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)

HAWK/HMB will do well, maybe get into IVE tomorrow for a high risk punt

andysmith
Also have a good look at SER, new wells with flow rates and steaming news still to come . 20p+ over the next few months

4p onward and upwards.

yes, looking good! just need to get to 4.4p+ to get into profit.. it's been along wait but hopefully it'll be worth it soon!

OK, well I'm in after setting buy limit at 4p, its dropped!!

Don't blame yourself Andy, it was me wot bort at 4.05p, ive pi**ed on the parade again !

I'm ok, didn't have time to sit here all day trying to pick right price, too much work to do and I wont have time to watch next week either.
Spent a couple of hours researching the company last night and ok with my purchase and the risk/reward ratio favours the chance of a good profit.
I'm now a patient investor and didn't panic when the market wobbled as I believe I have sound investments in my portfolio and all have returned to previous levels and higher and now in profit on all of them, except my new IVE shares.
OK so I could have got more shares now for my dosh but hey, it shouldn't matter in the long-term. How many times do we get it exactly right?

good to sit tight on wobbles normally - ive i am sure will give a good return next few months particulary interesting

good to sit tight on wobbles normally - ive i am sure will give a good return next few months particulary interesting

If the market tumbles its just a case of assessing whether you think your investments are still sound "in that market", for example I off-loaded any companies with a debt position as the credit crunch started as in my opinion the investment market wouldn't like that, companies such as FAN/ATCG for example however both remain on my watchlist and can be purchased at lower prices now.

Happy to buy into oil/gas companies with production imminent and good potential.

Agreed

Bought some at the open,going up a little.

Hi skyhigh it should rise back up to 4p after tree shaking

so why have you been posting on this board since 2007. me thinks you are a chancer or ramper

chancer!...on the other hand, I always thought this would come good and still do?
is that a ramp?

in at 3.4p was a close thing between this or adding to my SER[small profit atm] .

hope I judged it right as the 'offer' SP kept on tumbling towards the end of the day and don't know if bottom has been reached. it should all turn out good in the long term

Alex

robert
Welcome aboard I'm in both always best to hedge your bets.

A good read



Irvine Energy Brings Its Second Project Onstream In The US As Key Financing Negotiations Continue
Investors in Irvine Energy got some welcome news last week when the AIM firms Niobrara oil and gas project in Kansas came onstream. Ten wells are now online and producing at or above expected rates and will be joined by another six by the end of this month.

There is more to come here: a further four wells are awaiting perforation and stimulation and once all these 20 wells are online and producing well, the company plans to sink a further 40 wells. These wells are very shallow (around 1,500 feet) and can be drilled in less than a week. The initial 20 wells are expected to produce some 500,000 cubic feet per day net to Irvine.

Irvine acquired a 50 per cent interest in the 4,490 acre project in northwest Kansas in September 2007. The following months saw a burst of intensive work to bring the Niabrara wells onstream. This included installing pumping units, gas gathering lines, a gas compressor and preparing a water disposal well.

The company now has two of its three projects producing and generating cashflow. The other producer is the Oklahoma Project, where Irvine has a 50 per cent working interest in 50,000 acres where production has been running at around 600,000 cf/d (300,000 cf/d net to Irvine) plus a dribble of oil production.

The growing production profile will be a relief for investors, who are no doubt aware that the company has, for some months now, been in negotiations for a mezzanine debt financing. Speaking at oilbarrel.coms February conference, MD Aaron Close said the financing, once complete, would give enough head room to see us through to three years, by which time we should be almost cash flow positive.

The additional production on the books and the recent independent reserves report, which showed 3P reserves of 10.25 billion cubic feet of gas equivalent and a contingent resource of 238 bcf, should help de-risk the company in the eyes of financiers. And, as Close pointed out last month, the reserves evaluation, undertaken by international petroleum consultants Netherland, Sewell & Associates, related only to a small portion of the companys total oil and gas acreage. In Kansas the audit only represents about 1.8 per cent of the total acreage, said Close. In Oklahoma the reserve estimates represent circa 25 per cent of our licences while the Niobrara property is fully valued.

Progress is being made on the financing front. Last month the company signed a letter of intent for a US$50 million mezzanine finance facility, which it hopes to have completed by June 2008. Because this financing has taken longer than expected to finalise, the company has had to extend the repayment date on US$4 million of loan notes issue to its US partner Metro Energy. The company has also raised 4 million through a placing of 203.2 million new shares priced at 2 pence per share (the shares were trading at 3.775 pence last week), representing 30.2 per cent of the companys enlarged issue share capital.

In the meantime, the company is making progress with its third project, the 112,000 acre Kansas Project. This is oil prone, which adds some nice diversity to the portfolio and provides exposure to booming oil prices. The company plans to drill a minimum of 12 wells over the next 18 months on lands it has covered with 3D seismic: an 8 square mile section in the Rock area and a 12 square mile section in the Ayres area.

The first well, Rock 1-5, spudded at the end of April. The well is targeting the Arbuckle formation at a depth of 3,500 feet and should take 10-14 days to complete. The company has bought an adjacent lease to the Rock 1-5 well, which is home to a salt water disposal well that will be used to re-inject produced formation water and enable maximum oil production from the well.

Rock 1-5 will be quickly followed by three more wells, all targeting the Arbuckle and Mississippian formations at a depth of 3,000-3,500 feet. This will be followed by drilling in the Ayres area, which will get underway following interpretation of a recent 3D seismic shoot.

In addition to this shallow, low risk drilling, Irvine also holds a number of big ticket exploration items in the shape of shale gas and CBM plays. The prolific Barnett shale gas play in Texas now produces some 1.5 billion cubic feet per day from 6,000 wells while an extension of it in Arkansas, where it is known as the Fayetteville, has gone from producing nothing in 2004 to 400 million cf/d today. It is thought this shale gas play extends into Oklahoma, where it is known as the Caney/Woodford gas shales. It is thought the gross gas-in-place number on the companys acreage is 11.2 tcf with a net recoverable resource of 159 bcf. There is also CBM potential in the Hartshorne coals, which have produced a quarter of a tcf of gas since 2000. For now, however, investors will be content seeing the three main projects develop and stabilize to put the company on a more sustainable financial footing going forward.

Driver,

Is the 203.2 mil new shares @2p already reflected in the SP or will it come into play in the near future. ie a small drop in the SP to reflect the dilution?
Alex

Already in me thinks.

Application will be made to the London Stock Exchange for the new
ordinary shares to be admitted to trading on AIM and it is expected that
admission will become effective and that trading in the new ordinary shares will
commence on 2 January 2008.

The total number of ordinary shares in issue following the placing will be
704,674,826.