Cougar Energy (CXY), another UCG firm

[tommy]

Okay, it has been mentioned in my LNC thread but thought Cougar Energy (CXY/CXYO) in the hot UCG sector deserves its own thread due to its massive rerating of late (thanx pago for reminding me of CXY, I have been too busy making money, while getting lazier with posting!)

"Cougar Energy Ltd is an Australia-based company that was engaged in the commercial development of projects utilizing underground coal gasification technology (UCG), and the development of markets for the vanadium redox battery technology, during the fiscal year ended June 30, 2007 (fiscal 2007). Its major project is the Kingaroy UCG project, on which a preliminary six-hole drilling program was completed in fiscal 2007. In fiscal 2007, the Company acquired Cougar Energy Pty Ltd. The acquisition gave the Company access to seven coal tenements in Queensland through farm-in agreements with metallica Minerals Ltd. Cougar also owns 50% interest in Cougar Energy (UK) Ltd, through which it accesses UCG project developments in India, pakistan and Europe."

Company Website:
http://www.cougarenergy.com.au/

I don't hold but will do in the event of any price weakness. Behind LNC and MEE, CXY is a very strong candidate of realizing UCG. Keep an eye on it!!

I'm a bit tired so let's hope someone else provides us with an analysis :-)

[tommy]

Boyz and galz...

CXY up 20%!!
CXYO up 31%!!!

http://bigcharts.marketwatch.com/interchart/interchart.asp?symb=AU%3Acxy&draw.x=54&draw.y=17

Don't tell me you haven't be told :-P

[pago]

hi tommy.good closing price,i jest but maybe your post was more then timely.looking at a few filters,cxy figures on volume spike,upward price breakout.big charts has lnc market cap at over $1 bill,too high,by comparison cxy is still cheap.calculator time yet again.do you think that gap will be filled?cheers pago.

[tommy]

Hi pago,

Fundamentally I assume that gaps will always eventually get filled but when the volume is rising like this, I'm not so confident... it actually could be blue sky territory, now that it closed above the 12c barrier.

I am HOPING that it continues to rise, but it has run hard and consolidation may be due, but the fact is that as you pointed out, it is a massive bargain compared to LNC and MEE. Unless crude oil plummets, I can't see the UCG sector losing momentum in the short term. Wait until the big boyz start making a move to tap this new technology, that is when the bubble will really expand!

Keep and eye on SXP (SXPO) and GLX (GLXO) as well, especially the options. As long as crude oil remains high, interest in UCG could only grow. And along with every step of progress made by LNC, their peers will follow suit... upwards!

[tommy]

Ladies and gents,

CXY up 21% and CXYO up 34% today...

As I have repeatedly said, UCG sector is where you want to be in when crude oil is expensive and when the market activity is dull!

Stay tuned, CXY is still a lot cheaper than LNC and MEE.

[shasta]

Ladies and gents,

CXY up 21% and CXYO up 34% today...

As I have repeatedly said, UCG sector is where you want to be in when crude oil is expensive and when the market activity is dull!

Stay tuned, CXY is still a lot cheaper than LNC and MEE.

Tommy

Have a look at BLK :cool:

[tommy]

Tommy

Have a look at BLK :cool:

Shasta, are you able to read my mind or what... I had been quietly accumulating BLKO lately!

I will open a thread later with my research on BLK which has the JORC advantage over the other UCG players (bit still largely ignored by the market).

[shasta]

Shasta, are you able to read my mind or what... I had been quietly accumulating BLKO lately!

I will open a thread later with my research on BLK which has the JORC advantage over the other UCG players (bit still largely ignored by the market).

Yup a bigger JORC resource than even LNC & all for a $12m market cap (@ 36c)

Maybe i shouldnt mention BUL either :D

[tommy]

Yup a bigger JORC resource than even LNC & all for a $12m market cap (@ 36c)

Maybe i shouldnt mention BUL either :D

Hi Shasta

BUL?? I like that bullish stock code, lol
But was not aware of it, what do you know about them? Doesn't look like they have listed options (bummer!)

[bermuda]

Yup a bigger JORC resource than even LNC & all for a $12m market cap (@ 36c)

Maybe i shouldnt mention BUL either :D

Shasta,
You are right onto it. I might have to get some BUL and some cxy. Always liked the word Cougar. And that means I have to sell something and once I sell something I can never return lest I be classed as a trader.

If I have to TEX will be the one to go but these could double quite quickly.

I should just go and do it. Hey what do you think about the short sharp correction we are going to have in the next few weeks. Could even take my oilers down a peg. Hate to be involved in anything else because the BIG BEAR is sharpening his claws

[pago]

Ladies and gents,

CXY up 21% and CXYO up 34% today...

As I have repeatedly said, UCG sector is where you want to be in when crude oil is expensive and when the market activity is dull!

