CUE-> Pantheon of small oil stocks

[trackers]

New Zealand 'set for an oil bonanza'




Investors willing to back the discovery and development of New Zealand oil reserves could be investing in a country at the same stage as Norway in the pre-North Sea era, says a leading US money manager.
Renowned for his bullish views on New Zealand's petroleum prospects, William Buechler insists New Zealand is set for an oil bonanza that will eclipse Britain's North Sea oil boom.
"New Zealand is at the beginning of a country-changing event; the challenge is going to be to embrace the change and get it right. Activity and momentum are increasing but going under the radar screen."


Only last week, Todd Energy chief executive Richard Tweedie confirmed Maari and its adjacent Manaia field in offshore Taranaki were home to 100 million barrels of recoverable oil, making it New Zealand's largest crude oil field and twice the original 50 million barrels found at the Tui fields.



http://www.stuff.co.nz/business/industries/3059510/New-Zealand-set-for-an-oil-bonanza

[COLIN]

I tend to agree that CUE has a lot of positives going for it but I got tired of hanging around while the s.p. sits in the doldrums. I prefer to see my money working for me, so I jumped this ship and boarded another vessel that has wind in its sails, namely a selection of stocks in the biotech industry that are moving forward; to date they seem to be carrying me towards my destination.
If CUE starts to show some further forward progress it is quite possible that I will board her again.

[geezy]

I tend to agree that CUE has a lot of positives going for it but I got tired of hanging around while the s.p. sits in the doldrums. I prefer to see my money working for me, so I jumped this ship and boarded another vessel that has wind in its sails, namely a selection of stocks in the biotech industry that are moving forward; to date they seem to be carrying me towards my destination.
If CUE starts to show some further forward progress it is quite possible that I will board her again.

what is one's usual holding period to see the wind in its sails?

[macduffy]

The Artemis JV saga drags on.

http://asx.com.au/asxpdf/20091116/pdf/31m28tk2fbypk6.pdf

[COLIN]

what is one's usual holding period to see the wind in its sails?

I suspect you can probably guess the sort of answer I will come up with, Geezy. Something like: "I have no hard and fast rule"; "It all depends on the circumstances"; etc. However, my "patience time-span" has been getting progressively shorter, lately, and anything that dips below the 100 days MA - on an overall rising market - is a potential candidate for bailing out. Admittedly CUE isn't quite in that danger zone just yet, but the truth is that my holding was relatively small and I am endeavouring to reduce the ungainly spread of my total portfolio, hence CUE was one that got the chop.

[Crypto Crude]

MEO AGM tomorrow,
and MEO in trading halt today about cap raising...
This could be the time to slip in some of the good oil info...
CUE/WA permits...
:cool:
.^sc

[duncan macgregor]

I would say SHREWDY that you are becoming rather pathetic with your skiting about your stock trading. Anyone buying a stock at 21.5c watch it go down to 10c over a two year period then start boasting about how clever they are when it gets to 24c has a lot of learning to do. My money in the bank this year almost doubled by buying gold ,Silver. PPP, MCR. and barrels of oil. I told you in advance of each and every one of them. Incidently I sold PPP and MCR and the oil and hold gold ,silver. plus property and cash in the bank waiting on the next glaring opportunity. Its not what you earn that counts its what you lose when the tide turns as you still have to learn it seems. Cash in the bank is the best investment of the lot in a downturn waiting to buy from mug punters who flee the market. Smarten up mate I made more playing on MCR this year than you did holding your CUE since you bought it,so get your head back to size mate. I play the market you fall in love with companies. Macdunk

[STRAT]

Whats goin on with CUE Shrewdy ?Another stock thats gone to sleep. Its like death by a thousand paper cuts. Support @ 25c broken at the beginning of the month. A breakout below 23c would be of concern.

[STRAT]

I would say SHREWDY that you are becoming rather pathetic with your skiting about your stock trading. Anyone buying a stock at 21.5c watch it go down to 10c over a two year period then start boasting about how clever they are when it gets to 24c has a lot of learning to do. My money in the bank this year almost doubled by buying gold ,Silver. PPP, MCR. and barrels of oil. I told you in advance of each and every one of them. Incidently I sold PPP and MCR and the oil and hold gold ,silver. plus property and cash in the bank waiting on the next glaring opportunity. Its not what you earn that counts its what you lose when the tide turns as you still have to learn it seems. Cash in the bank is the best investment of the lot in a downturn waiting to buy from mug punters who flee the market. Smarten up mate I made more playing on MCR this year than you did holding your CUE since you bought it,so get your head back to size mate. I play the market you fall in love with companies. MacdunkWhats this?? :eek:

Is the outboard in the garage for servicing today Macca?

[duncan macgregor]

Whats this?? :eek:

Is the outboard in the garage for servicing today Macca? Not bad STRAT I actually had it done on tuesday. Read me like a book EH?. Macdunk

[STRAT]

Not bad STRAT I actually had it done on tuesday. Read me like a book EH?. Macdunklol. Too funny.:D Speaking of outboards. I need one. Know of any good deals going? ( 90 to 150hp short shaft )

[geezy]

lol. Too funny.:D Speaking of outboards. I need one. Know of any good deals going? ( 90 to 150hp short shaft )


all quiet on the cue front !

[JBmurc]

all quiet on the cue front !

till next year I hope brought back in other day 23c 150,000

[STRAT]

all quiet on the cue front !More than quiet Geezy. Been going down for over 2 months now.
broke support on Friday. A drop below 21c would be a worry.

[Financially dependant]

More than quiet Geezy. Been going down for over 2 months now.
broke support on Friday. A drop below 21c would be a worry.

I have ulterior motive but I am now out.......maybe back in next year.?

[Crypto Crude]

Mackdunk-I would say SHREWDY that you are becoming rather pathetic with your skiting about your stock trading. Anyone buying a stock at 21.5c watch it go down to 10c over a two year period then start boasting about how clever they are when it gets to 24c has a lot of learning to do. My money in the bank this year almost doubled by buying gold ,Silver. PPP, MCR. and barrels of oil. I told you in advance of each and every one of them. Incidently I sold PPP and MCR and the oil and hold gold ,silver. plus property and cash in the bank waiting on the next glaring opportunity. Its not what you earn that counts its what you lose when the tide turns as you still have to learn it seems. Cash in the bank is the best investment of the lot in a downturn waiting to buy from mug punters who flee the market. Smarten up mate I made more playing on MCR this year than you did holding your CUE since you bought it,so get your head back to size mate. I play the market you fall in love with companies. Macdunk


What the....
Ive only just spotted this post...

Mackdunk,
Im into stock investment...
that is what I do...
Im not going to give it all up because you told me to...
that is exactly what you said to me...
"give it up"...

Yourve tried all sorts on me over the years...
you told me to dump my CUE at the bottom (10-15c)...
you told me to buy a house at the top of the market on a fixed rate mortgage...
Yourve given me as much bad advice as good advice at many stages over the years...
Ive done my own thing...
and im in a far better position had I listened to you...


Yes I held through the market crash, (after initially selling the lot)...
but I then found the best stock id ever seen (at the time)...
and it was CUE...so I went all in...
Ive been all in 4 times to date...
and all 4 times they have done me well, (even CUE has)...
last year 95% of investors World Wide lost 50% of their wealth...

Much less than that have made it all back... and CUE is up on the market crash...
It has returned for me...

CUE was my choice,
it had all this tasty offshooting activity...
we got abit unlucky with the drill bit, (and Maari delays).. but thats just the way it is... it was only ever delays, and not deteoriating quality of assets... as I told you, the assets were better than what the market knew...
it always was meant to be fully downside protected, with all this upside...
So I went into it on that...
and felt good at night...

we were only ever in a recession...
yet you and your cronies were spouting depression this and that....
scaremongering...
you flipped out on us mate...

cool heads mate....

EVEN though I took on the extra risk of holding stock, I AM still indifferent between holding CUE and holding cash at bank over the last year...
so I have done well in that respect...

In the biggest crash ever, im doing good...
so you can bite my balls...
your so scared of me you wouldnt even turn up when I came to Auckland... LOL....
If I make a bad stock pick are you going to wave your flag at me?

you told me to sell out when CUE was 10-15cents..
you told me to go into cash then...
you over hyped the market crash (just like the general market)...
It was never worth 6500 on the DOW...
...but thats ok...
This is a game of time...
some people dont have much time...
some people do...

It wasnt my fault the sharemarket crashed...
Id never been through a sharemarket crash...

thanks for being a real diick over the last year....

And YES I'D FEEL INDIFFERENT ABOUT HOLDING YOUR CASH AT BANK COMPARED TO HOLDING CUE OVER THE LAST YEAR...
WHATS THE PROBLEM?

your mate Shrewd,
the unwalkable on one...
:cool:
.^sc

[ELYOB]

Some info in todays STO presentation , see the Indonesian stuff .

[geezy]

Some info in todays STO presentation , see the Indonesian stuff .

price down to to weakness in the world oil prices :(

[Jay]

Got me out yesterday for a very small profit

[ELYOB]

Could be a few changes to CUE in 2010 , they must have forward plans as things in the patch move on .....only if they could share these with us shareholders . If CUE goes lower , might be a strategy to buy , sit , wait ,,,,,,,,,,,, x = ([n-1] . z) + { z - [n-1]}

[troyvdh]

..,.a good day for CUE.....mmmm...what gives...

[spike]

People second guessing MEO farm in agreement ?



..,.a good day for CUE.....mmmm...what gives...

[geezy]

non believers bailing out? still looks like a long term buy :D

[seaosh]

Getting fed up waiting for this one though.

[Rif-Raf]

3 positive bits of news with even if nothing much new about it with 1) Maari 2) oil 2% and 3) Free carry on artemis confirmed, yet price down 8% on day. Hate to see what happens when they announce some bad news to the market.

[Crypto Crude]

rif raf-Hate to see what happens when they announce some bad news to the market.

yeah, the share price rises...
LOL...
Im close to going all in on NGE...
will see what happens over the next week
:cool:
.^sc

[geezy]

yeah, the share price rises...
LOL...
Im close to going all in on NGE...
will see what happens over the next week
:cool:
.^sc

has anyone done a PE calculation on CUE?

[JBmurc]

MEO Commits to Drilling Artemis-1
Cue is pleased to announce that MEO has today irrevocably committed to drilling the
Artemis-1 well in permit WA-360-P in the offshore Carnarvon Basin of Western
Australia.
Cue will have a 15% free carry through the drilling of the well.
MEO has stated, in several releases, most recently on 27 November 2009, that
Artemis-1 will test a prospect that has the potential to contain 12 trillion cubic feet of
recoverable gas within WA-360-P.
Participants in WA-360-P are:
• Cue Exploration Pty Ltd 15%
• North West Shelf Exploration Pty Ltd 70%
(MEO subsidiary, Operator))
• Rankin Trend Pty Ltd 15%

