NGE, New Guinea Energy

[Crypto Crude]

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

[Crypto Crude]

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

[trackers]

http://www.smh.com.au/business/locals-get-a-lift-in-png-gas-project-20090920-fwtu.html



Locals get a lift in PNG gas project



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





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

[JMJ1202]

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

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

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

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

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

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

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

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

[whatsup]

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

[Huang Chung]

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

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

Still, talks cheap.

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

[trackers]

I'm in @ 0.205

[Huang Chung]

Was thinking about a trade myself trackers.

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

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

[trackers]

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

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

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

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

[drillfix]

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

Just a watcher of this one but interesting story.

[Crypto Crude]

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


HC,
The development of PNG, and its previous stranded gas assets is a long term play... This stock and this region will not be a one night wonder, or
a one year re-rate... this will take time... but the sheer size of the PNG LNG project, and this companies prospects means that there are big returns on offer...
When FID is given, and construction begins 1st quarter 2010, then NGE will get more notice as it is already starting to have...

NGE will ride on major developments of the big players in PNG LNG, which will unlock value behind this companies 6 permits...

Wow...
NGE really starting to fall...now around 19cents...
this is an exceptional long term play, time your entry....
:cool:
.^sc

[gazprom1]

SC/ Drillfix,

Dipped my toe in today. I like the story and has a good partner. Sold a few HZN for the trade...??!!

[trackers]

Good on ya gazprom, suspect you just made 10%? 4mil on the buy, 3mil on the sell and cruising at 21c..

good, good... I can rest easy now

[gazprom1]

Thanks Trackers. Happy to be in for the medium/ long term. HZN has run really hard and want to diversify a little more. Bought more CUE on the dip today as well. I have been taking a little off the table over the past couple of weeks as we may have a correction at some point and it is nice to lock in some profits.

[STRAT]

Geeze, there is no shortage of great stories out there right now eh? and this looks like another goodin. Im keen too but I think I will wait for the day traders to stop playing with it and see where it lands.

[Huang Chung]

In on the open at 20c. Should have held back for 5min and they would have been cheaper.

Probably hold for a quick trade, if the market cooperates.

[STRAT]

Hi Phaedrus.
This one has had a good rally recently and is still retracing I think.

Relative strength and momentum etc show me if Id been in before the rally it would probably be worth hanging in there but looking for an entry I suspect not yet.
Could you please post a chart and your thoughts on this one.

[STRAT]

19.5c-20c will make a good entry point.

When I would sell .... (as in... Stoploss / Capital Protection)

If the 45 Day Exponential moving average stops rising.

or

If Price Trades below 18.5c ( / closes below)

or

If The ADX indicator (14d) Reads less than 25.

Not Advice


AAThanks AA
All those exit plans make sense to me but Im not sure why you see 19.5-20.0 as a good entry.

Id be playing wait and see.

ADX falling

MA all slowing

Still falling from the peak of the last rally

I guess if it closes at 20 or above today one could say there is a bit of support there.

[Phaedrus]

Hi Phaedrus. This one has had a good rally recently and is still retracing I think. More than that Strat, it is in a confirmed downtrend.


Relative strength and momentum etc show me if I'd been in before the rally it would probably be worth hanging in there....You reckon? Momentum peaked on 15/9 and has been falling ever since. The RSI gave a Class A Bearish divergence on 17/9 giving an exit at 28 cents. The OBV has broken its trendline and is falling. The price trendline has been broken. NGE is in a downtrend. Look now at the inset candlestick chart. Note the intraday resistance at 29.5 cents. This was immediately followed by a very powerful Bearish Engulfing Pattern. You would have to be very brave or very foolish to "hang in there" in the face of that little lot!


looking for an entry - I suspect not yet.Right!

http://h1.ripway.com/78963/NGE929.gif

[Huang Chung]

Although I was planning to hold for a bigger gain, I bailed yesterday at 21.5c to redeploy funds into PDZ, which was undergoing a brief mid-day selloff. Picked up the extra PDZ at 18.5c.

So far NGE is down and PDZ is up, so I'm not complaining :rolleyes:.

[STRAT]

Thanks Phaedrus and AA. You have both got me with my thinking cap on now.

Phaedrus you say the down trend is confirmed.

Short term
There seems to be varied schools of thought out there on how many lower lows and lower highs make for confirmation ranging from one to three or more. How many would you say would be sufficient to confirm a down trend? I have been using three up till now. On that basis and using daily highs and lows since the high on the 18th there has been one confirmed down trend followed by a confirmed uptrend followed by an unconfirmed downtrend.

Medium term.
Using closing prices only since the 18th I see two lows and only one high so no confirmed trend. In an attempt to create a trend line I currently have 2 fan lines, the second shallower than the first. Possible easing of the retrace but as yet unconfirmed.

Long Term
Uptrend in tact.

Conclusions
None. Wait and see.

Momentum
Has dropped off significantly but the rate of fall has significantly reduced over the last 5 days. The zero line has not been breached.

Conclusions
Wait and see

Relative Strength
I did notice the divergence there and had I bought at the start of the rally ( Buy arrow on your chart ) I would have been looking for the door. But if I had bought back in March ( I realize writing “before the rally” in my previous post was somewhat ambiguous ) when the long term up trend started I would be giving it some more wriggle room. The fact I can not draw any absolute conclusions as to whether it is a buy right now would also leave me undecided as to whether it is a sell also. Im still coming to grips with relative strength. Its quite a complicated indicator. I suspect many use it inappropriately some times. I know I have.

Short term candles
There seems to be some support there at 20c and 18.5c
I would be looking to see these tested again short term

Volume
Has been decreasing since the High on the 18th.
25.5mill traded on down days (average 5.1 mill per down day )
11 mill traded on up days ( average 3.6 mill per up day )
Not a totally horrid ratio for a falling stock I would have thought.
No conclusions
Conclusion based on the above only
If Id bought in March Id be watching close but still on board. If I was looking to buy Id be waiting a bit longer to see where to next.

How am I doin fellas. Feel free to get stuck in and thank you for your input and help

[Phaedrus]

"You say the down trend is confirmed".
Right. NGE is in a short-term downtrend, a medium term downtrend and a longterm (8 month) uptrend.

"How many lower lows and lower highs would you say would be sufficient to confirm a down trend? I have been using three up till now".
A lower low after a lower high defines a downtrend. That makes a minimum of 4 points. 2 highs and 2 lows.

"Short term. Using daily highs and lows since the high on the 18th there has been one confirmed down trend followed by a confirmed uptrend followed by an unconfirmed downtrend".
Right, except that the final (current) downtrend is also confirmed. See how the last candlestick has a lower high AND a lower low than the preceding candlestick? That's a short-term downtrend.

"Medium term. Using closing prices only since the 18th I see two lows and only one high so no confirmed trend".
Look again! There are 2 highs and 2 lows and since the lower low comes after the lower high you have confirmation of a downtrend.

"Momentum has dropped off significantly but the rate of fall has significantly reduced over the last 5 days. The zero line has not been breached".
The zero line HAS been breached and in any case it is NOT a trigger level. The usual approach is to sell when Momentum crosses to above a high (overbought) level and then falls back below it. This happened around the time of the RSI sell signal.

"Relative Strength. I did notice the divergence there and had I bought at the start of the rally ( Buy arrow on your chart ) I would have been looking for the door. But if I had bought back in March when the long term up trend started I would be giving it some more wriggle room".
NGE has dropped over 30% since it peaked. That is an awful lot to give back to the market - regardless of when you bought.

"I can not draw any absolute conclusions as to whether it is a buy right now"
NGE is in a short-term downtrend and a medium-term downtrend. That would rule it out as a buy for many people!

"I am undecided as to whether it is a sell also".
There were plenty of very clear, well confirmed Sell signals. Anyone that chose to ignore them and has worn the subsequent 30% drop in price may as well wait and see which way NGE heads from here. The support at 18.5 - 20 cents may hold.

"Conclusions. None. Wait and see".
From my perspective, the conclusions are obvious. I guess that's what makes a market eh Strat?

[STRAT]

Thankyou fellas.
Let me digest all that and get back to you.

Phaedrus
"Conclusions. None. Wait and see".
Im being ambiguous again. I should have put "wait and see" in context.

In terms of being a potential buy ( I do not hold NGE ) Good story. Interesting FA but plan of action is wait and see where it goes from here.

[Crypto Crude]

Oh wow...
I just spent an hour researching and writing up a monster Shrewd Crude report, and then it wouldnt let me submit it, then it got deleted when I tried to go back...
oh wow...

anyway, I bought NGE today at 20cents...
confirmed downtrend or not in too scared to be left out...
I dont know how this will track in the short term, but eventually this goes up, and in a big way...

I will write it up again in the weekend...
:cool:
.^sc

[gazprom1]

SC,

I am with you. Like the medium-long term. Hope we are not too early on the entry...may be an opportunity to buy some more a little bit cheaper in the coming weeks. Look forwrd to your write-up!!

[Corporate]

Oh wow...
I just spent an hour researching and writing up a monster Shrewd Crude report, and then it wouldnt let me submit it, then it got deleted when I tried to go back...
oh wow...

anyway, I bought NGE today at 20cents...
confirmed downtrend or not in too scared to be left out...
I dont know how this will track in the short term, but eventually this goes up, and in a big way...

I will write it up again in the weekend...
:cool:
.^sc

looking forward to the weekend write up SC!

[STRAT]

"How many lower lows and lower highs would you say would be sufficient to confirm a down trend? I have been using three up till now".
A lower low after a lower high defines a downtrend. That makes a minimum of 4 points. 2 highs and 2 lows.


Hi Phaedrus.
Just to confirm I have this clear. Using highs and lows within one day, one could have a confirmed trend based on two days trading as in the sketch below? :confused:

[Phaedrus]

Right. You have got a lower low and a lower high.

[STRAT]

Right. You have got a lower low and a lower high.Thanks Phaedrus.
I have to wonder how useful that confirmation would be unless used in conjunction with other info. I could see day traders who are charting the intra day making use of it but isolated its just noise to this turtle.

Am I missing something profound here?

[STRAT]

Try using it on a weekly Chart or a Monthly Chart it will remove some of the noise.

Also have a read of these, they tie in well.

http://www.smallstocks.com.au/technical-analysis/bar-chart-ranges/

http://www.incrediblecharts.com/technical/bar_charts.php

AAThanks AA.
Will do.

I guess by noise Im implying that trading in or out of a stock based on one down day would have one in and out on a daily basis in many cases. Three of those in a row ie 3 consecutive days of that pattern in a row would have me more concerned.

[Phaedrus]

No, you're not missing anything profound. It's just about using indicators and systems that are appropriate to the timeframe that interests you.
For the "medium-term" trading that I do in Aus this may be more detail than is needed and in isolation it probably does count as little but noise. That's why I generally use line charts for plotting "medium-term" trends.
For US stocks that I trade "short-term", this is an insufficient level of detail and much faster candlestick based systems are called for.
For NZ stocks that I trade "longterm", very shortterm trends like that are of no interest at all.

[STRAT]

Thanks fellas.
Great info and much appreciated as always.

Sorry to steer your thread off on a tangent Shrewdy but if its any consolation, my original post was in part aimed at assisting you with your entry :D

[STRAT]

Getting back on topic
Do I spy a bullish divergence forming between the price action and OBV on NGE?

[Huang Chung]

Phaedrus, NGE hammered badly today on what was, of course, a horrible day for the market in general.

Seems like a lot of traders (as opposed to long term true believers) are tripping over themselves as they head for the exits.

Does the relative poor performance of NGE of NGE today, relative to the overall market, tell you anything? Are things shaping up much as you predicted earlier, or actually looking worse?

Value your thoughts ;).

[Phaedrus]

Seems like a lot of traders (as opposed to long term true believers) are tripping over themselves as they head for the exits.Many of them would have been counting on the previous support at 18.5 continuing to hold. When it didn't, they wanted out.


Does the poor performance of NGE today, relative to the overall market, tell you anything? Nothing that I didn't already know ie that NGE is a speculative and volatile stock.


Are things shaping up much as you predicted earlier, or actually looking worse?I didn't predict anything. All I did was draw attention to the fact that NGE was now in both short and medium-term downtrends and that there had been no buy signals generated.

Todays big down day was simply the continuation of a pre-existing downtrend.

http://h1.ripway.com/78963/NGE102.gif

[Huang Chung]

Many thanks P.

I guess the most important thing to take from your response is that 'there have been no buy signals generated'.

Was tempted to trade back in late this afternoon when they were hovering between 17c and 17.5c. Glad now I held off.

[drillfix]

HC, as you say many stock got hammered today, but not as bad for many really.

In fact, some come even or up even.

I totally agree with Phraedrus about that obvious Bearish Engulfing candle, it was a doozy with tell tale signs and so easy to read.

Also for what its worth, there is a Window there that should act as some type of support as in here:

http://i37.tinypic.com/117h95f.gif

Failing that, wait for the MACD to cross again to positve and with a kick of good market sentiment things should be like business as usual.

[tobo]

okay, so we watch for bounce off 16.5c 'support' and await MACD
(also watch OBV support, and for RSI & stochastic to turn up)... and pounce

[Phaedrus]

Tobo and Drillfix, I'd be inclined to take the MACD indicator off my watch list if I were you. Look at what happened last time NGE was in a downtrend :-

http://h1.ripway.com/78963/NGEmacd.gif

The MACD was firing off "BUY" signals all the way down. I think you would be rather angry had you been foolish enough to have acted on any of that little lot!

