Boom Crash Smash Bang Mungy Thats One hell of a report. .27cent its on BIGTIME.
Come ON you lot what has old pumper been saying, ranting and raving like a lunatic and even offered to go next door and roll around in the fresh poo for you when i didn't need to cause Big Al the sheep farmer who is dead set copy of Danny Devito (Looks and sounds exactly like him) and smells like no tomorrow cause he's always crutchin or dipin or playing with his sheep as those blokes do all day. Smell, you hit the pub and you can smell him from a mile away. Hard to get a bloody beer out of as well. .15 to .20 .15 to .20 .15 to .20 Excellant write up by Peter Strachan from Stock Analysis. Well now Strachany has beat this well and trully and says this thing is worth at least .20 to .27 every day of the week. AND AND when we have finished pumping the OIl out of the CH we should turn around and start selling electric power from the Mungrel. What About that one!!!! Hey bet you never thought about that??? SUPA BIG DISCOUNT to current valuation, so old Pumper not such an idiot after all hey? "Generating Income for Years to Come". Holly Toledo. Free Foot massages for all SH down the track- Maybe? Please have a good read of this- Check out the Whole article for some extra graphs. I am even going to get BIg Al to sell some sheep and BUY some TEG. Stinky fella,
Triangle makes the right move : StockAnalysis believesthat Triangle Energy is likely to sell itsinterests outside of the Perth Basin,giving it the firepower to take acommanding position in appraisaland development of the 45% heldXanadu oil discovery, which could beup to 20 mmbbls oil. The stock is a speculative buy ahead of corporate and exploration updates, allsupported by operating cash flow of about $2 million per quarter.Perth Basin oil and gas producer and explorer Triangle Energy (TEG), currently trades ata deep discount to the valuation that StockAnalysis ascribes to the company. Triangle owns 78.75% of the Cliff Head oilfield. StockAnalysis estimates that Cliff Head ispresently delivering about $950,000 per month of net operating cash flow to the companyfrom gross, project oil production rate of just less than 900 BOPD. The field has just over1.7 mmbbls of net oil Reserves to Triangle.The company-owned Arrowsmith oilprocessing facility and transport hub in thebasin has capacity to handle a throughputof up to 15,000 BOPD, so any additionalfields that are discovered can readily behandled at the plant. Triangle is also a 45% partner in TP-15,which contains the Xanadu oilfield. Trianglerecently purchased an additional 15% stakein the project for up to $5 million, andStockAnalysis values the company’s holdingand other exploration interests at aconservative $20 million. A programme toacquire 42 km2 of 3D seismic over TP-15 isIndices and PricesAll Ordinaries 6,184Energy Index 11,570Brent AU$/bbl $ 92AUS$/US$ $ 0.716Live Gold/AU$ $ 1,869As at close 19 February 2019Capital Structure - TEGShares 306.8 m.Options 17.2 m. @ 11.9 ctsPerfs 0.40 m.Price $ 0.120 per shareMarket Cap $ 37 m.Net Cash (est Mar ‘19) $ 4 m.5,500 planned for H1 ’19. This work will be used to design either a side track of the Xanadu discovery well or a new well location to appraise the field.Triangle has also farmed in to earn a 50% interest in L-7, containing the shut-in Mt Horner oilfield. The company plans a simple work over programme at the Mt Horner field, where additional barrels of oil can be produced through its processing plant at marginal costs. TEG can recoup costs from this activity, which would appear to have limited downside for Triangle.
The company retains 47 million shares, representing a 35.47% interest in State Gas (GAS) which holds an 80% interest in the Reids Dome gas project in PL-231. Recent drilling on the prospect found multiple, gas charged coal seams at depth to 1,200 metres, along with gas charged shale formations.GAS believes that it now has rights to 100% of PL-231 as its partner has fallen below a minimum 30% holding which according to the JV agreement, automatically triggers default.Recent interest in stocks with possible access to natural gas on Australia’s east coast has pushed GAS from 15 cents to over $1 per share, lifting TEG’s stake to $48 million or ~15.6 cps based on the number of TEG’s existing shares on issue. Assuming that TEG issues a further $10 million of new equity in the next year, while all 17.2 million options are exercised before January 2020 to raise $2.03 million, TEG would nominally have access to $16 million of cash. GAS shares add $48 million lifting the total diluted value to 15.6 cps, which is above the company’s current market price of 12 cps. Cliff Head is valued at $33 million including abandonment costs, but the project has additional nearby prospects such as Mentelle and plans to drain Prospective Resources of up to 10 mmbbls of additional oil, which could extend operations out into the 2030’s if successful.In any event, the Cliff Head platform, which has power connection from the coast, could also be converted into an offshore wind turbine facility, generating revenue for decades to come. Exploration, including the company’s 45% interest in the Xanadu oilfield, is modestly valued at $20 million or 4.9 cps to lift total diluted valuation to $108 million, which compares favourably with the company’s current market capitalisation of $37 million.Page 2Monetizing its GAS holding would avoid further share dilution. Net cash40.009New equity100.025Options20.005GAS shares480.118C/Head330.080Exp’n200.049Corporate-8-0.020$ 108$ 0.27 Pumper All the above is IMHO and as always DYOR. 2019 the year of the TEG.
TEG Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
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