NZ’s largest oil field now fully operational
• Drilling rig readied for departure
• Production at Maari tops five million barrels
• On course for new oil from Maari and Manaia fields
The ENSCO 107 jack-up rig is being readied for departure from New Zealand today
following the completion of its work on the Maari oil field project.
“It is very satisfying to get to this point. We are now able to fully concentrate on the
production phase of Maari without interruption from drilling activities,” said OMV New
Zealand Managing Director Wayne Kirk.
The rig was towed from Taranaki to Admiralty Bay near Nelson over the weekend.
This morning, starting at 0800 hours, it will be floated on to the specialist heavy
transport vessel the ‘MV Target’ before being transported to Singapore. The
dramatic manoeuvre involves the ship partially submerging to allow the rig to be
towed into place onto its deck, before resurfacing and lifting the rig, rather like a
dry dock.
“This is an important milestone for us as it marks the formal completion of the Maari
drilling campaign which began in November 2008.”
Over five million barrels of oil have been extracted from Maari since production
began in February 2009, making it the country’s largest oil field and OMV the largest
liquid hydrocarbons producer in New Zealand.
A workover unit is now being installed on the Maari wellhead platform – a small
drilling rig- like structure which will allow repairs and maintenance of the Maari wells
to be undertaken when needed.
“Once the unit is operational in the first quarter of next year our activities at Maari
will be centred on the floating production offshore and storage vessel, the Raroa,
which is anchored 1.5km from the Maari wellhead platform.”
The vessel, which has a rotating crew of 27, receives Maari oil from the wellhead
platform via subsea flow lines.
The ENSCO rig initially drilled eight wells at Maari – five production wells and three
water injection wells. This was supplemented by drilling two further wells at Maari,
the M2A well and the Manaia-1 well into the nearby Manaia structure located south
west of Maari.
The Manaia-1 well is the longest ever drilled in New Zealand at a distance of nearly
eight kilometres or eight times the length of the Auckland Harbour Bridge.
Both wells are expected to begin production in the first quarter of next year.
“This additional oil gives us added confidence that we can keep producing from
Maari over the next 10 to 15 years.”
Latest trade figures show oil is New Zealand’s fifth largest export ahead of seafood
and wine, totalling $1.7 billion in the 12 months to September 2009. Maari oil now
accounts for the bulk of this as volumes from the nearby Tui Field are declining.
“This has been a challenging few years for the project and it’s a tribute to our staff,
contractors and partners that Maari is a resounding success and one that is bringing
great benefits to New Zealand,” said Mr Kirk.
Maari Oil Field
• Estimated reserves of 50 million barrels with an expected life of 10-15 years.
• Plateau production of 35,000 barrels of oil a day (production began in
February 2009)
• Additional reserves have now been tapped, from both ‘M2A’, 50m above the
Maari oil bearing sands, as well as Manaia, 10km south-west of Maari.
Wellhead Platform Tiro Tiro Moana
• Weighs 10,000 tonnes and stands 150m tall – half the height of Auckland’s
• Sky Tower. Sits in 100m of water. The workover unit being installed will
enable any needed repairs of the downhole equipment, such as the electric
submersible pumps, as well as any required drilling intervention work.
FPSO Raroa
• Central production facility to separate the production mixture coming from the
wells into oil, gas and water and stores oil before load-out to tankers.
• Storage capacity ca. 600,000 barrels (1.5 million average car petrol tanks).
• Oil is offloaded at regular intervals to tankers for transport to refineries about
once a fortnight.
Maari Participants
• Cue Taranaki Pty Ltd 5%
• OMV NZ Ltd (Operator) 69%
• Todd Maari Limited 16%
• Horizon Oil International Limited 10%
• (a wholly owned subsidiary of Horizon Oil Limited (HZN))

[STRAT]

CUE has been in an downtrend since Sep while being in an up trend since Feb. It will be interesting to see which line is breached first. If I was a betting man and/or believed what the Fundie's are saying Id say the uptrend should continue. We will see.

[geezy]

CUE has been in an downtrend since Sep while being in an up trend since Feb. It will be interesting to see which line is breached first. If I was a betting man and/or believed what the Fundie's are saying Id say the uptrend should continue. We will see.

pity i got the timing completely wrong

[STRAT]

pity i got the timing completely wrongHi Geezy.
When did you buy in?

[geezy]

sold some right before the rights issue and bought the bulk during the rise :) (as phaedrus would put it , ride the wave) but failed to sell at the peak and now its on the down trend.

[STRAT]

sold some right before the rights issue and bought the bulk during the rise :) (as phaedrus would put it , ride the wave) but failed to sell at the peak and now its on the down trend.The wave or the ripples?
Depends on whether its a long, medium or short term trade for you I guess. I bought in after the break in the trendline in May at 13-13.5 ( marked on the chart by the vertical blue line ). Still hold.

[geezy]

The wave or the ripples?
Depends on whether its a long, medium or short term trade for you I guess. I bought in after the break in the trendline in May at 13-13.5 ( marked on the chart by the vertical blue line ). Still hold.

well at the moment it looks like ripple :D whats the next big news?

[STRAT]

well at the moment it looks like ripple :D whats the next big news?By ripples I mean one could have traded in and out of CUE a few times since I entered ( though CUE in the chart above may not be ideal for this ) but at some point it becomes no more profitable when you consider the work and time spent in order to do so.

Next big news? No idea. Shrewdy would be your man for that question. All I know is CUE are in the oil business or at least I think they are :D

[Corporate]

Hey all,

Given that HZN have 10% of Maari (market cap $428m) vs Cue 5% of Maari (Market cap of $159m). Does horizon's other assets justify the more than double market cap compared to Cue's non-maari assets?

I'm interest in the thoughts of others about this?

Cheers
C

[Crypto Crude]

Corporate-
Hey all,

Given that HZN have 10% of Maari (market cap $428m) vs Cue 5% of Maari (Market cap of $159m). Does horizon's other assets justify the more than double market cap compared to Cue's non-maari assets?

I'm interest in the thoughts of others about this?


hey Corporate,

HZNs main assets are the Taranaki permits (maari, Matariki) etc...
PNG
and China, beibu gulf...
HZN released its Thailand permits last year when it almost folded in the Financial crisis...

HZN's market cap is justified, but it does not justify much more than double CUE's market cap, (taking into account everything else that CUE has net what HZN has)...
so let us have a quick glimpse into HZN's other assets...

if you look at HZN's PNG permits, eg PRL4, the Stanley gas field boarders
NGEs permit PPL 269 (see NGE thread) which could likely see NGE come into this project on some degree down the line...
From HZN's recent performance there is no indication from NGE's sp that Stanley is the reason why HZN has run so hard...
HZN's development in China is not wow wow, cost over runs (given), along with delayed production and flow rates not going to dent cashflows for at least two years from first production (until 2013)... and ROCs chart (HZN partner), is not looking wow...
China is far from being a company maker, only worth 5-10c, on full production... so still a long way to go for that to be realised...

so why is HZN running..?

probably two reasons...
HZN have at least 6 analysts covering the stock,
Bell potter, Euroz, Patersons, RBS Morgans, Wilsons, also stock analysis (Peter Strachan)...
and the other reason, the market is starting to realise just how big Maari really is...

Maari is the reason why NZ exports of Oil and Gas are up 17% for the year ending quarter sept (?) (and thats with Tui in decline)...
There is much bigger things to come here with Matariki...

Too cheap to be true...

CUE will re-rate....
sure thing...
Maari is the biggest oil field in New Zealand and makes CUE a steal... with billion dollar gas reserves (proven), for free... Artemis.... further developments of Wortel, SE gobe gas, and the others in PNG kimu, barikewa... swagga of WA, and INDO...

wow...
Please dont get me started again...
:cool:
.^sc

[geezy]

hey Corporate,

HZNs main assets are the Taranaki permits (maari, Matariki) etc...
PNG
and China, beibu gulf...
HZN released its Thailand permits last year when it almost folded in the Financial crisis...

HZN's market cap is justified, but it does not justify much more than double CUE's market cap, (taking into account everything else that CUE has net what HZN has)...
so let us have a quick glimpse into HZN's other assets...

if you look at HZN's PNG permits, eg PRL4, the Stanley gas field boarders
NGEs permit PPL 269 (see NGE thread) which could likely see NGE come into this project on some degree down the line...
From HZN's recent performance there is no indication from NGE's sp that Stanley is the reason why HZN has run so hard...
HZN's development in China is not wow wow, cost over runs (given), along with delayed production and flow rates not going to dent cashflows for at least two years from first production (until 2013)... and ROCs chart (HZN partner), is not looking wow...
China is far from being a company maker, only worth 5-10c, on full production... so still a long way to go for that to be realised...

so why is HZN running..?

probably two reasons...
HZN have at least 6 analysts covering the stock,
Bell potter, Euroz, Patersons, RBS Morgans, Wilsons, also stock analysis (Peter Strachan)...
and the other reason, the market is starting to realise just how big Maari really is...

Maari is the reason why NZ exports of Oil and Gas are up 17% for the year ending quarter sept (?) (and thats with Tui in decline)...
There is much bigger things to come here with Matariki...

Too cheap to be true...

CUE will re-rate....
sure thing...
Maari is the biggest oil field in New Zealand and makes CUE a steal... with billion dollar gas reserves (proven), for free... Artemis.... further developments of Wortel, SE gobe gas, and the others in PNG kimu, barikewa... swagga of WA, and INDO...

wow...
Please dont get me started again...
:cool:
.^sc

all ur left to do is to get the SP moving upwards shrewdy :)

[shambles]

Anyone digested the latest report? Be interested to hear your thoughts Shrewdy!

[STRAT]

CUE has been in an downtrend since Sep while being in an up trend since Feb. It will be interesting to see which line is breached first. If I was a betting man and/or believed what the Fundie's are saying Id say the uptrend should continue. We will see.Another month and a few more bounces off both trendlines although CUE did poke its head above water once. Why is it, watching this stock seems like watching grass grow or paint dry? :rolleyes:

[geezy]

quarterly report out today

[Corporate]

The caterina prospect is looking very interesting! CUE have 100% and looking to farmout by end of Q1. No big hoooohhha like MEO.

[shasta]

The caterina prospect is looking very interesting! CUE have 100% and looking to farmout by end of Q1. No big hoooohhha like MEO.

Shrewd any connection here re CUE, perhaps down the line?

Work starts on Todd LPG plant


Todd Energy says it has started work on its $65 million LPG plant in Taranaki.

Major earthworks commenced today in the first stage of construction at the company's McKee site, 20km southeast of New Plymouth, managing director Richard Tweedie said.

"Construction work will keep Taranaki businesses busy for the next 18 months, creating in excess of 200,000 man hours of work," he said.

Earthworks, associated storage and load out facilities are expected to be completed in May and main plant construction will take place next summer.

Forty-five people will work on site, however peak periods could see up to 100 workers employed, Mr Tweedie said.

Canadian company Enerflex System will supplying the recovery plant packaged process equipment.

New Plymouth's Transfield Worley will carry out the engineering, procurement and construction, including installation of the LPG packaged equipment and provision of LPG storage bullets and a truck load out facility.

Fabrication work and mechanical and electrical installation work was yet to be competitively tendered to local contractors, Mr Tweedie said.


Todd Energy was also in the process of placing a contract with local engineering company Plant & Platform for pipeline modifications.

Delivery of all LPG plant equipment is expected by December and installation and hook-up construction work should be completed by July next year.

Once commissioned, the plant will enable Todd Energy to produce 27,000 tonnes of LPG a year, sourced from its Mangahewa and Pohokura fields and deliver the product to customers via Todd Energy's retail company, Nova Energy.

- NZPA
http://apn-images.adbureau.net/apn/accipiter/images/AE2.gif (http://ads.apn.co.nz/accipiter/adclick/CID=fffffffcfffffffcfffffffc/aamsz=440X400/POS=POS2/acc_random=63368247638/pageid=2857296472/site=NZH/area=SEC.BUSINESS.STY/keyword=work%20starts%20todd%20lpg%20plant%20energ y%20oil%20gas%20says%20started%20million%20taranak i%20major%20earthworks%20commenced%20today%20stage %20construction%20company%20mckee%20site%20southea st%20plymouth%20managing%20director%20richard%20tw eedie%20keep%20businesses%20busy%20months%20creati ng%20excess)

[geezy]

CUE down to 20, whens the next drill!

[STRAT]

CUE has been in an downtrend since Sep while being in an up trend since Feb. It will be interesting to see which line is breached first. If I was a betting man and/or believed what the Fundie's are saying Id say the uptrend should continue. We will see.Or not.

This unfortunately is the picture with so many right now.

[geezy]

Or not.

This unfortunately is the picture with so many right now.

so we still in the down trend ? :(

[tobo]

Also,
OBV trend is downward, and 200 day EMA just got broken.
Sounds like I ought to be selling out.

(We are supposed to be in Phaedrus' red line, acting on sell signals of particular stocks)

[soulman]

Yep, looks like a drop to 15 -17 possible in the next few days. A sad sight for many stocks dropping like flies and many should be exited early last week when the downtrend in the All Ords was confirmed. How hindsight and warnings from the legend Phaedrus was ignored and punished. Unfortunately, I am also one of the idiots.

[blockhead]

Down 7% in NZ today to 26 and only one buyer showing.....@ 18c

[troyvdh]

Am I correct in thinking that the value/volume of shares traded are minimal...and that perhaps some of us have an investment horizon extending a little longer than whats occuring today.

[STRAT]

Am I correct in thinking that the value/volume of shares traded are minimal...and that perhaps some of us have an investment horizon extending a little longer than whats occuring today.Hi Troyvdh,
Yes and yes. Depends how you play the game eh?

and Geezy, Yes. Still in a short term down trend but whats worse, its accelerating and we are no longer in a medium term up trend.

On a brighter note, US markets might finish green this morning.

[blockhead]

Am I correct in thinking that the value/volume of shares traded are minimal...and that perhaps some of us have an investment horizon extending a little longer than whats occuring today.

Yes of course, most of us are probably in for the long haul but big spikes in a downwards direction are always of a concern, sometimes there are good reasons, sometimes not.

[STRAT]

The long haul can be damn long though eh?

CUE is today worth 2c less than it was when the thread started in mid 2007.

Surely anyone who bought then would rather disappointed with the results from a buy and hold approach to this stock.