Stay tuned, CXY is still a lot cheaper than LNC and MEE.

hi tommy,cxyo looking good.slow steady upside,lots more if oil price holds,any views on a target price?i can see 30c on market cap,when compared to others,prudent to use stop loss but not yet,cheers pago

[pago]

Ladies and gents,

CXY up 21% and CXYO up 34% today...

As I have repeatedly said, UCG sector is where you want to be in when crude oil is expensive and when the market activity is dull!

Stay tuned, CXY is still a lot cheaper than LNC and MEE.

hi guys,couger on the run,today cxy up 3.5c to 20c.ie 21%,cxyo up 3c to 14c,ie 27%.great volume.is anyone holding?cheers pago

[tommy]

Damn, sold those options way too early :-P

Was waiting for consolidation but shot up again before any real retrace!!!

Congrats to holders :-)

[tommy]

Trading halt now... equity raising coming.

____________

Cougar Energy Limited (ASX Code CXY) requests a trading halt in its
securities effective immediately pending an announcement from the company regarding an equity raising.

The Company requests the trading halt until the announcement is released, subject to the limit imposed by the Chapter 17 of the ASX listing rules.
The Company is not aware of any reason why the trading halt should not be granted.

[pago]

Trading halt now... equity raising coming.

____________

Cougar Energy Limited (ASX Code CXY) requests a trading halt in its
securities effective immediately pending an announcement from the company regarding an equity raising.

The Company requests the trading halt until the announcement is released, subject to the limit imposed by the Chapter 17 of the ASX listing rules.
The Company is not aware of any reason why the trading halt should not be granted.

hi tommy,couger missed the run today,trading halt,hope they havent underpriced the equity raising,if so it better be for a large amount,ie full project funding.wait and see.cheers pago

[tommy]

Hi pago,

The big question is who are they raising the capital from?? I have no idea how this will unfold...

[tommy]

CXY punished after capital raising... too cheap and too small in amount IMHO. Should have raised a lot more focusing on future growth, glossed up with an upbeat presentation.

[pago]

CXY punished after capital raising... too cheap and too small in amount IMHO. Should have raised a lot more focusing on future growth, glossed up with an upbeat presentation.

hi tommy.i agree totally,shares issued too cheap.50 mill at 14c.i havnt sold,imho cxy will uptrend again cheers pago,

[tommy]

CXY up 24%, CXYO up 30%!!!!

WTF, all my holdings are going gangbusters today, isn't this supposed to be a down day???

UCG sector going nuts or what!!! This is crazy!!!!!

[shasta]

CXY up 24%, CXYO up 30%!!!!

WTF, all my holdings are going gangbusters today, isn't this supposed to be a down day???

UCG sector going nuts or what!!! This is crazy!!!!!

Tommy

You still in this, heres the ann from EDS about to start drilling...

http://www.stocknessmonster.com/news-item?S=EDS&E=ASX&N=520360

[stephens.pc]

Decent gain today on reasonable volume - anybody know why?

[drillfix]

Funny, CSG stock, price has doubled and no posts since March, WTF?

Anybody on this stock at all still, it looks like its gonna keep climbing.

AA, how about a chart for this one buddy ;)

[crooky]

G'day drillfix,
Bought a few back @ 9 , only just back in the black. Bit of a wildcard you might say.
You might want to go check as their into UCG. ;)

[drillfix]

G'day drillfix,
Bought a few back @ 9 , only just back in the black. Bit of a wildcard you might say.
You might want to go check as their into UCG. ;)

Hi crooky, good stuff, have you any targets in mind?

I did have a look at some of the anns along with a BRR interview, but then just need to make some $s and hopefully this one will help.

[crooky]

Hi drillfix ,
As I said a bit of a wildcard and only took a small holding . I just want it to Firstly hold above the 10 cent mark. That will be the biggest sign that we may be on our way.

[sharer]

... WHY? Waddya reckon is going on?

From "news" on i think 2nd day of Trading Halt it said something about waiting for announcement re some fund raising. But Halt extended yesterday, & today it seems CXY asked ASX to suspend its shares from trading "immediately".
Have they been taken over? or maybe just down the tubes?

[soulman]

Here's the 411. Trading halt must end in 2 business days but if the cap raising has not been finalised yet during the 2 business day, the halt become suspension. No biggy. Just the way they are in the Listing rule requirement.

[sharer]

Here's the 411. Trading halt must end in 2 business days but if the cap raising has not been finalised yet during the 2 business day, the halt become suspension. No biggy. Just the way they are in the Listing rule requirement.

Thanks Soulman. Now i just have to find where i put that book on deep breathing exercises...

[drillfix]

No big deal with the 2nd TH,

Apparently negotiations still ongoing with soph/inst investors wanting to obtain stock at lower price, or something like.

Time will tell, but IMO, the sp could take a hammering or another dip in the pond to the land of 8, as this stock seems capped at 11 cents upwards as there has been quite a few attempts at breaking without any success.

