Tsx

[Cuzzie]

Anybody else investing in Canadian oil companies with NZ interests, or trading on the TSX? I talked to a buddy of mine who was a broker and he said that the TSX is the most corrupt stock exchange there is with good old boys in the know making money out of nothing but the good word. Seems that way to me too. The tell tell signs are all there. One is when a price falls it drops and when it climbs it jumps. Could just be fear and greed. It makes me as nervous as hell sometimes but I’m holding tight. The reason for that is ASB trades on the TSX don’t come cheap. I’d love to hear for somebody else trading on the TSX.

[BIRMANBOY]

Sorry no experience on that exchange...but curious as to why you made some "investments" there given what you were told? Sounds pretty speculative....were you going for the big win? Surely there are closer and easier prospects available on the NZX and ASX? I have some NZOG which is a much commented on oil/gas on the NZX but only have it for the dividend not growth. I doubt whether you will find many TSX punters on here but I may be wrong.

Anybody else investing in Canadian oil companies with NZ interests, or trading on the TSX? I talked to a buddy of mine who was a broker and he said that the TSX is the most corrupt stock exchange there is with good old boys in the know making money out of nothing but the good word. Seems that way to me too. The tell tell signs are all there. One is when a price falls it drops and when it climbs it jumps. Could just be fear and greed. It makes me as nervous as hell sometimes but I’m holding tight. The reason for that is ASB trades on the TSX don’t come cheap. I’d love to hear for somebody else trading on the TSX.

[Cuzzie]

Sorry no experience on that exchange...but curious as to why you made some "investments" there given what you were told? Sounds pretty speculative....were you going for the big win? Surely there are closer and easier prospects available on the NZX and ASX? I have some NZOG which is a much commented on oil/gas on the NZX but only have it for the dividend not growth. I doubt whether you will find many TSX punters on here but I may be wrong.

I took that into consideration before I made up my mind and saw signs of inside trading well before I invested. If you look at one of my stocks in particular every time a curtain financial services firm starts dumping, all the other large shareholders follow suit. Some small fish panic and start selling half way to all the way down. That’s the profit taking in the making right there. Then they buy up large and everybody else follows. Now they normally dump when there is good news with movement on the up and just buy back when the price is low enough for them.
No doubt about it being on the dodgy side. If I had followed that curtain financial service firm I would be looking at about $950 Canadian in profit on average before ASB Securities fee - every time. Not much but it does happen more than you think. I was planning on doing just that, but the fees have stopped me so far.
I’m looking at long term for both stocks anyway & as this profit taking has under valued one stock, there will be a correction in price sooner or later.
There are three Canadian Oil Corps that have pretty much tied up most of the licences for the on-shore East Coast (North Island) permits. All three are Canadian Oil Juniors with excellent management teams, two are going great guns on-shore in Taranaki and one is sitting back just waiting for the other two to hit pay dirt on the East Coast. One has just partnered up with another oil Corp that only knows how to make profit and their investment has caught the attention of many North Americans who are getting in on the action. The testing results for the East Coast have also raised eyebrows and drilling starts early next year. The Government has given them the nod and if Labour win next year, the earliest they could interfere would be 2018. I see this as a great investment opportunity but all three are on the TSX and that’s the only reason I’m there.

[BIRMANBOY]

Oh my God...on the other thread (newbies) you said that you got burnt in the 87 market and had been out ever since. You also said that you were a wiser person and had learnt from that. And yet here you are going for the "dodgy". Are you sure you know what you are doing? No offense but I hate to see people gambling with their hard earned dosh....however all up to the individual and may the force be with you.