Its the wrong stock for that plan I reckon.


Im no day trader but could have done better if Id used all the clear buy / sell signals on the chart I posted above ( marked by vertical lines. Red sell. Blue buy ) from nothing more than trend lines and a few other indicators. The chart is a bit small but the thicker vertical lines are actually multiple lines ( 2 to 4 ) close together.

As it stands I only used the first and last. Buy 13.5, Sell 22.5 in 9.5 months which is a hell of a lot better than buy 22.0. Wait 2.5 years and loose 2c per share and wasnt hard work either.

I will be back when it turns.

It will/should be a good story eventually.

[geezy]

The long haul can be damn long though eh?

CUE is today worth 2c less than it was when the thread started in mid 2007.

Surely anyone who bought then would rather disappointed with the results from a buy and hold approach to this stock.

Its the wrong stock for that plan I reckon.


Im no day trader but could have done better if Id used all the clear buy / sell signals on the chart I posted above ( marked by vertical lines. Red sell. Blue buy ) from nothing more than trend lines and a few other indicators. The chart is a bit small but the thicker vertical lines are actually multiple lines ( 2 to 4 ) close together.

As it stands I only used the first and last. Buy 13.5, Sell 22.5 in 9.5 months which is a hell of a lot better than buy 22.0. Wait 2.5 years and loose 2c per share and wasnt hard work either.

I will be back when it turns.

It will/should be a good story eventually.

Shrewdy's been awfully quiet on this one tho.

Strat, all we need is oil to hit 150 again , when the hedge funds decides that its oil's turn to run and be sure that they will come up with a whole of PEAK OIL stories to go along with it.

i hold too much CUE now and will be pain to let go :(

[STRAT]

Shrewdy's been awfully quiet on this one tho.

Strat, all we need is oil to hit 150 again , when the hedge funds decides that its oil's turn to run and be sure that they will come up with a whole of PEAK OIL stories to go along with it.

i hold too much CUE now and will be pain to let go :(Hi Geezy. I suspect it will happen ( head up that is ) but time can be your enemy. No telling when that will be. 6 months or years? Like you I believe the highs and lows in the POO has way more to do with manipulation than peak oil. Past and present at least
The longer it takes though the bigger the spike will be. Hope Im ready when it comes. Meantime I will plod on with other things. Its too easy to let time tick by holding stocks that dont move fast enough and Im not getting any younger :D. I did this with CUE and VPE. Lesson learned for me.

Of course ones actions are also dictated by other factors like how much you need the money, how big the investment is and how old one is.

Age is a biggie. Im in my late 40s. There are many Traders/Investors here who are ancient :D and others who are young. Different levels of wealth and risk tolerance apply here to. How often have you heard Shrewdy calling Macdunk a wimp or something like that? Fact is they are at different stages in life and should take a different approach. One going hard and the other taking care of wealth preservation.

I suspect you have more time on your side than I do.

Speaking of the young and energetic, you are right Shrewdy has been keeping a low profile of late.

[seaosh]

Speaking of the young and energetic, you are right Shrewdy has been keeping a low profile of late.

Yeah, where is he?

[STRAT]

Yeah, where is he?Gudday Seaosh. Bout time we got the Aucland crew together again. What do you reckon?

[COLIN]

Its too easy to let time tick by holding stocks that dont move fast enough and Im not getting any younger :D. I did this with CUE and VPE. Lesson learned for me.



Them's my sentiments, exactly. CUE and VPE have long been banished from my menagerie. They mightn't be dogs but I can't see the point of doggedly holding onto them and missing out on the upward thrust of the market generally.

[seaosh]

Gudday Seaosh. Bout time we got the Aucland crew together again. What do you reckon?

Would like to but I'm in China at the moment.

[COLIN]

I'm in China at the moment.

Hope you did something with your VPEO's before you left!

[seaosh]

Hope you did something with your VPEO's before you left!

Sold for a loss!

Never mind though. Only had a few and they were effectively free carried anyway.

[geezy]

Hi Geezy. I suspect it will happen ( head up that is ) but time can be your enemy. No telling when that will be. 6 months or years? Like you I believe the highs and lows in the POO has way more to do with manipulation than peak oil. Past and present at least
The longer it takes though the bigger the spike will be. Hope Im ready when it comes. Meantime I will plod on with other things. Its too easy to let time tick by holding stocks that dont move fast enough and Im not getting any younger :D. I did this with CUE and VPE. Lesson learned for me.

Of course ones actions are also dictated by other factors like how much you need the money, how big the investment is and how old one is.

Age is a biggie. Im in my late 40s. There are many Traders/Investors here who are ancient :D and others who are young. Different levels of wealth and risk tolerance apply here to. How often have you heard Shrewdy calling Macdunk a wimp or something like that? Fact is they are at different stages in life and should take a different approach. One going hard and the other taking care of wealth preservation.

I suspect you have more time on your side than I do.

Speaking of the young and energetic, you are right Shrewdy has been keeping a low profile of late.

I second that STRAT, well said, i m one of the young and energetic type :) However, with little movement in 2 years is quite scary (bar the ups and downs), i rather be holding blue chips like RIO.

my target is 30 cents for this baby. I cant help but feel POO is looking up this year. so, POO to save the day!

[yogi-in-oz]

:)

Hi folks,

CUE ..... chart seems to be primed for some news ... double bottom last week
and an increase in volume last Friday, just ahead of a major and positive time
cycle coming into play, from Tuesday next ..... :)

have a great week all

paul

:)

=====

[geezy]

:)

Hi folks,

CUE ..... chart seems to be primed for some news ... double bottom last week
and an increase in volume last Friday, just ahead of a major and positive time
cycle coming into play, from Tuesday next ..... :)

have a great week all

paul

:)

=====

hi yogi are u using ur astrology method?

(no pun intended)

[STRAT]

:)

Hi folks,

CUE ..... chart seems to be primed for some news ... double bottom last week
and an increase in volume last Friday, just ahead of a major and positive time
cycle coming into play, from Tuesday next ..... :)

have a great week all

paul

:)

=====Hi Paul,

Looking for the double bottom but I just cant see it. Could you post your chart please?

[colinm_au]

OSH FY report shows a handy increase in reserves at SE Gobe ...

The increases equate to 150K bbl 1P and 205K bbl 2P ... the 2P reserves stated in CUE's presentation 12/11/2009 were 120K bbl

At A$50 net/bbl the 85K bbl increase could be worth around A$M4.25 !

Looking forward to the interim report out in the next few days and the results of Wasuma 1 drilling ... :)

[STRAT]

CUE still looks weak. Though there appears to be support at 19.5c. Sill hold a few @ 13.5 but will dump them if that support is broken.

[Crypto Crude]

strat,
tell me the hottest stock pick you got...?
im after sunken treasure...
scoober diver mate...
:cool:
.^sc

[STRAT]

strat,
tell me the hottest stock pick you got...?
im after sunken treasure...
scoober diver mate...
:cool:
.^scHaha Shrewd Dude. Youre askin the wrong fella. Take a look at how I fair in stock picking competitions.

How about I tell ya what Ive been doing instead.

The chart below is the DOW with the ASX being the green line

Around the 21/01/10 first red line I cashed up 85 to 90%
left holding
AVBOB
CUE
OROOA

Bought some STX a few days later. Still got em Im afraid ( I would have let em go if Id stuck to the game plan ) currently at break even but by luck rather than good management )

Around the 11/02/10 I started looking for buys again but with caution in mind and tight stops.

Bought
NGE at the last blue line on the chart . All the previous buy signals ignored because of the overall market situation. That said look at the last candle. Short of the DOW and the POO rallying tonight. NGE is extremely likely to fall tomorrow. Looking for support at 16c

Currently watching only/mostly

[Corporate]

Note 6

Subsequent to the end of the financial year, the Directors have agreed to accept an offer for the Group's interest in PRL8 (Kimu) in Papua New Guinea subject to completion of all regulartory and contractual requirements

This is news to me?

Surely if this is a material disclosure for the half-year report, then it should have been released to the ASX/NZX.

What's going on CUE?

[seaosh]

Thanks for pointing that out Corporate.

What is going on here?!?

Setting the stage for a sneaky shafting of shareholders?

[macduffy]

In my experience of them there's long been a tendency for CUE to be run as a subsidiary of Todd Petroleum, rather than a listed public company.

I'll give them the benefit of the doubt here but shareholders could consider communicating their displeasure. Perhaps the answer will be that the interest in Kimu is minor and not of a material nature?

[Corporate]

In my experience of them there's long been a tendency for CUE to be run as a subsidiary of Todd Petroleum, rather than a listed public company.

I'll give them the benefit of the doubt here but shareholders could consider communicating their displeasure. Perhaps the answer will be that the interest in Kimu is minor and not of a material nature?

macduffy - if they disclosed it in their half yearly as a subsequent event...then it is definitely material.

[macduffy]

From the NBR.

http://www.nbr.co.nz/article/cue-energy-back-black-119360

[geezy]

wheres the action CUE? :D

[geezy]

cue heard me !

[STRAT]

CUE on the move today on the biggest volume ( not all that big though ) this year. Worth keeping an eye on I reckon

[Crypto Crude]

CUE and NGE too cheap too be true...
great day...
need a few more like that...
:cool:
.^sc

[trackers]

Anyone know what is happening here re Artemis? A big scandal is happening at the moment it seems..!

Interesting to see the typical SP leaking like a sieve pre-announcement

[STRAT]

I guess anyone trading the short term trend on CUE would have got out a few days ago.

Hey Hoop. Is this one of those cup and handle thingies??? :lol:

[geezy]

should have got out more, strat. only if ! :D gotta wait till q3/q4 for artemis before we see a spike again?

[STRAT]

should have got out more, strat. only if ! :D gotta wait till q3/q4 for artemis before we see a spike again?I dunno Geezy we might get one after this MEO thing gets sorted but in which direction is anyones guess

[geezy]

wonder whats MEO thinkin about.. but yeah will wait and see, cud see some improvements..

[STRAT]

wonder whats MEO thinkin about.. but yeah will wait and see, cud see some improvements..CUEs last announcement pretty much sums it up.

[STRAT]

Hey Hoop. Is this one of those cup and handle thingies??? :lol:If the handle gets any longer might have to call it a ladle

Come on CUE. Lay your cards on the table.

[ELYOB]

They will give the cue for the final act . MEO is not the big player as they may think . Plenty of time , to get them cows....

[STRAT]

They will give the cue for the final act . MEO is not the big player as they may think . Plenty of time , to get them cows....Good call Elyob. Therell be a few MEO share Holders pulling their hair out along the way though and blaming CUE for all their worries I reckon.

[geezy]

worth the wait then Q3/Q4 will be interesting!

[STRAT]

Someone likes CUE this morning. A single trade for 486400 shares followed by 13600

[macduffy]

MEO's news on Artemis is also good news for CUE!

http://asx.com.au/asxpdf/20100414/pdf/31prs46zm8k3r1.pdf

[geezy]

any up on the SP is good news :D

[tricha]

Well Shrewdy the mighty one has crapped on about his T\A and given me heaps in the past and I've never been able to nail him for what he is worth.

Today he set himself up to be rated.

Looks like he's off to a flyer on your favourite share, not.

Looks like u r on the flyer!


26
http://www.stocknessmonster.com/images/green_round_small.gif 2.5 10.6%
4:21 pm

[tricha]

I've seen the closed thread and still don't quite get it all.

tricha, why are you attempting to judge Mr P, with charts posted by Strat?

I'm sure a dectective would have done a bit more homework before trying to enter false evidence into a court!

I as well as many others have a great deal of respect for both Mr P & Strat. Their input to our site is very valued by myself, while yours on the other hand is on the other end of the scale.

Yankiwi - Mr P have a habit of dishing it out, especially when I make a mistake, but because he rarely commits to making a call on a stock, he can never be wrong.

Well he made these statements, it's early days, now we are going to see how good cloud watching really is.
CUE is actually WELL positioned for sucess in many areas, has income generated by multi sources and huge upside potential.

Mr P (3) Struggling to overcome resistance at 24 cents. OBV also failing to overcome resistance. Not recommended.

[seaosh]

What's your point though Tricha?

Today's price action changes the chart. Mr. P's recommendation might now be different.

I'm not sure what we're proving here.

[STRAT]

Dear oh dear.

