OBL - Oil basins

[boysy]

An interesting play

http://www.oilbasins.com.au/

MC - around 5 million though in the middle of a rights issue @4 cents fully underwritten. MC after rights issue at 4 cents will be around ~10 million

Drilling starting within the next month targeting 270 mmbl. highly speculative and last roll of the dice but they have some hefty targets.

latest presentation

http://www.asx.com.au/asxpdf/20100906/pdf/31sbz8mxs51d35.pdf

[boysy]

ann report out http://www.asx.com.au/asxpdf/20100909/pdf/31sdrktgs4lkm9.pdf

some good readig its make or break time for the company as they have to drill page 11 gives a good overview of the Backreef play

Has to be drilled by the ed of OCTOBER OR will be lost

[boysy]

rights issue under subscribed drilling must be done before the end of October could be an interesting play over the next month or twon

[soulman]

Wow, that suprise me. With the free options, I thought it would be fully subscribe and massive demand. I don't have OBL anymore and my last sale was for 6 cents on the head and 4.7 on the options. Would have loved to participate in this cap raising.

[boysy]

Yes it does look a interesting play if they even have a sniff of hydrocarbons the sp should fly.

[boysy]

so the directors have taken the shortfall they must be confident of at least getting the rig on sight and drilled to td before the deadline any sniff of hydrocarbons and it will be away

http://www.asx.com.au/asxpdf/20100924/pdf/31spq0kg1vst4m.pdf

[boysy]

interesting week coming up blackreef should spud this week and we have a wait of around 10 days before target depth reached.

[boysy]

current market cap $12.5 million at 4.7 cents a share. will be interesting how it all pans out they are targeting 270 million barrels and TD 1800m

[boysy]

spud date predicted to be tomorrow will be an interesting micro play

[boysy]

looks like the action is starting to happen they should annouce spud anytime now sp up 11% on 11 million volume

[boysy]

up a further 10 % on 10 million volume in the first few minutes of trading up to 5.5 cents

[boysy]

finished on 25 million volume sp finished up 8 cents on 5.3 cents spud date should be tomorrow good ann out today detailing the drill and the process in the coming 2 weeks

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01106535

[boysy]

well should reach target depth this weekend so its make or break on monday as per latest release

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=OBL

[Oiler]

well should reach target depth this weekend so its make or break on monday as per latest release

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=OBL

Boysy, I was in Sydney on Friday at an Investors presentation at which OBL made a presentation. There was a lot of "buzz" afterwards and as you say Monday will be the telling story. Good luck.

[boysy]

TD reached they are drilling further

http://www.asx.com.au/asxpdf/20101025/pdf/31tbn4w9m41ckq.pdf

[Anna Naum]

Very poor results, dissapointing at best!

[boysy]

Could still be life in this one yet the interesting plays are deeper than the TD they mentioned so they could still have some good news left at least they got to the desired depth before the end of the month.

[boysy]

Interesting latest release they drilled down to 1800m well worth a read logging underway

http://www.asx.com.au/asx/statistics/displayAnnouncement.do?display=pdf&idsId=01114279

[boysy]

Well had a bit of a bounce yesterday looks like the good news from the canning via bru could rub off on obl. Any good news from bru has to put a positive light on obl. Will be interesting to see if bru will back in to get 30% of backreef for repayment of 90% of well cost.

[boysy]

up 17% to 4 cents on 10 million volume. Looks to be some serious buying pressure before the AGM on monday

[boysy]

up another 10 % On AGM Information well worth a read things at backreef looking the goods cash getting low but lets hope a farm out is near at hand.

AGM Presentation
http://www.asx.com.au/asxpdf/20101129/pdf/31v726m62fmryp.pdf

Petrophysical Assessment of Backreef-1
http://www.asx.com.au/asxpdf/20101129/pdf/31v6xwh8v25hnt.pdf

[yogi-in-oz]

:)

Hi boysy,

OBL ... this latest news has been received well ... !~!

Looking ahead, we are expecting a time cycle to bring a strong and
positive focus onto OBL, especially around 15-16122010 ... :)

have a great day

paul

:)

=====

[boysy]

Seems to be a bit more interest in OBL of late with a market cap of ~10 million and a potential oil find its looking like it could run hard if the seismic comes in good confirming a significant 2c potential resource

[boysy]

sp up 10% to 3.6 cents on 4.5 mill turnover in the first half hour of trading. Usually a leaky ship will be interesting if anything comes of it

[boysy]

Well no news as yet the backreef report should be out any week now which should give the sp a kick if it sparks some interest in the acreage. You certainly seem to get alot for a MC of ~9 million must be primed for a run if any farmout is announced.



http://www.asx.com.au/asxpdf/20110404/pdf/41xtzgl6vz1c7w.pdf

http://www.oilbasins.com.au/oil-basins-review-by-miningoilgas-april11.pdf

[The Big Ease]

ANybody get in on this?
Going on quite a run. 100% in a month.