Getting a bit tired of this stock now whilst watching, LOD, EXE, and others run the gauntlet and feel left in the dust atm.

Same with IRH, read the latest Ann, seems every man and his dog connected with the company getting stacks of shares except the poor current holders, I mean WTF is going with that and by time it changes its name to Clean Global Energy, there will be another 20 CSG Jrn companies formed.

Frig it, too much BS for my liking, just GREEDY money bent people and it dont help when I feel like Im picking nothing but dogs my whole FRIGGING LIFE so fu@k it all.

[sharer]

No big deal with the 2nd TH,

Apparently negotiations still ongoing with soph/inst investors wanting to obtain stock at lower price, or something like.

Time will tell, but IMO, the sp could take a hammering or another dip in the pond to the land of 8, as this stock seems capped at 11 cents upwards as there has been quite a few attempts at breaking without any success.
...

Right you were Drillfix. Raised a lot at 8.25cps, papers out soon on SPP.
Finance for very soon setting the fire in Kingaroy, producing gas to test the production train etc.
Beginning to sound interesting, wrong time to give up?

[drillfix]

Beginning to sound interesting, wrong time to give up?

Hi sharer,

Its always been interesting. And its good that they are giving the option also to its shareholders.

What concerns me is Patterson's Securities.

To me, its like these guys are the ones who are capping it and they are the ones also doing the placement, so all this means is that we go around in the same circle again.

I would like to basically get out to buy back, but not at a loss and what is the point of having a spp to holders when you can nearly buy on market (depending on how the day/week pans out).

Dont get me wrong, I like the story, and I am a patient. But the performance of this stock does not impress me when there are WAY better performing stocks to actually hold.

Nov/Dec hopefully will be a different but honestly thinking about putting my money in this elsewhere atm, or at least half of it.

[drillfix]

Anyone else on this site actually holding this stock?

I would have thought there would be more folks interested in this one.

How about some opinions about the FA for Jan09 along with some TA for after the SP entitlements end a week tuesday. Anyone??

I believe the stock is going to run, god knows, every other stock has so why not this one too.

[pago]

Anyone else on this site actually holding this stock?

I would have thought there would be more folks interested in this one.

How about some opinions about the FA for Jan09 along with some TA for after the SP entitlements end a week tuesday. Anyone??

I believe the stock is going to run, god knows, every other stock has so why not this one too.
hi drillfix, i have a small holding,i cant advise you as im indecisive myself whether to increase on the ssp.i am waiting to be fully informed,todays ann is probably all we will get.expectation is 16/20c by dec 09/jan2010,i need to compare that with other prospects,i like the concept,company,potential.cheers pago.

[drillfix]

Cheers Pago,

Well, starting to look like there is a bit of interest after all.

If this slight move can be maintained I can sell some off and take up some spp.

Like all things, time will tell~!

[drillfix]

IMO, this one is looking primed, I guess once placement is complete this will eventually break 10 - 12c resistance.

Check it out, plenty of volume, MACD looks set, topping the Bollies etc etc

http://i37.tinypic.com/156zrsm.jpg

[sharer]

This 10c pussy cat is purring:)
Waiting to hear how much we get from the SPP@8.25c - with the willing buyers of recent days i suppose we'll be scaled back.

[drillfix]

Dont really know Sharer.

The actual cutoff date for the SPP was actually on the day before they announced it, so new buyers never had a chance to participate after that date.

Will they scale us back, I dont think too much because there is a Max of $15K as you know.

I tried to grab 15K on another credit card but it would not let me.
As in, it would not accept Bpay from a Credit Card so I need to juggle exactly how Im going to do this.

I would imagine if it was fully subscribed then they just do the math accordingly.

[pago]

Dont really know Sharer.

The actual cutoff date for the SPP was actually on the day before they announced it, so new buyers never had a chance to participate after that date.

Will they scale us back, I dont think too much because there is a Max of $15K as you know.

I tried to grab 15K on another credit card but it would not let me.
As in, it would not accept Bpay from a Credit Card so I need to juggle exactly how Im going to do this.

I would imagine if it was fully subscribed then they just do the math accordingly.

hi drillfix,iv decided to buy more via the spp.todays trading was strange.21.5 mill shares traded,up 9%,looks good when i expected a selloff,thats $2.1 mill traded,cxy spp to raise $6 mill.can you assist re b pay?never used it.asb tell me they now do b pay as from last week,cost $20.cxy docs state if you want to use b pay contact your broker.can you use b pay without a broker,cheers pago.

[drillfix]

Hi Pago,

Wow, what good news today and some nice gains, but I honestly would have thought it would have broken out past 12c. Ah well the day is not over and a run could easily be on the cards for hopefully a strong close.

With regards to the SP.

Yes you can use Bpay without a broker, because on your entitlement Form you should have a Bpay Code and then a REF# which should be your allocation number. So if you say take out full 15K worth they assign the Qnty to that number which is you and your account.