I took that into consideration before I made up my mind and saw signs of inside trading well before I invested. If you look at one of my stocks in particular every time a curtain financial services firm starts dumping, all the other large shareholders follow suit. Some small fish panic and start selling half way to all the way down. That’s the profit taking in the making right there. Then they buy up large and everybody else follows. Now they normally dump when there is good news with movement on the up and just buy back when the price is low enough for them.
No doubt about it being on the dodgy side. If I had followed that curtain financial service firm I would be looking at about $950 Canadian in profit on average before ASB Securities fee - every time. Not much but it does happen more than you think. I was planning on doing just that, but the fees have stopped me so far.
I’m looking at long term for both stocks anyway & as this profit taking has under valued one stock, there will be a correction in price sooner or later.
There are three Canadian Oil Corps that have pretty much tied up most of the licences for the on-shore East Coast (North Island) permits. All three are Canadian Oil Juniors with excellent management teams, two are going great guns on-shore in Taranaki and one is sitting back just waiting for the other two to hit pay dirt on the East Coast. One has just partnered up with another oil Corp that only knows how to make profit and their investment has caught the attention of many North Americans who are getting in on the action. The testing results for the East Coast have also raised eyebrows and drilling starts early next year. The Government has given them the nod and if Labour win next year, the earliest they could interfere would be 2018. I see this as a great investment opportunity but all three are on the TSX and that’s the only reason I’m there.

[Cuzzie]

Oh my God...on the other thread (newbies) you said that you got burnt in the 87 market and had been out ever since. You also said that you were a wiser person and had learnt from that. And yet here you are going for the "dodgy". Are you sure you know what you are doing? No offense but I hate to see people gambling with their hard earned dosh....however all up to the individual and may the force be with you.

A gambler I am not. Birmanboy, I can see why you have said what you have, however I always take the positive out of the negative and then make a decision.
Firstly, it’s not the investments that are dodgy as they are very sound. The dodgy practice is an organised bunch of investors that hold a high percentage in any given investment. BTW, I have not named the financial service firm above as they are most certainly not part of any dodgy proceedings, but are merely used as a tool collectively by an organised pack of traders - “the good old boys club”. Further more to that, what they do is not illegal period. Volume controls the market price. The dodgy part is the control they gain from percentage numbers - dodgy but not illegal. The fact that there is communication and planning leans towards inside trading.
Back to take the positive out of the negative, if you understand how your investment price is controlled, are happy with what you are investing in, can read the signs and are relaxed about it, then I see that as smarter than not knowing. There are plenty of dodgy practices going on with both the NZX & ASX that you only find out about after it is too late. I’ll run with what I know and can read every time. Having said all that, if the two Canadian Corps that I have invested in were listed on the Mongolian stock exchange, then that’s where I would be right now too.

[Cuzzie]

The Good Old Boys Club is in action again with one of my stocks on the TSX. The stock in question is NZEC and is rolling down from the low 0.40s CAD to the low 0.20s CAN. Within weeks it will be back up to 0.40 CAN. The Brent oil price has got some influence with this drop for sure. Sit back and follow NZEC for a while. I will be posting a "told you so" or "egg on my face", post in two to three weeks anyway.

I will be pulling the trigger again on NZEC if it hits the low 20s. Both TAG & NZEC have news releases early next year before drilling starts for both of them on the East Coast and that's when we should see rapid movement up for TAG, NZEC & MES. I've also got MES shears and where TAG goes MES goes. At 0.07 CAD, MES has got massive potential. TAG, whose price have also come down in recent weeks, knows what the test results are and if they were poor, I don't think they would of opened up an office in the Bay recently.
Charting for NZEC, TAG & MES can be found on the TSX website.

[kiora]

IMHO The issue with the East Coast is not if Oil/Gas is there because thats been proven ,but what are they going to do with it


East Coast gas discovery buoys New Zealand prospects


05/18/1998
























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•Where New Zealand may have new gas supply [191,487 bytes]
A Denver independent appears to have established New Zealand's first commercial hydrocarbons production outside the Taranaki basin.
Completion of a dry gas well at Wairoa near the eastern shore of the North Island opens pay in the East Coast basin.

Kauhauroa-1 tapped dry gas on a structure judged on seismic to cover 5-6 sq miles, said Westech Energy Corp., Denver. Westech made the discovery at the first of four wildcat it planned to drill with Enerco New Zealand Ltd., Auckland, the country's largest utility. The wellsite is 150 miles east of nearest production in the Taranaki basin (see map, OGJ, Oct. 27, 1997, p. 81).

Westech-Enerco holds two tracts just off the coast from the discovery, and Indo-Pacific Energy Ltd., Vancouver, B.C., operates or holds interests in several adjacent blocks.



