NGE, New Guinea Energy

[Crypto Crude]

tonight I wrote a pretty indepth post on hotcopper...

Seems that my timelines are wrong...
But, we still hold world class permits, and the permits are held by a junior...

today the announcement of our new CEO brings about a new era... what a catch

more drilling around the corner

Im going to sit on this one...
:cool:
.^sc

[Crypto Crude]

This is the week..
Siphon-1 results will come...

Stanley-2 discovered a new reservoir which is 10km's away from Siphon (on trend)... both are targeting the same sandstone...

230 BCF target and 7 MMBC,
yummy...

The market has had very little support for the drilling of Siphon with a continued falling share price...looks like good upside, with no downside (for a few month hold bar market risk), to the shareprice as the next round of drilling rolling out 4th quarter...

20 Billion US dollar LNG project in our back yard...
Theres our long term growth at our feet...
billion dollar permits...
will be...
:cool:
.^sc

[Crypto Crude]

looks like we are close to eyeing up a future producer...
We have indications of liquids, strong gas readings, definetaly compared to nearly successes...

With plenty of condensate and gas in our permit...
should be a hit...

The target sandstone is about 30meters deeper than pre estimates...
enough to keep the market on edge..

The market hates NGE, and fair enough I guess...
future market darling...

:cool:
.^sc

[bermuda]

looks like we are close to eyeing up a future producer...
We have indications of liquids, strong gas readings, definetaly compared to nearly successes...

With plenty of condensate and gas in our permit...
should be a hit...

The target sandstone is about 30meters deeper than pre estimates...
enough to keep the market on edge..

The market hates NGE, and fair enough I guess...
future market darling...

:cool:
.^sc
Shrewdy,
The boys at the Perth conference reckon this one is the big one but for me I will stick to Aussie and USA areas. Good luck. Could be a game changer but I will stick to NWE for that. See you in October.

[Crypto Crude]

Tomorrow morning is the moment... we will know the outcome...
the results of this well will only delay or speed up the inevitable outcome im predicting...

Things have been going real well for me, im hoping tomorrow will continue on from that...
Strong signals since the spudding of siphon...
yummy yummy yummy ive got love in my tummy...
:cool:
.^sc

[patrick]

S C
Your comment on the recent news release please for a fellow holder.

[Joshuatree]

Methinks far too early to tel,lotsa testing to do and target depth 3975m not reached yet 112m to go maybe. 11 and 12 metres hydrocarbon show. Shareprice down 1c 2million sold. Buy the news sell the fact ,crazy people..

[Crypto Crude]

just got in to read the annoucement...
Sands alittle on the thin side,
Too early to say if the well is uneconomic, but seems to be heading that way... Nothing of major detail in the announcement like condensate or not, flow testing, follow up appraisal well, pressure measurements......

so its not over yet...
market thinks it is...

Some Other successful wells in the vacinity have similar sand thicknesses....
Wireline logging results will be interesting and with a possible appraisal well, looks oversold......

maybe the outcome could be, siphon uneconomic as a standalone project, but with a few more development wells siphon 2-3-4 could draw a nice company earner...(like stanley)....
the wells are cheap to drill... could be a nice 100 BCF with major infrastructure moving in over the coming years.... so perhaps a plug and wait.....


as I said, the outcome of this well will only delay or speed up the inevitable future outcome of NGE...
and that is at least one, one billion dollar permit...
encouraging start....

:cool:
.^sc

[bermuda]

just got in to read the annoucement...
Sands alittle on the thin side,
Too early to say if the well is uneconomic, but seems to be heading that way... Nothing of major detail in the announcement like condensate or not, flow testing, follow up appraisal well, pressure measurements......

so its not over yet...
market thinks it is...

Some Other successful wells in the vacinity have similar sand thicknesses....
Wireline logging results will be interesting and with a possible appraisal well, looks oversold......

maybe the outcome could be, siphon uneconomic as a standalone project, but with a few more development wells siphon 2-3-4 could draw a nice company earner...(like stanley)....
the wells are cheap to drill... could be a nice 100 BCF with major infrastructure moving in over the coming years.... so perhaps a plug and wait.....


as I said, the outcome of this well will only delay or speed up the inevitable future outcome of NGE...
and that is at least one, one billion dollar permit...
encouraging start....