1 Were they my charts? No
2 Was CUE struggling to break resistance? Yes
3 Does this make the break today more significant? Maybe
4 Can Phaedrus predict when CUE will make a positive announcement? Can I? No
5 Can Tricha hold a grudge for extended periods of time? Yup
6 Had it stayed open, would Trichas thread "rating P" have recieved even more thumbs down from members ? Hell yes

7 Is 10 mil a big turnover? Yes ( biggest day CUE has had in 3 years. Going up only 2.5 cents though tells me plenty of share holders wanted out )
8 Is this a positive day for CUE TA wise anyway? Yup

[troyvdh]

Gee Strat...."plenty of shareholders wanted out"....are you a kinda "half full beer glass " kinda guy....for me as long as Todd et al arent selling I aint leaving .

[mr.needs]

What's your point though Tricha?

Today's price action changes the chart. Mr. P's recommendation might now be different.

I'm not sure what we're proving here.

Totally agree with you seaosh. Unlike FA where the updates come quarterly at best, share prices are dynamic so a TA recommendation could well change from day to day. Phaedrus' comment was that CUE was struggling to break resistance at 24. This is no longer true!

My question is, and I'm not having a go at anyone here, what do you do when your TA signals give different recommendations from one day to another.

Yesterday NGE was the recommendation, today it may have been CUE. What happens if tomorrow things revert back and CUE takes a dive. Can TA be useful if you plan on investing for more than one day at a time. If your investment horizon is say a couple of years. Would the TA recommendations mean you are constantly in and out of the share?

I realise you can extend the length of moving averages etc. to smooth out the bumps so to speak. But I don't understand how you can use constantly changing TA results to invest in a share medium/long term. Is there a way to refine your BUY/SELL signals for different investment horizons?

If so Phaedrus, what would you say the horizon on yesterdays comment regarding CUE's chart was. Days, weeks, months, years?? Is it possible that CUE may today be a BUY if planning on holding for only a couple of days, but not if you viewed your investment as being for a number of months/years?

This is more of a general query on TA itself, than on CUE in particular. I'm certainly no TA expert so your comments will help me learn. Thanks!

[Crypto Crude]

..
.
I hear you Tricha,
You came to the chch annual at B's....
what a collection of minds it was...
I rate you good, but sometimes the way you go about things is suspect....
Im sure you remember when I went down that line with Phae...
.... just like your angle, its a stalemate...
you need to shake hands with the chess champ and call it a draw...cos your just like him, but in a different way...
:cool:
.^sc

[STRAT]

Gee Strat...."plenty of shareholders wanted out"....are you a kinda "half full beer glass " kinda guy....for me as long as Todd et al arent selling I aint leaving .Hi Troy
Am I a glass half empty kinda guy? Depends what day you catch me I guess but with this I believe Im just being pragmatic.

I was only pointing out its been 3 years since this kinda volume has changed hands in CUE. In fact the last time a larger amount of shares changed hands was 4 years ago. On those two occasions it drove the price down 22.5% and up 13% respectively. All Im saying is a 10.5% increase is not significant when compared with the turnover. In addition the candle and intraday chart for yesterday shows a lot of downward pressure as well as upward pressure and even less movement after gapping up.
I hold CUE which has been one of my most frustrating holds so of course Im very pleased its actually going up. I dont think we will have a strong breakout over this but Id love to be totally wrong.

[STRAT]

My question is, and I'm not having a go at anyone here, what do you do when your TA signals give different recommendations from one day to another.
Hi Mr Needs
I would do nothing till that stops happening.

Worthy of note is that Phaedrus did not recommend NGE. What he in fact wrote was that it was the best of the selection offered in the post he answered and the recommendation was wait.

In regard to long term projections. The short answer in my opinion is you cant. TA is a tool for gauging what a stock has done and what it is doing. Based on that you get an indication of what it is likely to do in the near future not what it will do in a years time. FA is by in large the same. Companies will give you projections. Its up to you to decide if you trust them or not. You will see many arguments over which is best. TA or FA. The fact is both should be used together along with anything else that can give you insight.

There is no silver bullet other than info from the horses mouth which I believe is called Insider Trading :lol:

[Phaedrus]

Can TA be useful if you plan on investing for more than one day at a time? If your investment horizon is say a couple of years.Sure. The idea is to use indicators that are appropriate for the timeframe that is of interest to you.


Would the TA recommendations mean you are constantly in and out of the share?Only if you are using very short-term indicators because you want to trade very actively.


I don't understand how you can use constantly changing TA results to invest in a share medium/long term. Is there a way to refine your BUY/SELL signals for different investment horizons? Certainly. The usual way is to utilise indicator time periods appropriate to your investment horizon. A moving average might be 5 days for an active trader, 200 days for a conservative long-term investor, for example.


What would you say the horizon on yesterdays comment regarding CUE's chart was? That was a "medium-term" buy signal. A "short-term" buy signal was triggered back in March and a "long-term" buy signal will be triggered when/if CUE breaks above the long-term resistance at around 29 cents.


Is it possible that CUE may today be a BUY if planning on holding for only a couple of days, but not if you viewed your investment as being for a number of months/years?The latest CUE "buy" signal is not one that would be acted on by short-term traders. They would already be in on the basis of the March trendline break. Those interested in holding for the "medium-term" might want to act on such a signal, but some at least would be put off by the relatively close proximity to the historical long-term resistance mentioned above.

Mr. D, many of the points that you raise have been covered quite extensively in my previous CUE postings. Here are a few links to some of them. Plow through this little lot, and see if things are any clearer for you. If not, just ask.

http://www.sharetrader.co.nz/showthread.php?5040-CUE-gt-Pantheon-of-small-oil-stocks&p=277804&highlight=#post277804
http://www.sharetrader.co.nz/showthread.php?5040-CUE-gt-Pantheon-of-small-oil-stocks&p=269873&highlight=#post269873
http://www.sharetrader.co.nz/showthread.php?5040-CUE-gt-Pantheon-of-small-oil-stocks&p=278269&highlight=#post278269
http://www.sharetrader.co.nz/showthread.php?5040-CUE-gt-Pantheon-of-small-oil-stocks&p=264515&highlight=#post264515
http://www.sharetrader.co.nz/showthread.php?5040-CUE-gt-Pantheon-of-small-oil-stocks&p=248563&highlight=#post248563
http://www.sharetrader.co.nz/showthread.php?5040-CUE-gt-Pantheon-of-small-oil-stocks&p=278073&highlight=#post278073

[steamroller]

I am interested in this stock medium-long term, so I would be better off waiting for the 29c resistance to be broken before jumping on board?

[troyvdh]

Whats up with those 40 50 60 trades...got me beat

[STRAT]

Whats up with those 40 50 60 trades...got me beatOdd eh? and every 2 minutes exactly. What ever it is it appears automated. a bit on the small side I would have thought for a bot though

[troyvdh]

Direct cant explain it..apart from saying it is a little unusyual...every two minutes...

[STRAT]

Direct cant explain it..apart from saying it is a little unusyual...every two minutes...lol
Did you call them Troy? I wonder if they are getting $40 per trade:lol:

My screen shot says its keeping the price up. That has to be good

Perhaps a desklamp has fallen on the enter button on a PC keyboard in a Brokers office somewhere :scared:

[mr.needs]

Thanks for your feedback Phaedrus and STRAT. Definitely helped clear up a few grey areas for me.

Really interesting to note from your post #1237, your trailing stop at 24c went on to become a resistance level. Do you think this was coincidence or something more? How is the trailing stop generated? To me it looks a little like you have drawn a horizontal line just below the lowest points. If your trailing stop was only a little tighter you would have sold out as the uptrend was accelerating. If it was looser, it wouldn't have the stop at the future resistance of 24c.

After a bit of thinking I like the approach that seems to be popular with a few people around here. Basically to use Buffet et al. style FA to uncover all the little gems and then use TA to time your entry (and exit!) to maximise your profit while in the market.

I've (almost) finished a degree in finance where we were basically only taught EMH and Random Walk schools of thought. To be honest, I sometimes question whether or not or lecturer thought TA was the devil!!

I have seen posts of yours in other threads P. mentioning some good places to start learning about TA. Looks like I will have to start reading up on the theory!
Can you recommend something that goes into a bit of detail on short/medium/long term indicators, as opposed to day trading etc.

Appreciate you guys taking the time to answer my questions

[Phaedrus]

I am interested in this stock medium-long term, so would I be better off waiting for the 29c resistance to be broken before jumping on board?Long-term? Yes, in my opinion. A clear break above, say, 30 cents would be a very clear longterm Buy signal.

CUE has been rangebound for many years. Medium-term investors would already be in, but looking to exit if the resistance holds.

Short-term traders would be holding and watching the current uptrend very closely for any sell signals if/when/as the short-term uptrend weakens.

http://i602.photobucket.com/albums/tt102/PhaedrusPB/CUE415.gif

[ELYOB]

Basic FA trader here , but watch TA . I feel CUE will have a breakout in time range Nov 10 -- Nov11 . In this time range , I will be watching Todd mob very closely as they reveal the direction and strategy preferred . Things are to get big .

[Phaedrus]

Really interesting to note from your post #1237 (page 83) your trailing stop at 24c went on to become a resistance level. Do you think this was coincidence or something more? Pure, meaningless coincidence.


How is the trailing stop generated?This was an ATR (Average True Range) volatility based trailing stop. Not everyone has access to trailing stops of this type, but a simple 16% trailing stop gives a very close equivalent in this instance.


To me it looks a little like you have drawn a horizontal line just below the lowest points. If your trailing stop was only a little tighter you would have sold out as the uptrend was accelerating. If it was looser, it wouldn't have the stop at the future resistance of 24c. The trailing stop is fitted to the uptrend. Its parameters are set such that it skims along just behind the on-going price action. Then, when the uptrend loses steam and begins to falter and fall, the trailing stop is hit. Trailing stops are really only meant to be some sort of backstop failsafe device. Typically, they are hit last, after all the trend indicators have already triggered Sell signals.


Can you recommend something that goes into a bit of detail on short/medium/long term indicators, as opposed to day trading etc.A good introductory textbook is "Technical Analysis of the Financial Markets" by John J. Murphy. There is a wealth of info available free on the net, of course.

[STRAT]

Whats going to happen with CUE short term? :D

Huge volume by CUE standards over the last few days but knowing CUE it may just fade away and do bugger all for months to come. Im looking for a sign of new support at 24.5 or a break above 28.0 for some sort of clue

[Crypto Crude]

CUE looking good on a down day...

it has just come to my attention that MOS has also sold out its Kimu stake meaning that theres more to this than whats on the surface because these two juniors have just sold out an asset for literally cents in the dollar...

9million US plus upside for MOS is nothing on what was going to add 16cents per share...

two juniors that have been squeezed like a lemon, and ultimately impacting on the long term value of our PNG exposure....

CUE will realise 1 CPS or so on the sale...
plenty more 1centers of hidden value in the stock...
:cool:
.^sc

[geezy]

theres been good volume on CUE today. is someone accumulating?

[macduffy]

I don't think the 2.2m today was exceptional for CUE but the 10m a few days ago certainly was.

[p2r]

Should be a good update in the next 10 days, although I don't think the March quarter is the full noise for their Kiwi Oil yet as there was a lot of down time rigging stuff.
They must be about the same as Hzn as they have half the shares and half the oil (5%)
And Indonesia gas is a good thing, doing quite well ID I think.
Anyway nothing shoddy about 15c to 26c in a year. Would have been more without the capital raising as all the money is shared between more shares. But definate signs of accumilation. Notice how there is always a big buy up in the morning and then they let it drift back.
I guess if you know what the chartists are doing you can try to minimise the signals as long as possible.

[STRAT]

I don't think the 2.2m today was exceptional for CUE but the 10m a few days ago certainly was.Hi Macduffy

Not exceptional but way above the norm and grouped with the previous 3 days worthy of close attention I reckon

[macduffy]

Today's March quarter report confirms the optimism of recent market trading!
Higher net operating cash flow. Cash on hand now $23m.

[troyvdh]

Dear Shrewd...your somewhat subdued....gee there appears to be quite a few more buyers..than sellers lining up...how significant was that announcement from Petrogas....cheers...

[Crypto Crude]

Troy,
Yes I am rather quiet about Petrobas and Artemis... I am usually quiet about that sort of thing...
I tend to keep myself focused on 'real value adding' activities, as I can not control exploration drilling outcomes.... I have much better control over other functions of an oiler... but in this instance my time scales have been wrong, the market crash had something to do with it......;)... cos im more sure than ever 2 years on...


What exploration we have that really does excite me is Matariki... which is by far our best prospect... I have said it before that Matariki is the best exploration target I have ever seen, and it is backed up by the Geological Society of New Zealand... whatever that means lol.... To me, Matariki has the insider info feel about it, without the insider info..... this is going to be a winner...baggers in the bag feel about it...
oh my...
you know when you read one of B's posts and get that tingling feeling...
yeah, like that...eye popping stuff:scared:...
...
..
.
but, only Artemis can provide us with near term baggers...