Backtesting NGE tells us that the MACD is an unprofitable indicator with Losing trades outnumbering Winning trades 3:1.

[newbietrader]

oh my...missed opportunity..was looking at 0.175..and tempted to get in...sigh...now 0.19

[trackers]

oh my...missed opportunity..was looking at 0.175..and tempted to get in...sigh...now 0.19

You and me both, I had an order for more @ 17.5c that I actually pulled right on open as I wanted to see the reaction to the latest announcement. Lol.

Oh well, still have heaps

[soulman]

That fall on Fri was all done in the last half hour or so. It was 19 cents all day and then boom....closing at 16.5 cents. People heading for the hills since the support at 18.5 was broken.

[drillfix]

Tobo and Drillfix, I'd be inclined to take the MACD indicator off my watch list


Agreed Phaedrus, I would Not solely use or rely on MACD buy signals throughout a chart, as I would have found it useful viewing MACD in conjunction along some EMA and CCI.

It is said that MACD is difficult to decipher in a sideways market, but a trending market allows it to be used effectively. NGE has gone sideways for quite some time however my previous post was referring to more the Trend the stock was and is currently in. Check back a Apr/May 08 and you will see if you use a CCI:90 indicator, that has cracked 100 would have added a Buy as it did off and on a few months leading up to huge volume starting Sept.

If it were me considering a entery/re-entry, I would prefer the SP sitting slightly above the EMA's, but having said that, it appears that crossing EMA's are becoming apparent, so good reason to be cautious.

Hope that make sense :rolleyes::D

ps: I dont hold.

[Crypto Crude]

Hey all,
These are my own thoughts...
here is an overview of New Guinea Energys 6 permits within PNG...In the Paupan Basin where 350 wells have been drilled to date with extensive success makes this a prolific region for LNG expansion (of both reserves and further exploration upside), which has bought on the PNG LNG project.... with International large oil, ASX Large Oil, and a select group of ASX junior oilers set to benefit on a scale not seen by any of these juniors companies...
4 Junior ASX oilers (that I can see) positioned in this region (NGE, CUE, HZN, MOS)...
here is a picture, where I have drawn in NGEs 6 permits...
I will discuss these permits in further detail now and in time, tying in the reasons why PNG LNG is set to give big exposure to NGE with its super large portfolio of acerage and most importantly our 2 permits right in the middle of the whole project... (and three other significant, but less important permits off to the west)... and permit PPL 267 with up and coming drilling...

-permit PPL 277 which is the first most northern permit to the Fold belt,
which could be described as a series of 10 plus oil and gas fields, all on trend which will be developed into PNG LNG...

-permit PPL 269, another exciting permit which lies in the upper region connecting to the fold belt through a Dog Leg and surrounded by big discoveries to the North, South and East with potential for the Stanley Gas field overlapping into our permit... (recent Talisman, HZN deal)....
The main reserves surronded by this permit (P'nyang, Hides, Juha North)
compromise the Northern PNG LNG Train, which PPL 269 could be tied into...
-Permit PPL 267 with oil seeps, and target well named Panakawa...

So basically NGE has two permits right in the sweet spot of the PNG LNG project (PPL 269,PPL277) which SHOULD hold major focus for oil majors NOW as they get themselves positioned to take advantage of full scale development of the region...
Little NGE without reserves, but with a swagga of tasty permits.... oh my.... Ive not seen it like this before... what a treat...

http://farm4.static.flickr.com/3419/3985286983_a41740a36c.jpg

Down the line this investment will really perform from two angles...
1) oil and gas exploration
2) holding strategic assets

The most important thing you must realise is that we dont need to discover oil/gas for NGE to perform... because we are tied into the vast, expansive development of the region, by being positioned with permits right in the middle...

Just like the Queensland Coal Seam Gas industry, the testiment to value behind PNG LNG is hidden in all the transactions/mergers/acquisitons that have taken place to date...
In the last few months these transactions have really blown out, exposing the region in what were previously stranded gas assets
Deals include- the Sasol deal, Oil Search farmins on the back of OSH selling down a small stake in PNG LNG to further expand on underdeveloped exploration targets (which is very good news for the likes of CUE), and of course Talisman- HZN, Talisman-NGE, Talisman-Rift oil... P3GE selling PRL5 to Santos... the list goes on...
Oil Search is set to book 550 million Barrels of oil reserves (BOE) from PNG LNG, and triple its production profile going forward...

In the Picture at the top the Blue Arrow signifies the (roughly drawn) proposed Gas pipeline which will transport gas to an LNG facility 20kms Northwest of Port Moresby where gas will be liquified and shipped to World Markets...

I am hearing that this month, Oil Search is going to announce some further cost cutting initiatives that will come to market... Did you also know that out of all the LNG Projects Worldwide pending Final Investment Decision,
that PNG LNG has the lowest Capex already?
Yes, Ichthys, Gladstone (CSG) capex approx 30% higher...

I seriously think that NGE without any exploration success will be a one dollar stock down the line...
On that note, this is technically not a risky investment...
Front end large returns come from exploration drilling, but it is always good to know that we fall back on PNG LNG as we feed off the developments in the region...
We all have punting type stocks, and all that... but when I seriously make large positions (when I go all in, which I had virtually done with CUE)...I go in looking for stocks which have characterisitics of low downside, big upside...
upside does not have to be through exploration success, it comes in the form of holding these strategic assets... and the downside is protected from International
exposure within PNG over the next 5 years....

Check out our connections through our non exec director, Simon Korua...
Wow...

Oh my,
Over the last few years I have not been rampant about too many oilers...
This is one to seriously rampage about...
These sorts of investments, with the likes of CUE's PNG exposure, do not come around very often at all... Sure there will always be returns to be made on the sharemarket... BUT, not like this...
This story, and the whole Queensland CSG story comes on a totally new level... Since when should there be such things as a low risk 500% return?...
low down, big up....

Gone were the days when one needed to invest in high risk, high cost, offshore (eg WA at the moment taken off)... A small window of opportunity over the next few years has presented itself, just as large as offshore drilling, but on a whole new risk level as the costs are lower...

Make sure you get positioned in PNG, and make sure you get positioned into Queensland CSG...
These stories only get bigger and better...

I dont know when NGE hits $1 per stock, but it does... and in a serious way... wow... I still cant really believe we are positioned right there with a market cap of what 80 million?
on a project that will earn trillions of dollars...
and we roll with the big boys who get the job done...
There will be no mistake about that...
im in at 20c, thinking of loading up in a serious way...
I might just have to average down or up...
:cool:
.^sc

[STRAT]

Thanks for that excellent post Shrewdy.

It is a good story alright

There you go Trackers and Newbie Trader. You guys get another chance back at 17.5c.

Im going to wait a bit and see how it plays out.

[mattyroo]

This stock piqued my interest when Mr. Shrewd first posted about it - I have done some research and like the look of it.

However, I am no chartist, but when I first looked at this (price circa 23c) it did not look like a buy to me using my rudimentary charting skills, so I placed an order near the long-term trend. Still using my far from expert charting skills, I still don't think this is a buy and am maintaining my order at the long-term trend, will be interesting to see if it gets hit.


If it changes direction significantly upwards before my order gets hit then I may still consider jumping onboard, as, as I said before, fundamentally it looks like it has got the goods.

For now I'm firmly in Strat's camp - wait and see - and happy to be there.

And thanks to Shrewd for putting this on my radar and all his research - I owe you a beer - well, if it makes me some money!!

[STRAT]

maintaining my order at the long-term trend, will be interesting to see if it gets hit.


Hi Mattyroo.

That would be around 12.5-13.0c :eek:

[mattyroo]

Hi Mattyroo.

That would be around 12.5-13.0c :eek:

Spot on.....

[newbietrader]

Thanks for that excellent post Shrewdy.

It is a good story alright

There you go Trackers and Newbie Trader. You guys get another chance back at 17.5c.

Im going to wait a bit and see how it plays out.

I'm concerned as the sp can go up or down so much..will have to wait n see :)..SC..nice post

[gazprom1]

Hi Mattyroo,

I am hoping that it does not get down to the levels you are contempating as I am already in at an average of just over 19. However, it could well do that if the news flow dries up and global markets have a sizeable correction. I will be looking to average down if that is the case which I think is a big no no with Phadeus. Given the recent positive news and strong underlying assets, I am hoping it will move forward from where the current share price especially if the December drill is goes ahead as planned.

[buns]

I don’t know a thing about this company or this kind of stock in general. But following the belief in this thread and a few other giddy investor reports else where I took a rather large dabble at .18c the other day.

I told my self I would never do this, but got dead sick of the boring NZX and a tad jealous reading over some of the returns in the leading threads on the ASX page. I also remember knowing nothing about NRL but bet on it oine day anyway, ended out watching that game and now can't stop, getting to a point where I know the game inside out. I’m hoping the same will happen Re mining.

Anyway

Up 10% to 20c already – go you good thing!

[whatsup]

Buns welcome to the Aussie sports board, look up Hotcopper for anything you need to know wonderful chat site and well based but be verrrrry careful of rampers they are very alive there but the site is well informed by successful short ,long, and day traders. good hunting.

[Crypto Crude]

Buns-I don’t know a thing about this company or this kind of stock in general. But following the belief in this thread and a few other giddy investor reports else where I took a rather large dabble at .18c the other day.



Hey buns,
There is no doubt that NGE has some of the most prospective onshore permits on the entire ASX oil junior market...

I was just talking to a mate about this, and this is a time in the Oil industry like no other... Unlike Historically (my perception of what historical oil industry was like)... there is now many oilers with unimaginable large potential resources...
And by that, we are talking billions of barrels BOE, compared to market caps of say 100 million...
mega baggers in the making... There are many of them around...
the trick is to find an oiler that has unimaginable potential, and what is the best direction to take?

Find an oiler that has permits in a nice location to an International stage project.... Bingo...
and at the moment its all about LNG... CSG...
and both are generally not known well by the market, and by individuals that make up the market...
"its just another bubble", they say......
ahhh no...

Look at BOW for example,
BOW has gone nuts because it has strategically located acerage adjacent to established CSG projects...

NGE has two permits right in the sweet spot of the Whole PNG LNG project... I drew them in...
In time there is no way that this company wont get noticed in a serious way...
PPL277 stretches much of the length of the Fold Belt and PPL 269 stretches the Dog leg...

I dont know how NGE will track over the years,
but this is heating up to be a super oiler if its not taken out first.....

PNG LNG project is not a short term project, this is going to take a solid 4 years of construction until first production...
NGE is therefore not a short term investment either...

at 20 CPS, I would look at this as a 5 year investment that will make around 100% return per annum on average on the downside...
with a whole heap of upside if we factor in for example discoveries...

I have generally thrown around my base case scenario of $1 per share, or a 500 million market cap on no discoveries/no reserves etc...
just on what these 6 permits will be worth down the line (and the tasty two) ... the market will start to re-rate the project which will be worth trillions of dollars of revenues...
OSH is a low risk $20 stock down the line... there will be no mistakes in this startup...

As I said, OSH is set to book 500-600 Million barrels of oil (BOE) from this project.... and NGE is right in the middle...
The mind boggles...
This might take time, but it will be well rewarded...
I am asure of that...
Technically no risk in time...
just strategic assets in fairway heaven PNG LNG...

we have Oil Search and Santos, Billion cap ASX oilers who are overextending themselves to get their foot in the door on PNG LNG, we have OSH stripping much of its international oil and Gas program to instead poor money into PNG LNG...
and we have a couple of junior oilers with permits right there....
This is big...

as always, got to be patient...
This time is no different...
One of the best ive ever seen...
time will tell if its one of the best performers...

sit back and relax...
bye for now...
:cool:
.^sc

[bermuda]

Shrewdy,
It is good to know that you are now firmly committed to CSG. This is a once in a lifetime chance to make some serious money. I doubt whether I will ever see this sort of opportunity again.

Shrewdy, this thing has hardly started. The public thought it was a bubble. It wasn't. It is for real and it is going to be big.
Wait and see what happens once the first FEED gets approved. About July next year. Far out.

Shame you can't make tennis. I have had a 5 week break from it. You would/may have had a chance. lol.

[bermuda]

Shrewdy,
It is good to know that you are now firmly committed to CSG. This is a once in a lifetime chance to make some serious money. I doubt whether I will ever see this sort of opportunity again.

Shrewdy, this thing has hardly started. The public thought it was a bubble. It wasn't. It is for real and it is going to be big.
Wait and see what happens once the first FEED gets approved. About July next year. Far out.

Shame you can't make tennis. I have had a 5 week break from it. You would/may have had a chance. lol.



CSG will become a HOUSEHOLD word in Australia.

[Crypto Crude]

Bermuda-CSG will become a HOUSEHOLD word in Australia.

Bermuda,
PNG LNG household appliance...lol...
Bigger than the invention of an oven or microwave...
mate, in 5 years I'll be cooking with PNG gas...

but appartently NGE director in talks with a large International firm (that I wont name, who is already in PNG in a big way with
permits on PNG fairway)... and this company is looking to extend its exposure... If you can guess the name of the company I will confirm...
The word is that NGE is in talks with this company to sell off some assets for quick bucks...
Could hear something in short to medium term...

on another note...
Ideally the two permits on the Fairway PPL 269, PPL277 shouldnt be touched, its overly presumptuous to think that eventually NGE wouldnt farm out a stake in these...