:cool:
.^sc

Shrewdy,
The market sure doesn't like it. Down today from 14 cents to 9.6 cents.
I don't know about these wells being cheap. Sometimes they need a chopper to get access. NGE could have something here but the daytraders think not.
Good luck. See you soon.

[skid]

Looking at the 1 month chart is a pretty good argument for selling just before the announcement you were talking about in the cue thread sc--its tough out there

[gazprom1]

Ugly for NGE today. Result was not good. 14 cents down to 5.5 cents. Current market conditins are not helping either. I have no idea at waht point it represents good buying?? Does anybody know NGEs cash postion?

HZN has slipped on the back of the NGE news as it has acreage handy. Have not yet purchased any HZN but am tempted today.

Gazprom

Discl: do not hold.

[drillfix]

Hi Gaz,

Drawing a Fib line over today's fall would show:

76.4% = 6.2c
61.8% = 6.8c
50.0% = 7.3c
38.2% = 7.9c
23.6% = 8.5c

Those levels are from the High of 9.5c and Low of 5.2c

Buying/Selling right now represents a possible close of the nearest which would either be 6.2c or depending no higher than 50%.

Its a tough cookie market alright and from where I am sitting there are many attractive cookie Jars out there but still far too Hot too touch without potentially burning your hands.

[trackers]

Fib...onacci? I guess now that Phaedrus isn't around its ok to talk about magic numbers again

[drillfix]

Fib...onacci? I guess now that Phaedrus isn't around its ok to talk about magic numbers again

LOL Trackers,

I never knew Mr. P did not believe or support Mr. FIB, did he?

Previously I used to post a stack of intraday Fibs or other Fib numbers on charts and heard no protest from him about that, so you got me wondering.

But then, previously, I have been Exact to the Point of 0.001c when calling my closes at times, so why would anybody call it magic or whatever?

Wish I started to take my own advice and bought a few now while price was in the 5.7 when I posted. Dohh~! :P

[trackers]

Just gentle ribbing Drilly... Interesting read here though:

http://www.sharetrader.co.nz/showthread.php?6114-Dow&p=300243&highlight=fibonacci#post300243

I see fibs are a pretty common tool used over at HC

[drillfix]

Just gentle ribbing Drilly... Interesting read here though:

http://www.sharetrader.co.nz/showthread.php?6114-Dow&p=300243&highlight=fibonacci#post300243

I see fibs are a pretty common tool used over at HC


Ahhh, yes that post. Well, what can one say, there is always exceptions and by Fib Numbers Mr. P was referring to indices. Which I Agree with up to a point. He is right about what he says and backs it, with regarding the Dow.

Yes Fibs are common everywhere and HC is nothing special or exclusive, its just many traders use them and like myself to give the probability of "where to" so to speak.

There are many applications, but again as Mr. P has previously pointed out (and it should be noted) that Index's are not the same as stocks for whatever reason. (or at least the dow as he has proven).

[drillfix]

In fact,

For all you IntraDay Traders out there, here is a intraday snapshot of NGE from IB.


NGE Intraday >>> http://www.imageurlhost.com/images/v3yom2sczi7hdkzj5h2_INtraDAY.png

[drillfix]

Ahh well, so much for Fibonacci's magic number today, just missed 6.2 close which doesn't matter anyway as anything below 50% close would or could be seen as negative.

For anybody else who wants a bit of another take on Fibonacci plus Nature by numbers then check this link out.


http://www.postnuclear.net/2010/06/fibonacci-and-nature-by-numbers/

[Corporate]

just got in to read the annoucement...
Sands alittle on the thin side,
Too early to say if the well is uneconomic, but seems to be heading that way... Nothing of major detail in the announcement like condensate or not, flow testing, follow up appraisal well, pressure measurements......

so its not over yet...
market thinks it is...

Some Other successful wells in the vacinity have similar sand thicknesses....
Wireline logging results will be interesting and with a possible appraisal well, looks oversold......

maybe the outcome could be, siphon uneconomic as a standalone project, but with a few more development wells siphon 2-3-4 could draw a nice company earner...(like stanley)....
the wells are cheap to drill... could be a nice 100 BCF with major infrastructure moving in over the coming years.... so perhaps a plug and wait.....


as I said, the outcome of this well will only delay or speed up the inevitable future outcome of NGE...
and that is at least one, one billion dollar permit...
encouraging start....

