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Looks like HENC is benefiting by just standing on the sideline. That is, if they are still holding TGC shares.... Pre-reverse split, I believe they held 1 million TGC.
turns out that the map that we have above the comments on the home page is old...throw it out!
112 is no longer near 93
https://sarigbasis.pir.sa.gov.au/WebtopEw/ws/plans/sarig1/image/DDD/204224-028
from the pdf:
Oil appraisal and development
The first two wells of the campaign are located on the producing Worrior and Spitfire fields. Worrior-11
(ex PEL 93: Senex 70% and operator, Cooper Energy 30%) is a development well targeting oil
accumulations in the lower Birkhead and Hutton horizons. The well is due to be spudded in mid-December.
BTW, PEL 93 is right next to our PEL 112. Mid-December is coming up....maybe an oil strike next door could give all of us a swift kick in the butt to get things going?
I guess we'll just stand on the sideline for 2-3 years and watch SENEX put together a drilling program for 2017......hey, weren't they the ones we shared data with?
http://www.senexenergy.com.au/wp-content/uploads/2016/12/Senex-begins-FY17-Cooper-Basin-drilling-campaign.pdf
I believe that I mentioned this in previous posts....
It's all up to TGC to move things forward and force HENC to tag along.
If TGC makes some $$$ in Romania, then we should (could) see something happen in the Cooper before the next drilling deadline in 2019.
Tax selling has begun...
actually, began a few days ago.
The fun never ends.
hey Gump, I don't think TGC (or clean energy, or whatever their name is..) will sit on the sidelines. They're looking to cash-in in Europe, maybe make a quick buck over there, and then revisit the Cooper. That's my take.
If and when they do come back to the Cooper to start drilling, that's the only point at which HENC will have its hand forced. I place the odds of HENC finding another partner at well below 25% - probably well below 10%. One dry hole you can shake off....two dry holes and investors start to become scarce. Throw in an oil market that is throttled by OPEC's ineptness and the ever-looming USA fracking biz to keep prices in check, and you have one of the most challenging eras in oil.
not much, except that TGC is building momentum to do something and not wait -out the market price of oil.
I'm guessing they are going to move a lot sooner in bulgaria.
funny how they called it a "share consolidation"...somehow it hurts less than hearing "reverse split".
wait till the end of the day....someone might bump it back up with only 100 share buy.
company valuation: does it really matter what the price is? we either rejoice when they strike oil, or go down with the ship if it's a duster.
There's no in-between.
so, wherever they take the price, you can sulk and hold, or roll the dice and keep buying.
the company is a one-trick-pony and just about the riskiest thing out out there. obviously I'm not perfuming the pig.
that's about it for my animal analogies.
I checked the agenda, nothing out of the ordinary....employee stuff, auditor approval, options, and some resolution to create a "control person"
oil might be at a double-top right now...let's see if it breaks through.
TNVMF --- 460k shares traded...something's going on; maybe has to do with 10/28 annual meeting at TGC
also interesting is that China and a bunch of others are selling treasuries, including the saudis. might weaken the dollar, causing oil to go up, maybe?
Seeing a little activity....
Is it because of the annual meeting coming on Oct 28th?
there's no bottom until some kind of game-changing news comes out. (95-99% certainty that we will not see anything of the sort)
we're on a steady path to nowhere because HENC is in hibernation mode until the 11th hour of drilling (2019).
at least TGC keeps things interesting with an announcement here and there.
that's how I read the tea leaves.
i think they needed to consolidate ownership in order to have more flexibility when it comes to deals, corp issues, etc.
that aside, they are being PROACTIVE....maybe HENC could take a page from the TGC book
TGC halted for pending news....
TGC halted for pending news.......
a bit disconcerting....but on the flip-side, one can argue that today's price will bear no relationship to the price at the time when/if we strike oil.....
in other words, say the current price is $.50/sh and we strike 3000bbl a day oil. the price will rise according to the flow rate of oil and its estimated reserves, etc.....
so, with today's price of $.02 (or whatever low price you wish to use), and we get the same 3000bbl results, the price will still rise according to the fundamentals of the oil strike and likely reach the same price as the $.50 shares
however.....here's where things get dicey....HENC is a complete unknown, so when they strike oil, the explosiveness of the stock price could very well be the difference between a firecracker and a stick of dynamite.
So.............all in all, i'd rather strike oil when our shares are at $.50, than at $.02
Which brings us to stock promotion.....to be discussed at a later date.
jmo
need someone with greater knowledge to chime in on that....TChauncy? anyone else?
if we are beholden to TGC (operator), then it makes sense that they are moving ahead with their romanian investment, since they can't be blindsided by HEnc.
again, need someone who knows for sure what's what.
it would make things interesting if Henc decides to move forward now, and force TGC's hand in the Cooper. TGC is locking up it's assets in romania, so a move by henc could send shock waves over at TGC. Can TGC handle drilling programs on two fronts at the same time?
TGC is probably looking at it thinking they have until the 2nd half of 2018 to get their finances in order with respect to the Cooper. Before then, maybe they'll have struck oil or gas in romania and cashed-in.
there are a lot of people here with the opposite opinion. HENC has always dragged their feet, and from the looks of things will do so again. That's why they went into hibernation mode by delisting.
no spudding until 2019 - that, apparently, will be their motto.
personally, I'm sick of this crap. whether you drill in 6 months or wait until 2019, the bottom line is the one-single-act you are doing is DRILLING. You must drill by 2019 - WHY WAIT? Do they have a crystal ball that clears away all the uncertainty in 2019? Do they know that it will be a better climate for drilling?