Problem with Credit Card though is that you cannot Bpay with Credit Card if you plan to use that. So you would need to Transfer from your CC into a Bank Account and then Bpay it with the method above.

Nothing else needs to be done, no broker and no broker fee and then a week or so later the amount of shares you subscribe to should show up in your Trading account.

Dont know if they charge a fee for using Bpay or not so I cant answer that one.

After todays news I am in for more of these as there will be significant events that should re-rate this stock and allow for more trading and breakouts as this stock has been or appeared to have been Capped.

Good luck with that.

[drillfix]

25 September 2009

COUGAR ENERGY – ERGON ENERGY AGREEMENT FOR POWER SUPPLIES TO QUEENSLAND UCG PROJECT


* Offer for Network Connection Services from Ergon Energy signed to facilitate 30 years supply of power to Cougar Energy’s Kingaroy underground coal gasification project

* Cougar and Ergon working together on potential off-take of electricity in Cougar’s pre-production phase via Ergon Energy as well as transmission line configurations for the life of the Kingaroy projec Construction work at Kingaroy progresses on schedule

* Cougar Energy Limited (ASX: CXY) and Ergon Energy have reached agreement for formulating a 30 year power supply agreement to Cougar Energy’s underground coal gasification project at Kingaroy in Queensland.

* The agreement requires the execution of a formal Customer Connection Contract for which Cougar Energy is about to lodge the necessary bank guarantee with Ergon Energy. This is another development milestone reached at the Kingaroy project.


Ergon Energy Corporation Limited – owned by the Queensland Government - services residential and industrial customers across regional Queensland and is actively involved in alternative energy generation solutions.

Cougar Energy’s Managing Director, Dr Len Walker, said “Cougar Energy and Ergon Energy are currently working together to determine the optimal configuration of additional transmission lines during the various phases of development at the Kingaroy project.

“We are also in discussions to facilitate the potential off-take of a limited amount of electricity via Ergon Energy, which Cougar Energy may generate during the gas pre-production phase at Kingaroy,” Dr Walker said.

“Cougar Energy is also pleased to advise that further to our 14 September 2009 announcement, construction works on the Kingaroy UCG site continue to progress on schedule.


“Major equipment deliveries are continuing and off-site fabrication of the main processing skids is complete and awaiting transport to site. Weather conditions have been favourableallowing bulk earthworks to be substantially completed. Engineered fill has been laid and compacted in readiness for construction of concrete foundations.”


After the placement the of shares on issue now is: 808,521,749

Certainly looks like lots of progress on the site is on/ahead of schedule.

[drillfix]

I know there ain't very many CXY fans out there.

But for those there are, tomorrow is last day for the SPP offer, or today via BPAY.

Just sent mine via a Bpay about half hour ago and it should be cleared by 5pm tomorrow.

Would like to see this one break confidently break out through the 12c resitance eventually ;)

[sharer]

...
Would like to see this one break confidently break out through the 12c resitance eventually ;)

What that man said! ;)

[sharer]

...Waiting to hear how much we get from the SPP@8.25c - with the willing buyers of recent days i suppose we'll be scaled back.

New shares from SPP allotted & trading today.
Spp was oversubscribed by 213%, & we are scaled back as foreseen,
so will receive nearly two thirds of number applied for (65.2839%).

SPP issue price was 8.25c, currently trading at 9.3; sell 12.8m/10.1m buy.

Fundamental business looks good, & implementation going ahead well.

[drillfix]

Hi Sharer,

Yeah, a good result or outcome from the SPP.

Great fundies will see this one though so worth the hold.

Can you actually see your issued shares in your broker account? :confused:

I cant, so cant even think about trading any should I chose to. (comsec) :rolleyes:

ps: forgot to add also, Nicely Worded ANN including the results.

[sharer]

...Can you actually see your issued shares in your broker account? :confused:... ps: forgot to add also, Nicely Worded ANN including the results.

We should relax Drillfix.
"9 October 2009 Dispatch of holding statements to shareholders via Computershare
13 October 2009 Dispatch of refunds (without interest) to shareholders via Computershare"

Hmmm... now what to allocate that boomerang money to? More CXY cheap?

[drillfix]

Sharer,

9 October 2009 Dispatch of holding statements to shareholders

That is the paper record that they officially post out.

I know others who are with eTrade and have them in their account ready to sell if they choose.

With the spare change I think I will pay back my cCard which is a good discipline to follow :rolleyes: although I wouldnt mind a few more :p

Are you with commsec or etrade and are yours showing up?

[sharer]

...Are you with commsec or etrade and are yours showing up?
No, i'm up to the elbows in paperwork, one lot to be completed is to get all my DB stuff on CHESS (etrade?); all a bit delayed by having to entertain the doctors etc etc & losing work time. I'm happy to wait to next week for a possible trade, but actually want to hold on to most of them, probably about 6mths before seriously reconsidering. It looks quite a good medium term hold to me, but could be tempted to move away to other better things.
Today CXY got to 10c earlier, now 9.5 on good volume.