Recent drilling
Kauhauroa-1, on 1.37 million acre PEP 38329, stabilized at 11.5 MMcfd of gas with 2,100 psi flowing tubing pressure after 60 hr of testing. It flowed at rates as high as 15.9 MMcfd. CAOF exceeded 70 MMcfd.
The producing zone, which was the primary exploration objective, is a mix of Miocene Makaretu sands and limestones at 3,600-4,008 ft. It was tested open hole with no stimulation. No water or condensate surfaced, and gas analyzed 100% methane.

The companies had not yet tested a zone at 2,300 ft, where they detected gas during drilling.

Marketing options face the firms. A gas pipeline extends eastward to Gisborne, and the gas could also be used to produce methanol.

The firms were running casing last week at Awatere-1, 4.3 miles southwest of Kauhauroa-1, to test favorable log indications in Makaretu. TD is 7,007 ft.

The first four wildcat locations are on separate structures and target Miocene sands at 3,000-8,500 ft.

Oil and gas seeps are numerous in the region. Westech said other sites have a higher chance of encountering oil. It has a total of six prospects on the permit.

Asia Pacific Oil Sdn. Bhd., Indo-Pacific, and others plugged Waitaria-1 in mid-1997 on PPL 38312 near Patutahi west of Gisborne. It encountered drilling problems related to swelling clays and mudstones. TD is 4,408 ft, about 656 ft above the main target reservoir, Mid-Mio- cene Tunanui sandstones. The company halted a sidetrack at 3,772 ft and was unable to run logs. However, it reported several drilling breaks that it said might have been evidence of the presence of gas charged sandstones.



Geology, outlook
The East Coast region, or Eastern structural belt, has many surface structures too intense to be worth investigation, the Ministry of Commerce reported. However, several areas contain gentler structures.
The east coast has about 250 gas seeps, at least four major oil seeps, and 50 localities where formations are impregnated or stained with oil. Rocks in these localities include porous sandstones and some fractured formations.

"Plays include Cretaceous sandstone towards the western margin, Oligocene, Lower and Mid-Miocene submarine fan sandstone in the basin axes and eastward, and porous Pliocene limestone in various sub-basins. Some of these probably overlap," a Ministry report said. "Additional possibilities are shallow facies Miocene towards the west, fractured shale and limestone, and possible oil in place within the Waipawa black shale."

About 40 wells have been drilled in the basin since 1874. Westech-Enerco hopes to drill offshore within a year. Water is 60-100 ft deep in Hawke Bay.

Indo-Pacific has begun acquiring seismic, with PEP 38328 and 38332 to get 75 km each and PEP 38330 to get 50 km.

Acreage and interests in the other blocks are:


•PEP 38332, 1,012,000 acres, Indo-Pacific 42.5%, Trans-Orient Petroleum Ltd. 20%, and Boral Energy Resources Ltd. 37.5%.
•PEP 38328, 785,000 acres, Indo-Pacific 40%, Trans-Orient 22.5%, and Boral 37.5%.
•PEP 38330, 1.08 million acres, Indo-Pacific 34%.

[Cuzzie]

IMHO The issue with the East Coast is not if Oil/Gas is there because thats been proven ,but what are they going to do with it

Thanks for that Westect info kiora.
What are they going to do with it? Export most of the oil & gas to China. The USA has cheap surplus gas they are going to ship to China and many Gas Super Tankers are being built right now for that new service. Problem for the Yanks is we are closer to China and will be in surplus soon too. The Chinese like it cheaper naturally and we have a trade agreement with them.
The cheap Gas is undermining the Coal industry over there and that could be a problem here in a few years too.
America is swimming in oil for the first time in decades, they wont be exporting beyond the Americas one would think. NZ on the other hand will be exporting most of our oil to China. Their oil needs will be massive within another five years.
The Port of Napier and Gisborne will be worth keeping an eye on for opportunities in the future.

[kiora]

What are they going to do with it? Well they have been sitting on it for 20 ? years now so ........

[Cuzzie]

Twenty years ago they did not have the techno to get the oil and gas out from that depth, they most certainly do now. Most of it seeped out all by it's self back then.
What are they going to do with it ... go get it baby. There will be more technical issues than the Brakken Oil Fields like clay and depth of the bedrock. The reward is the drive as this oil field is known to be one of the largest of its kind, way bigger than North Dakotas.
I'm looking at a profit take on NZEC with added shears and then running that with MES long term. I could replay that option maybe one more time again before NZEC shear price climbs back to where it should be. MES is the one IMHO.