Getting a jump on drilling now, I argue, can put you in a better position when supply shrinks and prices go up. If, by some chance, we drill and strike oil now, what happens? WE CREATED LEVERAGE!!! They can then put a drilling program together and move forward a heck of a lot sooner because they CREATED HENC CURRENCY.
vision and risk is needed....we lack both.
i don't think this is window dressing; should see some action from TGC sooner, rather than later.
kudos to TGC for keeping things relevant.
Well, if he is able to get the SP higher, then he and the shareholders obviously benefit.
I'm not for or against TGC's success, although HENC, I believe, owns a million shares of TGC....so it would be beneficial to us.
What I am for is receiving timely info (thank you for the update), and hopefully a trigger point that gets HENC moving forward on some sort of drilling program. $65bbl is a ways off, and so is the next mandatory drill date (2019) - which means we'll be sitting in limbo for quite a while.
http://finance.yahoo.com/news/terra-nova-energy-enters-farmout-132500089.html
So.....
Does TGC abandon their interest in Cooper?
Does HENC put pressure on TGC by getting a drilling program set up sooner rather than later?
Does TGC parlay a hit in Romania and get things cooking in the Cooper?
Does anyone care?
Looks like TGC will drill in Romania before TGC/HENC drills in Cooper.
Trident, you out there?
there's a "yeah but" here....and that's if the offshore finds are big enough then it changes everything.
meanwhile, closer to home...we'll have to endure a couple of years of sitting on our thumbs until the drilling deadline comes up again.
Sure as heck not counting on the Cooper Basin....
http://www.upi.com/Australia-counting-on-offshore-oil-gas-for-economy/8781470917878/?spt=slh&or=10
yes, we're stuck until 2019. Unless TGC decides to do something about it.
Odd that 400K+ TGC share volume yesterday. looks like they went for .02
the $ value was nothing, but just the fact that that amount of shares were let go....were they really worth trading? that's $8000. maybe it's going waaay sub-penny? what if it goes to .005? If shares are available at that price, the $8K could get 4X the number of shares back.
All speculative BS on my part....
I've said it before...no urgency on the part of HENC, they put the stock in hibernation mode to cut costs. clear indicator.
need TGC to act and force HENC's hand.
not sure if it's so much about pumping, but poor choices and bad luck.
after all, they drilled twice and came up empty....at least they drilled.
their silence is the most unsettling part.
Ahhhhh......excuse me for yawning. Just give me a second to scrape the crud off my eyes....ok.
I wonder how the data exchange is going and if all interested parties are burning the midnight oil (no pun intended) and poring over the volumes of data and coming up with the "new and improved" master plan? Can't wait to hear the results.
spin, or no spin, we have a 2.5 year deadline. lots of time for us to sit and twiddle our thumbs...unless HENC or TGC decide to act.
Hey Hamil -
Here's what I wrote on #9489 :
need a major event to change the dynamic, otherwise, price will stay in a narrow band.
BTW, with regard to 2017, I wrote this in a post back in May after the 10K or Q was out:
<<Yes, and sadly, this tells it all (unless someone has something to the contrary):
Drilling requirements:
PEL 112: Drill one well - January 10, 2019
PEL 444: Drill one well - January 11, 2021
I'd like to qualify the above by saying: "Un-Freakin' Believeable"
Anyone who puts a positive spin on this is delusional.
GLTA>>
ha! there goes my theory.
keep bumping it every day !
yeah, and then you see some big bids at .04 and they bump it back up to .06 when they see other bids (like mine) coming in. this game will be repeated over and over......
I think you said it all.
But, as far as anyone having interest in this stock, I think the lack thereof was proven in our most recent run-up into the spud event. pathetic is a word that seems very apropos. Probably due to genstock not pumping it the way he did in the prior spud event.
Just check the charts
Just a random oil thought....
If people have not awakened to the reality of range-bound oil, please tap them on their heads. It's here to stay (barring any major calamity/catastrophe like war or a 100 mile meteor striking the earth....)
Once everyone accepts range-bound oil, guess what, cost of extraction will have to fall in line. Adapt or die. If you want to operate within the oil exploration and extraction biz, you must fall in line and price your services accordingly. If not, someone will step in and take your place because they figured out how to do it cheaper, or because the contribution margins are acceptable. IT WILL NOT BE BUSINESS AS USUAL.
All other industries evolve and adapt to pricing pressures, oil will be no different.
There's a message here somewhere.....uhh, drill already, because that's what you HAVE to do.
is sharing intel a common thing among neighbors? is that a sign of strength or weakness?
are there neighbors to the south who struck oil?
is it possible that the oil fairway pushed water into our Pel?
I could probably come up with a gazillion other questions.
let me add this....
not privvy to HENC's motives or plans, their hibernation effort to save money is commendable on the one hand, but damning on the other.
Need to save money in order to have it when you want to drill. But drilling is our "one-trick-pony" so you need to drill in order to make money. Catch-22. Curious what our anticipated costs of extraction are?
Are we doomed to repeat this "Drill One Well" requirement over and over?
Maybe, if you step back and look at it from a distance, TGC's involvement could be seen as a catalyst to hasten things. Otherwise, the snooze button is all-too-handy for HENC to hit.
Just some random-ish thoughts...thanks