[drillfix]

Hey Sharer, nice day for CXY and very tempted to sell, but I see more than a quick profit on this one as time goes on.

I reckon the closer we get to Jan next year for the pilot burn the higher the price, even although now there are many more shares on issue which would be 270 million shares than CNX as an example.

[drillfix]

Came across this Sharer.

Looks like Cougar are upfront and hopefully sorting any potential issues prior to it back flipping which is great to see.

No doubt they have made "significant" progress with their site since they last previously announced progress. Or should I say, enough to have a meeting and Tour for the locals etc etc.

______________________________________
Tour aims to allay coal project fears
By Sam Burgess

Posted 3 hours 59 minutes ago

Map: Kingaroy 4610
Residents at Kingaroy in southern Queensland will today get to see Cougar Energy's underground coal gasification (UCG) project.

The company is opening the site for a guided tour in an effort to allay the public's fears about the project.

Cougar Energy spokesman John Henderson says after the tour there will be a presentation in the town hall.

"The second part of the meeting will be where the Cougar team will all be present, including our board, and it's our intention at the second part of the meeting to provide residents with factual and relevant information that should assist them to understand why we believe Cougar's UCG project is safe, beneficial and not harmful to people or the environment," he said.
_____________________________________

source:
http://www.abc.net.au/news/stories/2009/10/12/2711543.htm?section=business

Not sure how long the sp will continue to trade at the 9+c level but certainly not in Jan 2010 ;)

[sharer]

Thanks for the local news item Drillfix.
Today CXY is 9.8ish (9.5-10.0). They got a firm rap over the knuckles from asx for slack notifications re directors' interests in options etc.
So far everything seems to be going as engineers planned, including their other follow-on projects elsewhere. (Is it assumed these will be funded from income from Kingaroy, probably half a year+ away from free cashflow?)
At about +20% on recent large share issues obviously still a comfortable hold, plenty time to assess operations as initial ignition & testing gets underway.

Still, i'm glad they're not in my back yard. Just imagine, you're out there weeding the spuds, then suddenly your garden disappears & you're up to the neck in coal ash! :eek:

[drillfix]

including their other follow-on projects elsewhere. (Is it assumed these will be funded from income from Kingaroy, probably half a year+ away from free cashflow?)


Sharer, as taken from the SPP ann, they accepted some oversubscribed entitlements which gave them money. They then wrote in the ann:

__________________

The extra funds will be utilised for the benefit of all Cougar Energy shareholders, namely to accelerate the exploration drilling and development work at the Company’s second UCG project, at Wandoan. On 18 August 2009 Cougar Energy announced its initial JORC compliant resource at Wandoan of 341 million tonnes (34 million indicated and 307 million inferred), which far exceeded the Company’s expectations.

The funding will enable this expanded resource base in the highly sought-after Surat Basin tenements to be opened up for development some 6 to 9 months earlier than previously planned. The Company is modelling various syngas applications, including gas-to-liquids and chemical feedstock plants.
__________________

Sounds good to me and cant wait to hear more.


Still, i'm glad they're not in my back yard. Just imagine, you're out there weeding the spuds, then suddenly your garden disappears & you're up to the neck in coal ash! :eek:

LOL, dont think the ground is gonna cave in as such.

I think they are more worried about the Water Table of the surrounding land becoming compromised.

Now although they got the knuckle wrap, I hope they just keep the news coming, along with updated PR on what happened at the meeting with locals.

As you say, SPP offload to market is holding up quite well. Cant wait till we are past the 13c mark which should come with good news that should battle its way through without too much difficulty as there is now more reason for good news to flow through IMO.

[drillfix]

Another good announcement out today and with lots of details or good basic eduction for the retail type of investor. Kinda like UCG and Geology 101, which also shows good PR for the Kingaroy locals and anyone interested in the operation and the company etc.

http://imagesignal.comsec.com.au/asxdata/20091019/pdf/00999614.pdf

[drillfix]

Hi folks,

Been a long time this little doggy has sat quite taking a pounding and travels sideways for some time.

BUT, with their Pilot plant burn coming up I think its itching its way up.

No huge significant volumes to boast about, but a little breakout of its triangle.

Take a peek and let us know what you think, False breakout, or ready to Rock in another week or two? I think its preparing to rock due to that long period of consolidation.

Chart as mentioned.
http://i47.tinypic.com/10hmyhf.gif


ps: Im no great chartist with what current tools, but here are the basics which is good enough for me.

[sharer]

Hi folks,
Been a long time this little doggy has sat quite taking a pounding and travels sideways for some time.
BUT, with their Pilot plant burn coming up I think its itching its way up.
No huge significant volumes to boast about, but a little breakout of its triangle.
Take a peek and let us know what you think, False breakout, or ready to Rock in another week or two? I think its preparing to rock due to that long period of consolidation.

