armour energy IPO

[Crypto Crude]

Alliance with LKO...

LAKES OIL NL


EGO another one for further research... with a foot print in North Perth Basin...
Looks like it could bust this decades long beat down and rise from the ashes...

what are Armour saying here?
It seems they like this LKO?


Placement, Farm-in Agreements and Board Appointments
Lakes Oil has today reached agreement with Armour Energy which will significantly
speed up development of its valuable oil and gas Exploration Permits and Retention
Leases in Victoria.
Under the agreement, Armour Energy will, subject to satisfactory completion of due
diligence investigation;
Subscribe for 900 million shares in Lakes at 0.25 cents per share to raise
$2.25M
Fund the drilling and completion of a well in the Morey prospect to earn an
interest of 51% in PEP169 in the Otway Basin
Nominate two directors, which Lakes has agreed to appoint, to the board of
Lakes Oil
With respect to the Gippsland Basin, it is proposed that, subject to satisfactory
completion of due diligence and regulatory matters, Armour Energy will;
Undertake to drill a cored commitment well on the Yallourn-Morwell Anticline
and an open-hole well (Holgate 1) to complete to 2500 meters for a total
combined expenditure of $4.25 million and, in the following 12 months, may
expend a further $4.75 million to drill an additional open hole well complete
with any necessary frac stimulation to earn a 51% interest in PEP 166.
Be granted a 3 year option (Option) to acquire (subject to the terms of
existing agreements with Beach Petroleum NL) 50 % of Lakes Oil’s interests in
the Trifon and Gangell blocks, and a direct 25% interest in the remainder of
PRL2, for a total payment of $30 million. Lakes Oil will also receive annual
option fees totalling AUD600,000 during the life of the Option.
Commenting on the agreements, the Chairman of Lakes Oil, Rob Annells, said:
“These arrangements will enable Lakes Oil to move ahead immediately on a number
of company-making initiatives, with action time-lines that give shareholders a clear
view of how our development program is to unfold over the next 48 months.
“We are also delighted to be inviting Nick Mather and Phil McNamara, or other
Armour nominee, onto the Board given the record of success which they have
enjoyed in gas and coal exploration and development in Queensland. Their
recognition of our considerable potential for gas production, against a widely
expected hike in gas prices in the near term, will help to lift the profile of Lakes Oil
across the investing community”.
:cool:
.^sc

[drillfix]

Whats the Armour code there Shrewdy?

Wow, that is a bit of a discount on LKO shares so currently the LKO share price is trading at twice of the issue price, is that right?

There are over 6 billion LKO shares so with this issue, this will now be 7 Billion'ish. No doubt at some stage this co will have to consolidate surely.

[bung5]

To be listed in february but nothing as of yet on asx website

http://www.asx.com.au/research/upcoming.htm


Buy DGR if you want in on the IPO.. don't think is available to outsiders?

[drillfix]

To be listed in february but nothing as of yet on asx website

http://www.asx.com.au/research/upcoming.htm

Buy DGR if you want in on the IPO.. don't think is available to outsiders?

Thanks bung,

But who do you mean outsiders? Folk outside of Aus? This doesn't mean NZ if you are a holder of the stock surely though?

Wouldn't think not, but I guess you never know.

Still no code? surely they have a code ready for themselves?

[bung5]

I read somewhere that the IPO is already fully subscribed by funds etc and there is an allocation for DGR shareholders. Can't confrim this however so may not be the case

[drillfix]

I dont care about the IPO, I just want to know the code in advance so I can trade it..LOL

[bung5]

trade some DGR :P

[drillfix]

Umm,

Not today bung, a liquidity trap~!

[bung5]

Need to be holding DGR shares by the end of the week to get an allocation for the IPO coming up shortly. 50c a share

[percy]

Sorry drillfix no code,but must share with you the following that was in the letter I received today from DGR:
"In light of these payment arrangements,you may wish to liaise with your bank to adjust any "daily limit" threshold which may apply to your personal banking arrangements,if so required."
Love it.!!!!!!

[Entrep]

Today was the last day. I bought on close for the option

[trackers]

bula bula, ive been waiting for this for a while and its nearly here... 60mil highly prospective shale ipo completely private to instos and dgr holders....all good. check out the website armourenergy.com.au for a whos who of ex arrow energy management..should be interesting

[Huang Chung]

I think Shasta pointed out DGR a long time ago as a likely good entry into Armour Energy.

Hope you managed to bag a few Shas :cool:.

[drillfix]

I think Shasta pointed out DGR a long time ago as a likely good entry into Armour Energy.

Hope you managed to bag a few Shas :cool:.


Indeed he had there HC.

Is there any cut off date (I know have asked before) on this one, as I forget when.

[bung5]

was friday just been

[drillfix]

was friday just been


Thanks Bung, though ahh well, guess I will have to battle it out on market so will be watching which way the wind blows.

[percy]

Thanks Bung, though ahh well, guess I will have to battle it out on market so will be watching which way the wind blows.

Strong southerly winds expected.Should drive the SP in a northerly direction.

[bung5]

The high demand and the lack of public offering should see strong demand. For DGR as well. DGR current market cap is about what the armour share holding is alone.

[crooky]

The high demand and the lack of public offering should see strong demand. For DGR as well. DGR current market cap is about what the armour share holding is alone.

