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Permits for drilling should be approved by end of this month so they actually can start drilling immediately after the start of the new year so january is realistic.
I agree there is no need to pump a stock, but there is no need to bash it either.
A good stock/story will sell itself. If you buy this stock then you buy in the hope that the potential will be realised. We will know more in january when drilling is underway and if it will be a success story or a failure.
They sold their Cooper basin assets (operated by Terra Nova) for a rather small amount:
On October 6, 2014 the Chelsea sold certain working and non-producing overriding royalty interests to an arms-length private company for $831,251.
Looking for an entry point here, this company has some interesting assets but will take a wait and see attitude first, looks like a bottom hasn't set in yet.
Interesting and lot's of potential, thanks for posting, will look into this.
genstock, did TGC drop any updates/hints as to how big the possible value is of the seismic territory ? Since they increased the possible drilling locations from 6 to 8 then I assume things keep getting better and better and the valuation keeps rising.
Also interesting items will be financing/dilution for TGC/HENC.
Thanks for your continued information sharing. Will see if I can free up some more money to pour into this...
OK, I see it's now corrected on their website, eight now seems to be the correct number. Doesn't anyone reread the PR's at TGC before sending it out, this isn't the first time it happens, it's not professional.
They are "out of the money" at 0.30 cents
The stock price is lower than that. If the warrant holder really wanted shares then they could buy them cheaper on the stock market.
It seems that "eight" was incorrect, it's now replaced with "six" in the PR on their website.
Six was the number all along in their previous PR's concerning possible drilling locations.
On another note, all existing warrants that the company had outstanding are now almost all expired without being exercised. That means around 8 million warrants gone.
Awaiting financing news...
Singapore / ACCESSWIRE / November 21, 2014 / Terra Nova Energy Ltd. (the "Company" or "Terra Nova") (TSX-V: TGC; OTCQX: TNVMF) is pleased to announce that it has completed the interpretation of the reprocessed Wingman 3D seismic survey from which eight prospective geological features have been recognized that appear suitable for drilling exploratory wells. The Wingman 3D covers 84 sq km within the Petroleum Exploration License ("PEL") 444 block located on the western flank of the Cooper/Eromanga Basins in the State of South Australia, Australia. The geological prospects were recognized using advanced geophysical techniques and are interpreted to have analogous characteristics to those of the adjacent producing Charo field. Terra Nova is in the process of acquiring the required approvals and operational permits in support of an upcoming drilling campaign.
"We are pleased that we have identified eight drilling locations following the ranking and risking of multiple targets in the Birkhead, Namur and Hutton areas" said Terra Nova Energy CEO and Chairman Henry Aldorf. "We are fortunate to own acreage in the Cooper/Eromanga Basins, where oil production costs have been low compared to other parts of the world, offering a significant advantage at today's oil prices. We are looking forward to the upcoming drilling campaign."
Terra Nova has also commenced the reprocessing of PEL 112's Mulka 3D seismic survey by employing similar techniques that were used in the seismic reprocessing of PEL 444.
Terra Nova will release further updates in due course.
Reading your posts it seems you like pain and misery so I'm inclined to think you lean to the sadistic side.
We can all keep on speculating but it's just that...speculating.
Awaiting patiently for official news from TGC/HENC...
You seem to be on the other extreme end by being highly pessimistic while some others on this board are highly optimistic.
If you believe there is nothing down there then why are you still here ?
If you don't trust yourself in this investment then go buy some shares in Apple, you'll sleep better.
I'll be patient and wait for PR's from TGC. A delay isn't the end of the world, most of us are waiting for years already.
A PR on the latest developments/delay would be nice. Everyone is waiting for news...
NYSE-MKT (formerly AMEX) has a minimun list price of 3$, Nasdaq is 4$
The easiest uplisting route is NYSE-MKT but the company actually belongs more on Nasdaq. I don't see uplisting happening soon, contracts and revenue need to come first. Companies on bigger exchanges with no revenue are at the mercy of shorts...
HENC 10Q is out, looks like drilling is delayed untill 1st q 2015:
"Based on the reprocessed data completed September 2014, the targeted drilling locations have been mapped at various stratigraphic levels such as Birkhead, Namur and Hutton. These will be assessed in conjuction with the analogies from the adjacent Charo Field. Terra Nova has signed a letter of intent in October 2014 with Hunt Energy and Mineral Pty. with regard to a drilling service agreement. As a result, we expect to initiate the drilling program on PEL 444 during the first quarter of 2015."
10Q is out, looks like drilling is delayed untill 1st q 2015:
"Based on the reprocessed data completed September 2014, the targeted drilling locations have been mapped at various stratigraphic levels such as Birkhead, Namur and Hutton. These will be assessed in conjuction with the analogies from the adjacent Charo Field. Terra Nova has signed a letter of intent in October 2014 with Hunt Energy and Mineral Pty. with regard to a drilling service agreement. As a result, we expect to initiate the drilling program on PEL 444 during the first quarter of 2015."
I would like to know what your angle is and why you are posting inaccurate and misleading information.
You claim that you've been told (by someone at TGC) that they just keep drilling to keep their % on the properties.
Why spend more money (the drilling) on a property that has no valuable resources so that you end up with more % in a worthless property (according to your thinking). Do you think they are all that dumb at TGC (or HENC since it impacts them as well), they have one billionaire (Civelli) on their BOD. Do you think he got that rich by increasing his stake in worthless properties ?
Even if they concluded that the property is worthless I highly doubt they will tell that to someone who called them on the phone for a chat. This is a company on a stock exchange and such information can only be made publicly available to all shareholders, via PR or other way of communication since it also impacts their business plan.
