AZZ - Antares Energy Ltd - Shale Oil/Gas

[gazprom1]

Trackers,

Thought a new thread might be better than discussing it under another thread. I have another order in at 40.5. Hope to get filled tonight. It had such a strong day on Friday that I think that the price is just settling. The $200 million sale is supposed to settle by the 15th of December I think.

Gaz

[Serpie]

I had a bid in on Friday at 36c Gaz, but pulled it just before open (opened at 36c!). imagine my dispair when I saw the 23% rise through the day.

Have a look at this if you're keen on AZZ.

http://www.youtube.com/user/haspete#p/u/8/egZ_zJ7C9yU

More excellent work form Haspete.

[trackers]

Cheers guys yeah this one looks good to me, but I'm sure the market needs to see transaction closed for some certainty, then we'll see what happens

[gazprom1]

I had a bid in on Friday at 36c Gaz, but pulled it just before open (opened at 36c!). imagine my dispair when I saw the 23% rise through the day.

Have a look at this if you're keen on AZZ.

http://www.youtube.com/user/haspete#p/u/8/egZ_zJ7C9yU

More excellent work form Haspete.

Cheers Serpie - shame you missed that 36 cent....He seems not particularly impressed long term about the stock but seems to think the indicators are ready for a run which should be helped by the following:

1. Settlement of the US$200 million on the 15th of December;
2. Share buy back program commencing on the 15th of December;
3. New acquisitions/ investments;
4. Further good drill results by Petrohawk.

Protectd on the downside because of so much cash IMO and good upside potential. Picked up more at 40.5 cents at the close yesterday. May rotate into a few more today if it weakens a little further.

Gaz

[Serpie]

It looks to be worth a crack Gaz. There's a bit of scepticism about that $200M deal going through, but only because it seems to good to be true, and AZZ has disappointed so many folowers over the years.
But once that deal is completed (and no one is giving any concrete reasons why it shouldn't be) then it should be chocks away - up to 60c if you follow Haspete's reasoning.
I'll be cheering for ya!

[gazprom1]

It looks to be worth a crack Gaz. There's a bit of scepticism about that $200M deal going through, but only because it seems to good to be true, and AZZ has disappointed so many folowers over the years.
But once that deal is completed (and no one is giving any concrete reasons why it shouldn't be) then it should be chocks away - up to 60c if you follow Haspete's reasoning.
I'll be cheering for ya!

Thanks. I can't find any reason why the deal should not proceed. The valuation was not out of line with the likes of what Shell/ Talisman have paid recently. Chesapeake is a player and reputable counter party. New management in place for the past couple of years and have turned the company around. Great kudos to them if it does settle.

I see you are holding BUR - what do you think about the latest drill??? Hope the results are positive otherwise we will be sub 6 cents. I am over-exposed to BUR and feel a little uneasy.

Cheers
gaz

[Serpie]

I see you are holding BUR - what do you think about the latest drill??? Hope the results are positive otherwise we will be sub 6 cents. I am over-exposed to BUR and feel a little uneasy.
Cheers
gaz

I've been holding BUR through good and bad Gaz, so dont listen to me! But a few other people are actually looking it now, as it turns into a legitimate producer.
I'm hoping (like you) that Truchard will test well and that we'll have an ann in the next day or so that it's being completed for production, but I don't think there's as much riding on this one as previous wells, because they're stepping it out a bit to try to define the field.
It will still get slammed if it's dry, but I can live with that. The rig should be getting moved to H2 now, which is only a few 100m from H1, and (based on what they know about H1) should be quick, and successful.
So far so good with flaring gas at Truchard. And the completion costs are low for this one, so I'm assuming infrastructure is nearby. There was a long delay for fraccing last time, but I would imagine that (if successful) they'd shut down Truchard and frac it when H2 is drilled.
Joann still programme to be connected to sales before the end of the year too, so revenue stream for 2011 should be good. No more cap raisings or dilution of all goes to plan.
Let's hope we do better than MEO this week!