[boysy]

Holding the OBLOA's and OBLOb's could be an interesting run if they get some results on drilling or the farm out front.

[Stumpynuts]

ANybody get in on this?
Going on quite a run. 100% in a month.


I bought in last year @ 2.7cents, not disappointed at all.

[Stumpynuts]

I bought in last year @ 2.7cents, not disappointed at all.


Topped up @ 3.3cents.

SP has been holding steady at around the 3c mark lately.
:)

[boysy]

you have to question if any of the positives sp appreciation of neighbours will finaly rub off on OBL. They need a farm out and someone with deep pockets they certainly have alot on their plate lets just hope someone else wants a slice of it.

[Stumpynuts]

you have to question if any of the positives sp appreciation of neighbours will finaly rub off on OBL. They need a farm out and someone with deep pockets they certainly have alot on their plate lets just hope someone else wants a slice of it.


Fingers crossed aye that OBL can reach the same SP as NSE and BRU.

[Stumpynuts]

you have to question if any of the positives sp appreciation of neighbours will finaly rub off on OBL. They need a farm out and someone with deep pockets they certainly have alot on their plate lets just hope someone else wants a slice of it.

Boysy, today's volume has buyers outnumbering sellers @ 3.7 cents.
Looks like a good day, hopefully then a good week or even a good year! :)

[boysy]

yes lets see what happens once derby title is finalised and they test backreef should be plenty more upside from here

[boysy]

Been plenty of interest in the other canning basin plays could get interesting once a rig has been finalised

[Stumpynuts]

Been plenty of interest in the other canning basin plays could get interesting once a rig has been finalised


Look's promising.
OBL's buying volume and the SP have certainly picked up over the past few weeks.

:)

[boysy]

Stumpynuts i know i for one was worried about the cash situation but the two recent placements have put that concern to bed. People now realise OBL has enough cash to test backreef and enough working capital to get some runs on the board in other permits perhaps. Still a minow in term sof MC but if they could prove up a fraction of the ~500 odd TCF resource potential in ther derby block they would be onto a winner the shale plays here could be huge.

[Stumpynuts]

Stumpynuts i know i for one was worried about the cash situation but the two recent placements have put that concern to bed. People now realise OBL has enough cash to test backreef and enough working capital to get some runs on the board in other permits perhaps. Still a minow in term sof MC but if they could prove up a fraction of the ~500 odd TCF resource potential in ther derby block they would be onto a winner the shale plays here could be huge.


The only thing for me is the cash raised in the placements doesn't leave them much room for errors and/or setbacks.
Here's hoping a drill is secured for Backreef and then drill results are positive, hopefully leading to a farm-in with one of the major companies in the area .........

:)

[boysy]

up strongly (17.5% on 15m volume) on large volume looks to be some more interest in the canning basin plays plenty of catch up here when you look at BRU

[Stumpynuts]

up strongly (17.5% on 15m volume) on large volume looks to be some more interest in the canning basin plays plenty of catch up here when you look at BRU


The first thing I said when I saw today's SP was an emphatic - F%$#!
And my work colleagues heard me say it out loud.....

:)

[slimwin]

Phew, snuck in at 4c yesterday. Where to from here though...

[boysy]

Biggies from here will have to be getting a rig to test backreef, Getting derby block title negotion issues resolved and hopefully a farm out on some front. Clearly they need to get someone with deep pockets to help pay for all of the above they have some cash but not enough to test more than backreef i would think. Hoepfully others continued work in the region will help OBL get further ahead but at some stage OBL will need to get some runs on the board themselves instead of living off the hype of others

[boysy]

Volume and price still picking up will be interesting when we see who is buying in as the last few days around 10-15% of shares on issue have traded hands. Looks like BRU hard work in the region is finaly starting to rub off on OBL will be interesting to see how the companies in the area can prove up the hype which is building.

[soulman]

Phew, snuck in at 4c yesterday. Where to from here though...

Well done fellows. OBL has run hard and fast with plenty of volume. The BRU factor has kicked in.

[boysy]

certainly looks to be gaining some legs and plenty of volume today glad im holding the options

[boysy]

up almost 15% today on almost 10 million volume to 5.5 cent sure has come a way since 1.9 cents a few weeks back

[The Big Ease]

BRu has done wonders for the basin.
I think the investment community is only juuust starting to wake up to what the basin holds.
The whole places is HUGE and saturated.