:cool:
.^sc

Shewdy, poor little NGE down in the dumps at the moment. I'd appreciate your thoughts on where to for NGE from here and also any ideas on their current funding capacity, including how much this dry well would have cost.

Market cap around $40m.

Cheers,
C

[Corporate]

Anyone with a view on NGE? Thinking of picking some up today.

[drillfix]

Yeah, I just missed getting an order filled and couldn't be bothered chasing.

Saying that, I also am looking at the MACD histogram divergence on the daily which seems to be setting up for a definite cross sometime soon. But it will take more than that to drive up price as it needs some solid committed buyers~!

[Corporate]

Yeah, I just missed getting an order filled and couldn't be bothered chasing.

Saying that, I also am looking at the MACD histogram divergence on the daily which seems to be setting up for a definite cross sometime soon. But it will take more than that to drive up price as it needs some solid committed buyers~!

I've taken a few at 5c. Low down side and medium/long term hold for me. Very low EV currently.

[drillfix]

I've taken a few at 5c. Low down side and medium/long term hold for me. Very low EV currently.

Me too Corp, I am now in with a small parcel so happy to hold at these levels.

Also like many charts, Plenty showing a turnaround to lots of options out there including this for the time being.

[Crypto Crude]

Shewdy, poor little NGE down in the dumps at the moment. I'd appreciate your thoughts on where to for NGE from here and also any ideas on their current funding capacity, including how much this dry well would have cost.

Market cap around $40m.

Cheers,
C

Hey hey corporate,
sorry about the late reply, its been a sick week... Weeee...
very happy...
Siphon cost $33Million US to drill... its at the higher end of costs for drilling in West Paupa...
The reason for the higher costs are for clearing rough terrain, trees, building roads, bridges etc... the other wells will be cheaper....
These are the sorts of wells to drill in this region because for a reasonably small outlay we open up so much upside...
Cost/Resource size has PNG a very attractive region to drill, along with all the other factors...

the july quarterly (I think) shows exploration expenditure of 13million representing an estimated 9million dollar US exposure to Siphon from NGE... by agreeing to fund this 9million US NGE can mainain its 50% interest in PPL269...
1st September NGE had 30million AUS cash reserves, of which 13 million comes from that for exploration and evaluation expenditures, and the other small expenditures like admin... interest earned 500k per quarter...
NGE also has Deposits at call of 36 million...(last quarterly)... this is from a 40 million dollar credit line from YA global...
NGE is flush with cash and deposits at call...

furthermore,
Various farmin agreements with Talisman have them drilling 6 wells over the next few years at a cost of 90million US...Remember that Talisman is the newest Major entrant into PNG and gearing up for expansions on PNGLNG (as well as the other major players) on an 18Billion US dollar project which in time will connect us up to this whole schkabang...

Things are very exciting with this stock over the next few years,
so long as NGE maintain and control these prized permits of PPL269, PPL 277, I will hold...

NGE were suppost to be drilling one more exploration well later this year early next year... Im not sure what will happen in the short term with the recent Siphon failure...

More to follow...
take care...
:cool:
.^sc

[Corporate]

Thanks SC. I can't see NGE going much lower, unless the whole market falls to bits. I wouldn't be supprised if it headed to 7.5c in the short term (50% gain from here).

[drillfix]

Thanks SC. I can't see NGE going much lower, unless the whole market falls to bits. I wouldn't be supprised if it headed to 7.5c in the short term (50% gain from here).



Well, it could test the 52 week lows and mabye move down a bit, but surely not that much further as the stock has shown signs of complete exhaustion and people wont sell regardless because they feel-know-suspect that it already has been over done, so the chances on that a Base start to form around this 5c level are quite high until NGE come out and announce their next card they will play which will take hold of speculators and traders who wish to get set early (again), and hence then cycle begins again. IMO.

[Corporate]

Well, it could test the 52 week lows and mabye move down a bit, but surely not that much further as the stock has shown signs of complete exhaustion and people wont sell regardless because they feel-know-suspect that it already has been over done, so the chances on that a Base start to form around this 5c level are quite high until NGE come out and announce their next card they will play which will take hold of speculators and traders who wish to get set early (again), and hence then cycle begins again. IMO.

