Volga Gas Share Discussion Threads

[matt123d] 23/11/2009 16:41

Closed at 250p, very nice.

[o1lman] 23/11/2009 15:01

plenty of shares on offer 250/251p 22k.

[o1lman] 23/11/2009 14:09

stobie, tks, I'll save u some grief most probably not oil but gas condensate, but I know what u mean.

VGAS talks about the Pre-Caspian depression and the Karachaganak field



where they carried out some fracturizing to enhance production.

[stobie1] 23/11/2009 14:01

O1lman - no meaningful comparable producing wells in the area. I believe that if you were to read CPR in VGAS admission document it should point to expected perm / porosity (can't remember if it was in main report or Ryder Scott report at the very back.
Am disappointed that market has not viewed this more positively. Oil shows is fabulous news and there is a lot more drilling to be done.

[coco] 23/11/2009 13:08

Well done chris a profit is a profit - What do you recon to TMAN. is this stating to look a bit Russian - I dont know.

[chris cat] 23/11/2009 12:59

Coco - Would you believe I got stopped out last week. Seen some paper profits disappear recently so kept moving my stop up to protect profits. GL all

[o1lman] 23/11/2009 12:59

Swiss,
This is what the Traders Bible says about intra day auctions.

SETS and SETSmm

Intra-day auctions that can be triggered if an attempt is made to match a trade on the order outside a certain price tolerance level for that stock.
Note the trade does not actually have to take place, just an order submitted that would result in it.

Intra-day auctions can occur during the trading day where an order is entered which would cause a stock to trade more than 5% away from the last trade on the order book( although some less liquid stocks it is 25%)
Very liquid stocks don't generally have intra-day auctions because, even if there is breaking news, the increments between trades are often below 5%.

Intra day auctions last for five minutes with a random 30-second end period.

Dated 2007 so percentages may have changed since then.

[o1lman] 23/11/2009 12:33

tks matt.

OREL out to 247.25p
CANA out to 251p

1500 on offer at 140p gone

WINS 245p
OREL 250
CANA 251

[matt123d] 23/11/2009 12:15

o1lman,

If 100 shares were bid at 235p instead of 237p the auction would have still been triggered as the 10% movement is based on the mid price of the share.

If 5000 shares were offered at 235p then the 100 shares being bid for could have been entered into the market at 300p and the fill would still have been at 235p so it really makes no difference, the auction still takes place either way.

[o1lman] 23/11/2009 12:04

tks, matt but there were 5000 shares on offer at 235p, so there was no need to put on the bid at 237p, they could have simply bought 100 of the 5,000 on offer which happened in the Uncrossing Trade, therefore not triggering the 10% rise and the auction.
So either fat finger for 100 shares, or u have too much faith in market makers.
Or maybe the first bid at 235p triggered the 10% and therefore was placed in the market at 237p, thus causing the auction, don't know really.
CANA only 2500 available at 237p, next offer 240p and OREL moved out to 243.5p,don't look as they want to get involved.

[matt123d] 23/11/2009 11:56

Market makers have nothing to do with when an auction takes place and for how long, it is automatic.

A 10% share price movement will cause an auction to start when the next market order is entered. In the case of VGAS 100 shares were placed on the bid at 237p which represented a 10% movement from the low of the day.

The auction lasts a period of 5 minutes.

[o1lman] 23/11/2009 11:53

No, I think this was three minutes,don't quote me, plus a little extra time, a bit like football, although I have seen that as soon as they come out of auction they are put straight back in.
Not a lot on offer 12,000 237 > 242.5

[swiss tony] 23/11/2009 11:44

Thanks. And I take it there is obviously no way of knowing how long this auction will last? MM's discretion I take it?

[o1lman] 23/11/2009 11:43

matt
The mechanism for the auction was that there was a bid price of 237p entered into the market which was higher than the offer price of 235p which put the market into auction.
The uncrossing trade was the 100 shares at 235p which was deducted from the 5,000 on offer which is now 4,900, was only explaining to swiss how auctions work, although I hadn't realised the share had reached a 10% breaker mark.

[matt123d] 23/11/2009 11:34

o1lman,

Electronically traded shares such as VGAS automatically go into auction when there has been a 10% movement in the share price.

[o1lman] 23/11/2009 11:27

swiss, the market makers normally put a share in auction because they need time to work out the direction of the share, demand swamping supply, either way up or down. Sometimes after a big move an auction can mark the high or low of the day.
Out of auction now CANA 217 > 237 so no change.

[matt123d] 23/11/2009 11:23

Chart looks very good now with that test of 200p, everything in place for a move up to a higher high of 300p.

[gizmohican] 23/11/2009 11:23

I agree coco the risk reward has changed! Andy I hope you are right believe me!

[swiss tony] 23/11/2009 11:22

I have never held a share which goes into auction (or not to my knowledge anyway).
What exactly does this mean please?

[o1lman] 23/11/2009 11:20

in auction, more like the response I was expecting, which way will it come out of the auction ?

[o1lman] 23/11/2009 11:00

coco
tks, if I can track down the info I will update.

[coco] 23/11/2009 10:54

Not to my knowledge, I really dont know.

[matt123d] 23/11/2009 10:53

Buyers back in now, looking good.

[o1lman] 23/11/2009 10:44

Coco, do u know if the previous wells drilled in this formation have had to be fracturized to get the gas/condensate to flow ?
Going by the spread CANA 212 > 232, they don't know what to make of the news either.

[coco] 23/11/2009 10:37

G1 in my view is neither positive or negative at the moment - Positive hydrocarbons in the mud - Negative if its commercial (up to 1 tcf) they would Know if they hit it - (pressure down hole).

The three other points in the update are very disapointing and I have reduced because the risk reward has changed.

I still live in hope that we hit the G spot.