Should be , below

http://www.shares.com.au/forum/attachment.php?attachmentid=6677&d=1331506131

Prospectus released today , located on Armour Energy Home Page

http://armourenergy.com.au/

[trackers]

Awesome! Cheers Crooky look forward to reading it over next few days...

Looks like they're giving 1:4 in the money options which is nice.

Independent review puts their resource for their two main permits (EP171/176 targetting Batten Fault of the McArthur Basin) at 18.8 trillion c.f gas, 2 billion barrels liquids... there is a decent history of wells / seismic programmes / core analysis over this area from which this data was tapped. Interesting stuff

http://armourenergy.com.au/prospectus/Armour-Energy-Limited-Prospectus-2012.pdf

pgs 111-129 (pg 115, 116,124 esp)

[Huang Chung]

Any thoughts as to why DGR didn't keep this fully in house?

[bung5]

They don't have the cash. DGR had a market cap of around 30 - 40 mil. Armour has a 60 million 2 year drilling program. Think their business model is to also spin off assets to allow shareholders to invest directly in the assets they like

[bung5]

ASX Code: AJQ

[crooky]

Haven't been in a IPO for a long time , AJQ thanks bung
Does look awesome trackers , went the 50mill , now going 75 mill
From that AFR clipping looks a good start out the gate !!
Still have my day job so will have to wait for weekend to check the prospectus out , by then you will probably have the best pages to skip to which I've noticed , thanks
cheers

[gazprom1]

I have had a look at the prospectus from the Armour website but cannot find the application form. They state that a Priority Application Form would be on their website....I may be missing it but cannot see anything. Any ideas?

Thanks
Gazprom

[Entrep]

Check the dates timetable

[gazprom1]

Check the dates timetable

...and....it states that Priority Application Form avaiable on website which it is not. 28th March openning which is irrelevant if you do not have an application form. I guess the company has not put it on their website.

Has anyone received the second personalised letter?

Thanks
gazprom

[percy]

...and....it states that Priority Application Form avaiable on website which it is not. 28th March openning which is irrelevant if you do not have an application form. I guess the company has not put it on their website.

Has anyone received the second personalised letter?

Thanks
gazprom

I have not received it yet.A little concerned as I am out of town next week.I have spoken to Craigs my broker,who say they can do the payment for me,but I have to get the paperwork in to them.

[gazprom1]

I have not received it yet.A little concerned as I am out of town next week.I have spoken to Craigs my broker,who say they can do the payment for me,but I have to get the paperwork in to them.

Thanks Percy. Nor have I but I guess it is open to the 11th of April (?) so plenty of time. Let me know when you receive yours and I will do the same.

Cheers
Gaz

[percy]

Thanks Percy. Nor have I but I guess it is open to the 11th of April (?) so plenty of time. Let me know when you receive yours and I will do the same.

Cheers
Gaz

Sorry to tell my grandmother how to suck eggs,but I have been caught out with Aussie issues closing early.The day I get the paperwork I will let you know,and I will be asking Craigs to get straight on to it.

[gazprom1]

Sorry to tell my grandmother how to suck eggs,but I have been caught out with Aussie issues closing early.The day I get the paperwork I will let you know,and I will be asking Craigs to get straight on to it.

I agree. I am processing my BUL SPP now even though it is two weeks away from closing...better sorted.

Gaz

[trackers]

...and....it states that Priority Application Form avaiable on website which it is not. 28th March openning which is irrelevant if you do not have an application form. I guess the company has not put it on their website.

Has anyone received the second personalised letter?

Thanks
gazprom

Haven't got anything either - Someone mentioned they had to expose prospectus for 7 days before they can give out application form or something?

I'll be applying for mine through BPAY via ASB Sec and thats pretty fast from previous experience (overnight)

[Crypto Crude]

if any of you cats are having problems and dont want the offer... send it out to me.. yummy yummy...
I will take your offer and I will happily send out a fine bottle of wine...
:cool:
.^sc

[percy]

if any of you cats are having problems and dont want the offer... send it out to me.. yummy yummy...
I will take your offer and I will happily send out a fine bottle of wine...
:cool:
.^sc

Well if any of us cats needed any motivation to take up this offer,having that big hungry dog Shrewd Crude wanting to help himself to our feeding bowl,certainly did the trick.Thanks,but stay hungry.!!!!! lol.

[bung5]

shrewd you should keep a small holding of DGR just for the spin offs..

[gazprom1]

Hey percy,

Currently getting the personalised information out to DGR shareholders and then we are required to go to the DGR website to fill in the application. New Dates in prospectus - opening date 28 March, Closing date 11 April.Looking to be quoted on 26th April.

Gaz

[percy]

Hey percy,

Currently getting the personalised information out to DGR shareholders and then we are required to go to the DGR website to fill in the application. New Dates in prospectus - opening date 28 March, Closing date 11 April.Looking to be quoted on 26th April.

Gaz
Just as well Anna at Craigs is brighter than me as it appears to be getting complicated for Kiwi's without bill pay.!!!

[trackers]

http://hotcopper.com.au/search_do.asp?fid=1&symbolid=4403

:D

Also:

http://www.armourenergy.com.au/prospectus/dgr-priority-offer.htm

Not active yet

[bung5]

anyway to pay with bpay from NZ?

[trackers]

Yeah I'll be bpaying mine through ASB Securities... fax them the forms.. costs something like $20 and it goes through overnight

[bung5]

thanks trackers, just spoke with broker (nationalbank) and they will do the same. ( as long as its at least 3 days before close)

[bung5]

anyone received the forms yet?