So its either going to be

1)a short term/medium term deal...
2)a longer term re-rate through PNG LNG development and hold these assets.....
or3) a longer longer term if we retain much of our permits all the way through to production....

1) 50cents... humm speculative....
2)$1
3)$5... this scenario looks unlikely given the fact that we need money, and large oil exposure to develop and drill these giant targets.....
Billion barrel discoveries are all around...
what are the chances we have one in our permits? pretty high....
and
4) or being taken out on the way....

Its one of these 4 options...
I will stick around to find out which one it is...

SP could do anything in the short term...
current price is a long term steal... and I mean steal...
This is technically low risk, but based on stock volatility short term losses are possible as we wait on a new business cycle to kick in a new uptrend...which will happen, just not sure when...
bye for now...
shhh about this one..... a little gem...
:cool:
.^sc

[AMR]

Shrewd, are there any oppies on this stock? Weekly chart looks ok, strong accumulation.

Would seem that market risk is quite low right now compared with last year.

Equities = Up
Oil = Up
USD = Down

[JMJ1202]

Hi,

Anyone got any thoughts on the resolutions for the General meeting on the 11th Nov?

Seems like the directors are loading up on options, 25 million for Michael Arnett and 4 million for the others. Exercisable at 45c.

They're also issuing 5 to 1.5 million on the same basis for nil cash consideration providing they meet certain share price mile stones?

The directors are also lifting the renumeration cap for non execs from $250k to $500k. Not too happy about this one especially with no cash flow at present.

[buns]

Go boy!

Up to 3c today to 22 on some nice volume..

[Crypto Crude]

NGE--> great future company...
The market doesnt know it yet...

AMR, there are no listed options that im aware of...
:cool:
.^sc

[Crypto Crude]

NGE testing 24.5c today...
This is a great start...
TA said 13c might be good entry point...
killer instinct...
The theory is you dont want to be out of this when the market appreciates PNG LNG fairway permits....
:cool:
.^sc

[drillfix]

The theory is you dont want to be out of this when the market appreciates PNG LNG fairway permits....
:cool:
.^sc

Im not much of an Oil Man there SC, but I can agree with your theory.

This stock is on my "want to have but I aint got the dosh" Watch List :rolleyes: :p

[STRAT]

TA said 13c might be good entry point...

:cool:
.^scNaa mate. Mattyroo said he would like to be in around there. Nuttin to do with TA at the time he posted it :D

Around the 6th to the 8th things started lookin better.

[seaosh]

Hmm. . . Check out the story below.

http://www.pngbd.com/forum/showthread.php?t=20149

or the same story here.

http://www.smh.com.au/news/business/father-son-to-make-10000-times-outlay/2007/04/17/1176696835454.html

Jeremy Towner has 77 million shares in NGE, or 17% of the company.

I know nothing about the Ord River story, but should this be raising red flags about the direction NGE are going to go in?

The fact that a major company like Talisman is farming into the PNG permits is very reassuring, but I'm not sure if I like the sound of management.

[Crypto Crude]

Seaosh,
I read the articles...
I didnt know that...

just because they were greedy, does not mean they dont have our interests at heart...
I mean, they got, and foresaw permits that are going to be worth da boom in time...

Unproactive, self forfilling, acency cost, lazy management....
Management who dont update shareholders etc...
greed is only one part of management quality...

To be completely honest,
The Towner two were smart enough to pick up 6 permits (the last attainable quality fold belt permits), onshore PNG for a steal, right in the middle of a World Scale project...
and sell them to the market, at market prices...

Sure they made da boom...
but isnt that what business is all about?
you sell something for what it is worth even if you pick it up for next to nothing....? what you paid doesnt matter, its what its worth to the market that matters...
now if there was a listing for xyz for 10million, when its only worth 5million, then thats real bad practice...
But the Towners didnt rip the market off, because they listed the company for what those 6 permits were worth to the market...

... but you always pay for what you get,
and what you get here is a low risk path to much larger riches...
by being positioned right in the middle of a mega TCF project, along side Exxon, Oil Search, Nippon, Talisman, Interoil etc...

Sydney Gas, and Sunshine gas were successful listings...
they have both been taken out...
so theres much hope in what we hold...
The Towner two are smart characters...
I will continue to hold...
dream assets mate...

but yes,
their returns are excessive...
:cool:
.^sc

[seaosh]

Point taken. . .

Was thinking over the thing since first seeing it, and regardless of them making some excessive returns there is plenty of positive in them finding and securing the assets, then organizing farm outs to major companies. The fact they retained a 100% interest in Panakawa while doing all that also shows they are confident there is some substance there.

My concern would be something like a pump and dump scenario, which is possibly what the Ord River Resources copper 'discovery' business was about? Even Ord River Resources seems to be the real deal recently though, so hopefully this won't happen. I see Ord River Resources just signed a JV on their Lao bauxite project with China Nonferrous Metal Industry Co. Seems they are involved with big players in Laos too, so presumably another substantial project.

So whatever the history of these guys, right now they seem to have got possession of some genuine assets - and that's the main thing. . .

[Crypto Crude]

Hey Seaosh,
I dont know anything about Ord river...
rather odd actually...
hehehe...

Sunshine was a pearler...
Sydney was a treat...
and NGE is better than them all...

The Towners have made 3 successful listings of quality assets...
and the ord river that I care not to look into...

This cant possibly be a pump and dump...
PNG LNG is so very very real...
Read the latest OSH presentation...
...
:cool:
.^sc

[Huang Chung]

At the risk of telling you how to suck eggs, you do realise that Jeremy Towner passed away earlier this year?

http://www.ngenergy.com.au/Announcements/Vale%20Jeremy%20Towner.pdf

[seaosh]

At the risk of telling you how to suck eggs, you do realise that Jeremy Towner passed away earlier this year?

http://www.ngenergy.com.au/Announcements/Vale%20Jeremy%20Towner.pdf

Whoops. . . Didn't realize that. Happened before I bought in.

[drillfix]

At the risk of telling you how to suck eggs, you do realise that Jeremy Towner passed away earlier this year?

http://www.ngenergy.com.au/Announcements/Vale%20Jeremy%20Towner.pdf


HC, from reading that, he was still quite a young man, would you know what was the cause of his passing?

[Huang Chung]

I seem to recall reading that he died suddenly at home after a swim or BBQ or something similar.

[Huang Chung]

Trading halt.

Capital raising.

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01009921

[Crypto Crude]

Well,
This cap raise will really push along the drilling of Panakawa...
The drilling of a near 200 Million barrel target...
To me it looks like a good target, which is characterised by oil seeps...
Not so sure I like the dilution part, and not liking the oil part of Panakawa...
what we really want is Gas...by 2012 Shell will have more gas reserves than Oil......
...
..
.
I guess everyone will be happy with some big target drilling while we wait on our meaty PNG permits to eventuate...this at least will give us a shot at short term large returns...
this investment is just too easy for those who are patient...
and yah guess what...
we get a few big target wells along the way which should see us have solid downside support (over the medium term), on failure of risky high target exploration drilling, as we have quality permits in there to fall back on...thats the smart way to invest in juniors...
:cool:
.^sc

[DTB]

Capital raising to professional or sophisticated investors only.

Awesome.

[trackers]

Capital raising to professional or sophisticated investors only.

Awesome.

Yeah...gets a bit tiring, huh? Little guy gets screwed again.

Lucky me I redeployed some funds into TAP so I might have a nibble at these cheaper. Price has held up relatively well given the dilution/discount I think..

[STRAT]

Is this an important juncture NGE has come to from a Tech point of view?

Short term support @ 18.0c broken today on the highest volume in a month (not huge though) and if it closes any lower it will be through the medium term trend line (up). Better bounce tomorrow eh?

[Crypto Crude]

short term, who knows...
long term, sure thing...

Im averaging down for the long term....
If NGE nears 12cents I will sell every CUE share I hold, and put it into NGE as my next major play...

:cool:
.^sc

[gazprom1]

SC/ STRAT,

IMHO, I think the share price will be underpinned by the 16.5 cent placement and believe the support level will be there. They have the cash on hand now and hope they secure a rig sooner rather than later!!!

Gazprom

[Huang Chung]

More than that Strat, it is in a confirmed downtrend.

You reckon? Momentum peaked on 15/9 and has been falling ever since. The RSI gave a Class A Bearish divergence on 17/9 giving an exit at 28 cents. The OBV has broken its trendline and is falling. The price trendline has been broken. NGE is in a downtrend. Look now at the inset candlestick chart. Note the intraday resistance at 29.5 cents. This was immediately followed by a very powerful Bearish Engulfing Pattern. You would have to be very brave or very foolish to "hang in there" in the face of that little lot!

Right!

http://h1.ripway.com/78963/NGE929.gif

Time to dust-off Phaedrus' comments on the direction of NGE. Shareprice isn't looking too flash at the moment.

Phaedrus, how are you reading NGE at the moment?

[STRAT]

Ill have a crack at it.
Short term down trend continuing
Medium term uptrend ( from Feb ) ended
Next line of support 11.5c
Not over sold yet
Downtrend likely to continue

[dragonz]

Time to dust-off Phaedrus' comments on the direction of NGE. Shareprice isn't looking too flash at the moment.

Phaedrus, how are you reading NGE at the moment?

Best to wait a few months. TAs a wonderful thing but works best in restropect

[Phaedrus]

NGE is now in a short-term downtrend and a medium-term downtrend (magenta trendline).

Today's Close broke below the previous support level of 16.5 cents.

The OBV continues to fall with a confirmed trendline in place.

The RSI continues to fall, making a 9 month low today.

http://i602.photobucket.com/albums/tt102/PhaedrusPB/NGE1124.gif

[Huang Chung]

Thanks very much P.

Maybe it continues down to Strat's support level of 11.5c :confused:.

Should be a trade in it somewhere, especially as we should be getting closer to some drilling.

[STRAT]

Should be a trade in it somewhere, especially as we should be getting closer to some drilling.I reckon :D

[Corporate]

Does anyone know why the corporate presentation on 5/11/09 states that there are 557m shares on issue. Yet directly broking states only 503m?

The appendix 3B released on 19/11/09 also states that there are 503m shares on issue after the latest capital raising which was announced after the presentation.

I'm just trying to work out the actual market cap.

[Corporate]

Does anyone know why the corporate presentation on 5/11/09 states that there are 557m shares on issue. Yet directly broking states only 503m?

The appendix 3B released on 19/11/09 also states that there are 503m shares on issue after the latest capital raising which was announced after the presentation.

I'm just trying to work out the actual market cap.

Found the answer - 163m shares in escrow until the end of this month.

[snowball]

Hi Corporate,

I needed a challenge after 5 hours exhausting work in the garden. Pretty confusing.

After checking through the various announcements I noted there are 166.45m unquoted shares - look at section 9 of the 3B.

There was a placement of 112m shares in November bringing quoted shares to 503m.
Total shares on issue is 669,543,988 to be exact - probably a few more than you thought (and me for that matter). Market cap 107m at 16 cents.

Thanks for highlighting.

[Corporate]

Hi Corporate,

I needed a challenge after 5 hours exhausting work in the garden. Pretty confusing.

After checking through the various announcements I noted there are 166.45m unquoted shares - look at section 9 of the 3B.

There was a placement of 112m shares in November bringing quoted shares to 503m.
Total shares on issue is 669,543,988 to be exact - probably a few more than you thought (and me for that matter). Market cap 107m at 16 cents.

Thanks for highlighting.

Hi Snowball,

I came to the same conclusion. $107m making the picture not look so rosey. 166m + 112m is a lot of extra shares in the market..

[Corporate]

SC, have you got any feeling for the NGE management?

[da puntzda]

Be interesting to see if this reflects favourably in NGE and BUL sp today

from The Australian


EXXON Mobil and its partners have agreed to proceed with a $US15 billion ($16.4bn) liquefied natural gas project in Papua New Guinea, despite extending a deadline to wrap up financing.

The PNG LNG project partners also said yesterday approval of the project was conditional on clinching binding sales agreements with two more Asian customers.

The offtake deals, along with the outstanding financing, were expected to be completed by "early 2010", Exxon Mobil said.

Another project equity holder, Oil Search, had said in October that all four of the project's planned sales agreements were expected to be finalised in the fourth quarter, "prior to the final investment decision".

The project partners had previously indicated that they expected to make a final investment decision yesterday. Exxon Mobil's latest announcement shows the project is making progress, but some investors could be disappointed that all outstanding offtake and funding arrangements haven't been wrapped up yet. "Pending completion of these sales and financing arrangements, significant project activity will commence in 2010," the head of Exxon Mobil subsidiary Esso Highlands, Peter Graham, said.


The project, which will have the capacity to produce 6.6 million tonnes of LNG a year, is the biggest resources development undertaken in PNG and has the potential to transform the nation's economy by doubling its gross domestic product.

It is one of more than a dozen LNG terminals planned for construction in PNG and Australia designed to tap an expected surge in demand for cleaner-burning fuels from fast-growing Asian economies nearby.

PNG LNG has signed binding agreements for the sale of a combined 3.8 million tonnes per annum of LNG to China Petroleum & Chemical Corp, known as Sinopec, and Tokyo Electric Power Co, or Tepco. Preliminary agreements with Osaka Gas Co and Taiwan's state-owned refiner CPC have yet to be finalised into binding contracts.