[gazprom1]

I've been holding BUR through good and bad Gaz, so dont listen to me! But a few other people are actually looking it now, as it turns into a legitimate producer.
I'm hoping (like you) that Truchard will test well and that we'll have an ann in the next day or so that it's being completed for production, but I don't think there's as much riding on this one as previous wells, because they're stepping it out a bit to try to define the field.
It will still get slammed if it's dry, but I can live with that. The rig should be getting moved to H2 now, which is only a few 100m from H1, and (based on what they know about H1) should be quick, and successful.
So far so good with flaring gas at Truchard. And the completion costs are low for this one, so I'm assuming infrastructure is nearby. There was a long delay for fraccing last time, but I would imagine that (if successful) they'd shut down Truchard and frac it when H2 is drilled.
Joann still programme to be connected to sales before the end of the year too, so revenue stream for 2011 should be good. No more cap raisings or dilution of all goes to plan.
Let's hope we do better than MEO this week!

Yeah, I have been holding BUR for ages as well Serpie. Used to trade it successfully but now am long term holder as I like their acreage and should start to get the revenues going in the short/ medium term.

Back to AZZ, I swapped out of GOT today and topped up at 40.5 cents. I am finished buying so the price can take off now=)=) Tomorrow could be interesting either way - downside if the deal doesn't settle and upside if it settles. Also, have the share buy-back commencing tomorrow so that could/ should support the price.

Gaz

[gazprom1]

.....no news about the US$200 million settlement. SP has stayed up. I am still optimistic the deal will settle. Given it is a US deal, I am thinking, maybe, the deal closes on the 15th December US time. If this is the case, then we should have news first thing tomorrow aussie time. That is how I am rationalising it anyway.

Serpie - did you end up buying any?? I see BUR had a ann re the drill....I don't think there is massive flows there. SP down a bit. Will know more in a couple of days. Probably will need fraccing after that!!!!

Gazprom

[Felix]

Yes I suspect settlement will occur overnight given that the purchaser is a US company. The announcement doesn't refer to any conditions that need to be met before settlement.

I'm more interested in what happens next with the company. They struggled for a few years but got it incredibly right with this project and sale. Time will tell whether they can keep picking winners or whether this was a one-off success.

Disc: held since 2006 and have watched share price yo-yo from 60c to $1, all the way down to 3c, all the way back up to 90c, and now at 40c. What a ride...

[Serpie]

Serpie - did you end up buying any?? I see BUR had a ann re the drill....I don't think there is massive flows there. SP down a bit. Will know more in a couple of days. Probably will need fraccing after that!!!!
Gazprom

Didnt buy any Gaz. Tomorrow's the big day for AZZ - good luck!
Not worried about BUR. Just market getting twitchy with delays. Seen it all before, and worse! And no doubt will again.

[gazprom1]

[QUOTE=Felix;330155]Yes I suspect settlement will occur overnight given that the purchaser is a US company. The announcement doesn't refer to any conditions that need to be met before settlement.

I'm more interested in what happens next with the company. They struggled for a few years but got it incredibly right with this project and sale. Time will tell whether they can keep picking winners or whether this was a one-off success.

Felix,

It is a wild ride you've been on Felix. Would have been sweaty palms for me at 3 cents. Management appear to have been prudent in buying up the shale gas acreage and the preparation of that asset for sale. Agree that the next steps are the crucial ones. Would hate to see the cash (provided they get it) get frittered away.

Serpie - you must enjoying the NWE Sp action. Beena steady rise from mid 3's.

Gazprom

[trackers]

From Yahoo Message Board

http://messages.finance.yahoo.com/Stocks_%28A_to_Z%29/Stocks_A/threadview?m=tm&bn=74586&tid=192&mid=196&tof=1&rt=2&frt=2&off=1

I spoke with JC a short while ago and he assures me the deal with CHK did close yesterday as scheduled. Says they could not announce it unless all parties involved approved of the PR. Share buy back did begin yesterday and we will get PR's on that as well as future share buy backs as required by law. He stated that by law they would have had to put out an announcement had the deal not taken place. Since no announcement was put out we should have known that the deal closed as scheduled. They will not be putting out any announcement about the CHK deal. Also told me they cannot put out any information what so ever about the Petrohawk deal per the agreement with Petrohawk. We will have to wait for quarterly reports to get more info. On this. Also, do not expect any other announcements on new projects until all the i's are dotted and the t's are crossed. Basically said Expect news on a quarterly basis and not much in between. I told him I thought keeping shareholders better informed could only help the company and the stock price. I did feel better after talking with him and hopefully he agreed with me about keeping shareholders better informed. I'm afraid we will have to go on almost blind faith going forward except for quarterly reports. I I'm sticking with it until then and may add a few shares at these prices. Hope this helps a few of you. It's hard to have faith when we don't have much information to go on but I think things are ok.