[Entrep]

Offer website is live. Looks like you don't need yor entitlement number just your holder number

[bung5]

ah nice one. it seems to suggest on the form that the maximum amount you could buy is $9,500 AUD

[trackers]

I've filled in my application form online - Came unstuck where it said "Number of Shares".. I put the number of shares I wanted, but it looks like it actually wants the number of $ you're stumping up...Big difference. But i've re-done the application from scratch so hopefully that works...

[trackers]

ah nice one. it seems to suggest on the form that the maximum amount you could buy is $9,500 AUD

How do you figure? I applied for more than that using the 'apply online' option and it didn't have an issue... Just gave me a form to print out and send to broker to pay via bpay

[drillfix]

Are you using this: https://events.miraqle.com/Armour-Energy/DGR-Priority-Offer/

[trackers]

^ Yip thats the one

[drillfix]

Seems pretty odd that hey have it online to submit though only to make you print it out when you could have done that by downloading it and faxing it without all the hoo haa~!

[bung5]

How do you figure? I applied for more than that using the 'apply online' option and it didn't have an issue... Just gave me a form to print out and send to broker to pay via bpay


on the form I printed out it , the box for the amount in $ you are after only had 4 boxes to enter the amount.

[bung5]

anyway I don't think they are going to have to many issues filling this IPO ... even by the definition its not very public until trading

[trackers]

on the form I printed out it , the box for the amount in $ you are after only had 4 boxes to enter the amount.

Ahh ok, thats pretty interesting! Will see how we go, I've applied plus BPAY'd the funds already

[Entrep]

Bought my DGr on the 9th and just told that means I wasn't registered as a holde until the 15th on settlement. Not eligible for IPO. Pretty pissed! Stupid on my part to I guess

[percy]

My paperwork was here on friday,when I arrived back from my 5 days in Nelson.Have taken the "letter" into Craigs and getting them to try and take up some for me.

[bung5]

ah that's a pain, I can imagine there will be a big fight for shares on market on the 26th of April

[percy]

Bought my DGr on the 9th and just told that means I wasn't registered as a holde until the 15th on settlement. Not eligible for IPO. Pretty pissed! Stupid on my part to I guess

Very naughty.If you had brought a share CD on that day you would be entitled to divie,and I would have thought you would be entitled to issue buying on the 9th.Seller should really send on letter of entitlement.But I guess you would be wasting your time trying to get any satisfaction.I have put your experience in the back of my mind so I don't fall into the same trap sometime.

[Entrep]

What do you mean by share CD?

Cheers

[soulman]

Entrep, CD stands for cum-dividend.....meaning you are entitle to the dividend.

The entitlement for AJT shares was on the record date 9th of March. Hence, the ex-entitlement for the priority offer is the 5th of March. So you need to hold DGR shares on the 2nd of March to get the priority offer. Rookie mistake and I have done that before when I started.

[Entrep]

Lesson learned. They could have made it clearer on the notices though rather than harping on about increasing bank withdrawal limits and what not

[percy]

Entrep, CD stands for cum-dividend.....meaning you are entitle to the dividend.

The entitlement for AJT shares was on the record date 9th of March. Hence, the ex-entitlement for the priority offer is the 5th of March. So you need to hold DGR shares on the 2nd of March to get the priority offer. Rookie mistake and I have done that before when I started.

Well I must thank both soulman and Entrep,as I would have done the same had I not already held DGR.

[soulman]

Yep, when you see the record date, you go back 4 trading days to find the ex date. Then you buy before the ex date to get the entitlement. Normally the shares drop on the ex date but in this case DGR went up 0.5 cent to 14 cents that day.

I am still intrique about how low DGR shares are trading. Maybe this AJT is less than meets the eye. We shall see.

[Entrep]

Yep, when you see the record date, you go back 4 trading days to find the ex date. Then you buy before the ex date to get the entitlement. Normally the shares drop on the ex date but in this case DGR went up 0.5 cent to 14 cents that day.

I am still intrique about how low DGR shares are trading. Maybe this AJT is less than meets the eye. We shall see.

The IPO was the only reason I bought DGR so I am even more peeved that the SP is below my entry with bids at only 12.5c. I fired off an email to the company saying I though the announcement/letter with the date of 9 March could have been worded better for the average punter and will see if they respond.

[Crypto Crude]

thats very unfortunate entrep...
:cool:
.^sc

[trackers]

Yep, when you see the record date, you go back 4 trading days to find the ex date. Then you buy before the ex date to get the entitlement. Normally the shares drop on the ex date but in this case DGR went up 0.5 cent to 14 cents that day.

I am still intrique about how low DGR shares are trading. Maybe this AJT is less than meets the eye. We shall see.

AJQ. I personally think its more to do with a softening MET share price, and people who bought DGR specifically to participate in cap raising, such as Entrep, bailing.

It'll come right when AJQ lists and people realise its cheap exposure to 25% of AJQ.

AJQ less than meets the eye?