Exxon Mobil said PNG had a 16.6 per cent stake in the project.

[ELYOB]

NGE seem to have lost the plot . Or should that be patch .

[Corporate]

NGE seem to have lost the plot . Or should that be patch .

what do you mean?

[Corporate]

short term, who knows...
long term, sure thing...

Im averaging down for the long term....
If NGE nears 12cents I will sell every CUE share I hold, and put it into NGE as my next major play...

:cool:
.^sc

Shrewdy are you missing in action? Price is getting very close to your "all in" call. NGE now have a pile of cash $20m+ and a market cap of approximately $96m. When are they going to start drilling holes to support this market cap? There permits do look very good.

By the way, have you run your eye over EWC? They are extremely poor at keeping investors informed. But, seem to be getting very close to contruction of there LNG plant.

[Corporate]

This thread on NGE has gone very cold. Who's still holding?

Finance just sorted for PNG LNG

http://www.asx.com.au/asxpdf/20091216/pdf/31mrp6bzybgg2f.pdf

[Huang Chung]

I'd be waiting for phaedrus to say its safe to get back in the water....

[Corporate]

I'd be waiting for phaedrus to say its safe to get back in the water....


Well at least for a change in trend. Or maybe once they get a farm in partner or a rig to drill 267..

[STRAT]

Is this an important juncture NGE has come to from a Tech point of view?

Short term support @ 18.0c broken today on the highest volume in a month (not huge though) and if it closes any lower it will be through the medium term trend line (up). Better bounce tomorrow eh?
http://www.sharetrader.co.nz/showpost.php?p=282383&postcount=81
Hope you have been waiting patiently to average down Shrewdy. Even Matty must be lookin hard now. I am

[mattyroo]

Hope you have been waiting patiently to average down Shrewdy. Even Matty must be lookin hard now. I am

Yep, I am following this closely, but still looks to be in a downtrend to me. Reckon there is a bit of support at both 10c and 11c, however if it were to fall below the psychological barrier at 10c, who knows where it's going.

Rather buy into an uptrend, than try and pick the bottom of something like this. Although, with the good fundamentals this stock has, it could easily turn on a dime.

[STRAT]

Yep, I am following this closely, but still looks to be in a downtrend to me. Reckon there is a bit of support at both 10c and 11c, however if it were to fall below the psychological barrier at 10c, who knows where it's going.

Rather buy into an uptrend, than try and pick the bottom of something like this. Although, with the good fundamentals this stock has, it could easily turn on a dime.Thats the one. Phaedrus will be pleased to hear you say it too Im sure.

[Corporate]

Strat, Matty - looks like there is a few of us keeping a very close eye on NGE.

I'm quite excited about my entry.

[Phaedrus]

Now people, I don't want any unseemly excitement here, but have you all noticed the buy signals being triggered by NGE's rise to 13 cents?

You all realise that it is the CLOSE that really matters, though. Right?

http://i602.photobucket.com/albums/tt102/PhaedrusPB/NGE1223.gif

[PhaedrusFollower]

Aurevoir the downtrend! Been watching this for 2 months now...waiting, waiting, waiting...

Thanks Phaedrus for the heads up.

Close is in 1 hour . . . are you supposed to do all your trading in the last 30 minutes of the day?

I will watch what happens to NGE for the next hour - but I'm in at 13.5c which hopefully is following the golden rule of buying in the uptrend :)

PF.

[STRAT]

Damn, another decent downtrend prematurely stalled by an internet chat site :D

[drillfix]

Yep, Im in too @ 13.5

Couldn't resist myself so swapped a small parcel of Dog stock to move into this one in hopefully the right time.

Another fine charting example there Phaedrus, cheers`!

[Corporate]

I'm not convinced. No real volume behind the move and still in a longer term down trend started in September. I'm looking for a break on volume above 16c.

[drillfix]

I'm not convinced. No real volume behind the move and still in a longer term down trend started in September. I'm looking for a break on volume above 16c.

Agree, Need volume,

Just because a stock breaks resistance doesn't mean its gonna go far/fast.

OR those wall of sellers at 15c + 17c to need to walk away accordingly, which imo is unlikely.

But then guys, its Xmas time, these ain't Power Markets at the moment, just quiet casual trading.

And don't forget there Folks, ASX closes 2pm today so the brokers can go and buy the mistresses Porche's :eek: :rolleyes:

[Crypto Crude]

Hey corporate,
in response to your questions

I have been watching NGE closely...
and averaging down...
this is cheap at 20cents...

I dont rate management for a few reasons...

1) they are talking up Panakawa (which is targeting oil)...
what we really want is Gas for PNG LNG
2) they will likely deal off our permits for a quick buck-> 50cent....
3) none of the execs worked for great companies (apart from NGE)...;)....
4) it seems no oil based expertise in development stage projects...
(certainly wouldnt sleep well on these cats)....

But in saying that...
We have Talisman on our shoulder, and we have the development starting in PNG next year...

This PNG LNG development is roughly equivalent to the extraction of 9.1 Billion Barrels of oil (BOE)...
and we have two permits right in the middle...
When the market is done valuing in this project OSH will be $25
STO will at $30 plus
NGE will be 50c for a near term takeover, 1-2 dollars down the line
HZN should near 70-80c
CUE should run with billion dollar proven assets...
MOS could be 30cents...

Buy Small oilers with permits positioned around International Stage LNG projects...
Look no further than NGE...

Yes Corporate...
very exciting...
:cool:
.^sc

[drillfix]

Out today at 14.5 due to Xmas LaaaLaaa reasons. (no I dont drink) :rolleyes:

Will revisit this one soon~!

[Corporate]

Great to see NGE benefiting from their new relationship with Talisman.

Obtaining siesmic over PPL 266 (100% NGE) while they are at it for PPL 261.

http://www.asx.com.au/asxpdf/20100105/pdf/31n1k1hqtb7019.pdf

[trackers]

Great to see NGE benefiting from their new relationship with Talisman.

Obtaining siesmic over PPL 266 (100% NGE) while they are at it for PPL 261.

http://www.asx.com.au/asxpdf/20100105/pdf/31n1k1hqtb7019.pdf


Good spotting Corporate, didn't pick that one up...That is excellent!

[STRAT]

I'm not convinced. No real volume behind the move and still in a longer term down trend started in September. I'm looking for a break on volume above 16c.Those were my thoughts too Corporate. Well, 16ish

[Corporate]

Those were my thoughts too Corporate. Well, 16ish

Strat, just revisiting one of my favourites. No volume on the last attempt at 16c and NGE looks like it is heading towards 11-12c again.

On fundamental I've been reading alot of OSH presentations on PNG LNG and this is going to be huge. NGE will be a long term winner. I've sold 4/6 stocks over the last few weeks and will take a chunk of NGE when the time is right.

[STRAT]

Strat, just revisiting one of my favourites. No volume on the last attempt at 16c and NGE looks like it is heading towards 11-12c again.

On fundamental I've been reading alot of OSH presentations on PNG LNG and this is going to be huge. NGE will be a long term winner. I've sold 4/6 stocks over the last few weeks and will take a chunk of NGE when the time is right.Yup, been in a bit of a trading range for the last month but following the rest down over the last few days. The question is how long to wait. Any time lines from a Fundie's perspective?

[drillfix]

The question is how long to wait.



Good question Strat.

I got in and no sooner did I get out as there started to appear a wall of sellers whom look like were determined to block the stock @16.5c so thought, nope, I will come back and buy at 20c if need be.

Sure glad I did as there would have been an opportunity cost for holding and current market conditions are not helping the thought of entry.

Sometimes the best trade is No Trade although I would like to take a seat at the table with NGE, but then as I would with a few stocks, but just not right now.

[STRAT]

Good question Strat.

I got in and no sooner did I get out as there started to appear a wall of sellers whom look like were determined to block the stock @16.5c so thought, nope, I will come back and buy at 20c if need be.

Sure glad I did as there would have been an opportunity cost for holding and current market conditions are not helping the thought of entry.

Sometimes the best trade is No Trade although I would like to take a seat at the table with NGE, but then as I would with a few stocks, but just not right now.Hi Drillfix.
If the current climate continues a sub 10c entry may be a real possibility. If there is fundamental value at 20c as some have indicated then a sub 10c entry would have to be good eh?

Got my eye on the ball and waiting for the bounce.

[buns]

Great time for a great announcement.

Lets start drilling!

[Crypto Crude]

What a great announcement...
This is the story, and now the key ingredient that I have been searching for in the next journey ive set out on...
And yet on another occasion a company of favourable investment has exploration drilling which will be hedged on possible failure, which are supported by this companies fundamentals...

Last time around CUE missed plenty of targets but remained stable on average... this time it could be the same thing in the mean time... but just like them, we are backed up by fruitful things going forward which will forever remain us on lock to those future riches... no matter what the market bumps throw at us...
"""PNGLNG.COM"""
:cool:
.^sc

[Corporate]

What a great announcement...
This is the story, and now the key ingredient that I have been searching for in the next journey ive set out on...
And yet on another occasion a company of favourable investment has exploration drilling which will be hedged on possible failure, which are supported by this companies fundamentals...

Last time around CUE missed plenty of targets but remained stable on average... this time it could be the same thing in the mean time... but just like them, we are backed up by fruitful things going forward which will forever remain us on lock to those future riches... no matter what the market bumps throw at us...
"""PNGLNG.COM"""
:cool:
.^sc

Agreed SC. I think NGE might turn very shortly. News on Talisman approval due today.

I want to see a break on 16c and I'll put significant skin in the game.

The estimated oil in place of 187mmboe (pmean) is only from the primary target. Could be multiple pay zones!

What I don't understand is why 267 hasn't been drilled by someone else a number of years ago? Oil seeps is usually a pretty good sign.

[Corporate]

and another extension in the farm in agreement approval!

[David Hardman]

A very detailed broker report out on NGE.

Was published on the 5th of Feb. Probably explains the recent interest in the stock

I like their valuation range - $.83 - $1.85

http://www.martinplacesecurities.com.au/publications.php

KEY POINTS:
• PNG now a world class hydrocarbon province.
• NGE has the largest onshore tenement area in PNG (51,800 km2).
• Risk adj. resource target > 505MMboe from un‐risked 2,500MMboe.
• Risk adjusted base exploration value> A$500m (A$0.75/share).
• Talisman Energy Inc is a key farm‐in partner in PPL 268 and PPL 269.
• Success at PPL 269 Sepalosiphon worth A$1,058m (A$1.59/share).
• Success in PPL 267 Panakawa worth min A$124m (A0.19/share).
• Major international corporate rationalisation underway in PNG.

[STRAT]

NGE has given off plenty of buy signals since the beginning of the month. That 16c mark seems to be likely to be a sticking point though.

[MPC]

Good bye 16 cents.

[Huang Chung]

At least I'm getting some benefit from the rise in NGE for the ASX comp.

[Crypto Crude]

gutted I didnt really load up at the bottom...
well... its ok... im happy...

HC, this stock alone could win you the comp...
:cool:
.^sc

[drillfix]

gutted I didnt really load up at the bottom...
well... its ok... im happy...

HC, this stock alone could win you the comp...
:cool:
.^sc

Speeding Ticket

This may give you a chance a little later or tomorrow Shrewdy.

Surely there is motive for this price rise, insiders maybe?

Hey, I think I picked NGE for the comp too. Probably be the best one but early days still :P

add: Either way, the day finishes with what looks to be a Tombstone Doji sitting up @ 17.5c, thus I guess the gap could act as support, although usually that gives a sign of an imminent pull back, imo.

One thing is for sure, markets at fragile pieces of work, that's for sure~!

Add Chart:
http://i45.tinypic.com/10hu2kl.png

[Huang Chung]

I understand there are rumours in the market of a possible takeover in the wings.

Who really knows.....

[Corporate]

Guttered that I missed the run up on this one. I've done a lot of research on it!

[STRAT]

Guttered that I missed the run up on this one. I've done a lot of research on it!I didnt :D
Got to say though the speeding ticket is a bit much. Like being pulled over by a cop for doin 53kmph in a 50 :rolleyes:

The new smilies suck. I can barely tell em apart.

Paper Tiger will be annoyed:eek:

[STRAT]

NGE holding its own today. Im a bit surprised actually. Are we expecting news?

[STRAT]

NGE leveling off as expected. Resistance at 18c but more important will it find support at 16c? If not I will be out for now

[PhaedrusFollower]

I'm out at 16.5c...but I will be back in on the next dip for sure...

[STRAT]

I'm out at 16.5c...but I will be back in on the next dip for sure...You didnt wait for the bounce. :D

[STRAT]

Nice bounce off 16c today PF. 17c close

[STRAT]

Theres some strength on the buy side this morning. Cant be because of the presentation yesterday surely?

[Crypto Crude]

phaedrus follower-I'm out at 16.5c...but I will be back in on the next dip for sure...

pf,
If your into skimming that is great, just make sure your in when this really blows... 1 month, 1 year, 3 years?.. I dont know when, I just know it happens...

sunken treasure mate... just have to wait for someone bad enough to want to pull it out...(pull it away from us)...
check out the locations...

X marks the spot... X spots the mark...
yeah boi...

:cool:
.^sc

[STRAT]

Well, support was there at 16c and so far today we appear to have broken through resistance at 18. Lets see what the close is like.