Chart as mentioned.
http://i47.tinypic.com/10hmyhf.gif

ps: Im no great chartist with what current tools, but here are the basics which is good enough for me.

Thanks for chart Drillfix. I'm still with you on this. It has been a bit ominous as price sank to SPP & drifted sideways for so long; maybe folks thought nothing was happening, but the plant build-out seems to have gone without a hitch so far. Rising sp in past 3 sessions might just be due to a few optimists returning from holidays - i'm not persuaded of much technically on such low volumes. But of course hoping you are right about imminent take-off!
I'm still happy to hold thru pilot burn & early analysis in next 6-10 weeks or so.
All the best for 2010 !

[drillfix]

Cheers Sharer,

I am getting to the end of my tether on this one, I have sold some down, even sold out and also bought back.

But as the chart shows, its some sort of breakout, but that is meaning less without Volume and upward price movement.

[drillfix]

Hey sharer, is that you buying them up? :D

Seem to be inching up slightly, little by little, day by day.

Really looking to see what the news of the Pilot burn will do to the SP as I imagine the Co will get great exposure into the media, markets.

The QLD government also be keeping an eye on the developments to its project as its keen as to have this sort of energy put to use, which will probably do them a favour too as it makes them "seen" to be heading along the green pasture.

[sharer]

Hey sharer, is that you buying them up? :D
Seem to be inching up slightly, little by little, day by day.

Not guilty! (or, not very).


Really looking to see what the news of the Pilot burn will do to the SP as I imagine the Co will get great exposure into the media, markets.
Maybe sp gets back to that 13c or so you were looking for a while back.

Do you understand exactly what the Pilot Burn looks like?
I can understand the basic idea, analysing the gas produced etc.
But how do they limit the extent of the conflagration? Sounds dramatic.
Do they choke it off while the chemists get busy afterwards?
What if it gets away on them, & they have to keep going?
Whee!

[drillfix]

Not guilty! (or, not very).


Maybe sp gets back to that 13c or so you were looking for a while back.

Do you understand exactly what the Pilot Burn looks like?
I can understand the basic idea, analysing the gas produced etc.
But how do they limit the extent of the conflagration? Sounds dramatic.
Do they choke it off while the chemists get busy afterwards?
What if it gets away on them, & they have to keep going?
Whee!


Sharer, Kingaroy is only a couple hours drive approx from where I live, I may even go for a look and check it out once they announce the date of it.

My only knowledge of this is with the likes of CNX and a knowing about a couple of other Co's that earlier in the piece whom also did pilots.

Don't worry too much about Len not knowing what he is doing when it comes to doing this, I am confident in his abilities and knowledge.

What concerns me, is the marketing department knowing and timing their duties down the the specifics of "excellent PR".

[sharer]

More interesting background reading (in lead up to test firing soon):

http://www.internationalresourcejournal.com/resource_in_action/january_10/cougar_energ_y.html

[drillfix]

Hi Sharer,

I am anticipating a run on CXY by or either close to the end of the month or early at the beginning of Feb, I mean surely.

Lets see how good the cougar PR machine is when the KR test burn comes into play.

[sharer]

... I am anticipating a run on CXY by or either close to the end of the month or early at the beginning of Feb, I mean surely.
Lets see how good the cougar PR machine is when the KR test burn comes into play.

Hope you're right Drillfix. It just might possibly have started already, or maybe just signs of a few eager watchers getting twitchy at the gate.
Noticed slight increase in volume recently, with uppish sp 0.1c steps away from bedrock of recent SPP. By Oz noon up 3.3% @ 9.3.

[sharer]

Volumes got to ~ 2.5m/d, then sagging a bit last 2 days. Price resistance @ 9.4, keeps falling back, now closing @ 9.1 . Looks like attempted run is out of puff?

[drillfix]

Volumes got to ~ 2.5m/d, then sagging a bit last 2 days. Price resistance @ 9.4, keeps falling back, now closing @ 9.1 . Looks like attempted run is out of puff?

Its ok sharer, just folks nervous with market conditions.

Should the market gods come out with sunshine for all and then CXY brings the news then this should rock.

From near no volume to some is something, but its nothing with out more volume and this is just a start to an upcoming run IMO.

I look forward to it breaking 13c on the news, if it cannot do that then I think I will call it the day with CXY as it has already had enough attempts and more will mean a fall, which means even bigger eventual dilution over a given period of time.

As you know though, time tells all~!

[pago]

Its ok sharer, just folks nervous with market conditions.

Should the market gods come out with sunshine for all and then CXY brings the news then this should rock.

From near no volume to some is something, but its nothing with out more volume and this is just a start to an upcoming run IMO.

I look forward to it breaking 13c on the news, if it cannot do that then I think I will call it the day with CXY as it has already had enough attempts and more will mean a fall, which means even bigger eventual dilution over a given period of time.