[boysy]

Could be huge if things do pan out how the operators are hoping success in the basin looks set to pay off for all parties with interests in the area.

[hal]

Could be huge if things do pan out how the operators are hoping success in the basin looks set to pay off for all parties with interests in the area.

There have been a few wells drilled already and by the end of the year maybe another 6 to 8 wells will be drilled. By then we should know a lot more.

Hopefully the local companies won't be taken over by then because the way it is going this basin is looking very good.

[boysy]

Things seem to be picking up speed in the canning basin can only be a good thing for OBL

[boysy]

52 week high the options are firing big time heads up 7% on 16 million volume this seems to be firing on all cylinders

[boysy]

Looks set to be another good day OBLs chart starting to look like MAD up over 200% off the lows of a few weeks ago

[Stumpynuts]

Interesting reading from Monday's report innit?

[boysy]

Certainly looks to be a few promising signs on the horizon would be good to get the KLC issue out of they way seems as though majors are already sniffing around then theres the testing of backreef and USG potential could go much further but we need some good news to move up from here one would think

[boysy]

sitting up 8% to 6.7 cents on 6 million volume looks as though obl is playing catch up with BRU

[Stumpynuts]

Tee hee hee!!!!!

Touched 7 cents

:D

[drillfix]

sitting up 8% to 6.7 cents on 6 million volume looks as though obl is playing catch up with BRU


Yup, nearly there.

All it needs now is about 10 sets of Step ladders and a Nasa Rocket Launcher and it will be there in no time :p LOL

Tell ya what though,

That 60 minute chart and EMA layout upward is superb.~!

[boysy]

Speaking in terms of catching up to BRU in terms of gains over the past 18 months

[drillfix]

Speaking in terms of catching up to BRU in terms of gains over the past 18 months

Yep no worries there boysy, I was just toying with the phrase.

I still really dig the hourly chart on OBL though, worth a look for many I reckon.

Check this out folks!

OBL 60 Min Intraday > http://postimage.org/image/5uog9nby9/

A fine example of a slow paced but confident Hourly chart, excellent ~!

[Toulouse - Luzern]

I agree.
Great chart.
The EMA are fanning out nicely.
I compared OBL, NWE, NSE charts over 3 months, all have nice trajectories.
Comparatively IMO SXY (previously VPE) is not quite as good.

[boysy]

at 52 week highs closing at 7 cents will be interesting if this one will run some more seems along time ago but 2 months ago the sp was 1.9 cents

[boysy]

up another 9 odd percent on opening volume of 3 million to 7.6 cents seems to be doing a mad at present

[drillfix]

Yep, and looking at the chart, at some stage it should come back down to 7c again to test the 13ema on the 60min chart.

Also keeping an eye out on the daily indicators which is showing most of the indicators not only overbought but also exhausted.

I wonder if it will take a breather and consolidate some where (maybe at 7c?) so the indicators then get a chance to cycle through.

[Stumpynuts]

Gwahahahaha,

Someone put a buy order of 150,000 @ 8c this morning pre-opening, but they pulled it out at last minute.
Oh well it will probably go higher than that anyway.

:D

[boysy]

seems to be firing up 13% on almost 8 million volume at 7.9 cents is 8 cents on the cards today OBLOA at 6 cents and oblob at 5 cents

[The Big Ease]

WA shale is going nuts!
NWE, BRU and OBL bolting.
It looks like we're just playing catch up to the Cooper.

[boysy]

certainly does OBL up 19% today to 8.3 cents on 16 million volume OBLOA's up 16% to 6.5 cents and OBLOB's up 28% to 5.5 cents people seem to be getting very interested in the canning

[Crypto Crude]

>>>>>>OBL>>>>>
<<>>>><<<WEEEEEE<<<<<<

this is such a strong bull,
and you aint seen nothing yet...


:cool:
.^sc

[boysy]

People have suggested Obl have the best location in the canning the shale gas figures in the derby block are giggle worthy with potentially hundreds of TFT in each of the 6 evident shales Bru work in proving up the basin is helping Obl fly up 400% in 3 months

[soulman]

I see your other holding in PPP boysy. I hold that as well. Just amazing that they are sitting on $95 mil cash and market equal to that. With all their oil asset basically free. Definitely not selling any under 25 cents.

Thanks for the OBL ride. A nice few weeks with the likes of NSE, OBL and MEO going great guns. Looking like a shale gas boom at the minute.

[boysy]

Soulman its rather funny to see PPP sitting on more cash than its MC at this rate obl could be a larger company in a few days at this rate. PPP could do with some investments though they have been talking for far too long about investments.