So, looks like the deal went through, and no announcement to the contrary + daily buy backs are evident of that. BUT, in my experience mgmt who don't/won't communicate with holders just end up pissing them off, so I'm out for trade fees only.

[gazprom1]

So, looks like the deal went through, and no announcement to the contrary + daily buy backs are evident of that. BUT, in my experience mgmt who don't/won't communicate with holders just end up pissing them off, so I'm out for trade fees only.

Hey Trackers,

re not being able to make announcement due to all parties having to agree on PR sounds like BS to me unless there was so kind of clause in the S&P contract. Company has fudiciary obligations to its shareholders and this is a material deal for AZZ. They could also make an announcement next week sometime and say they have placed US$156 million on deposit and this would get around the PR with the pther parties as this would not need to be mentionned. Disappointing if true and the SP will not move anywhere fast unless we have announcements. They also have to comply with the ASX rules re transactions concerning the company.

Don't blame you for getting out Trackers. I am staying in as we should see news flow on the new deals and with loads of cash in the bank and the share buy back program in place the SP should at worst stay around its current levels.

Gaz

[gazprom1]

Have doubled down due to recent price action...can't believe they are at 34.5. Bought on Tuesday at 35.5 and 35. Still believe this will be a rewarding in the medium term. Directors have bought a few more especially Gentry 325,000 shares. Always a good sign.

Gazprom

[Serpie]

Have doubled down due to recent price action...can't believe they are at 34.5. Bought on Tuesday at 35.5 and 35. Still believe this will be a rewarding in the medium term. Directors have bought a few more especially Gentry 325,000 shares. Always a good sign.

Gazprom

Considering they have cash worth 56c a share - 34.5c seems like good value. Especially as they are conducting a buyback which seems to be averaging about 36c per share, leaving 20c per share still in the kitty for every share cancelled.
Directors obviously see value here.

[gazprom1]

Considering they have cash worth 56c a share - 34.5c seems like good value. Especially as they are conducting a buyback which seems to be averaging about 36c per share, leaving 20c per share still in the kitty for every share cancelled.
Directors obviously see value here.

No doubt that they bought back a few more today. Nice SP move today...up 7%. Must not be any news out shortly as directors are buying. SP could drift back a little which could be the time to buy a few more...

Gaz

[gazprom1]

Nice 20% rise in the past 6 weeks but needs to push through and break out higher than 42. Fundamentally it is a no brainer but as we know that doesn't necessarily mean too much.

Gazprom

[gazprom1]

The fluctuations of the market have had little to no effect on AZZ...testing 42 cents. Hedged on the downside because of huge cash reserves and share buy back..currently drilling and looking for new acreage.

Gazprom

[drillfix]

Hi Gaz,

I think the last time a read this thread of you posting ages ago this share price was still around about the same...LOL

Although, I did see the chart drop it down to 36c at one stage to only then bounce back.

Are you anticipating a big move at any stage at all?

[gazprom1]

Hey DF,

In Jan it touched 34.5 and managed to double down at 35 and 35.5 from 38. SP sitting at 42.5 now and given what is has been going on is solid IMO. Sat around 38-39 for a long period of time.

No, not really expecting anything like a huge jump but they should have news in the near term about acquisitions - new shale gas acreage probably. Who knows how the market will react but it should be positive. They are drilling away in shale country at the moment but this will not be a major mover of the SP IMO. I do not have predetermined price to get out as it depends on announcements from the company and the market but once north of 50 cents I will be taking a good look at how the land lies.

Probably not your type of stock mate. Not enough movement but you never know.

Your posts on the ASX thread have been excellent and thought provoking DF...good work and it is appreciated!!!=)

Gaz

[drillfix]

Thanks for sharing your thoughts on your position and view of AZZ there Gaz, I hope you gain rewards accordingly.

