MPET

[malam69]

how about ASPN, CHAR? These two stocks are on a tear. Specially ASPN!! I am not sure how far will it go? Since I am not a TA expert, anybody care to comment??

[stocky]

Viking, must applaud(s) you for your call on WPCS and analysis of ABLE

Will be reading your posts with lot more interest in future

[VikingFan]

Thanks, Stocky -- My best call here by far so far though was on CAFEW when I first joined.  In at 1's, taking profit in 4's, rebuy at 2's, out at 10's before the halt, all posted real time in that thread.  Got lucky they didn't halt it while we rode that run.  Biggest winner for me in a while.  My warning on VEXP a couple weeks ago hopefully saved some people, too.

I have and will make mistakes, too (SHLD calls on breakout that failed, ORCT recently), but I try to keep those to a minimum.

Keep an eye on WPCS tomorrow and in the long term...

[wezard03]

Pending news was finally released after hour today.
Check the details at the following site.

http://biz.yahoo.com/prnews/050728/nyth187.html?.v=9

Magellan Petroleum Announces Forthcoming United Kingdom Drilling Activity Weald Basin, Onshore Southern England
Thursday July 28, 4:44 pm ET

HARTFORD, Conn., July 28 /PRNewswire-FirstCall/ -- Magellan Petroleum Corporation (Nasdaq: MPET - News) said that its 55-percent-held subsidiary, Magellan Petroleum Australia Limited, made the following release to the Australian Stock Exchange on Thursday, July 28, 2005:

                             Announcement to ASX

                 Forthcoming United Kingdom Drilling Activity
                    Weald Basin, Onshore Southern England

The British Drilling and Freezing Limited Rig (BDF) No. 28 is currently mobilizing to the Sandhills-2 drilling site and the well is expected to spud in the next few days.

The story continues.

EOM

[D8r8r]

VikingFan, did you buy back more after you sold it all @ $9?  I sold half for profit and I'm getting ready to buy dips on its way back up. 

[VikingFan]

As I posted in the "WPCS Input Needed" thread, I bought back a good chunk at 7.2 and 7.12 yesterday.  I didn't sell it all at 9, but I did sell a majority, and then bought back a good portion of that.  I plan to buy more on weakness, but am out of town and unavailable after this morning for over a week.  I'll be holding WPCS for the long term...

[wezard03]

UK By OGJ editors

http://ogj.pennnet.com/articles/article_display.cfm?Section=ONART&C=ExplD&ARTICLE_ID=233468&p=7

HOUSTON, July 29 -- A group led by Northern Petroleum PLC will shortly spud the Sandhills-2 well on PEDL 98 on the Isle of Wight in the Weald basin.

The exploratory well is projected to TD 1,270 m to test for oil in the Jurassic Great Oolite formation. British Gas PLC intersected but did not test hydrocarbon shows in the same formation 1 km north in Sandhills-1 in 1982 (OGJ Online, Mar. 2, 2004).

The group includes Northern Petroleum 57.5%, Magellan Petroleum (NT) Pty. Ltd. 22.5%, Oil Quest Resources PLC 7.5%, Black Rock Oil & Gas PLC and Montrose Industries Ltd. 5% each, and Oil & Gas Investments Ltd. 2.5%.


*****************************************************************
Magellan Petroleum Corporation (MPET) holds a 55 %  of Magellan Petroleum Australia Limited,  therefore I must say MPET has a 12.375% interest at the Sandhills-2 well-site on the Isle of Wight.

[wezard03]

Northern Petroleum (NOP.L) finished at 16.90 in UK market today.

NOP.L gained 3.57 point (26.78%) in a week after the news about the Isle of
Wight on Monday, July 25.

MPET has a 12.375% interest through its 55-percent-held subsidiary, Magellan Petroleum Australia Limited at the Sandhills-2 well-site on the Isle of Wight.