CUE is definately going to pop out something much bigger than Maari before it runs out of money...
In time OEL might run out of money before it finds that real winner... and just like a bunch of other asx oilers, fallen stars... PPP could be on that list...

after Artemis, the SP will either be 25cents or one dollar... this sort of thing is a financiers dream...
and some of the stuff we got in our portfolio is still unfactored into the mcap....
its either that, or I think these assets will be bigger than what the market has started to put on them...
This time around, more of the run up will be embedded iin the mcap of CUE if Artemis fails...
...


Ive always missed with the company maker exploration well.. one of thes days im going to hit it, and this year just like in previous years ove got my shot... infact this year ive got two big shots... and im going to have a little gamble, going in with smart odds, in what I call special oil stocks.....
bye for now... Check out BUY for a solid trade... should be 100% in it for a half year investment...
:cool:
.^sc

[STRAT]

Lookin strong this morning fellas

[geezy]

yes indeed strat, will we see us breaking through 30 cents?

[steamroller]

Clear break above 29c = long-term buy signal?

[geezy]

not a clear break yet. still testing 29

[p2r]

Looks as steep a rise as ever has happened and I think last time was associated with a drill. No drill here till Q4 (artimus) and a couple of 3D seizmics happening now... Barekiwa and Matariki ... don't know if that would do it just some clear presentations and rising when other oilers going down so looking positive. Is 29.5 the higest ever? Wasn't there for long. Good rise from 19c in recent weeks. Not takeover ... Must be production which is 1000 BOPD Oyong gas, 1000 BOPD Maari and 1000 BOPD other. The next report in 3 months will be the big Kahuna. I see the market cap is nearly 200 million now 40 mill more than ppp but half that of NZO but they expect it to be 5 times that ... can they do it?

[STRAT]

Clear break above 29c = long-term buy signal?This is how I see it.
I dont believe in long term buy signals and never buy anything to put away in the bottom drawer for the grandkids or whatever but a break above 29 is a sign the uptrend has more legs. We arent there yet.

6th May 2008 all time high @ 29.0 but quite a while ago. Possibly less relevant that the more recent high of
23rd Sept 2009 @ 28.5

or is it?

The 29.0 line is looking more like a clear threshold over the last few days. CUE stopped at this line intraday on Thursday and closed lower. CUE closed at this line yesterday but again it was the days high. If we fail to get through it on Tuesday it will start looking like a major sticking point. Personally I like to see the price go through a line such as this and then find support at the same level in the inevitable future retraces. Waiting for this will of course raise your entry price. I prefer not to buy in these situations. I like getting in when a downtrend has turned.

Worthy of note.
Seems to be strong resistance @ 29
Gapped up Thursday. A bad day for world Markets and or oil on Monday may see the gap filled on Tuesday ( Monday is a holiday in Auz )
Closed on the days high on a Friday ( Traders often like to close positions over the weekend so Fridays tend to be weaker than other days of the week ) and its a new high for this uptrend. This is very positive I reckon.

[STRAT]

Additional indicators. OBV speaks for its self. RSI shows over bought. Thats fine as long as it stays up there. I would be looking for this to drop and take it as a clear warning

[p2r]

Does the fact 43 % of the shares are owned by core shareholders who won't/can't sell them all on market have an effect? Probably that & the low price/cap exagerates the ups & downs.
Most of the rest must be private investors. I am not aware of any institutions that hold cue yet. Maybe it will have to get in an index.

[Crypto Crude]

30cents today? maybe on open...
cant be far off CUE is a steal and getting alot more coverage...
Caterina heating up...
:cool:
.^sc

[STRAT]

30cents today? maybe on open...
cant be far off CUE is a steal and getting alot more coverage...
Caterina heating up...
:cool:
.^scNGE looking good pre open too. Could be a good day for ya

[STRAT]

NGE looking good pre open too. Could be a good day for yaor not :ohmy:

[geezy]

down 1 cent. looks like it has run out of steam to push through 30! :( sell signal?

[STRAT]

down 1 cent. looks like it has run out of steam to push through 30! :( sell signal?Not for me but I bought in the lower teens. Have a look at Phaedrus' last post to me on the NGE thread. Its relevant to that question

[Crypto Crude]

cant open it...
WOODSIDE baby...
:cool:
.^sc

[STRAT]

cant open it...
WOODSIDE baby...
:cool:
.^scMe either and the depth has frosen with bids at 31

[STRAT]

Truckloads for sale. Dont think it will hold. Hope Im wrong

[Crypto Crude]

30cents today? maybe on open...
cant be far off CUE is a steal and getting alot more coverage...
Caterina heating up...

CUE at 30cents...
;)
.^sc

[evilroyrule]

hey guys, getting real strong now. i no longer own, but happy for all those who did whilst it rolled around on the floor. be interesting to see where it finishes. lately the best buy signal seems to be on my sell order. ha!

[Hoags]

Yes fun to watch the 31 line just got cleaned out. People digesting what this ann means for us.

[evilroyrule]

fark. missed that boat.

[geezy]

big news with woodside jumping on board, hmmm will be holding on for the time being to see if 30-31 holds!

its 32.5, i dont even need to wait for 30-31 to stay firm.

[shasta]

big news with woodside jumping on board, hmmm will be holding on for the time being to see if 30-31 holds!

its 32.5, i dont even need to wait for 30-31 to stay firm.

Here's the link

http://www.stocknessmonster.com/news-item?S=CUE&E=ASX&N=335448

[upside_umop]

Very very nice! Well done shrewd for hanging in there.

I started selling down around 27-21 and then missed a re-entry whilst in Manila and starting work!

Very very gutted! Its funny though, I'd say a whole lot of this run up from 19 cents has been to do with Caterina...and hardly any of the rest of the assets...Grr insiders..

I'd be interested to see a comparison of Farm out of MEO's recent farmout with Petrobras and CUE's with Woodside.

[geezy]

down 9% today :(

[blockhead]

Blame the Greeks I think Geezey

[steamroller]

Back under 30c, good time to buy for long term since 29c mark has been breached?

[STRAT]

Back under 30c, good time to buy for long term since 29c mark has been breached?

http://www.incrediblecharts.com/technical/support_resistance.php
http://www.incrediblecharts.com/site_search.php

[mr.needs]

http://www.incrediblecharts.com/technical/support_resistance.php
http://www.incrediblecharts.com/site_search.php

Given the information in the link you provided I assume you agree with steamroller STRAT?

Furthermore, as it is the long term resistance line that has been broken, you expect the new support line to have some strength? 30c is not a new high, but it is the first time CUE has been above 30c since 2005.

[STRAT]

Given the information in the link you provided I assume you agree with steamroller STRAT?

Furthermore, as it is the long term resistance line that has been broken, you expect the new support line to have some strength? 30c is not a new high, but it is the first time CUE has been above 30c since 2005.
It was more a case of pointing Steamroller in the right direction for info that would help him make up his own mind rather than being in agreement. I wouldnt be buying into CUE at this price either way. I like to get on when stocks turn after going down for a while as a rule so its a little difficult for me to suggest buying something I wouldnt buy myself. A lot of people here way smarter than I think this is a great company and thats good enough for me. Im currently sitting on a 100% gain give or take and will continue to hold until it turns undeniably. CUE has a track record for not appreciating in value in a timely manner so at 30c Id be looking for something else. That doesnt mean it isn’t a buy.

29c is a defined point of resistance. Having broken through and the bouncing off today indicates it has become support but I personally think its too early to tell.

OBV has dropped to just below the short term trend line. Pretty close to bang on the line. A rise tomorrow would be nice to see.

I think a lot of short term traders got out yesterday. As the price was firm today on lighter volume I reckon they will look elsewhere and the next few days will be telling.

There are a few sell signals that have triggered in the last few days so Im looking for those to be resolved or I will consider selling too.

Some have made a big thing out of this 29c line which dates back 2 years. Im ready to be corrected by anyone who disagrees but I think the further back a resistance or support line goes the more time that is needed for its current significance to be confirmed.

All in all. Dunno. If I had money to spend Id be looking for something a little more black and white and closer to the start of an up trend.

[geezy]

price has been going sideways . Is this a postive sign, strat?

[upside_umop]

CUE wont be exposed to the 'super tax' as all its production assets are foreign....

[Phaedrus]

Price has been going sideways. Is this a postive sign?Not really, Geezy, but unfortunately that is what CUE tends to do. You can see from the chart that it is still where it was 5 years ago. There are some pretty good trades in there though.

http://i602.photobucket.com/albums/tt102/PhaedrusPB/CUE54.gif

[p2r]

Cue pushed through 29c so looking good with POO & general market flow a bit flat.
Has nearly caught up to HZN ... that is quite flat. Both getting Maari oil.

[Crypto Crude]

read this when you have 10 mins...
Ive just kind of chucked this all together so there are bits of all different topics sort of mixed in...
All up this post packages everything from EU, economy, Rudd, Dow, China, and abit on CUE

The real economy has taken a big hit to stocks over the last few weeks.
After topping out at 32cents CUE has primarily fallen back to 25cents from this EU issue... This new crisis "nana crisis" had started its focus on Greece and has spread to PIGS countries.. well at least the fear of it anyway... This has resulted in major structural changes.. 1 Trillion waiting in the wings is major structural change....
The cut back of debt Worldwide was called for years ago... The Global financial crisis (GFC),kicked it all off...
why are Greece and other EU countries only doing something about it now?
(This gets back to the whole topic of human nature we were talking about during the GFC... Humans cant change....)

This whole nana crisis is blown way out of proportion...

Greece only makes up 2-3% of EU output,
2.7% if I remember...
not much of a dent if Greece no long existed (in respect)...Nowadays it is more to do with the sentiment of everything that controls the sharemarket... and the technological age where humans take no part, where many trades can simultaneously take place...

We are only in a recession, we are not in a depression...!
tell that to the computers!. Right there Im talking about Humans...
Us humans have flaws... sometimes we THINK LIKE A COMPUTER DOES... All the inputs (oh freakin computer term arggghhh)...
yes, we need all inputs to make up the real outlook...
not parts of it...


Could the next big scare be created by Technical analysis...?
The phaedrus's of this world who sell because the computer told them too...?


On another note,
DOW went from 14000 to 6700 in the GFC...
the DOW still bounced back to 11,000 in a great bull market, and needs time to resettle and reposition...
But why have small caps been crushed so badly?
For small caps it looks like the depression is back...
is it because large caps fell as much as small caps during the GFC... probably...
Unlike in the GFC, that this time it is evident that small caps have been hit much harder...
...in the GFC, every stock was dunmped...
..
.
Countries are the most reliable form of repaying lent money to...
If you have too much debt you Raise taxes...
or you could cut spending...
If you are really in debt then make a milkshake, mix it all up like in Greece....
Greece, PIGS, are all good for it...$$$$$...
Give them more money if they need it... dont take it away....lol....
extend thenm abit further on the most reliable investment ever..

All the indicators stack up for an American revival...
House prices fallen so much brings about a new cycle of growth in demand....
consuption indicators have risen.. company growth and profits are amazing...
The market came back too strong since July 2009...
I reckon the current situation is just a natural pullback, and the Oil spill in the Gulf of Mexico getting on the mind of investors all covered over with a new topic... there will be reason to see a sideways market on average for at least this year...

This morning the DOW opened and traded down 250 points just after open, as the day unfolded the index rallyed to close only down 22points, at 10040 points...
The market is still reluctant to hold the Index below 10,000...
...
..
.
over the coming decades,
the shift of new World order will bring Healthcare, Environmental spending to the forefront...
The bad things of this world, and what damaged it will have to be slowly phased out (eventual)...oil....... Im afraid our oil companies are going to have to pay for emissions trading schemes...one way or another it is coming... This super tax if it doesnt go through, it will come back...Clive Palmers you have to accept it will be a real tax some day... lol him holding Rudd to ransom... ...

Rudd wont be back for another term imo...
He has lost alot of confidence of Australian votera...

RUDD HAS BACKED AWAY FROM HIS BIGGEST ELECTION PROMISE...
THAT of the Emissions trading scheme...
maybe it was a good thing he did, but he still did over Australian voters on it...
This new super tax is really building up another front of opposition.. Rudd has slipped and these giant mining companies and their corporte sized resources are going to finish him off...
I am reading some of the stuff going on, it is halarious...
-quoted the austrlian-"We've had a case of a mining boss announcing the tax would ruin his business and then buying extra shares in his company after they fell,"

lol... I oouldnt stop laughing...

