junior oilers

  1. 1,317 Posts.
    Quiet opening to the week for the junior oilers. Companies involved in upcoming Perth Basin drilling, now just over a month away, including AWE, NWE, VOY, BUY have all risen from last week's closing prices and on increasing volumes. VOY has been a particularly good performer with the market absorbing the new capital raising without any problems though existing shareholders could have reason to be annoyed at missing out on the opportunity to top up at a 10% discount to the market. Still the raising was quick and cheap. Only HDR sp has yet to reflect any anticipatory price strength. Perhaps road shows will help tho interest understandably seems to be on Mauritania and not much else. (thanks mangrove for your report)
    We should start to see some increased media attention as first Cliff Head drilling nears (Jan 6?) which in turn should stimulate more interest in the stocks mentioned and hopefully higher share prices. Time is running out to get aboard.
    Oil and Gas Bulletin's top bargain of the week is AYO, a stock Yogi suggested would pull back to 50 cents before trending up again to test 73 cents. Yogi has got it right so far with AYO retracing to a close of 51 cents this arvo (after touching 50 cents intra day) from 56 cents last Friday. Now for the run up.
    Other stocks included in Quentin's most exciting second tier stocks include CVN, AMU, DLS (showing signs of stirring, it has actually traded for the last two days!!!) KRZ and PSA. His best first tier stocks in the last issue were HDR,AYO,ARQ,ROC and PPP.
    Market has been disappointed by CVN's report on Wichian Buri with shares closing down today at 0.057. Looks like traders don't want to do the hard yards with the company and as the prospect of quick gains evaporates they jump ship. CVN sp may look very different in 6 months time if you have the patience.
    Jingemia JV partners met today. Production testing starts later this week and full evaluation of the well and decisons on development options and more development wells will take 4-6 weeks. No doubting the commerciality of this one IMO. Could be worth a net $500,000 pa per 1.5% of interest to stake holders at flow rate of 2,000 bopd.
    CUE continues weak though an announcement on Wortel should be close. Pity the Bilip daily reports have ended. HZN has done nothing to indicate it is any different from the old BLO, absolutely no news about Chott Fejaz and/or Bosavi. Sps are a very ugly levels tho up a tick on the close tonight. No reports today on PPP's Immortelle well in the Carnarvon Basin but result should be close, it was a shallow well. Luck all. JBC
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