[soulman]

Also that 5 cents return they flagged at their AGM.

Still, can't find a more undervalue stock in the stock market ATM than PPP and GLL ($35 mil cash and mrt cap at $27 mil).

[boysy]

Yes that 5 cent return would be nice about now will be interesting to see how they spend the remaining funds still think Vietnam is a slow cooker in the background with very little downside with so much cash

[boysy]

Back to OBL things seem to be positive offshore will be interesting to see if the recent run can continue no doubt OBL is starting to be seen by investors who otherwise only knew NSA NWE or BRU

[boysy]

What a start to the day touched 10 cents up almost 20% and 10 million volume in the first 30 mins has dropped back to 9 cents but wow people are trading this one right up

[boysy]

up 13% to 9.3 cents on almost 16 million volume

[drillfix]

With the view of the candles they are getting bigger and bigger, like the sign of traders all over it just about.

Watch out should it close lower as this will trigger a shooting star which may give it a slight setback, but then with the stock in this sector atm it may also not matter.

[boysy]

Very interesting day huge volume and interest will be interesting to see how it ends the day

[Stumpynuts]

Touched 10c today before dropping back down,
Allllll gooooood.

I wasn't expecting 10c to be reached until the end of the week.

[drillfix]

Bit of a bearish candle forming here folks.

Guess the profits are being taken but end of day will tell the story.

[boysy]

Huge day ended on a positive note up 6% huge volume of 47 million shares traded

[drillfix]

Ahh well, nice run although Market giveth, Market taketh.

Intraday showing weakness and profit takers cleaning it off the table in the short term.

Here's a chart

OBL Intraday > http://www.imageurlhost.com/images/0o9lbvumh5b43oqepi5a_OBL.png


I think there is a real chance that a Gap @ 7c will get filled eventually or depending on what ann's come from the co.

A target on the left lower chart of 7.1c at the 60 day EMA would seem likely with also that suspected gap fill drop to 7c also which may only last for 1 second and perhaps bounce from there? Who knows, but either way the indicators seem set to cycle through.

Of course, all is IMO, but may take a small position should the above unfold.

[boysy]

ended the week at 8.4 cents on some strong buying will be interesting to see if the momentum can be maintained next week

[soulman]

Should be boysy. I guess the anticipation for the drilling result is the primary reason for OBL surging SP.

Lucky this week to pick up more OBL at 7.4 but have sold out unfortunately. Definitely looking to re-enter.

[boysy]

OBL Farmout of up to 20% of Backreef Area

http://www.asx.com.au/asx/research/companyInfo.do?by=asxCode&asxCode=OBL

[soulman]

Not a good news boysy. Apparently.

[boysy]

Clearly mr Market thinks not i think a 5:1 promote aint a bad deal at the end of the day OBL will have to put no money upfront to test the well

[boysy]

well not much longer to wait until we find out if OBL has something at backreef

[CMo]

Trading Halt announced... results on Monday.

Fingers crossed.

[Entrep]

Indeed, holding GRK here

[boysy]

Not holding out much hope but if they have found some oil this thing could go off big time

[Crypto Crude]

I recently held grk which has a stake in this backreef... I felt that after listening to OBL CEO Neil Doyle speak at the 20:20 series I decided to sell out...

The trading halt infers the company has found something worthy to call for a halt... so I see this as quite positive...

and there could be abit of hype around the find...
Doyle suggests that flow rates will be low (around 50 BOPD) and that In production the oil will be stuck in the stem of the well and needs a pump to bring it to surface... backreef is also about derisking other targets in the region...

This could do anything on the upside... with the small market caps, and the Canning basin... I will be watching very closely next week...
:cool:
.^sc

[boysy]

Yes Shrewd i think your bang on the money in terms of the oil being found i would be surprised if it flows at all but if it does and BRU has a positive result from deepening then the canning could get the spotlight shone on it once again.

[soulman]

This has been a flop lately. I was out in the mid 5's. And I am looking to get back in as it does look oversold.

Maybe the drilling result is worst than expected. I am not good at reading announcement.

Just like VEC announcement today.

[boysy]

Seems to be heating up once again with BRU showing their hand in derby lets see how this pans out over the next few weeks heading into the drill

[boysy]

Strong start to the day following the ann up 30 odd percent

[Crypto Crude]

Boysy,

A new angle for OBL is in place, and im excited about that...
but the feel to me is the company had its nibble and it didn't work...
and other plays around are too strong to think about Oil basins as a serious investment...
For the Canning, even the strong pull back from NSE is a strong reason to switch as for a positive risk/return investment...
dont get tied to any company... no regrets
take care
:cool:
.^sc