Vic Wasteland Thread - 15.0

[krzysiu]

What's going on f**kers? Long time no post

[Birds]

Smashing it. But will you hold or sell

HOLD! It's a spec stock and they've possibly stumbled onto the largest unconventional oil reserve in America - think larger than eagle ford. And this is in spite of the price of oil sucking a dick right now. Potential for a 10x here, so...call it greedy...but...I'd rather lose it all than miss out on the big time

Not too late to get on it, it's undervalued even with the massive gains recently

[UNR33L]

is this right? lol

[Leroy Peterson]

lol

Speaking of lulz, SAU's premier 34GTR thread has turned into GTR's 4 dummies after 26 pages.

We've just learnt that sump off is an engine-out job for RB26

[Birds]

Yep...it used to be called Tangiers Petroleum...traded at $1 plus...they drilled an offshore (iirc) well in Monaco that turned out to be a duster. Share price tumbled baaaad, welcome to penny stock. Company changed name, new CEO, recruited an expert on oil - dude who effectively discovered eagle ford shale sweet spot. Planned an exploratory drill on a slope in Alaska where most companies had avoided but there were known shale deposits. 85% gov rebate on drilling in Alaska, so a 50 mil operation costs you 7 mil. This well...ain't a duster (so far). Metric shit ton of oil - just a question of how useful/viable it is. There is a very slim chance that the share price could return to $1 long term, if a joint venture is created or if one of the big boys buys out the company. The goal is to prove up the acreage they own and wait for oil price to return to make a shale drill profitable (I think it needs ~$50 a barrel). 88E own 200,000 acres of land worth $30 an acre at the moment...once oil is proved up, could be worth $3000 an acre. Roughly translate the share price in the same way and you'll get why I am not selling yet.

That's the long and short of it!

Disclaimer: spec stocks are risky, do your own research blah blah blah

[L33SH]

Dollar dollar bill ya'll

[Rekin]

Yep...it used to be called Tangiers Petroleum...traded at $1 plus...they drilled an offshore (iirc) well in Monaco that turned out to be a duster. Share price tumbled baaaad, welcome to penny stock. Company changed name, new CEO, recruited an expert on oil - dude who effectively discovered eagle ford shale sweet spot. Planned an exploratory drill on a slope in Alaska where most companies had avoided but there were known shale deposits. 85% gov rebate on drilling in Alaska, so a 50 mil operation costs you 7 mil. This well...ain't a duster (so far). Metric shit ton of oil - just a question of how useful/viable it is. There is a very slim chance that the share price could return to $1 long term, if a joint venture is created or if one of the big boys buys out the company. The goal is to prove up the acreage they own and wait for oil price to return to make a shale drill profitable (I think it needs ~$50 a barrel). 88E own 200,000 acres of land worth $30 an acre at the moment...once oil is proved up, could be worth $3000 an acre. Roughly translate the share price in the same way and you'll get why I am not selling yet.

That's the long and short of it!

Disclaimer: spec stocks are risky, do your own research blah blah blah

Investline Australia

Betting on commodities to increase will be a long journey. There is more supply than demand.

They saying iron ore won't grow until 2020. I think they saying oil still has room to drop.

[Mohsen]

lol

Speaking of lulz, SAU's premier 34GTR thread has turned into GTR's 4 dummies after 26 pages.

We've just learnt that sump off is an engine-out job for RB26

Lol wot link?

[Leroy Peterson]

Action Dan's thread

[Mohsen]

Ohhhhh.

[joeyjoejoejuniorshabadoo]

Sump off isn't an engine out job in a 26... It's just easier to wait till it's out anyway

[Leroy Peterson]

RacePace should start a mobile mechanics service

All you'd need is a tow truck

[Birds]

Investline Australia

Betting on commodities to increase will be a long journey. There is more supply than demand.

They saying iron ore won't grow until 2020. I think they saying oil still has room to drop.

I'm not really betting on it to increase, even though an increase in oil price would be a great factor - I'm betting on this company to prove up the value of the acreage they own so that another company can bet on an increase in oil price. Therefore I don't really have to wait for oil to come back, only for a company to know that the finite resource will one day again be worth more than ever and that it would be stupid not to purchase the land from the explorer even in current climates (low price of oil). They are already in talks with potential joint venture partners so that could be a reality soon, but yeah it's tough to know when to get off the ride...risk vs return I guess.

[Birds]

Other news, gtst is back and feeling great. Aluminum radiator in there for cooling goodness. Fingers crossed the bottom end doesn't go on me now

[Mohsen]

You'll be right, it's an rb25

[Birds]

This is true.

Being at Barry's is f**king funny. If you didn't know anyone it looks like the most unfriendly place with the bulky westside regulars hanging around and his own dodgy demeanor. It's farkin family though, feels like home on a Saturday arvo.

Might organise some dyno time with RP to tidy up the E85 tune. New head gasket has raised compression marginally and the tune is 3-4 years old anyway.

[HEKT1K]

It's farkin family though, feels like home on a Saturday arvo.

[HEKT1K]

Birds - my series 2 seats are still taking up room at my old place. Yours for free if you want them

[Birds]

Birds - my series 2 seats are still taking up room at my old place. Yours for free if you want them

I feel stupid not taking them, tried to convince Leesh to replace her back breaking replica, but no dice. You tried ebay?

[HEKT1K]

I haven't, but I assume that if I can't give them away then I can't sell them lol

Turfed my old wing last week, painful