All communication from TGC lately signals quite the opposite from what you claim.
Disregard the pumping or bashing, both do no favour to the stock and only discredit it, including those who invest in it.
That is a very interesting article, agree it's worth a sticky.
Lot's of goodies to be found in it, the pressure keeps mounting so it looks like contracts can't be far away now...
Couldn't find more information on Perseville Investing Inc (the company who bought out Chelsea). Since Chelsea didn't disclose financial details or even the company's name I'm thinking that Perseville perhaps is already negotiating with Sakhai to buy him out as well. Financial details on the Chelsea deal could benefit Sakhai in his negotiating position.
Maybe we'll hear more the coming days/week on a Sakhai buyout.
My guess it's one of the Civelli's that's behind Perseville Investing but I would like to have facts/validation.
If it's owned by one of the company insiders then that's a very bullish sign = oil and money to be made !
That is a nice catch. So it seems perseville investing inc bought out chelsea. It would be nice to know who is behind perseville. A quick google search gave me nothing.
I also noticed that kpmg is the auditor of terra nova, don't know if that is new as well.
Not necessarily, there are always reasons for selling that are not related to the stock: out of cash, unexpected expenses, illness/hospital, taxes, moving to another stock, no patience
etc....It's no use wondering about the "why" since there will always be sellers. The point is that there will be less sellers when things get moving...
Thanks for the comments (I'm no fan of all the pumping/BS posts also as I'm sure most people want more rationality here).
The odds of finding oil are in our favour since the surrounding PEL's all have oil fields. If oil is found then the potential for this stock is huge since only for a small portion of the total acreage a seismic has been done and there remains a lot of room for further exploration and more oil...they could keep themselves busy for a lot of years on the current properties. We as early investors should do well then.
It now all comes down to execution, TGC/HENC have lacked in that regard the last year, they've wasted a lot of time (to the annoyance of all of us). With the last PR's and news flow that keeps coming I'm hopefull that we're now on track again. When financing is done then we're (finally!) ready to drill again.
Never believe the amount of shares supposedly owned or bought by people on message boards. Usually you can end up with more than all issued shares
DD eventually comes down to the individual themselves, each person is responsible for his own actions. I have a (for me) big amount invested in this because I believe there is oil down there. But unless a well is drilled and that fact is proven then there is still a big risk in this stock. The next few weeks will be interesting.
(And forget about all those posts about "beware" or "scam", they bring nothing material or even relevant information to this board).
Other operators have figures between 20$ and 30$ per barrel cost (figures can be found in public docs via google). No guarantuee if HENC/TGC cost is as high. TGC/HENC is a smaller outfit and won't have that much company overhead so the cost will probably be on the lower end.
Even if oil prices drop to 70$ (as some claim to be the future low point) then there is still great profit potential. I believe oil from the cooper basin also get's an extra premium per barrel.
financing news and drilling dates next please
This is probably timed to try another SP runup...
http://finance.yahoo.com/news/terra-nova-signs-letter-intent-120000113.html
Singapore / ACCESSWIRE / October 17, 2014 / Terra Nova Energy Ltd. (the "Company" or "Terra Nova") (TSX-V: TGC OTCQX: TNVMF) is pleased to announce that it has signed a letter of intent with Hunt Energy and Mineral Pty. Ltd. ("Hunt Energy") with regard to a drilling service agreement whereby Hunt Energy will provide drilling services for up to 6 wells in Terra Nova's Petroleum Exploration License ("PEL") 444 Block located on the western flank of the Cooper/Eromanga Basin in the State of South Australia, Australia.
"The recent amplitude-friendly reprocessing of the Wingman 3D is of excellent quality and multiple targets have been mapped so far at various stratigraphic levels such as Birkhead, Namur and Hutton." said Terra Nova Energy CEO and Chairman Henry Aldorf. "Currently we are ranking and risking these prospects by using the analogies from the adjacent Charo field. Coupled with the recent oil discovery in the nearby PEL 104 block we are very excited and looking forward to the upcoming drill campaign in PEL 444."
I've already done so, my average is now just below .20
Sideways consolidation going on here, it's ready to run on news.
Is this all you have to say on each post: beware this...red flag there...you sound like a broken record.
The market correction seems to have come at a bad time for TGC, yes when the price needed to go up to get the financing done. I hope we sail into calmer waters soon...
I don't find any information about a proven gas concession that they might own (although there is gas as well in the cooper basin).
Do you know more ? The intro in their corporate presentation indicates that they focus on assets in Australia/Asia:
"Focused on the development of onshore oil
and gas assets, in Australia’s Cooper/
Eromanga Basin and other areas in
Southeast Asia"
GAS ? you mean oil
good volume today in toronto, a slow and steady climb is better then huge price swings...
volume is sadly back to "normal", not like anything we've seen the last week
perhaps royal bank of canada ?
Looks like another red day on the marktes today: futures down 2%
It will be hard to drive the SP further higher for an offering if everything else is crashing hard...
Looks like it will be another bloodbath on the markets today, futures down 2%
QTMM has done very well this week compared to others...
This would indeed be highly welcome for telecom/IT, bandwith issues are still the order of the day in WAN communications or internet.
It was a very red day on the markets yesterday, it's already a small wonder that it made a very nice leg up this week
I think I saw a price of 2 million per well a while back, can't remember if it was a PR or other document.
So I'm guessing raising 12 million would be enough so as to have a margin in case of rising/unexpected costs.
anxiously waiting for the financing part from TGC...
o my, what a day, at .21 now, a new one year high