Green line is the POO

[trackers]

Government approval granted for Talisman farmout

http://www.stocknessmonster.com/news-item?S=NGE&E=ASX&N=586722

Good rise today to 18.5c, should move into 20's end of March, start of April in anticipation of drilling IMO - esp if oil price stays high and dow/all ords continues green

[STRAT]

Government approval granted for Talisman farmout

http://www.stocknessmonster.com/news-item?S=NGE&E=ASX&N=586722

Good rise today to 18.5c, should move into 20's end of March, start of April in anticipation of drilling IMO - esp if oil price stays high and dow/all ords continues greenHi Trackers,
Never mind the end of the month. How about today? Depth and Volume look OK too

[Crypto Crude]

Life is really good... and really good at NGE...
I've seen a few oilers in my time strat,
some of em I look at and still cant work them out (so I stay away)... some of them dont stack up (particulary GOM onshore US oilers)... many of the other ASX oilers do stack up but need something special about them to be really attractive...
And very rarely an oiler comes along and 10 minutes into researching it you just know...
NGE is one of those...

I think the day I found NGE I was telling all my trading friends about it at 24c...
I somehow managed to starve myself off until it hit 20c and then I moved in with uzzi buying a few.... utututututut....

I dont think this is a trading stock... this is an investing stock, This stock is too special to be selling willy nilly...but each to their own... as ive said in the past NGE looks like a junior BOW with as much potential... I agree with one of the posters on HC, NGE has a path to dollars per share, but im afraid we will be bought out before then...

Im not saying to go out and buy, NGE has run up...
you chartists will know when's best to buy?
Im not so good at picking entry prices but I think im good at picking stocks...
I tell myself that...
my instinct was to sell all CUE and go all in on NGE... In reality I pulled some strings but didnt pull them all...

NGE management team are a bunch of hopeless bananas... CUE is alittle different because their team is way qualified...
CUE NGE HZN have big business coming in PNG...

im unrelenting about this and CUE...
I wont change my mind until I see new info to prove otherwise...

walking with limp and a lean back in my step... swagga mate... great month, great 7 years its been...

check out this link two mins into this song... this is how I strut...
http://www.youtube.com/watch?v=sgZOQVV-tmI
LOL... real funny...


disc, CUE NGE, and bank rolling US dollars......
catch yous all up real soon...
:cool:
.^sc

[trackers]

Hi Trackers,
Never mind the end of the month. How about today? Depth and Volume look OK too

Yep, looking great. Hold a decent amount now, been chasing it up with inadequately priced buy orders since 12c... doh! still doing ok tho

[STRAT]

Chart shows steady increase in volume and accelerating OBV. Lets see what today brings. There was no shortage of sellers yesterday so the rise was nice to see.

[steamroller]

Too late to get in @22c? Doesn't look like stopping anytime soon...

[STRAT]

Too late to get in @22c? Doesn't look like stopping anytime soon...Dunno about that Steamroller. Looks toppy today to me. Who knows but you might geta chance a bit later on

[Crypto Crude]

Strat,
hopefully spudding first well very soon...
If that is the case then NGE will remain very strong, and could near 30cents...
The opportunity to buy would be on bad drilling results, which would see NGE fall back...
prospects look super strong, so the medium term will be hedged on bad results no matter what happens in our first outing...
super star stock...
ICN looking good today...
:cool:
.^sc

[steamroller]

Strat, you seem pretty onto it with your TA, do you think now would be a good entry point? I have been considering this stock, and CUE. This one seems a bit more speculative, CUE a few more knowns as they are already extracting...

[STRAT]

Strat, you seem pretty onto it with your TA, do you think now would be a good entry point? I have been considering this stock, and CUE. This one seems a bit more speculative, CUE a few more knowns as they are already extracting...Hi Steamroller. Fact is, Im a newbie compared to many here so I will tell what I think but I recommend you get a second opinion.

NGE was a clear buy in Feb but right now it has run out of steam and could go either way.

I would look at the drilling dates the Shrewd one is referring to in his post above and watch close to see how the Market reacts as those dates draw closer. I bought in around the end of Feb ( I think ) so if it decides to head south from here I have plenty of time to identify the trend change and get out with my shirt still on and maybe a pair of new socks to boot. I wouldnt buy this one right now but that could change tomorrow.

CUE
Much the same Im afraid. CUE was a buy in May 09 and a sell in early Oct 09. As a buy and hold you could do better than CUE but short term with most oil stocks rising CUE is bound to share some of that. Id be looking at todays close to be 22.5 or better but see no reason to jump in right now.

They were both a buy at the end of Feb and are still worth holding in my view if one entered then so I would say a hold but not a buy right now.

[trackers]

Notice of annual meeting..

They've moved it from AUS to PNG lol.. And they're looking to issue another 50mil new securities in the next 3 months to add to the 100mil added in Nov..

Not that impressed tbh, but considering they're behind on a bit of news I wouldn't be surprised to see some updates shortly to make up for the above.. thoughts?

[trackers]

Notice of annual meeting..

They've moved it from AUS to PNG lol.. And they're looking to issue another 50mil new securities in the next 3 months to add to the 100mil added in Nov..

Not that impressed tbh, but considering they're behind on a bit of news I wouldn't be surprised to see some updates shortly to make up for the above.. thoughts?

Wah lah: http://www.stocknessmonster.com/news-item?S=NGE&E=ASX&N=589300

:)

[Crypto Crude]

Hello all,
It would seem as though the market is gearing up for the drilling of Panakawa by re-rating NGE...
I just wonder if the market is churning this through all wrong as it looks like any failure at Panakawa will see the SP slip back down...
We dont know if NGE will hit the ground running on its first outing, but NGE WILL be running... It might take time...
The Oil/gas is for sure in them sands...
no doubt...

Did you know that NGE have 150% more acerage than OSH...
Thats Oil Search that had been pulling away from much of its International Oil and Gas portfolio to focus more resources on PNG... Thats OSH, a 5-6 Billion Cap...
Thats OSH and other multi national oil companies involved in Land Grabs within PNG...
And NGE has more land than them all...

Super star stock in the making...

I care not to discuss Panakawa spud... I will believe it when I see it...
:cool:
.^sc

[trackers]

Heya Shrewdie, been a while mate how's things?

Ann out:



Signing of Drilling Contract
New Guinea Energy Limited (NGE) is pleased to announce that it has finalised the
terms of and executed a drilling contract with Australian Drilling Services Pty Ltd
(ADS).
As announced on 17 February 2010 NGE had previously entered into an option
agreement with ADS to secure their Kremco K650 rig (Rig 6) for NGE's 2010 drilling
program on its wholly owned Panakawa Prospect in PPL 267.
NGE is currently organising required equipment and materials as part of the initial
stages of this drilling program and a timetable has now been drawn up as follows:
ACTION DATE
MOBILISATION Late April
SPUD DATE Mid May
All dates in the above timetable are subject to the timely completion of obligations by
third parties, environmental factors such as inclement weather

[STRAT]

NGE still looks undecided on direction to me. Some early warning signs that it may have peaked/turned but really too early to tell. I see what I believe to be support at 21.5c. If Id bought in recently Id be watching close for a close below that number.

Thoughts and low level abuse most welcome :lol:

[trackers]

Still look undecided Strat? Up to 25c today, looking great!

[STRAT]

Sure is. Volume up. Price up.

A close above 23.5 would be a good sign for those who have entered recently and looks likely.

Next hurdle 28.0. Holding above that or finding support there would be a bloody big sign.

Still undecided but leaning in the right direction. Im keeping mine for now :)

[STRAT]

There you go Trackers
Closed on the days high. That is a good look for tomorrow.
Steam Roller will be pleased as are we :D

[gazprom1]

Great finish today. If (and that is a big IF) the markets were to remain reasonably stable over the next month and the well gets spudded in May as planned, the share price could easily reach 52 week highs and reach into the mid 30's. It might be a case of selling before they hit the drill zone??!!! Views?? I do like the stock and its prospects though.

Gazprom

[STRAT]

Great finish today. If (and that is a big IF) the markets were to remain reasonably stable over the next month and the well gets spudded in May as planned, the share price could easily reach 52 week highs and reach into the mid 30's. It might be a case of selling before they hit the drill zone??!!! Views?? I do like the stock and its prospects though.

GazpromHi Gazprom
Thats one way to play it. Of course if they hit Oil you will have to cough up more dough to get back in.

I will be hoping that news will leak prier to any announcements and be looking for signs of that in trading activity.

[gazprom1]

Hi Start,

Agree generally. Problem lies in that if the stock has run hard before drill bit news then it will drop too quickly by the time you and I are able to get out. Also, if they have a moderate discovery and it has run hard then it could IMHO drift lower. I am hoping to lock in my profits and let somebody else take the risk of the BIG discovery. Risk/ return analysis. I will probably let a few run so I can enjoy.

Gazprom

[STRAT]

Hi Start,

Agree generally. Problem lies in that if the stock has run hard before drill bit news then it will drop too quickly by the time you and I are able to get out. Also, if they have a moderate discovery and it has run hard then it could IMHO drift lower. I am hoping to lock in my profits and let somebody else take the risk of the BIG discovery. Risk/ return analysis. I will probably let a few run so I can enjoy.

GazpromYeah, I guess the trick is to guess how hard is too hard. There will always be traders buying on rumour and selling before the fact but unless management and staff have their lips super glued together there is usually/often someone in the know throwing money in or taking it out as the case may be. Im not a short term trader usually but if I see bad signs in the lead up to these things I try and take notice and react accordingly. Still hit and miss as Im sure you know already.

I believe Value of the stock excluding the potential value of the drill is worth knowing/estimating in advance and most important as always of course is entry price.

If I had entered in the 20s rather than the teens I would take a slightly different approach. Tighter stops and all that.

[trackers]

Yeah, I guess the trick is to guess how hard is too hard. There will always be traders buying on rumour and selling before the fact but unless management and staff have their lips super glued together there is usually/often someone in the know throwing money in or taking it out as the case may be. Im not a short term trader usually but if I see bad signs in the lead up to these things I try and take notice and react accordingly. Still hit and miss as Im sure you know already.

I believe Value of the stock excluding the potential value of the drill is worth knowing/estimating in advance and most important as always of course is entry price.

If I had entered in the 20s rather than the teens I would take a slightly different approach. Tighter stops and all that.

Heya Strat,

Yep great close, all is looking great. I completely agree with what you're saying - Some extremely good analysis of the trading during the drill campaign could show a great payoff. I'm personally thinking of selling down maybe a third if I don't think I can get a handle on what the outcome may be.. No shame in selling down a bit.

As you say though, you'll be paying a massive premium if you plan to jump in on successful results - This is the sort of share that could gap up quite majorly. Exciting times

[STRAT]

Hey Trackers
You cant go broke selling at a profit. The trick will be in making the call to sell just before or just after eh?

I quite like this one and am not too concerned either way. I will ride it through unless I see dia warnings prier or it goes through the roof after. If it only stays above the trend line I would be quite happy to continue to hold

It must be starting to get colder down there on the Mainland

[Crypto Crude]

Gazprom-I am hoping to lock in my profits and let somebody else take the risk of the BIG discovery. Risk/ return analysis. I will probably let a few run so I can enjoy.

Sounds very much like you should get out at the top (which is still some time off)... The only way to look at this is that NGE will either half in value or it will go ballastic... For me personally, ive got the risk return odds to hold through because of all this support the stock has over the medium term/long term after the initial circus act, wire line fall (with no safety net)...
Yes, this will gap up and down...

If you sell, MAKE sure you get in at the bottom...

ALSO,
LOOK AT BUY...

Announced today that SYDney Basin well to spud later this year... BUY and MMR will be drilling one of the highest impact wells in AUS for juniors of the Year... the Other big target is that of CUE and MEO...

I reckon BUY will run to 20cents in the lead up to this well, and to sell out before drilling outcome...
Out of the two, NGE is the one to hold through...

CSG and PNG or get lucky in WA Sydney Basin... look no further than that....
damn, should have made room in the comp for BUY...
See you cats up the top...

:cool:
.^sc

[Oiler]

Sounds very much like you should get out at the top (which is still some time off)... The only way to look at this is that NGE will either half in value or it will go ballastic... For me personally, ive got the risk return odds to hold through because of all this support the stock has over the medium term/long term after the initial circus act, wire line fall (with no safety net)...
Yes, this will gap up and down...

If you sell, MAKE sure you get in at the bottom...

ALSO,
LOOK AT BUY...

Announced today that SYDney Basin well to spud later this year... BUY and MMR will be drilling one of the highest impact wells in AUS for juniors of the Year... the Other big target is that of CUE and MEO...

I reckon BUY will run to 20cents in the lead up to this well, and to sell out before drilling outcome...
Out of the two, NGE is the one to hold through...

CSG and PNG or get lucky in WA Sydney Basin... look no further than that....
damn, should have made room in the comp for BUY...
See you cats up the top...

:cool:
.^sc




Shrewdy I am impressed that you are so up on what was presented today in Sydney. Your beloved NGE flew through tonight with flying colours. This is a company with all the ingredients to be major player. The presentation speaks for itself.

[STRAT]

Hi Phaedrus.
A question if I may
Had NGE closed on the days low instead of the days high this would have been a perfect Harami.

Is there any significance in what we do have in terms of this pattern?

[Phaedrus]

That's a Harami as it stands, Strat.
Had it closed on the days low instead of the days high, it would have been a Harami Cross.
Regular Harami patterns are usually classed as "less powerful" reversal signals.
Because a Harami Cross contains a Doji, it is generally viewed as a more potent reversal signal than the regular Harami.