- Market cap of prob $150mil of which at least $75mil is cash
- Shale acreage of 126,000km2 (31million acres) (100% holding on all permits)
- Huge 12 consecutive drill program with first well spudding 1May; additional 5 wells with LKO
- Board consisting of 4 Arrow Energy founders/directors and one from Eastern Star Gas senior management
- Prospective resource of 41.3 trillion cubic feet of gas and 2.2 billion barrels liquids
- Close to existing pipelines
- 13% holding in LKO

The experts report reads very very well - There's numerous cores taken and have been examined from previous shallow drills in the area that hit the formations we're interested in. Wells in the area also showed live oil and one blew out and ignited... Previous exploration by Shell / BHP etc.

these guys know what they're doing, look what they did in CSG for Arrow (sold to Shell / PetroChina)

[bung5]

Very right there indeed trackers. I personally think AJQ will fly on listing with the drilling to back it up. The Prospective resource of 41.3 trillion cubic feet of gas is staggering.

[bung5]

http://www.proactiveinvestors.com.au/companies/news/27547/lakes-oil-armour-energy-to-spud-otway-basin-gas-exploration-well-27547.html


Lakes Oil (ASX: LKO) and Armour Energy expect to next week spud the Moreys-1 gas exploration well in the onshore Otway Basin that could result in early cash flow if successful.

The Moreys prospect is a tilted fault block that straddles the border between Lakes' PEP 169 and Somerton Energy's PEP 168 along a known west northwest trending hydrocarbon fairway.

It targets the Late Cretaceous Waarre C sands with secondary targets in the overlying Flaxman formation and underlying Eumeralla Formation.

The rig, which is already on site, is expected to spud Moreys-1 on April 18.

It will take about 10 days to drill the well to its planned total depth of about 2000 metres.

Nearby fields are located both to the east and west while an existing gas pipeline is less than 1 kilometre away.

Lakes added that Moreys appears similar to the McIntee, Fenton Creek and Mylor fields operated by Origin Energy (ASX:ORG).

Armour, which is currently in the middle of its initial public offering to raise up to A$75 million, is funding the cost of the well to A$2.5 million to earn its 50% stake in PEP 169.

[Entrep]

Today is the big day holding statements are dispatched and we get to see level of demand for the IPO... Good luck all!

[trackers]

Hopefully we will also get info on number of subscriptions etc as well... Nothing yet for me on my portfolio at Link Market Services: https://investorcentre.linkmarketservices.com.au/

[Corporate]

Guys, just be careful that this doesn't go the way of DTE.

[trackers]

Fair call, given a number of the same players... But remember that AJQ has come about in a far far different way than DTE. DGR's purpose in life is to find good stories and spin them off into their own entities and this one has been in planning since early 2010

[trackers]

I've received my full allocation - I contacted the registry lol :)

Its still not showing on Link Market's online portfolio thing, so if you're in the same boat thats not necessarily a cause for concern

[bung5]

Lakes Oil announcement out today ( AJQ 13% and 51% interested in the current well) saying the rig is onsite and drilling today.
Checked out Lakes share price and its .9c ! AJQ bought 900,000,000 @ .25c a few months ago. Not a bad return at all !

[bung5]

I've received my full allocation - I contacted the registry lol :)

Its still not showing on Link Market's online portfolio thing, so if you're in the same boat thats not necessarily a cause for concern

Nice one, cheers trackers. Did they say when should be showing online?

[trackers]

Nah, just said that they've just completed allotment and statements would be despatched today. Maybe the portfolio online only shows tradeable stocks or something

[percy]

Good work trackers and bung5.

[Entrep]

I thought DGR might announce the take up of the offer etc today

[bung5]

anyone have shares showing up in LINK market yet?

[trackers]

Nope - Nothing showing in Link for me but as I mentioned last week, someone from Link confirmed my allocation... Pretty weird but I'm sure there's a good reason for it.

Nothing in the mail or anything either... I agree with what Entrep says too, would be really interesting to know what the applications came out as, but its probably not hugely meaningful as it wasn't open to the public

[percy]

They will have to pull finger as it lists on thursday.

[trackers]

Talked to my usual broker today, ASB Securities, and they said the shares have been applied to my account also and I'm able to trade them if I want etc... So maybe try ring your broker if you're unsure

[percy]

Have received my AJQ Holding statement in today's post.Yet to arrive is option Holding Statement.

[bung5]

I just checked LINK again and my full subsciption is now showing + options. Bring on thursday!

[crooky]

Have both the Heads and Tails in my account as well . Good Luck to us all !!

[bung5]

pre open bids looks like is going to be strong debut for armour at 1pm

[bung5]

hmm maybe not

[trackers]

Yeah pretty disappointing and genuinely surprising... Still in front thanks to the oppies but its pretty sad. Hopefully all the flippers get it out of the way today :)

[percy]

As always I regret to say I find myself "well positioned" for the upturn.

[Entrep]

Double whammy with DGR well down too

[Entrep]

New lows today. Now officially 20% down!

[trackers]

Sad :( With the benefit of hindsight, upping the offer from the originally planned $50mil to $75mil might have killed potential demand for the stock...

I'm going to back my research and stick with it for now

[bung5]

nothing really changed unless you were planning on trading this stock. Drill results out next week and the week after is what we are really after.
If they hit gas then SP will rocket back up, if not then will linger low until we do.

[Crypto Crude]

I guess its easy to say now... but for the size of this company some other oilers at cheaper mcaps look just as/more attractive...
the delayed listing and extra issue, and cooling nature of sector all played part in a disapointing ipo...

