Bought into IVE this morning, purely on speculation only... small time though. Don't know much about them though ! in for a penny in for a pound and all that.
Got out of TPG (dead loss and falling away fast)

everything pointing positive

Yesterdays report looks full of promise and potential with a good portfolio of opportunities. Although there will always be risks the potential rewards with IVE are high and therefore added late today.

andysmith
Hi andy back on the same share IVE must be good.

I hope so, if this does as well as HAWK has for me I'll be pleased.
I like the fact that they are fast-tracking to actual production and with several projects on-going. IVE will be cash generative and has low forward PE of <4.
As with all small companies there are risks attached but on IVE the rewards seem potentially very high.

andy/driver

Do you prefer IVE to say RIFT, both doing well.
I am looking for profit takers to nudge SP down a bit so I can buy some more.
Both have potential to multibag just trying to decide if worth hedging on one more than the other. [common sense says hold both but my investments small so costs come into play. Am after opinions only will DMOR as normal]
long may the upward trend continue
Alex
I hold IVE,RIFT,SER, as well as BRR,ERX&THRW[if only these would follow IVE/RIFT trend]

Alex
IVE have got the goods and are expanding rapidly as with SER I.M.O SER could possibly be rerated when the flow rates and steaming are revealed I would top up IVE or SER if I had the dosh.

new IVE article, Click HERE

i am keeing my holding of ive & adding at opportune dips! if all conitnues 'well' you dont need me to tell you the rewards - i also have hawk if it ends up like that or better to say i will be pleased is an understatement! i do not have ser yet but will take a closer look - so thanks for that - tpg will keep the warning ion mind - cheers

http://www.investegate.co.uk/Article.aspx?id=200805161000016266U
cyril

more addlistings

IVE taking a breather before the momentum continues a good time to add.

I'll have to look down the back of the sofa---I agree with you driver. Oh how I wish I hadn't sold sola!!

mp
Did you get on board SER

very annoyed I didn't as I had to go out---and husbands don't like to wait around!! I think maybe more ive is the way to go next week. Do you have any BRR? there's a good article on the thread--I may get back into those before the july report as a good long term bet.

typical trend before shooting up

Recovered from a drop this morning, looking good.

Just topped up with a few more.....unfortunately, could not get to a phone/online earlier when the offer was lower.... but hopefully it will not make that much difference in the long run!

Wats hot have just put out a very positive tip for IVE---expect a nice rise next week. tIps.com or watshot.co.uk. details on the other side.

mp
Cheers

Buy Irvine Energy (IVE) at 3.75p

Says small cap website WatsHot.com

Irivine Energy is a hydrocarbon play that provides investors with the best of both worlds - namely near-term, low-cost development and production; and blue-sky non-conventional development potential. The company focusses on shallow drilling in Kansas and Oklahoma in the US, identifying bypassed reserves in areas of known hydrocarbons. These wells are multi-target wells, meaning the risk of dry holes is minimal. Once in production, the company will utilise its cash flow to focus on deeper non-conventional resources which are becoming a hot property in the US - as shown by companies such as Nighthawk Energy* (HAWK).

The vast potential of Irvine's project is illustrated by the relative coverage of the states by 3D seismic. Whilst coverage is around 60-70% in the productive basins of Texas, it only reaches 2% in Kansas, leaving huge potential for discovering missed opportunities. Projects in the regions where Irvine operates are low cost as the local infrastructure is already proximal and extensive. Irvine's acreage - totalling 166,500 acres gross - has deeper potential for non-conventional shale gas and coal bed methane gas, which is currently being successfully targeted in the region by larger independents. The company appears well placed to exploit its position as the management has extensive technical and drilling experience in shale gas plays, and Irvine has teamed up with Metro Energy, a company with extensive land management and operational capability as well as experience in sha le gas having worked with Devon Energy in Oklahoma.

Both reserves and production are expected to increase rapidly in 2008. The company aims to triple its 2P reserves to 32 billion cubic feet equivalent and increase production to 450 barrels of oil per day and 6 million cubic feet of gas per day within 2 years. The company is also well financed with a $50 million dollar finance facility available to draw on for development costs until the reserve base can sustain more senior debt. To give an idea of the potential of Irvine's projects, the conversion of its 238 BCF of contingent resources to 2P reserves would suggest a valuation of 40p per share at a gas price of $2.40 per thousand cubic feet. This is a serious blue-sky play!

Kansas
The company recently brought ten wells online at its Niobrara oil and gas project in Kansas, with a further six wells expected to be producing by the end of May. The project, in which Irvine acquired a 50% working interest in September 2007, comprises 4,490 acres of oil and gas licences in north-west Kansas. An initial 20 wells were selected for development, while the development of a further 40 undrilled well locations at Niobrara will commence following the stabilisation of production from the initial 20 wells. Keep your eyes peeled for more news on this front over the next few weeks.

In South Kansas, the company has an AMI (area of mutual interest) agreement with Metro covering over 7 million acres covering the Chattanooga Shale unconventional gas resource. Irvine aims to initially exploit the conventional oil and gas reservoirs, thereby reducing overall project risk and generating early cash flow, while testing the gas potential of the Chattanooga Shale. The company has first mover advantage in this area which is believed to have significant gas potential. Although the carbon content of the Chattanooga Shale is lower than in other areas giving a lower resource in place per acre, the shallower depth makes the extraction economics much more attractive.

*The value of investments can go down as well as up. Investing in equities can lose you part or all of your capital. Smaller company shares can be relatively illiquid and thus hard to trade. And that makes such investments more of a high risk than larger company shares. UK-Analyst.com is owned by t1ps.com Ltd which is authorised and regulated by the FSA and can be contacted at 5-11 Worship Street, London EC2A 2BH or on 020 7562 3370.

Oklahoma
Irvine recently purchased a 50% participation in a 50,000 acre licence in Oklahoma from partner and shareholder Metro for a consideration of $12 million. Devon Energy and Metro shot a 3D seismic survey and began a six well drilling program in 2005 to identify conventional oil and gas reservoirs and acquire and appraise scientific data on the Caney and Woodford Shales. Although the data generated indicated that the area has the potential to develop commercial gas, the block size was of the size heavyweight Devon Energy (market cap $44 billion) was looking for. Devon subsequently sold its interests in Oklahoma back to Metro which provided Irvine with the opportunity to buy in. The potential for the Oklahoma project is pretty huge, with shales found across the entire acreage position from 2800-4000 feet. The licence also includes a coal bed methane resource at Hartshorne whic h, although only 5ft thick, is a prolific producer with none of the de-watering problems experienced in other countries.

Valuation
Irvine Energy looks well placed to augment value for shareholders over the near term as it is well financed, already producing and has an aggressive drilling program. A recent independent reserve report took the group's contingent resource base from 159 BCF to 238 BCF and identified 1P-3P reserves of 10.25 BCF - for which broker Evolution attaches a core value of 2p per share. However, this only covers those parts of Irvine's acreage covered by 3D seismic (less than 2% in Kansas, excluding Niobrara, and only 25% of acreage in Oklahoma) so the scope for upgrading this is huge. Assuming the finance facility is fully drawn down (there is no reason to believe it will be) and risking the group's current contingent resource at 25% gives us an initial target price of 8p per share. However, in the long-run I would hope for much more than that. Speculative Bu y.

Key Data

EPIC: IVE
Market: AIM
Spread: 3.7p - 3.8p (27%)