As you know though, time tells all~!

hi drilly,do you still hold any cxy,hit 15c today,chart looks good.risk/reward?depends highly on the success/otherwise of the underground ignition,a bit like an oiler drill spud for a big target,and then the wait after for results.i am sure this project will be closely watched by majors,hit or miss?cheers pago

[drillfix]

hi drilly,do you still hold any cxy,hit 15c today,chart looks good.risk/reward?depends highly on the success/otherwise of the underground ignition,a bit like an oiler drill spud for a big target,and then the wait after for results.i am sure this project will be closely watched by majors,hit or miss?cheers pago

Hi Pago, No mate, stupid me was swing trading the stock whilst waiting for something to happen and got caught out.

Yes it is on the radar of many traders/investors/insto's just waiting for that news.

Was a bit worried there as we have had some pretty severe flooding here in QLD on quite a few fronts. Im not sure how this will affect CXY though.

On HC I read there is a guy whom is up there and drives out to the site to see if he can see the flame, but no luck as yet.

I find if there are any announcement of delays whatsoever then this will come back to 11c - + pretty quick.

Ain't it funny how the long term holders and knowledgeable posters there on the CXY thread remain cool, but now there are RAMPERS galore which is start to become sickening.

I am pleased there is good movement for CXY, but now it looks like this will be only a swing trade for me, even after the flame is lit.

[drillfix]

Pago, the other thing I was forgot to add was, that if the price keeps going up the way it does, without any news, without any flame.

Then by the time it does come off there may eve be a sell off as I would put a target of around 24c on the stock, not much up from there, unless of course you have all these Hot Copper idiots ramping the stock to death by saying its potentially worth $5.00 and cr@p like that.

[pago]

Pago, the other thing I was forgot to add was, that if the price keeps going up the way it does, without any news, without any flame.

Then by the time it does come off there may eve be a sell off as I would put a target of around 24c on the stock, not much up from there, unless of course you have all these Hot Copper idiots ramping the stock to death by saying its potentially worth $5.00 and cr@p like that.

hi drilly,thanks for your comment,appreciated,24c would please me.my comment would be ,if cxy prove up this tech,it will be a significant move which could change the investing of some of the majors.im not saying it will impact on the csg oz export projects,but within oz,yes ,and in others.for now its hit or miss but with some probability.if cxy mess up now,have the stoploss in place,cheers pago

[drillfix]

hi drilly,thanks for your comment,appreciated,24c would please me.

if cxy mess up now,have the stoploss in place,cheers pago

Hi pago, 24c is a previous and current major horizontal resistance as is 15.5c oblique resistance.

Good to hear you have a stop set, many folks just watch something go up and still hold watching it go back down should the case ever arise.

Again, and I am not trying to come across as bagging the stock because I missed the boat, (as I dont believe in missing the boat no longer, just catching them for short trips actually) but again with all the water there is in Qld, I wouldn't be surprised one bit if they announced that there will be a slight delay. Now having watched what happened to CNX recently with their delay seemed to cost them dearly with a big sell off. Primarily there seems to be much Coat Tail riding atm so CNX has bounced back due to the AOE offers as you probably know.

Good on ya and good luck, may even jump in for a swing at some stage, but here is hoping all goes well.

[drillfix]

Pago, just letting you know I took a small position again in CXY @ 15c

Before midday there has been double the volume and the price is 6.9% up, and should it finish 10% up then something explosive will happen soon and you will have your 24c before the end of the month (or even next week news pending). IMO

ps: although a stack of resistance @ 15.5 - 16c once past 16c, I think you will see this rapidly run.
(but yeah as if it hasn't run hard arleady right. lol)
(Looking very oversold but who knows how long it can stay that way)

[sharer]

Here's a wee pix & short interview with the good Dr, to get right up to date ...
Seems K-ignition still described as "within next 2 weeks probably, we'll be letting you know". He'd be good on the Poker team :)
Meanwhile at about 1430 aetime CXY are still banging away at 15.5c, vol 13.5m.
Buyers exceed Sellers, balancing out about 11c bid, which i think supports Drillfix's guestimate above.
But things will change quickly during next 2 weeks - i just don't know how :)

brr.com.au/event/64643

[sharer]

I should have mentioned CXY announced key details today about their new JV coming up in Victoria. Of interest obviously in several ways, including new fundraising question. On that there may be some clues in above interview, near the end.

[drillfix]

Hi Sharer, good to see ya again.

Pretty weak finish for CXY, technically not a good sign.

As Len mentioned on brr talk, approx 2 weeks before the burn. Meanwhile I guess there is nothing else to do but wait.

Here is a chart.

http://i42.tinypic.com/2nve782.png

Plenty of volume to suit accordingly, but starting to look on the overbought side. 2 weeks in the market at times can feel like a life time depending on what way the XAO and sectors are going.

Here's hoping cougar are sticking to their timetables, otherwise it becomes a victim of itself.

