still hanging in with my small lot of sxy.

[airedale]

Hi Bermuda, welcome back and well done with ACN. Nice to hear from you again. A summer time drink....good idea.

[OutToLunch]

I smell smoke...

http://hotcopper.com.au/post_single.asp?fid=1&tid=1856013&msgid=10826942

[Corporate]

Me too :-)

I jumped on board Senex last week. This will set the CB on fire...

[STRAT]

Looked like VPE might go for a run this morning till the Bots beat it into submission.

[OutToLunch]

Looked like VPE might go for a run this morning till the Bots beat it into submission.

Yeah, quite likely. :mad ;:

What a great announcement though about that new discovery of wet gas at Skipton-1. Surely longer-term the bots can't keep this one contained. The reserves due to be booked could be enormous. :)

[STRAT]

Guess which one is a Bot.

The Indigenous Bot - found in Western Australia, Tasmania, the south-east coastal region of New South Wales and central Victoria. It may cause paralysis.

[Corporate]

Yeah, quite likely. :mad ;:

What a great announcement though about that new discovery of wet gas at Skipton-1. Surely longer-term the bots can't keep this one contained. The reserves due to be booked could be enormous. :)

I like...

"this is equivalent to a gas field development of over 600 wells, spaced at 80 acres"

[OutToLunch]

I like...

"this is equivalent to a gas field development of over 600 wells, spaced at 80 acres"

Not hectares, then... I wonder what target audience still talks in acres? The same people who know a lot about Eagle Ford, maybe?

[OutToLunch]

Frustrating to see SXY going backwards in a rising market after such a good announcement yesterday. Surely that was damn good news about Skipton-1, or did I miss something...?

[Anna Naum]

Frustrating to see SXY going backwards in a rising market after such a good announcement yesterday. Surely that was damn good news about Skipton-1, or did I miss something...?

Citigroup initiated coverage of SXY with a sell rec today.

[OutToLunch]

Really? Would be interested to know why, if you have any detail... thanks

[Anna Naum]

Really? Would be interested to know why, if you have any detail... thanks

Really, sorry it is not my research to redistribute but I am sure the company has a copy you could request.

[The Big Ease]

Sell? On SXY?

Oh this is going to be awesome.
I can't wait for it to plummet back to 40's.

[Anna Naum]

Target price was low 60's and who said Citigroup were really that good at calling this stock.

[airedale]

If Citigroup had never covered SXY before, why would they put a sell on it. Presumably none of their clients would be invested in it.

[Anna Naum]

Sorry it is just not that easy for a big broking firm noawadays

[bermuda]

Citigroup initiated coverage of SXY with a sell rec today.

This confirms/reinforces why I gve up listening to Financial Analysts/Brokers years ago.

Brokers make you go Broke.

[OutToLunch]

This confirms/reinforces why I gve up listening to Financial Analysts/Brokers years ago.

Brokers make you go Broke.

I'd like to see Citi's reasoning for the sell rec. A target of low 60s isn't exactly far below the current price either, hardly outside the "noise" range of ordinary market fluctuations.

The conspiracy theorist in me wonders if this is part of a plan for someone to acquire SXY on the cheap. Nah, surely not. :eek2:

[STRAT]

The conspiracy theorist in me wonders if this is part of a plan for someone to acquire SXY on the cheap. Nah, surely not. :eek2:I trust all Hedge Funds, Investment Groups and Banks.
They never lie, always have the good of small holders at heart and operate in a manner that shows complete integrity and a genuine heart felt concern for the companies they buy and sell. They always do what is best for the world as a whole.

On a serious note, they often get what they want so watch those charts close.

It is my opinion that Bots have been stalling VPE on a regular basis all year. I wonder who owns them?

[STRAT]

What do you fellas reckon about this?

Text source
http://www.globalprime.com.au/global-reports/trade-ideas-june-6-2012/

[OutToLunch]

It is my opinion that Bots have been stalling VPE on a regular basis all year. I wonder who owns them?

Perhaps we have a case of two dots just itching to be joined up. Can't rule it out, as blatant as it might seem.

Interesting comment here (http://hotcopper.com.au/post_single.asp?fid=1&tid=1858965&msgid=10845624)...

[Corporate]

WOW, look at the free flow

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01344682

[OutToLunch]

WOW, look at the free flow

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01344682

Stunning result. Citi, Schiti, who cares. After reading the DML thread on HC I've got a bit of a better idea of what might be going on, and how we should regard Citi's opinion on SXY.

[airedale]

Well spotted,Strat.

[Corporate]

unbelievable that SXY ended down after the mastang announcement today and the results of skipton the day before!

[airedale]

If Citigroup had never covered SXY before, why would they put a sell on it. Presumably none of their clients would be invested in it.

That sell recommendation from Citi has given the SP a nice little boost. Up about 10% so far.
Can anyone smell rat.?

[OutToLunch]

That sell recommendation from Citi has given the SP a nice little boost. Up about 10% so far.
Can anyone smell rat.?

Yup, for sure. Interesting trading in SXY of late too, I still get the feeling something is brewing in the background. The fracking programme coming up will be a big test of the potential SXY might have.

[airedale]

Another good ann from SXY today. Hopefully Citigroup will downgrade it again.

[airedale]

http://www.stocknessmonster.com/news-item?S=SXY&E=ASX&N=721624

One of those Wall st gurus once said: "sometimes the market does something so stupid that it takes your breath away".