Also, cheers for vote of confidence on ASX thread posts. I find its good or a Healthy thing to post what we actually see and not that of what we want to see or hope to see so by posting details of what we actually see, this can keep us honest with ourselves to a large degree, although we can still miss things, or not observe the full picture, but in which case I am sure someone would pull up to make note of it, which is also a good thing.

Cheers again :)

[gazprom1]

Currently sitting at 44 cents DF...10% for the day. Near a 4 month high. Must be news in the wind or someone is excited about the drill that will be hitting the first objective probably this week.

[gazprom1]

AZZ continues to make deal after deal in the US. Latest one is an up and running project producing oil and gas. Management have been good to their word and have made a number of deals for large acreages. If you look back over the past couple of months at the deals that have been done, they are acquiring assets that they have experience with and know how to develop. Not sure if their intention is to build up large acreage and sell off (like last time) or whether they will develop the properties. Worth a look at IMHO - have a SBB program in place which they are extending which will help undermine the SP.

Gazprom
Discl: hold

[drillfix]

Nice news today for AZZ there Gaz, good stuff and looks tempting as Price has had a nice bounce off the the 150ema and the 13ema is about to cross the 150ema which to me, means I woud be inclined to have that cross confirmed with a couple more candles on the hourly moving upward and/or one more candle on the daily should trigger this nicely.

Still some reluctant sellers though, so not sure why sellers dont back off on such news, any ideas there Gaz?

[gazprom1]

Nice news today for AZZ there Gaz, good stuff and looks tempting as Price has had a nice bounce off the the 150ema and the 13ema is about to cross the 150ema which to me, means I woud be inclined to have that cross confirmed with a couple more candles on the hourly moving upward and/or one more candle on the daily should trigger this nicely.

Still some reluctant sellers though, so not sure why sellers dont back off on such news, any ideas there Gaz?

Hey DF,

Hope you had a great Easter...did you have a break away?? I am away with the kids for a few weeks in the sun.

No idea on the sell side but there always seems to be pressure despite the company sitting in the wings sucking up shares and cancelling them. They want to extend the buy back for another 10% so this will give them more scope to take out additional shares. Maybe some shareholders are still nervous about the "new management" despite the solid performance sicne they have taken over. It is one of those companies that will have its day and I will be there waiting for the revaluation.

Keep up your postings mate as they are great reading and informative even if some days you dont get a lot of feedback.

Gaz

[drillfix]

Hi Gaz,

Strange why holders would be nervous with new management showing and giving performance. Today's ann for AZZ seemed excellent. Rig on site all the goodies seem ready there for the taking, all they gotta do is just start drilling.

Had a quiet Easter, never went anywhere or did anything (except a watch some movies and a stack of reading) as I have no family whatsoever, nor wife, or ankle bitters or other distractions so to speak of other than myself. My condition limits me to how far I can go and what I can do to much degree so I usually just enjoy being and living in the moment.

Here's to you cashing in on this one mate and glad to hear your having a nice time away with the Family in the sun.

Enjoy :)

[gazprom1]

Hi Gaz,

Strange why holders would be nervous with new management showing and giving performance. Today's ann for AZZ seemed excellent. Rig on site all the goodies seem ready there for the taking, all they gotta do is just start drilling.

Had a quiet Easter, never went anywhere or did anything (except a watch some movies and a stack of reading) as I have no family whatsoever, nor wife, or ankle bitters or other distractions so to speak of other than myself. My condition limits me to how far I can go and what I can do to much degree so I usually just enjoy being and living in the moment.

Here's to you cashing in on this one mate and glad to hear your having a nice time away with the Family in the sun.

Enjoy :)

DF,

Take a look at the quarterley report...great reading and gives insight into infill drilling. Management have been smart in what they have bought IMHO. Focussed on a geograhical area with proven resources and infrastructure and plenty of rigs available. Mkt cap is $126 million and they have $122 million in the bank. Drills underway at a cost of $1.5 to $2.5 million....and they have enough acreage to drill from now for several years. Currently would have to be one of my favourite stocks from a risk/ reward basis - will buy more if can free up funds from other investments and Sp does not move away too much.

