And this one... nothing major but worth a...

And this one... nothing major but worth a read.

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Bow Energy climbs 5.7% on robust volume, in significant uptrend March 12, 2009 16:00:00 AEST
1807 words
12 March 2009
Australian Company News Bites - Stock Report
English
Copyright 2009 News Bites Pty Ltd. All Rights Reserved.

AUSTRALIAN COMPANY NEWS BITES

STOCK REPORT

Bow Energy (BOW.AU) climbed 4.0c (or 5.7%) to 74.0c. Compared with the All Ordinaries index which fell 8.7 points (or 0.3%) on the day, this represented a relative price change of 6.0%.

TECHNICAL ANALYSIS

Significant Uptrend

Price Volume Trend: The price surged 9.3% in the last week and soared 123.0% in the last month. This has been propped up by high volume of 4.6 times average for the week and 4.4 times average for the month. In the last three months the number of rises outnumbered falls 30:18 or 1.7:1.

Relativities: Compared with the All Ordinaries index which rose 1.3% for the week, this represented a relative price increase of 8.0% for the week. Today its percentile rank in the Australian market was 84. In the Australian market of 1,759 stocks, the stock has a 6-month relative strength of 100 which means it is beating 100% of the market. A price rise combined with a high relative strength is a bullish signal.

Moving Average Price (MAP): The price to 200-day MAP ratio is 2.55, a bullish indicator. The stock is trading above both its MAPs and the 50-day MAP of 38.20c is higher than the 200-day MAP of 29.0c, a bullish indicator. The 200-day MAP has increased to 29.0c. An increase is another bullish indicator.

Breakout: In the last three months the stock has hit a new 52-week high four times, pointing to an uptrend. The bulls are maintaining control with price open, high, low and close exceeding yesterday's levels.

Support: The support price is hovering at the 35.0c level. Volume traded at the support price zone was 6.9 time average during the single occasion when the support price was breached. In the last one month the first low was at 35.0c on Feb 24.

Resistance: Resistance is apparent at 84.0c. Volume was 5.5 times average during the single occasion when the resistance price was breached in the last one month. In the last one month the high was at 84.0c on Mar 09.

PRICE VOLUME DYNAMICS

Volatility: The stock traded between an intraday low of 67.0c and three-day high of 78.0c. This suggests a trading opportunity between peaks and troughs.

Volume: There were 1,893,513 shares worth $1 million traded. The volume was 2.9 times average trading of 654,353 shares.

% Discount to High: The last price is at a discount of 11.9% to the 12-month high of 84.0c three-days ago on 09 Mar, 2009.

Volume Weighted Price (VWP): The price is at a premium of 46.9% to the 1-month volume weighted average price of 50.39c. In the past year the premium has been greater than 46.9% just twice, suggesting a topish level and cautious buying at the current price.

ing a topish level and cautious buying at the current price.

Access current Stock Research on (http://www.buysellsignals.com/BuySellSignals/com/bst/mkt/stockResearch/stockResearch.do?market=Australia&companyid=376&dt=2009-03-12&headline=BOW [http://www.buysellsignals.com/BuySellSignals/com/bst/mkt/stockResearch/stockResearch.do?market=Australia&companyid=376&dt=2009-03-12&headline=BOW] ENERGY CLIMBS 5.7_ ON ROBUST VOLUME, IN SIGNIFICANT UPTREND) BOW# BOW for: charts and tables, Daily Stock PDF, Weekly Stock Report, Internet Tracker (including Reported Buying & Selling, Company website, Announcements etc) and Results

NATURAL GAS, OIL AND PRICE PERFORMANCE RANK IN INDEX AND SECTORS

The stock is in 1 index, 4 sectors and 2 commodities.

The natural gas price in US$ per mmbtu was 3.8 [AUD 5.9]. It plunged $US0.07 or 1.9% on the day. Trailing one week, it crashed $US0.53 or 12.3%. Trailing one month, it crashed $US0.78 or 17.0%. In the Australian market of 1759 stocks, 53 sectors, 20 indices and 14 commodities, the natural gas price in AUD has a 6-month relative strength of 57 and a 1-day relative strength of 24. This indicates it has outperformed 57% of the market (rank 506 out of 1174) in the last 6 months and is trailing 76% of the market (rank 891 out of 1176) in the last 24 hours.

The oil price in US$ per barrel was 43.0 [AUD 66.4]. It crashed $US2.64 or 5.8% on the day. Trailing one week, it plummeted $US1.93 or 4.3%. Trailing one month, it soared $US6.99 or 19.4%. Trailing one year, it crashed $US66.91 or 60.9%. In the Australian market of 1759 stocks, 53 sectors, 20 indices and 14 commodities, the oil price in AUD has a 6-month relative strength of 47 and a 1-day relative strength of 13. This indicates it has underperformed 53% of the market (rank 626 out of 1174) in the last 6 months and is trailing 87% of the market (rank 1018 out of 1176) in the last 24 hours.