Spot on DF. I think with no further bad news NGE could easily move up to 7.5c and still have a fair wack of cash, good permits and a low EV. The sell depth is pretty thin and I think most that would sell at 5c have.

[drillfix]

Yep 7c + seems easily achievable, actually I feel with any slight positive news issued by NGE this could easily see the stock back up to 9c to 10.5c easily, as there currently is only small parcels sitting in the way at present and then one large seller at 7c, but with news, there is not that much stock between 5c and 10c to get a hold of so whatever news does come, although the more volume the better.

I have another order in but may consider taking the small change.

The first stop or target I believe will be the 13ema on the daily chart sitting at 5.8c

[Corporate]

Looking at the depth..it isn't going to take must to get us to 5.8c

[drillfix]

Looking at the depth..it isn't going to take must to get us to 5.8c

Your not wrong Corp, hence exactly where the 13ema sits.

After it surpasses that, the next EMA sits at 9.1c

The MACD histogram and signal line is about to also cross. However, Phaedrus used to drum it into me that MACD on its own it not the most reliable indicator to use for trading, which I agree, but used with other indicators, such as RSI upward divergence, Williams%R and DMI shaping up, I am thinking the Probability is high for this trade.

Nice and slowly always does it as well, so hopefully not too many Hot Copperties jump on board and make a washing machine out of the thing.

Of course, all this is technical point of view. Yet I would be happy to post a Midday chart if anybody wants to see one.

Also following CEO atm as well with similar indication.

[J_Gold]

Drillfix and Corp... simple question... does the depth influence your decision making? (excluding the obvious need for liquidity)

For instance you are commenting on the thin sell side depth but point 1) people need to buy the stock to push the price up to 5.8c, and 2) what do you think normally happens to the buy side depth if a semi-sizeable market sell order comes in.
Should these not eliminate any importance of market depth? (again, except for liquidity)

I'm just trying to further my knowledge as my TA is a bit lacking, but does that mean that when you see thin sell side depth you are just betting on a few orders to push the price up and then bail out for a quick prof, with respect to NGE? And if so, Corp does this mean you have moved to the darkside (short-term)?

[drillfix]

J Gold, the dark side? lol yeah right.



but does that mean that when you see thin sell side depth you are just betting on a few orders to push the price up and then bail out for a quick prof, with respect to NGE?

No, not really J Gold, what you are saying here is that do we sell after we post and sound like we are ramping a stock? Well, answer = No

All the previous posts suggest is that in thought of any positive announcement from the company (NGE) then it would not take the stock very long (buyers) to chew up what volume that is there, hence the price could move rapidly on little volume.

I cannot speak for Corp as I dont know how he trades specs or midcaps, but I tend to prefer to take a small position and then add to it as it moves upward. As it moves upward, I will take some profit (also sell) and should price continue to rise, then I will buy in again, and if it turns on me I will sell and start the process over again.

Now that does not mean to say this happens (for me) on every stock, there are many times whereby I also view a stock, fancy a trade, take 1 position and just hold. All this is with regards to a Trading Account. I also have another account which is for long term (many months or years) where by if I buy stock using that account, I just buy and just leave it alone and dont even look at it every day, week etc etc.

There is no right or wrong way to trade as individually we must be accountable to our own actions.

Not all stocks are equal in trading as some actually have consistent movement or trade thousands of trades per day and price has a spread of 20c or 10c every day (or most days) but some of the specs will only have 20 to a couple of hundred trades, though in which case NGE has currently 96 trades on the board as I type with a volume of 435K which is not really much compared to other days.

Check out this site: http://www.tradingroom.com.au/apps/qt/quote.ac;jsessionid=5F55E5C670517C5B7E6C997A72633C 44?code=nge&section=pricehist&submit=Go%21

You can see what the routine volume usually is an this also can give you some indication into the stocks psychology to some degree.

Hope that helps.

ps:
Does depth influence decisions. Yes it does, as I like to believe, and feel, and KNOW that I can get out of a trade with my pants on if and when possible.