Gaz

[gazprom1]

AZZ's May 25th presentation is worth a look even if you are NOT interested in AZZ. Details specifically how long each well takes to drill and develop and then the production rates for the Permian Basin - vertical wells not vertical/ horizontal. The costs are broken down and all the timings given. I found it an excellent read.

Re AZZ, it is my favourite stock for a variety of reasons: cashflow positive, aggressive drilling campaign, very large reserves (2P currently 27MMBOE and 3P 83MMBOE), active management with good shareholdings, share buy back has been extremely rewarding for company, another share BB just approved, target orientated, no capital raisings planned as have cash, quick, cheap and easy to bring another well into production. It is not hoping on one elephant coming in on a hunt, it is focussing on guaranteed multiple small targets simultaneously.

Yep, I am excited. This is WHEN not IF in terms of a revaluation. Currently 40 cents.....

Gazprom

[drillfix]

Hi Gaz,

Any specific target in mind for Antares?

I see they have announced the Completion of the Buy Back that has been going on for some months. Seems there was a 10c spread between 34c -44c

How to you see things panning out now this has stopped? You sound quite confident about a re rate for the company :)

[gazprom1]

Hi Gaz,

Any specific target in mind for Antares?

I see they have announced the Completion of the Buy Back that has been going on for some months. Seems there was a 10c spread between 34c -44c

How to you see things panning out now this has stopped? You sound quite confident about a re rate for the company :)

Hey Drilly,

The buy back was completed the other day BUT a new buy back has been authorised by shareholder resolution for another 10% or just under from memory. They did a cap raising at 62 cents and then bought back shares between 34 and 44 at an average of around 40 cents netting several million for shareholders that continued to hold through the period. That has not be reflected in the SP IMO. The new BB will just underpin the SP and they will chip away those that need or want to get out.

No target in mind although IF the SP languished around the mid-30's and they continued to drill wells and oil production hit the 1000bopd ($100k a day) this year they could become attractive as a take over target - I would if I could raise $150- 175 million. The company states (and they have no ability to dictate the SP) that their target is $1 by year end and $2 by end 2012. I would take 75 cents end this year and $1.50 at end of 2012....4 bagger from where I purchased. I am hoping to buy a few more today but need to sell some shares in order to do so.

I am very confident that they will deliver what thy say but whether or not Mr Market is interested is another thing.

Gaz

[trackers]

Might have another look at these guys (was in during the last buyback) - Similar setup to RFE

[gazprom1]

Might have another look at these guys (was in during the last buyback) - Similar setup to RFE

Trackers, come join me on the register. Management are delivering on their statements and building shareholder wealth. Good to see they only bought 35000 shares y'day with the rest picked up by investors. I am in for the medium term as I am a fan of cheap vertical wells with quick pay back periods. Unlike some other investors on ST, I'll take a stab that AZZ will be at least 25% higher 6 months from toiday provided the ASX is not below 4650. Why? SP will be undermined by a relatively strong oil price, share buy back, increased BOPD, deal flow, strong cash and cash flow position, competent management. I am sure I will have to humble pie as making public statements about where you see a stock in the future normally ends in disaster.

Gaz

[gazprom1]

Trackers, did you buy in the other day?? We are tracking up=)=)....46.5 cents, 4 week high and heading towards a 6 month high of 48.5 cents.

Nothing beats quality in difficult times.....

Gaz

[trackers]

I did gaz! Picked up a decent swag at 43c after a bit of research - thank you... One of my only shares thats actually going the right way (PXGO/OA have been going well too until yesterday).

Agree with what the quality statement - high risk microcaps are being dumped unceremoniously by the market in a big way....

[gazprom1]

I did gaz! Picked up a decent swag at 43c after a bit of research - thank you... One of my only shares thats actually going the right way (PXGO/OA have been going well too until yesterday).

Agree with what the quality statement - high risk microcaps are being dumped unceremoniously by the market in a big way....

Excellent Trackers, happy you are in. I am not sure whether or not you saw a statement from the chairman and CEO in the AGM presentation....AZZ will NOT need any further capital for at least 3 years. They will be able to continue drilling and bringing wells on without going to the market which is great news IMO. Targeting 1000bopd by year end....approx $700,000 per week. Each well only costs around $2 million so they can just keep on funding well after well. Looking at 2000bopd by year end 2012....$1.4 million per week!!!