[OutToLunch]

Ladies and jellyspoons, start your engines....

http://www.bloomberg.com/news/2013-03-06/chevron-shale-bet-down-under-makes-senex-target-real-m-a.html

:t_up:

[soulman]

Ladies and jellyspoons, start your engines....

http://www.bloomberg.com/news/2013-03-06/chevron-shale-bet-down-under-makes-senex-target-real-m-a.html

:t_up:

Seems to be the best out there for a takeover. Profitable. Nice margin. Latest result very good propelled the shares from 60 cents to current price of 75 cents. Although the media helps the price today.

No debt, fully funded and $150 mil cash. Better than BPT, DLS. COE could be another contender.

[airedale]

SXY getting a decent nudge along for the second Friday in a row.
Bermuda, did you attend the O&G conference in Sydney this year.?

[bermuda]

SXY getting a decent nudge along for the second Friday in a row.
Bermuda, did you attend the O&G conference in Sydney this year.?
Hi Airedale,
Yes, had a great time but Senex weren't there. We must have a party at my place. Providng TTE comes in of course.

AS always the drillbit does the taliking. If it talks then we have a party.

[OutToLunch]

The Hornet has landed, see announcement just out. Over 2 million cf/day!

http://www.senexenergy.com.au/uploads/contentFiles/files/2013_04_03%20Hornet-1%20flows%20gas%20at%20over%20two%20million%20cubi c%20feet%20per%20day.pdf

Now let's see some decent share price action. I'm still mystified by the sub-par performance of late, despite the talk of consolidation. Or maybe that is the reason.

[Paddie]

It will be interesting to see where the share price heads from here. They recently posted a very good result and I would have thought that would have propelled the share price higher than the late 60's.

Let's see where this announcement takes us?

Paddie

[OutToLunch]

Looks like a move is on. Can it be sustained this time? Gut feeling says it will...

[Corporate]

I bought some DLS today - think that the sector will re-rate shortly. Take a look at this presentation http://www.asx.com.au/asxpdf/20130225/pdf/42d7s65jcrqz3y.pdf in particular page 33 and the exit Y13 production rate!

[airedale]

What about that. A very upbeat presentation today and the SP drops 6.2%.

[bermuda]

What about that. A very upbeat presentation today and the SP drops 6.2%.
Hi Airedale, How are you going?
This market has got me beat. CSG stocks suffered a bit today due to the Greens making it official that would lobby to close down Australian CSG. Talk about shooting themselves ( and Australia ) in the foot. It actually will turn out to be a benefit for Cooper shale plays and CSG companies that have excellent landholder relations.

Senex are sure working up a chest full of strong producers. Hornet will be outstanding. People just are'nt interested at the moment. This 'flu' could stay around until post election. Not to worry.

[airedale]

Thanks, Bermuda, always good to have your input.

[airedale]

Director Dennis Patten just bought a modest 25,000 shares on market. Not a lot for Dennis but an encouraging signal to the market.

[OutToLunch]

What a great pair of announcements the last couple of days. Major gas contingent reserver upgrade followed by a major oil reserves upgrade, topped off with bullish comments looking forward about the new drilling programme and the willingness of Senex to talk turkey with regards to possible JV arrangements in the near term. We know the fuse is lit, it's just a question of how long it is. One happy shareholder here (especially considering I've been jolly-rogered elsewhere in the market).

[Huang Chung]

Bought in as well after yesterday's announcement.

Today's announcement was a nice bonus.

[OutToLunch]

I got emailed this over the weekend. Nice to see Senex getting some press attention. Here's looking forward to this translating into a significantly higher share price; now that June taxloss selling is over with we should see a bit more support anyways.

http://www.sharecafe.com.au/fnarena_news.asp?a=AV&ai=26801

[airedale]

Hi OTL, we just need another sell recommendation from Citibank. The last one gave the SP a boost. :t_up:

[airedale]

Senex has just picked up an interest in a promising piece of land to farm in with Tellus TLU. Does anyone have any info on Tellus. Don't tell me about vacuum cleaners:)

[bermuda]

Hi Airedale,
Carl Dorsch is the CEO. I met and had a few dinners with him at a few conferences. He used to head up Adelaide Energy with Neil Young. That was a good bet. Good guy but got shafted by BPT. Good to see him with another company and involved with SXY.

[OutToLunch]

Been a bit quiet in SXY-land of late. However we must be close to some news on a possible JV for Hornet. Hopefully that will provide a catalyst for SXY to break out of this interminable trading range that we've been stuck in since early last year. Interesting too to see Macquarie put out a recommendation to buy up to 97c. Takeover talk I think would be more realistic for next year though once the drilling programme has advanced some more and (hopefully) identified more reserves.

[Paddie]

I must admit to getting more than a bit tired of the trading range that Senex is in. I would have thought that it should have well pushed through the 80c barrier on the way to the highs of last year. A big drilling programme ahead, lots of cash in the bank, record oil production and of course Hornet?

Very frustrating to see the share price at these levels.

[airedale]

SXY pushing up slowly to mid .80's Back in January when it was about 65-70 cents Bermuda reckoned that it would be good for 30% on top this year. I think that it could go past that. In May 2012 RBS Morgans had no difficulty in managing to place 8% of the issued capital at $1.02 to institutions and professional investors when QGC sold out.
All things being equal it should get past that again.