[STRAT]

That's a Harami as it stands, Strat.
Had it closed on the days low instead of the days high, it would have been a Harami Cross.
Regular Harami patterns are usually classed as "less powerful" reversal signals.
Because a Harami Cross contains a Doji, it is generally viewed as a more potent reversal signal than the regular Harami.Thanks Phaedrus

[Entrep]

Bullish Harami right?

[STRAT]

That's a Harami as it stands, Strat.
Had it closed on the days low instead of the days high, it would have been a Harami Cross.
Regular Harami patterns are usually classed as "less powerful" reversal signals.
Because a Harami Cross contains a Doji, it is generally viewed as a more potent reversal signal than the regular Harami.Hi P
The more I thought about this the more confused I became lol.:scared:

Would that be a reversal of the 3 day downtrend ( I assumed yes until I noticed the bearish divergence between sp and OBD 12th -20th April ) or a reversal of the 2.5 month uptrend.

Is there anywhere I can go to read about comparative weighting of indicators ?

[Phaedrus]

The more I thought about this the more confused I became.Any confusion you have Strat is caused by uncertainty as to which specific trend is being referred to. There are trends of three separate durations depicted on this chart.
(1) The "longterm" 3 month uptrend.
(2) The "medium-term" trends that comprise the longterm trend.
(3) The "short-term" trends that some of the medium-term trends may be further subdivided into.
I have marked every short-term trend change by an appropriately coloured diamond. Green for a change to an uptrend, red for a change to a downtrend.

http://i602.photobucket.com/albums/tt102/PhaedrusPB/NGE427.gif


Would that be a reversal of the 3 day downtrend? Yes. The trend refers to that which immediately preceded the Harami. In this case, it is a downtrend, because Candle (3) has a lower low and a lower high than candle (2). Do keep in mind that a Harami is classed as one of the "less powerful" trend reversal signals. Western analysis would simply view Candle (4) as an inside day and view it as denoting little more than short-term market indecision.


Would that be a reversal of the 3 day downtrend ( I assumed yes until I noticed the bearish divergence between sp and OBD [OBV?] 12th -20th April ) Whatever trend NGE is in is totally unrelated to any possible divergences. Any possible divergences are completely unrelated to and separate from any candlestick patterns. The bearish divergence you mention is only a Class C divergence, the weakest of all. The price is rising, but the OBV is essentially flat. This is slightly bearish, but keep in mind that this has been so for 2 months thus far - and the shareprice keeps on rising.


Is there anywhere I can go to read about comparative weighting of indicators ?There are plenty of books that will give you comparative ratings of the same class of indicator, but the problem for you here is where indicators of very different types are applied to different trends and are giving different signals. I think you are seeing this as some sort of contradiction that needs to be resolved, but the situation is plain if you are clear as to your aims.
Longterm? NGE is in an obvious uptrend and current price action is well above all of the 4 indicators plotted here. It is a "long-term" Hold, without doubt.
Wanting to trade more frequently? You would currently be out of NGE, no question. Candle (2) was a Doji such as is often found at turning points. Candle (3) completed an "Evening Star Doji", another reversal pattern.
A simple chap like me sees this as a very clearcut situation, with nothing at all to be confused about.

[STRAT]

A simple chap like me sees this as a very clearcut situation, with nothing at all to be confused about.Simple? I think not :D

Thanks Phaedrus for taking the time for such an in depth explanation. That answers all my questions including those I did not ask. As it happens I was less confused than I thought I was but do need/want to look closer at the relative value of indicators while not forgetting the time frames they apply to and if they are in fact related.

[bermuda]

Simple? I think not :D

Thanks Phaedrus for taking the time for such an in depth explanation. That answers all my questions including those I did not ask. As it happens I was less confused than I thought I was but do need/want to look closer at the relative value of indicators while not forgetting the time frames they apply to and if they are in fact related.

Hi Strat,
Whilst I have the utmost respect for chartists, the simple fact of the matter is that NGE are in the process of drilling up an 'elephant' that could substantially change this company. They are drilling over a target that is seeping oil at 5 bbls/day. That is what is driving the interest and the share price up. If it is a duster the share price falls. If it is a success then the sp will SOAR.

[whatsup]

Hi Strat,
Whilst I have the utmost respect for chartists, the simple fact of the matter is that NGE are in the process of drilling up an 'elephant' that could substantially change this company. They are drilling over a target that is seeping oil at 5 bbls/day. That is what is driving the interest and the share price up. If it is a duster the share price falls. If it is a success then the sp will SOAR.

To what IYHO?

[STRAT]

Hi Strat,
Whilst I have the utmost respect for chartists, the simple fact of the matter is that NGE are in the process of drilling up an 'elephant' that could substantially change this company. They are drilling over a target that is seeping oil at 5 bbls/day. That is what is driving the interest and the share price up. If it is a duster the share price falls. If it is a success then the sp will SOAR.No doubt Bermuda and if they are tight lipped around the drill the chart will only show the result after the fact. Dunno about NGE but I do luv that most companies leak info in advance like water through a salad spinner :t_up::lol:

[drillfix]

To what IYHO?

To somewhere on the Chart of course :P

Then chartists can come out and tell you where the price will fall if its a duster LOL

IMO, should a push come to shove then 16.5c is not out of the question.

(as there is major support there as well as the 200ma, atm)

[STRAT]

No doubt Bermuda and if they are tight lipped around the drill the chart will only show the result after the fact. Dunno about NGE but I do luv that most companies leak info in advance like water through a salad spinner :t_up::lol:
Hey Super B take a look at this. Speculation only on my part of course. Shrewdys recomendation for BUY. On the day of the announcement it went down but look at the sp and volume prier to that day. What do you reckon?:eek2: The odd big volume up day in the preceeding months marked by dots also of interest.

[evilroyrule]

i heard heaps of chatter round this stock shortly after the recent presentation. but since then it sort of flatlined. watching for it to break (again). interesting theory on the volume prior. i saw that and thought it was the leaving salad spinner, but only on basis of upcoming announcement. is it possible there is second ann to come and that is what sparked the buying moreso?

[STRAT]

i heard heaps of chatter round this stock shortly after the recent presentation. but since then it sort of flatlined. watching for it to break (again). interesting theory on the volume prior. i saw that and thought it was the leaving salad spinner, but only on basis of upcoming announcement. is it possible there is second ann to come and that is what sparked the buying moreso?Dunno Roy. I dont speculate on that kind of stuff but I am speculating it will have more legs. Putting this into perspective though I havent nor am I thinking of buying any right now.

[trackers]

Last day of April, bring on May and NGE's first big drill in its 100% owned (oil leaking from the ground in PNG) permit. Be interesting to see how the share trades from here on in.

NGE sparked a lot of interest at the Oil&Gas conference I hear.. A lot of analysts will be watching this company very very closely over the coming month.

The fellas at HC say that ADS are in the process of mobilising the rig to the drill site.

Disc: Currently very overweight in NGE (probably too much so)... But sitting on reasonable gains, at this stage.

[patrick]

TRACKERS
Thanks. Keep up the reports.
Also overweight but this Company has great potential. Needs luck, as all oil drillers do, and a few less shares given away too cheaply.

[bermuda]

I went to the NGE booth and spoke to Lucy, a very attractive blonde. Unfotunately my questions got a bit too technical for her and she put me on to Dan Kendrick .Such is life. Dan gave me a very detailed breakdown of what the company was about and mentioned that they wanted this first drill all to themselves. I see the sp has dropped a bit in the last few days. I was going to buy some but I don't like foreign countries...although he assured me all was well with New Guinea where they operate.

This is a speculative drill and NGE really like their chances

[evilroyrule]

bermuda, what was the word from the stx tent?

[STRAT]

I went to the NGE booth and spoke to Lucy, a very attractive blonde. Unfotunately my questions got a bit too technical for her and she put me on to Dan Kendrick .Such is life. Dan gave me a very detailed breakdown of what the company was about and mentioned that they wanted this first drill all to themselves. I see the sp has dropped a bit in the last few days. I was going to buy some but I don't like foreign countries...although he assured me all was well with New Guinea where they operate.

This is a speculative drill and NGE really like their chancesThanks for that Bermuda

21.5c was my line in the sand if you like ( support resistance and all that guff ) If that falls I will be out for now but it seems to be holding. There were warnings marked by the vertical red lines to get out if short term is ones thing or entry price was close to where we are now.

[gazprom1]

Last day of April, bring on May and NGE's first big drill in its 100% owned (oil leaking from the ground in PNG) permit. Be interesting to see how the share trades from here on in.

NGE sparked a lot of interest at the Oil&Gas conference I hear.. A lot of analysts will be watching this company very very closely over the coming month.

The fellas at HC say that ADS are in the process of mobilising the rig to the drill site.

Disc: Currently very overweight in NGE (probably too much so)... But sitting on reasonable gains, at this stage.

Hi trackers,

You are not the only one that is overweight NGE!!!! I averaged up yesterday and the day before at 21.5 and 22 cents (ave now over 19). Not 100% sure I have done the right thing given world financial markets but I am excited about their first drill and hope we get news this week. Would be nice to get some more news from Tailsman- an update just to keep up interest.

Buying opportunity on Monday???=)

Gazprom

[dagoldtoof]

New buyer and lurk because really struggle with graphs etc, ....Have bought NGE after reading here (only small $$$) but my big and best buy was LCT(Living Cell Tech), this involves Auckland Island Piggies and is very much NZ based , anyway hope youse guys/gals dont mind a learning lurker....cheers, off to dig up my tatties...

[gazprom1]

Someone has scooped just over a million shares a few mins ago. Maybe some news on the drill imminent??? I thought we would have had some news by now....should be a matter of days before we spud!!!

Gazprom

[trackers]

Someone has scooped just over a million shares a few mins ago. Maybe some news on the drill imminent??? I thought we would have had some news by now....should be a matter of days before we spud!!!

Gazprom

Hey, yeah good stuff! Smart money moving onboard. Highlight of my day was nearly making the front page of HC with a NGE post.. So close!! :(

ADS think they're going to spud at the start of June (http://www.australiandrillingservices.com/html/s02_article/article_view.asp?id=152&nav_cat_id=134&nav_top_id=57), if they're right then a few more weeks yet :( Will be nice to get an update soon however (such as the rig has landed!)

[gazprom1]

ADS think they're going to spud at the start of June (http://www.australiandrillingservices.com/html/s02_article/article_view.asp?id=152&nav_cat_id=134&nav_top_id=57), if they're right then a few more weeks yet :( Will be nice to get an update soon however (such as the rig has landed!)[/QUOTE]

Hey Trackers,

I did not see that ADS news until I openned your link....I was still working on the mid May schedule - a few days away. They really do need to update us!!!!

I bought some more jsut before your post at 19.5. It is a big drill for NGE and 100% owned.

Gazprom

[trackers]

ADS think they're going to spud at the start of June (http://www.australiandrillingservices.com/html/s02_article/article_view.asp?id=152&nav_cat_id=134&nav_top_id=57), if they're right then a few more weeks yet :( Will be nice to get an update soon however (such as the rig has landed!)

Hey :)

I agree - NGE statement of one month ago says mid-May so if it does fall into June its a bit of a delay... Having said that they did provide the usual proviso's of 'based on weather, govt, staff, etc etc etc' so I'd already factored in a delay personally and its definitely worth the wait!!

[gazprom1]

Slightly disappointed about the delay in the spudding of NGE's prospect. Now mid-June....was supposed to be mid-May. Amazing how we receive no updates for weeks when they know there is going to be a delay. Management or lack of it. Whiel I am disappointed, the prospect is good and will continue to hold. SP is unchanged. Will be interesting 12 months for NGE especially we strike oil/ gas in any sort of reasonable quantity.

Gazprom

[trackers]

NGE looks to me to be sticking to its resistance fairly well given the current state of the markets (though I've pinched Phaedrus' XAO indicators which may or may not be the best option for a junior oiler - I'm still learning lol). Also note that I'm using 1 day delayed data until my Interactive Brokers account is up and running and I've learn to plug it in to charting s/w:

http://iforce.co.nz/i/0eut2p5w.bmp

[STRAT]

NGE looks to me to be sticking to its resistanceNot sure Im with you there Trackers. Can you explain?

Seems to be some support at 19 over the last week. For anyone who sold a month ago it may be worth another look as ther are a few signals there

[trackers]

Sorry Strat I meant that resistance (to my eyes), looks to be holding up alright.

DMI shows that neither buyers nor sellers are really taking hold in any meaningful way, the sp is above its 90day M.A (need to add a caption to that!).. RSI's neither overbrought nor oversold... And the other indicators haven't made a push through that 50 mark from above to show anything decidedly bad.

So all in all, looks ok - And given the current state of the market, and what's coming up (potential in the fundamental sense), I'm happy holding this one for now

[trackers]

NGE is. on. fire - CEO buying 1/2 mil shares on market pre-spud

[trackers]

Anyone holding this one? Rig has travelled from aus, cleared customs, and is on site in Panakawa to drill their 100% oil seep permit in PNG (P50 202mmboe P90 24mmboe). Spud should be in the next few days... NGE also looking healthy technically.