Obviously, if the markets really get hammered it will not be immune.

Gaz

[trackers]

Hey Gaz, I agree its a impressive strategy... These guys definitely know what they're doing, thanks for the heads up!

If you get a chance have a look at RFE, I absolutely don't have a preference of either, but I'd be interested to hear your thoughts if you have the time as they look like very very similar plays

Figures below are approx quick back of envelope (rounded to whole numbers etc)

AZZ: 275mil @ 45c = $123mil - $45mil cash = $78mil EV. 27mil boe 2P. Good strategy, self-funded

RFE: 270mil @ 40c = $108mil - ~$41mil cash = $67 EV. 18mil boe 2P. George Soros Quantum Fund backed + large Mississipian upside (>50,000 undeveloped acres)?

http://www.asx.com.au/asxpdf/20110322/pdf/41xlflnc6x8mzx.pdf


Edit: RFE cash est. post cap raising of 28mil to insto's + 5mil SPP + 8mil at end of Q1

[gazprom1]

Hey Gaz, I agree its a impressive strategy... These guys definitely know what they're doing, thanks for the heads up!

If you get a chance have a look at RFE, I absolutely don't have a preference of either, but I'd be interested to hear your thoughts if you have the time as they look like very very similar plays

Figures below are approx quick back of envelope (rounded to whole numbers etc)

AZZ: 275mil @ 45c = $123mil - $45mil cash = $78mil EV. 27mil boe 2P. Good strategy, self-funded

RFE: 139mil @ 40c = $44mil - $4.5mil cash = $39.5 EV. 18mil boe 2P. George Soros Quantum Fund backed + Mississipian upside?

http://www.asx.com.au/asxpdf/20110322/pdf/41xlflnc6x8mzx.pdf


Edit: RFE cash balance is completely wrong... Investigating

Thanks Trackers. Will take a detailed look over the weekend at RFE but just had a quick look through a presentation and some announcements. It looks like they are due to release some details concerning their drill of Eastok #1-24 well....a little concerned that the May 13 announcement said they would have details within 2 weeks. It is now 4 weeks later. IMO it is a very important well as it is in the heart of Noble County where they are pinning their future.

They raised $33 million (?) in May so their cash postion should be higher than $4.5 million although they are been leasing loads of acres.

Looks interesting so will do some research.

Thanks
Gaz

[trackers]

Hi Gaz, cheers for this.. As I say, not trying to convince you one way or the other just wondered what you thought :) I've edited my post with hopefully the right shares on issue + cash etc, I'd used their latest presentation but I've now used post-cap raising figures.

I agree that news is a bit light (2 weeks vs 4 is a pretty big stuff up) and thats a short-term concern... but their still may be quite a lot of upside from getting in on the mississipian play early + Soros's massive holding (they hold 18%!) is interesting

[gazprom1]

Hi Gaz, cheers for this.. As I say, not trying to convince you one way or the other just wondered what you thought :) I've edited my post with hopefully the right shares on issue + cash etc, I'd used their latest presentation but I've now used post-cap raising figures.

I agree that news is a bit light (2 weeks vs 4 is a pretty big stuff up) and thats a short-term concern... but their still may be quite a lot of upside from getting in on the mississipian play early + Soros's massive holding (they hold 18%!) is interesting

Close at 48 cents Trackers - 6 month high early next week? Been a great week for AZZ given its performance v. the market. Share buy back has been important as has the news flow. I flucked a trade on the 31st and sold out of MAK at 56 cents and swapped into more AZZ. I sent a message through to James Cruickshank today.....probably will not reach him but worth the effort.

Just reading around RFE....

Gaz

[gazprom1]

[I sent a message through to James Cruickshank today.....probably will not reach him but worth the effort.]

Hi Trackers,

Received a message back from James Cruickshank a day after sending mine. I didn't ask anything too speciifc so nothing really to tell - current strategy is full steam ahead with regular updates. However, was impressed with the quick response and he stated that to get in touch concerning any issues we may have going forward.

Gaz

[trackers]

Heya Gaz,

Nice trade there with MAK, its great when timing like that comes off..