[sharer]

Thanks for the pix Drillfix. Agree your comment so far.
Tomorrow is another day ...:)

[drillfix]

Hi Sharer,

Mate, I got out on open for the same price as my entry, 15c

It looked weak on open, as did it on close yesterday, so I thought may as well get out for the short term and maybe re-enter once the party is about to start again.

Briefly, the should be one more down cycle prior to the next leg up. Only speculating of course, who know, may miss the boat again, something which I have already done previously.

ps: looks like this will test 12c in the short term (fri-tues)

[sharer]

... ps: looks like this will test 12c in the short term (fri-tues)
Thanks for the hint. Profits need to invest aomewhere so we'll be watching ...

[drillfix]

Thanks for the hint. Profits need to invest aomewhere so we'll be watching ...

Maybe not Gospel such a call there Sharer, but the overall market seems a bit over extended and may need to take a breather as its gasping for breath so it seems.

There is some trading going on however with many other stocks, but I think at some stage we will find that drawn to and end as well.

I think XAO needs a bit of Red just to ground itself. Bad timing of course, but better to get it out of the way so we can enjoy a better ride the next leg up.

Cheers.

[pago]

Hi Sharer,

Mate, I got out on open for the same price as my entry, 15c

It looked weak on open, as did it on close yesterday, so I thought may as well get out for the short term and maybe re-enter once the party is about to start again.

Briefly, the should be one more down cycle prior to the next leg up. Only speculating of course, who know, may miss the boat again, something which I have already done previously.

ps: looks like this will test 12c in the short term (fri-tues)

hi drilly ,good move,i have to say,i struggle with your investment strategy,i understand you are using ta for breakouts/trend but there is another view,it is first mover advantage.cxy has increased some 50% in 2 weeks.a fall back is expected,we all await the ignition.i prefer to buy a stock when it is cheap/oversold so i have a margin of safety and if i have the fa right the % multiply.have you back tested the breakout strategy?drilly just my opinion,cheers pago

[drillfix]

Hi Pago,
Your right about everyone has their own strategy, mine is unfortunately atm due to my circumstances, which I cant really get into too much right now, but it does affect my approach.

I use TA for breakouts or pullbacks, and sometimes its just a visual thing, when I see a stock in front of my eyes turning on me, Im simply not going to hang around. For a moment, it looked like cougar was going to keep going, but suddenly the numbers changed, more sellers piling up and buyers running away. To me that means jump, as I need that money somewhere else.

Originally I was in cxy prior to the sp, then took, out of some from the sp. Again, due to my circumstances, I cant have funds sitting there idle. As I done a few successful trades it maybe has cost me due to it building up and got away whilst some funds where elsewhere.

As for back testing, for this particular stock I feel no need. I am using another platform and getting used to a whole bunch of things, including using the back tester it offers, but currently still learning a whole bunch of stuff, tools, scans, indicators, and lots of other experimentation.

Sometimes it tricky keeping an eye on live markets whilst also doing other a variety of other tasks, including posting on here. The aim of the game is making money sure, but for me, its also learning (technically) as previously it had been the fundamentals that had burned me.

Back to CXY, will visit again soon and maybe hold on a bit longer next time hey :)

[sharer]

CXY has successfully reached ingition stage at Kingaroy, & has syngas now flowing thru their plant thru to the flare.
Here's a brief radio clip[ with all the relevant guff to date ...
brr.com.au/event/64751

In the run up to ignition s.p. had strong resistance @ 15.5, sagged a bit in the few days before the flare was lit last night, but still with high volumes. Currently @ 14c.
Cheers to all UCG enthusiasts (bearing in mind it could be about 3 years or more before this project is fully on stream).

[sharer]

Today @ 11.5c, as predicted on this thread a long way back by Drillfix.
His candles help him to see thru the dark i guess ... ;)

[drillfix]

Today @ 11.5c, as predicted on this thread a long way back by Drillfix.
His candles help him to see thru the dark i guess ... ;)

Hi Sharer,

I think I said 11c, but what the heck hey. Support holding at 11.5 but I believe it will test 10.5c again as 12c intermediate support has been broken.

Thinking about it, the burn has been done, more news will flow through, but I dont believe some major holders want to have too much exposure while the wait for news takes place.

I have had orders in previously at 13c, 11.5c, but have pulled them, and lowered it to 10.5c accordingly as I believe that will also become tested over the next day or two.

Hope some folks have taken a few profits ready for re-entry, else it would be a shame to see this float back under 10c, thats for sure.

[yogi-in-oz]

CXY ... updated astroanalysis ... 22112010

:)

Hi folks,

CXY .... we will be monitoring a rash of positive time
cycles, from the end of February-to-mid-April 2011.

While the end of Feb 2011 may bring some big, explosive and
negative news for the general market, we will be alert for
some major and positive news from CXY, about that same time ..... :)

More later.

have a great day

paul

:)

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