Hi all,I held NGE last year at different times and loved the...

Hi all,

I held NGE last year at different times and loved the rollercoaster!! However I have been away from the market for quite some time due to other projects - but now I am back - and what a day to buy back in!! NGE certainly doesnt dissapoint! I am not an overly experienced trader but have seen these kinds of reactions to announcements over and over again (classic one was KAR a few years back, down 40% on hydrocarbon discovery then shot back up!)

The reason I bought back in today was that the announcement was good!! There was nothing negative in it and a drop of 30% is completely unwarranted! As far as I can see its a good buying opportunity. Last week no hydrocarbons 14c / today hydrocarbons 9.6c??? Gotta love a crazy market, but these are the opportunites that we look for!

good luck to all holders ( I have posted article below from Energy News Bulletin



Bonus sands for Siphon JV


Monday, 19 September 2011

TALISMAN Energy has encountered a previously unknown sand formation while drilling Siphon-1 at PPL 269 in Papua New Guinea, and said the sands could be hydrocarbon bearing.



The Parker Drilling Rig 226 at Siphon-1. Image courtesy of NGE.

The sand interval was found while drilling to the target Toro formation at 3831 metres, with a total depth of 3863m reached.

Logging while drilling found increased resistivity within the Toro formation, indicating the presence of hydrocarbons over a gross interval of about 11m.

Joint venture partner New Guinea Energy said the uncovering of the overlying Elevala sand was ?unexpected?, with logs showing a possible 12m gross hydrocarbon interval.

Detailed wireline logging including density-neutron logs, fluid sampling and pressure measurements will be acquired to interpret the significance of the hydrocarbon reads.

Talisman Energy, through subsidiary Talisman Niugini, holds a 50% operating stake in the well while New Guinea Energy holds the remaining 50% through its subsidiary Kirkland.