[J_Gold]

[QUOTE=drillfix;358593] what you are saying here is that do we sell after we post and sound like we are ramping a stock? Well, answer = No

No don't get me wrong Drillfix this was not what I was implying. I will try and re-word my question, I was asking if my understanding was correct that from a TA point of view that if there are relatively thin sell sides and if this was what the decision was made on then is the goal to wait for a few orders to increase the price, or is the goal was for an entire shift of the buy side and not just one or two trades.

I will continue reading you previous post I just thought I should clear that up. Cheers

[drillfix]

No worries J Gold, no offense taken~!

[Corporate]

J, definitely not on the dark side :) its more of a grey area.

I look at the sell depth as a guide to how quickly the share is likely to move and how much affect a positive announcement will have. I prefer to be on the winning side of an investment early

[J_Gold]

Haha as do we all corp as do well all.

[drillfix]

J, definitely not on the dark side :) its more of a grey area.

I look at the sell depth as a guide to how quickly the share is likely to move and how much affect a positive announcement will have. I prefer to be on the winning side of an investment early

Absolutely there Corp.

So what if KAR is also on a roll, at the end of the day, I feel you will are more likely to double your money in NGE than in KAR as it presently stands.

So back to right or wrong, there is none, its just seeing what is, in the moment and taking opportunities while they present themselves.

So far you must be near up 20% on NGE anyway. Your payday wont be that far away.

Good trading Corp.

add:
Well, looks like 5.8c was an easy target achieved.

Technically, looking at the charts I feel 9c should be on the cards looking at the next EMA on my chart, plus the 60 minute chart is rounding upward nicely, and on the daily price has now hooked just above the 13ema which could be the start as the MACD signal line and histogram get ready to turn positive, hence a run is preparing to launch. Even though daily increments are also fine.

[J_Gold]

Agreed that NGE is more likely to double. But you can say that about every single small cap. They are either going somewhere or are going to SH*T themselves.

A biggish order just jumped on your fella's side. And yea you can't say that 20% is a bad thing. Goodstuff.

[Corporate]

DF, what's your trading plan on NGE. I'm happy to hold medium term and watch it creep up. Currently I'd look to exit on a fundament basis at about 10-12c

[Crypto Crude]

lol corp...
10-12c...
profit taking of fundamentals... :cool:

[Corporate]

lol corp...
10-12c...
profit taking of fundamentals... :cool:

I should have qualified that with "on current news"

[drillfix]

Corp, no master strategy here. just buy dips and take profits.

Slightly nervous now about some slight negative divergence on the MACD histogram on the 60 min chart.

Also the 3 Million seller at 6.5c seems to have put a dampener on the party.

[soulman]

I am out too. That seller got me out. Now, they are sitting at 6.1 Drill.

[drillfix]

I am out too. That seller got me out. Now, they are sitting at 6.1 Drill.

Well, a large seller can have this effect on many soulman.

A little disappointed that price never made it up to 7c + but these things happen more than not so if they have that volume and start moving the price downward then no doubt they will continue.

As always time will tell.

[drillfix]

Seems Mr. Largeparcel seller coming down the ladder slowly.

What sux about this is, if he decides to exit, not only does your order at 5.5c get filled, but so does your order at 5c lol

Of course, only should the large seller decide to dump.

[drillfix]

Bit of pressure on NGE today, although not much volume and the seller at 6c obviously not wanting to drop down so smaller players or parcels now exiting.

I think 5c could be a floor again however anybody know when some possible news may come from NGE?

[Corporate]

Fellas, looks like that large sell order has been taken out.

[drillfix]

Is that you Corp, giving the sellers a wakeup call? LOL

Will wait to see near EOD.

[Corporate]

DF, haha I wish I was swinging that kind of line. Someday.

The buy depth looks very strong now. Still holding?

[drillfix]

Hi Corp,

Nope not holding at present, have had orders into to buy again but never got them filled. Slowly raising my bid, as I really dont want to chase, plus keeping an eye on charts.

Once the setup is right I am sure we will revisit what was said before prior to the large seller making an appearance, however no doubt that seller was either exiting or just reducing exposure.

[Corporate]

The quarterly report did not inspire any comfort that NGE meets my long term investment criteria and I've sold.