Im personally going to hold off on armour... It could def's be a hit but these sized market caps dont fit into my current strategy... I will be greedy and only invest if the mcap falls apart, and if it runs well gl... im bagging other stocks.. so many too choose cant hold them all...

the sector is going to heat up very shortly... WA is about to be set alight with awe/nwe fracc and all stocks involved will go for a run...

:cool:
.^sc

[bung5]

directors were buying up large on Thursday and Friday

[soulman]

So glad to have sold this for a $5 profit last week at 44 cents.

Wow....lots of nervous nellies around today.

[Entrep]

Biggest IPO of the year and also the biggest IPO flop?

[soulman]

Not the only one getting smashed. Probably with AJQ got to do with the drilling report.

BRU had a green day today with some positive announcement.

One of the worst day of my trading adventure so far. Not sure about it surpassing the GFC era as I did not keep a spreadsheet back then. I knew I shouldn't have start a spreadsheet.

[gazprom1]

Hey SM,

AJQ smashed again. I am still holding....not sure why as it will be a long road. Thought I might have taken a bigger hit y'day but CCU and CUE were flat and BCC was up. Helped off set losses elsewhere especially MEO.

Not sure what direction today...probably some more pain with the small caps!

Gaz

[bung5]

pretty disappointing but we got 2 years of drilling ahead which really decides where the share price to be. 5c or $5

[soulman]

Hey Gaz,

Secretly inside, I knew AJQ was going to be a flop even with the upcoming drilling. The valuation was too high when AJQ listed.

Also, Facebook IPO will be a flop as well I reckon.

I still can't believe GLL has a 40% percent discount to cash and 2 upcoming drilling campaign.

[trackers]

Looks like Morey wasn't a complete waste of time with tight gas and condensate being encountered - Bodes well for other prospects in the permit that have larger relevant formations I guess.

"Drill Stem Test 2 (DST#2) conducted over the interval 1985.5 – 1995.5 metres flowed gas to
surface before fading out over a 3 hour period. In addition, upon reverse circulation, condensate
was recovered and has been sent for analysis. At this stage, the liquids are believed to have
significantly impeded the gas flow.

This flow is typical of tight gas encountered in similar gas bearing sands in the Eumeralla
Formation and potentially opens up the possibility of tight gas across a wide area of the Otway
Basin as has been predicted by several other companies with leases in the onshore Otway Basin of
Victoria.

In addition, the discovery supports the potential for gas and condensate reservoirs in the
Strzelecki Group in the Gippsland Basin."

http://www.stocknessmonster.com/news-item?S=AJQ&E=ASX&N=241842

[bung5]

Yes good to see more director buying interest notices as well.

[gazprom1]

Nice price action today...up 13% to 39. A bit new today re drilling. Have been buying a few more so back to break even after the IPO disaster. Should see continued news flow as have two drills on the go.

Gazprom

[trackers]

Far out! Gas encountered at the first well in the SHALE drilling programme, from 'indetermine zones between 342 and 540 metres'.

That. is. huge.

[gazprom1]

Far out! Gas encountered at the first well in the SHALE drilling programme, from 'indetermine zones between 342 and 540 metres'.

That. is. huge.

Hey Trackers,

Hope you are doing well. I didn't think that was incredibly positive. I read the notice as mildy positve as they did not seem too excited. The days ahead will be interesting as they hit the target areas. Happy that I added to my position but felt pretty bad at the time.

Gaz

[trackers]

Hey Gaz, glad you picked up some cheap and hope all is well with you too... yeah its hard to know how much gas they've really found, but it certainly gives a big tick to the research done so far, and adds some weight to what they think is there... Gas flowing naturally has got to be a great sign in a shale well...

[bung5]

The LKO drilling looks promising as well with previous drills last year

[trackers]

Crazy market... $100mil market cap fully diluted... ~$80mil cash.... $20mil EV for 126,000km2 of hugely prospective shale territory (targetting 18.8TCF and 2billion barrels in just two 100% owned permits), managed by proven Arrow leaders who are delivering the goods from day 1:




Current Depth 1300 metres.

Gas shows from 342 metres to current depth.

Approval to drill to 1800 metres.

Seismic interpretation indicates deeper targets.


The Directors of Armour Energy Ltd (ASX: AJQ) are pleased to report that approval has been obtained to
extend the Company’s first MacArthur Basin well on EP 176 in the Northern Territory to 1800 metres
depth. Numerous gas shows have been encountered through the section from 342 to 1300 metres,
including the previously announced flare of gas shows between 342 and 540 metres depth. A further
significant gas show lasting 3 minutes was also encountered at approximately 1000 metres during drill pipe
connection activities.

The well has now encountered the softer and more organic-rich material that the Company is targeting for
maturity and organic carbon content analysis and is exhibiting faster drilling rates.

http://www.stocknessmonster.com/news-item?S=AJQ&E=ASX&N=242452

Craziness

[upside_umop]

There is 300m shares on issue right Trackers? A few held in escrow by the looks...so still a market cap of about $90m.

I'm looking at the options but they are pretty illiquid and trading quite high?

Will be interesting to see if they can attract a major on t & c's similar to Petrofrontier - Statoil is spending over $200m to gain around a 50% share.

[Corporate]

There is 300m shares on issue right Trackers? A few held in escrow by the looks...so still a market cap of about $90m.

I'm looking at the options but they are pretty illiquid and trading quite high?

Will be interesting to see if they can attract a major on t & c's similar to Petrofrontier - Statoil is spending over $200m to gain around a 50% share.

