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Trying to buy but being a little sod! Put in an at best order of 140,000 shares. Come on ENEG be a good little share and let me see 10p this year :)
back in feb. I took an interest in eneg after learning YA involvement with eneg .....YA are renowned for shorting a share after they get involved with them for 6 months or so. thought I would look see where things stood but looking at the trades I suspect they are still shorting here looking at the 70-80k trades around 11am each day. cant imagine it lasting much longer didn't expect the sp to fall this much to be honest (expected 5.33 from 8.6 ) I suspect over the next 2-3 weeks the shorting stops an then would be the best buy in opportunity even now would be a good time to top up if your already invested cant see this falling much more. exact same thing happened at DOR as soon as YA stopped shorting the sp slowly rose 50% over the following 6 weeks on no news without the downward pressure from YA . definitely going to keeping a closer eye here over the next couple of weeks.
KeywordCompanyEPIC/TIDMSEDOL/ISINNews Price Announcements Fundamentals News Article RSS Enegi Oil PLC (ENEG) Add to Alerts list Print Mail a friend Thursday 03 July, 2014 Enegi Oil PLC Block 22/12b, Central North Sea, Update RNS Number : 2906L Enegi Oil PLC 03 July 2014  ENEGI OIL PLC AIM ticker: 'ENEG' OTC ticker: 'EOLPF' 3 July 2014 Enegi Oil Plc ("Enegi" or "the Company") Block 22/12b, Central North Sea, Update Enegi, the independent Oil and Gas Company, today provides the following update on Block 22/12b in the Central North Sea which contains the Phoenix Discovery (the "Phoenix Field"). The work programme, pursuant to the terms of the Farm-in agreement entered into with Azimuth Limited and announced on 11 February 2013 (the "FIA"), is nearing completion. Azimuth Limited's appointed affiliate, Strike Oil Limited ("Strike"), has obtained 3D seismic and well data and has performed detailed subsurface analysis of both the Phoenix Field and exploration prospects within the licence area. The results to date are very encouraging, as seismic and local well studies are able to resolve and prove the presence of oil bearing Forties reservoir around the previously drilled 22/12a-10 exploration well. This means the target has effectively been de-risked, with minimum case reserves being identified within a four-way dip-closed depth structure. The Partners' efforts are now focused upon resolving the volume of oil contained by the stratigraphic closure in the surrounding area. Based on the results of the subsurface studies, Enegi undertook an assessment of the suitability of developing the Phoenix Field with either a Self-Installing Floating Tower ("SIFT") or a Production Buoy, concluding that that the SIFT solution is able to provide the most appropriate technical and economic development solution for the field. The development scenarios being considered include the number of production wells and possible requirements for water injection, the environmental conditions at the location of the field, the hydrocarbon characteristics and resulting topside facilities required to handle the production. The Phoenix Field is a Palaeocene aged Forties sandstone and is situated between the Nelson and Montrose fields where the hydrocarbon systems and types are well understood providing analogue data that will assist in the preparation of field development studies. The engineering work being completed for the Fyne Field will also provide a significant benefit in advancing the Phoenix Field development studies. The Company expects that the process engineering can be adapted and, as the water depth is similar, the SIFT structural design can be re-used to reduce the time and cost of engineering work, leveraging prior investment in the solution. Further subsurface work will be completed over the coming months and is focused on d
ENEG haven't done terribly well with the equity swap agreed with YA Spivs earlier this year. In fact, judging by the terms of the deal they've done rather badly. Which leads me to suspect there may be further dilution on the way quicker than expected. Hopefully ENEG will sweeten the pill with some good ABTOG news.
Sorry mate, just a quick financial look at AEY for now (I seem to have my fingers in too many pies already). First glance at 2013 balance sheet - it looks OK to me. Based on shareholder funds/NAV it looks cheap. As you say has cash and no borrowings. Yeah, so could be value here, will look at other fundamentals etc later. I see they have their AGM next week... atb
bet my wedge here is smaller than yours...AEY has rights over Fyne & some cash..interested in yr assessment
Good show old boy. I haven't put a big wedge in here. Just enough that I can tuck it away and watch with interest over a long time frame. Its not a show stopper for me if it doesn't work out. AEY - I have no knowledge about?
Of investing here. Its no longer about the Canadian interests, as much as they 'may' eventually produce something (don't hold your breath). Its not about Jordan (thats about to blow up anyway). Its not about vague talk of Shale Gas in Ireland. Nope, its about ABTOG. Your bet here is on this seemingly unlikely technology completely transforming this companies prospects. Most people will continue to scoff. And maybe they will be correct. Or maybe not. IF they are wrong, and you invest a few bob now, in five years time you could make an absolute fortune. The degree of possibility of success has INCREASED since Wood Group got seriously involved. These guys have a vested interest in growing this nascent oil industry make no mistake.
Yes thats the way I read it too! BSE: Canadas answer to ENEG!
basically you don't own nuffin' yet, and by the way, get your finger out......