Feeling pretty good about AZZ, I'm looking to pick some more up if the price is right. Thats excellent that JC took the time to reply - Its a pretty simple gesture, but shows that the CEO is happy to keep shareholders informed... Certainly no worries with the amount of newsflow too, which is unfortunately a bit of a necessity for a junior.

[gazprom1]

Heya Gaz,

Nice trade there with MAK, its great when timing like that comes off..

Feeling pretty good about AZZ, I'm looking to pick some more up if the price is right. Thats excellent that JC took the time to reply - Its a pretty simple gesture, but shows that the CEO is happy to keep shareholders informed... Certainly no worries with the amount of newsflow too, which is unfortunately a bit of a necessity for a junior.

26 week high just breached Trackers. Fantastic given where the market is. Decent voume going through. Hope we test 50 cents today!!

Wish the earthquakes would leave us alone. I live North West so the impact has not been as great as out East. House in the centre is a mess as the B&B next door fell on top of us! Great=)

Gaz

[gazprom1]

26 week high just breached Trackers. Fantastic given where the market is. Decent voume going through. Hope we test 50 cents today!!

Wish the earthquakes would leave us alone. I live North West so the impact has not been as great as out East. House in the centre is a mess as the B&B next door fell on top of us! Great=)

Gaz

50.5 cents after my post...500K bought very quickly.

[trackers]

Bit of consolidation today... Things seem to be progressing along ok as per operational update yesterday

[gazprom1]

Update on the Permian Basin today....I see they have 4 fracs lined up for Big Star starting 30 July. Also, they are going to frac a well at Northern Star to see if it is commercially viable. Plenty of news flow. Price reaction has been positive....wish I hadn't bought NAV yesterday=(

Gaz

[drillfix]

Yikes Gaz, the old buy the Low on the NAV seems to have back fired.

Well, seems like Antares will be a better pay off imo. Lots of small caps taking a complete whooping even on such a supposedly "green day".

[gazprom1]

AZZ is rebounding strongly on the back of some very positive results from Southern Star....looks like a couple of the wells could be over 200BOEPD (vs expected 75-150). They have in excess of 170 potential well sites at Southern Star. Waiting for results from Big Star and Northern Star.

Interestingly, I sent James Cruickshank another email today with some ideas re reporting production numbers etc. To his credit he replied immediatley again but didn't mention whether anything would be implemented or not.

Gaz

[Felix]

From the company's 29 November 2010 market release titled 'New Ventures Update' we have the pearler sentence "...deliver upon Antares' self-imposed commitment to shareholders of realising a share price of 1.00 AUD by 31st December 2011...".

At a current share price of 40c, and given the share price was 40c when they made that statement and the share price has not exceeded 56c in the last year, would they consider their 'commitment' a complete failure? Ummm, yes! Or perhaps they'll have some awesome news in the next 16 days that will more than double the share price. Ummm, no!

And what happens to the directors who haven't met this 'self-imposed commitment'? Well, no doubt they'll be re-elected as directors.

[gazprom1]

From the company's 29 November 2010 market release titled 'New Ventures Update' we have the pearler sentence "...deliver upon Antares' self-imposed commitment to shareholders of realising a share price of 1.00 AUD by 31st December 2011...".

At a current share price of 40c, and given the share price was 40c when they made that statement and the share price has not exceeded 56c in the last year, would they consider their 'commitment' a complete failure? Ummm, yes! Or perhaps they'll have some awesome news in the next 16 days that will more than double the share price. Ummm, no!

And what happens to the directors who haven't met this 'self-imposed commitment'? Well, no doubt they'll be re-elected as directors.

Strange for them to have said that and they have made other comments about 2012. I am sure that they will come out and talk about "the market conditions". Maybe they have a buyer in the wings at $1.00??=)=)

In their defence, AZZ's production has increased in line with their predictions so that is a positive. Management do listen to shareholders and I have had very positive dealings with them.

Continue to hold.

Gazprom

[gazprom1]

....nice run by AZZ but one had to patient. Interesting to see if run continues.

Gazprom

[Felix]

No apparent reason for the price rise according to their notice today so it will be interesting to see if the price will stay at this level or drift back to the 35c-40c range it has sat in for a while now.

[gazprom1]

Now pick that one out of the bag.....more than doubled on the open today and is currently up 72%!!