UU - I've been taking a look at AJQ aswel and starting to think an indirect holding through DGR might be a good play.

[trackers]

There is 300m shares on issue right Trackers? A few held in escrow by the looks...so still a market cap of about $90m.

I'm looking at the options but they are pretty illiquid and trading quite high?

Will be interesting to see if they can attract a major on t & c's similar to Petrofrontier - Statoil is spending over $200m to gain around a 50% share.

$300mil, yep thats right, so market cap = $82.5mil at the moment.. .They raised $80mil cash in IPO, and the cash they had prior to that probably roughly accounts for what they've spent so far, so they're around cash backing plus they've got about $5mil worth of LKO and 100% holding in permits the size of England

[Corporate]

I picked up a 150,000 DGR this morning for 6.5c which I believe is an absolute bargin. The market cap of DGR is equivalent to the value of its holding in AJQ....i.e. half the value of its listed investments.

[Entrep]

DGR now at 6c and proving to be my worst investment ever when combined with the AJQ effect!

[percy]

DGR now at 6c and proving to be my worst investment ever when combined with the AJQ effect!

Feel we are "well positioned" for the upturn.
Good on you Corporate.Makes sense to me.

[bung5]

DGR now at 6c and proving to be my worst investment ever when combined with the AJQ effect!

DGR seems to double up and half again every 3 months on very low volume when it drops

[Corporate]

Feel we are "well positioned" for the upturn.
Good on you Corporate.Makes sense to me.

Thats the thing right. This is an opportunity...buy when others a fearful!

[trackers]

DGR now at 6c and proving to be my worst investment ever when combined with the AJQ effect!

Yeah me too... Can't win them all, thank god for diversification

[crooky]

And me as well , Armour and DGR ............ hope we are near the bottom for all our sakes.

[Entrep]

Yeah me too... Can't win them all, thank god for diversification

Diversified here too, it's all just a see of red, except TEO, which is so illiquid it may as well be red!

[crooky]

Diversified here too, it's all just a see of red, except TEO, which is so illiquid it may as well be red!

How true a sea of Red for the last couple of weeks , in RAW like TEO pretty illiquid but am ahead but can't sell anyhow.

[Caesius]

Isn't it funny how what was touted by some as the IPO of the year is now languishing 60% below its IPO price?

[percy]

Isn't it funny how what was touted by some as the IPO of the year is now languishing 60% below its IPO price?

So funny I am laughing all the way to the poor house.!!!! Again.!!!

[Crypto Crude]

unfortunate the way things go sometimes...
At the moment, the market only seems concerned about the Perth basin, Cooper, and the canning...
would be good to run some good profits and then into this...

AJQ will come into play.... just when is the million dollar question...
:cool:
.^sc

[Entrep]

Down to 17.5c bid and around 300k shares for sale under 20c. A 65% haircut from the IPO months ago.

This decline is relentless. Has anyone who got in the IPO sold? I got rid of my options for $700 on IPO which is nothing compared to the $8k and growing loss I'm looking at.

[Caesius]

Down to 17.5c bid and around 300k shares for sale under 20c. A 65% haircut from the IPO months ago.

This decline is relentless. Has anyone who got in the IPO sold? I got rid of my options for $700 on IPO which is nothing compared to the $8k and growing loss I'm looking at.

I am exposed thru DGR, but I have stopped caring; I bought the parcel when I was a student and it is not worth my selling them now. I don't see why some people are saying how cheap this company currently is. Once all the talk is out of the way they actually don't have a lot that means anything cashflow-wise, and are burning thru what is left fast.

So if the amount I owned was more than a small parcel, I'd sell in a flash. Granted this is strange logic, but I've probably lost more on TAB than the value of my original share parcel :)

[percy]

Anybody taking the opportunity to add to their holdings ? lol.

[bung5]

Anybody taking the opportunity to add to their holdings ? lol.

I will be buying once the downtrend has stopped.

[h2so4]

I am exposed thru DGR, but I have stopped caring; I bought the parcel when I was a student and it is not worth my selling them now. I don't see why some people are saying how cheap this company currently is. Once all the talk is out of the way they actually don't have a lot that means anything cashflow-wise, and are burning thru what is left fast.

So if the amount I owned was more than a small parcel, I'd sell in a flash. Granted this is strange logic, but I've probably lost more on TAB than the value of my original share parcel :)

Seems perfectly logical to me.

If you perceive that your investment was a mistake then surely you would want to correct that mistake.

Then there is rule number 1. I would think that even receiving bank interest on your remaining funds would put you in a better position than suffering further capital losses.

[Caesius]

Seems perfectly logical to me.

If you perceive that your investment was a mistake then surely you would want to correct that mistake.

Then there is rule number 1. I would think that even receiving bank interest on your remaining funds would put you in a better position than suffering further capital losses.

You must think I really go to town on TAB :) I'm happy to leave my measly amount in on the offchance this management cash-go-round decides to do something for the shareholders. Hell it's just as likely as the Warriors winning a premiership right?

[h2so4]

You must think I really go to town on TAB :) I'm happy to leave my measly amount in on the offchance this management cash-go-round decides to do something for the shareholders. Hell it's just as likely as the Warriors winning a premiership right?

I dunno. What are the odds? :)

I wasn't concerned about measly amounts. Chance can work out. Good luck.

[soulman]

I dunno. What are the odds? :)

I wasn't concerned about measly amounts. Chance can work out. Good luck.