[bung5]

Shrewd/ corporate/ drillfix - are you still up to date with this stock? Do the drills coming up next year have much potential and when do you think the next capital raising will be?

[drillfix]

Bung, I cannot really comment on whats is going on with NGE, it was a short term hold/trade for me previously.

Not sure exactly where the floor on this one is as there still is a Large seller wanting to exit even at 4.5c with 1.4 Million shares etc so caution with, when, and where you buy, IMO.

[Corporate]

Bung, I got out because the quarterly report did not inspire any confidence. NGE has a huge land holdings but terrible management. Others believe that you just "land bank" but I'm not one of them.

I can't comment on the drills next year.

[Crypto Crude]

well why did you get in in the first place,
its still the same story corporate...

NGE is still the most leveraged oiler in PNG,
what a wonderful region,

we have at least been drilling wells, and will continue to do so in the future...
this has hardly been land banking...
Wish it was,
cos now we have the consequences of funding the failures of an expansive path to glory...
The glory is still in these permits and the region...


:cool:
.^sc

[Corporate]

SC I never had much of a connection with NGE, and I understand that you do. I bought a small holding of 110,000 shares to force myself to do some research and figured that 5c was a relatively safe entry. I was lucky to have sold before the recent market pressure.

I was surprised at how much the recent well cost NGE, and that cash was likely to be down to $13m at the end of the year. The more I researched the more I realised I wasn't interested in holding NGE in an uncertain market (at the market valuation of $50m@6c). Mainly because I think there is a risk that management may raise cash in the near term, significantly diluting holders. Given this view I felt 5.7c was about fair value and sold .

I may look to get in again at 4c if it gets that low.

[bung5]

Cheers guys. Was looking at around 4.1 but with the cost of drilling , a capital raising is putting me off a bit.

[STRAT]

The NGE chart is a grim picture. Anyone entering right now needs to be wearing steel mesh gloves so now is the time to watch close if the FA takes your fancy I reckon.

Things to be taking into account are world markets conditions.
Time lines to possible re-rating events
Chart signals
and that FA stuff.:D

[Corporate]

If anyone wants to load up at 4c here is the chance!

[Corporate]

Anyone buying at these prices. Funny games being played with the depth today..

[drillfix]

If anyone wants to load up at 4c here is the chance!


Yes indeed and the opportunity was there, anybody take the 4c entry?

No doubt you would be happy today with a quick profit there for the taking.

What about this news they have stated, somebody has shown an interest to buy their leases? Will this cash NGE up again?

[Crypto Crude]

I am not keen to speculate what is to come, but perhaps this is the beginning of the end with multiple approaches... Our 35million market cap is worth 10 times more...
:cool:
.^sc

[drillfix]

Well, I am in for a small position SC. (4.8c)

As horrific as things may have been for NGE, the technicals say to me "hey why not take a small position and cash in on any up move continuation" that has already happened.

I would have bought at 4c but seemed like a gamble than a trade when a 2 million seller lurked just above 4c.

This is the 1st break of the daily 13ema and should if offer another day above that, I will add to my position as or if the stock continues its moves up. ;)


Chart as follows:

NGE intraday & daily >> http://www.imageurlhost.com/images/s9q3vxic0l4kta13u8nt_NGEintraday.png


If I were to set a target I would say it would be 1st up @ the daily 60 EMA line which resides @ 6c should things continue as it currently seems~!

[drillfix]

Now closed my small position on NGE for a quick small profit whilst it was there to be had.

May look at re-entering again once the 60 min MACD neg divergence turns positive.

[soulman]

Well done Drill. I missed NGE yesterday or today as a matter a fact. A 10% ride intra-day is always nice in any environment.

Seems to be off steam at closed. The same with LNC.

[ELYOB]

A lot of bigger companies dont like this ..... I wonder why ? Look at the way they conduct themselves and the changes happened over time . Bad attitude in the oil patch dont help!

[drillfix]

ELYOB, not sure exactly what you mean, as in "dont like this". Like what? Has something happened we dont know of?

[Corporate]

Shrewdie, what's your plan with NGE. Still holding, along with NWE and CUE?

I've locked in my medium term portfolio. Three gas, one gold, and the other a mixture of Iron ore, coal and lithium.

Good luck mate.