I am holding a pretty decent swagger but might reduce my exposure a bit before results are due... will continue to hold a good amount though as I believe upside potential outweighs downside risk for this one



10 June 2010
The Company Announcements Office
ASX Limited
Update on Drill Rig
New Guinea Energy Limited (“NGE”) is pleased to advise that Australian Drilling
Services Pty Ltd’s (“ADS”) Rig # 6 has arrived at the Panakawa prospect in NGE’s
100% owned PPL 267.
NGE looks forward to providing further updates with respect to its drilling program.
Should you have any queries please contact Lucy Rowe or Gillian Nairn on 02 9250
1800.
Lucy Rowe

[STRAT]

Anyone holding this one? Hey Trackers. One of the few things I hold. Sold em when the 21.5c support line was broken but bought em back a few weeks later for about a cent less when I thought I saw a double bottom. Is one of the few oil stocks on my watch list that has been bucking the general trend over the last few weeks.

That said, Ive noticed a lot of stocks gaining relative strength ( RSI ) even though their SP hasnt turned, STX for example.

I reckon 8th - 10th May may prove to be the bottom for many if this general turn upwards in the market continues

[Entrep]

Holding this too - the potential is massive, drilling is gonna be exciting!

[denpal]

Strat, yes I'm in these, bought back in last week on news of the rig arriving. I rode them up last year too and then sold and watched.

The chart pattern on the daily looks like a reverse h&s, whilst on the weekly a cup & handle is forming, all good.

[Crypto Crude]

Today I was going to buy BAS, but instead I topped up my position in NGE...
The pricing was pretty attractive leading into the spud of Panakawa, as I thought sp should have topped out around 30c on spud... But I guess markets dictate....
but in saying that the pricing now means little especially if results go bad...
which I am surely prepared for...
I am holding all the way...

I am looking for another entry if Panakawa fails, or I might buy BAS...
very excited about nge's future prospects....
:cool:
.^sc

[Crypto Crude]

spud....

I am buying more stock if Panakawa fails...

its a win win...

:cool:
.^sc

[trackers]

spud....

I am buying more stock if Panakawa fails...

its a win win...

:cool:
.^sc

Yup glad everything is in place and the maiden drill is underway... This could be a make, but not break, drill for NGE... Upside is amazing.

Proposed TD is 2323 meters, but we could get lucky and hit oil before that (someone has mentioned 1800 in secondary reservoirs), so will be interesting to watch the sp action develop.

To be quite honest, I was hoping for a massive pre-spud surge in which to reduce my exposure a wee bit... But at this sp I'm happy enough to just hold through

[Entrep]

Happy we finally got the spud announcement. The upside is so exciting its hard not to buy more now we are drilling! In fact I will probably will as the ASX declines over the coming weeks and we get closer to oil ;)

[ELYOB]

Got out at 21.5c .... this is not one to hold through the drilling . Better to buy on the sniff ...... [hydrocarbon stuff ~!]

If this is a duster , there will be downside . Just study HZN , not doing to good in this market . Nothing special about PNG with Mr Asx Market . Also look at MOS and CUE in PNG ....Geeeeez!

[upside_umop]

Got out at 21.5c .... this is not one to hold through the drilling . Better to buy on the sniff ...... [hydrocarbon stuff ~!]

If this is a duster , there will be downside . Just study HZN , not doing to good in this market . Nothing special about PNG with Mr Asx Market . Also look at MOS and CUE in PNG ....Geeeeez!

Agreed. A duster at Panakawa wouldn't do NGE any favours....The drill bit is going quite slow, by the looks.

But with 5 barrels seeping a day, there must be something.

[STRAT]

Agreed. A duster at Panakawa wouldn't do NGE any favours....The drill bit is going quite slow, by the looks.

But with 5 barrels seeping a day, there must be something.Hi Oooomop and Shrewdy.

How long before they reach intended depth?

Lookin at the chart Im not seeing any sign of people in the know getting in before the gusher comes. Id be worried if the 18c support gives way.

Hi Denpal. Sold mine again at the last red line on the chart. Been pretty much on the sidelines with everything since. Ive been refurbing my boat so this hobby ( share trading ) has been neglected somewhat lol.

[bermuda]

Shrewdy and all holders. The very best of luck with this one. It could be a very big result. Am watching with great interest. When I asked management why they did not go for a farm-in partner they replied they wanted it all themselves.

[trackers]

Shrewdy and all holders. The very best of luck with this one. It could be a very big result. Am watching with great interest. When I asked management why they did not go for a farm-in partner they replied they wanted it all themselves.

Thanks Bermuda, I sold about 2/3's of my holdings just before spud at 20c, but I couldn't resist taking a stab and having some exposure. Most estimates have the well hitting reservoirs of interest within about a week, so I'll start to get nervous then.... If things turn to custard I'm more than happy to hold through until the Talisman program kicks into gear. Oil Barrel currently has the NGE well as a news item:



These are exciting times for investors in New Guinea Energy Limited, which is currently drilling ahead with its first well in Papua New Guinea. This is a go-it-alone venture for the ASX-listed company, which holds 100 per cent of PPL 267 in the South Foreland area of the island, compared to two of its licences in the Western Province Foldbelt where it has bagged Canadian independent Talisman Energy as partner.
Talisman is chasing major gas resources in PPL 268 and 269 but PPL 267 is home to a different play type, with NGE hoping to strike oil. The well is being drilled into the Panakawa structure, a possible 200 million barrel prospect, which seeps around five barrels of oil to the surface per day. The exciting thing here is not the confirmation of an active oil system but the fact that the oil is 35-degree API, different from the 55-degree API found in the Highlands region and therefore pointing to a possible new oil play. An oil seep, however, doesnt guarantee an oil strike; there are still many unknowns about the viability of the prospect.

More will be known in the coming weeks as the Panakawa-1 well descends to its planned depth of 1,600 metres. Last week the well was at 717 metres, having encountered intermittent zones of unconsolidated boulders within the cavernous upper Darai Limestone. A series of cement plugs were set to stabilize the hole, while it targeting sandstone reservoirs in the primary Toro Formation and secondary reservoirs in the Alene and Iagifu member sandstones as well as the Koi Iange Formation.

There is further upside, with a new lead delineated just 10 km from the Panakawa drill site. Whats more, the lead is in an easily accessible location via existing logging tracks, making it a candidate for a reasonably quick and cost-effective follow-up by PNG standards (some wells in these jungle frontiers are only accessible by helicopter, making for hefty drilling costs).

This is why the Talisman deal was so important for New Guinea Energy. First, the farm-in will accelerate seismic and drilling activities on licences PPL 268 and 269 as the Canadian company has committed to spent over US$100 million over the next two years. Second, it provides third-party endorsement of NGEs acreage from a player that has been at the forefront of 2009s land grab in the country: Calgary-headquartered Talisman has stitched together a serious acreage position in the western province of Papua New Guinea over the course of the last year through a series of acquisitions, corporate deals and farm-ins.

Under the farm-in agreement, Talisman will spend up to US$11 million on seismic and a possible US$90 million on a six well programme to earn up to 70 per cent of PPL 268 and PPL 269. There is certainly enough scope on these licences to keep the Canadian company interested with PPL 269 home to five mapped prospects and 34 identified leads, with both oil and wet gas potential, and the under-explored PPL 268 block on trend with Rift Oils (and, after a US$188 million takeover in 2009, now Talismans) Puk Puk and Douglas gas discoveries. The first Talisman wells under the farm-in agreement are expected to spud in Q4 2010.

The Canadian company has also agreed to co-operate with New Guinea Energy on some of its other licences, most recently by extending the seismic programme over its PPL261 licence into the north-east section of NGEs PPL 266. The seismic programme was completed in early April and results are due in Q3.

It all adds up to a busy timetable for the remainder of the year, with some near-term newsflow due in the coming months from Panakawa to keep investors interested until the big wells with Talisman start spudding in Q4.


http://www.oilbarrel.com/nc/news/display_news/article/new-guinea-energy-moves-ahead-with-maiden-well-in-png/771.html

[trackers]

NGE moving up on good volume, up 7.5% as it nears the business end of the Panakawa drill...Fridays drilling results said:



Drilling Report
Panakawa-1 Exploration Well, PPL 267, PNG
New Guinea Energy Limited reports that at 0600 PNG time the well was at a depth of 1246
metres and preparing to cement the 9.625 inch casing over the Darai Limestone section.
Progress for the week was 529 metres.
Biostratigraphic age dates from claystone samples immediately underlying the basal Darai
Limestone confirm penetration of the uppermost Alene Member of the Ieru Formation.
Compared to the preferred pre-drill model, formation tops are approximately 325 metres high
to prognosis.
The well is targeting sandstone reservoirs in the Toro Formation (primary target) and
secondary reservoirs in the Alene and Iagifu member sandstones as well as the Koi Iange
Formation. Proposed total depth of the well is approximately 2250 metres in basement.


I think the Toro formation was expected to be 1600metres, not sure where it is now that 325 metres are unaccounted for. A Geo on HC compared that anomaly to Interoils Antelope-2 in PNG, wouldn't that be nice!!!

[Huang Chung]

NGE moving up on good volume, up 7.5% as it nears the business end of the Panakawa drill...Fridays drilling results said:



I think the Toro formation was expected to be 1600metres, not sure where it is now that 325 metres are unaccounted for. A Geo on HC compared that anomaly to Interoils Antelope-2 in PNG, wouldn't that be nice!!!

I don't know much about oilers, but wouldn't 325m off pre-drill estimates mean their seismic data is a bit dodgy?

[trackers]

I don't know much about oilers, but wouldn't 325m off pre-drill estimates mean their seismic data is a bit dodgy?

Hey yeah I can only speculate but that definitely would seem to be the logical explanation!! But then again, Interoil certainly got a nice surprise from it - Perhaps its not easy to tell between the formations from the geo and they go by the historic zones from that area....And if thats the case, whatever the toro formation holds could be a lot larger - hydrocarbons, water, or nothing..... Who knows

[STRAT]

Hey yeah I can only speculate but that definitely would seem to be the logical explanation!! But then again, Interoil certainly got a nice surprise from it - Perhaps its not easy to tell between the formations from the geo and they go by the historic zones from that area....And if thats the case, whatever the toro formation holds could be a lot larger - hydrocarbons, water, or nothing..... Who knowsYou arent the only one speculating Trackers. A few punters have taken the plunge over the last 4 days hoping this drill will be good I reckon. Not huge though. Could all be down to the Copperites :D

[STRAT]

Capital Raising. They better have some good news to go with it or a good investor putting up the cash :O

[trackers]

Capital Raising. They better have some good news to go with it or a good investor putting up the cash :O

I'm actually highly impressed about this... A cap raising was coming no matter what and they've managed to flick off 15 million shares to Macquarie at pretty much zero discount. Shows a lot of faith to buy into the company at this stage (plus I would have been highly unimpressed if Panakawa failed then they did a cap raising with the sp in the teens.)

Disc: Though this company is undervalued long-term, you would have to be a real gambler to enter NGE before the drill results of Panakawa are known... So dyor, this isn't a buy recommendation

[Corporate]

Good warnings trackers...wait until the results are in before buying NGE.

[STRAT]

I'm actually highly impressed about this... Agreed, not too bad but the recent uptrend has stalled today

[gazprom1]

Update is not great...looks like SP will take a hit. =(

[buns]

Oh Oh! We going to get smashed here

[trackers]

Bugger, just missed my stop loss too. Oh well, this was the likely (but unfortunate) scenario. Will continue to hold a small parcel long term. Next question, wheres the bloody oil leaking from lol?

[upside_umop]

Ouch. There was always going to be downside if it failed. Who's in for the dollar cost average? And what will be the low?

There will be another opportunity, as long as this doesn't tarnish their other permits.

I don't, and haven't held any in the past.

[gazprom1]

Hi Trackers,

I am gutted. Thought that with the palcement at 20 cents there might have been a little more knowledge about the drill than was in the market. I have too many shares....average is just over 18 cents. What to do??? I have just returned from a very long holiday and have this ann. together with another one from MAK (no idea what that is but could be more bad news).

Yeah, where is the oil coming from??? Ann. mentioned elevated gas flows.....not holding my breath on those!!!!

[trackers]

Comments from the resident HC geo:



Okay elevated gas reading in the Toro can be one of two things.

1. The elevated gas readings are residual. Leftover hydrocarbons after migration to the surface. Global Petroleum experienced this after Avivi-1, where the seal was breached and the oil and gas seeped to surface. Panakawa could very much be in the same position.

2. We have a gas reserovir in the Toro. Remember that the contact sequence is gas-oil-water so oil could potentially be hosted in the lower formations of the Imburu sands (Dimigu, Iagifua and Hedina) or the Koi-Lange.

Koi-Lang and Barikewa mudstone are the jurrasic source rocks in the papuan basin. When kerogens are heated we have the carbon chains cracking, with mehtane (CH4) being the smallest in the chain. It is the lighest hydrocarbon and requires the most heat to be sperated and cracked. Thus we find it above the heavier oil sequences. Hence the common "gas cap over oil leg" statements.

It is far too early to know if we have a discovery. If you understand the contact sequence then you would be aware that the only thing that has changed is that their volumetric analysis in regards to oil has been scrapped.

If the Toro was still as thick as first interpreted, with the entire interval being gas bearing, we could have a multi-TCF gas play on our hands. Talisman could already be licking their lips.

and



nathan21 how is it bad? So we didn't find oil, but we found gas. We were aware from the beginning of the well, Panakawa had both oil and gas seeping from above it. The problem was NGE have no idea where the oil and gas was flowing from. We may have just found the source of the gas.