Clive Palmers have suggested the sky would fall in as a result... many other mining execs are running scare campaigns... threatening to drop projects...
Fortescue comes to mind...
...
..
.
I am still undecided if China is going to slow down... All the indicators look strong... 8.7% growth last year So many conflicting things happening... The reason why am on the fence about it is Policy risk and what it could do for company profits....
Inevitable inflation will cause the Chinese government to have to tighten... they will raise interest rates, which in turn will lower growth...(well, will they?)...
It would seem that the Chinese can squirrel out of anything...
The key ingredient in thinking through this process is that raising interest rates will cause more people to save, than to spend as they get more interest from bank.. which will result in a fall of consumption/spending...
and a new cycle begins...

Oh in just writing that out I have discovered the answer... (I didnt go back and delete what I said)...
It just comes out as I write it...
China already has an extremely high savings rate... probably the highest in the World infact...
Interest rates wont spur the Chinese into higher savings rates... theres the answer...

China to remain bullish in the hight of new financial dispear...

China pulled us out of GFC...
they will do it again...

Australia and New Zealand, being positioned beautifully in South East Asia are set to benefit on a whole new scale, especially the export of Energy and metals, from much larger projects coming onstream over the years...
we had a small glitch recently...

PNG LNG...
buy a stake in the future output of SE asia..
Am I too freakin smart, or is the market gone all computer on us...
PNG LNG... NGE has fold belt sized permit, right next to the fold belt...a highway of gas fields...
theres an OSH sized company to be found in them lands...
NGE holds the last frontier...
lets hope the few juniors positioned like NGE, CUE, HZN hold onto there assets... MOS already ran...
running scared and stupid...
run away... you were only an insect anyways...

limp and a lean back... see if you can super tax that Rudd...
:cool:
.^sc

[Crypto Crude]

In the light of new published information, the imminent drilling of two offshore major target wells in WA, that of Artemis and Caterina has made the recent sell off of CUE too much... CUE is currently oversold...
Before I even look into these two wells (each one could add $1 to the stock price)...
I know that CUE has current fundamentals, enough to support a much higher market cap at than at 25cps.....

Matariki is the real dream...
Just like what I said about Manaia...
them sands flow oil...
should hopefully be a double of Maari at a giant as stake for CUE...
its still a few years off... I will be 'all in' for Matariki...
Yes, and then the Maoris will still be calling for a public holiday named Matariki 'the god'
on a different topic...... yes the oil god... hahaha...
I will straight up have a holiday on that day every year if we hit Matariki....

And I reckon it hits...

:cool:
.^sc

[STRAT]

CUE is currently oversold...


:cool:
.^scHey Shrewdy. Reckon not. Technically its not ( RSI ) and volume has not been heavy. I think CUE has survived rather well through this last market dive. Any chance you can make it up to Wellington next month with Serpie?

[Corporate]

In the light of new published information, the imminent drilling of two offshore major target wells in WA, that of Artemis and Caterina has made the recent sell off of CUE too much... CUE is currently oversold...
Before I even look into these two wells (each one could add $1 to the stock price)...
I know that CUE has current fundamentals, enough to support a much higher market cap at than at 25cps.....

Matariki is the real dream...
Just like what I said about Manaia...
them sands flow oil...
should hopefully be a double of Maari at a giant as stake for CUE...
its still a few years off... I will be 'all in' for Matariki...
Yes, and then the Maoris will still be calling for a public holiday named Matariki 'the god'
on a different topic...... yes the oil god... hahaha...
I will straight up have a holiday on that day every year if we hit Matariki....

And I reckon it hits...

:cool:
.^sc

Shrewdie..as always I enjoyed your post! Where did you get the gold oil on matariki from?

[ELYOB]

I recon we just might get a rare snap of CUE in July [with June Q Report] . There is something going on ....

[Crypto Crude]

strat-
Hey Shrewdy. Reckon not. Technically its not ( RSI ) and volume has not been heavy. I think CUE has survived rather well through this last market dive. Any chance you can make it up to Wellington next month with Serpie?

yeah you are probably right... it is my sentiment that suggests CUE is cheap...
no other junior oiler on the market like it... BUY Sydney Basin is the only thing that comes close, but hey... the company has not much else going...
TAP maybe...
I wont be coming to Wellington this time... I am house sitting for a friend and im looking after a black Labrador...


corporate-
Shrewdie..as always I enjoyed your post! Where did you get the gold oil on matariki from?

lol you greezer...
I read alot online about the region, and of these sands that are oil bearing on trend across tasman ridge...
I have seen the Seismics of Matariki and they are very similar to that of Maari field...
Geological society of NZ speaks of Matariki highly...

Its not a certain prospect, but to me it has that sort of feel about it...
for a junior oiler, there has been nothing that came close to this exploration well in history...
its the goods... its still some time off...
:cool:
.^sc

[tobo]

I'm not about to start a CUE thread on the NZ side, but has anyone tried to buy (or sell) CUE.nz?
There is so little liquidity and bid/offer spread is currently sitting over 10c !

The attraction for a NZ resident intending to hold long term is : when they start distributing dividends, the imputation/franking credits would not be lost into thin air.

[POSSUM THE CAT]

Tobo Just because it is Dual listed does not necessarily mean you get the franking credits you do not get any credits with ANZ or WBC

[macduffy]

I don't think most investors in o&g shares are in it for the possible future income stream but rather for the prospect of spectacular capital gains following a big strike.

I'm all for being optimistic about possible future dividends but the lack of liquidity would negate the attraction of potential NZ imputation credits, assuming sufficient NZ tax was paid, IMO.

[macduffy]

Tobo Just because it is Dual listed does not necessarily mean you get the franking credits you do not get any credits with ANZ or WBC

Getting off the subject of CUE here but maybe there's now a prospect of some imputation credits from ANZ and WBC?

Now that they've had to pay large lumps of NZ tax!

[POSSUM THE CAT]

Macduffy Westpac had another company to utilize NZ imputation credits but abolished it because it was not worth the trouble

[macduffy]

Macduffy Westpac had another company to utilize NZ imputation credits but abolished it because it was not worth the trouble

I realise that but it's not necessary if a company is prepared to arrange its affairs appropriately. NAB, owner of BNZ sometimes attaches NZ imputation credits to dividends paid to NZ shareholders, as does Goodman Fielder, and others, no doubt. There are other considerations and costs of course and some companies aren't prepared to pay these.

I don't really expect ANZ and WBC to come to the party!

[macduffy]

Good news for CUE with the FIRB giving the go-ahead for Petrobras to buy in to the Artemis project.

Drilling to proceed later this year.

CUE SP up 1.5c.

[blockhead]

Cue sells interest in PNG's Kimu gasfield for US$5.1mill
Monday 28th June 2010


Dual-listed oil and gas company Cue Energy has sold its 10.72% interest in the Papua New Guinean PRL8 licence area, which includes the Kimu gas field.

The sale, announced this morning, comes as Cue prepares to ramp up exploration in the adjacent PRL9 licence area, with the Barikewa-3 exploration well due to be drilled in the second quarter of the current financial year.

The cash purchase is by "a major international oil and gas company," which will remain unnamed until pre-emption processes are concluded with joint venture partners in the PRL8 licence.

Cue, which is 23.5% owned by Todd Petroleum Mining, will continue to hold its interest in the SE Gobe producing oil field, in PPL190, which contains that Bilip, Cobra and Iehi discoveries, and in the Barikewa gas field.

The Barikewa well would allow testing for the field's potential inclusion in LNG projects, pipelines for which run close by the licence area. As much as 1.5 trillion cubic feet of recoverable gas may be contained in the Barikewa field.

Cue shares were unchanged today, having last traded on the NZX on June 23 at 32 cents.

[macduffy]

Now that's odd, because the sale of the PRL8 interest was actually announced in Australia on Friday morning. The CUE SP didn't react to that but did today after the Artemis announcement. A fairly short-lived effect however as most of that increase has now been retraced!

[blockhead]

Always interesting when oil companys say things like "As much as 1.5 trillion cubic feet of recoverable gas may be contained in the Barikewa field"

I mean they might just as well say "as much as 2 cubic metres of sand may be contained in the Barikewa field"

Unless there actually is some oil or gas in the field its just a guess

[Crypto Crude]

Blockhead,
Gas is in them sands... exactly how much is not totally sure...This is why CUE and the JV are going to re-enter Barikewa-3 to appraise and shore up some reserves ...
Barikewa-1 flowed 9MMscf/D

It is a tasty well because of the region... The appraisal nature of the well makes it a lower risk profile, and the onshore nature of this prospect makes drilling cheap to complete...
the PNG LNG development bodes well...

remembering that our stake of Barikewa could be around 22 Million Barrels of oil (BOE),
4 times Maari...
makes this a very significant asset, even though the market has not valued it into the market cap.....
id be offended if the market had...
time will tell... 22 million BOE for free along with everything else free is a pretty good footing, cant knock any market value...or can it?
ive seen mader things in my time...
too cheap to be true...
unbelieveable stock to hold for the long term...
Valuations are nearing 50cents on the stock, around where ive had it for about 2 years... everything is unfolding as per expectation, albiet on abit of time lag...
billion dollar assets, hundred million dollars market cap....
the sale of Kimu does not help support realitive valuations of our other PNG assets...
sickening...
:cool:
.^sc

[Toulouse - Luzern]

Yesterday tried to go higher and closed on its lows...

[macduffy]

CUE having a nice rise - on the back of MEO announcing it has secured a rig to drill the Artemis prospect.

[ELYOB]

I personally dont think Artemis is working , it is other plays . Artemis is a long shot at best .

[Corporate]

I just read the CUE quarterly...they are absolutely humming along! This is a fully funded little oil and gas producing machine.

Very little expenditure coming up due to being carried by Woodside and Petrobras. Looking to farmout other prospectus.

I wonder what they are going to do with all there cash...at the end of next quarter they'll probably have about $45m in the bank. Currently $30m + US$5m + US$5m and then add on another $5m net operating cash flow

any thoughts?

[blockhead]

You might remember, NZO had a pile of cash not so long ago

[macduffy]

Too true, blockhead. Oilys don't have any trouble spending the cash.

Makes a nice change from the regular cash issues that CUE had to make a few years ago to keep afloat!

[digger]

Too true, blockhead. Oilys don't have any trouble spending the cash.

Makes a nice change from the regular cash issues that CUE had to make a few years ago to keep afloat!

You might remember NZO had regular cash issues to keep afloat.

[Crypto Crude]

CUE is nothing like NZO, but there are similarities...
The main difference is that CUE chose to pick up proven undeveloped fields rather than to pursue the high risk/high return path of offshore exploration drilling... (But CUE have that too and free carried)...
this is where NZO made its mistake...
they should have made a play on undeveloped reserves in the height of market dispear...
a few years back, this is what we were saying...

The cornerstone of CUEs future, PNG is on track, and we have almost certain projects coming onstream that will maintain a growing company as we continue to fire off these big target wells as we search for a path, just like NZO to turn into big oil...

CUE a junior with it all, I believe is best positioned to turn big oil...
Matariki Artemis Caterina and others...
we only need one...
watch out AWE we are coming...

I still cant see anything comparable at these prices...
catch you all up...

:cool:
.^sc

[Corporate]

CUE is nothing like NZO, but there are similarities...
The main difference is that CUE chose to pick up proven undeveloped fields rather than to pursue the high risk/high return path of offshore exploration drilling... (But CUE have that too and free carried)...
this is where NZO made its mistake...
they should have made a play on undeveloped reserves in the height of market dispear...
a few years back, this is what we were saying...

The cornerstone of CUEs future, PNG is on track, and we have almost certain projects coming onstream that will maintain a growing company as we continue to fire off these big target wells as we search for a path, just like NZO to turn into big oil...

CUE a junior with it all, I believe is best positioned to turn big oil...
Matariki Artemis Caterina and others...
we only need one...
watch out AWE we are coming...

I still cant see anything comparable at these prices...
catch you all up...

:cool:
.^sc


Totally agree with your view of CUE. It is nothing like NZO and a much better company. I wish I had bought up big when I had the chance around the 18c level. To me it feels like it's reached fair value and won't push much higher unless Artemis comes off, caterina is a fair way away from drilling...love to hear your thoughts SC? When will you sell?

[Crypto Crude]

hey corporate,
CUE Will tick along nicely, but Id say wait for Artemis and hope that it is a duster and buy on share price pull back...