Just reading this thread yesterday got me doing research on AJQ. This coy has 61 mil cash and market cap (before today) of 51 mil, based on 300 mil shares on issue. Free asset and free cash. Shares has dropped a third since IPO.

Today's announcement and movement could be the start of a bounce.

[whipit]

Someone has been taking the opportunity to sell into the news today

[soulman]

Not sure about that whipit. Could go mid 20's tomorrow.

[whipit]

Not sure about that whipit. Could go mid 20's tomorrow.

Yea I take it back. Just took a fair while to get moving. Good to see it on the up

[bung5]

Yea I take it back. Just took a fair while to get moving. Good to see it on the up

bought some more today after the announcement of good gas finds. Was always going to buy more at these prices but today could be the turnaround back to the 30's

[Crypto Crude]

i was being very greedy and bidding on ajqo mid 2 centers...\
oh well...
:cool:
.^sc

[trackers]

Yeah i was sniffing around the mid teens but decided to give it a miss for now. I've still got a reasonable amount, unloaded half in the mid thirties. This has easily been my worst call (because i was genuinely and quite wrongly bullish), but still think these guys have excellent prospects.

Might take a few actual fraccs to generate the interest needed to get back to IPO price

[soulman]

Not the rally I thought will happen. Tracks, at cash backing now AJQ, so downside has been formed. Unless they burn cash as fast as LNC.

[bung5]

Not the rally I thought will happen. Tracks, at cash backing now AJQ, so downside has been formed. Unless they burn cash as fast as LNC.


And its off again... Hopefully some more good news to back it up coming next week

[bung5]

And there is the news to back it up. estimated flow tests of 3.5 -4.5 million scf of gas a day. Looking very promising for early development

[trackers]

Armour estimates continuing gas inflow rates during air drilling of approximately 3.5‐4.5
million standard cubic feet per day equivalent based on open flow conditions at the flare
line.


Wow... Still under cash backing haha, wtf...

[bung5]

Can't see that being for long trackers...

[trackers]

3.5-4.5mmcfpd is amazing when you consider that its coming from a formation they've targetted as being the most productive... In a basin they've got 100% of.

As per HC post, mind boggles at the potential...Early days yet though I guess


MBA Petroleum Consultants consider the Barney Creek Formation to be the most prospective unconventional
Shale Gas play in the southern McArthur Basin. Data from exploration and appraisal by Amoco International
suggests that the Barney Creek Formation is oil mature at the surface and predicted to be Wet Gas mature from
350 m to 2,400 m and Dry Gas mature where it is over 2,400m deep. The unusually high thermal maturity at
relatively shallow depths is due to previously deeper mature source rocks being unroofed by erosion of overlying
sediments.

AJQ pretty much own the whole basin... This well, Glyde #1, is part of 100% owned EP171 which has independently assessed prospective resources of 11 TCF (yes, trillion) and 1.2billion barrels oil.

[upside_umop]

Don't think it's under cash backing anymore Trackers!

[trackers]

what a difference a couple hours can make, wow

[soulman]

Definitely. Anything can happen from here. The market post Olympic might be more volatile though. Volume just below AJQ first day of trading. If this thing can be the SIR of mining, maybe more to come.

[bung5]

could see ajq down slightly today then start to climb again tomorrow into the 40's. I think they will change the drilling plan and focus around the new gas discovery

[soulman]

Most of the 14% falls in AJQ today comes from punters that bought in the 40. Wished I sold some in the 40.

[Entrep]

Hindsight is a wonderful thing! Very ugly finish today. I am a lot more optimistic about Armour now we have a discovery though.

[soulman]

Sold out of AJQ after a shocking annoucement. Probably B/E on this one after the initial buy at 19. Oh well.

[Entrep]

What did you think was so bad about the announcement? $3m over costs and the MC goes down over $10m?

[soulman]

I see so many bad things from the announcement Entrep. Not holding on a company with this kind of momentum. As the shares suggest today as well. No positives on the horizon IMO.

[Entrep]

$2m over budget and drill contractor dispute and potential delay to other drilling.

Not arguing with your call to sell (sp well down) just don't understand what is so bad

[Crypto Crude]

yeah entrep...
two weeks ago the market was all over this, now its fallen apart again because of a few cost overruns...
this industry is all about cost overruns...
whats the problem?

when things go bad, boi the market can be a savage

:cool:
.^sc

[bung5]

Looks like could be over reaction to the Victoria ban on fracking . All good, very nice time for me to buy some more .

[Corporate]

I bought a small amount of AJQ today...lets see what happens. Looking for drilling to restart soon and a resource upgrade

[Entrep]

AJQ looking good

[trackers]

yep it is looking good, was thinking about getting more AJQO on open today too, bugger.

[percy]

yep it is looking good, was thinking about getting more AJQO on open today too, bugger.


Trackers
A please explain notice>!!!!!!
Head shares 31cents.Options 7 or 7.5 cents,with 50 cents to pay to convert 31/8/2014. 20 months time.
So heads go to 65cents ie plus 109% before the options are more profitable.?

[trackers]

Hey Percy,

Well yeah when you put it like they're not really a bargain I guess i.e 50/50 on heads or oppies... with just under two years to run if AJQ gets up around 50c (+50%) I'd expect AJQO's to go into the teens (+50%) and be pretty good leverage... AJQ could easily hit 50c with another result like Glyde.