This ain't over till its over.

Yo either see the gas readings as residual or you see it as a discovery. We knew there was a strong chance the seal would have been breached, given the seeping hydrocarbons. We know after completion of drilling and logging, there is a chance this well will be tested.

This is largely a new frontier, NGE are playing in.

Each to their own, but for the NGE faithful I'd say hold on. I'm optimistic on this one.

[trackers]

Hi Trackers,

I am gutted. Thought that with the palcement at 20 cents there might have been a little more knowledge about the drill than was in the market. I have too many shares....average is just over 18 cents. What to do??? I have just returned from a very long holiday and have this ann. together with another one from MAK (no idea what that is but could be more bad news).

Yeah, where is the oil coming from??? Ann. mentioned elevated gas flows.....not holding my breath on those!!!!

Hey gazprom, yeah it sucks... I was really scratching my head over that placement too, what a bizarre move by Macquarie - I nearly sold out a few times over the drill but that was one of the things that kept me in too.

But on the bright side, they found gas and they still have 300 odd metres to drill. Also, share price is back up to 16c already, which is slightly higher than I expected on a failure. Maybe the smart thing to do is sit on them until the drill is completed and they've moved up the road to the next one, then sell on spud?

[Crypto Crude]

we all knew the risks were big...
once again a BESBS strategy won the day...
we were gambling...gambling with abit of class on this one....
NGE have that medium term hedge with some of the best permits ive seen, and PNG fairway...
biggest land acerage in PNG, positioned in the middle of land grab central, PNG LNG....
The prized permits are still there...
good opportunity to buy soon...
I am...
OSH to $15-$20 on this...
NGE will ride up back with the big boys, and will get a shot at becoming a big boy itself,
if it is not taken first...

win win situation with NGE now dirt cheap long term prospects...
catch you all in the next round,
will be exciting times with CUE drilling monsters...
drilling with a hedge...
we only lose time we dont lose money...
see yahs round...
:cool:
.^sc

[ELYOB]

Brunei and NZ now the hot plays .... time to move on ... dump coming !

[trackers]

Brunei and NZ now the hot plays .... time to move on ... dump coming !

NZ?? Not if recent efforts by AWE and NZO are anything to go by... Who do you mean?

[Crypto Crude]

you are good elyob but you have not done your research in this instance...
everything is pointing to fireworks South East Asia,
and PNG is it....
Its all happening, but the timescales are changing... they always do...


anyway, New Zealand is no good for speccy junior oilers, maiden well drilling....
too expensive...
one well for these minnows and its goodnight nurse...
CUE is the only real junior positioning itself for offshore drilling in New Zealand...
and it will do it hedged on possible failure...
oh popa...

you are starting to sound like Tricha when he was bagging CUE when the maret crashed
;)
.^sc

[gazprom1]

It has been a very bad day...I am hurting!!! I am torn between selling at 15 odd and holding to see what develops...it is going south on Monday if world markets are down. Also have MAK in a trading hold which scares the s*** of me. Lots of speculation on HC...

[Corporate]

Well bad luck so far for NGE holders. The primary target does hold any oil but the drill bit still has a few hundred metres to go.

I still think there is downside to come potentially. The market cap at $100m is still quite high.

[buns]

I'm with you Corporate, I really did not expect this to hold up so strongly, was it because the result came on a good day for the ASX? Traces of gas? Or people just waiting for that extra couple of hundred? This well was the company maker, now with no drilling on the cards for quite some time, NGE should go into a lull.. Boy what an effort to cap raise at 20c though, and for those feeling bad about loosing a few k, think about maq loosing millions over a few days. Actually,I don't feel much for them as they are the sole reason I diddn't sell before drilling!!

Any how, the risk seems far to great, the story is still decent, so I only took 80% of my holdings. Be it, at a 20% loss. However the upside was far greater, and it has been my first ever investment dig at a junior oiler so I've learnt from the whole thing. Anyway, this is far from over, I'll still be right on that NGE news stream till the end.

[Corporate]

I'm with you Corporate, I really did not expect this to hold up so strongly, was it because the result came on a good day for the ASX? Traces of gas? Or people just waiting for that extra couple of hundred? This well was the company maker, now with no drilling on the cards for quite some time, NGE should go into a lull.. Boy what an effort to cap raise at 20c though, and for those feeling bad about loosing a few k, think about maq loosing millions over a few days. Actually,I don't feel much for them as they are the sole reason I diddn't sell before drilling!!

Any how, the risk seems far to great, the story is still decent, so I only took 80% of my holdings. Be it, at a 20% loss. However the upside was far greater, and it has been my first ever investment dig at a junior oiler so I've learnt from the whole thing. Anyway, this is far from over, I'll still be right on that NGE news stream till the end.


Don't get me wrong. All the activity surrounding PNGLNG with uplift the value of NGE. However, it is yet to be seen whether NGE's permits are prolific gas producers or not.

Since they have a drill rig at the moment, I also wouldn't write off the possibility that they drill a second follow up well in the permit.

[Corporate]

game over for P1

http://www.asx.com.au/asxpdf/20100730/pdf/31rm271jkq9yxw.pdf

[buns]

Disappointing. I won’t say anymore…

That’s me all out. Saved a measly 15k of these in there just in case. Looking at moving this and some to top up my ACL and CFE holdings, both for the same reasons. Fundamentals are catching up, and trend lines broken for a bit of a rally.

[STRAT]

Hey Shrewdy, looks like your fav has bottomed out for now. RSI rising. Time for another look. Anything good coming up for these guys?

[Crypto Crude]

hey strat,
havnt done any research on anything for quite some time...
these sorts of investments take care of themselves...
I continue to hold CUE and NGE because the long term fundamentals are the same and they are sexy...
'hot momma'....

but I'm not a chartist, so I dont know when we get there...
but we do....
...
in the whole time ive invested in oil... working with time scales, production dates, market factoring (sentiment), drilling timetables, release of sensitive info has been the hardest to gauge... and it is these factors that majorly impact short term variations...

i continue to learn cos waiting so many years on CUE is not sexy moma... but the fundamentals are... NGE will take time...

so to answer your question...
is anything good coming up?...

oh daddy yeah...
but I dont know exactly when...:)....
so join me... NGE brighter than CUE...
and dirt cheap...

catch you around buddy... coming to auckland mid November
:cool:
.^sc

[STRAT]

catch you around buddy... coming to auckland mid November
:cool:
.^scThanks for the reply Shrewdy. Look forward to seeing ya in November

[ELYOB]

SC...

I feel NGE is a longshot specy now , Stanley could be interesting though .

CUE looks very good for the future . drilling schedule to Dec 2011 is the medium time target . see presentation out.

CUE over NGE anytime

[Crypto Crude]

I feel NGE is a longshot specy now , Stanley could be interesting though

hey ELYOB,
I agree that this is the market sentiment... that market sentiment is all doom and gloom pricing...it usually is, even in good markets...until projects are proven up with production revenues we are faced with discounted oilers...it has its advantages..... this market sentiment is what you and I have feasted on for as long as I can remember...

If PNGLNG were not so then id totally agree with you...

PNGLNG->
$15 Billion invested by large oil-multi national oil for the initial stage on 9 TCF gas with upside... this will do the talking...
960 Million Cubic feet gas per day...
With NGE a junior with 1.5 times more land, even out muscling that of Oil Search...
<<<OSH>>>
and the most acerage out of any oiler in the region... cant believe it...
still get that tingling feeling... googebumps in the night mate...
With NGE critical permits (2) boarding on the main fairway (posted overview before),
then it is just not possible in my mind to think that NGE couldnt top $1 or 10...

... it will require the years of development into production of the PNGLNG project that will re-rate the region, and with it the main fold belt PPL277, a permit the size of the main fold belt in its own right is special...
and PPL269 on the dog leg positioned around billion barrel fields... these permits will strike big, or there will be a suitor... sure thing...

hahaha... these are the two permits that the analysts had valued less... remember they valued Panakawa permit the most... we laughed...

I talked about the disaster of drilling Panakawa, as it was less suited than the northern permits to tie into PNGLNG... so the failure of this well will remain insignificant to the future direction of this stock...


I dont know why you cant see it...
This is much bigger than just NGE...
Yeah the board is full of turds, and I dont think they have our best interests at heart... but its all we got on the entire market for this leverage in my favourite region.....


The only thing that can stop PNGLNG is.....................
......... well......not much... hahaha....

while the development of PNGLNG and production remains forward looking, then so will I...
This has potential to be much much bigger than CUE... Artemis, Caterina, and Matariki combined times two...

billion barrel strikes with infrastructure, export markets, and big oil opening up this opportunity as each day passes...

theres many many years in all of this...
when it all starts to happen, it will be too late...
last two years on the market, nothing seems to be too late...

Times will change...


To me 10cents is a steal of a long term price...
my opinion only...
good luck all my friends in whatever you invest... If your into airelines your a complete bird brain... but I wont think any less of you......
:cool:

[STRAT]

This one popped its head up today. Back on watch

[steamroller]

Massive buyers above 10c, not much to feed them with... Can we break the 14.5c barrier??

[STRAT]

Yup,breakout on increased volume on a lack luster day is a bloody good sign. Wonder whats up

[Crypto Crude]

hahahaha...
whats up...?
one buck for starters...
could get taken out first...could take up to 4-5 years...
should be much sooner...

2 permits on fairway heaven...
nothing like this on the market...
some of the CSG stocks come close...
Management will probably sell out on us...

dream stocks...
I live and stand by until market information changes...
all is on track at this stage...

Booo Yahhh....
:cool:
.^sc

[STRAT]

hahahaha...
whats up...?

Booo Yahhh....
:cool:
.^scThats all great Shrewd Dude but I mean Whats up right now.

[seaosh]

There was some discussion over at this forum: http://malumnalu.blogspot.com/2010/1...s-despite.html

Possibly a reaction to that?

But hopefully something is brewing.

[snackpack]

NGE have announced an extra four prospects within PPL 265. Comparing the illustration to an earlier version it seems that they have re-defined the shapes of the existing eight prospects within the licence. Using my eyeball-ometer it would appear that they have doubled the total area of the prospects (bearing in mind there is now 12 of them within the licence). Seismic surveys for PPL 265 set for 3Q 2011. The new zones are 1km deeper than the original exploratory wells drilled, if I understand the text correctly.

[snackpack]

NGE up 12% with 11 million shares traded today after a presentation to the PNG oil and mining conference. Haven't had a chance to read the presentation yet.

[snackpack]

NGE have raised $12.2 million selling 100 mil shares to Quantum partners.

[Crypto Crude]

Oh yes Snackpack,
Soros is in...


The key points supporting NGEs future is with PNG LNG... and they are as follows,

1)agressive maturing of reserves on the Foldbelt for EXPANSION...
2)delivering Gas Supply to support growth of LNG business...
3)3 Million work hours of FEED (plan of facilities to commercialise)... spearheaded by the large oil... Exxon...
4)Early works to make development startup run more efficient...building bridges, clearing roads...
5)Petter Botten (OSH MD) sums it up well.."its not just a company maker, it can also be a country maker"
6)The huge bonus that PNG LNG is leading timing (1st production) of its LNG competitors... first mover advantage, and less competition for supply contracts as other LNG projects come on stream later.....
7)PNG LNG reserves supported by more than 9 TCF...
with huge upside (NGE)...
8) very inexpensive to complete a well, 10-15 million...

Just look at OSH from $5->$7...

Still a good few years in this to go,
But I cant see many, if any juniors lining up billion barrel potential on a risk scale like this...
I could be wrong,
but its all supported by PNG LNG...


:cool:
.^sc

[Crypto Crude]

sexy jump today...
yeah boi...
worth a few bucks,
the market hasn't seen it yet...

:cool:
.^sc

[COLIN]

sexy jump today...
yeah boi...
worth a few bucks,
the market hasn't seen it yet...

:cool:
.^sc

And Soros (Quantum) has now taken up his second tranche of placement shares (65 mill) taking his total holding to just under 20%.

I'm happy to be holding - no, that's an understatement, delighted!

[Waiuta]

I can't seem to find what the PPL stands for in regards to the exploration blocks. I assume the 'L' is licence, but PP?

[Waiuta]

This is as close as I've got...............

Pakistan Petroleum Limited is a Pakistan based company, it was incorporated June 5, 1950, when it inherited the assets and liabilities of the Burmah Oil Company Ltd. (http://encyclopedia.thefreedictionary.com/Burmah+Oil+Company+Ltd.) which initially holds 70% of the share with the rest mostly held by the Government of Pakistan (http://encyclopedia.thefreedictionary.com/Pakistan) (GoP). Currently, GoP hold 78.35% of the shares, International Finance Corporation (6.09%) and institutional and individual investors (15.56%).
The company is headquartered in Karachi (http://encyclopedia.thefreedictionary.com/Karachi). The two figureheads of PPL are MD and CEO Khalid Rahman and GMF and CFO Kamran Wahab Khan.
The company operates major oil and gas fields including Sui gas field and has non-operating interests in other fields and has an interest in an exploration portfolio onshore and offshore. The company is now planning international exploration in partnership mode.
Highlights for the Year 2008

Sales Rs 45.7 billion Profit before Tax Rs 30.4 billion Profit after tax Rs 19.7 billion Cash Dividend of 155 % plus 10 % Stock Dividend

[Waiuta]

Found it at last

“PPL” means petroleum prospecting licence how thick can I be?????????