wonder if the big buyer is now active again on asx as high volume back again
[after flushing out the cheap sellers]
M
Printable View
wonder if the big buyer is now active again on asx as high volume back again
[after flushing out the cheap sellers]
M
Ignoring the drill run during hector
This is a 2nd bite in the high 20s recently.
PPP seems to really lag all other mid-tier producers and juniors.
Just checking TAP Chairman's address today.
Well Maitland looks extremely positive with 2 apparaisal wells for Q3/Q4 this year.
Check it out:
http://www.asx.com.au/asxpdf/2008042...905jcsfthz.pdf
I like TAP's very positive view in this report.
Why don't we hear this from PPP management? Or don't seem too anyways
Hey Machine, was over in Perth for couple of weeks just recently. Very nice! Very, very nice!
Sharp
Hi Taijon,
I cant buy back in otherwise I might be had up for sharetrading. I used to have a totally useless portfolio of about 20 stocks that I had compiled through Broker recommendations and tips from friends. Then I read that book about the Gnomes of Zurich and did some thorough research on about 40 oilers. One of them stood out.
NZO at 26 cents.
So in keeping with the book's philosophy I sold all my stocks and bought over a million NZO. A few years later I was able to retire. Since then all I do is study oilers and occasionally I see something I really like and accordingly I now own NZO, PRC, BOW, PES, RPM, VPE, VPEO and TEX. This Coal Seam Gas is the fuel of the future in Queensland and I have half a mind to ask NZO to take VPE out. They could with all the cash they are getting from Tui. ( there is a rumour around that AWE are lining up a Coal Seam Gas investment)
This Queensland CSG is attracting worldwide interest from Japan, Britain and India with plans to liquify it and export it as LNG to an international market at ever increasing international prices. For instance British Gas has taken a 10% ( increasing to 20%) in Queensland Gas ( QGC ) and just yesterday British Gas secured the rights to supply the burgeoning Singapore market with LNG out to 2020,, and they outbid Woodsides to do it.
This CSG is big and has the backing of Rudd also who wants to reduce the amount of coal fired electricity. CSG is much much cleaner. But that aint nothing compared to what's going to happen with the export of LNG.
That's why I am into BOW, RPM, PES and VPE. These fellows also have a pretty useful oil program as well. (with Santos )
But hey, PPP will get taken out and you will get your rewards. And as you know NZO has stardom written all over it. But for pure leverage I am very happy with these CSG babies. Cheers
Bermuda why is it that no-one has talked about AWE in a trading halt? Are they planning to take out this VPE you are talking about?? Seems they are out until Tuesday.
Digger,
I thought this trading halt was about ARQ but they could be on the move again. But doubt it at this stage.
Interesting to see that Bruce Philips ( ex AWE ) has taken up non executive Board seats on AGL and Sunshine Gas. Both big players in the CSG market.
Digger, you should get some CSG's.
Fuel of the future. There is some big rationalisation coming up with these Queensland CSG companies and AWE's cash could be part of it but that is only a guess.
Still think the halt is to do with ARQ. Cheers
It's clearly to do with ARQ.
Both companies are in trading halt.
;)
Ok i found what i wanted.
AWE to buy Arc Energy for $479 million
Wire services
Oil and gas producer Australian Worldwide Exploration (AWE) is proposing to buy compatriot Arc Energy for A$508 million (US$479 million) in a cash and share deal, unnamed sources said.
"It's a cash and share deal which will value Arc at about A$1.58 a share," said the source, who declined to be identified because he was not authorised to speak on the matter.
Shares in AWE and Arc Energy were placed on a trading halt today ahead of an announcement about a proposed transaction.
AWE gave no details of the planned deal in a brief statement to the Australian stock exchange.
Oil minnow Arc Energy said on 14 April that it was in talks with AWE about a possible takeover bid by AWE. Shares in Arc have surged 45% since the announcement to close at A$1.54 on yesterday, while shares in AWE closed 3.3% higher at A$3.78.
AWE's proposed buyout comes on the heels of a flurry of corporate activity in recent months, with junior oil and gas outfits seeking mergers to boost production profiles amid rocketing oil prices, which struck an all-time high of $119.90 on Tuesday.
A merger between the two companies would give AWE more exposure to two projects in western and southern Australia in which both companies have stakes.
AWE, which has a market value of about A$1.6 billion, has production assets in Australia, New Zealand and Argentina. It produced 4 million barrels of oil equivalent in last year.
In February, AWE said a strong increase in revenue and cashflow on the back of robust production rates had left the company with a strong balance sheet and zero debt.
It had cash reserves of A$97.5 million as of 31 December last year.
Arc Energy has production assets in the Perth basin off Western Australia and in the Bass basin off Victoria. It also holds exploration licences on the onshore Canning basin of Australia's north-west, reported Reuters.
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24 April 2008 01:41 GMT | last updated: 24 April 2008 02:33 GMT
Taking aim: AWE targets Arc Related articles
thanks.
so is whangarei when we were we last there in 2002
see tap will have to debt fund a fastrack development for maitland [amazing since all the money they had years ago] [and have a contract to supply burrup at way below present market rates for years to come]
ppp will need a swag of ready $ to fund their share of maitland development - say and this is a big guess - aud$50m just for their 10% share.
a fastrack development would start in 1st half 2009.
M