3SOF

Broke out of an ascending triangle a couple days ago.   
Volume has been very impressive the past week.
Not a huge chart history, but one to watch.

Im liking TNEN a lot KS

HOUSTON, TEXAS, Aug 10 (MARKET WIRE) --

True North Energy Corporation (OTCBB: TNEN), an independent oil and gas exploration company, is pleased to announce that effective July 28, 2006 the company has entered into a one well participation agreement with Whitmar Exploration Company ("Whitmar"). Whitmar is acting as the operator on the well.

The program consists of drilling one 13,000 foot well to test the Yegua Sands on the Deweyville Prospect located in Newton County, Texas

The Yegua trend sands in the area have documented productive wells dating back to 1935. The play has been recently rejuvenated by significant field discoveries along the trend. An adjacent field to Deweyville Prospect, West Starks Field, produced in excess of 40 billion cubic feet of gas and over 6 million barrels of oil since its discovery in October of 1988.

The drilling operation on the Deweyville prospect started on August 5, 2006. The well is currently drilling at 5,400 feet.

By participating in the drilling program, True North will earn a 10% working interest on a 72% net revenue interest in the Prospect. True North Energy will pay 12.5% of well drilling costs before casing point and 10% of all costs after the casing point. The company will also pay its proportionate share of prospect costs including geological and geophysical costs, third party prospect fees, land brokerage costs, lease bonus and all other costs associated with the Prospect.

Under the agreement, True North Energy has an option, but not the obligation, to participate in additional well on the prospect by paying its proportionate share of the costs.

John Folnovic, True North Energy Corporation President and CEO, said: "The Deweyville Prospect is consistent with our strategy to increase geographic, play type and risk diversification of our North American portfolio."

Looks good to me too!

In at 2.47

Quote from: boatguy on August 10, 2006, 03:25:44 PM
Looks good to me too!

In at 2.47

filled a 1/2 at 2.44.

lets make that paper boat

In @ $2.22 (Monday). Target $4.44. Good luck to us!

Its showing  up in my filter everyday too
Look like ready to break the moving average resistance above (200sma & 200ema)

I guess we all agree then

Now it just needs to go UP!

Website

http://www.tnecorp.com/

From the site:

VALUE

"I would next like to discuss the tremendous
value that we believe is embedded in True North
Energy's stock. Using year-end 2005 NYMEX
price of $61.11 per bbl of oil, True North Energy's
largest prospect, Harriet Point in the Cook Inlet of
Alaska, based on the preliminary technical evaluations
conducted recently, has a potential recoverable
oil resource between 170 million barrels and
700 million barrels. That would translates to an
enterprise value of between $5 and $20 billion. In
addition, we have additional 10,000 net acres of
leasehold in North Slope of Alaska which has not
been evaluated to date."

More chart

Up over 15%

We might clear 3$

Quote from: Terliso on August 10, 2006, 04:11:30 PM
Its showing  up in my filter everyday too
Look like ready to break the moving average resistance above (200sma & 200ema)

Intraday -- crossed the moving averages

Quote from: boatguy on August 11, 2006, 03:00:18 PM
We might clear 3$

I believe that the party is just started...

TNEN is rockin'

Up 28%

TNEN is going Parabolic, what would you look for as an entry now?  ( i had a limit order in at 2.45 to buy if the Open Gap got filled... it never did 2.46 was the low and up she went!!)  I foresee a open gap up on Monday...  thoughts on buying into this gap in the 3.20 range or hope to see it fill?

On the daily chart did you see the spike to 3.23 towards the end of the day on large volume...  Some larger player wanted in with out taking the time to accumulate gradually like has been happening all week... does this point to a peak to you or increased buying pressure.

I am doing more research and will post more if i find sig.    I live in Alaska and there is a lot of Buz about Prudhoe partially or completely shutting down.  TNEN has oil leases in Cook inlet which could provide the local Alaska refineries but so far i can not see that TNEN even produces anything yet.  Perhaps this is the speculation that is driving the buying this week?  Does anyone know if other small oil producers off of the major pipeline route are experiences similar rises?

Trying to figure a risk/reward on this play, at 2.45 Fous thought it may be a late entry, technically at 2.45... so where does that put us now
Seems like it was a new IPO late last year and the $4-7 range has been paid for it...

Just saw a full page add for TNEN.ob in the July issues of "Money" magazine.  I do not read this rag often but do not remember seeing such glossy coverage for OTC stocks very often, definitely pumping going on.
Cheers Joe

Check this out-

http://www.investorabcs.com/esma/TNEN/2006_08_02.html

Looks like we got in before the pump

TNEN 8k-

http://biz.yahoo.com/e/060810/tnen.ob8-k.html

Pump or not pump all technicals are in good mode... as everybody says "when the chart is talkin' it pays to listen" 

Good luck to us!!