I realise we have not always seen eye to eye, I genuine feel for you Mark, I am hoping you are showing paper losses only, I know you believed in Enegi Oil and the story that would unfold. Same for you Danpoe. I still have around 30k shares but sold out over 250k at significant loss. My message to you is simple, if losing faith in Enegi, why stay in there? I also did the same for far too long, never traded and built up quite a few but in the last month I have traded other shares, I am not trying a subtle deramp, or would tell you who to invest in, there are plenty upsurging AIM shares at the moment. I have made back all the money I have lost in 2013/2014 during the last month and for this I am greatful, it ,may still all go wrong for me but I am feeling much more confident than at any time in the last two years over my investment choices. IF Enegi does pull something off then I will be back in quickly, they will always be on my watch list but I am far, far happiers being out of them, a 100% rise would take us back to 11p, plenty time to get onboard if the story changes. I bought in for NF and still believe this should be their focus, nothing I have seen to date convinces me they have a company maker in Buoy technology, still a ways off yet and still struggle as to why they would manage it over the big boys.. I genuinely wish you well, but being out of Enegi (Almost) has given me a better perspective, I hope it has not been too painful financilaly for you but I suspect you hav taken quite a hit.. If remaining in , I hope it pans out for you. OW1
So,true Mark. We were such stanch supporters of "Eneg once....& would not hear a bad word against them. I cannot find anything good to say about them now,they seem so incompetent as well as BSE. Cannot believe they have spent yrs on the pap# well @ Ghs with a promise of flow rates of 1/2k bpd...yet nothing....maybe a trickle but not really producing anything for the market to take note. So why no pump /all those wasted acid soaks.....?? beggars belief. Minty's other baby ABTOG with us moving forward with the WG deal...still yrs in the pipeline with that...just like GHS was once& look how that's turned out now.. Eneg/Bse..keeping throwing the ball back to each other,so yet another wasted year ,cannot even get the Rig on sight.. Will NF..ever come to fruition.. with these two .Aggggg...what a way to run a company. Still they get paid,so they don't need to worry. I hope you can get back to the iii board...with your new sceptical views,it would surprise a few there which would be interesting.. I hardly look @ the Sp/ or ... Rns updates anymore,as i don't expect much. (Sad Face) We still live in hope...one day, if im still around..lol.
Your post on ii Well said I can't add, just that I am losing the will to live, are these Muppets real. Some sort of surreal dream the incompetence here, defies belief. Only in dreams does it get this ridiculous. I am gobsmacked!
AEY interesting as well?
From ABTOG website: The size of the market for our buoyant technology is large and growing. The Wood Review noted that the average UK offshore discovery is now less than 25 million boe and that many undeveloped fields are considered to be marginal. It is expected that the number of marginal fields will continue to grow over the coming years as: larger fields reach the end of economically viable life, others will be stranded as ageing conventional production facilities are decommissioned, and, new small fields are discovered. Using data provided by Infield Systems Limited, we have identified over 1650 undeveloped discoveries worldwide in water depths that fall inside the parameters of our buoyant technology. At a conservative estimate, 412 fields, each containing less than 30 million bbl, lie within our ideal operating depths of between 60 and 250 meters. Of these, 312 have reserves of less than 15 million bbl and fewer than 100 have yet to be awarded licences by their host governments. Initially, our focus is on the UKCS, where marginal hydrocarbon fields contain 5 billion boe. In our primary UKCS target – undeveloped assets containing less than 30 million boe – there are an estimated 84 suitable fields with collective reserves of approximately $70 billion. Our advanced buoyant technologies provide a solution that will transform marginal field economics and unlock vast resources for the UK and across the world.
Check out the website, rather neat. http://www.abtoilandgas.com
To put my money where my mouth is. Showing as a sell. Think this could look like a steal in a few months time. I see this as a company which perennially fails to deliver and now it finally has produced something potentially transformational the market ignores it. But make no mistake now that this little minnow (valued at just £11m!) has an industry heavyweight backing and partnering it everything has now changed.
I think this is one of those announcements thats gone right over the markets head. However, sooner or later the penny will drop and when it does this will rerate substantially. The point is ENEG now have a top partner for this venture. Arguably the best. The whole concept now has CREDIBILITY. The problem is the markets lingering perception of ENEG is a failed company that simply doesn't deliver. Well, that started to change today.
MOU with Wood Group http://www.investegate.co.uk/enegi-oil-plc--eneg-/rns/mou-agreed-with-wood-group-psn/201406120700154218J/
should merge with AEY ....and get hold of all Fyne and US$17m...all for less than net cash lol
Continuation of yesterdays rise . Great to see.
Four times normal volume today.. This ones had so many false dawns I'm saying nothing.
Good to see. Nice buys through the day. GLA
….and, I daresay, some hot money chasing LGO as well.
More buying interest this morning. We're overdue an update on BSE drilling programme.