Sandhills-2 (PEDL 098) licencees are:
Northern Petroleum (GB) Ltd  57.5%
Magellan Petroleum (N.T) Pty Ltd 22.5%
Oil Quest Resources Plc7.5%
Black Rock Resources (UK) Ltd 5.0%
Monrtrose Industries 5.0%
Oil and Gas Investments Ltd 2.5%

MPET will be the next.

Price target is $4.16 year high from current level at $2.88.

[wezard03]

Northern Petroleum issued the press release today. Once MPET releases the same PR, stock price will be higher immediately.

http://www.londonstockexchange.com/LSECWS/IFSPages/MarketNewsPopup.aspx?id=1045687&source=RNS

Company   Northern Petroleum PLC
TIDM NOP
Headline Commencement of Drilling
Released    09:17 01-Aug-05
Number PRNUK-0108

Immediate Release: 1 August 2005

                            Northern Petroleum Plc                             

                                 ('Northern')                                 

                        Sandhills-2 commences drilling                         

Northern Petroleum Plc ('Northern') announces that drilling commenced at the
Sandhills-2 well on 1st August 2005. The well is located in PEDL 098 at
co-ordinates OS 446150 E, 089815 N and has a planned total measured depth of
4167 feet. The primary target is the Great Oolite and the reserve potential is
evaluated at being in the range of 10 to 50 million barrels recoverable.

Following the drilling of Sandhills-2 the rig will be moved to the Bouldnor
Copse-1 well site near Yarmouth on the Isle of Wight to drill both a structure
at the Great Oolite level and a deeper and potentially larger exploration
prospect in the Triassic Sherwood Sandstone on licence PEDL 089 with a reserve
potential of 90 to 140 million barrels recoverable.

PEDL 098 partners are
Northern Petroleum (GB) Limited 57.5%
Black Rock Resources (UK) Limited 5.0%
Magellan Petroleum (N.T) Pty Limited 22.5%
Oil Quest Resources Plc 7.5%
Oil and Gas Investments Limited 2.5%
Montrose Industries Limited 5.0%

PEDL 089(A) partners are
Northern Petroleum (GB) Limited 70%
Wessex Exploration Limited 20%
Oil Quest Resources Plc 10%

-Ends-

For further information contact:
Derek Musgrove
Northern Petroleum
Tel. 020 7743 6080

Chris Roberts
Hansard Communication
Tel. 020 7245 1100

END

[wezard03]

Oil stock was very hot and on fire today.

MPET up $0.23 (7.93%) to $3.13
MPET cleared 10day MA ($2.94) and 20day MA ($3.04) both.
I think this is beginning of short term rally.

EOM

[bula]

Adding MPET at 2.87 and bought GEOI at 14.66.  OSX.X is near all time highs and crude has retraced nicely.  Most of these babies have also fallen back to their 13 day EMA.  Several tropical storms are brewing in the atlantic after a brief hiatus which should stir things up in the coming days. 

The time is now.  My opinion is momo will build this week and next week will see another hurricane pop in crude on its way to $70 by Sept.

Happy trading everyone,
Bula

Loving it now.  GEOI $16.55 and MPET $3.4.  Both will continue the run.

$$$$,
Bula

[cumulina]

MPET looks like it's going to go places today.

It might be to late to get in from the morning, but should be fun to watch.

Good luck to you who allready have MPET! 

[fous]

bought yestderay before the close at 3.05. Hopefully we'll see it break its upper channel around 4$.

Good luck to all,

Fousc

[Melf Elf]

Loving it now.  GEOI $16.55 and MPET $3.4.  Both will continue the run.

$$$$,
Bula

Good job, Bula.  Applause.

[rickjust]

hi guys,
thanks for the great input.
i would llove some input on mpet. is this a similar triangle pattern as the last stock gtcb exept in reverse  or is this a penant. love to find out how you post a chart . it doesn't seem like you can copy and paste on here . could some one tell me how to do it.?
thanks.
max