mackdunk picked on the wrong person... hes now in deep...
Quote:
Hey Shrude Crude,
can you tell us anything in WA-389-P
ELYOB,
theres not a heap of information floating around...
Ive seen nothing on prospects in that permit...
CUE have 5 permits in Carnarvon Basin,
Two in the North
WA 409-P
and WA 389-P
and 3 tied in with MEO WA-359-P,WA-360-P,WA-361-P
yes... 5 permits...
The 3d Seismic survery by OEX last year only captured a small part of the north western boarder on our permit WA 389-9 (350-450 square KM's)...
we own 100% of it...
and 50% of WA-409-P...
http://media.wotnews.com.au/asxann/00838713.pdf
There is very minimal information around about 409, and 389 in the North... I highly believe that CUE are going to farmout stakes in these permits for a free carried well, and work program (similar to 359,360,361)...
as CUE will lose them if they do not apply minimum work commitment...
As for their prospective nature...
On trend with Ratkin and contains similar exploration plays to blocks 359,360,361...
at the moment its all for free...
Minimum work commitment on 409 is a 2d seismic survery for a cost of 3 million dollars...
and secondary work commitment to drop one well at a cost of 25million dollars... this permit was awarded in May 2008, and I believe no work commitments have taken place to date......
CUE will farm them out...
looks attractive for a farmin partner with all the recent hype in the region.....
We will get 15% of Artemis free carried for no cost...
...
Did anyone read the OEX announcement about it farming down its 25% stake to 10% for a free carry for two wells later this year, and reimbursment of costs to date...
200 million barrels of targets...
good hype value...
lots to be excited about...
far more excitment in real assets, a bird in the hand is better than two in the bush...
exploration is just that...hopefully a bit of fun in this region over the next few years...
Artemis looking on for early next year...
offers requested by 31st August... and hoping to have a deal by 30th September...
for me im just going to keep quiet about all of this, its going to unfold over time, im more focused on what we have, those real assets than buying into hype speculation and manipulation......
I will let those on HC pump it up, hopefully we go for a run on two birds in the bush...
a whole lot of supporting activities coming up...
yeah harrgghhh...
Mackdunk,
I sense that your backing off after that post...
come back mate...
round 2...
this is just heating up........
http://www.sjgs.com/spot.gif
..^sc-strut on that...
"I personally dont make mistakes when I go in large" (Shrewd Crude)
Quote:
Originally Posted by
Shrewd Crude
When an investor buys a stock based on fundamentals, they buy because they see value, future value...When the stock prices falls, that value increases...so the more it falls, the greater the attractiveness of the stock...
Right! - so the more they buy!!! Here is a salutory example of just such an approach. Read all these comments carefully - there is a lot to be learnt a lot from a chart such as this. Observe the pernicious practice of "averaging down" in action!
Regardless of what Shrewdy claims, the fact is that everybody makes mistakes. The important thing is what you do after that. To my mind, it is crucial to recognise any mistake early and to do all you can to limit the damage. The posters here were so sure that they had assessed the fundamentals of this stock accurately that they were unwilling, indeed unable to accept that they had got it wrong. Some even bragged that they never used stop-losses! Month after month, their optimistic prognostications were crushed as the inexorable downtrend continued. They were in a hole but did they stop digging? No, they dug deeper, buying more and more, averaging down as the shareprice progressively collapsed. Throwing good money after bad. See how these posters influenced each other with their comments - threads like this become support groups for those that have all made the same mistake. The effects of "group think" are all too evident as they lead each other down the garden path.
http://h1.ripway.com/78963/PEM2008.gif
This stock is now at less than 40 cents. I haven't named it in an attempt to protect the identities of the poor misguided sods that wittingly or unwittingly contributed their comments to this chart.
mmm be great kicker for the CUE SP if they make a good discovery
RELEASE
Spikey Beach -1 Update
T/38P – Bass Basin
Beach Petroleum Limited, the operator for a designated area of interest within permit
T/38P, and the Spikey Beach-1 well reported yesterday (26/08/2009) that:
“It is expected that the Ocean Patriot semi-submersible drilling rig will be assigned to
Beach Petroleum for the drilling of the Spikey Beach-1 exploration well (Beach earning
80%) in T/38P in the Bass Basin offshore Tasmania on or around the 30th August.
Spikey Beach-1 will be addressing mean recoverable oil of 16 million barrels and a
high side of 41 million barrels (recoverable) of oil in the Upper Eastern View Group”.
The participants in Spikey Beach-1 well are:
Beach Petroleum Limited (operator) 80%
Galveston Mining (100% Cue Energy Resources Subsidiary) 10%
Exoil Ltd 10%
Any queries regarding the announcement should be directed to the Company on
(03) 9670 8668 or email mail@cuenrg.com.au.