I wont be selling until after Matariki...
but perhaps I might look at CUE as many have with NZO...
a long term vehicle...
:cool:
.^sc

[STRAT]

hey corporate,
CUE Will tick along nicely,
:cool:
.^scand it is Shrewdy. Would love to see it get through 32c

[tobo]

ah, I see, 32c was the high 4 months ago.
it does look like it is on a steady rise, but just went into overbought in slow stoch. OBV uptrend is still holding, so 32c could yet come soon.

Hold

[STRAT]

ah, I see, 32c was the high 4 months ago.
it does look like it is on a steady rise, but just went into overbought in slow stoch. OBV uptrend is still holding, so 32c could yet come soon.

HoldHi Tobo.
Dont use Stochastic but if its like RSI in terms of overbought it doesnt matter as long as it stays up. CUE is a bit like watching grass grow or paint dry but as it turns out one of my longest holds. Started out as a trade about 18 months ago and have let it ride since. Did come real close to dumping it in Feb 2010 though. A few more stocks like CUE and I could become an Investor :ohmy:.


Just had a look at Stochastic. What periods are you using? On my chart it looks like a Lie Detector test:lol:

by the way 32c wasnt just the high 4 months ago. It was also a 5 year high

[tobo]

I was using a 'typical' slow stochastic of 14,21,3 (yes, too choppy for some investing stocks)

A couple of weeks ago, tried a 120,3,3 to smooth things out. Tried it on lots of stocks: I notice 120,3,3 on CUE just gave one signal in the last 6 months (a sell, 4 months ago at about 28c). And now it's gone back into overbought area.
(But I usually act only on several indicators and FA all lining up, and recently trying not to go into a falling OBV. Which can be hard when you want in for FA reasons.) (I am for the main part just accumulating investments I already have as my money supply is not at all like the Fed. eg. a little more PEN, a bit more NAV, then a bit of NWE ssp, then some for my dentist...

I think the choppy market is not helping aid interpretation. Although I can hear Mr. P saying these choppy sp's provide excellent learning material.

[STRAT]

Breakout and nice close on the days high today. There seems to be money flowing into CUE of late. Looking strong

[Crypto Crude]

worth 45c...infact, latest preso's have CUE valued slightly more...
I will have comp picks up this week... hopefully tomorrow...

:cool:
.^sc

[geezy]

nicely humming along guys :)

[STRAT]

nicely humming along guys :)Hey Geezy

Yup and 3c away from an all time high :ohmy:

[p2r]

The CUE presentations have indicated their desire of a long term target price for the company of $1.43 (a market capitalization of $1 billion dollars AUD, based on 700,000 000 shares)

They were quarter way there when it hit 36c today.

broker valuations have the company valued at 50c odd with a oil price around 60c so 75-85 c is better.

Maari and Oyang oil have upside and all that gas too. I like the Indonesian gas as I don't know what price they get but a growth economy like Indonesia is going to be a good market for all thAT oYANG & Wortel gas.

I think the ozzy investment fraternity are getting cue on their radar at last so all good.



I just read the CUE quarterly...they are absolutely humming along! This is a fully funded little oil and gas producing machine.

Very little expenditure coming up due to being carried by Woodside and Petrobras. Looking to farmout other prospectus.

I wonder what they are going to do with all there cash...at the end of next quarter they'll probably have about $45m in the bank. Currently $30m + US$5m + US$5m and then add on another $5m net operating cash flow

any thoughts?

[STRAT]

CUE has run out of gas for now. If she cant make a gain today of all days but those articles published here and there seem to have done their work. If Id bought in recently Id be watching close now.

But I didnt and I aint.

[p2r]

Not much has happened this month except production and good oil price but weakening $US. There's a bit coming up in Q4, 5 weeks to October report should be good, Matariki Seismic, Wortel delvelopment, and Artimus drill in Q4. Might carry through a quiet first Q 2011 but then it's all go. Will be interesting if the price and volume keeps dropping.

[macduffy]

Will be interesting if the price and volume keeps dropping.

Not sure I follow this.

CUE finished today within a whisker of a three year high at 35c in a fairly lacklustre Aussie market. Hardly a weak performance, IMO.

[ELYOB]

CUE could spike ; lot of people like it ....... just a guess 45c possible very soon...

[geezy]

38 today :)

[STRAT]

38 today :)
Thats real close to an all time high :eek2:

[geezy]

isnt the all time high 40 +? as per shrewdy's average entry price?

[STRAT]

isnt the all time high 40 +? as per shrewdy's average entry price?Not sure about Shrewd Dudes average but my charts go back 14 years 10 months

High at close 39c
Intraday high 40c
both 28th June 2005


30th November 2004
open 39c
Intraday high 41c
close 36c

[shasta]

isnt the all time high 40 +? as per shrewdy's average entry price?

From memory i think Shrewds average price was around 21c

[Crypto Crude]

solid...
CUE opened up its biggest sp margin over HZN in 4.5 years...
with half of HZN's stake in Maari, this has been about diversification...
The proven fields/reserves in our portfolio have really failed to mature over the last two years... The current market deals of PNG assets are still low... and continue to
support only a small fraction of real discounted values on Production...

Barikewa will be our key driver of growth in PNG... appraisal drilling will be tasty...
developments in New Zealand and the drilling of Matariki shouldnt surprise, but they will...

Current valuations have CUE discounted...But buying into stocks which have considerable blue sky attached is not what ive ever recommended, or chosen to invest
(apart from when I topped up and had a flutter on Panakawa)...

CUE will have at least 3 chances to top $1 on these 3 core exploration targets... Matariki, Artemis, Caterina...
and if we miss, I will be banking on Barikewa and the growth of our proven fields in what should be 50cent base long term share price with upside...

I will continue to hold... CUE is better than NZO...
the next prospect to turn big oil...
And to do just that takes good time
boi Ive waited...
and wait I will...

:cool:
.^sc

[p2r]

What will be the first sign of artimus drill in the next month or two ... drill rig turning up I suppose.

[STRAT]

CUE is rolling along today. A close of 40 would be an all time high. Thats gonna be some wall to get through I imagine

[upside_umop]

Getting close to 45 cents now Shrewdy...and I'd say a good proportion of that is on the back of Artemis. Funny how things turn out eh?

Wish I had kept on to my original holding of these!

[seaosh]

Stoked with how this one is going. . .

[STRAT]

That wall at 40 held but I nice intraday chart all the same.

Watching the depth over the last 15 min ( like slow motion after watching AVB all week :lol: ) I think I could see traders games being played ( guess on my part ) Hope so. That will get it moving.

Hey Seaosh. Bout time you updated your signature I reckon or do you still have some VPEO in a drawer some where? :D

Beer next month with Shrewdy?

[seaosh]

Just updated the signature - though I'm looking at getting back into VPE. Would have liked to have got in after they announced that maiden profit - but I got no cash!

Would love to catch up with you and Shrewdy over a beer but I'm up in Shanghai at the moment. Not sure when I'm next back.

Great to see CUE finally kicking into gear. Been a long time coming.

[STRAT]

Traders are onto CUE today. Have been wondering if this day would ever come. lookin good

[p2r]

Yes the buy side looks like the biceps of some of those Dehli gymnasts on prime this morning ... and no sign of China or the Todds selling their swag. Just about a 3 bagger from the $15c capital raising. Shame there were no options on this stock - it would have been tempting. I have a feeling a few ducks will line up in this months quarterly in the next week or so, maybe a swan or two and all laying golden eggs. Should start to get some press coverage soon.

[geezy]

well done guys! sold out some at 30 , pity i didnt hold them thru but nonetheless still holding an okay amount :)

[p2r]

Never mind I sold 40 000 for 21c cost me $8000 so far but what I kept is worth $20000 profit or so. The other stuff I bought has been pretty rubbish. Last good stock was PPP which I got out at 40c just before it went to 70c but I doubled my money. Now it is back to 20c.
CUE still going strong at 42c.

[geezy]

Is anyone liking today's share price movement?

[steamroller]

Running with the bulls. Shrewdy's profile pic not far away :)

[macduffy]

Is anyone liking today's share price movement?

Yes, so far so good!

It's all about Artemis at present, isn't it? OK, a strong PoO doesn't do any harm, either!

[troyvdh]

....Geezy...its great....I really wish it would slow down a bit.....Ive never been really keen on frenzies......

[STRAT]

....Geezy...its great....I really wish it would slow down a bit.....Ive never been really keen on frenzies......Naaa Troy. Let it rip I say:t_up::lol:

[p2r]

cue annual report there now

[Corporate]

wow congrats SC - you stayed constantly positive about your CUE and for good reasons. I love seeing that kind of story!

I saw you talking about 40c being a target...at what point will you exit?

Cheers,
C

[Crypto Crude]

upside-Getting close to 45 cents now Shrewdy...and I'd say a good proportion of that is on the back of Artemis. Funny how things turn out eh?

Wish I had kept on to my original holding of these!



upside,
I know what you are trying to get at...
Artemis, Caterina, Zeus prospects, and farm out deals were not apart of CUE when I bought in...
They were just minute fixtures of CUEs portfolio that have now grown into much larger segments with Major farmout news...
I can not take credit for that... I never did...

All I did was suggest that CUEs production and development more than covered a 20cent stock... that other portfolio activities of other developments and appraisal were still to be unfactored (which havent come through yet, and enough to support 45c), and the upside of exploration covered the leverage...

Starting out in Oil, I have made some big calls...
I tipped my first exploration well success of Fireball (LMP), which didnt discover enough reserves and resulted in failure... All the facts id read pointed to a sizeable discovery...The stock doubled in the lead up, and then came all the way back down... I was shattered...
Broker recommendations that came in behind failed its shareholders as I had.. the prospect was sound...Thats the oil game... same deal with NZO... its risky

Since then Ive decided to stick my focus on stages of an oiler that I can control, production development appraisal... The exploration factor with CUE was always there, for without it would have not created the leverage required for me to go all in..... low down big up....
That and other reasons made CUE the best oiler ive ever seen...
I cant control exploration drilling so the imagination of these activities is in the eyes of the beholder...
... I dont talk about it because I cant control the outcomes... and times in the past when I did talk up our explor prospects let to great dissapointment...When it comes to big time explor drilling its always let me down... so I can now only get excited about real things... BOE in the hand...
or BESBS plays...
Others can do the talking there...


who would have guessed that CUE would grow into one of the best exploration staged oilers on the market...
Where I really spotted it in this one was the diverse list of CUEs Joint Venture partners that I ranted and raved on about, these partners are BIG oilers........
This was indirectly foundational for further deals in our WA permits...
...
...
...

Im all round pretty happy Corporate...thanks...hope you are well...
For me Im holding, I get 3 exploration wells min at a crack at a buck...
BUT CUE is no longer savvy investment as criteria for investment ( that id talked about in the past because of blue sky exploration attachement).....
In saying that, I see no personal rush on selling as I look at PNG and 45 million barrels of Oil equivalent as gas reserves into development and exploration drilling along the way....

Blue sky is attached to the stock... exploration faliure at Artemis will see a 30cent stock, cant see it falling below 25c...
This is not savvy investment now... Best bet is hope that Artemis Fails and get entry around there as we path to much higher prices around 45cents on further developments in our portfolio... If you think about that, then CUE is still a steal, but we need further re-rated of this 40 Odd Million BOE before the market is prepared to protect deeper downside on exploration failure...
....
...
..
.
exploration is still gambling,
Oh.... BUT I will talk up Matariki... Exploration god...

NGE up a cent today... Reckoning theres something huge in this... and its oh so cheap... markets are primed...
see you all in the next round...
Im currently in aussie, been at Fraser Island... will get all all updated when I get a moment...
Great Work to The Machine...

as always, final outcomes can only be delayed...
unless that info changes...

:cool:
.^sc

[macduffy]

Manaia oil production has started with around 4,000 bbl per day.

CUE share of 200 bbl.

[ELYOB]

Matariki is scheduled for Dec2011 pending the return of rig to NZ water .... I hear AWE is trying to get in the way ???? of using such rig .

[macduffy]

Good news with Apache farming in to a couple of CUE's WA prospects.

http://asx.com.au/asxpdf/20101021/pdf/31t89xw4ckkgkr.pdf

[Logen Ninefingers]

I love CUE. I've bought into some over-promise/under-deliver dogs and now I've found little CUE and I think they are fantastic. Geez they are lookin good off Western Australia, Geez the revenue out of Taranaki and the Toll / Richard Tweedie factor is sweet as, Geez I love what they did & are doing in PNG and how they made over $5 million there with that little deal, Geez I love the fact that they are just a small team but they manage to do the business in terms of farm-ins and strategic alliances. They have not put a foot wrong in the time I've been following them.