Mkt Cap still only $122mil ....and the possible sale pf Permian assets is $300 mil. Should go higher when it is signed up.

Gaz

PS ELYOB - haven't you picked up some of these recently=)

[Felix]

The market reaction today does not appear to reflect the extent of the good news. They're going to pick up $300m for the assets and after paying off the $45m term debt and the $14m convertible notes that will leave the company with $241m (less tax obligations) plus the other minor assets they hold. A market cap of $122m based on the closing price of 48c appears to significantly discount the news.

The discounting of the news might be due to the company providing scant information. There was reference to $300m but not to the form of payment. Also there was no discussion about what the company will do with the proceeds.

I find it interesting that there was so little information provided in the announcement. When they sold their last big asset in 2010 they prepared a three page novel explaining how great the price was they received for the assets, what they were going to do with the proceeds etc. To get a two sentence announcement for such significant news is strange from Antares.

Overall the news is good but I suspect they've received less in the sale than they would have hoped. Broker reports suggested the assets were worth far more than the $300m they'll realise from the sale. With the mining sector going through a rough patch at the moment and their share price falling away perhaps they believed that now was the time to monetise the asset and pay off their debt.

[JBmurc]

The market reaction today does not appear to reflect the extent of the good news. They're going to pick up $300m for the assets and after paying off the $45m term debt and the $14m convertible notes that will leave the company with $241m (less tax obligations) plus the other minor assets they hold. A market cap of $122m based on the closing price of 48c appears to significantly discount the news.

The discounting of the news might be due to the company providing scant information. There was reference to $300m but not to the form of payment. Also there was no discussion about what the company will do with the proceeds.

I find it interesting that there was so little information provided in the announcement. When they sold their last big asset in 2010 they prepared a three page novel explaining how great the price was they received for the assets, what they were going to do with the proceeds etc. To get a two sentence announcement for such significant news is strange from Antares.

Overall the news is good but I suspect they've received less in the sale than they would have hoped. Broker reports suggested the assets were worth far more than the $300m they'll realise from the sale. With the mining sector going through a rough patch at the moment and their share price falling away perhaps they believed that now was the time to monetise the asset and pay off their debt.

Yes here's hoping MPO will do the same they have 26,000a in the Texan permian basin .....AZZ value there lot @ $10,000a.....even if MPO was worth half as much still be worth 130mill to them ....and MPO's currently being valued 8-10mill less than cash(round 50mill marketcap) .....If AZZ sale going through will be huge help for this MPO S/H

[ELYOB]

Yes , I loaded up 200k at 32c in my belief the stock would do much in coming months . Now , if they played the long game , it could be $1 share ; selling game with this deal on the table it could pan out to be worth 70c. But long way to settle this deal yet . If it falls over , back to 40c maybe . I took the easy option and sold 54c yesterday , mainly because good profit . That gives me leverage buying more ROC at 43c going forward.

I am a believer still in AZZ , will watch it .... could be back in given opportunity.

[JBmurc]

Yes , I loaded up 200k at 32c in my belief the stock would do much in coming months . Now , if they played the long game , it could be $1 share ; selling game with this deal on the table it could pan out to be worth 70c. But long way to settle this deal yet . If it falls over , back to 40c maybe . I took the easy option and sold 54c yesterday , mainly because good profit . That gives me leverage buying more ROC at 43c going forward.

I am a believer still in AZZ , will watch it .... could be back in given opportunity.

Yes ROC great buying sold my lot in the high 40's ...IMHO early july ROC like many shares will bounce

[ELYOB]

I too expect a bounce in many top oilers. HZN is a stock I feel punters will ignore , but let me say something is brewing , and expect that within 2 weeks . Think HZN will possibly be as good as that ROC...

[ELYOB]

Doing some lucky trading . As I said sold 200k AZZ 54c bought ROC 43c , and today wow! sold 100k ROC 51c , and bought back in AZZ 42.5c 100k [Now have 100k x ROC AZZ on hand]

The brave will play AZZ . Do you believe in the cash honey pot cometh! Mr Market doesn't appear to have much faith. Analysts est cash after taxes debt etc,. will be near 70c /share , if it works .

Hold AZZ 100k