Broughty Ferry from Stannergate, Dundee. The l...

Galaxy II CONFIRMED. Away she goes.

Yes I can now confirm that the Galaxy II is on her way and is being towed down river as we type. Three tugs are pulling her.

Spoke to the Harbour master who confirmed that she is well underway and near Broughty ferry where ever that is! Not sure of the spelling.

So at long last we have some movement.

Keep your eyes on here and expect an sp increase as news is confirmed.

Also expect an sp increase on spud and drilling updates.



You may also like...

No Responses

  1. 13thMonkey says:

    thanks dan

  2. Nice work Dan.

    Been quiet on that front for a while now.

    Been in these and Vog for a long time.

  3. Tony says:

    Hi, hope your not to busy to reply but do you have any idear of a buy price?



  4. Olivanders says:

    Chaps the tugs pulling the rig are called Olympic Poseidon, Dalmeny and Sea Lynx and can be tracked here – http://www.marinetraffic.com/ais/ – find Dundee on the map and they are close by. I plan to get into EO soon, but only after XEL flow tests are released and the resultant spike occurs. Cheers, Olivanders

  5. ChangFai says:

    As I work for Transocean, I could have given you this info. last night .

    Whats you email ?

  6. romski999 says:

    thanks dan, was waiting for this, just up’d my spread bet on them,
    Chang any chance you can sneak me onto your email list


  7. chilaxed says:

    Hi Dan

    Any news on XEL, conflicting opinions on the boards as to whether the flow test has started or not?


  8. Dust Ferret says:

    Its only moved to a holding position.
    Need to be more accurate, many are locked in a loss now.

  9. Alex says:

    Hi Dan,
    What do you believe the reasoning behind freezing the ASX trading on OEX could be?
    I have limited experience, and this is the 1st time I have come accross this decision before.
    Could it be a precursor to a buyout………fingers crossed.

    It seems it is in preparation for some big news, but OEX do not seem to be in a vunerable position yet, as they have large growth potential, with little risky work ongoing.
    So indicates it could be big positive news rather than negative.

    But this is an opinion with no fact at the moment.

    • Alex says:

      1. Share price on the ASX went from a price of 28.5 cents on 02-Dec up to a maximum (during the day) price of 38.5 cents on 08-Dec together with a large increase in the volume traded. As a result of this the ASX faxed a letter on 08-Dec to Oilex asking them if they knew of any reason for this and if, as result, they needed to make an immediate announcement of something that the markets should be aware of. Alternatively, if there was something that they should announce but could not do so immediately, then they needed to state when would they be able to make the announcement? Also if there was something, but they could not announce it immediately, they needed to consider requesting a Trading Halt. Finally, if there was not anything that they needed to announce, did they have any explanations for the rapid increases in price & volumes.
      2. Oilex initially responded by fax on 08-Dec, through their Finance Director [Ben Clube], that there was not anything that they required them to make an announcement. Oilex believed that the increases in price & volumes was due to a variety of previous items plus the recent roadshows in London.
      3. Then today (09-Dec) Ben Clube sent another fax requesting a Trading Halt (in line with the ASX regulations) due to a pending announcement on an “equity raising”. The halt will be until the earlier of the announcement or when Oilex requests the halt to be lifted (according to the regulations either the announcement or request for the lifting of the trading halt has got to be before the commencement of normal trading on the ASX on 13-Dec).

      So, it looks like they might have been trying to sort out some extra equity funding under the radar but that someone got hold of the info. & the ‘insider-trading’ leak helped to spike the price. And the trading halt is due to ASE rules.

      Still would like your thoughts though Dan.

    • Brokerman says:

      Oilex have had quite a few trading halts. The last one being Sept’ 6th 2010. If memory serves me right.
      I can’t see it being a takeover they’re stating “completion of equity financing.”
      Check thie link out.

      C;ick on the first two pdf doc’s for 9th and 8th of this month.

      Looks like some one or some institutions are buying in.