[Crypto Crude]

hey corporate,

Holding no CUE...
loaded up on NWE...
and hold little NGE...
prolly 90% NWE-10%NGE
last weeks announcement for NGE reads super strong considering the market cap... might have a nibble...
:cool:
.^sc

[Waiuta]

Starting to see a bit of traction here, I wonder who knows what? Maybe a scramble for PNG access?

[STRAT]

Starting to see a bit of traction here, I wonder who knows what? Maybe a scramble for PNG access?Good spotting Waiuta.
Nice breakout.

[Waiuta]

Talisman and Mitsubishi Announce Strategic Joint Venture

[Corporate]

I bought 200,000 NGE this week to hide away until the end of 2012. There is just so much going on in PNG that NGE should re-rate to 10c (100m market cap) once they start drilling later in the year.

A recent announcement highlighted the value of NGE share of permits 268 and 269 as $77m, add $25m cash, other permits, drill rig, potential royalty and production licence payment at PRL 277, you get $100m+ compared to a market cap of $46m.

[ELYOB]

I wouldn't touch NGE till after the elections in mid year . PNG is a basket case atm , you have no idea what is going down with the cannibals there . Oil Search is very concerned . PNG is a laugh amonst the oil patch , it has degenerated back to behaviour like in the Congo! None of this latest news seems to get out to the world as companies dont want to tarnish their image , and obviously the SP......there is risk here .....do you wonder why nothing seems to happen with NGE .

[Crypto Crude]

ppfffttttt

No, NGE is not the laugh of the oil patch...
You are....


you are funny elyob...
Oil Search is so concerned that it share prices heads to $7, on a path to 20 dollars...
get real...

I am not denying that NGE management is poor...
that they drilled wells not to plan... that they risked alot for us shareholders stupidly, but we still retain these key permits...

that I have been wrong with time scales... (way off)...

but things are churning away very slowly leading into PNGLNG production...
just read about Mitisubishi...
and the importance of NGE's key permits are yet to be realised...
"remembering that The Company possesses six onshore licences encompassing 44,800 km2 which represents one of the last available highly prospective, onshore, non-aligned acreage
positions in SE Asia"


im now sitting on >90% NWE TTEO and <10% NGE
and very happy...
I should be averaging down, but I do not know when NGE runs, so im going to go against your advice and continue buying shale gas stocks...
:cool:
.^sc

[bermuda]

Shrewdy,
I saw NGE at the O&G. I got you one of their hats. They have a huge potential but Elyob has raised some good points. After getting burnt in the Asian market yeas ago I now restrict my investment to companies operating in the USA, Australia and New Zealand only.

[Corporate]

Bermuda thanks for your post. re investing outside of Australia, nz and the USA....I thought I read that you'd bought nxr? don't they operate in Africa?

how you are having a great weekend.

love this game

[bermuda]

Bermuda thanks for your post. re investing outside of Australia, nz and the USA....I thought I read that you'd bought nxr? don't they operate in Africa?

how you are having a great weekend.

love this game

Corporate,
You have got me there!! Two exceptions to my rule.
1. NXR This is my first non energy play for yonks. It does actually operate in West Australia as well. Jennym put me onto it. She knows her stuff.
2. NEN Core profitable business in USA but blue sky stuff in offshore Vietnam.

My portfolio has ballooned out to 17 stocks. A big cull is needed.

[drillfix]

Gebeers ah Creebers!

Is this real?
=================
"The Company proposes to offer up to 200 million new Shares to professional and sophisticated investors at a price at least 80% of the average market price calculated over the last 5 days before the day on which the issue is made. "
=================

NBo wonder the sp will become destroyed.

Corp not the best timing to be in this stock.

How typical with rich mates always scooping up the cheapies and the whole game starts again.

Not holding, but urge caution if the above is what this company does!

ps: Back to 4c? Maybe over the next week or two!

[Corporate]

Maybe not, but everything is taking a beating at the moment! Sea of red.



Gebeers ah Creebers!

Is this real?
=================
"The Company proposes to offer up to 200 million new Shares to professional and sophisticated investors at a price at least 80% of the average market price calculated over the last 5 days before the day on which the issue is made. "
=================

NBo wonder the sp will become destroyed.

Corp not the best timing to be in this stock.

