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)

Woodie... thank you for the post of the I.C. article. It looks good and although there may be a few disappointments along the way, we should see the sp at a much higher level than where we're at today. (imho).. onwards and upwards !

skyhigh no probs

shame the market did not take to the article straight away,starting to move up now.

Moving quickly now Woodie :-)

just been having a look at a few other O & G companies in the AIM market with around the same or more shares in issue than us and they have fewer prospects and potential and they are near enough at least double our SP / market cap. If we can get some production figures to the market, coupled with our potential I can see us doubling very quick from here. This may sound like a ramp but looking at the other co's AMER & PCI just to name a couple. 2.7p is masasively undervalued and I would say I can see 5.5p+ very soon. All imo etc dyor but look at other co's like I mention and then couple it with the potential we have and it will be pretty simple to see we have massive upside.

Just a reminder, we are currently 2.7p AND.......

"Broker Evolution Securities puts it another way. It has estimated that the current 2P and 3P reserves in Kansas and Oklahoma projects are valued at almost the current share price ( around 3.7p) based on long term assumptions of US$100 a barrel for oil and US$10 a thousand cubic feet for gas.

The Broker continues: Vertical and horizontal wells are currently being evaluated in the Woodford Shale. Success here would start a movement from the substantial contingent resource base to reserves. We estimate that even risked at 1 in 5, the current shale gas resource could be worth 12P/share if moved to reserves. In addition we do not ascribe value to the CBM prospects in Oklahoma, but this could change in 2H08 when drilling starts".

fefatgreek
"few other O & G companies" apart from SER

GOOD START TODAY :)

driver,

You mean SER - producing 200bopd+ NET, with CBM acreage too, market cap currently just 6m?

martinl
You got it in one.

Looks like rollover day.

ser- its holding, but dont see any buyers yet!
ive- big up moves,august, we should expect some news soon. good one i hope!

A COUPLE OF EXAMPLES TO REFRESH THE MEMORY

MKT CAP SHARES IN ISSUE SP
AMER 42.34 806.43 5.25P
PCI 60.43 736.92 8.20P

STATUS: NON PRODUCING

MKT CAP SHARES IN ISSUE SP
IVE 21.24 738.67 2.875P

STATUS PRODUCING: FULLY FINANCED ON DRILLING, HUGE AREAS OF POTENTIAL WITH RAPID DRILLING PROGRAMMES IN AYRES, SHALE OIL, KANSAS, OKLAHOMA, NIOBRARA. PRODUCING AND USING 3D TO DECIDE WHERE TO DRILL. EVO TARGET 11P. GOOD INVESTORS CHRONICLE WRITE UP. BP BUY NEXT DOOR. AND "The management of the group believes that before too long, they will be offered a deal from one of the oil market big beasts".

Should we really be 2.875p?

we are using 3D siesmic to drill our multiple stack prospect in Ayres and I am quite impressed with it.

See this snippet I found on the internet...

'In order to record data with sufficient density over large areas, we require a large number of recording channels. The operations of 3D are considerably more elaborate than 2D and the daily cost of crew is substantially increased. However, the rewards include fewer dry holes, more optimized well locations, guidance for horizontal drilling projects, more complete evaluation of mineral rights and better understanding of the nature of prospects'.

'Although 3D does not remove all exploration risk, it generally improves success rates and productive wells will more often be on optimal locations and should deliver better production and exhibit slightly longer life. One client who recently recorded a 3D over a well developed pool stated that six to ten of the dry holes associated with pool development would obviously not have been drilled if the 3D data was available prior to drilling. The costs of a 3D program may seem high, but the above figures indicate that exploration and development efficiency can be considerably enhanced by knowledgeable application of the 3D method'.

-----

This is what IVE are using on Ayres.


http://www.anwr.org/techno/3dseismi.html

Accumulate!!

why ?

" Oklahomas diversity of highly propesctive opportunities provides Irvines greatest potential. In September expect updates from a horizontal shale well and later in 2008 from drilling of the coal-bed methane potential.

Current sp only values Irvine at current known existing reserves.

Success in ANY of the conventional, shale gas OR coal-bed methane developments is likely to boost the companys valuation materially"

I have been adding on several occasions as I expect >4-5p before the end of the year and upwards towards 10p in 2009 as Irvine are able to increase their reserves.
Add to that the big players sniffing around this area and there is upside potential either way, successful drilling and/or buy out.

Coppyed from a advfn poster.

First Oil sales mentioned from IVE (via an excellent report from a poster who attended the AGM)

http://boards.fool.co.uk/Message.asp?mid=11162352

"At the AGM, the board said:
* Kansas is currently producing between 120-150 bopd net sales."

well, that is encouraging news.

It can't be long before a bid comes....

From todays BBC.....

BP is to pay $1.9bn (1.1bn) for part of Chesapeake Energy's shale assets in Arkansas, in a bid to secure sources of energy as gas prices rise.

Chesapeake is to sell 25% of its shale assets in Fayetteville to the firm.

In order to access gas or oil that is locked in shale, complex and expensive technology is required for drilling.

The latest deal comes after the British energy giant bought all of Chesapeake's Arkoma Basin Woodford shale assets in Oklahoma for $1.7bn in July.

Following the latest deal, Chesapeake said it was pursuing similar transactions with its Marcellus shale assets, and hoped to complete a deal by the end of 2008.

http://news.bbc.co.uk/1/hi/business/7595550.stm

then.....

Some of the acreage held by Irvine has been drilled on and off for about 90 years, and has about six years of production left in it, not that Mr Close or his team expects to be there when they run dry. 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


and....

If you look at where the Arkoma Basin lies on the Irvine map, we are on the fringe of that field next door with Chattanooga.

So the second BP purchase is underway, I am sure BP isn't the only company looking to snap up these assets, Shell, Exon etc I am sure will be looking at these areas also as they will want to join in and take advantage of this new 'hot sector' and it will be a matter of time before it happens imo. Some of the above is old news but putting it all together with the thoughts from Irvine and the current activity happening in the field next door. We could be the next one to be snapped up.

http://www.irvineenergy.com/shale_gas/index.htm (for the map, see the bottom of the page)