In my defence though I was looking at a low ball bid at 5-6 while AJQ was pretty stagnent which if hit would have added to its value proposition significantly

[Corporate]

I'm very happy with how AJQ is travelling. I wouldn't be surprised to see 50c in the near term once drilling kicks off.

Takeover target IMO.

[percy]

Hey Percy,

Well yeah when you put it like they're not really a bargain I guess i.e 50/50 on heads or oppies... with just under two years to run if AJQ gets up around 50c (+50%) I'd expect AJQO's to go into the teens (+50%) and be pretty good leverage... AJQ could easily hit 50c with another result like Glyde.

In my defence though I was looking at a low ball bid at 5-6 while AJQ was pretty stagnent which if hit would have added to its value proposition significantly

Thanks for the reply.Just thinking I could not see something.?! Best to ask.!!

[bung5]

I'm very happy with how AJQ is travelling. I wouldn't be surprised to see 50c in the near term once drilling kicks off.

Takeover target IMO.

Yes looks like interest in shale gas is picking up again.. along with AJQ.

[Corporate]

I'm still holding AJQ and I bought some DGR today for more exposure. I don't like the DGR business model, but I couldn't help myself when it is trading at about 50% of the value of its listed investments. The market cap is fully covered by the value of the AJQ shares which they own.

[percy]

I'm still holding AJQ and I bought some DGR today for more exposure. I don't like the DGR business model, but I couldn't help myself when it is trading at about 50% of the value of its listed investments. The market cap is fully covered by the value of the AJQ shares which they own.

Makes good sense to me.

[Entrep]

I'm still holding AJQ and I bought some DGR today for more exposure. I don't like the DGR business model, but I couldn't help myself when it is trading at about 50% of the value of its listed investments. The market cap is fully covered by the value of the AJQ shares which they own.

Why not just buy more AJQ? That is the only thing that's gonna drive DGR anyway.

[Corporate]

Why not just buy more AJQ? That is the only thing that's gonna drive DGR anyway.

Already got a few AJQ. Buying DGR is like buying AJQ and getting a whole bunch of other investments for free.

[bung5]

Already got a few AJQ. Buying DGR is like buying AJQ and getting a whole bunch of other investments for free.

Yes always a chance DGR will distribute the shareholdings to its shareholders .

On another note AJQ drilling contractor confirmed. Looking forward to the busy drilling coming up.

[Entrep]

DGR is going to crap... I have pretty much written my investment off in it, but am now concerned it could somehow take AJQ with it (being such a substantial holder). Can anyone see a scenario in which AJQ is negatively affected by DGR's problems? DGR's holdings in AJQ are worth over 6c and it is currently trading at 3.3c with a SP at 3.5c. Something is obviously VERY WRONG.

[bung5]

Don't see how that is possible. DGR shareholding in AJQ is in escrow until next year. I expect by that time AJQ will have defined a substantial resouce and its shareprice to be significantly higher. Would expect it to take DGR shareprice back to a realistic level.

DGR only problem is cash at the moment. once/if it sorts that out would expect it to be trading closer to 7c a share

[Entrep]

Armor had a very strong week, currently fraccing. Next week gonna be very interesting. Well over 50% of my portfolio (gulp) so fingers crossed!

[bung5]

Looks like the start of a major re-rate. Hopefully lots of good news over the next 6 weeks

[Entrep]

Yup things looking good so far

[trackers]

Agree, great steady climb, pretty happy

[percy]

Agree, great steady climb, pretty happy

Would appear "we are well positioned." !!! lol.

[gazprom1]

Would appear "we are well positioned." !!! lol.

I have been "well positioned" since the IPO Percy!!!=)=)

[percy]

I have been "well positioned" since the IPO Percy!!!=)=)

You are not alone.!!!!!!
Me too.!!!
lol.

[trackers]

Would appear "we are well positioned." !!! lol.

Hahaha, definitely! Well, I'm not even well positioned in a lot of stocks so its at least something :)

[bung5]

Great news out!
First successful application of multi stage, hydraulically stimulated, horizontal well technology in the Australian shale gas industry

Continuous gas flows on egilabria 2

[ELYOB]

The gas flare appears disappointing to me , 2' not 15'. Ok it is still unloading but the rate seems slow to me . Await ?

[bung5]

The gas flare appears disappointing to me , 2' not 15'. Ok it is still unloading but the rate seems slow to me . Await ?


Not to sure on flow rates while still draining frac fluid . However the company said it is inline with their expectations and encouraging results.
All hoping it will start increasing in the weeks to come

[Entrep]

Brand new all time lows. This lesson is definitely my most expensive and most prolonged...

[percy]

Brand new all time lows. This lesson is definitely my most expensive and most prolonged...

You are not alone.!!!

[Entrep]

Down to 10c we go. How low can it go?

I'll say it again this is easily my biggest lesson learnt in trading to date... always use a stop loss and never average down!

[whipit]

Down to 10c we go. How low can it go?

I'll say it again this is easily my biggest lesson learnt in trading to date... always use a stop loss and never average down!

Yep I'll admit complete defeat aswell!

[trackers]

And that's all she wrote for Armour folks. Big fail for me, but I'll be taking the 20c hostile takeover offer (plus around 1.5c in LKO on top) and writing this off to experience (which is, investing in the next big thing i.e shale gas, in its infancy, is not being mindful of the sometimes decade or more it takes these things to actually get underway in earnest)