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 tonight .......

British Bulls Rec
IVE

Irvine Energy PLC
Daily Commentary
Our system posted a BUY CONFIRMED today.

It's all looking good for lift off skyhigh!

LONDON (Thomson Financial) - Irvine Energy Plc. said it started production at the Niobrara oil and gas project in Kansas, United States, on Monday.

The AIM-listed oil and gas exploration company said ten wells are now pumping with a total of 16 wells expected to be producing by early May. All wells are producing at or above expected rates, the company said.

Irvine said development of a further 40 undrilled well locations at Niobrara will start following the stabilisation of production from the initial 20 wells.

Irvine holds a 50 percent working interest in the Niobrara project.

Last 8 million share purchases have produced a fall in sp, how odd, currently 12 million shares traded approx.

On board as of today.

29 April 2008

Irvine Energy - Buy - Reserves and resource update. Independent assessment confirms potential. (Keith Morris)

IRVINE ENERGY (IVE.L) - BUY - PRICE/TARGET : 3p/8p

RESERVES AND RESOURCE UPDATE AND PRODUCTION COMMENCES

Reserves report, start of production and exploration drilling point to major progress

EVO TAKE - Irvine has achieved a number of key milestones in short order - namely an independent reserves report (Netherland & Sewell - NSAI), the start of first production and gas sales from the Niobrara project. The modest 1P-3P reserve numbers of 10.25bcfe cover only a very small part of the company's portfolio, and should increase with further 3D programmes and as the drilling programme gets under way. The contingent resource base (2C) is increased 49% to 238bcf - with resource for the Caney Shale in line with company internal estimates, whilst the Woodford Shale is attributed resource (82bcf) for the first time.

DETAILS - Production has just commenced from a number of wells in the Niobrara project, marking the company's first cash flow from gas sales. The number of producing wells should increase through May with consequent rise in gas sales. The NSAI report confirms 1P-3P numbers for only those parts of Irvine's acreage covered by 3D seismic (less than 2% in Kansas - ex Niobrara, and only 25% of acreage in Oklahoma). On the shale gas resources, NSAI have confirmed the company's resource estimated for the Caney Shale, and have given numbers for the Woodford Shale for the first time. Establishment of the commercial economics of the shales through drilling should see movement of these substantial resources to reserves.

VALUATION AND RECOMMENDATION - We assess the 3P reserve base NPV (10) valuation giving a modest core value of around 2p/share ($21m). Assuming a full drawing down of the $50m mezz finance facility (in negotiation), and risking the contingent resource at 25%, results in a core plus risked EMV of 8p/share (previously 7p/share). However, it should be stressed that the unrisked resource potential is over 40p/share, so the potential prize is large, and in our view easily achievable through drilling. In addition there is a large acreage base yet to be evaluated including the areas outside the existing 3D, the Chattanooga shale in Kansas, Coal Bed Methane in Oklahoma and deeper zones in the Niobrara project area. The reserves report, the start of production and the future exploration drilling programme are important steps in the development of Irvine. Confirmation of the mezz finance will allow the company to accelerate the exploration drilling and development programme, and we expect the "baseline" of reserves and resources established by the current report to rise substantially over the coming 12-18 months

Further good news today, and share price on the move north ........

Irvine Energy says drilling commences at Rock 3D acreage in Kansas

LONDON (Thomson Financial) - AIM-listed Irvine Energy Plc. said it has
spudded the Rock 1-5 well in Butler County, Kansas, targeting high-quality oil
from the Arbuckle formation at approximately 3,500 feet.
Drilling started on Tuesday and is expected to take about a fortnight, the
company said.
Irvine said this will be the first of four wells to be drilled on the Rock
3D acreage, with all four targeting oil from the Arbuckle and Mississippian
formations at a depth of 3,000-3,500 feet.
The company added it has also purchased an adjacent lease containing a salt
water disposal well that will be used to re-inject produced formation water, and
allow for maximum oil production from Rock 1-5 while minimizing operational
costs.
Managing director Aaron Close said, "Over the next 18 months the company
intends to drill a minimum of 12 wells as we look to ramp up production levels
through increasing the number of wells producing across our portfolio".

skyhigh
Can you put this in the header please cheers.

http://www.irvineenergy.com/index.htm

i'm in as of yesterday

I'm just waiting for it to get to 4.4p then I'm in profit from when I first got in (like a good few others) when IVE first came on the scene some two yrs.

Always thought this would come good... onwards and upwards !

lot of buyers around!!!

Plenty of volume here this should be at 4p

Motoring!!!!!!

the hard work is over - this will keep flying

hope so! once it gets past 4.4p I'm in profit....should have bought alot more at the lower levels!

good - roll on 4.4p then! shouldnt be too far away - it will be worth the wait esp. 4.4p +

if you havent already done so nighthawk is well worth investment - will continue to excel

HMB will do well too after today's news... 2bagger, poss 3bag from here! (imho)/

Is certainly going places now and the volume is already higher than the record one last Tuesday.

5 days chart

4p tomorrow.

Once the seller was gone later this morning the shares has been motoring to finished the best of the day and record volume 84M so far, delayed trades could still come