How typical with rich mates always scooping up the cheapies and the whole game starts again.

Not holding, but urge caution if the above is what this company does!

ps: Back to 4c? Maybe over the next week or two!

[seaosh]

It's for real all right. Comes from the AGM proxy form.

You would think that shareholders sitting on massive losses would at least be offered a chance to participate in a capital raising.

I wasn't particularly impressed either by their sale of PPL 277. Seem to have released no details on what royalty they retained either. Anyone know the answer to this?

[Corporate]

OSH have hit a gas column of 650 metres!!!! Right next door to NGE permit 269

http://www.asx.com.au/asxpdf/20120419/pdf/425q88vyy2z84m.pdf

[Corporate]

OSH have hit a gas column of 650 metres!!!! Right next door to NGE permit 269

http://www.asx.com.au/asxpdf/20120419/pdf/425q88vyy2z84m.pdf

Up 29% today and still now only a $57m market cap company.

What I said earlier still holds true....



I bought 200,000 NGE this week to hide away until the end of 2012. There is just so much going on in PNG that NGE should re-rate to 10c (100m market cap) once they start drilling later in the year.

A recent announcement highlighted the value of NGE share of permits 268 and 269 as $77m, add $25m cash, other permits, drill rig, potential royalty and production licence payment at PRL 277, you get $100m+ compared to a market cap of $46m.

[soulman]

Well done Corp....good to see a run like this.

[skid]

20 million new [cheap]shares to professional and sophisticated investors [not us]is that patronizing or what? So now that they know they are sitting right next door to a gas find,they are offering cheap shares to their sophisticated mates--Im happy for all the [normal] investors who have gotten a bit of a lift from this situation,but the management has a bad smell to it

[Crypto Crude]

NGE has been my worst performing investment of all time... but, TTEO would be my biggest loss of all time... I am extremely happy I got out of that before expiry....
but I have kept NGE for sentimental value as selling the stock now would hardly cover the worth of brokerage...
I would describe nge as being 1% of me...
a few years back it was double digits of me....
I am extremely proud of how I have held back from adding to my holdings as the company has fallen away......

PPL277 I would describe as my top permits/investment of all time... along with Roma... ... The sale of this permit to exxon and oil search is a huge blow as massive and certain leads are full of gas... and the suitors know it...
and the pure size of that block is like 10 blocks backing onto PNG LNG ... the dream...

the crown jewel of my NGE is lost...
NGE will be remembered as the company that had it, but couldn't hold onto it...
BUT, The gig is not up...

Theres something more in this... and the funds recieved, and royalty over the permit still holds a sort the leverage we can materialise while conitnuing to grow and maintain the company in other permits....

all the best NGE... I will forget about you for another 6 months
:cool:
.^sc

[tricha]

NGE has been my worst performing investment of all time... but, TTEO would be my biggest loss of all time... I am extremely happy I got out of that before expiry....
but I have kept NGE for sentimental value as selling the stock now would hardly cover the worth of brokerage...
I would describe nge as being 1% of me...
a few years back it was double digits of me....
I am extremely proud of how I have held back from adding to my holdings as the company has fallen away......

PPL277 I would describe as my top permits/investment of all time... along with Roma... ... The sale of this permit to exxon and oil search is a huge blow as massive and certain leads are full of gas... and the suitors know it...
and the pure size of that block is like 10 blocks backing onto PNG LNG ... the dream...

the crown jewel of my NGE is lost...
NGE will be remembered as the company that had it, but couldn't hold onto it...
BUT, The gig is not up...

Theres something more in this... and the funds recieved, and royalty over the permit still holds a sort the leverage we can materialise while conitnuing to grow and maintain the company in other permits....

all the best NGE... I will forget about you for another 6 months
:cool:
.^sc

We can not win them all Shrewd, heres my worst % loss, still hold as not worth the brokage to sell, but a very good lession, to be kept as a reminder.




GGP5000ASX445.0000



GGP (http://www.sharetrader.co.nz/C922C311CAC00778E63167A1664B273E/quotesummary/index/asx/ggp)







5,000 cost
$445.00 now DR
$0.004
$20.00
$425.00
95.51%

[patrick]

Just fount reference to old shareholding, now 20, ooo shares.
What is the Coy up to now. Thanks