I am absolutely lovin CUE and think they are just about the best thing going around at the moment.

[STRAT]

Hi Logan
The only stock I hold that I dont check every day

[ronthepom]

Hi Strat,
good to see CUE holding nicely eh? i see OEX has been quietly climbing as well, has been a lot of buying this week.

whats your take on OEX.

[STRAT]

Hi Strat,
good to see CUE holding nicely eh? i see OEX has been quietly climbing as well, has been a lot of buying this week.

whats your take on OEX.Hi Ron.If thats a fundamental question I have no clue.
I dont know the company but if I did and liked the companys prospects then
Chart wise
If Id bought in June /July Id still be holding.
In the unlikely event Id panicked after the last spike topped out and sold Id be lookin to get back in about now once a few more signals fired.

[Crypto Crude]

Enough said...
:cool:
.^sc

[troyvdh]

....nice to see that order has been restored....in a funny sort of way it would be enlightning to see into the world of those folk who trade to exist today....and how in the long term they may well prosper tomorrow ....well at least when it comes to CUE....

...Man did I enjoy L Cohens concert last night.....

[Logen Ninefingers]

MEO expects Songa Venus this week


Published: Nov 10, 2010
Offshore staff

MELBOURNE, Australia – MEO Australia Ltd. says it expects to get the semisubmersible drilling rig Songa Venus from Shell by this coming Friday.

At that point the rig will have a seven-day tow to the Artemis-1 wellsite in WA-360-P. Meo is operator through its subsidiary North West Shelf Exploration Pty Ltd. which holds 25%, Petrobras Ibnternational Braspetro PIB BV has 50%, Cue Energy Resources Ltd. holds 15%, and Rankin Trend Pty Ltd holds 10%.

[Crypto Crude]

Hello Cueties....
Drilling Timetable,

Artemis- THIS MONTH
Barikewa-3 (appraisal well)- 2nd quarter 2011
Cash-2 (appraisal well) - 2nd quarter 2011
wortel- (production well) 3rd quarter 2011
Caterina-1 (exploration well) -4th quarter 2011
Matariki-1 (exploration well) -4th quarter 2011

In the Last two years CUE had dissapointing exploration results within its programs in PNG and Bass Basin... this month and next year CUE comes back with a bigger, better, and more diverse drilling programs encompassing lower and higher risk targets ... PNG assets maturing through PNGLNG, spearheaded by the majors, to the farmout and free carrys in WA... through to Taranaki---> Matariki, double Maari... 20% stake vs 5%... and a production well feel about it...
So so special...

Its all in there...
From the early days of building its asset classes, to development of Oyong and Maari... to now where its in a position of growing a much larger, organically grown exploration emphasis stock supported by production stage...
All the stages have been met to enable the company to take on this next phase while protecting the company financially...


The inventory of reserves (near 300 BCF, 45 Million barrels oil BOE) have been the backbone of the company, supporting its downside (theory that didnt hold in the market crash), and have matured to the point that CUE and its partners are going to drill Barikewa and Cash Maple 2011...
I've been waiting years on these wells, leading into development...
The risks stack up very well for success on these appraisal natured wells...

Also with a mixture of World Class offshore exploration, and tasty Matariki makes me feel that its not if CUE gets to one buck,
its when...

Saw it early, this is better than NZO....
Went all in...
I dont know about Artemis, looks promising...huge gamble for MEO...
where its really at are these other prospects and the appraisal wells...
That of which will protect us from the high risk nature of Artemis, Caterina etc...

Its all there packaged up in a tidy small oiler bursting at the seams to flip out the next big whopper....

Best bet now, is to wait on Artemis... go with the 70% COFailure crowd and then get in around 25-30cents...
long term 50 CPS bankable, throw in bad boi WA and you never know...

I never stopped being excited about this stock...
I will walk from an oiler if need be, like what I did with NWE... but not until theres a reason to do so...

2011, biggest year in CUEs history... decades in the making...
better positioned than any other ASX conventional oiler...
juniors to majors.....
OEL insect...


:cool:
.^sc

[p2r]

So 280% in the last 2 years (14c-40c) and Shrewdie predicting 250% in the coming year. Thats great for a company based on real results not hype. Certainly the last year or so they have under promised and over delivered so that is great.
And Richard Tweedie in his speech posted today from the AGM today is starting to rave like shrewdie about this little company. " On the verge of something special...."

[bermuda]

Shrewdy,
Very well said. CUE are really set to perform. Good luck with Atermis. It would be good for all of us.

[macduffy]

CUE report a small oil spill at Maari.

http://asx.com.au/asxpdf/20101122/pdf/31v1h907bg5wyv.pdf

[macduffy]

Wortel project approved for development.

CUE has 15% interest.

http://asx.com.au/asxpdf/20101126/pdf/31v5yfx5jv6j6p.pdf

[blockhead]

What gives with the sp drop today then ??

[geezy]

Results of the drill? or profit taking?

[seaosh]

MEO also down - albeit not as much.

Seems far too early to be results of the drill.

Have they hit a snag perhaps?

But logically, if it is an actual issue related to the drill then MEO should be getting punished far more severely.

Therefore I assume it is profit taking.

[upside_umop]

Five letters - BESBS

[Oiler]

Five letters - BESBS

LOL you legend

[ELYOB]

If you take a 12 month view right now , I wouldn't worry about the Mr Market of this time . This just has to be #1 12 month stock ! The presentations indicate a great 12 months .

[Corporate]

CUE, MEO and MOG all down again today!

If Artimis fails, I'm going to lean into CUE big time. To risky to get in now.

[shasta]

CUE, MEO and MOG all down again today!

If Artimis fails, I'm going to lean into CUE big time. To risky to get in now.

Shrewd

If you have a minute, what has CUE got to offer during 2011?

Ive read the recent presentation, & apart from 1 appraisal well (with Santos), not too much on the exploration drilling front.

[Corporate]

Woodside will hopefully drop a well in Caterina late 2011 early 2012. Mataraki will be 2012 probably.

[Crypto Crude]

your onto it Corporate...
I see no reason why Matariki would be late,
anyway doesnt matter, the summer drilling program will be finalised in time...

hey shasta,
Timetabled events so far are...

Artemis- THIS MONTH
Barikewa-3 (appraisal well)- 2nd quarter 2011, lower risk targeting 1.5TCF of which CUE have near 15%...
"The Barikewa Gas Field was discovered in 1957 by the Barikewa-1 well. The well intersected gas in the Toro and Hedinia sandstones and flowed up to 9 mmscf/d on test. No gas-water contact was penetrated. The Barikewa-2 well was drilled in 1982 but failed to intersect hydrocarbons due to unexpected faulting."

Cash-2 (appraisal well) - 2nd quarter 2011
wortel- (production well) 3rd quarter 2011
Caterina-1 (exploration well) -4th quarter 2011
Matariki-1 (exploration well) -4th quarter 2011

I read that CUE are looking to sell Cash Maple so can exclude that upon sale...

Yeah,
Its not a monster drilling program, but its got something there every quarter, of all classes of risk from high risk, to micro risk... so something to look for on the rebound with basically the whole year BESBS playing, and leading into Matariki and Caterina... of which you know what I think about Matariki...
Wortel Gas to come online which will fetch $5 per MCF compared to just over $3 MCF for Oyong gas...
left field announcements...
more revenues to support...
PNGLNG and Barikewa to mature this prospect into a company maker in its own right...
(very likely to happen IMO) bar CUE selling it...
3D Seimic shoots in numerous permits... hummm Apache in there...
cash cash and more cash...

put it this way,
Im am picking CUE in the ASX and NZX sharetipping competitions...

I hope you are well...

:cool:
.^sc

[shasta]

You read my mind Shrewd, am looking to pick it for the NZX comp ;)

[p2r]

Good 12% rise on problems with to much gas at artemus.

[Huang Chung]

Where's the Shrewd one????

This is his moment of glory!

[Crypto Crude]

Hey Huang,
I wont be speculating about bazooka gas until I know...
secretly im jumping up and down, but professionally containing my emotions...
Im not posting on hotcopper until Artemis is done...
Yesterdays announcement was semi derisking, theres now more certainty gas lies beneath...
not much detail in the report.....
just waiting and not counting eggs until they hatch...
Golden goose potential...

sentiment- neutral...
:cool:
.^sc

[STRAT]

sentiment- neutral...
:cool:
.^sc
LOL but only on the inside

. I doubt youve ever been neutral about a thing in your entire life Shrewdy :D

Good day for CUE today. Looking like money in the bank :D

[Crypto Crude]

The US$15 billion PNG LNG liquefied natural gas joint venture in Papua New Guinea, operated by Exxon Mobil Corp. , may fastrack an expansion to secure buyers, project partner Oil Search Ltd. said Monday.
The desire to move fast comes as rival gas export projects in Australia and Papua New Guinea scramble for Asian customers in a well-supplied market that could be made tighter if Qatar decides to ship more gas to Asia than to Europe and the U.S.
“There’s a window of opportunity in the market and strong competition, and if you miss that window you might be sitting in a queue for a while,” Oil Search Chief Executive Peter Botten told reporters.
The first phase of PNG LNG, capable of producing 6.6 million tons a year of LNG from two production units, is on track for completion in the first quarter of 2014, Papua New Guinea Minister for Treasury and Finance Peter O’Neill told a conference in Sydney.
Exxon Mobil representatives at the conference declined to be interviewed, but Oil Search’s Botten said the project’s existing expansion timetable “is being very actively worked as we speak.”
Exploration drilling in the Hides and P’nyang prospects to find gas to feed a bigger terminal is currently planned to start from mid-2011, stretching into 2012.
“Our whole exploration and development program is subject to review and we’ve made it clear publicly that we’re keen to understand our resource base in all our licenses as quickly as possible,” Botten said.
There shouldn’t be any problem getting relevant license renewals from the Papua New Guinean government to allow drilling to proceed, Botten said.
Botten, however, declined to confirm recent analysts’ reports that a final investment decision for a third LNG processing unit is being targeted for the end of 2012.
Fereidun Fesharaki, the chairman of global energy consultant FACTS Inc., said LNG projects in Qatar are the world’s most economical, with the lowest costs, and that a large Qatari LNG tanker could pull in about US$40 million more revenue from Asian customers than from buyers in the U.S.
For the time being, however, the Qataris have “got into a bit of an argument” with Asian buyers over price.
“When will they turn the ship and bring it eastwards? That’s the question,” Fesharaki said. “If you are an exporter, you have to be aware that this shadow is there. And the sooner you get your act in order, and the sooner you tie up the customer, the better off you are.”
Exxon Mobil’s Decie Autin, who is the upstream project manager for PNG LNG, said contractors are progressing detailed engineering, procurement and execution planning in Japan and have initiated LNG site earthworks.
“Manpower will steadily increase in 2011 to allow us to load the first LNG cargo from this location in 2014,” Autin said.
Almost half of the project’s subsea pipeline has been manufactured by a separate contractor, she said.
:cool:
.^sc

[Crypto Crude]

Heres just some thoughts on what other things we have to look forward to while we wait on our Artemis results....


Ok, so to continue on...
So PNG is made up of 3 key large discoveries in western and southern highlands PNG.
These fields are Hides, Angore, Juha gas fields.
These fields tie in the PNG LNG project, looking to shore up further reserves.
In the release above OSH clearly state they want to understand their resource base very quickly...They want to increase their reserves tying in CUEs interests...
Barikewa is it...
Beautiful location... Huge target...

Should sufficient gas be proven by Barikewa -3 , the field Will be incorporated into PNG LNG. PIPELINE LINKING PNG LNG IS LOCATED within 10 kilometres of Barikewa field... and a 1 TCF target 120 BCF CUE... We are talking half a billion in revenues our stake... this aint no journey man in Africa... Our path is road mapped, no not even that...
this area has GPS tracking and we are going to be lead right to the location of Gas... you betcha...
Its proven to be there... just that Barikewa-2 had unexpected faulting, new Seismic that has delinated this...

On a reserves basis, post a Barikewa discovery, a fire sale would be worth 60 Million dollars 50c MCF... discounted on production, worth more...
Uncertainty over exactly how much gas Barikewa holds and the fact that theres huge scope for upside makes any valuations complex....But as a basic starting point, around 15-20CPS seems right....

Barikewa will be additional to support at my long term average, BUT,
We still need a WA bazooka, for CUE to become a major ASX gas player...
:cool:
.^sc

[blockhead]

Shrewdy, what sayeth you now, down to 40c in NZ, is this the time to back up the truck ??

[Crypto Crude]

id wait a few days, let the dust settle...
although,
it seems about right,

:cool:
.^sc