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)

and from uk analysist...

"US-focussed oil and gas exploration company Irvine Energy (IVE) reported that good progress is being made across its three project area in Oklahoma, Kansas and Niobara. In Oklahoma the company has completed its first vertical Woodford shale well, Farrow 1-24, as well as its first horizontal Woodford shale well, Jones 1-5H. Irvine commented that initial drilling went well and assuming further success full scale production and gas sales are expected to commence in the latter part of the third quarter of this year. In Kansas, the company expects wells Rock 1-5 and Rock 1-32 to be in production and selling oil in August - possibly earlier in the case of Rock 1-5. Further wells are being planned for the second half of this year. Finally, production at Niobara was interrupted in May and June due to technical issues with a gas compressor. Production has been intermittent since a new compressor was installed but is expected to stabilise and increase by the end of August. The company added that daily production is set to increase significantly in the second half of the year as the number of producing wells increases across all of its project areas. Irvine's Managing Director, Aaron Close, commented, "We are very excited about our progress on Jones 1-5H and Farrow 1-24. These wells are part of our strategy to develop the shale gas and quickly grow the Company's reserves". Evolution Securities increased its price target for the company to 11p on the back of the news. However, the shares slipped 0.08p to 3.18p.

and from The Times.


Tiddler to watch

Irvine Energy, which is exploring for oil and gas in Kansas and Oklahoma, was off 0.075p at 3.175p after a drilling update. Production at one site was interrupted by technical problems, but two other wells in Kansas are due to begin selling oil in August, the first oil reserves in the state. Housebroker Evolution has an 11p target.

fat greek most of that is all old news "". Evolution Securities increased its price target for the company to 11p on the back of the news. However, the shares slipped 0.08p to 3.18p".
s/price now?

Been loading up here today. Betting this is the bottom.

bottom of my target hit at 11.30 today 2.20 i think there will be another test at this level.

More buys than sells today, trades at 2.25 reported as sells are buys, I know.
A 500,000 and 375,000 showing as sells actually buys reported late.
Great time to add on this stock.

Andy, yep... absolutely agree 'add on to this stock'. You would not have so many people both here and elsewhere knocking this share if they weren't afraid that it was going to rise. They need to close their short CFD's and all this negative ambient babble is for that reason. Scare the shareholders. Same as usual.

now we know the reason for the s/price weakness shareholders suffer with massive dilution,did not even get the chance to take part in the placing.
RNS Number : 7563Z
Irvine Energy PLC
24 July 2008



Irvine Energy plc / Index: AIM / Epic: IVE / Sector: Exploration & Production




24 July 2008




Irvine Energy plc ('Irvine' or 'the Company')

Equity Placing




Irvine Energy plc, the AIM listed oil and gas exploration and production company, has received share placing commitments to raise 1,100,000 (before expenses) ('the Placing') through the issue of 55,000,000 new ordinary shares at 2.0p per share ('Placing Shares'). The funds raised from the Placing will principally be applied to 3D seismic, which is not funded under the GasRock debt facility.




The Placing Shares will represent 6.9 per cent of the Company's enlarged issued share capital following the Placing, and will, when issued, rank pari passu in all respects with the existing issued ordinary shares. Application will be made to the London Stock Exchange for the Placing Shares to be admitted to trading on AIM and it is expected that admission will become effective and that trading in the Placing Shares will commence on 30 July 2008.




The total number of ordinary shares in issue following the placing will be 793,674,826.




* * ENDS * *

when should we expect news on Ayres?

"We look forward to reporting on the highly prospective Ayres project with its multiple stacked pays potential."

One of the 'multiple stacks' must have oil, if all 'stacks' have oil happy days.

no follow through from yesterdays rise, s/price still showing weakness at the moment.

The more I look into it, I can see IVE are highly likely to recieve a bid approach...

A relatively new theme, also noted by Simpson, is the entrance of oil majors into North American resource plays. Royal Dutch Shell (NYSE: RDS-A) (NYSE: RDS-B) is cashing in on a Canadian gas play, while BP (NYSE: BP) recently followed in the independents' footsteps by snapping up Chesapeake Energy's (NYSE: CHK) Woodford Shale acreage.


http://www.fool.com/investing/general/2008/07/23/no-going-slow-at-xto.aspx

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The management of the group believes that before too long, they will be offered a deal from one of the oil market big beasts. Given that Irvine is already in production, and that it does have some very good sites, if the stock stays as low as it is, they will probably be right.

http://www.independent.co.uk/news/business/sharewatch/small-talk-modern-water-aims-to-clean-up-by-osmosis-872919.html

Approach at what price???

s/price still looking weak testing the 2.20 level again today it needs positive news soon if it is to stay above this level.

WOODIE
No news gone blue.

is it another 1 day rise. the last rise got sold into, hence cant get above 2.50 at the moment

driver
no news gone red

no news from management! a lot of publicity! maybe something big is cooking!!!

nice bounce this morning

Are you doing the Olympics woodie?

if only i was fit enough.