The stock went against the trend set by the following index and sectors (rank by percentage price change of stock for 1 day;6 months in sector/index in brackets):

Oil & Gas sector (rank 13;2 out of 123) which was down 88.2 points or 1.3% to 6,583.8,

Total Australian Market (rank 150;5 out of 1759) which was down 10.5 points or 0.3% to 3,823.8,

All Ordinaries index which was down 8.7 points or 0.3% to 3,190.4

SHAREHOLDER RETURNS

Trailing One Week: The stock rose three times (60% of the time), was unchanged once (20% of the time) and fell once (20% of the time). The volume was 4.6 times average trading of 3,271,765 shares. The value of $1,000 invested a week ago is $1,292 [vs $1,016 for the All Ordinaries index], for a capital gain of $292.

Trailing One Month: The stock rose ten times (50% of the time), fell five times (25% of the time), was unchanged three times (15% of the time) and was untraded twice (10% of the time). The volume was 4.4 times average trading of 14,395,766 shares. The value of $1,000 invested a month ago is $2,230 [vs $934 for the All Ordinaries index], for a capital gain of $1,230.

Trailing One Year: The value of $1,000 invested one year ago is $3,876 [vs $627 for the All Ordinaries index], for a capital gain of $2,876. The total return to shareholders for 1 year is 287.6%.

FUNDAMENTALS

P/S: The price/sales ratio is 120.0.

Price to Cash: The price to cash backing per share is 3.8.

ISSUED CAPITAL

Based on 203,953,822 issued shares the market capitalisation is $151 million.

ACTIVITIES

Bow Energy is an exploration company focussed on the discovery of commercial oil and gas fields with projects in several of Australia's producing Basins. Bow has interests in a number of oil fields and numerous oil exploration tenements within oil and gas basins in Australia, in the vicinity of commercial oil and gas fields. The Company has operations in Cooper-Eromanga Basin, Central Eromanga, Western Surat-Bowen, Eastern Surat-Bowen, Eastern Surat-Bowen, Clarence Moreton, Clarence-Moreton and Offshore Carnarvon.

BUSINESS NEWS ROUND UP

The last 5 snippets from News Bites were:

March 05: Bow Energy seeks $7.8m in rights issue

Bow Energy Ltd is seeking $7.8 million in a non-renounceable rights issue on a 1-for-6 basis at 27c each. The rights issue is fully underwritten by Samuel Capital Pty Ltd, Bizzell Capital Partners Pty Ltd, Wilson HTM Corporate Finance Ltd and ABN AMRO Morgans Corporate Ltd.Bizzell and Samuel are entities associated with Bow Directors Stephen Bizzell and Nicholas Mather respectively.The company recently completed a placement of ordinary shares at 27c per share to institutional and sophisticated investors to raise $6 million.The proceeds of the placement and rights issue will be used for ongoing exploration, appraisal and pilot production programs aimed at certifying gas reserves in Bow's CSG portfolio in the Bowen, Surat and Eromanga Basins in Queensland; commitments to joint venture oil project exploration and development expenditures including Cuisinier oil project development; and other corporate and offer costs as well as working capital requirements.

March 02: Bow Energy has $277.1k loss

Bow Energy Ltd increased its loss to $277,107 in the half-year to December 31, 2008 from a previous $236,542 loss, on revenue up from $112,422 to $592,454. Cash was down 2.9% to $6.8 million.Bow Energy is engaged in the exploration, appraisal and development of coal seam gas in Queensland's Bowen, Surat and Eromanga basins.

February 26: Bow Energy granted new permits

Bow Energy Ltd plans to accelerate its Queensland exploration and appraisal programs after it was granted two high potential permits, Comet block, ATP 1025P, and Norwich Park block, ATP 1031P.A third block, Gunyah, ATP 1053P, is expected to be granted in due course following completion of native title negotiations.Bow owns 100% of all three tenements.CEO - commercial John De Stefani said "We are pleased to now officially hold these two high potential CSG permits located in the heart of the Bowen Basin's main CSG fairway.

February 18: Bow Energy directors receive options

Bow Energy Ltd director Ron Prefontaine received 169,456 unquoted options off-market on February 18.He holds 9,006,609 shares and 1,669,456 unquoted options.Director Stephen Bizzell received 112,970 unquoted options.He holds 2,795,168 shares and 1,112,970 unquoted options.

February 17: Bow Energy observes 22.3m net coal at Hobson 1

Bow Energy Ltd has observed 22.3m of net coal at the Hobson 1 coal seam gas well at the Canaway Ridge project in Queensland's Cooper-Eromanga Basin, which has reached total depth of 432m.Several of the individual coal seams are over 2m thick. The majority were below 300m depth, with all of the sampled coals below this depth desorbing gas when brought to surface.Bow CEO - Petroleum Paul Lipski said "This really is an encouraging result for the second CSG core well in a new potential coal seam gas province.

Currency Conversion: Australian Dollar AUD 1 = US$ 0.648 [or US$1=AUD 1.54]; Against the US$ the AUD climbed 91.89 basis points (or 0.9%) for the day; added 1.5% for the week; dipped 0.1% for the month; crashed 26.3% in the past year. $ 1 = 100c.

Source: www.BuySellSignals.com [http://www.BuySellSignals.com]

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